Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.4
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITES    
Net loss $ (73,241,805) $ (15,023,842)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation 449,458 116,231
Amortization of debt discount and issuance cost 3,545,843 120,712
Provision for obsolete inventory   100,254
PPP Loan forgiveness (666,091)
Amortization of intangible assets 3,570,090 1,396,364
Deferred income taxes, release of valuation allowance   (2,921,982)
Amortization of right of use asset 833,940 302,931
Retirement of assets 382,060  
Impairment of goodwill 19,419,600  
Loss on Intellectual Property 12,343 97,789
Stock-based compensation 5,857,435 3,253,590
Changes in operating assets and liabilities:    
Accounts receivable 1,108,919 (1,153,315)
Inventory (994,672) (126,494)
Other current assets (300,003) (696,280)
Accounts payable 554,744 (86,658)
Deferred revenue (450,889) 314,370
Operating lease liability (684,205) (336,432)
Accrued expenses and other current liabilities 1,974,066 (1,586,563)
Net cash flows used in operating activities (37,963,076) (16,895,416)
CASH FLOWS FROM INVESTING ACTIVITIES    
Patent costs (49,501) (104,112)
Purchase of equipment (2,880,900) (923,718)
Cash paid for Ardenna Inc. asset acquisition (900,000)
Purchase of American Robotics, Inc., net of cash acquired (6,517,338)
Investment in Dynam A.I. (1,000,000) (500,000)
Cash paid for Field of View LLC asset acquisition (104,167)  
Security deposit (165,463)
Cash disbursement on note receivable (2,000,000) (2,000,000)
Net cash flows used in investing activities (6,934,568) (10,210,631)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from sale of common stock, net of costs 47,523,569
Proceeds from exercise of stock options and warrants 64,909 1,461,146
Proceeds from convertible notes payable, net of issuance costs 27,702,292  
Payments on loan payable (7,124,278)
Proceeds from sale of shares under ATM agreement 6,090,416
Net cash flows provided by financing activities 33,857,617 41,860,437
Increase (Decrease) in cash and cash equivalents (11,040,027) 14,754,390
Cash and cash equivalents, beginning of period 40,815,123 26,060,733
Cash and cash equivalents, end of period 29,775,096 40,815,123
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid for interest 14,187 1,042,737
Cash paid for income taxes
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING ACTIVITIES:    
Forgiveness of accrued officer’s salary 135,103
Debt exchanged for common stock 1,200,000  
Common stock, warrants and forgiveness of note receivable in relation to acquisition of American Robotics   61,811,179
Non-cash consideration for purchase of intangible assets 6,019,120
Operating leases right-of-use assets obtained in exchange of lease liabilities $ 2,928,911 $ 937,245