Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current Assets:    
Cash and cash equivalents $ 3,063,905 $ 29,775,096
Restricted cash 40,811
Accounts receivable, net 4,912,902 104,276
Inventory, net 2,907,263 2,173,017
Note receivable 2,000,000
Other current assets 2,165,063 1,749,613
Total current assets 13,089,944 35,802,002
Property and equipment, net 5,691,432 3,023,285
Other Assets:    
Goodwill, net 27,671,921 25,606,983
Intangible assets, net 33,448,239 28,863,773
Long-term equity investment 1,500,000 1,500,000
Deposits and other assets 419,609 218,206
Operating lease right of use assets 2,740,434 2,930,996
Total other assets 65,780,203 59,119,958
Total assets 84,561,579 97,945,245
Current Liabilities:    
Accounts payable 4,890,428 2,965,829
Operating lease liabilities 614,227 580,593
Accrued expenses and other current liabilities 2,874,396 3,268,993
Convertible note payable, net of unamortized debt discount and issuance cost of $1,171,661 and $2,303,664, respectively 20,280,629 15,849,445
Government grant liability 248,012
Deferred revenue 142,635 61,508
Total current liabilities 29,050,327 22,726,368
Long-Term Liabilities:    
Notes payable 300,000 300,000
Convertible notes payable, net of current, net of unamortized debt discount and issuance cost of $404,964 and $948,201, respectively 1,595,036 14,198,690
Accrued interest 40,544 40,965
Government grant liability, net of current 1,763,556
Operating lease liabilities, net of current 2,294,323 2,456,315
Total long-term liabilities 5,993,459 16,995,970
Total liabilities 35,043,786 39,722,338
Commitments and Contingencies (Note 11)
Stockholders’ Equity    
Preferred stock - par value $0.0001; 5,000,000 shares authorized at June 30, 2023 and December 31, 2022, respectively, and none issued or outstanding at June 30, 2023 and December 31, 2022, respectively
Preferred stock, Series A - par value $0.0001; 5,000,000 shares authorized at June 30, 2023 and December 31, 2022, respectively, and none issued or outstanding at June 30, 2023 and December 31, 2022, respectively
Common Stock - par value $0.0001; 116,666,667 shares authorized; 52,451,402 and 44,108,661 issued and outstanding, respectively June 30, 2023 and December 31, 2022, respectively 5,245 4,411
Additional paid in capital 226,441,379 211,733,690
Accumulated deficit (176,928,831) (153,515,194)
Total stockholders’ equity 49,517,793 58,222,907
Total liabilities and stockholders’ equity $ 84,561,579 $ 97,945,245