Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (78,620,308) $ (245,241,272)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,378,365 1,342,348
Change in fair value and loss on exchange of convertible notes 1,769,857 (27,600,000)
Change in fair value of Investment in LMC 0 225,429,997
Stock-based compensation 8,627,977 3,253,546
Change in inventory and prepaid purchases reserve 5,196,774 (10,919,259)
Forgiveness of PPP Term Note 0 (1,411,000)
Deferred taxes 0 (21,833,930)
Non-cash lease expense 855,119 0
Other non-cash items 175,750 0
Effects of changes in operating assets and liabilities:    
Accounts receivable (16,398,420) 1,035,715
Inventory (6,969,095) (35,118,442)
Prepaid expenses and other current assets (10,317,025) (2,220,967)
Other assets (84,401) 0
Accounts payable, accrued liabilities and other 29,650,491 3,743,729
Warranty liability (1,244,432) (508,002)
Net cash used in operating activities (65,979,348) (110,047,537)
Cash flows from investing activities:    
Capital expenditures (9,708,699) (3,803,807)
Investment in Tropos (5,000,000) 0
Net cash used in investing activities (14,708,699) (3,803,807)
Cash flows from financing activities:    
Proceeds from sale of Investment in LMC 0 105,789,310
Commissions and fees on sale of Investment in LMC 0 (662,563)
Proceeds from issuance of common stock 248,695 0
Payments on finance lease (623,648) 0
Exercise of warrants and options and restricted share award activity (466,532) (2,083,046)
Net cash provided by (used in) financing activities (841,485) 103,043,701
Change in cash and cash equivalents (81,529,532) (10,807,643)
Cash, cash equivalents and restricted cash, beginning of the period 201,647,394 241,229,067
Cash and cash equivalents, end of the period 120,117,862 230,421,424
Supplemental disclosure of non-cash activities    
Investment in Tropos in exchange for non-cash deferred revenue 5,000,000 0
Leased assets obtained in exchange for finance lease liabilities 6,022,694 0
Leased assets obtained in exchange for operating lease liabilities $ 5,024,284 $ 0