v3.24.2.u1
Condensed Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 3,845,730 $ (4,722,430)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Bad debts expense 20,760 185,485
Depreciation and amortization 366,784 155,416
Non-cash amortization of right-of-use asset and liability 405,383 9,556
Amortization of stock options 2,207,875 258,677
Amortization of stock warrants issued as a debt discount 777,704 1,054,822
Loss on early extinguishment of debt 696,502 0
Decrease (increase) in current assets:    
Accounts receivable (3,639,538) (721,135)
Prepaid expenses 393,083 17,849
Inventory (6,783,244) 1,053,910
Security deposits (1,011,340) (34,765)
Increase (decrease) in current liabilities:    
Accounts payable 928,390 (76,257)
Income tax payable 257,918 0
Accrued interest (431,049) 265,338
Accrued expenses 729,860 7,045
Net cash provided by (used in) operating activities (939,534) (2,421,260)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (1,863,794) (362,180)
Cash paid for construction in progress (364,256) 0
Net cash used in investing activities (2,228,050) (362,180)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from common stock offerings, net of offering costs of $859,024 15,712,976 0
Proceeds from the exercise of warrants and options 373,855 0
Proceeds received from notes payable, related parties 0 2,400,000
Proceeds received from notes payable 0 400,000
Repayments of borrowings (956,249) 0
Net cash provided by financing activities 15,130,582 2,800,000
NET CHANGE IN CASH AND CASH EQUIVALENTS 11,962,998 16,560
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 2,410,037 276,464
CASH AND CASH EQUIVALENTS AT END OF PERIOD 14,373,035 293,024
SUPPLEMENTAL INFORMATION:    
Interest paid 770,428 25,685
Interest received 4,130 0
Income taxes paid 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Non-cash exercise of warrants 5,299,113 0
Repayment of interest (98,750) 0
Repayments of borrowings (5,200,363) 0
Reclassification of construction in progress to property and equipment 1,651,305 0
Value of debt discounts attributable to warrants 0 2,322,478
Officers and Directors [Member]    
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Common stock issued for services $ 295,648 $ 125,229