Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash $ 4,220,884 $ 10,986,592
Restricted cash 551,250 551,250
Accounts receivable, net of allowance for doubtful accounts of $43,265 and $62,451 at March 31, 2023 and December 31, 2022, respectively 710,271 864,957
Inventory 6,120,748 5,645,883
Inventory deposits 1,206,318 427,662
Prepaid expenses and other current assets 1,829,040 1,850,666
Total current assets 14,638,511 20,327,010
Long term assets:    
Property and equipment, net 897,599 601,766
Intangible assets, net 4,360 5,813
Other long-term assets 285,037 285,037
Right-of-use assets - operating leases 1,415,930 1,505,987
Total assets 17,241,437 22,725,613
Current liabilities:    
Accounts payable 557,411 1,036,628
Accrued liabilities 1,589,050 2,045,239
Accrued purchase commitments 0 28,600
Current portion of notes payable 14,200 18,670
Convertible notes, net of issuance costs 19,130,384 17,353,748
Right-of- use operating lease liabilities, short-term 401,553 391,117
Customer deposits 3,144 23,471
Total current liabilities 21,695,742 20,897,472
Notes payable, net of current portion 81,172 50,116
Right-of-use operating lease liabilities, long-term 1,046,544 1,143,011
Total liabilities 22,823,458 22,090,599
COMMITMENTS AND CONTINGENCIES
Stockholders' (deficit) 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, 24,615,119 shares issued and outstanding at March 31, 2023 and 24,426,260 shares issued and outstanding as of December 31, 2022 200 198
Additional paid-in capital 77,452,175 76,369,742
Accumulated deficit (83,034,396) (75,734,927)
Total stockholders’ (deficit) equity (5,582,021) 635,013
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY $ 17,241,437 $ 22,725,613