Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.2.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of financial assets and liabilities measured at fair value on recurring basis

Fair Value Measurements

as of June 30, 2022 Using:

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities:

Warrant liability

$

$

$

$

Contingent consideration

 

 

 

19,300,716

 

19,300,716

Derivative liability

1,044,939

1,044,939

$

$

$

20,345,655

$

20,345,655

Fair Value Measurements

as of December 31, 2021 Using:

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities:

Warrant liability

$

$

18,223

$

$

18,223

Contingent consideration

12,179,476

12,179,476

Derivative liability

2,294,720

2,294,720

$

$

18,223

$

14,474,196

$

14,492,419

Schedule of changes in acquisition-related contingent consideration

    

Contingent

Consideration

Liability

Outstanding as of December 31, 2021

$

12,179,476

Change in fair value

 

7,121,240

Outstanding as of June 30, 2022

$

19,300,716

Bailey

    

$

10,698,475

Harper & Jones

 

8,602,241

$

19,300,716

Summary of changes in derivative liability

Derivative

    

Liability

Outstanding as of December 31, 2021

$

2,294,720

Conversion of underlying notes into common stock

(369,393)

Change in fair value

 

(880,388)

Outstanding as of June 30, 2022

$

1,044,939

Schedule of inventory

June 30,

    

December 31,

2022

2021

Raw materials

    

$

433,616

    

$

292,167

Work in process

 

258,626

 

242,673

Finished goods

 

2,191,371

 

2,220,519

Inventory

$

2,883,613

$

2,755,358

Schedule of potentially dilutive items outstanding

    

June 30, 

2022

    

2021

Convertible notes

 

46,240,766

 

Common stock warrants

 

6,333,392

 

3,946,348

Stock options

 

3,895,103

 

3,875,103

Total potentially dilutive shares

 

56,469,261

 

7,821,450

Schedule of business acquisition pro forma information

Six Months Ended

June 30,

    

2021

Net revenues

$

4,742,558

Net loss

$

(14,422,758)

Net loss per common share

$

(4.71)