v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (12,683,098) $ (3,064,019)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 277,648 317,249
Amortization of intangible assets 140,437 122,587
Amortization of deferred license costs 30,589 30,589
Amortization of debt issuance costs and debt discount 685,308 23,726
Amortization of right of use asset 613,092
Common stock issued for services 484,825
Bad debt expense 7,024
Interest income on long-term note receivable (21,884) (28,048)
Stock-based compensation 3,210,631 1,874,857
Loss on asset disposal 241
Changes in operating assets and liabilities:    
Accounts receivable 539,157 1,197,149
Escrow - bond (2,000,000)
Contract assets 17,993 41,916
Inventories 63,374 378,863
Prepaid expenses and other current assets (82,710) (35,845)
Intangible assets (93,971)
Right of use asset 356,350
Accounts payable and accrued expenses 2,183,831 (4,006,868)
Contract liabilities 873,731 (163,161)
Due to affiliates (264,451)
Lease liability (925,815) (341,319)
Assumed liability 15,000
Net cash used in operating activities (4,671,862) (5,553,160)
Cash flows from investing activities:    
Purchase of property, plant and equipment (530,057) (1,996,200)
Proceeds from sale of equipment 760
Repayment of promissory note (100,000)
Project development costs (119,885) (805,362)
Investment in and advances to equity affiliates (42,662) (148,570)
Investment in non-marketable securities (500,000)
Net cash used in investing activities (692,604) (3,549,372)
Cash flows from financing activities:    
Repurchase of common stock (42,716) (49,680)
Repayment of short term notes payable (2,732,144)
Proceeds from short-term notes payable and warrants, net of debt issuance costs 7,609,514 500,000
Proceeds from long-term notes payable 706,359
Distribution paid to non-controlling interest (46,417) (2,254,000)
Net cash provided by (used in) financing activities 5,494,596 (1,803,680)
Net increase/(decrease) in cash and cash equivalents 130,130 (10,906,212)
Cash and cash equivalents - beginning of period 582,776 13,024,381
Cash and cash equivalents - end of period 712,906 2,118,169
Supplemental disclosure of non-cash investing and financing activities:    
Initial value of lease liability 1,801,584
Conversion of short-term notes payable to common stock $ 700,000

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