v3.23.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Cash flows from operating activities:              
Net loss $ (884,943) $ (1,144,489) $ (1,525,837) $ (393,792) $ (3,048,961) $ (2,366,251)  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation 144,701   90,351   396,388 555,224 $ 658,371
Gain on disposal of fixed asset         (8,920)    
PPP loan forgiveness     (385,900)  
Changes in assets and liabilities:              
Inventories         390 (21,981)  
Other assets         (564,775) (401,011)  
Accounts payable and accrued expenses         (3,118) 685,899  
Due to related party         (142,106) (1,383,213)  
Other payables         59,785 (15,380)  
Net cash used in operating activities         (3,311,317) (3,332,613)  
Cash flows from investing activities:              
Purchases of property and equipment         (1,339,132) (457,428)  
Net cash used in investing activities         (1,339,132) (457,428)  
Cash flows from financing activities:              
Advance from line of credit         500,000  
Proceeds from notes payable         812,000  
Proceeds from borrowings         140,000  
Repayments on bank notes payables         (645,280) (138,010)  
Proceeds from sale of common shares         10,345,650  
Net cash provided by financing activities         666,720 10,347,640  
Net decrease in cash         (3,983,729) 6,557,599  
Cash – beginning of period   $ 6,509,121   $ 1,087,102 6,509,121 1,087,102 1,087,102
Cash – end of period $ 2,525,392   $ 7,644,701   2,525,392 7,644,701 $ 6,509,121
Supplemental disclosures of non-cash financing activities:              
Forgiveness of paycheck protection program (PPP) loan         385,900  
Cash paid during the periods for:              
Interest         186,877 61,876  
Income taxes         $ 29,068 $ 12,669  

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