v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (20,644,134) $ (29,155,787)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,982,482 1,960,844
Stock-based compensation 751,401 3,370,204
Change in inventory and prepaid purchases reserve 253,432 2,074,785
Non-cash lease expense 366,740 111,363
Non-cash change in fair value loss of convertible notes 2,152,418 (3,427,534)
Non-cash change in fair value of warrants (716,960) 3,769,648
Non-cash payment of convertible notes 1,073,465 2,800,000
Original issuance discount - non-cash fees on convertible notes 4,812,500 1,125,000
Effects of changes in operating assets and liabilities:    
Accounts receivable 508,272 2,702,322
Inventory, net 276,658 (6,470,772)
Prepaid expenses and other current assets 149,351 (36,216)
Accounts payable and accrued liabilities 860,638 4,540,735
Deferred revenue 0 (24,750)
Warranty liability 20,147 (1,303,420)
Net cash used in operating activities (8,153,590) (17,963,578)
Cash flows from investing activities:    
Capital expenditures (17,866) (3,025,775)
Net cash used in investing activities (17,866) (3,025,775)
Cash flows from financing activities:    
Proceeds from convertible notes 33,687,500 0
Payments on convertible notes 0 (12,125,000)
Proceeds from issuance of common stock 406,963 4,366,649
Payments on finance lease 0 (206,265)
Exercise of options and restricted share award activity 23,393 (163,516)
Net cash provided by (used in) financing activities 34,117,856 (8,128,132)
Change in cash and cash equivalents and restricted cash 25,946,400 (29,117,485)
Cash and cash equivalents and restricted cash, beginning of the period 4,644,938 35,845,915
Cash and cash equivalents and restricted cash, end of the period $ 30,591,338 $ 6,728,430

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