v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (16,234,682) $ (25,299,657)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 442,890 384,157
Stock-based compensation 923,844 6,997,986
Amortization of right-of-use asset 155,308 149,376
Bad debt expense 2,136 92,176
Realized gain on marketable securities (110,490)
Unrealized loss on marketable securities 75,204
Impairment of inventory and prepaid 2,351,947
Change in operating assets and liabilities:    
Accounts receivable 510,922 (66,550)
Inventory 462,025 (1,568,687)
Prepaid expenses and other current assets (1,430,565) (841,465)
Deposits 18,798 (18,797)
Accounts payable 516,347 420,420
Accrued expenses (473,953) 1,168,858
Contract liability (24,000)
Lease obligations - operating leases (168,935) (117,474)
Net cash used in operating activities (12,959,204) (18,723,657)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (970,557) (512,298)
Purchase of marketable securities, net (15,755,309)
Purchase of intangible assets (46,546) (57,227)
Net cash used in investing activities (16,772,412) (569,525)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of debt (21,609)
Proceeds from exercise of warrants, net of fees 100,000
Proceeds from exercise of stock options 1,506,999
Proceeds from issuance of Common Stock, net of fees and expenses 58,269,829
Net cash provided by financing activities 59,855,219
Net change in cash (29,731,616) 40,562,037
Cash, beginning of year 69,160,466 36,537,097
Cash, end of quarter 39,428,850 77,099,134
Supplemental disclosure of cash and non-cash transactions:    
Cash paid for interest 1,971
Restricted Stock issued, previously accrued 329,381
Accrued Fixed Assets 193,053  
Supplemental non-cash amounts of lease liabilities arising from obtaining right of use assets $ 120,440

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