Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.4
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current Assets:    
Cash $ 29,775,096 $ 40,815,123
Accounts receivable, net 104,276 1,213,195
Inventory, net 2,173,017 1,178,345
Note receivable 2,000,000  
Other current assets 1,749,613 1,449,610
Total current assets 35,802,002 44,656,273
Property and equipment, net 3,099,887 1,031,999
Other Assets:    
Goodwill 25,606,983 45,026,583
Intangible assets, net 28,787,171 25,169,489
Long-term equity investment 1,500,000 500,000
Lease deposits 218,206 218,206
Operating lease right of use assets 2,930,996 836,025
Total other assets 59,043,356 71,750,303
Total assets 97,945,245 117,438,575
Current Liabilities:    
Accounts payable 2,965,829 2,411,085
Operating lease liabilities 580,593 550,525
Accrued expenses and other current liabilities 3,092,364 1,149,907
Convertible note payable, net of debt discount and issuance cost of $3,251,865 and $0, respectively 14,901,244  
Deferred revenue 61,508 512,397
Total current liabilities 21,601,538 4,623,914
Long-Term Liabilities:    
Notes payable 300,000 300,000
Convertible notes payable, net of current 15,146,891  
Accrued interest 217,594 40,152
Operating lease liabilities, net of current 2,456,315 241,677
Total long-term liabilities 18,120,800 581,829
Total liabilities 39,722,338 5,205,743
Commitments and Contingencies (Note 14)
Stockholders’ Equity    
Preferred stock - par value $0.0001; 5,000,000 shares authorized at December 31, 2022 and December 31, 2021, respectively, and none issued or outstanding at December 31, 2022 and December 31, 2021, respectively
Preferred stock, Series A - par value $0.0001; 5,000,000 shares authorized at December 31, 2022 and December 31, 2021, respectively, and none issued or outstanding at December 31, 2022 and December 31, 2021, respectively
Common stock - par value $0.0001; 116,666,667 shares authorized; 44,108,661 and 40,990,604 issued and outstanding, respectively December 31, 2022 and December 31, 2021, respectively 4,411 4,099
Additional paid in capital 211,733,690 192,502,122
Accumulated deficit (153,515,194) (80,273,389)
Total stockholders’ equity 58,222,907 112,232,832
Total liabilities and stockholders’ equity $ 97,945,245 $ 117,438,575