v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (3,582,571) $ (5,681,353)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 323,747 208,882
Operating lease expense 220,493 205,275
Interest Expense 43,555 155,015
Interest and other income, net (415,465) (140,928)
Deferred income tax benefit (301,036)
Stock compensation expense 3,144,315 2,379,212
Provision for / (Reversal of) credit loss reserve, net 230,616 (422,711)
Provision for slow moving inventory (6,248)
Changes in operating assets and liabilities:    
Accounts receivable, net (245,111) 1,275,750
Inventory, net 4,159 (5,082,673)
Deferred revenue 677,421 823,947
Prepaids and other assets (2,066,322) (1,003,604)
Accounts payable (704,764) 1,329,028
Income taxes payable, net 323,014
Accrued expenses & other liabilities 256,441 48,331
Operating lease payment (214,180) (197,545)
Net cash used in operating activities (2,311,936) (6,103,374)
Cash flows from investing activities:    
Purchase of property, plant and equipment (54,189) (872,804)
Net cash used in investing activities (54,189) (872,804)
Cash flows from financing activities:    
Proceeds from bank overdraft facility (net) (286,801) (312,495)
Proceeds from Private Investment in Public Equity, net of transaction costs 18,446,498
Proceeds from issuance of convertible notes to principal shareholder 28,000,000
Repayment of convertible notes to principal shareholder, including interest (4,212,637)
Repayment of convertible notes to other investors, including interest (1,068,849)
Net cash provided by financing activities 18,159,697 22,406,019
Net change in cash 15,793,572 15,429,841
Effect of exchange rate on cash (1,390,912) 25,412
Cash and cash equivalents at the beginning of the year 9,603,020 6,623,535
Cash and cash equivalents at end of the year 24,005,680 22,078,788
Supplemental disclosure of cash flow information:    
Transaction Costs relating to Private Investment in Public Equity 175,000
Conversion of convertible notes into common stock, including interest 30,645,360
Transfer of systems from inventory to property, plant and equipment $ 994,430