v3.24.1.u1
Consolidated Statements of Cash Flows
 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Cash flows from Operating activities    
Net loss $ (16,294,126) $ (4,945,139)
Adjustments to reconcile net loss to cash used in operating activities:    
Foreign exchange transaction gain from intercompany (44,649)  
Depreciation 37,433 0
Stock-based compensation 8,743,799 1,999,313
Issuance of common stock to consultant 669,700 50,000
Change in fair value of share liability 194,540 (150,527)
Change in right-of-use lease assets 104,528 72,570
Change in deferred tax liability 16,655 0
Changes in operating assets and liabilities, net of acquisition amounts:    
Accounts receivable 237,952  
Prepaid expenses and other current assets (546,097) (671,924)
Other noncurrent assets (59,324) (146,435)
Accounts payable (224,598) 570,600
Accrued expenses 873,705 319,048
Operating lease liability (85,775) (37,399)
Tax liability current (22,787) 0
Deferred revenue 882,000 0
Other current liabilities 104,652 0
Net cash used in operating activities (5,412,392) (2,939,893)
Cash flows from investing activities    
Purchases of property and equipment (2,331,343) (4,473,164)
Cash paid for acquisition of business, net of cash acquired (121,848)  
Net cash used in investing activities (2,453,191) (4,473,164)
Cash flows from financing activities    
Proceeds from issuance of common stock 14,129,495 8,119,959
Common stock issuance costs (563,473) (1,465,461)
Proceeds from issuance of notes payable 526,282 0
Payments of notes payable (87,713)  
Payment of bank loan (609,499)  
Payment of principal portion of finance leases (9,601) (13,046)
Net cash provided by financing activities 13,385,491 6,641,452
Effect of exchange rate changes on cash (867) 207,424
Net change in cash 5,519,908 (772,005)
Cash - beginning of year 2,389,140 2,953,721
Cash - end of year 7,908,181 2,389,140
Supplemental disclosures of non-cash investing and financing activities:    
Issuance of common stock in lieu of commissions 75,570 0
Settlement of liabilities with related party 626,223 0
Share liability for non-cash issuance costs 0 124,782
Seller financed portion of investment in PET Labs Pharmaceuticals 1,500,000 0
Purchase of property and equipment included in accounts payable 453,985 745,628
Right-of-use assets obtained in exchange for lease liability $ 70,607 $ 0

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