v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (65,903,950) $ (71,647,618)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 7,113,369 5,495,502
Loss on disposal of fixed assets 426,536 220,761
Interest paid in kind 2,997,746 0
Stock-based compensation 5,214,531 3,488,253
Amortization of debt discount 2,401,669 1,897,373
Loss on extinguishment of debt 6,669,941 0
Amortization of license revenue (142,834) (142,834)
Changes in operating assets and liabilities:    
Accounts receivable 13,071,809 (15,339,567)
Inventories (38,555,957) (43,188,489)
Prepaid expenses and other current assets (755,900) (1,292,779)
Deposits and other assets 122,468 (1,775,205)
Accounts payable 799,981 1,355,700
Accrued expenses 7,534,572 8,341,341
Other current and non-current liabilities (502,238) 218,580
Net cash used in operating activities (59,508,257) (112,368,982)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (13,911,171) (13,511,258)
Net cash used in investing activities (13,911,171) (13,511,258)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on notes payable (100,000,000) 0
Proceeds from issuance of common stock, net of offering expenses 64,645,289 121,144,103
Payment of debt refinancing fees (2,000,000) 0
Proceeds from issuance of note payable 151,750,000 0
Taxes paid on vested Restricted Stock Units (2,898,840) (61,598)
Payments on finance lease obligations (36,684) (34,299)
Proceeds from the exercise of stock options 175,015 0
Payment of deferred financing fees (2,782,928) 0
Net cash provided by financing activities 108,851,852 121,048,206
Net increase (decrease) in cash and cash equivalents 35,432,424 (4,832,034)
Cash and cash equivalents - beginning of year 51,089,118 55,921,152
Cash and cash equivalents - end of year $ 86,521,542 $ 51,089,118

Source

PDF HTML
10-K Filing
ZIP XLS HTML
XBRL