v3.25.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash Flows From Operating Activities    
Net loss $ (22,576,017) $ (3,595,361)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,099,277 150,518
Non-cash operating lease expense 1,128,953 988,506
Net gains on sale of equipment (8,388)
Expenses paid using digital assets 461
Change in fair value of warrant liabilities (100)
Unrealized loss on investment in marketable securities 536,116
Gains on transactions denominated in foreign currency (1,168,493)
Depreciation and amortization 1,585,535 1,499,980
Impairment of goodwill 9,567,000
Impairment of software licenses 357,826  
Deferred tax benefit (425,417)
Changes in operating assets and liabilities:    
Accounts receivable (180,489) (147,587)
Interest receivable 82,693 (114,826)
Prepaid expenses and other current assets 27,228 (7,312)
Deposit (3,701,598)
Accounts payable 737,594 (39,285)
Accrued expenses and other current liabilities 429,272 (1,099,056)
Operating lease liability (1,522,993) (1,267,143)
Deferred revenue 552,634 (797,715)
Total Adjustments 12,806,636 (4,543,445)
Net Cash Used In Operating Activities (9,769,381) (8,138,806)
Cash Flows From Investing Activities    
Land deposit (2,223,810)
Proceeds from maturing of short-term investments 127,733,566 80,000,000
Purchases of short-term investments (79,612,566) (66,500,000)
Payment for investment in marketable securities (5,011,365)
Proceeds from sale of marketable securities 781,025
Loans receivable (19,062,401)
Proceeds from repayment of short-term loan 1,340,000
Proceeds from sale of equipment 106,914
Acquisition of Beijing Lianzhong Zhihe Technology Co., net of cash acquired (6,431,893)
Purchases of intangible assets (53,020) (668,880)
Purchases of property and equipment (82,951) (378,060)
Net Cash Provided By Investing Activities 23,808,478 6,128,081
Cash Flows From Financing Activities    
Repurchases of common stock (422) (2,083,091)
Proceeds from issuance of common stock in securities purchase agreement 6,599,960
Issuance costs associated with common stock issuance (247,732)
Proceeds from issuance of common stock in share purchase agreement 2,000,000
Return of proceeds upon cancellation of common stock previously issued pursuant to a share purchase agreement (2,000,000)
Proceeds from short-term loans 26,038,919 9,230,168
Repayment of short-term loans (8,461,338)
Net Cash Provided By Financing Activities 23,929,387 7,147,077
Effect of Exchange Rate Changes on Cash (46,265) 16,789
Net Increase In Cash, Cash Equivalents, And Restricted Cash 37,922,219 5,153,141
Cash, cash equivalents, and restricted cash - Beginning of Year 21,320,583 16,167,442
Cash, cash equivalents, and restricted cash - End of Year 59,242,802 21,320,583
Cash and cash equivalents and restricted cash consisted of the following:    
Cash 19,235,190 16,320,583
Money market funds 40,007,612
Restricted cash 5,000,000
Total cash and cash equivalents and restricted cash 59,242,802 21,320,583
Non-Cash Investing and Financing Activities:    
ROU asset for lease liability 85,095 289,886
Shares withheld for accrued employee payroll tax liability 179,342
Property and equipment received as deferred revenue $ 793,035

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