| Prepaid Expenses |
Note 5 – Prepaid Expenses
At March 31, 2025 and December 31, 2024, prepaid
expenses consisted of the following:
| | |
March 31, 2025 | | |
December 31,
2024 | |
| Advances for inventory | |
$ | 527,452 | | |
$ | 605,913 | |
| Insurance | |
| 51,573 | | |
| 2,879 | |
| Deposits | |
| 14,000 | | |
| 14,000 | |
| Contract employee, related party | |
| 476,981 | | |
| 296,981 | |
| Rent, related party | |
| 31,998 | | |
| 15,985 | |
| Advertising and promotions* | |
| 859,920 | | |
| 869,920 | |
| Conferences | |
| 27,998 | | |
| 15,000 | |
| Professional fees | |
| 12,000 | | |
| 13,000 | |
| IT expenses | |
| 17,873 | | |
| 25,404 | |
| Prepaid Financing Fees | |
| 150,000 | | |
| - | |
| Miscellaneous | |
| 468 | | |
| 481 | |
| Total | |
$ | 2,170,263 | | |
$ | 1,859,563 | |
| * | During the year ended December 31, 2024, the Company bartered
inventory worth $859,920 for media credits to be used at the Company’s discretion. |
During the three months ended March 31, 2025,
the Company has entered into negotiations with lenders to refinance its debt and has paid deposits of $150,000 related to the refinancing.
|