v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (62,269,946) $ (6,649,481)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,605 1,110
Stock-based compensation 6,214,853 373,018
Warrant expense   2,689,684
Gain on extinguishment of debt (120,810)  
Change in fair value of warrant liabilities (1,208,412)  
Change in fair value of Earnout Cash liability 763,043  
Change in fair value of embedded put   27,160
Amortization of debt discount   16,475
Non-cash interest expense 15,655 35,198
Non-cash settlement expense 21,365,641  
Non-cash consulting expense 12,775,511  
Loss on conversion of notes payable   306,641
Changes in operating assets and liabilities:    
Accounts receivable 831,390 (1,254,090)
Prepaid expenses and other assets (6,051,045) (460,586)
Accounts payable 1,853,855 1,330,175
Accrued expenses and other liabilities (594,437) 1,726,402
Net cash used in operating activities (26,423,097) (1,858,294)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of computer equipment (6,612)  
Net cash used in investing activities (6,612)  
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable   629,523
Proceeds from issuance of series B-2 Preferred stock   50,004
Proceeds from issuance of common stock, net of transaction costs 9,623,899 1,589,103
Proceeds from issuance of common stock for exercise of warrant 16,699,489  
Proceeds from issuance of common stock and warrants issued in private placement, net of issuance costs 27,358,223  
Effect of Merger, net of transaction costs 11,049,628  
Repayment of notes payable assumed in Merger (1,100,000)  
Repayment of notes payable - related party (176,474)  
Net cash provided by financing activities 63,454,765 2,268,630
Net increase in cash 37,025,056 410,336
Cash at beginning of period 1,858,513 877,421
Cash at end of period 38,883,569 1,287,757
Non-cash investing and financing activities    
Reclassification of settlement liability upon issuance of warrant 60,851,779  
Extinguishment of Paycheck Protection Program Loan 120,810  
Issuance of common stock warrants as offering costs $ 1,026,957 30,536
Conversion of notes payable into common stock   $ 3,655,461

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