v3.24.1.1.u2
Condensed Consolidated Statements of Cash Flows (Unaudited)
 3 Months Ended
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Cash flows from Operating activities    
Net loss $ (6,964,844) $ (3,615,078)
Adjustments to reconcile net loss to cash used in operating activities:    
Foreign exchange transaction gain from intercompany (26,387) 0
Depreciation 103,210 0
Stock-based compensation 1,713,654 2,144,099
Convertible note payable for non-cash issuance costs 513,748 0
Share liability for non-cash consultant expense 195,000 266,200
Change in fair value of share liability 218,000 (110,285)
Change in fair value of convertible notes payable 953,710 0
Change in right-of-use lease asset 98,658 17,034
Change in deferred tax liabilities (49,771) 0
Changes in operating assets and liabilities:    
Accounts receivable (144,392) 0
Receivable from noncontrolling interest 699,510 0
Prepaid expenses and other current assets (299,130) 203,959
Other noncurrent assets (60,203) (34)
Accounts payable (54,988) (388,443)
Accrued expenses 505,480 47,404
Operating lease liability (101,700) (9,821)
Other current liabilities (270,024) 0
Net cash used in operating activities (2,970,469) (1,444,965)
Cash flows from investing activities    
Purchases of property and equipment (1,245,825) (362,056)
Net cash used in investing activities (1,245,825) (362,056)
Cash flows from financing activities    
Proceeds from issuance of common stock 0 5,000,000
Distribution to noncontrolling interest in VIE (8,429) 0
Proceeds from issuance of convertible notes payable 20,550,000 0
Payment of notes payable (263,141) 0
Payment of principal portion of finance leases (14,435) (506,390)
Net cash provided by financing activities 20,263,995 4,493,610
Net change in cash 16,047,701 2,686,589
Effect of exchange rate changes on cash (65,071) 6,561
Cash - beginning of period 7,908,181 2,389,140
Cash - end of period 23,890,811 5,082,290
Supplemental disclosures of non-cash investing and financing activities:    
Right-of-use asset obtained in exchange for lease liability 364,458 0
Purchase of property and equipment included in accounts payable 1,188,655 (337,158)
Purchase of property and equipment included in other noncurrent liabilities 1,653,000 0
Settlement of share liability $ 0 $ 75,750

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