Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flow from operating activities:    
Net loss $ (26,437,991) $ (25,345,840)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,642,139 14,256,318
Loss on write down of inventory and inventory deposits 1,650,838 0
Loss on lease terminations 395,138 0
Loss on write off of property & equipment 250,369 145,000
Write off of intangible assets 6,427 0
Non-cash interest expense 614,366 58,312
Amortization of right of use assets 342,112 252,951
Depreciation and amortization 574,117 134,557
Changes in operating assets and liabilities:    
Accounts receivable (1,541,983) (35,663)
Inventory (1,463,778) (2,328,686)
Inventory deposits 1,061,846 (2,940,314)
Prepaid assets and other current assets 289,387 (238,525)
Other assets (29,120) (698,627)
Accounts payable (978,962) 1,249,314
Accrued liabilities 293,626 120,322
Right of use liabilities - operating leases (269,836) (194,175)
Customer deposits (2,218,856) 2,278,240
Net cash provided by (used in) operating activities (24,820,161) (13,286,816)
Cash flow from investing activities:    
Purchase of property and equipment (620,290) (694,553)
Purchase of intangible assets 0 (13,125)
Net cash used by investing activities (620,290) (707,678)
Cash flow from financing activities:    
Repayment of notes payable (12,768) (8,488)
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 $1,910,816 18,089,184 0
Proceeds from issuance of convertible notes, net of issuance costs of $2,312,895 15,122,345 0
Proceeds from issuance of warrants to convertible note holders, net of issuance costs of $1,003,513 7,177,976 0
Proceeds from issuance of promissory notes, net of issuance costs of $96,000 0 1,104,000
Proceeds from exercise of stock options 40,000 0
Proceeds from issuance of common stock with promissory notes, net of $65,000 of issuance costs 0 735,000
Net cash provided by financing activities 40,416,737 16,115,791
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 14,976,286 2,121,297
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 20,548,485 2,657,379
Supplemental disclosure of cash flow information:    
Cash paid for interest 4,401 9,209
Cash paid for income taxes 0 0
Non-cash transactions:    
Recognition of initial right of use asset - operating lease 1,128,609 1,707,466
Acquisition of property and equipment with note payable 0 30,942
Conversion of SAFE liability to Series A preferred stock $ 0 $ 2,000,000