v3.20.4
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 46,817,825 $ 23,868,416
Restricted cash held in escrow (Note 1) 194,411,242 1,000,000
Accounts receivable, less allowance for credit losses of $0 at December 31, 2020 and 2019 (Note 4) 884,367 7,921
Lease receivable, current 153,099 33,100
Inventory, net (Note 2) 15,467,012 1,798,146
Prepaid expenses 32,759,216 4,812,088
Total current assets 290,492,761 31,519,671
Property, plant and equipment, net (Note 5) 11,398,166 6,830,181
Lease receivable, long-term 94,698 129,177
Total Assets 632,542,369 50,673,829
Current liabilities:    
Accounts payable 4,790,763 1,678,983
Accrued liabilities (Note 1) 5,995,302 3,408,184
Warranty liability (Note 1) 5,400,000 6,001,864
Current portion of convertible notes, at fair value (Note 6) 0 19,620,000
PPP Term Note (Note 6) 1,411,000 0
Total current liabilities 17,597,065 47,044,031
Other long-term liabilities 207,040 0
Deferred tax liability (Note 8) 21,833,930 0
Convertible notes 197,700,000 19,400,000
Mandatorily redeemable Series B preferred stock (Note 7) 0 19,142,908
Total Liabilities 237,338,035 85,586,939
Commitments and contingencies
Stockholders’ Equity (Deficit):    
Series A preferred stock, par value of $0.001 per share 75,000,000 shares authorized, zero shares issued and outstanding at December 31, 2020 and 2019 (Note 12) 0 0
Common stock, par value of $0.001 per share 250,000,000 shares authorized, 121,922,532 shares issued and outstanding at December 31, 2020 and 67,105,000 shares issued and outstanding at December 31, 2019 (Note 12) 121,923 67,105
Additional paid-in capital 504,112,442 143,826,315
Accumulated deficit (109,030,031) (178,806,530)
Total stockholders' equity (deficit) 395,204,334 (34,913,110)
Total Liabilities and Stockholders' Equity (Deficit) $ 632,542,369 $ 50,673,829

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