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Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Mar. 31, 2021
Current Assets:    
Cash and cash equivalents $ 23,281,475 $ 118,341,471
Accounts receivable, net 43,955,084 8,993,920
Due from related parties 15,000 15,657
Inventories 59,016,152 15,866,918
Prepaid expenses 3,423,925 2,402,366
Total Current Assets 129,691,636 145,620,332
Equipment, net 37,637,806 21,553,226
Other Assets:    
Deposits 11,360,322 1,833,429
Licensing agreements, net 41,667
Patents, net 5,526,218 6,019,567
Other intangible assets, net 136,300,387 2,220,958
Goodwill 90,870,094 [1]
Right of use assets - operating leases 2,791,850 2,090,162
TOTAL ASSETS 414,178,313 179,379,341
Current Liabilities:    
Accounts payable 26,817,083 4,371,974
Factoring liability 485,671 1,842,188
Accrued liabilities 6,178,814 3,462,785
Inventory credit facility 825,675 1,091,098
Current portion of operating lease liability 831,429 663,784
Current portion of note payable related party 684,639 625,147
Insurance premium note payable 41,517
Total Current Liabilities 35,823,311 12,098,493
Long-term Liabilities:    
Contingent consideration payable 204,142 589,892
Notes payable related party, net of current portion 181,132 865,771
Note payable 4,000,000
Construction note payable, net of unamortized issuance costs 38,330
Operating lease liability, net of current portion 2,091,351 1,477,656
Deferred income tax liability 1,536,481
Total Liabilities 39,874,747 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 March 31, 2022 1,400
Common stock, $0.001 par value, 200,000,000 shares authorized 116,485,747 and 93,099,067 shares issued and outstanding at March 31, 2022 and 2021, respectively 116,487 93,100
Additional paid-in capital 385,426,431 202,073,968
Accumulated deficit (11,240,752) (41,819,539)
Total Shareholders’ Equity 374,303,566 160,347,529
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 414,178,313 $ 179,379,341
[1] Other intangible assets consist of Tradenames, Customer Relationships, Intellectual Property, and other tangible assets related to the acquired business.