Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net loss $ (37,817,959) $ (18,812,656)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 291,287 251,886
Amortization of discount and debt issuance costs on long-term debt 850,800 1,576,005
Amortization of discount on Series B preferred stock 482,589 0
Stock-based compensation 1,213,602 803,226
Other 41,588 28,645
Change in fair value of warrants 18,935,392 (1,527,414)
Effects of changes in operating assets and liabilities:    
Lease receivable 33,863 1,016,631
Inventory, net 122,407 (316,411)
Prepaid expenses and deposits (4,538,704) 409,723
Accounts payable and accrued liabilities (3,128,203) (1,065,124)
Warranty liability (551,798) 0
Customer deposits (72,000) 309,595
Net cash used in operating activities (24,137,136) (17,325,894)
Cash flows from investing activities:    
Capital expenditures (4,001,838) (131,318)
Proceeds on disposition of property, plant and equipment 5,000 4,800
Net cash used in investing activities (3,996,838) (126,518)
Cash flows from financing activities:    
Payments on long-term debt 0 (7,841,378)
Proceeds from long-term debt 5,854,140 7,800,000
Payments of Loan Costs 0 (70,047)
Proceeds from issuance of series B preferred stock 25,000,000 0
Issuance of common stock 5,928,235 16,398,662
Exercise of warrants and options 0 90,066
Net cash provided by financing activities 36,782,375 16,377,303
Change in cash, cash equivalents and restricted cash 8,648,401 (1,075,109)
Cash, cash equivalents and restricted cash, beginning of the period 1,512,750 4,069,477
Cash, cash equivalents and restricted cash, end of the period 10,161,151 2,994,368
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 1,512,750  
Total cash, cash equivalents and restricted cash $ 1,512,750 $ 4,069,477