v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities    
Net loss $ (36,402,311) $ (14,941,099)
Net loss from discontinued operations (1,373,457)
Net loss from continuing operations (36,402,311) (13,567,642)
Adjustments to reconcile net loss to net cash used in operations:    
Stock based compensation - options 1,958,711 1,561,978
Stock based compensation - restricted stock units 1,675,322 202,062
Amortization of intangible assets 781,977 393,771
Depreciation 329,414 466,720
Payments of taxes related to equity transactions (173,130)
Gain on divestiture of consumer segment (9,642,428)
Impairment on equity method investment 11,353,875
Equity method loss 1,237,768
Impairment on goodwill and intangible assets 412,999
Convertible notes payable fair value adjustment 6,864,056
Loss on extinguishment of convertible notes payable 4,623,335
Changes in operating assets and liabilities    
Accounts receivable (523,159) (916,864)
Inventory (3,218,772) 2,104,581
Prepaid inventory (4,185,264) 928,874
Prepaid expenses and other (1,125,234) (868,119)
Operating lease right-of-use assets and liabilities 48,014 9,083
Contract liabilities and deposits 338,053 5,389
Accounts payable (568,353) (324,405)
Accrued expenses 599,555 245,978
Net cash used in operating activities of continuing operations (28,804,656) (6,569,510)
Cash Flows from Investing Activities    
Proceeds from divestiture of consumer segment 1,000,000
Purchases of property and equipment (579,626) (87,063)
Net cash (used in) provided by investing activities of continuing operations (579,626) 912,937
Cash Flows from Financing Activities    
Proceeds from issuance of common stock through public offerings, net 71,768,044
Proceeds from issuance of convertible notes payable, net of issuance costs 14,432,879
Payments of convertible notes payable (1,650,000)
Proceeds from exercise of stock options 1,309,537
Proceeds from exercise of warrants 300,000
Payments under debt obligations (297,819)
Net cash provided by (used in) financing activities of continuing operations 86,160,460 (297,819)
Discontinued operations    
Operating activities (74,556)
Investing activities
Financing activities (120,413)
Net cash used in discontinued operations (194,969)
Net increase (decrease) in Cash 56,776,178 (6,149,361)
Cash, beginning of period 9,154,297 10,245,064
Cash, end of period 65,930,475 4,095,703
Cash paid for interest 23,339
Cash paid for income taxes
Non-cash transactions    
Conversion of convertible notes into common stock 3,300,000
Equity method investment from divestiture of consumer segment 17,000,000
Note receivable from divestiture of consumer segment $ 4,000,000

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