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 ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities    
Net loss $ (3,732,208) $ (1,730,105)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 972,325 526,723
Depreciation and amortization 502,840 199,909
 Loss on disposal of asset 49,990
Change of right-of-use asset and lease liabilities 236,712 189,647
Net change in fair value of marketable securities (3,077) 112,576
Changes in operating assets and liabilities:    
Accounts receivable (555,966) 5,137
Inventories (1,568,148) (2,569,780)
Prepaid expenses and other current assets 427,666 395,553
Accounts payable 399,720 1,061,573
Accrued liabilities (48,279) 226,537
Operating lease liabilities (238,717) (182,038)
Contract liabilities 177,035 518,027
Net cash used in operating activities (3,430,097) (1,196,251)
Cash Flows From Investing Activities    
Security deposit (15,000)
Net sales of investment in trading marketable securities 983,198 2,002,591
Proceeds from sale of property and equipment 80,000
Purchase of property and equipment (1,623,867) (1,809,486)
Net cash (used in) provided by investing activities (655,669) 273,105
Cash Flows From Financing Activities    
Forza net proceeds from issuance of common stock 6,996,015
Forza deferred offering cost (66,463) (141,629)
Finance lease liabilities (7,666)
Net cash provided by (used in) financing activities 6,921,886 (141,629)
Net change in cash, cash equivalents and restricted cash 2,836,120 (1,064,775)
Cash, cash equivalents and restricted cash at beginning of period 23,501,007 6,975,302
Cash, cash equivalents and restricted cash at end of period 26,337,127 5,910,527
Supplemental Cash Flow Information    
Cash paid for interest 110,395 73,471
Non Cash Investing and Financing Activities    
Finance leases $ 2,899,238