v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (7,288,520) $ (6,482,062)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 1,861 11,160
Stock-based compensation- stock option grants 803,797 479,913
Stock-based compensation- warrants 284,478 2,136,115
Amortization of operating lease right of use asset 174,914 513,234
Accelerated amortization of ROU asset - lease termination 0 265,130
Gain from lease termination 0 (344,093)
Issuance of common stock for services 198,500 0
Noncash interest expense 520,758 0
Loss from change in fair value of warrant liability 2,833,558 0
Loss from change in fair value of earnout liability 1,095,962 0
Loss from change in fair value of convertible note 141,636 400,921
Loss on note conversions 593,591 0
Changes in operating assets and liabilities:    
Accounts receivable 527,042 104,814
Prepaid expenses and other 132,512 (295)
Other assets 26,901 (255,431)
Operating lease liability (132,525) (461,203)
Payroll and income tax receivable 7,230 960,383
Accounts payable - trade and accrued expenses (2,261,087) 377,519
Accrued income tax expense 0 (10,000)
Deferred revenue (2,058,893) (220,144)
NET CASH USED IN OPERATING ACTIVITIES (4,398,285) (2,524,039)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock and warrants for offering, net 7,290,000 0
Proceeds from convertible promissory note 0 1,984,582
Proceeds from warrant exercise 294,049 0
Advances from founders, net 0 1,150,000
Proceeds from stock option exercises 196,173 0
Repayment of small business loan and line of credit 0 (424,540)
NET CASH PROVIDED BY FINANCING ACTIVITIES 7,780,222 2,710,042
Effect from exchange rate on cash 9,338 (2,244)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS 3,381,937 186,003
CASH AND CASH EQUIVALENTS, beginning of period 3,124,413 298,614
CASH AND CASH EQUIVALENTS, end of period 6,515,688 482,373
Supplemental disclosures of cash flow information:    
Interest paid 0 21,438
Taxes paid 2,410 17,247
Noncash investing and financing    
Elimination of advances to founders in connection with contribution of Zeppelin by shareholders 0 1,100,000
Elimination of payables to founders in connection with contribution of Zeppelin by shareholders 0 1,100,000
Issuance of common stock for debt interest payment 487,642  
Issuance of common stock for debt conversion 1,770,340 0
Recognition of warrant liability $ 0 $ 15,418

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