v3.22.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
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 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 common stock warrant liability

    

Warrant

Liability

Outstanding as of December 31, 2020

$

6,265

Change in fair value

 

11,958

Outstanding as of December 31, 2021

$

18,223

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

Conversion into shares

(73,500)

Change in fair value

 

8,764,460

Outstanding as of December 31, 2021

$

12,179,476

Summary of changed in derivative liability

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 estimated useful lives of amortizable intangible assets

Customer relationships

    

3 years

Schedule of potentially dilutive items outstanding

    

December 31, 

2021

2020

Convertible notes

4,791,192

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

 

3,580,116

 

914,539

Preferred stock warrants

 

 

806,903

Stock options

 

3,895,103

 

1,163,103

Total potentially dilutive shares

 

12,266,411

 

65,809,254