Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 230,421,424 $ 46,817,825
Restricted cash held in escrow 0 194,411,242
Accounts and lease receivable, less allowance for credit losses of zero at September 30, 2021 and December 31, 2020, respectively 96,449 1,132,164
Inventory, net 61,504,713 15,467,012
Prepaid expenses 34,615,183 32,759,216
Other current assets 365,000 0
Total current assets 327,002,769 290,587,459
Property, plant and equipment, net 13,859,625 11,398,166
Investment in LMC 0 330,556,744
Total Assets 340,862,394 632,542,369
Current liabilities:    
Accounts payable 6,020,838 4,790,763
Accrued liabilities and other 8,508,956 5,995,302
Warranty liability 4,891,998 5,400,000
Current portion of convertible notes, at fair value 155,508,750 0
PPP Term Note 0 1,411,000
Total current liabilities 174,930,542 17,597,065
Other long-term liabilities 207,040 207,040
Deferred tax liability 0 21,833,930
Convertible notes, at fair value 24,791,250 197,700,000
Total Liabilities 199,928,832 237,338,035
Commitments and contingencies
Stockholders’ Equity:    
Series A preferred stock, par value $0.001 per share, 75,000,000 shares authorized, zero shares issued and outstanding as of September 30, 2021 and December 31, 2020 0 0
Common stock, par value $0.001 per share, 250,000,000 shares authorized, 123,622,875 shares issued and outstanding as of September 30, 2021 and 121,922,532 shares issued and outstanding as of December 31, 2020 123,623 121,923
Additional paid-in capital 505,281,242 504,112,442
Accumulated deficit (354,271,303) (109,030,031)
Accumulated other comprehensive loss (10,200,000) 0
Total stockholders’ equity 140,933,562 395,204,334
Total Liabilities and Stockholders’ Equity $ 340,862,394 $ 632,542,369