v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flow from operating activities:    
Net loss $ (18,538,808) $ (19,455,285)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,199,869 13,406,594
Loss on write down of inventory and inventory deposits 606,963 0
Loss on lease terminations 395,848 0
Loss on write off of property & equipment 79,712 145,000
Write off of intangible assets 6,427 0
Noncash interest expense 0 23,468
Amortization of right of use assets 257,647 131,019
Depreciation and amortization 306,756 63,855
Changes in operating assets and liabilities:    
Accounts receivable (1,093,909) (208,469)
Inventory (1,971,245) (860,554)
Inventory deposits 1,787,673 (1,671,830)
Prepaid assets and other current assets (225,547) (180,613)
Other assets (9,453) (602,253)
Accounts payable (96,224) 573,632
Accrued liabilities 550,889 0
Right of use liabilities - operating leases (199,966) (121,933)
Customer deposits (2,275,386) 480,353
Net cash provided by (used in) operating activities (18,218,754) (8,277,016)
Cash flow from investing activities:    
Purchase of property and equipment (517,205) (483,039)
Purchase of intangible assets (38,754)
Net cash used by investing activities (517,205) (521,793)
Cash flow from financing activities:    
Repayment of notes payable (8,424) (5,457)
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 9,615,331
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 40,000 0
Net cash provided by financing activities 18,120,760 14,279,822
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (615,199) 5,481,013
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 5,572,199 536,082
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 4,957,000 6,017,095
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,020 0
Cash paid for income taxes 0 0
Non-cash transactions    
Recognition of initial right of use asset - operating lease 143,540 1,066,511
Acquisition of property and equipment with note payable 0 30,942
Conversion of SAFE liability to Series A preferred stock $ 0 $ 2,000,000

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