v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Mar. 31, 2021
Dec. 31, 2020
Sep. 30, 2020
Mar. 31, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:                
Net loss $ (12,002,075) $ (5,633,833)   $ (2,680,726) $ (1,795,153) $ (25,299,657) $ (6,006,735)  
Adjustments to reconcile net loss to net cash used in operating activities:                
Depreciation and amortization           384,157 343,932  
Stock-based compensation           6,997,986 475,175  
Amortization of debt discount           236,398  
Loss on extinguishment of debt     213,700   566,925  
Amortization of right-of-use asset           149,376 80,447  
Provision for bad debt expense           92,176 10,131  
Change in operating assets and liabilities:                
Accounts receivable           (66,550) (353,015)  
Inventory           (1,568,687) (406,239)  
Prepaid expenses and other current assets           (841,465) (1,697,474)  
Deposits           (18,797) 26,265  
Accounts payable           420,420 285,184  
Accrued expenses           1,168,858 (168,840)  
Contract liability           (24,000) 122,514  
Lease obligations - operating leases           (117,474) (57,163)  
Net cash used in operating activities           (18,723,657) (6,542,495)  
CASH FLOWS FROM INVESTING ACTIVITIES:                
Purchase of property and equipment           (512,298) (581,137)  
Purchase of intangible assets           (57,227) (11,730)  
Proceeds from merger with ABC Merger Sub, Inc.           3,060,740  
Net cash used in and provided by investing activities           (569,525) 2,467,873  
CASH FLOWS FROM FINANCING ACTIVITIES:                
Proceeds from issuance debt           1,318,000  
Repayments of debt           (21,609) (1,742,884)  
Proceeds from exercise of warrants           100,000 2,983,527  
Proceeds from exercise of stock options           1,506,999  
Proceeds from issuance of common stock, net of fees and expenses           58,269,829 28,790,995  
Net cash provided by financing activities           59,855,219 31,349,638  
Net change in cash           40,562,037 27,275,016  
Cash, beginning of period   $ 36,537,097 $ 27,916,838   $ 641,822 36,537,097 641,822 $ 641,822
Cash, end of period $ 77,099,134   $ 36,537,097 $ 27,916,838   77,099,134 27,916,838 $ 36,537,097
Supplemental disclosure of cash and non-cash transactions:                
Cash paid for interest           1,971 78,794  
Supplemental non-cash amounts of lease liabilities arising from obtaining right of use assets           120,440 1,210,680  
Conversion of debt to Common Stock           1,000,000  
Conversion of Preferred Stock to common stock           9,025,245  
Discount on debt from issuance of Common Stock and warrants           462,013  
Accrued offering costs           74,200  
Deemed dividend on modification of Series H-5 warrants           432,727  
Restricted Stock for service, vested not issued           $ 2,648,371  

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