Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (2,348,771) $ (3,266,510)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 192,061 470,685
Depreciation and amortization 273,087 337,664
Amortization of bond premium and realized loss on investments 21,737 12,702
Bad debt expense 3,121 4,010
Changes in operating assets and liabilities:    
Accounts receivable (219,739) (133,401)
Inventory 5,176 (23,634)
Prepaid expenses and other (17,232) (24,249)
Operating lease assets and liabilities 9,981 35,868
Accounts payable and accrued expenses (432,838) 256,887
Net cash used in operating activities (2,513,417) (2,329,978)
Cash flows from investing activities:    
Maturity and sale of debt securities 1,150,928
Acquisition of business (321,250)
Acquisition of fixed assets (1,271,548)
Net cash used in investing activities 1,150,928 (1,592,798)
Cash flows from financing activities:    
 Borrowings under line of credit 152,500
Proceeds from issuance of common stock – ATM 25,308
Proceeds from issuance of debt 893,928
ATM expenses (25,308)
Repayment of debt (199,723) (113,145)
Net cash provided by financing activities (199,723) 933,283
Net change in cash and cash equivalents (1,562,212) (2,989,493)
Cash and cash equivalents at beginning of period 2,066,793 13,561,266
Cash and cash equivalents cash at end of period 504,581 10,571,774
Supplemental disclosure of cash flow information:    
Cash paid for interest 31,735 9,024
Cash paid for taxes