Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
|
Sep. 30, 2020 |
Dec. 31, 2019 |
| Current assets |
|
|
| Cash and cash equivalents |
$ 21,230,362
|
$ 893,138
|
| Marketable investment securities |
6,050,000
|
|
| Accounts receivable, net |
10,640,417
|
131,382
|
| Inventory |
10,726,982
|
197,168
|
| Prepaid expenses |
384,642
|
362,566
|
| Deferred tax asset |
2,914,781
|
|
| Total current assets |
51,947,184
|
1,584,254
|
| Property and equipment, net |
538,279
|
196,832
|
| Investment in joint venture |
2,165,037
|
434,240
|
| Total assets |
54,650,500
|
2,215,326
|
| Current liabilities |
|
|
| Accounts payable |
250,465
|
5,959
|
| Accrued expenses |
786,063
|
200,788
|
| Accrued expenses (related party) |
120,000
|
120,000
|
| Deferred revenue |
657,925
|
1,323
|
| Total current liabilities |
1,814,453
|
328,070
|
| Accrued expenses-long-term (related party) |
60,000
|
150,000
|
| Total liabilities |
1,874,453
|
478,070
|
| Commitments and contingencies (Note 8) |
|
|
| Stockholders' equity |
|
|
| Convertible preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 and 25,600 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively |
|
26
|
| Common Stock, $0.001 par value; 100,000,000 shares authorized; 28,161,259 and 17,342,922 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively |
28,161
|
17,343
|
| Additional paid-in capital |
48,044,352
|
26,687,701
|
| Accumulated earnings (deficit) |
4,703,534
|
(24,967,814)
|
| Total stockholders' equity |
52,776,047
|
1,737,256
|
| Total liabilities and stockholders' equity |
$ 54,650,500
|
$ 2,215,326
|