v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows From Operating Activities    
Net loss $ (9,741,024) $ (2,509,759)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 903,639 136,605
Non-cash operating lease expense 836,296 723,594
Net gains on sale of equipment (8,388)
Expenses paid using digital assets 461
Change in fair value of warrant liabilities (100)  
Depreciation and amortization 1,183,692 1,030,191
Changes in operating assets and liabilities:    
Accounts receivable 248,602 62,066
Insurance recovery receivable (3,700,000)
Interest receivable (1,640,139) (1,381,179)
Prepaid expenses and other current assets (16,157) (11,116)
Deposit returns (1,598)
Accounts payable (130,032) 152,701
Accrued expenses and other current liabilities (365,104) (1,339,109)
Operating lease liability (1,138,342) (909,426)
Deferred revenue 309,491 (543,786)
Total Adjustments (3,508,154) (2,088,984)
Net Cash Used In Operating Activities (13,249,178) (4,598,743)
Cash Flows From Investing Activities    
Issuance of short-term loan (1,340,149)
Proceeds from repayment of short-term loan 1,340,149
Proceeds from maturing of short-term investments 62,655,361 30,000,000
Purchases of short-term investments (72,894,683) (19,950,000)
Loan to affiliate (3,500,000)
Loans receivable (14,429,317)
Proceeds from sale of equipment 106,914
Purchases of intangible assets (49,950) (618,930)
Purchases of property and equipment (48,520) (119,525)
Net Cash (Used In) Provided By Investing Activities (24,767,109) 5,918,459
Cash Flows From Financing Activities    
Repurchases of common stock (2,051,137)
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 28,026,663
Net Cash Provided By (Used In) Financing Activities 28,026,663 (2,051,137)
Effect of Exchange Rate Changes on Cash (338,724) (31)
Net Decrease In Cash, Cash Equivalents, And Restricted Cash (10,328,348) (731,452)
Cash, cash equivalents, and restricted cash - Beginning of Period 21,320,583 16,167,442
Cash, cash equivalents, and restricted cash - End of Period 10,992,235 15,435,990
Cash and cash equivalents and restricted cash consisted of the following:    
Cash and cash equivalents 10,992,235 10,435,990
Restricted cash 5,000,000
Total cash and cash equivalents and restricted cash 10,992,235 15,435,990
Non-Cash Investing and Financing Activities:    
ROU asset for lease liability 85,095 289,886
Property and equipment received as deferred revenue $ 793,035

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