Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ 11,570,447 $ (2,712,785)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 45,966 29,762
Stock based compensation 1,124,242 294,677
Accretion of notes payable discount 91,428
Gain on disposition of assets (850)
Loss (gain) of equity method investment (267,740) 7,000
Changes in assets and liabilities:    
Increase in accounts and other receivables (5,218,494) (42,065)
Increase in prepaid and other assets (158,614) (183,446)
Decrease (increase) in inventory (10,030,838) 9,920
Increase in deferred revenue 1,044,225
Increase (decrease) in accounts payable and accrued expenses 1,542,347 (191,332)
Net cash used in operating activities (348,459) (2,697,691)
Cash flows from investing activities:    
Purchase of property and equipment (205,290) (52,775)
Investment in joint venture (714,500) (247,000)
Net cash used in investing activities (919,790) (299,775)
Cash flows from financing activities:    
Proceeds from sale of common stock 19,470,005 5,496,002
Proceeds from sale of preferred stock 1,000,000
Proceeds from exercise of options and warrants 913,465
Payment of offering costs (1,457,922) (592,764)
Net cash provided by financing activities 18,925,548 5,903,238
Net increase in cash 17,657,299 2,905,772
Cash and cash equivalents beginning of period 893,138 950,237
Cash and cash equivalents end of period 18,550,437 3,856,009
Supplemental disclosure of cash flow information:    
Interest paid 15,000
Income taxes paid
Supplemental disclosure of non-cash investing and financing transactions:    
Inventory moved to property, plant and equipment $ 117,220