v3.22.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 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, 2022 Using:

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities:

Warrant liability

$

$

$

$

Contingent consideration

 

 

 

18,597,831

 

18,597,831

Derivative liability

1,690,807

1,690,807

$

$

$

20,288,638

$

20,288,638

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

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

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 acquisition-related contingent consideration

    

Contingent

Consideration

Liability

Outstanding as of December 31, 2021

$

12,179,476

Change in fair value

 

6,418,355

Outstanding as of September 30, 2022

$

18,597,831

Bailey

    

$

10,698,475

Harper & Jones

 

7,899,356

$

18,597,831

    

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

Conversion into shares

(73,500)

Change in fair value

 

8,764,460

Outstanding as of December 31, 2021

$

12,179,476

Schedule of changes in derivative liability

Derivative

    

Liability

Outstanding as of December 31, 2021

$

2,294,720

Issuane of convertible notes

559,957

Conversion of underlying notes into common stock

(369,393)

Change in fair value

 

(794,477)

Outstanding as of September 30, 2022

$

1,690,807

Derivative

    

Liability

Outstanding as of December 31, 2020

$

Initial fair value on issuance of convertible note

 

3,204,924

Change in fair value

 

(910,204)

Outstanding as of December 31, 2021

$

2,294,720

Schedule of inventory

September 30,

    

December 31,

    

2022

2021

Raw materials

$

435,025

$

292,167

Work in process

 

256,078

 

242,673

Finished goods

 

1,964,248

 

2,220,519

Inventory

$

2,655,352

$

2,755,358

 
Schedule of potentially dilutive items outstanding

    

September 30, 

2022

    

2021

Convertible notes

 

1,177,305

 

22,404

Series A convertible preferred stock

108

Common stock warrants

 

132,114

 

35,913

Stock options

 

38,951

 

38,751

Total potentially dilutive shares

 

1,348,477

 

97,069

    

December 31, 

2021

    

2020

Convertible notes

497,912

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

 

35,801

 

9,145

Preferred stock warrants

 

 

806,903

Stock options

 

38,951

 

11,631

Total potentially dilutive shares

 

122,664

 

63,752,389