Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash and cash equivalents $ 14,115,989 $ 29,775,096
Restricted cash 41,465
Accounts receivable, net 1,118,116 104,276
Inventory, net 3,762,780 2,173,017
Note receivable 2,000,000
Other current assets 2,183,512 1,749,613
Total current assets 21,221,862 35,802,002
Property and equipment, net 5,990,050 3,023,285
Other Assets:    
Goodwill 27,603,438 25,606,983
Intangible assets, net 34,172,393 28,863,773
Long-term equity investment 1,500,000 1,500,000
Deposits and other assets 357,005 218,206
Operating lease right of use assets 2,926,886 2,930,996
Total other assets 66,559,722 59,119,958
Total assets 93,771,634 97,945,245
Current Liabilities:    
Accounts payable 5,165,544 2,965,829
Operating lease liabilities 694,640 580,593
Accrued expenses and other current liabilities 2,467,532 3,092,364
Convertible note payable, net of unamortized debt discount and issuance cost of $1,808,780 and $3,251,865, respectively 15,745,110 14,901,244
Government grant liability 236,766
Deferred revenue 412,408 61,508
Total current liabilities 24,722,000 21,601,538
Long-Term Liabilities:    
Notes payable 300,000 300,000
Convertible notes payable, net of current 10,243,776 15,146,891
Accrued interest 438,973 217,594
Government grant liability, net of current 1,576,138  
Operating lease liabilities, net of current 2,406,813 2,456,315
Total long-term liabilities 14,965,700 18,120,800
Total liabilities 39,687,700 39,722,338
Commitments and Contingencies (Note 11)
Stockholders’ Equity    
Preferred stock - par value $0.0001; 5,000,000 shares authorized at March 31, 2023 and December 31, 2022, respectively, and none issued or outstanding at March 31, 2023 and December 31, 2022, respectively
Preferred stock, Series A - par value $0.0001; 5,000,000 shares authorized at March 31, 2023 and December 31, 2022, respectively, and none issued or outstanding at March 31, 2023 and December 31, 2022, respectively
Common Stock - par value $0.0001; 116,666,667 shares authorized; 49,108,159 and 44,108,661 issued and outstanding, respectively March 31, 2023 and December 31, 2022, respectively 4,911 4,411
Additional paid in capital 222,049,768 211,733,690
Accumulated deficit (167,970,745) (153,515,194)
Total stockholders’ equity 54,083,934 58,222,907
Total liabilities and stockholders’ equity $ 93,771,634 $ 97,945,245