Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.21.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 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 June 30, 2021 Using:

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities:

Warrant liability

$

$

78,710

$

$

78,710

Contingent consideration

 

 

 

6,539,417

 

6,539,417

$

$

78,710

$

6,539,417

$

6,618,127

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

 

72,445

Outstanding as of June 30, 2021

$

78,710

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

 

3,050,901

Balance as of June 30, 2021

$

6,539,417

Schedule of property, equipment, and software

    

June 30, 

    

December 31, 

2021

2020

Computer equipment

$

6,339

$

57,810

Furniture and fixtures

 

184,701

 

207,140

Leasehold improvements and showrooms

 

444,951

 

69,274

 

635,991

 

334,224

Accumulated depreciation

 

(574,362)

 

(334,224)

Property and equipment, net

$

61,629

$

Software

$

233,737

$

278,405

Accumulated amortization

 

(175,549)

 

(216,092)

Software, net

$

58,188

$

62,313

Schedule of estimated useful lives of amortizable intangible assets

Customer relationships

    

3 years

Schedule of potentially dilutive items outstanding

    

June 30, 

2021

2020

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

 

3,946,348

 

572,845

Preferred stock warrants

 

 

806,903

Stock options

 

3,875,103

 

1,084,215

Total potentially dilutive shares

 

7,821,451

 

65,388,673