Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current assets    
Cash $ 457,262 $ 3,796,267
Accounts receivable 913,032 1,330,521
Inventory 1,596,593 2,505,259
Prepaid expenses and other current assets 3,882,936 3,775,055
Total current assets 6,849,823 11,407,102
Property and equipment, net 12,261,908 12,915,773
Intangible assets 12,966 262,966
Right-of-use assets 899,677 1,075,157
Security deposits 247,708 247,708
Total assets 20,272,082 25,908,706
Current liabilities    
Accounts payable 38,098,587 36,404,249
Customer deposits 1,169,758 3,098,119
Accrued expenses 5,616,938 5,793,044
Other current liabilities 1,119,031 2,279,138
Operating lease liabilities 568,531 688,188
Convertible notes payable, net 6,071,058 4,203,282
Warrants liability 153,000 551,000
Total current liabilities 52,796,903 53,017,020
Other non-current liabilities    
Operating lease, net of current portion 331,148 386,866
Total liabilities 53,128,051 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 34,825,971 issued and outstanding, as of March 31, 2023 and December 31, 2022 3,411 3,411
Additional paid in capital 12,226,940 11,107,946
Accumulated deficit (45,086,320) (38,606,537)
Total shareholders’ deficit (32,855,969) (27,495,180)
Total liabilities and shareholders’ deficit $ 20,272,082 $ 25,908,706