Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current Assets:    
Cash and cash equivalents $ 26,060,733 $ 2,153,028
Accounts receivable, net 47,645 20,212
Inventory, net 1,152,105 427,516
Other current assets 629,030 700,599
Total current assets 27,889,513 3,301,355
Property and equipment, net 163,084 252,246
Other Assets:    
Intangible assets, net 379,530 326,344
Operating lease right of use assets 51,065 331,419
Lease deposits 28,577 52,152
Total other assets 459,172 709,915
Total assets 28,511,769 4,263,516
Current Liabilities:    
Accounts payable 2,368,203 2,322,198
Operating lease liabilities 56,168 489,407
Accrued expenses and other current liabilities 2,832,780 2,762,799
Secured promissory note, net of debt discount of $120,711 and $252,933, respectively 7,003,568 10,106,895
Deferred revenue 165,035 378,850
Notes payable 59,550
Total current liabilities 12,485,304 16,060,149
Long-Term Liabilities:    
Notes payable 906,541 539,921
Accrued interest 36,329 41,239
Operating lease liabilities, net of current 52,449
Total long-term liabilities 942,870 633,609
Total liabilities 13,428,174 16,693,758
Commitments and Contingencies
Stockholders’ Equity (Deficit):    
Preferred stock, value
Common stock - par value $0.0001; 116,666,667 shares authorized;26,540,769 and 19,756,154 issued and outstanding, respectively 2,654 1,976
Additional paid in capital 80,330,488 39,339,449
Accumulated deficit (65,249,547) (51,771,667)
Total stockholders’ equity (deficit) 15,083,595 (12,430,242)
Total liabilities and stockholders’ equity (deficit) 28,511,769 4,263,516
Series A Preferred Stock    
Stockholders’ Equity (Deficit):    
Preferred stock, value