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Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Mar. 31, 2021
Current Assets:    
Cash and cash equivalents $ 27,414,571 $ 118,341,471
Accounts receivable, net 45,653,542 8,993,920
Due from related parties 15,657 15,657
Inventories 46,466,594 15,866,918
Prepaid expenses 3,923,778 2,402,366
Total Current Assets 123,474,142 145,620,332
Equipment, net 32,368,131 21,553,226
Other Assets:    
Deposits 15,585,668 1,833,429
Licensing agreements, net 4,167 41,667
Patents, net 5,649,562 6,019,567
Other intangible assets, net 139,652,716 2,220,958
Goodwill 90,870,094 [1]
Right of use assets - operating leases 2,707,546 2,090,162
Deferred income tax asset 892,258
TOTAL ASSETS 411,204,284 179,379,341
Current Liabilities:    
Accounts payable 24,425,343 4,371,974
Factoring liability 4,097,867 1,842,188
Accrued liabilities 5,114,768 3,462,785
Inventory credit facility 194,810 1,091,098
Current portion of operating lease liability 825,343 663,784
Current portion of note payable related party 669,463 625,147
Insurance premium note payable 285,718 41,517
Total Current Liabilities 35,613,312 12,098,493
Long-term Liabilities:    
Contingent consideration payable 227,139 589,892
Notes payable related party, net of current portion 358,263 865,771
Note payable 4,000,000
Construction note payable, net of unamortized issuance costs 18,905
Operating lease liability, net of current portion 2,006,707 1,477,656
Deferred income tax liability 1,850,277
Total Liabilities 40,074,603 19,031,812
Shareholders’ Equity:    
Series A Cumulative Perpetual Preferred Stock 8.75%, ($25.00 per share, $0.001 par value) 1,400,000 shares issued and outstanding as of December 31, 2021 1,400
Common stock, $0.001 par value, 200,000,000 shares authorized 115,436,404 and 93,099,067 shares issued and outstanding at December 31, 2021 and March 31, 2021, respectively 115,437 93,100
Additional paid-in capital 382,015,310 202,073,968
Accumulated deficit (11,002,466) (41,819,539)
Total Shareholders’ Equity 371,129,681 160,347,529
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 411,204,284 $ 179,379,341
[1] Preliminary estimate of Other Intangible Assets and Goodwill. Other intangible assets consist of Tradenames, Customer Relationships, Intellectual Property, and other tangible assets related to the acquired business.