Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities    
Net Loss $ (20,527,668) $ (18,396,842)
Non-Cash Adjustments    
Depreciation and Amortization 963,012 1,019,090
Amortization of Software Development Costs and Prepaid Licenses in Cost of Sales - Products 130,883 120,197
Stock-Based Compensation 8,200,774 8,661,613
Impairment of Patents and Trademarks 49,602 58,496
Loss on Fixed Asset Disposal   83,908
(Increase) Decrease in Operating Assets    
Accounts Receivable 678,523 289,567
Accrued Revenues in Excess of Billings (108,866)  
Increase Decrease Accrued Revenue In Excess Of Billings 108,866  
Inventories 359,893 (1,783,539)
Manufacturing Vendor Prepayments (654,569) (2,565,073)
Prepaid Expenses and Other Assets 492,599 (522,084)
Increase (Decrease) in Operating Liabilities    
Accounts Payable (732,813) (92,188)
Accrued Expenses 195,276 75,055
Unearned Revenue 12,829 (27,453)
Income and Other Taxes (76,384) (29,450)
Net Cash Flows Used in Operating Activities (11,016,909) (13,108,703)
Cash Flows from Investing Activities    
Purchases of Fixed Assets (3,504,931) (719,164)
Investments in Patents and Trademarks (272,686) (214,450)
Investments in Licenses, Intangible and Other Assets (4,625,000) (305,158)
Net Cash Flows Used in Investing Activities (8,402,617) (1,238,772)
Cash Flows from Financing Activities    
Proceeds from Exercise of Warrants   34,705,068
Proceeds from Exercise of Stock Options 48,505 673,759
Proceeds from Common Stock Offering, Net   91,647,850
Purchases of Treasury Stock (251,057)  
Preferred Dividend Settlement Payment   (10,000,000)
Employee Tax Withholdings Payment   (1,144,365)
Net Cash Flows (Used in) Provided from Financing Activities (202,552) 115,882,312
Net Cash Flows (Used in) Provided from Financing Activities (19,622,078) 101,534,837
Cash and Cash Equivalents - Beginning of Period 120,203,873 36,069,508
Cash and Cash Equivalents - End of Period 100,581,795 137,604,345
Supplemental Disclosures    
Unamortized Common Stock Expense included in Prepaid Expenses and Other Assets 1,223,691 101,517
Non-Cash Investment in Licenses 10,500,000 1,404,750
Stock-Based Compensation Expense - Expensed less Previously Issued $ (337,379) $ 117,467