Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

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Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net loss for the period $ (3,649,507) $ (1,379,310)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,790,568 6,113
Gain on forfeiture of contingent consideration 0 (1,462,636)
(Gain) loss on change in derivative liabilities 1,253,814 (1,191,963)
(Gain) loss on investment, net (214,630) (29,124)
Stock based compensation 1,483,806 1,252,731
Changes in operating assets and liabilities    
Accounts receivable (1,014,189) (107,426)
Accrued interest receivable 0 (1,248)
Inventory 225,878 42,251
Prepaid expenses and other current assets (12,816) 0
Other assets (371,831) (178,290)
Operating lease right of use assets and liabilities 33,334 5,053
Accounts payable and other liabilities 2,224,092 572,827
Deferred revenue (50,000) 0
Net cash provided by (used in) operating activities 1,698,519 (2,471,022)
Cash flows from investing activities    
Purchase of fixed assets (633,114) (307,178)
Cash consideration for acquisition of business (65,109,039) 0
Issuance of notes receivable 141,680 0
Net cash (used in) investing activities (65,600,473) (307,178)
Cash flows from financing activities    
Proceeds from issuance of debt, net 40,348,241 0
Repayment of notes payable (5,000,000) 0
Proceeds from issuance of stock, net of issuance costs 50,282,798 0
Net cash provided by financing activities 85,631,039 0
Net (decrease) increase in cash and cash equivalents 21,729,085 (2,778,200)
Cash and cash equivalents at beginning of period 1,237,235 11,853,627
Cash and cash equivalents at end of period 22,966,320 9,075,427
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 897,247 $ 0