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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 6,649,493 $ (1,100,748) $ (6,182,224)
Adjustments to reconcile net loss to net cash flows used in operating activities      
Offering costs associated with warrant liability   1,326,212  
Change in fair value of warrant liability (11,489,000) (10,839,000)  
Deferred tax benefit   (426,681)  
Depreciation   115,299 43,818
Equity-based compensation 793,793 2,173,171 924,438
Changes in operating assets and liabilities:      
Accounts receivable   165,170 (201,801)
Inventories   (664,333) (247,041)
Other current and non-current assets   839,688 (791,808)
Accounts payable   (72,899) 390,948
Accrued expenses and other liabilities   1,251,172 539,572
Net cash flows used in operating activities   (7,232,949) (5,524,098)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment   (156,631) (1,826,838)
Net cash flows used in investing activities   (156,631) (1,826,838)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock and warrants   15,000,000 5,173,599
Payment of issuance costs   (1,421,449)  
Proceeds from loan from related party     500,000
Net cash flows provided by financing activities   13,578,551 5,673,599
Net (decrease)/increase in cash   6,188,971 (1,677,337)
Cash, beginning of period   19,629,649 2,333,117
Cash, end of period $ 25,818,620 $ 25,818,620 655,780
Supplemental schedule of non-cash activities:      
Purchases of property and equipment in accounts payable     $ 46,716