Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS        
Net revenues $ 2,163,280 $ 1,234,805 $ 3,575,214 $ 4,475,507
Cost of net revenues 954,137 1,729,709 2,179,023 3,884,864
Gross profit (loss) 1,209,143 (494,904) 1,396,191 590,643
Operating expenses:        
General and administrative 3,720,863 1,356,653 12,820,841 5,258,084
Sales and marketing 1,307,219 101,081 2,401,322 543,327
Distribution 105,332 65,681 238,774 279,362
Loss on disposal of property and equipment   593,449   593,449
Impairment of intangible assets   784,500   784,500
Change in fair value of contingent consideration 3,988,493   7,039,394  
Total operating expenses 9,121,907 2,901,364 22,500,331 7,458,722
Loss from operations (7,912,764) (3,396,268) (21,104,140) (6,868,079)
Other income (expense):        
Interest expense (447,842) (550,505) (2,020,806) (1,239,437)
Other non-operating income (expenses) (577,441) 32,193 (634,654) 32,193
Total other income (expense), net (1,025,283) (518,312) (2,655,460) (1,207,244)
Income tax benefit (provision)   276 (1,100,120) 13,657
Net loss $ (8,938,047) $ (3,914,856) $ (22,659,480) $ (8,088,980)
Weighted average common shares outstanding - basic and diluted 11,786,592 664,167 6,002,669 664,167
Net loss per common share - basic and diluted $ (0.76) $ (5.89) $ (3.77) $ (12.18)