v3.23.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities    
Net loss $ (3,488,786) $ (1,166,575)
Adjustments to reconcile net loss:    
Depreciation 83,926 14,267
Stock based compensation 682,980
Change of right-of-use asset 43,033
Loss on disposal of assets 31,582
Inventories (521,960) (16,831)
Prepaid expenses and other current assets 360,927 55,206
Accounts payable (19,910) (7,891)
Accrued liabilities 18,777 6,396
Contract liabilities   customer deposits 500
Operating lease liabilities (42,356)
Net cash used in operating activities (2,882,869) (1,083,846)
Cash Flows From Investing Activities    
Purchase of property and equipment (224,088) (188,666)
Net cash used in investing activities (224,088) (188,666)
Cash Flows From Financing Activities    
Net proceeds from issuance of common stock 6,996,015
Deferred offering costs (66,463) (141,629)
Capital contributions from parent 500,000
Equipment financing (7,666)
Repayments of advances from parent (409,505) (750,596)
Advances from parent 343,697 119,843
Net cash provided by (used in) financing activities 6,856,078 (272,382)
Net change in cash and cash equivalents 3,749,121 (1,544,894)
Cash and cash equivalents at beginning of period 12,767,199 1,803,285
Cash and cash equivalents at end of period 16,516,320 258,391
Supplemental Cash Flow Information    
Cash paid for income taxes
Cash paid for interest 1,784 858
Non Cash Investing and Financing Activities    
Finance leases $ 92,405

Source