Quarterly report [Sections 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, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net Loss $ (2,765,036) $ (2,757,026)
Adjustments to reconcile net loss to net cash from operating activities:    
Inventory reserve 0 1,644
Depreciation expense 198,588 10,959
Amortization expense 9,158 0
Unrealized gain on marketable equity securities 0 (14,753)
Realized gain on marketable equity securities (98,936) 0
Stock-based compensation – shares 199,022 189,861
Stock based compensation – options 4,504 20,568
Changes in operating assets and liabilities:    
Accounts receivable (61,518) 5,434
Inventories 14,863 (13,943)
Other receivable 20,000 (88,201)
Prepaid expenses 251,799 4,186
Deposit 8,688 2,593
Operating lease right-of-use asset 40,435 47,360
Accounts payable and accrued liabilities 59,082 91,354
Other current liabilities 297,675 (64,638)
Lease liabilities (67,601) (83,686)
Net cash flows used in operating activities (1,889,277) (2,648,288)
Cash flows from investing activities:    
Purchase of property and equipment (6,656,031) (25,091)
Capitalized software costs (97,844) 0
Proceeds from sale of marketable securities 121,823 0
Net cash flows used in investing activities (6,632,052) (25,091)
Cash flows from financing activities:    
Redemption of preferred stock (961,861) 0
Repayment on bank loan (51,294) 0
Shares issued for pre-funded units 3,547,348 0
Stock issued for private placement 0 381,224
Purchases of treasury stock (354,143) (173,837)
Net cash flows provided by financing activities 2,180,050 207,387
Effect of exchange rate 6,579 (12,125)
Net change in cash (6,334,700) (2,478,117)
Cash beginning of period 7,934,958 3,589,318
Cash end of period 1,600,258 1,111,201
Supplemental cash flow disclosure:    
Cash paid for income taxes 0 3,525
Cash paid for interest 86,103 0
Supplemental disclosure of non-cash investing and financing activities:    
Accretion of redeemable series B preferred stock discount 226,666 0
Conversion of series B preferred stock to common stock 5,127,200 0
Gain on cancellation of preferred stock 83,890 0
Right-of-use assets obtained in exchange for operating lease liabilities 175,271 0
Issuance to bank loan on building acquisition $ 11,050,000 $ 0