v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss from continuing operations $ (7,320,538) $ (10,159,560)
Income from discontinued operations 2,684,678
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 398,843 84,678
Amortization of intangible assets 41,506 6,834
Amortization of deferred license costs 30,589
Amortization of debt issuance costs and debt discount 843,765 1,612,377
Amortization of right of use asset 761,767
Gain on deconsolidation – SG DevCorp (4,728,348)
Loss on disposition of equity-based investment 180,600
Change in fair value of equity-based investment 311,560 5,133,443
Stock-based compensation 212,596 527,336
Changes in operating assets and liabilities:    
Accounts receivable (154,364) (181,602)
Contract assets   (102,256)
Costs in excess (128,262)  
Inventories 189,598 (66,890)
Prepaid expenses and other current assets 74,626 19,298
Intangible assets (23,921)
Accounts payable and accrued expenses 2,472,345 384,749
Lease liability (66,821) (942,264)
Customer deposit  
Project development and other assets (886)
Contract liabilities (37,081) 370,396
Due from affiliates (16,433)
Net cash used in operating activities by continuing operations (3,179,546) (4,408,095)
Net cash used in operating activities by discontinued operations (1,593,346)
Cash flows from investing activities:    
Cash paid for business combination – Sherman Oil (1,000,000)  
Cash paid for business combination – County Line (1,000,000)  
Purchase of property, plant and equipment (364,847) (7,227)
Cash received in business combination - NAHD 77,013
Project development costs (154,090)
Investment in equity method investment (186,000)
Net cash used in investing activities by continuing operations (2,473,834) (161,317)
Net cash used in investing activities by discontinued operations (104,352)
Cash flows from financing activities:    
Repayment of short term notes payable (1,634,809) (1,588,001)
Borrowings on short-term notes payable 3,044,232 1,032,419
Proceeds from issuance of common stock, net of debt issuance costs 6,635,294  
Proceeds from warrant inducement 494,213
Prefunded warrant exercise 15
Issuance of common stock from EP Agreement 3,619,253
Net cash provided by financing activities by continuing operations 8,044,717 3,557,889
Net cash provided by financing activities by discontinued operations 3,687,545
Net increase in cash and cash equivalents 2,391,337 978,334
Cash and cash equivalents - beginning of period 375,873 14,212
Cash and cash equivalents - end of period 2,767,210 992,546
Assets and liabilities effected in deconsolidation    
Cash 567,473
Assets held for sale 4,400,361
Prepaid expenses and other current assets 429,331
Property and equipment, net 1,194,117
Project development costs and other assets 91,490
Goodwill 1,810,787
Intangible assets 138,678
Investments in equity-based investments 3,642,607
Accounts payable and accrued expenses 1,600,294
Contingent consideration payable 945,000
Short-term notes payable 6,476,723
Supplemental disclosure of non-cash investing and financing activities:    
Cashless warrant exercise 114
Fractional common share adjustment 1
Common stock deemed dividend 1,638,149
Conversion of short-term notes payable to common stock 802,086
Forgiveness of related party debt and investment 1,275,416
Common stock and warrants issued for debt 332,049
Common stock issued for conversion of accrued interest – related party 494,912  
Common stock issued for conversion of preferred stock $ 151,360  

Source

HTML PDF
XBRL
ZIP