XML 16 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flow from operating activities:    
Net loss $ (6,462,645) $ (8,106,695)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 649,126 402,738
Vesting expense 598,325 422,777
Amortization of debt discount 244,830 858,353
(Gain) loss on valuation of equity-linked instruments and derivative liability (64,762) 394,974
Debt extinguishment costs 0 300,000
Equity instruments issued in connection with 2020 convertible debt 0 20,695
Equity instruments issued for management, consultant, and other 52,471 397,300
Gain on note receivable in connection with asset purchase 0 (1,290,000)
Loss on fixed asset disposal 0 118,472
Changes in assets and liabilities:    
Accounts receivable 60,358 113,769
Inventories (28,291) (45,212)
Prepaid expense and other assets 39,852 (197,182)
Accounts payable (430,110) (614,651)
Accrued expenses (198,890) 505,380
Deferred revenue 101,317 (1,802)
Other long-term liabilities (88,559) 0
Net cash used in operating activities (5,526,978) (6,721,084)
Cash flow from investing activities:    
Purchase of fixed assets (610,906) 0
Proceeds from asset sales 0 133,850
Acquisition of intangibles (22,870) (43,874)
Net cash provided by (used in) investing activities: (633,776) 89,976
Cash flow from financing activities:    
Proceeds from issuance of common stock and warrants, net 50,515,810 5,057,919
Proceeds from debt issuance 0 2,761,867
Proceeds from exercise of warrants into common stock 4,495,270 1,866,554
Repayment of debt (4,162,744) (1,459,973)
Proceeds from issuance of common stock pursuant to equity line 588,590 1,869,899
Payment penalties (1,073,470) (247,327)
Other financing (security deposit) 0 25,416
Net cash provided by financing activities 50,363,456 9,874,355
Net increase in cash and cash equivalents 44,202,702 3,243,247
Cash and cash equivalents at beginning of period 678,332 150,831
Cash and cash equivalents at end of period 44,881,034 3,394,078
Non-cash transactions:    
Bridge loan conversion into common stock $ 0 $ 267,328
Shares issued pursuant to former CEO note conversion and accrued interest and exchange agreement (in shares) 0 2,322,878
Shares issued to former CEO per agreement related to accrued interest $ 143,573 $ 0
Put and conversion derivative from debt issuance 0 141,463
Inducement shares issued pursuant to convertible debt 514,011 99,305
Inducement shares issued for debt extension 0 41,250
Increase to operating lease right of use asset and lease liability due to lease modification 0 995,571
Warrants issued pursuant to debt issuance 0 179,324
Asset purchase acquired for notes receivable and common stock 0 1,492,500
Interest paid on debt 694,435 0
Conversion of Series E Preferred Stock [Member]    
Non-cash transactions:    
Preferred stock conversions 0 3
Preferred stock conversions 0 3
Conversion of Series D Preferred Stock to Common Stock [Member]    
Non-cash transactions:    
Preferred stock conversions 0 35,000
Preferred stock conversions $ 0 $ 35,000