v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (75,748,548) $ (48,279,317)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,942,292 3,258,148
Loss on disposal of fixed assets 81,697 207,071
Stock-based compensation 2,855,122 2,650,777
Amortization of debt discount 1,782,428 1,180,348
(Gain) loss on extinguishment of debt (991,797) 9,962,495
Gain on transfer of plasma center assets 0 (11,527,421)
Amortization of license revenue (142,834) (142,834)
Changes in operating assets and liabilities:    
Accounts receivable (9,767,371) (2,077,478)
Inventories (28,470,864) (34,650,132)
Prepaid expenses and other current assets (512,873) (773,174)
Deposits and other assets (196,749) 107,974
Accounts payable 1,899,115 3,274,200
Accrued expenses 3,401,815 806,353
Other current and non-current liabilities (134,391) (190,514)
Net cash used in operating activities (102,002,958) (76,193,504)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (12,726,680) (3,811,838)
Proceeds from the sale of property and equipment 2,000 0
Net cash used in investing activities (12,724,680) (3,811,838)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on notes payable (13,950,000) (30,000,000)
Payment of end of end of term fee 0 (2,760,000)
Proceeds from issuance of common stock, net of offering expenses 131,195,291 48,397,088
Proceeds from the exercise of stock options 13,432 75,048
Payment of debt refinancing fees (830,000) (6,499,867)
Proceeds from issuance of note payable 27,500,000 72,500,000
Payment of debt issuance costs 0 (1,679,661)
Payments on finance lease obligations (32,068) (29,983)
Net cash provided by financing activities 143,896,655 80,002,625
Net increase (decrease) in cash and cash equivalents 29,169,017 (2,717)
Cash and cash equivalents, including restricted cash - beginning of year 26,752,135 26,754,852
Cash and cash equivalents - end of year $ 55,921,152 $ 26,752,135

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