XML 20 R7.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net loss $ (19,686,232) $ (12,827,343)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation and amortization 1,032,971 124,627
Changes in fair value of warrant liabilities 0 (31,000)
Stock-based compensation 3,029,125 2,705,365
Amortization on right-of-use assets 504,232 96,973
Changes in operating assets and liabilities:    
Prepaid expenses and deposits (743,876) (1,106,072)
Other receivables 1,000,273 52,749
Accounts payable and accrued expenses (912,067) 2,770,341
Lease liability (130,503) (187,068)
Net cash used in operating activities (15,906,077) (8,401,428)
Cash Flows from Investing Activities:    
Purchase of property and equipment (780,716) (1,299,193)
Purchase of Construction in Progress 0 (2,629,141)
Net cash used in investing activities (780,716) (3,928,334)
Cash Flows from Financing Activities:    
Proceeds from issuance of common stock, net 52,552,758 0
Proceeds from exercise of warrants 0 550,000
Proceeds from exercise of stock options 3,087 0
Net cash provided by financing activities 52,555,845 550,000
Net increase (decrease) in cash 35,869,052 (11,779,762)
Cash and cash equivalents at beginning of the period 21,352,382 43,903,949
Cash and cash equivalents at end of the period 57,221,434 32,124,187
Supplemental schedule of non-cash financing activities:    
Reclassifications between construction in progress and fixed assets 6,789,098 0
Issuance of common stock as commitment fee for future financing 0 345
Recognition of right-of-use assets and lease liability from new operating lease agreements $ 0 $ 9,184,027