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Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss before non-controlling interest $ (24,022,237) $ (14,564,620)
Adjustments to reconcile net loss to net cash (used) in operating activities:    
Investment in unconsolidated entity (893,058) (635,073)
Depreciation and amortization 28,509 6,566
Financing fees amortization 110,172 97,269
Amortization of loan prepayment premium 300,000 0
Note payable interest accretion 216,286 (21,443)
Right of use asset amortization 119,276 108,109
Share-based compensation 1,025,283 937,939
Loss (gain) on debt forgiveness   (374,835)
Deferred income 0 (3,818,750)
(Increase) decrease in:    
Accounts receivable (153,788) (92,431)
Other assets 295,246 372,422
Increase (decrease) in:    
Accounts payable 6,301,005 4,537,885
Accrued expenses and other 10,641,134 9,310,413
NET CASH USED IN OPERATING ACTIVITIES (6,032,172) (4,136,549)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (316,823) (16,141)
NET CASH USED IN INVESTING ACTIVITIES (316,823) (16,141)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of loans payable 2,200,000 1,278,218
Payment of operating lease liability (119,895) (104,303)
Proceeds from sale of equity of subsidiary   713,879
Payment of debt obligation (5,361,560) (355,273)
Repurchase of stock-based awards withheld for payment of withholding tax requirements (563,268) 0
Offering cost paid on sale of common stock (1,810,800) 0
Proceeds from sale of commons stock 16,512,375 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 10,856,852 1,532,521
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 4,507,857 (2,620,169)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 2,274,751 6,163,205
CASH AND CASH EQUIVALENTS AT END OF PERIOD 6,782,608 3,543,036
SUPPLEMENTARY INFORMATION:    
Interest paid 222,000 0
Income taxes paid 0 0
NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Director compensation settled with equity $ 403,012 100,000
Gain on debt forgiveness   $ 370,400