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 $ (8,908,475) $ (4,200,541)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,012 236
Amortization of intangible assets 2,221
Amortization of debt issuance costs 2,189,008 489,252
Stock based compensation 2,169,075
Gain on sale of land (1,067,540)
Common stock for debt discount and commitment fees 1,198,309 684,438
Common stock for services 297,871
Changes in operating assets and liabilities:    
Prepaid asset and other current assets 684,693 (206,949)
Due from affiliates 139,660 (1,660,845)
Accounts payable and accrued expenses 693,604 346,016
Net cash used in operating activities (2,600,562) (4,548,393)
Cash flows from investing activities:    
Assets held for sale (3,535)
Cash used in asset acquisitions (153,593)
Intangible assets (293,593) (22,210)
Purchase of property and equipment (544,199) (3,805)
Proceeds from sale of land 403,738
Joint venture activity 231,562
Land acquired from JV (331,562)
Additions to project development costs (30,900) (9,607)
Equity-based investments (42,662)
Net cash used in investing activities (718,547) (81,819)
Cash flows from financing activities:    
Debt issuance costs paid (2,525,763) (441,825)
Proceeds from short-term notes payable, net of debt issuance costs 6,928,277 6,615,169
Repayment of short-term note payable (1,552,742) (2,500,000)
Issuance of common stock from EP 750,719
Issuance of common stock – prefunded warrants 11,584
Contributions 959,384
Net cash provided by financing activities 3,612,075 4,632,728
Net change in cash 292,966 2,516
Cash – beginning of period 3,236 720
Cash – end of period 296,202 3,236
Supplemental disclosure of non-cash operating activities:    
Prepaid interest held back from proceeds from short-term notes payable 1,000,000 675,000
Forgiveness of due from affiliate 2,279,156
Conversion of notes payable 2,675,955
Intangible assets acquired in asset acquisition 103,800
Assets and liabilities acquired in asset acquisition:    
Intangible assets 620,930
Accounts payable and accrued expenses $ 32,337

Source

10-K PDF
XBRL