v3.25.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (101,790,293) $ (123,919,189)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 7,908,468 4,063,175
Deferred revenue 1,636,250 (180,000)
Stock-based compensation 10,060,997 13,422,135
Change in inventory and prepaid purchases reserve 5,368,071 8,798,690
Non-cash lease expense 353,182 1,506,310
Change in fair value and gain on conversion of 2026 Notes and Warrants (2,937,925) 8,285,425
Non-cash fair value loss of 2024 Notes 2,941,792 0
Non-cash fair value loss of 2024 Warrants 5,778,660 0
Non-cash payment of 2023 and 2024 Notes 13,362,351 0
Original Issuance Discount - non-cash fees on 2024 Notes 4,873,214 0
Other non-cash items (485,298) (1,934,310)
Impairment of investment in Tropos 0 10,000,000
Effects of changes in operating assets and liabilities:    
Accounts receivable 2,303,879 (349,512)
Inventory, net (1,332,074) (39,294,091)
Prepaid expenses and other current assets 709,721 (890,626)
Accounts payable and accrued liabilities 4,700,219 (2,227,029)
Warranty liability (1,041,238) (305,027)
Net cash used in operating activities (47,590,024) (123,024,049)
Cash flows from investing activities:    
Capital expenditures (4,064,293) (18,687,451)
Net cash used in investing activities (4,064,293) (18,687,451)
Cash flows from financing activities:    
Proceeds on convertible notes 34,112,500 17,500,000
Payments on convertible notes (20,000,000) 0
Proceeds from issuance of common stock 7,344,487 62,155,939
Payments on finance lease (825,060) (879,444)
Exercise of options and restricted share award activity (178,587) (495,381)
Net cash provided by financing activities 20,453,340 78,281,114
Change in cash and cash equivalents (31,200,977) (63,430,386)
Cash and cash equivalents, beginning of the period 35,845,915 99,276,301
Cash and cash equivalents, end of the period 4,644,938 35,845,915
Supplemental disclosure of non-cash investing and financing activities:    
Exercise of warrants 2,847,500 0
Non-cash 2023 securities litigation settlement 0 35,000,000
Capital expenditures in Accounts Payable 2,600,771 2,161,595
Trucks transferred from inventory to fixed assets $ 1,058,725 $ 879,296

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