March 31, 2023

March 31, 2022

Three Months Ended

March 31, 2023

March 31, 2022

OPERATING ACTIVITIES

Net Loss

$

(1,751,699

)

$

(2,207,395

)

Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:

Noncash Expenses:

Depreciation and Amortization

28,127

31,584

Stock-Based Compensation - Employees

224,850

170,976

Stock-Based Compensation - Third Party Services

(489

)

11,713

Stock-Based Compensation - Directors

7,728

21,721

Stock-Based Compensation

-

-

Change in Assets and Liabilities:

Accounts Receivable

161,171

151,170

Inventory

6,541

(72,019

)

Prepaid Assets

(129,777

)

(50,996

)

Accounts Payable

123,148

114,105

Deferred Revenue

33,370

11,421

Accrued Expenses

(12,507

)

(209,299

)

NET CASH USED IN OPERATING ACTIVITIES

(1,309,537

)

(2,027,019

)

INVESTING ACTIVITIES

Purchase of Property and Equipment

-

(83,248

)

Purchase of Intangible Assets

(47,690

)

(58,851

)

NET CASH USED IN INVESTING ACTIVITIES

(47,690

)

(142,099

)

FINANCING ACTIVITIES

NET CASH PROVIDED BY FINANCING ACTIVITIES

-

-

NET CHANGE IN CASH FOR PERIOD

(1,357,227

)

(2,169,118

)

CASH AT BEGINNING OF PERIOD

2,845,931

11,447,047

CASH AT END OF PERIOD

$

1,488,704

$

9,277,929

Supplemental Disclosures:

Noncash Investing and Financing Activities Disclosure:

Preferred Stock Dividends

$

11,748

$

14,220

Conversion of Preferred Shares to Common Shares

188,830

-

Other Noncash Operating Activities Disclosure:

Issuance of Securities for services

$

7,239

$

33,434

Disclosure of Cash Paid for:

Interest

$

3,235

$

1,319

Income Taxes

$

-

$

-