NUBURU, INC.
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) |
||||||||
|
|
Three Months Ended
|
||||||
|
|
2023 |
|
2022 |
||||
Sales, net |
|
$ |
469,989 |
|
|
$ |
90,000 |
|
Cost of sales |
|
|
1,212,437 |
|
|
|
555,052 |
|
Gross margin |
|
|
(742,448 |
) |
|
|
(465,052 |
) |
Operating expenses: |
|
|
|
|
|
|
||
Research and development |
|
|
1,332,305 |
|
|
|
631,501 |
|
Selling and marketing |
|
|
176,256 |
|
|
|
348,780 |
|
General and administrative |
|
|
3,050,259 |
|
|
|
843,043 |
|
Total operating expenses |
|
|
4,558,820 |
|
|
|
1,823,324 |
|
Loss from operations |
|
|
(5,301,268 |
) |
|
|
(2,288,376 |
) |
Interest income |
|
|
32,427 |
|
|
|
582 |
|
| Other income (expense), net |
|
|
501,324 |
|
|
|
— |
|
| Loss before provision for income taxes |
|
$ |
(4,767,517 |
) |
|
$ |
(2,287,794 |
) |
| Provision for income taxes |
|
|
— |
|
|
|
— |
|
| Net loss and comprehensive loss |
|
$ |
(4,767,517 |
) |
|
$ |
(2,287,794 |
) |
| Net loss per share, basic and diluted |
|
$ |
(0.19 |
) |
|
$ |
(0.44 |
) |
| Weighted-average common shares used to compute net loss per share attributable to common stockholders, basic and diluted |
|
|
25,515,164 |
|
|
|
5,209,325 |
|
| NUBURU, INC.
Condensed Consolidated Balance Sheets (Unaudited) |
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|
|
|
March 31,
|
|
December 31,
|
||||
|
|
|
(Unaudited) |
|
|
|
|||
| ASSETS |
|
|
|
|
|
|
||
| Current assets |
|
|
|
|
|
|
||
| Cash and cash equivalents |
|
$ |
1,523,046 |
|
|
$ |
2,880,254 |
|
| Accounts receivable, net |
|
|
522,764 |
|
|
|
327,200 |
|
| Inventories, net of allowance of $411,148 and $292,990, respectively |
|
|
1,248,794 |
|
|
|
972,695 |
|
| Deferred financing costs |
|
|
— |
|
|
|
4,258,515 |
|
| Prepaid expenses and other current assets |
|
|
978,136 |
|
|
|
46,737 |
|
| Total current assets |
|
|
4,272,740 |
|
|
|
8,485,401 |
|
| Property and equipment, net |
|
|
4,012,568 |
|
|
|
3,771,849 |
|
| Construction in progress |
|
|
130,412 |
|
|
|
188,912 |
|
| Right-of-use assets |
|
|
565,662 |
|
|
|
641,651 |
|
| Other assets |
|
|
34,359 |
|
|
|
34,359 |
|
| TOTAL ASSETS |
|
$ |
9,015,741 |
|
|
$ |
13,122,172 |
|
|
|
|
|
|
|
|
|
||
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) |
|
|
|
|
|
|
||
| Current liabilities |
|
|
|
|
|
|
||
| Accounts payable |
|
$ |
4,256,822 |
|
|
$ |
4,456,587 |
|
| Accrued expenses |
|
|
2,281,559 |
|
|
|
2,312,118 |
|
| Operating lease liability |
|
|
350,606 |
|
|
|
343,049 |
|
| Contract liabilities |
|
|
173,750 |
|
|
|
178,750 |
|
| Convertible notes payable |
|
|
— |
|
|
|
7,300,000 |
|
| Total current liabilities |
|
|
7,062,737 |
|
|
|
14,590,504 |
|
| Operating lease liability, net of current portion |
|
|
282,345 |
|
|
|
373,907 |
|
| Warrant liabilities |
|
|
835,539 |
|
|
|
— |
|
| TOTAL LIABILITIES |
|
|
8,180,621 |
|
|
|
14,964,411 |
|
| Commitments and Contingencies (Note 6) |
|
|
|
|
|
|
||
| Stockholders’ Equity (Deficit) |
|
|
|
|
|
|
||
| Convertible preferred stock, $0.0001 par value; 50,000,000 shares authorized; 3,038,905 and 23,237,703 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively |
|
|
304 |
|
|
|
4,040 |
|
| Common stock, $0.0001 par value; 250,000,000 shares authorized; 33,585,544 and 5,556,857 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively |
|
|
3,359 |
|
|
|
1,077 |
|
| Additional paid-in capital |
|
|
66,791,282 |
|
|
|
59,344,952 |
|
| Accumulated deficit |
|
|
(65,959,825 |
) |
|
|
(61,192,308 |
) |
| Total Stockholders’ Equity (Deficit) |
|
|
835,120 |
|
|
|
(1,842,239 |
) |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) |
|
$ |
9,015,741 |
|
|
$ |
13,122,172 |
|
