XML 23 R7.htm IDEA: XBRL DOCUMENT v3.23.1
Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (27,649,876) $ (46,371,364)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 3,131,368 4,640,681
Depreciation expense 428,977 369,236
Amortization of intangible assets 107,000 107,000
Amortization of debt discount 1,533,048 1,845,358
Loss on extinguishment of debt 2,500,970
Impairment on notes receivable 543,938 14,500,000
Disposal of fixed assets 6,976
Changes in operating assets and liabilities:    
Accounts receivable (36,767) (312,460)
Prepaid expenses 23,884 (306,954)
Deposits (438,117) (89,844)
Inventory (455,396) (494,697)
Accounts payable and accrued expenses 412,959 1,333,930
Net cash used in operating activities (22,392,006) (22,278,144)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (367,079) (1,015,752)
Tenant improvement allowance receivable 125,161 (287,018)
Notes receivable and accrued interest (15,002,521)
Net cash used in investing activities (241,918) (16,305,291)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from note payable - related party 80,000
Repayments of note payable - related party (80,000)
Proceeds from notes and convertible notes payable, net of offering costs 2,795,000 4,473,540
Repayments of notes and convertible notes payable (3,206,887) (315,790)
Sale of Series B Preferred shares to related party 20,000
Redemption of Series B Preferred shares to related party (20,000)
Common stock and warrants issued for cash, net of issuance costs 17,233,307 29,868,611
Exercise of warrants, net of offering costs 1,109,574 3,727,285
Payments on financing on fixed asset (400,491) (598,976)
Cash paid on extinguishment of note payable (1,200,000)
Net cash provided by financing activities 17,530,503 35,954,670
NET DECREASE IN CASH (5,103,421) (2,628,765)
CASH AT BEGINNING OF YEAR 7,872,061 10,500,826
CASH AT END OF YEAR 2,768,640 7,872,061
Supplemental cash flow information:    
Cash paid for income taxes
Cash paid for interest expense 753,038 15,789
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Issuance of shares for the settlement of notes payable 5,749,922
Lease liability recognized from right of use asset 3,131,388
Issuance of shares for the settlement of accounts payable 80,000
Original offering discount on convertible note payable 1,000,000
Debt discount from warrants issued with convertible note payable 878,622 1,322,840
Debt discount from warrant consideration for convertible debt offering costs 231,316
Debt discount from shares issued as inducement for convertible note payable 146,522
Liability recognized for financed assets 821,862
Reduction in exercise price of warrants 102,267
Shares issued for debt offering costs 96,030
Warrant modification 37,677
Deferred issuance costs $ 50,000