General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Statements of Cash Flows

v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss $ (7,313,742) $ (5,761,151) $ (31,989,922) $ (17,546,771)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation expense 383,782 332,813 1,376,495 1,290,128
Loss on disposal of fixed assets 1,076 11,015 13,512
Amortization of intangible assets 60,584 62,035 245,238
Amortization of debt issuance costs 4,861 532,547 205,018
Net change in right-of-use assets and liabilities 727 34,226
Interest income on members loan receivable (12,205) (27,123) (23,745)
Bad debt expense 55,309 85,598 1,078,302 744,863
Gain on debt extinguishment     (545,200)
Forgiveness on paycheck protection program loan (1,669,552) (1,669,552)
Amortization of stock based compensation     549,510
Stock based compensation expense 327,759    
Change in fair value of Private Warrants (45,314) (252,800)
Forgiveness of Notes Receivable     1,700,869
Changes in operating assets and liabilities:        
Accounts receivable (757,632) (1,370,076) (3,299,522) 4,095
Inventory (6,030,711) (872,950) (3,842,948) (1,252,481)
Prepaid media spend     (786,886) (747,662)
Prepaid expenses and other current assets 68,854 (650,030) (1,703,444) 364,883
Vendor deposits 4,193 30,607 (34,800)
Accounts payable (334,513) 822,830 (741,868) (152,514)
Accrued liabilities (546,460) 726,117 1,059,591 1,349,215
Net cash used in operating activities (14,127,164) (8,300,635) (38,240,865) (15,786,259)
CASH FLOWS FROM INVESTING ACTIVITIES        
Cash paid for acquisition     (1,511,900)
Cash paid for purchase of equipment (693,329) (193,456) (1,435,022) (1,046,723)
Cash received for sale of equipment 66,750 66,750 56,192
Net cash used in investing activities (693,329) (126,706) (1,368,272) (2,502,431)
CASH FLOWS FROM FINANCING ACTIVITIES        
PIPE capital raise 32,311,187    
Exercise of Prefunded Warrants 75    
Member contributions     8,738,754
Repurchase of member shares (99,950) (99,950)
Post closing adjustment of BCA (238,089)    
Investment from Andina     36,135,517
Borrowings on long-term debt     200,000 2,761,427
Repayments on long-term debt (4,843,403) (527,593) (4,472,150) (1,354,651)
Borrowings on related party debt 1,794,000 13,904,000 200,000
Repayments on related party debt (3,001,366) (7,611,366) (415,000)
Borrowings on short-term debt 11,601,216 14,884,549 4,509,449
Repayments on short-term debt (2,000,000) (11,198,740) (126,260)
Issuance of convertible debt     2,840,000
Debt issuance costs (50,000) (507,166)
Borrowings on paycheck protection program loan     1,669,552
Net cash provided by financing activities 25,229,771 9,716,308 41,234,694 18,823,271
Net change in cash and cash equivalents 10,409,278 1,288,967 1,625,557 534,581
Cash and cash equivalents at beginning of period 2,217,191 591,634 591,634 57,053
Cash and cash equivalents at end of period 12,626,469 1,880,601 2,217,191 591,634
SUPPLEMENTAL INFORMATION:        
Cash paid for interest $ 222,458 $ 347,120 2,800,004 2,439,426
NON-CASH INVESTING AND FINANCING ACTIVITY:        
Non-cash retirement of Bridge Notes     10,856,964
Right-of-use assets obtained in exchange for operating lease liabilities     937,147
Member subscriptions for convertible note     1,650,000
Assets acquired in Kalahari transaction     5,867,344
Liabilities assumed in Kalahari transaction     (882,438)
Short term debt converted to related party debt     3,001,366
Accrued interest converted to Series 3 Preferred units     1,088,561
Long term debt converted to related party debt     550,000
Related party debt converted to Series 3 Preferred units     3,997,067
Short term debt converted to Series 3 Preferred units     $ 200,000