Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (27,672,088) $ (30,706,098)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation 424,637 648,624
Amortization of debt discount 1,502,657 2,438,462
Amortization of intangible assets 3,161,729 3,103,591
Amortization of right of use asset 902,851 715,041
Loss on disposal of equipment 1,578 7,757
Loss on intellectual property 12,223
Stock-based compensation 988,683 636,350
Change in fair value of government grant liability (605,889) 161,764
Changes in operating assets and liabilities:    
Accounts receivable 553,887 (4,677,726)
Inventory (4,402,549) 1,087,558
Other current assets 426,879 767,152
Deposits and other assets 117,125 (370,684)
Accounts payable (482,249) 1,536,991
Deferred revenue 170,776 (1,323,025)
Operating lease liability (459,243) (710,546)
Accrued expenses and other current liabilities (71,933) (1,436,178)
Other liabilities 82,500
Net cash flows used in operating activities (25,360,649) (28,108,744)
CASH FLOWS FROM INVESTING ACTIVITIES    
Patent costs (22,030) (62,281)
Purchase of equipment (1,606,358) (94,972)
Proceeds from sale of equipment 1,700 33,568
Purchase of software intangible (32,678)
Cash paid for Iron Drone asset acquisition (135,000)
Cash acquired on the acquisition of Airobotics Ltd. 1,049,454
Cash paid for Field of View LLC asset acquisition (145,833)
Net cash flows provided by (used in) investing activities (1,659,366) 644,936
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from sale of noncontrolling interest in Ondas Networks, net of issuance costs 4,375,035 14,692,335
Proceeds from sale of common stock, net of issuance costs 7,327,334
Proceeds from exercise of options and warrants 8,702 10,791
Proceeds from government grant 299,838 189,752
Proceeds from convertible notes, net of issuance costs 1,482,868 9,309,513
Proceeds from notes payable, net of issuance costs 1,377,524
Payments on convertible notes payable (4,354,911)
Payments on government grant liability (6,576)
Payments on loan payable (1,140,301)
Net cash flows provided by financing activities 14,871,301 18,700,603
Decrease in cash, cash equivalents, and restricted cash (12,148,714) (8,763,205)
Cash, cash equivalents, and restricted cash, beginning of period 15,022,000 29,775,096
Cash, cash equivalents, and restricted cash, end of period 2,873,286 21,011,891
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid for interest 16,845 163,418
Cash paid for income taxes
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common Stock and warrants issued in relation to acquisition of Airobotics, Ltd. 5,962,628
Common Stock issued in relation to acquisition of the assets of Iron Drone, Ltd. 85,800
Common stock issued in exchange for debt repayment 2,079,375 7,320,284
Noncash consideration for settlement of development agreement payable 342,428
Warrants in Ondas Autonomous Systems, in relation to sale of common stock 954,737
Warrants in Ondas Holdings, in relation to sale of common stock 2,198,559
Warrants in relation to sale of redeemable preferred stock in Ondas Networks 1,471,194 12,683,549
Warrants in Ondas Networks, in relation to note payable 589,924
Preferred dividends attributable to redeemable noncontrolling interest 1,114,138 21,208
Accretion of redeemable preferred stock in Ondas Networks 2,112,784 410,322
Transfer of equipment into inventory 2,289,539
Operating leases right-of-use assets obtained in exchange of lease liabilities $ 105,950