Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets (Unaudited)

v3.21.1
Condensed Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 22,966,320 $ 1,231,235
Accounts receivable, net of allowance for doubtful accounts 2,365,063 1,270,380
Accounts receivable - related party 0 80,494
Inventory 5,588,257 2,619,145
Notes receivable - related party 40,231 181,911
Prepaid expenses 627,016 614,200
Total current assets 31,586,887 5,997,365
Non-current assets    
Fixed assets, net accumulated depreciation of $1,032,211 and $872,579, respectively 3,089,027 2,584,798
Goodwill 40,532,910 53,046,729
Intangible assets, net accumulated amortization of $1,796,386 and $200,456, respectively 97,589,114 3,082,044
Marketable securities, net of unrealized gain (loss) of $214,630 and ($129,992), respectively 491,412 276,782
Accounts receivable - litigation 3,063,968 3,063,968
Other noncurrent assets 423,710 51,879
Operating lease right of use assets 4,242,124 2,579,036
Total non-current assets 149,432,265 64,685,236
Total assets 181,019,152 70,682,601
Current liabilities    
Accounts payable 2,481,572 3,508,478
Accounts payable - related party 41,123 48,982
Accrued expenses 8,298,446 2,705,445
Derivative liabilities 2,301,295 1,047,481
Deferred revenue 0 50,000
Notes payable - related party 0 5,000,000
Total current liabilities 13,122,436 12,360,386
Long-term liabilities    
Long term debt 54,250,000 13,901,759
Lease liabilities 4,342,018 2,645,597
Total long-term liabilities 58,592,018 16,547,356
Total liabilities 71,714,454 28,907,742
Shareholders' equity    
Common stock $0.001 par value. 250,000,000 authorized, 42,819,815 shares issued and 42,331,595 outstanding as of March 31, 2021 and 42,601,773 shares issued and 42,169,041 outstanding as of December 31, 2020, respectively. 42,820 42,602
Preferred stock $0.001 par value. 10,000,000 authorized. 87,266 shares issued and outstanding as of March 31, 2021 and 19,716 shares issued and outstanding as of December 31, 2020, respectively. 87 20
Additional paid-in capital 157,530,563 85,357,835
Accumulated deficit (46,823,076) (42,293,098)
Common stock held in treasury, at cost, 488,220 shares held as of March 31, 2021 and 432,732 shares held as of December 31, 2020. (1,445,696) (1,332,500)
Total shareholders' equity 109,304,698 41,774,859
Total liabilities and stockholders' equity $ 181,019,152 $ 70,682,601