Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:      
Net loss $ (20,060,200) $ (126,575,218) $ (26,324,372)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation   368,372 193,786
Tooling expense   353,786 0
Amortization of discount and debt issuance costs on long-term debt   0 260,103
Amortization of discount on mandatorily redeemable Series B preferred stock   762,614 119,471
Change in fair value of Convertible Note and loss on conversion to common stock   96,145,019 0
Change in fair value of warrant liability   12,176,690 14,910,668
Change in fair value of investment in LMC 0 (864,900)  
Dividends for mandatorily redeemable Series B preferred stock paid in common stock   1,000,000 0
Interest on Convertible Note paid in common stock 0 988,897  
Stock-based compensation   2,029,218 876,918
Write down of inventory 22,221 0  
Effects of changes in operating assets and liabilities:      
Accounts and lease receivable   (15,348) 24,135
Inventory   (2,378,143) 313,712
Prepaid expenses   59,882 554,276
Accounts payable and accrued liabilities   296,047 (2,228,966)
Warranty liability   (1,922,095) (485,209)
Customer deposits   (179,000) (47,000)
Net cash used in operating activities   (17,754,179) (11,810,257)
Cash flows from investing activities:      
Capital expenditures   (974,115) (2,965,372)
Net cash used in investing activities   (974,115) (2,965,372)
Cash flows from financing activities:      
Proceeds from long-term debt   1,411,000 5,854,140
Proceeds from issuance of Series B preferred stock   0 25,000,000
Issuance of common stock   0 5,928,235
Exercise of warrants and options   18,646,709 0
Net cash provided by financing activities   20,057,709 36,782,375
Change in cash and cash equivalents   1,329,415 22,006,746
Cash, cash equivalents and restricted cash, beginning of the period   24,868,416 1,512,750
Cash and cash equivalents, end of the period 23,519,496 26,197,831 23,519,496
Conversion of convertible note, amount   $ 38,735,019  
Convertible Note, at fair value      
Shares issued upon conversion (in shares)   8,384,270  
Conversion of convertible note, amount   $ 22,000,000.0  
Credit risk adjustment in fair value of Convertible Note   1,100,000  
Credit Risk | Convertible Note, at fair value      
Credit risk adjustment in fair value of Convertible Note $ 0 $ 1,100,000 $ 0