Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash and cash equivalents $ 12,478,433 $ 17,787,159
Restricted certificate of deposit 250,375 250,375
Short-term investments   4,959,263
Accounts receivable, net 2,634,644 1,622,434
Inventories 11,013,569 6,666,912
Contract assets 323,931 573,895
Prepaid expenses 5,392,527 5,046,599
Other current assets 54,384 56,410
Total Current assets 32,147,863 36,963,047
Property and equipment, net 16,950,015 15,167,367
Operating lease right-of-use asset 256,389 317,208
Other assets 140,197 155,490
Total assets 49,494,464 52,603,112
Current Liabilities:    
Accounts payable 2,607,473 324,484
Accrued liabilities 3,656,268 3,142,977
Operating lease liabilities - current 347,392 410,158
Total Current Liabilities 6,611,133 3,877,619
Warrant liabilities 34,925,245 32,688,342
Operating lease liabilities - long-term 6,251 87,214
Notes payable - long-term, net of discount 16,829,983 15,922,118
Total Liabilities 58,372,612 52,575,293
Commitments and Contingencies
Stockholders’ Equity (Deficit):    
Common stock, $0.0001 par value; 625,000,000 shares authorized, 47,281,275 and 47,250,771 shares issued, respectively, and 47,281,275 and 47,250,771 shares outstanding, respectively 4,728 4,725
Additional paid-in capital 69,402,246 68,128,196
Accumulated deficit (78,285,122) (68,105,102)
Total Stockholders’ Equity (Deficit) (8,878,148) 27,819
Total Liabilities and Stockholders’ Equity (Deficit) $ 49,494,464 $ 52,603,112