Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (3,630,610) $ (2,660,417)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 114,518 154,588
Stock-based compensation expense 14,340 326,616
Changes in operating assets and liabilities:    
Accounts and other receivables (143,274) 175,460
Inventory (24,339) (11,174)
Prepaid expenses and other assets 40,002 6,446
Accounts payable 74,310 394,267
Accrued expenses 310,857 (27,987)
Unearned revenue (11,265)
Operating lease right-of-use asset 28,221 426
Net cash used in operating activities (3,227,240) (1,641,775)
Cash flows from investing activities    
Purchase of property and equipment (5,663) (50,786)
Net cash used in investing activities (5,663) (50,786)
Cash flows from financing activities    
Proceeds from exercise of warrants, net of underwriting discounts, commissions, and offering expenses of $347,298 in 2025 1,171,169
Payment on loans payable (41,339) (38,927)
Principal repayments on finance leases (77,174) (100,266)
Net cash (used) provided by financing activities (118,513) 1,031,976
Net decrease in cash and cash equivalents (3,351,416) (660,585)
Cash and cash equivalents at beginning of period 6,449,782 1,105,291
Cash and cash equivalents at end of period 3,098,366 444,706
Supplemental disclosures of cash flow information:    
Interest expense paid in cash 10,026 542
Income taxes paid in cash 8,695
Supplemental disclosures of non-cash activities:    
Recognition of operating lease right-of-use assets 335,827
Recognition of operation lease liabilities $ 335,827