Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current assets    
Cash $ 267,863 $ 3,796,267
Accounts receivable 946,466 1,330,521
Inventory 1,367,416 2,505,259
Prepaid expenses and other current assets 4,071,064 3,775,055
Total current assets 6,652,809 11,407,102
Property and equipment, net 11,206,755 12,915,773
Intangible assets 12,966 262,966
Right-of-use assets 727,234 1,075,157
Security deposits 247,708 247,708
Total assets 18,847,472 25,908,706
Current liabilities    
Accounts payable 37,856,202 36,404,249
Customer deposits 875,508 3,098,119
Accrued expenses 5,934,775 5,793,044
Other current liabilities 1,349,495 2,279,138
Operating lease liabilities 430,356 688,188
Convertible notes payable, net 7,490,834 4,203,282
Warrants liability 168,000 551,000
Total current liabilities 54,105,170 53,017,020
Other non-current liabilities    
Operating lease, net of current portion 296,879 386,866
Total liabilities 54,402,049 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 35,102,553 issued and outstanding as of June 30, 2023 and 34,825,971 issued and outstanding as of December 31, 2022 3,515 3,411
Additional paid in capital 13,537,195 11,107,946
Accumulated deficit (49,095,287) (38,606,537)
Total shareholders’ deficit (35,554,577) (27,495,180)
Total liabilities and shareholders’ deficit $ 18,847,472 $ 25,908,706