Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities:    
Net loss $ (2,465,664) $ (3,627,492)
Adjustments to reconcile net loss to net cash used in operating activities:    
Provision for credit losses 9,471  
Depreciation and amortization   162,221
Change in fair value of contingent consideration   (589,622)
Stock-based compensation Common stock 108,206 429,811
Stock-based compensation Options 2,241 2,295
Changes in operating assets and liabilities:    
Accounts receivable 28,055 (60,930)
Prepaid expenses and other current assets 33,329 590,661
Accounts payable - suppliers (287,284) 630,026
Accounts payable - trade (39,645) 391,034
Accrued expenses and other current liabilities (190,221) (1,532,150)
Deferred revenue (27,836) (369,195)
Net Cash Used In Operating Activities (2,829,348) (3,973,341)
Cash Flows From Investing Activities:    
Purchase of property and equipment   (7,520)
Net Cash Used In Investing Activities   (7,520)
Cash Flows From Financing Activities:    
Repayment of PPP loan   (109,270)
Repayment of financed director and officer insurance premiums (82,180) (108,788)
Net Cash Used In Financing Activities (82,180) (218,058)
Net Decrease In Cash and Cash Equivalents (2,911,528) (4,198,919)
Cash and Cash Equivalents - Beginning of the Period 14,739,484 24,907,963
Cash and Cash Equivalents - End of the Period 11,827,956 20,709,044
Cash paid during the period for:    
Interest $ 3,215  
Non-cash investing and financing activities:    
Surrender and cancellation of common stock   $ (18,683)