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 ($)
 3 Months Ended 9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (3,928,515) $ (4,642,556)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation expense 401,947 491,072  
Amortization of intangible assets 60,584 60,584  
Amortization of debt issuance costs 54,793 40,145  
Amortization of right-of-use asset 104,137 98,826  
Loss on extinguishment of debt 334,511 0  
Reserve for credit losses 153,609 73,219  
Stock based compensation expense 270,376 185,524  
Change in fair value of Private Warrants 0 (8,250)  
Changes in operating assets and liabilities:      
Accounts receivable (381,263) (562,872)  
Inventory 179,230 7,664  
Income tax receivables and payables, net 2,029    
Prepaid expenses and other current assets 183,216 74,068  
Accounts payable 1,858,343 1,344,535  
Accrued liabilities 4,443 300,881  
Operating lease obligations (87,841) (89,610)  
Net cash used in operating activities (790,401) (2,626,771) $ (800,000)
CASH FLOWS FROM INVESTING ACTIVITIES      
Cash paid for purchase of equipment   (48,635)  
Net cash used in investing activities   (48,635)  
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of common stock, net 711,031    
Borrowings on long-term debt   2,000,000  
Repayments on long-term debt (21,665) (30,125)  
Borrowings on short-term debt 3,923,333 3,360,187  
Repayments on short-term debt (3,911,311) (2,900,947)  
Net cash provided by financing activities 701,388 2,429,115  
Net change in cash and cash equivalents (89,013) (246,291)  
Cash and cash equivalents at beginning of period 369,114 623,163 $ 623,163
Cash and cash equivalents at end of period 280,101 376,872  
SUPPLEMENTAL INFORMATION:      
Cash paid for interest 405,439 398,945  
NON-CASH INVESTING AND FINANCING ACTIVITY:      
Non-cash commercial premium finance borrowing   $ 291,339  
Common stock issued for accrued expenses 147,287    
Common stock issued for accrued expenses - related party 100,000    
Accrued fixed assets $ 16,357