Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

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Condensed Consolidated Statements Of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (5,731,364) $ (4,105,733)
Net loss from discontinued operations, net of tax   (1,172,252)
Net loss from continuing operations (5,731,364) (2,933,481)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,588,564 2,694,869
Share based compensation 185,723 612,982
Fair value remeasurement of earnout consideration (800,000) 930,000
Fair value remeasurement of warrant liability (461,022)  
Fair value remeasurement of embedded derivative liability 1,055,600  
Fair value remeasurement of contingent value rights (492,860) (1,392,195)
Gain on sale of assets (6,118) (244,271)
Interest and accretion expense 1,500,503 1,057,553
Changes in assets and liabilities:    
Trade accounts receivable 268,340 (41,416)
Inventories 327,540 1,461,933
Income taxes (69,971) (26,569)
Other assets, net (264,877) 2,564,799
Accounts payable 822,503 (1,075,338)
Accrued compensation and benefits (436,080) 49,133
Customer deposits (774,524) (1,615,514)
Other accrued liabilities 758,737 (3,201,736)
Accrued interest (896,420) (240,143)
Net cash used in operating activities (3,425,726) (1,399,394)
Net cash used in operating activities - discontinued operations   (261,588)
Net cash used in operating activities (3,425,726) (1,660,982)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (17,579) (409,762)
Proceeds from the sale of property, plant and equipment 6,118  
Proceeds from the sale of investments   1,358,418
Net cash (used in) provided by investing activities (11,461) 1,198,656
Net cash provided by investing activities - discontinued operations   1,102,935
Net cash (used in) provided by investing activities (11,461) 2,301,591
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from loans payable   7,726,361
Payments against loans payable (748,647) (6,706,025)
Equity issuance costs paid (81,012)  
Proceeds from the issuance of common stock under registered direct offering 1,000,000  
Proceeds from the issuance of Series B preferred stock 15  
Payments for contingent value rights distributions
Proceeds from issuance of common stock, net of shares withheld 9,773 125,398
Cash in lieu payment on fractional shares under reverse stock split (1,132)  
Payment of contingent consideration related to acquisition
Purchase of common stock (6,098) (6,291)
Net cash provided by financing activities 172,899 791,378
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (3,264,288) 1,431,987
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 5,396,343 5,256,478
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 2,132,055 6,688,465
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Income taxes paid 69,500 26,332
Interest paid 821,306 248,627
NONCASH FINANCING AND INVESTING ACTIVITIES:    
Gain on extinguishment of related party debt   36,291
Deemed dividend on Convertible Preferred Stock and PIPE Warrants 11,322,639  
Conversion of redeemable convertible preferred stock to common stock $ 15,277,055  
Operating right of use assets obtained in exchange for lease obligations   $ 753,972