Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.22.4
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash $ 10,986,592 $ 5,572,199
Restricted cash 551,250 0
Accounts receivable, net of allowance for doubtful accounts of $62,451 and $0 at December 31, 2022 and 2021, respectively 864,957 25,585
Inventory 5,645,883 2,209,015
Inventory deposits 427,662 1,981,397
Prepaid expenses and other current assets 1,850,666 1,092,860
Total current assets 20,327,010 10,881,057
Long term assets:    
Property and equipment, net 601,766 809,734
Intangible assets, net 5,813 18,053
Other long-term assets 285,037 732,810
Right-of-use asset - operating lease 1,505,987 2,182,612
Total assets 22,725,613 14,624,265
Current liabilities:    
Accounts payable 1,036,628 1,454,103
Accrued liabilities 2,045,239 771,631
Accrued purchase commitments 28,600 1,506,976
Current portion of notes payable 18,670 17,201
Convertible Notes, net of issuance costs 17,353,748 0
Right-of-use operating lease liability, short term 391,117 456,207
Customer deposits 23,471 2,277,607
Total current liabilities 20,897,472 6,483,725
Notes payable, net of discount and current portion 50,116 68,785
Right-of-use operating lease liability, long-term 1,143,011 1,767,506
Total liabilities 22,090,599 8,320,017
COMMITMENTS AND CONTINGENCIES
Stockholders' equity:    
Preferred stock: $0.00001 par value, 5,000,000 shares authorized, no shares outstanding 0 0
Common stock: $0.00001 par value, 100,000,000 shares authorized, 24,426,260 shares issued and outstanding as of December 31, 2022, 17,309,187 shares issued and outstanding as of December 31, 2021 198 128
Additional paid-in capital 76,369,742 47,803,643
Accumulated deficit (75,734,927) (41,499,522)
Total stockholders’ equity 635,013 6,304,249
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 22,725,613 $ 14,624,265