Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash Flow from Operating Activities    
Net loss attributable to Vinco Ventures, Inc. $ (708,060,842) $ (10,325,756)
Net loss attributable to noncontrolling interests (8,039,914) (554,382)
Net loss from continuing operations (716,100,756) (10,880,138)
Adjustments to reconcile net loss to net cash used in operating activities:    
Discontinued operations (5,112,100) 5,172,320
Stock-based compensation 43,366,137 3,241,554
Depreciation and amortization 3,786,721 1,381,367
Reserve for bad debts 145,690
Reserve for obsolescence 900,000 166,560
Deferred tax liability 61,645
Amortization of right of use asset 114,097 579,066
Amortization of debt issuance costs 73,494,520 2,357,879
Impairment 3,741,729
Gain on divestiture of Cloud B, Inc. and Cloud B assets 4,130,579
Gain on extinguishment of debt (852,352)
Gain on sale of building (475,418)
Loss on disposal of joint venture 1,194,311
Loss on issuance of warrants 646,504,147
Change in fair value of earnout 200,000
Change in fair value of short-term investment 840,000 22,000
Change in fair value of derivative liability (94,817,672)  
Changes in assets and liabilities:    
Accounts receivable 185,701 121,535
Inventory (522,241) (48,844)
Prepaid expenses and other current assets (25,658,005) 585,075
Accounts payable 2,446,314 1,350,326
Accrued expenses and other current liabilities 15,524,537 147,501
Operating lease liabilities (114,220) (598,937)
Due to/from related party (17,051) 15,200
Net cash used in operating activities from continuing operations (47,132,603) (2,438,926)
Cash Flows from Investing Activities    
Issuance of loans held-for-investment – related parties (22,750,000)
Issuance of loans held-for-investment (3,950,000)
Purchases of property and equipment (764,721) (276,478)
Purchase of licensing agreement (1,552,500)
Purchase of influencer network (2,756,000)
Acquisitions, net of cash (see Note 3) (90,761,200) 180,489
Cash proceeds from sale of Cloud B assets 2,529,565
Cash proceeds from sale of building 808,395  
Investment in cost-method investments (1,000,000)
Net cash used in investing activities from continuing operations (118,643,961) (1,648,489)
Cash Flows from Financing Activities    
Net borrowings under line of credit 122,000,000 1,028,385
Borrowings under convertible notes payable 2,067,123
Borrowings under notes payable 73,000 1,944,479
Borrowings under notes payable – related parties 250,000
Repayments under line of credit (379,333)
Repayments under convertible notes payable (1,498,462)
Repayments under notes payable (1,147,092) (1,042,946)
Repayments under notes payable – related parties (2,714,677) (119,509)
Fees paid for financing costs (11,580,000) (157,055)
Net proceeds from exercise of warrants 243,974,948 250,000
Net proceeds from issuance of common stock 6,055,000
Repurchase of common stock (1,644,000)
Distributions (296,425)
Net cash provided by financing activities from continuing operations 353,139,384 3,924,052
Net increase (decrease) in cash and cash equivalents from continuing operations 187,362,820 15,122
Net increase (decrease) in cash and cash equivalents from discontinued operations (178,485)
Cash, cash equivalents and restricted cash – beginning of year 249,356 412,719
Cash, cash equivalents and restricted cash - end of year 187,612,176 249,356
Cash paid during the period for:    
Interest 1,049,914 218,038
Income taxes
Supplemental Non-Cash Investing and Financing Activity    
Shares issued to note holders 422,672 1,409,396
Shares issued to holder of line of credit 1,178,750
Shares issued for the acquisition of Lomotif Private Limited 8,882,500
Shares reserved for EVNT, LLC 5,300,000
Shares issued to sellers for EVNT, LLC 2,100,000
Shares issued for the acquisition of TBD Safety, LLC 4,968,250
Shares issued for the divestiture of Cloud B, Inc. 405,000
Conversions under notes payable 39,609,757 1,524,000
Issuance of warrants to note holders 463,540,305 852,277
Change in fair value of earnout (200,000) 200,000
Distribution for issuance of shares to noncontrolling interest members of Global Clean Solutions, LLC 699,000
Right of use assets 112,295
Operating lease liabilities $ (112,295)