General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Statements of Cash Flows

v3.23.4
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities        
Net loss $ (1,513,374) $ (2,295,139) $ (3,059,477) $ (3,784,562)
Adjustments to reconcile net loss to net cash used in operating activities:        
Bad debts expense     2,062
Depreciation and amortization expense 25,578 34,540 42,287 40,321
Loss on disposal of fixed assets 9,041 9,041 71,487
Gain on early extinguishment of lease (4,397) (20,148) (20,148)
Gain on forgiveness of PPP loan     (121,372)
Gain on early extinguishment of debt (121,372)    
Amortization of debt discounts 26,233 412,673 412,673 456,656
Stock-based compensation 121,052 123,440 339,133 133,755
Amortization of options issued for services     164,620 1,000,834
Series A preferred stock issued for services 90,000    
Common stock issued for services 173,850 339,133    
Stock options issued for services 121,052 123,440    
Decrease (increase) in assets:        
Accounts receivable (133) (11,216) 7,525 (16,306)
Inventory (258,583) (120,625) 144,442 68,557
Other current assets 20,219 109,578 112,893 (187,119)
Other assets (33,666) (33,327) (32,733)
Right-of-use assets 34,391 84,667 118,347 195,029
Security deposits (194,020) (193,820) (1,190,874)
Increase (decrease) in liabilities:        
Accounts payable 17,774 259,049 317,921 (254,408)
Accrued expenses 290,021 357,650 492,794 (92,773)
Deferred revenues (263) 5,176 (18,356) 30,164
Lease liability (31,940) (64,067) (96,253) (201,525)
Net cash used in operating activities (1,043,238) (1,124,967) (1,380,483) (3,728,702)
Cash flows from investing activities        
Proceeds received on disposal of fixed assets 6,350 6,350 5,125
Purchase of fixed assets (5,046) (43,201) (43,201) (393,126)
Net cash used in investing activities (5,046) (36,851) (36,851) (388,001)
Cash flows from financing activities        
Proceeds from convertible note payable 750,000 750,000
Repayment of convertible note payable (750,000) (750,000)
Proceeds from notes payable, related parties 62,000 99,500 99,500
Proceeds from notes payable 262,500 868,081 868,081 1,147,000
Repayment of notes payable     (505,567)
Proceeds from sale of preferred and common stock 550,000 150,000 350,000 3,577,505
Net cash provided by financing activities 874,500 1,117,581 1,317,581 4,218,938
Effect of exchange rate changes on cash 172,920 (6,820) (8,909) (11,477)
Net increase (decrease) in cash (864) (51,057) (108,662) 90,758
Cash - beginning 11,016 119,678 119,678 28,920
Cash - ending 10,152 68,621 11,016 119,678
Supplemental disclosures:        
Interest paid 40,693 79,269 117,112 48,252
Income taxes paid
Non-cash investing and financing transactions:        
Initial recognition of right-of-use assets and lease liabilities     1,962,998
Cost of preferred shares exchanged for conversion to common stock     850,000
Dividends payable 43,808 28,971 38,923 61,684
Initial recognition of right-of-use assets and lease liabilities 1,535,706    
Deposit on equipment settled with note payable 35,000    
Value of debt discounts attributable to commitment shares $ 42,175    
Value of commitment shares issued as a debt discount     418,312
Value of warrants issued as a debt discount     358,017
Par value of cashless exercise of common stock options     $ 60