XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities:    
Net income/(loss) $ (4,297,249) $ 1,846,384
Adjustments to reconcile net income (loss) to cash used in operating activities:    
Depreciation and amortization 16,665 12,874
Operating lease asset amortization 168,671 158,502
Amortization of debt discount 2,069,206 542,164
Loss on equity method investment 2  
Warranty reserve   (463)
Gain on extinguishment of liabilities, net   (3,617,904)
Changes in operating assets and liabilities:    
Accounts receivable (512,004) (12,100)
Inventories (45,448) (130,369)
Prepaid expenses and other current assets (411,802) (161,592)
Accounts payable (41,565) (96,691)
Related party payable   (103,334)
Operating lease liabilities (157,479) (140,105)
Accrued interest 15,107 5,413
Accrued expenses 403,816 (312,073)
Net cash used in operating activities (2,792,080) (2,009,294)
Investing Activities:    
Contributions to equity method investment (83,559)  
Payments on purchase of assets (57,451)  
Patent activity costs (308)  
Net cash used in investing activities (141,318)  
Financing Activities:    
Proceeds from issuance of stock   5,500,000
Net cash provided by financing activities   5,500,000
Net change in cash and cash equivalents (2,933,398) 3,490,706
Cash and cash equivalents at beginning of period 5,961,760 167,725
Cash and cash equivalents at end of period 3,028,362 3,658,431
Non-Cash Transactions:    
Non-cash conversions of preferred stock and convertible notes to equity 9,200,000 $ 5,800,000
Series 1A preferred stock conversion $ 740