Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 802,724 $ 528,394
Accounts receivable, net 190,056 89,394
Due from factor, net 929,989 985,288
Inventory 2,883,613 2,755,358
Prepaid expenses and other current assets 813,681 417,900
Total current assets 5,620,063 4,776,334
Deferred offering costs 367,696 367,696
Property, equipment and software, net 65,235 97,265
Goodwill 18,264,822 18,264,822
Intangible assets, net 11,765,688 12,841,313
Deposits 137,794 137,794
Right of use asset 201,681  
Total assets 36,422,979 36,485,224
Current liabilities:    
Accounts payable 7,003,333 6,562,690
Accrued expenses and other liabilities 3,698,717 2,237,145
Deferred revenue 221,363 276,397
Due to related parties 250,598 277,635
Contingent consideration liability 19,300,716 12,179,476
Convertible notes, current 100,000 100,000
Accrued interest payable 1,801,303 1,110,679
Note payable - related party 154,489 299,489
Venture debt, net of discount 6,251,755 6,001,755
Loan payable, current 1,489,335 2,502,000
Promissory note payable 3,500,000 3,500,000
Right of use liability, current portion 201,681  
Total current liabilities 43,973,290 35,047,266
Convertible note payable, net 5,986,068 5,501,614
Loan payable 298,900 713,182
Derivative liability 1,044,939 2,294,720
Warrant liability   18,223
Total liabilities 51,303,197 43,575,005
Commitments and contingencies (Note 11)
Stockholders' deficit:    
Common stock, $0.0001 par, 200,000,000 shares authorized, 152,874, and 13,001,690 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively 5,287 1,300
Additional paid-in capital 68,185,315 58,612,873
Accumulated deficit (83,070,820) (65,703,954)
Total stockholders' deficit (14,880,218) (7,089,781)
Total liabilities and stockholders' deficit $ 36,422,979 $ 36,485,224