Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated and Combined Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Statement of Cash Flows [Abstract]    
Net loss $ (2,475,291) $ (19,831,855)
Adjustments to reconcile net loss to net cash flows from operations    
Depreciation and amortization 1,080,604 1,109,608
Amortization of operating lease assets 467,916 1,206,985
Asset impairment charges 1,287,579 1,288,599
Warrants issued from extension of True-Up Payment 28,060
Gain from extinguished lease liabilities (385,340)
Loss on change in fair value of investments 220,882 1,152,185
Amortization of debt discount 134,394 89,472
Loss on extinguishment of Series 1 Preferred 161,899
Loss on debt extinguishment 11,808,111
Issuance of common stock for services 27,000
Share-based compensation 15,365
Derivative liabilities revaluation (118,664) (300,000)
Change in assets and liabilities    
Accounts and other receivables 254,811 149,288
Prepaid expenses and other assets 37,901 (232,878)
Inventories (4,460) 58,791
Accounts payable and accrued expenses (2,283,232) (26,761)
Deferred grant income (51,187)
Operating lease liabilities (860,984) (1,482,421)
Derivative liability (66,136)
Deferred rent (41,587)
Deferred revenue (53,569) (71,644)
Net cash flows from operating activities (2,813,998) (4,892,561)
Cash flows from investing activities:    
Cash and restricted cash acquired in connection with acquisition 2,071,000
Purchase of property and equipment (32,141) (29,821)
Proceeds from sale of investments 118,416
Net cash flows provided by (used in) investing activities 2,157,275 (29,821)
Cash flows from financing activities:    
Loan proceeds 2,000,000 2,989,350
Loan repayments (53,949) (2,563,346)
Distributions to non-controlling interest (44,894)
Proceeds from Series 2 Preferred 1,405,000
Proceeds from warrant exercises 885,046
Redemption of Series 1 Preferred (880,289)
Merger consideration, net 5,411,745
Net cash flows provided by financing activities 1,901,157 7,247,506
Effect of exchange rate of on cash (12,615) (14,496)
Net increase in cash and restricted cash, including cash classified in current assets held for sale 1,231,819 2,310,628
Less: cash classified in current assets held for sale (110,891)
Net increase in cash and restricted cash 1,120,928 2,310,628
Cash and restricted cash, beginning of period 1,928,804 501,017
Cash and restricted cash, end of period 3,049,732 2,811,645
Supplemental cash flow information:    
Interest 320,794 222,173
Income taxes
Non-cash investing and financing activities    
Conversion of Preferred stock - Series 2 to common stock 401,208 416,392
Issuance of convertible promissory note as part of acquisition 1,194,000
Initial value of ROU asset and liability recorded for new lease 130,775
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
Warrant portion of merger consideration 1,628,909
Equity classification of Oz Rey warrants and conversion feature $ 11,894,000