APPLIED ENERGETICS INC
For the period ended Dec 31, 2023. Filed Mar 26, 2024.
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FY2023 · Filed Mar 26, 2024
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Item 8. Consolidated Statements of Cash Flows
| FOR THE YEARS ENDED DECEMBER 31, | ||||
|---|---|---|---|---|
| 2023 · 2022 | ||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net loss | $(7,350,435) | $(5,771,642) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Non-cash stock-based compensation expense | 3,493,397 | 1,776,140 | ||
| Amortization of ROU assets | 143,602 | 112,613 | ||
| Depreciation and amortization | 127,639 | 73,519 | ||
| Loss on disposal of equipment | - | 14,540 | ||
| Amortization of future compensation payable | - | 416,666 | ||
| Amortization of prepaid assets | 202,354 | 221,352 | ||
| Changes in assets and liabilities: | ||||
| Accounts receivable | (214,643) | (353,149) | ||
| Prepaids and deposits | (257,918) | (270,735) | ||
| ROU liabilities | (112,050) | (76,228) | ||
| Deferred Revenue | 308,908 | - | ||
| Accounts payable | 195,988 | (78,412) | ||
| Accrued expenses and compensation | 12,505 | 5,499 | ||
| Net cash used in operating activities | (3,450,653) | (3,929,837) | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Purchase of equipment | (369,267) | (74,184) | ||
| Net cash used by investing activities | (369,267) | (74,184) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||
| Proceeds from sale of common stock | - | 6,586,193 | ||
| Repayment on note payable | (555,541) | (798,988) | ||
| Proceeds from note payable | 155,541 | 175,435 | ||
| Tax withholdings related to net share settlement of RSU’s | (136,671) | - | ||
| Proceeds from the exercise of stock options and warrants | 35,809 | 19,069 | ||
| Net cash (used in) provided by financing activities | (500,862) | 5,981,709 | ||
| Net (decrease) increase in cash and cash equivalents | (4,320,782) | 1,977,688 | ||
| Cash and cash equivalents, beginning of year | 5,640,308 | 3,662,620 | ||
| Cash and cash equivalents, end of year | $1,319,526 | $5,640,308 | ||
| Supplemental Cash Flow Information | ||||
| Cash paid for interest | $5,726 | $3,727 | ||
| Cash paid for taxes | $ | - | $ | - |
| Schedule of Non-Cash Information | ||||
| Insurance financing for prepaid insurance | $155,541 | $175,435 | ||
| Implementation of ASC 842 | $766,281 | $ | - | |
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