v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss $ (5,713,276) $ (2,305,549) $ (8,219,220) $ (4,567,085)  
Adjustments to reconcile net loss to net cash (used in) operating activities:          
Depreciation expense     329,272 206,654 $ 292,102
Amortization of intangible asset     18,750 18,750  
Amortization of convertible debt, net     1,425,365  
Amortization of right to use     58,284 24,948  
Stock based compensation in relation to restricted stock awards     1,343,566 268,500  
Fair value of options granted     620,199 1,053,064  
Stock issued for services     14,200  
Share of loss from equity method     3,454,436  
Gain on debt extinguishment (20,832)  
Change in operating assets and liabilities:          
Accounts receivable     (339,258) (132,808)  
Inventory     (118,594) (621,487)  
Unbilled revenue     (19,937) (22,353)  
VAT receivable     136,299 (446,657)  
Prepaid expense     37,170 (45,575)  
Other current assets     48,539 (728)  
Accounts payable and accrued liabilities     23,700 (168,557)  
Lease liabilities     (61,213) (24,898)  
Provision for income taxes     (41,313) 37,603  
Contract liabilities     (1,756) 4,252  
Net cash used in operating activities     (2,731,076) (2,997,644)  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchase of property and equipment     (471,118) (95,598)  
Purchase of equity method investment     (7,000,000)  
Net cash used in investing activities     (7,471,118) (95,598)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from convertible note payable     350,000  
Proceeds from (repayments) to note payable, related party, net     (19,616) (34,787)  
Proceeds from exercise of options     5,000  
Proceeds from common stock offering     5,605,038 12,661,984  
Proceeds from warrant offering     1,987,589  
Repayments to note payable Coronavirus loans     (51,104) (11,189)  
Proceeds from exercise of warrant     4,629,540  
Repayment of note payable     (121,848)  
Net cash provided by financing activities     5,534,318 19,466,289  
Effect of exchange rate on cash     (130,494) 36,835  
Net increase (decrease) in cash     (4,798,371) 16,409,882  
Cash beginning of period     17,267,978 728,762 728,762
Cash end of period $ 12,469,607 $ 17,138,644 12,469,607 17,138,644 $ 17,267,978
Cash paid during the period for          
Interest     10,137 144,187  
Income tax     38,555  
Non-cash adjustments during the period for          
Beneficial conversion feature on convertible debt     340,420  
Recognition of operating lease liability     904,744  
Conversion of convertible debt into common shares     $ 1,644,267  

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