Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2022
Jun. 30, 2022
Dec. 31, 2021
Jun. 30, 2021
Dec. 31, 2022
Dec. 31, 2021
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES              
Net loss $ 15,175,701 $ (2,200,176) $ (33,366,545) $ (2,562,743) $ (11,552,820) $ (38,778,923)  
Adjustments to reconcile net loss to net cash used in operating activities              
Depreciation expense         1,349,838 586,409  
Amortization expense         1,102,500 514,000  
Amortization of debt discount 843,494   340,000   5,019,883 576,364  
Change in fair value of derivative liability (17,738,000)     (811,000)  
Change in fair value of warrant liability (1,155,000)   137,000   (3,031,000) 137,000 $ (1,987,000)
Change in fair value of promissory notes         1,594,515  
Financing costs         1,502,953  
Gain on extinguishment of debt         (1,883,089)  
Loss due to fire 6,262     869,379  
Forgiveness of PPP loan     (103,200)  
Gain on Vero Blue note settlement         (500,000)  
Legal settlement         29,388,000  
Shares issued for services         99,124 398,831  
Changes in operating assets and liabilities:              
Accounts receivable         6,883  
Inventory         (32,759) (28,128)  
Prepaid expenses and other current assets         1,021,406 (321,162)  
Deferred offering costs         (126,963)  
Accounts payable         724,360 (5,637,796)  
Other accrued expenses         92,560 (101,896)  
Accrued expenses - related parties         200,000  
Accrued interest         1,662,647 (49,482)  
Accrued interest - related parties         9,772 16,000  
Cash used in operating activities         (3,884,764) (12,201,031)  
CASH FLOWS FROM INVESTING ACTIVITIES              
Cash paid for fixed assets         (2,430,186) (2,116,124)  
Cash received for fire damage to fixed assets         700,000  
Cash paid for patent acquisition with F & T         (2,000,000)  
Cash paid for acquisition of shares of NCI         (1,000,000)  
Cash paid for License Agreement         (2,350,000)  
Cash paid for construction in process         (433,389)  
Cash used in investing activities         (1,730,186) (7,899,513)  
CASH FLOWS FROM FINANCING ACTIVITIES              
Payments on bank loan         (214,852)  
Payments of notes payable         (72,000) (72,000)  
Payments on notes payable, related party         (655,750)  
Repayment of short-term promissory note and lines of credit         (227) (553,577)  
Proceeds from issuance of common shares under equity agreement         17,277,123  
Proceeds from sale of stock         1,380,000  
Proceeds from promissory note         1,465,000  
Proceeds from promissory note, related parties         250,000  
Proceeds from convertible debentures         8,905,000  
Proceeds from convertible debentures, receipt from escrow         1,500,000  
Escrow account in relation to the proceeds from promissory notes         (500,000) 5,000,000  
Payments on  convertible debentures         (421,486)  
Payments on  notes payable         (4,500,000)  
Proceeds from sale of Series E Preferred Shares         1,348,000  
Redemption of Series D Preferred Shares         (3,513,504)  
Shares issued upon exercise of warrants         11,000  
Cash provided by financing activities         4,022,773 22,609,954  
NET CHANGE IN CASH         (1,592,176) 2,509,411  
CASH AT BEGINNING OF YEAR   $ 1,734,040   $ 155,795 1,734,040 155,795 155,795
CASH AT END OF YEAR $ 141,864   $ 2,665,206   141,864 2,665,206 $ 1,734,040
INTEREST PAID         1,829,570 212,190  
Supplemental Disclosure of Non-Cash Investing and Financing Activities:              
Construction in process transferred to fixed assets         1,041,371  
Shares issued upon conversion of convertible debentures         421,486  
Shares issued upon conversion of Preferred stock         1,560,000  
Cancellation of Right of Use asset and Lease liability         $ 275,400  
Shares issued as consideration for Rights Agreement         4,762,376  
Shares issued as consideration for Patent acquisition         $ 5,000,000  
Shares issued as consideration for acquisition of remaining NCI         $ 2,000,000