Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (38,007,757) $ (44,844,872)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation 602,304 844,833
Amortization of debt discount and issuance cost 2,527,102 3,139,779
Amortization of intangible assets 4,220,436 4,147,092
Amortization of right of use asset 841,895 1,060,398
Provision for obsolete inventory 120,790
Credit losses 992,571 1,050,000
Retirement of assets 1,578 52,595
Loss on intellectual property 27,670 12,223
Gain on termination of operating lease (12,256)
Impairment of long-term equity investment 1,500,000
Impairment of right of use asset and leasehold improvements 1,383,537
Impairment of property and equipment 1,127,768
Change in fair value of government grant liability (214,891) 427,208
Stock-based compensation 1,265,185 1,047,398
Changes in operating assets and liabilities:    
Cash paid for right of use asset (272,262)
Accounts receivable (2,890,779) (4,263,453)
Inventory (5,466,297) 1,481,078
Other current assets 491,263 (415,217)
Deposits and other assets (63,556) (318,460)
Accounts payable 1,155,590 1,241,951
Accrued expenses and other current liabilities 1,151,994 (494,029)
Deferred revenue 157,081 (1,387,099)
Operating lease liability (179,784) (812,249)
Other liabilities 82,500
Net cash flows used in operating activities (33,469,623) (34,019,519)
CASH FLOWS FROM INVESTING ACTIVITIES    
Patent costs (36,540) (70,081)
Purchase of equipment (1,636,395) (211,035)
Proceeds from sale of equipment 1,700 48,768
Purchase of software intangible (60,441)
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 (1,731,676) 536,273
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options and warrants 57,790 40,338
Proceeds from convertible notes payable, net of issuance costs, related party 5,436,897
Proceeds from convertible notes payable, net of issuance costs 31,560,009 9,309,513
Proceeds from notes payable, net of issuance costs, related party 1,422,186
Proceeds from government grant 299,838 189,752
Proceeds from sale of common stock and warrants, net of issuance costs 7,304,334
Proceeds from sale of redeemable preferred stock in Ondas Networks, net of issuance costs 4,375,035 14,692,335
Payments on convertible notes payable (4,354,911)
Payments on government grant liability (277,469) (6,576)
Payments on loan payable (1,140,301)
Net cash flows provided by financing activities 50,178,620 18,730,150
Increase (decrease) in cash, cash equivalents, and restricted cash 14,977,321 (14,753,096)
Cash, cash equivalents, and restricted cash beginning of period 15,022,000 29,775,096
Cash, cash equivalents, and restricted cash end of period 29,999,321 15,022,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid for interest 21,803 176,542
Cash paid for income taxes
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING ACTIVITIES:    
Preferred dividends attributable to redeemable noncontrolling interest 1,504,138 512,207
Accretion of redeemable preferred stock in Ondas Networks 2,907,567 1,001,538
Common stock, vested stock options, and warrants in relation to the acquisition of Airobotics, Ltd. 5,962,628
Common stock in relation to acquisition of the assets of Iron Drone, Ltd. 85,000
Debt exchanged for common stock 14,227,461 9,849,287
Warrants in relation to sale of redeemable preferred stock in Ondas Networks 1,471,194 4,593,051
Warrants in relation to sale of common stock 2,198,559
Warrants in Ondas Autonomous Systems, in relation to sale of common stock 954,737
Warrants in Ondas Networks, in relation to notes payable and convertible notes payable 1,324,215
Non-cash consideration for settlement of development agreement payable 342,428
Transfer of equipment into inventory 2,289,539
Operating leases right-of-use assets obtained in exchange of lease liabilities $ 3,875,700