Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.21.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 254,527 $ 575,986
Accounts receivable, net 272,264 35,532
Due from factor, net 1,094,309 210,033
Inventory 2,327,542 1,163,279
Prepaid expenses and other current assets 1,525,818 23,826
Total current assets 5,474,460 2,008,656
Deferred offering costs 367,696 214,647
Property, equipment and software, net 97,862 62,313
Goodwill 17,771,031 6,479,218
Intangible assets, net 16,779,126 7,494,667
Deposits 174,109 92,668
Total assets 40,664,284 16,352,169
Current liabilities:    
Accounts payable 6,855,352 5,668,703
Accrued expenses and other liabilities 1,853,954 1,245,646
Deferred revenue 193,023 1,667
Due to related parties 232,635 441,453
Contingent consideration liability 10,527,910  
Convertible notes, current 100,000 700,000
Accrued interest payable 855,729 737,039
Note payable - related party 299,489 137,856
Venture debt, current 300,000 5,854,326
Loan payable, current 1,796,000 992,000
Promissory note payable, current 655,000 4,500,000
Total current liabilities 23,669,092 20,278,690
Convertible note payable, net 2,793,385 1,215,815
Loan payable 1,677,213 709,044
Promissory note payable 2,845,000  
Venture debt, net of discount 5,701,755  
Derivative liability 2,486,843  
Warrant liability 28,195 6,265
Total liabilities 39,201,483 22,209,814
Commitments and contingencies (Note 12)
Stockholders' equity (deficit):    
Common stock, $0.0001 par, 200,000,000 and 110,000,000 shares authorized, 12,627,488 and 664,167 shares issued and outstanding as of both September 30, 2021 and December 31, 2020, respectively 1,263 66
Additional paid-in capital 57,467,015 27,481,995
Accumulated deficit (56,005,477) (33,345,997)
Total stockholders' equity (deficit) 1,462,801 (5,857,645)
Total liabilities and stockholders' equity (deficit) $ 40,664,284 16,352,169
Series Seed Preferred Stock    
Stockholders' equity (deficit):    
Convertible preferred stock   2,071
Series A convertible preferred stock    
Stockholders' equity (deficit):    
Convertible preferred stock   565
Series A-2 convertible preferred stock    
Stockholders' equity (deficit):    
Convertible preferred stock   593
Series A-3 convertible preferred stock    
Stockholders' equity (deficit):    
Convertible preferred stock   904
Series CF convertible preferred stock    
Stockholders' equity (deficit):    
Convertible preferred stock   83
Series B Convertible Preferred Stock    
Stockholders' equity (deficit):    
Convertible preferred stock   $ 2,075