v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Provided by Operating Activities:    
Net (loss) income $ (7,613,993) $ 218,525
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Loss on disposal of asset
Common stock payable for services
Contributed services 38,778 84,317
Stock based compensation 962,776 257,305
Depreciation 7,942 (0)
Amortization of intangible assets 718,856
Amortization of debt discount 62,716
Loss on fair value of Share Adjustment 5,895,771
Changes in operating assets and liabilities:    
Accounts receivable, related party 109 (827,738)
Accounts receivable 292,788
Prepaid expenses and other assets (392,659) 306,616
Inventory (4,869,563)
Operating lease right of use asset 39,759
Accounts payable 4,951,190 (8,282)
Other payables and accrued liabilities, related party (1,278) (91,633)
Other payables and accrued liabilities (1,759) (541,276)
Operating lease liability (42,438)
Net Cash Provided By (Used In) Operating Activities 48,995 (602,166)
Cash Flows From Investing Activities:    
Cash acquired in Acquisition of Business, net of cash paid 134,379
Purchases of intangibles (183,887)
Net Cash Used In Investing Activities (49,508)
Cash Flows From Financing Activities:    
Advances / loans from related parties 800,000 472,500
Proceeds from notes receivable 95,640
Payments on notes payable (62,002) (53,822)
Proceeds from Line of Credit 900,000
Payment on Line of Credit (1,356,500)
Proceeds from issuance of common stock 150,494
Repurchase of common stock (65,700) (65,700)
Net Cash Provided By Financing Activities 311,438 503,472
Net Increase (Decrease) In Cash 310,925 (98,694)
Cash - Beginning of Period 1,480,371 338,863
Cash - End of Period 1,791,296 240,169
Supplemental Cash Flow Information:    
Interest paid 301,491 33,631
Income taxes
Noncash operating and financing activities:    
Non-cash issuance of stock payable 654,166
Reclass of offering costs to additional paid-in capital 135,434
Estimated fair value of shares issued in acquisitions 26,693,143
Estimated fair value of shares payable to be issued for acquisitions 39,446,695
Debt discount on notes payable issued with warrants $ 18,282

Source