Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES    
Net Loss $ (4,574,836) $ (10,512,157)
Adjustments to reconcile net loss to net cash:    
Amortization of property and equipment 1,688 23,754
Amortization of intangible assets 2,444,445
Impairment of goodwill and other intangibles 3,968,332
Accretion of interest expense 17,795
Loss on sale of equipment 63,385
Gain from debt settlement (49,498)
Share-based compensation 160,865 (1,452,380)
Receivables 18,222 42,527
Prepaid expenses and other current assets (300,493) 62,752
Deposits 100,000
Deferred revenue (35,049) (34,226)
Accounts payable and accrued liabilities (260,140) (239,073)
Cash flows used in operating activities (4,971,948) (5,582,139)
INVESTING ACTIVITIES    
Proceeds from sale of equipment 4,899
Development of intangible assets (19,413)
Cash flows used in investing activities (14,514)
FINANCING ACTIVITIES    
Repayment of notes payable – related party (2,519,835)
Proceeds from convertible debt – related party 2,500,000
Proceeds from warrant exercises 885,003 4,561,200
Proceeds from share issuances 7,812,663
Payments for lease liabilities (128,560)
Payments of share and debt issuance costs (106,768) (679,890)
Cash flows from financing activities 3,278,235 9,045,578
Effect of foreign exchange 70,620 61,235
Change in cash and cash equivalents during the period (1,623,093) 3,510,160
Cash and cash equivalents - Beginning of period 4,689,007 1,178,847
Cash and cash equivalents - End of period 3,065,914 4,689,007
Supplemental disclosures of cash flow    
Interest paid
Income taxes paid
Noncash investing and financing activities    
Debt converted into common stock and warrants $ 2,411,027