Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (3,672,627) $ (872,576)  
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Depreciation and amortization 27,453 50,269  
Amortization of right-of-use assets 54,179  
Accounts receivable reserves and allowances 8,490 7,329  
Inventory reserves 29,615 25,960  
Common stock issued for professional services 101,750  
Stock-based compensation 1,262,123 7,866  
Gain on change in fair value of warrant liabilities (2,122,900)  
Changes in operating assets and liabilities:      
Accounts receivable (254,968) 441,369  
Inventory and equipment held for lease 107,588 (28,430)  
Prepaid expenses and other assets 1,459,135 4,136  
Accounts payable (15,217) 175,922  
Accrued expenses and other current liabilities 1,122,686 618,597  
Lease liability (60,710)  
Deferred revenue (127,701) (22,728)  
Net cash (used in) provided by operating activities (2,081,104) 407,714  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (62,265) (1,729)  
Payments for patents and licenses (6,737) (93,732)  
Net cash used in investing activities (69,002) (95,461)  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from the issuance of notes payable 290,198  
Proceeds from warrant exercises 244,581  
Principal payments on notes payable (123,133) (578,026)  
Net cash provided by (used in) financing activities 121,448 (287,828)  
Net change in cash and cash equivalents (2,028,658) 24,425  
CASH AND CASH EQUIVALENTS - beginning of period 23,976,570 128,696 $ 153,121
CASH AND CASH EQUIVALENTS - end of period 21,947,912 153,121 $ 23,976,570
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid for: Interest 831 19,473  
Cash paid for: Taxes 100 500  
NONCASH FINANCING AND INVESTING ACTIVITIES:      
Net transfers to inventory from equipment held for lease $ 5,439