v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities    
Net loss $ (23,123,351) $ (6,781,080)
Net loss from discontinued operations (1,373,457)
Net loss from continuing operations (23,123,351) (5,407,623)
Adjustments to reconcile net loss to net cash used in operations:    
Stock based compensation - options 804,855 708,726
Stock based compensation - restricted stock units 794,117 96,908
Amortization of intangible assets 405,683 208,539
Depreciation 181,872 205,085
Payments of taxes related to equity transactions (9,651)
Gain on divestiture of consumer segment (9,642,428)
Impairment on equity method investment 9,058,875
Equity method loss 503,625
Convertible note payable fair value adjustment 10,699,677
Changes in operating assets and liabilities    
Accounts receivable (1,064,979) (1,127,353)
Inventory (903,607) 2,824,184
Prepaid inventory (2,611,353) 704,218
Prepaid expenses and other (519,410) (1,828,179)
Operating lease right-of-use assets and liabilities 13,027 4,551
Customer deposits (6,967) 3,746
Accounts payable (530,539) (700,235)
Accrued expenses (46,762) 21,752
Net cash used in operating activities of continuing operations (15,907,737) (4,375,260)
Cash Flows from Investing Activities    
Proceeds from divestiture of consumer segment 1,000,000
Purchases of property and equipment (273,103) (75,991)
Net cash (used in) provided by investing activities of continuing operations (273,103) 924,009
Cash Flows from Financing Activities    
Proceeds from issuance of convertible notes payable, net of issuance costs 14,432,879
Payments under debt obligations (147,147)
Proceeds from exercise of stock options 316,074
Net cash provided by (used in) financing activities of continuing operations 14,748,953 (147,147)
Discontinued operations    
Operating activities 0 (74,556)
Investing activities 0 0
Financing activities 0 (120,413)
Net cash used in discontinued operations 0 (194,969)
Net decrease in Cash (1,431,887) (3,793,367)
Cash, beginning of period 9,154,297 10,245,064
Cash, end of period 7,722,410 6,451,697
Cash paid for interest 13,432
Cash paid for income taxes
Non-cash transactions    
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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