General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2020
Dec. 31, 2021
Jun. 30, 2020
Cash flows from operating activities:          
Net loss $ (21,952,893) $ (6,457,703) $ (16,219,296) $ (31,328,711) $ (14,422,070)
Adjustment to reconcile net loss to net cash used in operating activities:          
Equity in losses of investment 3,782 12,643 7,564 3,692
Bad debt 174,794 (10,516) 72,832 556,890 1,094,507
Stock-based compensation expense 304,237 503,379 1,197,589 2,070,359 1,166,130
Loss on write off of fixed assets     1,045,179
Gain on forgiveness of PPP loan     (2,234,730)
Amortization of deferred contract cost 113,251 118,519 228,766 492,683
Non-cash interest expense 769,773 32,727 1,009,331
Depreciation and amortization 1,993,391 1,052,882 2,007,237 5,735,150 1,315,898
Foreign currency loss (gain) 5,596 (18,801) (3,312)
Impairment of long-lived assets 15,478,521 6,887,000 14,383,310
Gain on debt extinguishment     (186,177)
Loss on sale of fixed asset     84,835
Debt issuance costs     1,177,390
Change in fair value of convertible notes 1,433,000 1,991,272 961,273 1,365,904 (766,000)
Change in fair value of derivative liability (18,051) 175,996 (746,852) (248,198) (1,962,034)
Change in fair value of contingent consideration     (993,000) (998,000)
Changes in operating assets and liabilities:          
Accounts receivable (1,335,939) (177,832) 1,008,775 849,785 (1,621,262)
Prepaid expenses and other current assets 178,869 236,339 (689,729) (8,988) (592,807)
Other assets     41,925 (58,925)
Accounts payable, accrued expenses and other current liabilities     (2,498,375) 1,610,470 1,602,751
Accounts payable and accrued liabilities 445,969 152,455      
Deferred tax liabilities (110,107) (2,274,295)
Deferred revenue (296,032) 286,637 (94,088) (1,010,118) (286,922)
Net cash used in operating activities (3,585,394) (1,373,818) (8,705,738) (8,167,904) (14,347,652)
Cash flows from investing activities:          
Developed software additions (647,022) (704,637) (1,847,710) (5,427,230) (3,102,728)
Net cash used in investing activities (647,022) (704,637) (7,139,047) (10,485,085) (3,598,084)
Furniture, fixtures, and equipment additions     (12,203) (39,263) (156,636)
Cash paid for business combinations, net of cash acquired     (5,279,134) (5,018,592) (88,720)
Investment in equity method investee     (250,000)
Cash flows from financing activities:          
Value of shares withheld related to tax withholdings (5,615) (333,847) (520,395)
Net cash used in financing activities (5,615) (333,847) 9,532,380 14,736,252 20,234,275
Proceeds from stock offering, net     1,828,119
Proceeds from the issuance of long term debt     18,000,000 17,164,600
Payments of principal amounts of debt    
Payments on debt     (1,500,000) (4,571,472)
Cash paid for debt issuance costs     (1,177,390)
Proceeds from the exercise of warrants     4,247,065
Proceeds from the issuance of common stock     12,000,000
Offering costs from the issuance of common stock     (967,620)
Effect of exchange rate changes on cash and restricted cash (8,544) (1,579) (2,783) 18,623
Net change in cash and restricted cash (4,246,575) (2,413,881) (6,315,188) (3,898,114) 2,288,539
Cash and restricted cash - beginning of period 14,442,526 18,340,640 24,655,828 18,340,640 22,367,289
Cash and restricted cash - end of period 10,195,951 15,926,759 18,340,640 14,442,526 24,655,828
Cash paid for interest 150,000 507,941
Cash paid for taxes 5,210 10,570
Supplemental Disclosure of non-cash investing and financing activity:          
Settlement of convertible notes in common stock 3,300,000 8,467,292 327,273 11,610,586
Conversion of exchangeable shares to common stock 18,620 7,803,475 4,798,271 18,038,944
Adjustment to Trellis purchase price allocation     14,300
Settlement of other liabilities in common stock 45,065 377,325 430,015
Shares issued in connection with an asset purchase     8
Assets acquired and liabilities assumed in business combinations:          
Cash     445,269 527,346
Accounts receivable     917,205 1,041,912 77,505
Prepaid expenses and other current assets     596,233 408,973 27,860
Fixed assets     1,326,996 93,365 2,410
Intangible assets     3,795,000 16,933,000 8,010,000
Goodwill     25,805,615 19,451,464 20,254,309
Accounts payable and accrued liabilities     805,114 1,174,961 1,441,062
Deferred tax liabilities     2,949,586
Deferred revenue     549,311 4,301,514 31,220
Contingent consideration     604,000 6,300,000 1,387,000
Stock-based compensation capitalized as software development 12,618 100,951 36,915 87,104
Acquisition of noncontrolling interest     4,695,437
Adjustments due to the adoption of ASC 606     185,826
Vesting of restricted stock units 4 15 42
Capitalized software included in accrued expenses 1,114,108 189,198 554,127
Special voting preferred stock issued in business combination     $ 25,203,490
Fixed asset purchases accrued or in accounts payable 24,614      
Shares returned in connection with 365 Cannabis acquisition 940,000      
365 Cannabis working capital funds released from accrued expenses 160,000      
365 Cannabis working capital adjustment funds recorded in other current assets $ 400,000