Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.22.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net Loss $ (4,454,565) $ (2,496,207)
Noncash Expenses:    
Depreciation and Amortization 61,445 48,814
Gain on Derivative Liability (1,092,441)
Stock Based Compensation - Employees 338,415 233,919
Stock Based Compensation - Third Party Services 23,490 55,937
Stock Based Compensation - Directors 43,442 122,274
Change in assets and liabilities:    
Accounts Receivable 120,434 (57,888)
Inventory (73,586) (187,348)
Prepaid Assets (17,197) (51,591)
Accounts Payable 33,958 186,831
Deferred Revenue (18,151) (14,388)
Accrued Expenses (372,188) (14,531)
NET CASH USED IN OPERATING ACTIVITIES (4,314,503) (3,266,620)
INVESTING ACTIVITIES    
Purchase of Property and Equipment (83,848) (52,931)
Purchase of Intangible Assets (115,197) (55,090)
NET CASH USED IN INVESTING ACTIVITIES (199,045) (108,021)
FINANCING ACTIVITIES    
Gross Proceeds from Public and Private Issuances of Securities 14,869,899
Less Offering Costs (1,600,967)
Proceeds from Exercise of Warrants 1,136,010
NET CASH PROVIDED BY FINANCING ACTIVITIES 14,404,942
NET CHANGE IN CASH FOR PERIOD (4,513,548) 11,030,301
CASH AT BEGINNING OF PERIOD 11,447,047 3,700,814
CASH AT END OF PERIOD 6,933,499 14,731,115
Noncash investing and financing activities disclosure:    
Issuance of Common Shares for Preferred Dividends 75,108
Other noncash operating activities disclosure:    
Issuance of Securities for services 66,932 178,209
Disclosure of cash paid for:    
Interest 3,389 3,382
Income Taxes