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 ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (3,100,442) $ (3,872,247)
Adjustments to reconcile net loss to net cash from operating activities:    
Bad debt expense 6,871 72,108
Inventory fair value net realizable 0 (21,133)
Depreciation expense 127,171 123,908
Amortization of intangible assets 28,741 0
Unrealized (gain) loss on marketable equity securities (10,463) 32,525
Realized loss on marketable equity securities 2,002 21,205
SBA loan forgiveness 0 (158,547)
Gain on bargain purchase (61,747) 0
Stock-based compensation – shares 183,004 671,901
Stock-based compensation – options 400,208 652,500
Changes in operating assets and liabilities:    
Accounts receivable (101,461) (32,257)
Accounts receivable - related party 34,507 (45,413)
Inventory (196,201) (5,087)
Other receivables (10,000) 0
Prepaid expenses 31,811 116,648
Deposit 8,388 1,998
Operating lease right-of-use assets 25,585 226,468
Accounts payable and accrued liabilities 53,709 (120,121)
Other current liabilities 33,759 (17,406)
Lease liabilities (58,987) (94,542)
Other liabilities 0 12,335
Net cash flows used in operating activities (2,603,545) (2,435,157)
Cash flows from investing activities:    
Purchase of property and equipment (20,294) (39,193)
Purchase of marketable securities (144,907) (768,949)
Proceeds from sale of marketable securities 219,673 630,404
Net cash flows provided by (used in) investing activities 54,472 (177,738)
Cash flows from financing activities:    
Proceeds from related party loan 1,000,000 0
Purchase of treasury stock (1,385,686) 0
Net cash flows used in financing activities (385,686) 0
Effect of exchange rate 20 (3,352)
Net change in cash (2,934,739) (2,616,247)
Cash beginning of period 4,343,426 8,678,665
Cash end of period 1,408,687 6,062,418
Supplemental cash flow disclosure:    
Cash paid for income taxes 0 0
Cash paid for interest 13,142 8,794
Supplemental disclosure for noncash investing and financing activities:    
Right-of-use assets obtained in exchange for operating lease liabilities 264,641 0
Treasury stock payable 0 2,000,000
Cashless exercise of options $ 41,401 $ 612,662