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, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net Loss $ (1,315,597) $ (1,114,243)
Adjustments to reconcile net loss to net cash from operating activities:    
Bad debt expense 7,629 5,114
Depreciation expense 35,330 42,041
Amortization of intangible assets 0 28,741
Unrealized gain on marketable equity securities 1,475 (32,570)
Realized loss on marketable equity securities 0 14,901
Gain on bargain purchase 0 (61,747)
Stock-based compensation – shares 94,910 149,404
Stock option compensation – options 36,995 133,403
Changes in operating assets and liabilities:    
Accounts receivable 72,605 8,832
Accounts receivable - related party 0 34,507
Inventory (125,286) 13,109
Other receivable 20,435 0
Prepaid expenses (14,041) (80,511)
Deposit 0 8,617
Operating lease right-of-use asset 21,039 (16,075)
Accounts payable and accrued liabilities 268,420 (20,011)
Other current liabilities 68,957 98,838
Lease liabilities (64,960) (50,885)
Net cash flows used in operating activities (892,089) (838,535)
Cash flows from investing activities:    
Purchase of property and equipment (5,044) (9,920)
Purchase of marketable securities 0 (17,690)
Proceeds from sale of marketable securities 0 89,434
Net cash flows provided by (used in) investing activities (5,044) 61,824
Cash flows from financing activities:    
Proceeds from short-term loan 300,000 0
Proceeds from related party loan 300,000 0
Repayment on third party loan (50,000) 0
Purchase of treasury stock 0 (1,000,000)
Net cash flows provided by (used in) financing activities 550,000 (1,000,000)
Effect of exchange rate (2,285) 3,760
Net change in cash (349,418) (1,772,951)
Cash beginning of period 428,254 4,343,426
Cash end of period 78,836 2,570,475
Supplemental cash flow disclosure:    
Cash paid for income taxes 0 0
Cash paid for interest 33,816 4,085
Supplemental disclosure for noncash financing activities:    
Right-of-use assets obtained in exchange for operating lease liabilities $ 0 $ 270,481