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, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net Loss $ (2,680,703) $ (2,132,409)
Adjustments to reconcile net loss to net cash from operating activities:    
Bad debt expense 60,570 4,675
Depreciation expense 67,354 84,616
Amortization of intangible assets 0 28,741
Unrealized gain on marketable equity securities 9,155 (27,565)
Realized loss on marketable equity securities 0 14,249
Gain on bargain purchase 0 (61,747)
Stock-based compensation – shares 229,018 168,304
Stock option compensation – options 73,990 266,806
Changes in operating assets and liabilities:    
Accounts receivable 84,053 (27,741)
Accounts receivable - related party 0 34,507
Inventory (213,873) 15,526
Other receivable 20,394 0
Prepaid expenses (1,833) (46,109)
Deposit (2,223) 8,514
Operating lease right-of-use asset 42,985 4,983
Accounts payable and accrued liabilities 581,696 73,823
Other current liabilities 92,191 39,100
Lease liabilities (72,385) (55,012)
Other liabilities (12,335) 0
Net cash flows used in operating activities (1,721,946) (1,606,739)
Cash flows from investing activities:    
Purchase of property and equipment (9,743) (17,203)
Purchase of marketable securities 0 (43,644)
Proceeds from sale of marketable securities 0 101,736
Net cash flows provided by (used in) investing activities (9,743) 40,889
Cash flows from financing activities:    
Proceeds from third party loan 350,000 0
Proceeds from related party loan 1,101,000 0
Repayment on third party loan (125,000) 0
Purchase of treasury stock 0 (1,420,686)
Net cash flows provided by (used in) financing activities 1,326,000 (1,420,686)
Effect of exchange rate (9,501) 1,793
Net change in cash (415,190) (2,984,743)
Cash beginning of period 428,254 4,343,426
Cash end of period 13,064 1,358,683
Supplemental cash flow disclosure:    
Cash paid for income taxes 0 0
Cash paid for interest 57,218 8,407
Supplemental disclosure for noncash financing activities:    
Right-of-use assets obtained in exchange for operating lease liabilities $ 0 $ 266,101