v3.21.1
Condensed Consolidated and Combined Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Statement of Cash Flows [Abstract]    
Net loss $ (2,712,712) $ (1,568,209)
Adjustments to reconcile net loss to net cash flows from operations    
Depreciation and amortization 367,655 415,831
Amortization of operating lease assets 225,947 628,210
Asset impairment charges 1,287,579
Gain from extinguished lease liabilities (43,355)  
Stock-based compensation 28,000
Gain on investments (3,706) (8,198)
Amortization of debt discount 44,736
Derivative liabilities revaluation (184,800) 297,000
Change in assets and liabilities    
Accounts and other receivables 221,463 68,339
Prepaid and other assets 182,355 (683,972)
Inventories 3,474 12,807
Accounts payable and accrued expenses 328,345 (195,975)
Operating lease liabilities (381,873) (874,842)
Contract liabilities (17,856) (24,043)
Net cash flows from operating activities (682,748) (1,905,052)
Cash flows from investing activities:    
Purchase of property and equipment (1,693) (19,713)
Net cash flows used in investing activities (1,693) (19,713)
Cash flows from financing activities:    
Proceeds from Series 2 Preferred 1,405,000
Proceeds from warrant exercises 885,046
Loan proceeds 2,000,000 414,400
Loan repayments (44,642) (697,237)
Net cash flows provided by financing activities 1,955,358 2,007,209
Effect of exchange rate of on cash 6,661 (34,195)
Net increase in cash and restricted cash 1,277,578 48,249
Cash and restricted cash, beginning of period 1,928,804 501,017
Cash and restricted cash, end of period 3,206,382 549,266
Supplemental cash flow information:    
Interest 203,775 46,899
Income taxes 3,490
Non-cash investing and financing activities    
Conversion of Preferred stock - Series 2 to common stock 73,000 416,392
Preferred stock dividends paid through issuance of common stock 19,523
Accrued interest paid through warrant exercise 318,700
Bifurcation of derivative liability from Preferred Stock - Series 2 $ 529,000

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