Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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 $ (5,729,693) $ (3,071,841)
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:    
Stock based compensation 1,211,543 1,471,508
Warrants and shares to lender 248,011
Change in fair market value 38,094
Loss on settlement 300,000
Depreciation and amortization 589,663 324,235
Amortization of debt discount 170,910 870
Bad debt expense 16,959
PPP loan forgiveness (154,673)
Changes in operating assets and liabilities:    
Accounts receivable 44,200 (73,756)
Inventory 5,793 28,768
Prepaid expenses and deferred offering costs 17,594 (2,350)
Accounts payable and accrued expenses (161,130) 123,296
Accounts payable and accrued expenses - related party 328,060 45,119
Net cash used in operating activities (3,412,763) (816,057)
Cash flows from investing activities:    
Acquisition of fixed assets (813,283) (87,661)
Net cash used in investing activities (813,283) (87,661)
Cash flows from financing activities:    
Proceeds from Initial Public Offering 28,750,000
Initial Public Offering expenses (3,500,426)
Proceeds from issuance of common stock 115,000 1,307,209
Proceeds from issuance of debt 1,100,000 154,673
Proceeds from issuance of related party debt 1,550,000 20,000
Repayment of debt (2,172,010) (8,015)
Repayment of related party debt (1,848,399) (213,055)
Net cash provided by financing activities 23,994,165 1,260,812
Net change in cash and cash equivalents 19,768,119 357,094
Cash and cash equivalents at beginning of period 882,870 32,092
Cash and cash equivalents cash at end of period 20,650,989 389,186
Noncash investing and financing activity:    
Debt discount 170,910
Acquisition of Neighborhood Fuel 700,000
Issuance of acquisition, bonus and settlement shares 2,250,000
Vehicles acquired with notes 198,087
Shares issued for technology 2,950,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 448,071 11,398
Cash paid for taxes