v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flow from operating activities:    
Net loss $ (8,612,345) $ (15,319,687)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,575,165 13,202,878
Loss on disposal of tooling 0 140,000
Write off of intangible assets 6,427 0
Amortization of right of use assets 158,672 19,946
Depreciation and amortization 112,980 15,053
Changes in operating assets and liabilities:    
Accounts receivable (82,397) (21,455)
Inventory (1,519,431) (172,890)
Inventory deposits 393,741 (394,451)
Prepaid assets and other current assets (656,709) 67,582
Other assets (9,453) (657,449)
Accounts payable 35,097 85,164
Accrued liabilities 483,830 0
Right of use liabilities - operating leases (116,716) (36,135)
Customer deposits (1,216,883) 74,250
Net cash provided by (used in) operating activities (9,448,022) (2,997,194)
Cash flow from investing activities:    
Purchase of property and equipment (223,632) (107,701)
Purchase of intangible assets 0 (20,501)
Net cash used by investing activities (223,632) (128,202)
Cash flow from financing activities:    
Repayment of notes payable (4,764) (1,795)
Proceeds from WeFunder offering, net of offering costs of $53,500 0 2,205,440
Proceeds from issuance of Series A preferred stock, net of $205,470 of issuance costs 0 2,464,508
Proceeds from issuance of Series B preferred stock, net of $890,026 of issuance costs 0 4,276,693
Proceeds from issuance of common stock from public offering, net of issuance costs of $1,910,803 18,089,184 0
Proceeds from exercise of stock options 15,000 0
Net cash provided by financing activities 18,099,420 8,944,846
NET CHANGE IN CASH 8,427,766 5,819,449
CASH AT BEGINNING OF PERIOD 5,572,199 536,082
CASH AT END OF PERIOD 13,999,965 6,355,531
Supplemental disclosure of cash flow information:    
Cash paid for interest 3,060 14,946
Cash paid for income taxes 0 0
Non-cash transactions    
Conversion of SAFE liability to Series A preferred stock $ 0 $ 2,000,000

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