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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (2,089,208) $ (1,212,315)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of original issue discount 183,857
Depreciation expense 558
Unrealized loss on equity investment 4,000
Gain on extinguishment of liabilities (18,301)
Equity-based compensation 1,626
Inventory write-down 110,366
Allowance for doubtful accounts (3,927)
Changes in operating assets and liabilities    
Accounts receivable 5,054 123,119
Accounts receivable – other (48,213)
Inventories 13,868 55,175
Prepaid expenses and other 127,027 11,078
Deferred offering costs (8,328) (22,850)
Interest receivable (41,293)  
Accounts payable (300,293) 591,501
Accrued compensation 29,878
Settlement payable 108,166
Accrued creator commissions 45,155
Accrued expenses 104,694 6,877
Accrued sales tax 20,861
Deferred revenue 503,491 2,609
Net cash used in operating activities (1,362,954) (332,814)
Cash flows from investing activities    
Cash acquired through acquisition (Note 2) 591,686
Issuance of note receivable (900,000)
Net cash used in investing activities (308,314)
Cash flows from financing activities    
Proceeds from notes payable 1,500,000 15,000
Proceeds from issuance of Series B preferred stock - net of issuance costs 90,325
Proceeds from issuance of Series C preferred stock – net of issuance costs 499,935
Net cash provided by financing activities 1,999,935 105,325
Net increase (decrease) in cash and restricted cash 328,667 (227,489)
Cash and restricted cash - beginning of period 155,647 336,340
Cash and restricted cash - end of period 484,314 108,851
Supplemental disclosure of non-cash investing and financing activities    
Acquisition through issuance of Series D and Merger Warrants 75,000,000
Accrued expenses converted to Series C and warrants 82,020
Forgiveness of note receivable and interest with note payable and interest from Acquisition 4,478,181
Accrued Series A dividends $ 56,100 $ 30,000

Source

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