v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (14,136,350) $ (9,876,084)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation 180,709 123,071
Amortization of debt discount and issuance cost 3,303,253 539,526
Amortization of intangible assets 1,061,869 1,052,211
Amortization of right of use asset 221,974 237,561
Retirement of assets 3,278
Change in fair value of government grant liability (32,276) 74,393
Stock-based compensation 1,572,645 269,553
Changes in operating assets and liabilities:    
Accounts receivable 3,309,411 1,148,846
Inventory (727,163) (1,174,882)
Other current assets (3,047,595) (63,087)
Deposits and other assets (31,515) 3,282
Accounts payable (1,160,757) 396,573
Accrued expenses and other current liabilities 805,588 (372,569)
Deferred revenue 2,309,056 183,103
Operating lease liability (288,113) (82,799)
Other liabilities 82,500
Net cash flows used in operating activities (6,659,264) (7,455,524)
CASH FLOWS FROM INVESTING ACTIVITIES    
Patent costs (24,152) (8,689)
Purchase of equipment (170,867) (1,188,086)
Purchase of software intangible (15,638)
Net cash flows used in investing activities (195,019) (1,212,413)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options and warrants 983,895 2,217
Proceeds from convertible notes payable, net of issuance costs 923,358
Proceeds from government grant 364,683
Proceeds from sale of common stock, net of issuance costs 3,859,394
Proceeds from sale of redeemable preferred stock in Ondas Networks, net of issuance costs 4,375,035
Payments on government grant liability (7,000)
Net cash flows provided by financing activities 2,264,936 8,236,646
Decrease in cash, cash equivalents, and restricted cash (4,589,347) (431,291)
Cash, cash equivalents, and restricted cash beginning of period 29,999,321 15,022,000
Cash, cash equivalents, and restricted cash end of period 25,409,974 14,590,709
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid for interest 4,829 7,300
Cash paid for income taxes
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING ACTIVITIES:    
Preferred dividends attributable to redeemable noncontrolling interest 390,000 334,138
Accretion of redeemable preferred stock in Ondas Networks 817,127 638,646
Debt exchanged for common stock 21,939,514
Warrants in relation to sale of redeemable preferred stock in Ondas Networks 1,471,194
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 345,403
Transfer of equipment into inventory 398,046
Operating leases right-of-use assets obtained in exchange of lease liabilities $ 340,369

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