v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (11,479,002) $ (10,553,108)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 452,848 257,791
Loss on disposal of fixed asset 11,666
Stock-based compensation 508,869 591,663
Amortization of right-of-use asset 81,524 118,092
Bad debt expense 292,010 2,069
Unrealized (gain) loss on marketable securities (198,215) 35,580
Realized (gain) on marketable securities (73,193)
Impairment of inventory and prepaid 1,938,386
Change in operating assets and liabilities:    
Accounts receivable 113,906 (955,609)
Inventory (2,079,590) 325,282
Prepaid expenses and other current assets (1,790,987) (785,762)
Accounts payable (405,979) 164,809
Accrued expenses (234,155) (838,304)
Lease obligations - operating leases (93,181) (132,403)
Net cash used in operating activities (14,893,479) (9,831,514)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,271,311) (414,197)
Purchase of marketable securities, net (9,343,804) (18,006,486)
Purchase of intangible assets (18,703) (17,500)
Net cash used in investing activities (10,633,818) (18,438,183)
Net change in cash (25,527,297) (28,269,697)
Cash, beginning of period 39,096,562 69,160,466
Cash, end of period 13,569,265 40,890,769
Supplemental disclosure of cash and non-cash transactions:    
Accrued Fixed Assets 194,335
Restricted Stock issued, previously accrued $ 329,381

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