v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (3,064,019) $ (3,744,582)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 317,249 294,860
Amortization of intangible assets 122,587 124,053
Amortization of deferred license costs 30,589 30,589
Amortization of debt issuance costs 23,726
Bad debt expense 7,024 161,202
Interest income on long-term note receivable (28,048) (28,048)
Stock-based compensation 1,874,857 778,657
Loss on asset disposal 241 34,182
Changes in operating assets and liabilities:    
Accounts receivable 1,197,149 (1,092,210)
Escrow - bond (2,000,000)
Contract assets 41,916 818,514
Inventories 378,863 (11,937)
Prepaid expenses and other current assets (35,845) (235,202)
Right of use asset 356,350 390,581
Accounts payable and accrued expenses (4,006,868) 3,173,788
Contract liabilities (163,161) (598,560)
Due to affiliates (264,451) (738,451)
Lease liability (341,319) (389,853)
Net cash used in operating activities (5,553,160) (1,032,417)
Cash flows from investing activities:    
Purchase of property, plant and equipment (1,996,200) (4,806,294)
Purchase of intangible asset (42,500)
Proceeds from sale of equipment 760 225,000
Repayment of promissory note (100,000)
Payment on assumed liability of acquired assets (194,969)
Project development costs and other non-current assets (805,362)
Investment in and advances to equity affiliates (148,570) (3,464,762)
Investment in non-marketable securities (500,000)
Net cash used in investing activities (3,549,372) (8,283,525)
Cash flows from financing activities:    
Proceeds from conversion of warrants to common stock 707,188
Repurchase of common stock (49,680)
Proceeds from short-term note payable 500,000 1,948,234
Distribution paid to non-controlling interest (2,254,000) (3,059,134)
Net cash used in financing activities (1,803,680) (403,712)
Net decrease in cash and cash equivalents (10,906,212) (9,719,654)
Cash and cash equivalents - beginning of period 13,024,381 13,010,356
Cash and cash equivalents - end of period 2,118,169 3,290,702
Supplemental disclosure of non-cash investing and financing activities:    
Initial value of lease liability $ 1,801,584

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