Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
May 02, 2021
May 03, 2020
Cash Flows from Operating Activities    
Net income (loss) $ 2,060,533 $ (8,347,751)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization of property and equipment 1,956,383 1,557,289
Amortization of other intangible assets 463,321 78,371
Amortization of deferred financing fees 22,668 19,726
Equity based compensation 654,472 898,077
Deferred rent 140,298
Non-cash operating lease cost 3,546,304
Changes in operating assets and liabilities:    
Accounts receivable (2,382,219) 112,335
Merchandise inventories (5,539,420) 2,980,697
Prepaid expenses and other current assets (546,671) 2,166,595
Accounts payable and accrued expenses (8,290,368) (3,204,128)
Operating Lease Liabilities (3,400,094)
Customer deposits 1,850,693 3,085,377
Net Cash Used in Operating Activities (9,604,398) (513,114)
Cash Flows from Investing Activities    
Purchase of property and equipment (2,919,119) (2,142,086)
Payments for patents and trademarks (138,857) (205,556)
Net Cash Used in Investing Activities (3,057,976) (2,347,642)
Cash Flows from Financing Activities    
Taxes paid for net share settlement of equity awards (149,512)
Proceeds from the exercise of warrants 20,000
Proceeds from the line of credit 41,673
Payment of deferred financing costs (50,000)
Net Cash Provided by (Used in) Financing Activities 61,673 (199,512)
Net Change in Cash and Cash Equivalents (12,600,701) (3,060,268)
Cash and Cash Equivalents - Beginning 78,341,101 48,538,827
Cash and Cash Equivalents - Ending 65,740,400 45,478,559
Supplemental Cash Flow Disclosures    
Cash paid for taxes 61,000 25,029
Cash paid for interest $ 8,071 $ 16,816