Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current assets    
Cash $ 1,491,856 $ 3,796,267
Accounts receivable 736,843 1,330,521
Inventory 1,229,548 2,505,259
Prepaid expenses and other current assets 4,134,425 3,775,055
Total current assets 7,592,672 11,407,102
Property and equipment, net 10,287,508 12,915,773
Intangible assets 12,966 262,966
Right-of-use assets 556,390 1,075,157
Security deposits 247,708 247,708
Total assets 18,697,244 25,908,706
Current liabilities    
Accounts payable 35,359,411 36,404,249
Customer deposits 815,527 3,098,119
Accrued expenses 6,952,521 5,793,044
Other current liabilities 1,414,764 2,279,138
Operating lease liabilities 310,177 688,188
Convertible notes payable, net 8,777,632 4,203,282
Derivative liabilities 1,150,000 551,000
Total current liabilities 54,780,032 53,017,020
Other non-current liabilities    
Operating lease, net of current portion 246,214 386,866
Total liabilities 55,026,246 53,403,886
COMMITMENTS AND CONTINGENCIES (Note 7)
SHAREHOLDERS’ DEFICIT    
Preferred stock, $0.0001 par value per share; 1,000,000 shares authorized and 0 issued and outstanding
Common stock, $0.0001 par value per share; 10,000,000 Class F shares authorized and 0 issued and outstanding
100,000,000 Class A shares authorized and 37,838,931 issued and outstanding as of September 30, 2023 and 34,825,971 issued and outstanding as of December 31, 2022 3,789 3,411
Additional paid in capital 18,434,085 11,107,946
Accumulated deficit (54,766,876) (38,606,537)
Total shareholders’ deficit (36,329,002) (27,495,180)
Total liabilities and shareholders’ deficit $ 18,697,244 $ 25,908,706