v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (35,109,683) $ (13,819,152)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 43,223 17,914
Equity based compensation 15,744,592 5,727,065
Change in fair value of modified options 0 666,062
Fair value of subsidiary stock issued to acquire research and development 3,174,550 0
Fair value of subsidiary stock issued to acquire research and development 1,299,795 0
Changes in operating assets and liabilities:    
Inventory (222,310) 0
Vendor deposits (470,826) 0
Prepaid expenses (299,193) (159,067)
Deposits 0 (69,764)
Accounts payable 1,615,187 (8,410)
Lease liability, net 1,320 3,387
Net cash used in operating activities (14,223,345) (7,641,965)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments of patent costs 0 (111,316)
Payment of trademark costs 0 (275)
Purchase of property and equipment (28,093) (45,241)
Net cash used in investing activity (28,093) (156,832)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 25,214,311 8,619,278
Proceeds from sale of subsidiary stock to non-controlling interest, net of issuance costs 10,592,075 0
Proceeds from exercise of options 2,229,480 444,838
Proceeds from exercise of warrants 1,034,296 4,618,487
Net cash provided by financing activities 39,070,162 13,682,603
Net increase in cash and cash equivalents 24,818,724 5,883,806
Cash and cash equivalents, beginning of the period 12,108,582 4,450,160
Cash and cash equivalents, end of the period 36,927,306 10,333,966
Cash paid during the period for interest 0 0
Cash paid during the period for income taxes 0 0
Noncash investing and financing activities:    
Dividend payable on preferred stock charged to additional paid in capital 9,317 15,409
Right-to-use assets and lease liability recorded upon adoption of ASC 842 0 422,215
Record right-to-use assets and related lease liability 0 506,276
Series C Preferred Stock [Member]    
Noncash investing and financing activities:    
Common stock issued upon conversion preferred stock and accrued dividends $ 180,341 $ 399,592

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