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 $ (1,828,465) $ (1,191,317)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 482,964 224,832
Depreciation and amortization 218,276 80,092
Loss on disposal of asset 18,408
Change in right-of-use asset 118,206 93,106
Net change in fair value of marketable securities (8,034) 85,538
Changes in operating assets and liabilities:    
Accounts receivable (611,163) 118
Inventories (788,455) (1,413,413)
Prepaid expenses and other current assets 263,842 83,888
Accounts payable 650,441 768,632
Accrued liabilities (611,553) 203,224
Operating lease liabilities (119,209) (88,881)
Contract liabilities 500 (13,900)
Net cash used in operating activities (2,232,650) (1,149,673)
Cash Flows From Investing Activities    
Net sales of investment in trading marketable securities 501,001 516
Proceeds from sale of property and equipment 80,000
Purchase of property and equipment (744,008) (728,371)
Net cash used in investing activities (243,007) (647,855)
Cash Flows From Financing Activities    
Deferred offering cost (116,394)
Finance lease liability (2,835)
Net cash used in financing activities (2,835) (116,394)
Net change in cash, cash equivalents and restricted cash (2,478,492) (1,913,922)
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 21,022,515 5,061,380
Supplemental Cash Flow Information    
Cash paid for interest 59,895 38,647
Non-Cash Financing Activities    
Finance lease $ 92,405