Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash from operating activities:    
Net loss $ (5,133,083) $ (3,987,288)
Depreciation and amortization 230,592 145,627
Stock based compensation 302,743 438,809
Stock issued for services 65,000 80,000
Amortization of operating lease right of use asset 155,338 158,547
Changes in assets and liabilities:    
   Accounts receivable 3,131,392 1,458,592
   Note receivable (150,625)
   Contract assets (581,069) (698,923)
   Inventory (116,393) (481,880)
   Security deposit 50,000
   Prepaid expenses and other current assets 403,225 (218,198)
   Accounts payable (1,530,361) 268,425
   Accrued expenses (150,914) (108,550)
   Operating lease obligation (80,559) 46,485
   Contract liabilities 1,481,643 3,186,138
Net cash (used in) provided by operating activities (1,923,071) 287,784
Cash flows from investing activities:    
    Purchase of patents/trademarks (28,720) (13,660)
    Purchase of software development (360,437) (15,000)
    Purchase of fixed assets (159,203) (140,549)
Net cash used in investing activities (548,360) (169,209)
Cash flows from financing activities:    
   Repayments of insurance and equipment financing (273,965) (213,404)
   Repayment of finance lease (22,851) (48,812)
   Proceeds from common stock issued 6,095,000
   Issuance cost (17,645) (576,650)
   Proceeds from shares issued under Employee Stock Purchase Plan 117,048
   Proceeds from preferred stock issued 4,000,000
Net cash provided by financing activities 3,802,587 5,256,134
Net increase in cash 1,331,156 5,374,709
Cash, beginning of period 1,121,092 893,720
Cash, end of period 2,452,248 6,268,429
Supplemental Disclosure of Cash Flow Information:    
Interest paid 4,410 5,984
Taxes paid 1,264
Supplemental Non-Cash Investing and Financing Activities:    
Notes issued for financing of insurance premiums $ 458,452 $ 327,586