XML 40 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Income Statement [Abstract]        
Revenue $ 59,573,508 $ 32,089,993 $ 127,935,501 $ 85,593,786
Cost of revenue (includes amortization of developed technology and platform development for three months ended 2021 and 2020 of $2,241,243 and $2,089,286, respectively, and for nine months ended 2021 and 2020 of $6,565,600 and $6,348,619, respectively) 32,173,859 24,708,941 83,978,050 76,321,953
Gross profit 27,399,649 7,381,052 43,957,451 9,271,833
Operating expenses        
Selling and marketing 22,712,193 9,928,901 55,122,357 27,698,182
General and administrative 23,023,883 7,172,175 44,230,360 24,852,891
Depreciation and amortization 4,055,432 4,053,184 11,981,998 12,276,990
Total operating expenses 49,791,508 21,154,260 111,334,715 64,828,063
Loss from operations (22,391,859) (13,773,208) (67,377,264) (55,556,230)
Other (expense) income        
Change in valuation of warrant derivative liabilities 801,755 (517,405) 496,812 (134,910)
Change in valuation of embedded derivative liabilities (2,370,000) 2,173,000
Interest expense (2,512,637) (4,253,180) (7,695,317) (12,169,315)
Interest income 1,116 471 4,499
Liquidated damages (833,612) (319,903) (2,197,615) (1,487,577)
Other expenses (31,851) (31,851)
Gain upon debt extinguishment 5,716,697
Total other expense (2,544,494) (7,491,223) (3,678,952) (11,646,154)
Loss before income taxes (24,936,353) (21,264,431) (71,056,216) (67,202,384)
Income taxes 229,699 229,699
Net loss (24,706,654) (21,264,431) (70,826,517) (67,202,384)
Deemed dividend on Series H convertible preferred stock (132,663) (132,663)
Net loss attributable to common stockholders $ (24,706,654) $ (21,397,094) $ (70,826,517) $ (67,335,047)
Basic and diluted net loss per common stock $ (0.10) $ (0.55) $ (0.29) $ (1.72)
Weighted average number of common stock outstanding – basic and diluted 252,811,058 39,186,432 244,209,151 39,177,864