Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (12,443,000) $ (5,528,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 399,000 317,000
Change in provision for doubtful accounts (54,000) 0
Amortization of intangible assets 1,398,000 12,500
Amortization of right-of-use assets - operating leases 244,000 98,000
Amortization of right-of-use assets - finance leases 13,000 0
Write-off of right of use asset 111,000 0
Equity in net loss of affiliate 0 1,440,000
Stock-based compensation 1,158,000 2,025,000
Impairment loss 9,924,000 0
Gain on sale or disposal of property and equipment (1,000) 0
Accounts receivable (513,000) (205,000)
Inventories 571,000 (780,000)
Unbilled revenue (17,000) (34,000)
Prepaid expense 374,000 (302,000)
Notes receivable 16,000 0
VAT receivable 9,000 0
Accounts payable and accrued expenses (1,349,000) (234,000)
Operating lease liabilities (273,000) (87,000)
Income taxes payable (46,000) 67,000
Contract liabilities 100,000 22,000
Liabilities from discontinued operations 0 (112,000)
Net cash used in operating activities (379,000) (3,300,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (124,000) (103,000)
Capital contributions to equity method investee 0 (1,000,000)
Proceeds from sale or disposal of property and equipment 1,000 0
Net cash used in investing activities (981,000) (1,103,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of note payable, related party, net 0 (9,000)
Proceeds from common stock offering 0 6,000,000
Proceeds from exercise of warrants 85,000 184,000
Capital contribution of non-controlling interest 122,000 0
Payments on finance lease liabilities (13,000) 0
Repayments of notes payable (228,000) (22,000)
Net cash (used in) provided by financing activities (34,000) 6,153,000
Effect of exchange rate on cash (36,000) (35,000)
Net decrease in cash (1,430,000) 1,715,000
Cash beginning of period 26,307,000 18,891,000
Cash end of period 24,877,000 20,606,000
SUPPLEMENTAL CASH FLOW INFORMATION    
Interest 371,000 173,000
Income taxes 74,000 0
Outfitter Satellite, Inc. [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash acquired in acquisition of Outfitter Satellite subsidiary 236,000 0
Cash paid in acquisition of Outfitter Satellite subsidiary $ (1,094,000) $ 0