Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (1,847,406) $ (3,814,468)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 76,156
Change in inventory value 156,600 366,840
Gain on forgiveness of PPP loan (285,818)
Stock-based compensation 1,141,932 2,687,901
Bad debt expense 78,125 163,917
Changes in operating assets and liabilities:    
Accounts receivable 50,693 93,388
Prepaid expenses and other assets (31,238) 23,688
Inventory 475,000
Accounts payable and accrued liabilities 83,366 (452,284)
Deferred revenue 107,083 (690,083)
Net cash used in operating activities (546,663) (1,069,945)
Net cash used in investing activities
Cash flows from financing activities:    
Proceeds from common stock placement 725,050 525,000
Proceeds from notes payable 139,595
Proceeds from shareholder advance   100,000
Net cash provided by financing activities 725,050 764,595
Net (decrease) increase in cash 178,387 (305,350)
Cash, beginning of period 71,075 376,425
Cash, end of period 249,462 71,075
Supplemental disclosures of cash flow information:    
Cash paid for interest
Cash paid for income taxes
Non-cash investing and financing activities:    
Shares issued for equity financing 250,000
Commitment shares issued in conjunction with capital raise 200,000
Shares issued for vested restricted stock units $ 111 $ 662