Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.21.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of financial assets and liabilities measured at fair value on recurring basis

Fair Value Measurements

as of September 30, 2021 Using:

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities:

Warrant liability

$

$

28,195

$

$

28,195

Contingent consideration

 

 

 

10,527,910

 

10,527,910

Derivative liability

2,486,843

2,486,843

$

$

28,195

$

13,014,753

$

13,042,948

Fair Value Measurements

as of December 31, 2020 Using:

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities:

Warrant liability

$

$

$

6,265

$

6,265

$

$

$

6,265

$

6,265

Schedule of changes in common stock warrant liability

    

Warrant

Liability

Outstanding as of December 31, 2020

$

6,265

Change in fair value

 

21,930

Outstanding as of September 30, 2021

$

28,195

Schedule of changes in contingent consideration

    

Contingent

Consideration

Liability

Balance as of December 31, 2020

$

Initial recognition in connection with acquisition of Harper & Jones

 

3,421,516

Stock price guarantee per consulting agreement

 

67,000

Change in fair value

 

7,039,394

Outstanding as of September 30, 2021

$

10,527,910

Summary of changed in derivative liability

Derivative

    

Liability

Outstanding as of December 31, 2020

$

Initial fair value on issuance of convertible note

 

1,858,887

Change in fair value

 

627,956

Outstanding as of September 30, 2021

$

2,486,843

Schedule of estimated useful lives of amortizable intangible assets

Customer relationships

    

3 years

Schedule of potentially dilutive items outstanding

    

September 30, 

2021

2020

Convertible notes

2,240,426

Series Seed Preferred Stock (convertible to common stock)

 

 

20,714,518

Series A Preferred Stock (convertible to common stock)

 

 

5,654,072

Series A-2 Preferred Stock (convertible to common stock)

 

 

5,932,742

Series CF Preferred Stock (convertible to common stock)

 

 

836,331

Series A-3 Preferred Stock (convertible to common stock)

 

 

9,032,330

Series B Preferred Stock (convertible to common stock)

 

 

20,754,717

Common stock warrants

 

3,591,348

 

794,569

Preferred stock warrants

 

 

806,903

Stock options

 

3,875,103

 

1,129,503

Total potentially dilutive shares

 

9,706,877

 

65,655,685