Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.22.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net Loss $ (68,155,477) $ (44,777,693)
Adjustments to reconcile net loss to cash provided (used) by operating activities    
Stock-based compensation 123,754 1,020,792
Depreciation, Depletion, Amortization and Accretion 2,867 5,043
Change in Fair Value of Derivative Liability 65,010,723 36,601,064
Amortization of debt discount 766,935 0
Equity in loss of unconsolidated entity 965,910 5,871,908
Changes in operating assets and liabilities    
Accounts Receivable 18,005 7,077
Prepaid expenses and other assets (255,750) (278,372)
Accounts Payable and Accrued Expenses 397,969 1,024,006
Net cash used in operating activities (1,125,064) (526,175)
Cash flows from investing activities:    
Loan to Viking 4,297,300 0
Net cash used in investing activities (4,297,300) 0
Cash flows from financing activities:    
Repayment of long-term debt (1,000,000) 0
Redemption of Series G preferred stock (1,375,000) 0
Redemption of Series C preferred stock (18,850,000) 0
Proceeds from long-term debt 25,000,000 0
Net cash provided by financing activities 3,775,000 0
Net decrease in cash (1,647,364) (526,175)
Cash, beginning of period 5,854,382 868,548
Cash, end of period 4,207,018 342,373
Supplemental Cash Flow Information    
Interest 6,002 0
Taxes 0 0
Supplemental disclosure of Non-Cash Investing and Financing Activities:    
Issuance of series C Preferred Stock as investment in Viking $ 0 $ 18,900,000