XML 17 R6.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (10,662,964) $ (2,330,346)
Adjustments to reconcile net loss to net cash used in operating activities:    
Lease right-of-use asset amortization 187,464 160,856
Depreciation 96,355 85,875
Amortization of debt discount 674,202
Gain on settlement of legal contingency (438,649) (40,838)
Gain on settlement payable (8,131)
Loss on extinguishment of debt 6,743,015 62,934
Loan forgiveness (124,143)
Stock-based compensation 1,019,075 78,590
Changes in operating assets and liabilities:    
Prepaid expenses (36,263) (14,499)
Inventory (207,553) (46,173)
Accounts receivable (34,056)
Other current assets (9,004) 4,955
Accounts payable and accrued expenses (167,424) (174,174)
Subscription liability (40,000) 90,000
Lease liability (197,008) (164,310)
Net cash used in operating activities (3,879,286) (1,612,928)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (1,687,696) (115,956)
Deposits on machinery and equipment (181,200)
Net cash used in investing activities (1,868,896) (115,956)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 5,054,662 684,167
Proceeds from warrants exercised for cash 123,500
Repayment of convertible notes payable and convertible notes payable related party (35,000) (348,000)
Proceeds from notes payable and notes payable related party 1,491,194 166,727
Proceeds from convertible notes payable and convertible notes payable related party 579,741 1,720,000
Repayment of notes payable and notes payable related party (417,193) (47,250)
Net cash provided by financing activities 6,796,904 2,175,644
NET INCREASE IN CASH 1,048,722 446,760
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 259,505 129,152
CASH AND CASH EQUIVALENTS AT END OF PERIOD 1,308,227 575,912
Supplemental cash flow information:    
Cash paid for interest 34,747
Forgiveness of Paycheck Protection Program loan and accrued interest 124,143
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of notes payable into common stock 1,487,386 150,000
Return of loan commitment shares (130,000)
Issuance of warrants for services 143,595
Recording of debt discount on convertible notes 685,000
Conversion of convertible notes payable into common stock 961,373
Conversion of note payable in exchange for cash $ 300,000