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 ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 1,202,651 $ (2,554,989)
Net income from discontinued operations, net of tax   44,683
Net income (loss) from continuing operations 1,202,651 (2,599,672)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 801,792 1,377,023
Share based compensation 197,306 312,445
Fair value remeasurement of earnout consideration (350,000) 825,000
Fair value remeasurement of warrant liability (3,728,593)  
Fair value remeasurement of contingent value rights (376,085) 250,000
Gain on sale of assets (6,118) (244,271)
Interest and accretion expense 764,870 458,218
Changes in assets and liabilities:    
Trade accounts receivable 53,395 (513,802)
Inventories 641,301 624,532
Income taxes 6,162 (332)
Other assets, net (184,227) 2,274,326
Accounts payable (684,194) 153,962
Accrued compensation and benefits (48,386) (121,982)
Customer deposits (293,877) (1,532,973)
Other accrued liabilities (191,396) (1,129,141)
Accrued interest (453,881) (85,893)
Net cash (used in) provided by operating activities (2,649,280) 47,440
Net cash used in operating activities - discontinued operations   (173,019)
Net cash used in operating activities (2,649,280) (125,579)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (5,594) (329,657)
Proceeds from the sale of property, plant and equipment 6,118  
Proceeds from the sale of investments   673,114
Net cash provided by investing activities 524 343,457
Net cash used in investing activities - discontinued operations   (3,681)
Net cash provided by investing activities 524 339,776
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from loans payable   226,361
Payments against loans payable (372,299) (97,821)
Equity issuance costs paid (81,012)  
Proceeds from the issuance of common stock under registered direct offering 1,000,000  
Proceeds from issuance of common stock, net of shares withheld 1,040  
Purchase of common stock (2,865) (6,291)
Net cash provided by financing activities 544,864 122,249
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (2,103,892) 336,446
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 3,292,451 5,592,924
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Income taxes paid   332
Interest paid 416,504 80,578
NONCASH FINANCING AND INVESTING ACTIVITIES:    
Deemed dividend on Convertible Preferred Stock and PIPE Warrants 11,322,639  
Conversion of redeemable convertible preferred stock to common sock $ 8,386,387  
Operating right of use assets obtained in exchange for lease obligations   $ 596,093