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 ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flow from operating activities:    
Net loss $ (30,327,663) $ (18,538,808)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on extinguishment of convertible notes 22,296,988 0
Gain on change in fair value of financial liabilities (5,792,788) 0
Stock-based compensation 1,682,827 2,199,869
Loss on write down of inventory and inventory deposits 165,324 606,963
Loss on lease terminations 0 395,848
(Gain) loss on sale/write off of property & equipment (6,423) 79,712
Bad debt expense 51,198 0
Write off of intangible assets 0 6,427
Non-cash interest expense 3,385,204 0
Amortization of right-of-use assets 181,677 257,647
Depreciation and amortization 106,625 306,756
Changes in operating assets and liabilities:    
Accounts receivable 580,155 (1,093,909)
Inventory 786,821 (1,971,245)
Inventory deposits (1,847,714) 1,787,673
Prepaid assets and other current assets (954,117) (225,547)
Other assets 0 (9,453)
Accounts payable (381,252) (96,224)
Accrued liabilities (626,788) 550,889
Right-of-use liabilities - operating leases (174,365) (199,966)
Customer deposits 295,739 (2,275,386)
Net cash provided by (used in) operating activities (10,578,552) (18,218,754)
Cash flow from investing activities:    
Purchase of property and equipment (393,291) (517,205)
Proceeds from sale of vehicles 89,000 0
Net cash used by investing activities (304,291) (517,205)
Cash flow from financing activities:    
Repayment of notes payable (72,859) (8,424)
Proceeds from issuance of common stock from public offering, net if issuance costs of $501,300 3,998,700 0
Proceeds from issuance of convertible notes and warrants, net of issuance costs of $586,968 3,913,032 0
Proceeds from issuance of common stock from public offering, net of issuance costs of $1,910,803 0 18,089,184
Proceeds from exercise of stock options 25,000 40,000
Net cash provided by financing activities 7,863,873 18,120,760
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (3,018,970) (615,199)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 11,537,842 5,572,199
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 8,518,872 4,957,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 4,648 6,020
Cash paid for income taxes 0 0
Non-cash transactions    
Recognition of initial right of use asset - operating lease 0 143,540
Acquisition of property and equipment with note payable $ 96,024 $ 0