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

Condensed Consolidated Statements of Cash Flows

v3.21.4
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss $ (20,032,950) $ (13,043,941) $ (17,546,771) $ (23,432,618)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation & amortization expense 1,009,192 962,296 1,290,128 1,089,744
(Gain) Loss on disposal of fixed assets 13,047 13,512 461,895
Amortization of debt issuance costs 546,262 146,077 205,018
Amortization of intangible assets 184,655    
Interest income on members loan receivable (27,124) (23,745)
Bad debt expense 513,661 744,863 168,464
Gain on debt extinguishment (545,200)    
Forgiveness on paycheck protection program loan (1,669,552)    
Change in fair value of Private Warrants (213,300)    
Forgiveness of Notes Receivable 1,700,869    
Changes in operating assets and liabilities:        
Accounts receivable (4,331,314) 219,683 4,095 (86,742)
Inventory (2,141,497) (1,622,495) (1,252,481) 188,651
Vendor deposits     37,554
Prepaid media spend (170,633) (501,693) (747,662)
Prepaid expenses and other current assets (2,236,168) 500,276 364,883 (698,872)
Other assets     (34,800)
Accounts payable (357,214) 854,609 (152,514) 1,773,165
Accrued liabilities 146,773 1,176,453 1,349,215 (69,167)
Net cash used in operating activities (27,623,540) (11,295,688) (15,786,259) (20,567,926)
CASH FLOWS FROM INVESTING ACTIVITIES        
Cash paid for asset acquisition     (1,511,900)
Cash paid for purchase of equipment (897,837) (945,274) (1,046,723) (1,324,560)
Cash received for sale of equipment 65,102 54,692 56,192
Net cash used in investing activities (832,735) (890,582) (2,502,431) (1,324,560)
CASH FLOWS FROM FINANCING ACTIVITIES        
Member contributions 1,876,327 8,738,754 13,022,700
Net borrowings on line of credit     3,020,000
Borrowings on long-term debt     2,761,427 138,028
Repayments on long-term debt (4,230,928) (979,770) (1,354,651) (1,325,675)
Repurchase of member shares (99,950)    
Investment from Andina 36,135,517    
Borrowings on related party debt 9,294,000 200,000 200,000 1,240,000
Repayments on related party debt (7,889,681) (565,000) (415,000) (3,096,755)
Borrowings on short-term debt 19,694,548 7,450,000 4,509,449 3,461,027
Repayments on short-term debt (11,142,130) (43,083) (126,260) (335,527)
Issuance of convertible debt 2,795,000 2,840,000 5,414,390
Debt issuance costs (507,166) (273,810)    
Borrowings on paycheck protection program loan 1,669,552 1,669,552
Net cash provided by financing activities 41,254,210 12,129,216 18,823,271 21,538,188
Net change in cash and cash equivalents 12,797,936 (57,054) 534,581 (354,298)
Cash and cash equivalents at beginning of period 591,634 57,054 57,054 411,351
Cash and cash equivalents at end of period 13,389,570 591,634 57,054
SUPPLEMENTAL INFORMATION:        
Cash paid for interest 2,847,898 1,842,418 2,785,659 2,811,292
NON-CASH INVESTING AND FINANCING ACTIVITY:        
Members’ subscription for convertible note     1,650,000
Non-cash retirement of Bridge Notes $ 10,856,964    
Assets acquired in Kalahari transaction (Note 3)     5,867,344
Liabilities assumed in Kalahari transaction (Note 3)     (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