Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.23.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalent $ 623,163 $ 2,217,191
Accounts receivable, net 2,488,693 3,113,109
Inventory, net 8,258,642 7,215,981
Prepaid media spend, net of reserve   450,000
Prepaid expenses and other current assets 1,550,717 2,042,711
Total current assets 12,921,215 15,038,992
Property and equipment, net 8,816,573 6,825,895
Right of use asset, net 5,009,954 767,382
Goodwill 8,450,000 8,450,000
Intangible asset, net 4,362,024 4,604,359
Prepaid media spend, net of reserve and current portion   1,084,548
Other assets   4,192
TOTAL ASSETS 39,559,766 36,775,368
CURRENT LIABILITIES    
Accounts payable 3,009,875 3,097,516
Accrued expenses 1,727,555 1,634,978
Current portion of lease liability 327,915 168,482
Line of credit, net of debt issuance costs 1,046,101 3,500,000
Current portion of long-term debt 969,421 3,447,056
Total current liabilities 7,080,867 11,848,032
Long-term debt, net of current portion, net of debt issuance costs 3,696,578 119,542
Lease liability, net of current portion 4,734,128 598,900
Financing obligation - related party operating lease 7,500,000 7,500,000
Deferred tax liability, net 1,555 67,223
Deferred stock compensation liability 89,828 71,197
Warrant liability 20,625 128,375
TOTAL LIABILITIES 23,123,581 20,333,269
Commitments and Contingencies
STOCKHOLDERS' EQUITY    
Preferred stock - $0.0001 par value, 10,000,000 shares authorized, 0 shares issued and outstanding
Additional paid-in-capital 133,684,599 100,551,257
Accumulated deficit (117,251,616) (84,111,171)
TOTAL STOCKHOLDERS' EQUITY 16,436,185 16,442,099
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 39,559,766 36,775,368
Common Class A [Member]    
STOCKHOLDERS' EQUITY    
Common stock 2,572 863
Common Class V [Member]    
STOCKHOLDERS' EQUITY    
Common stock $ 630 $ 1,150