v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS      
Cash and cash equivalents $ 1,792,418 $ 2,056,472 $ 1,422,580
Accounts receivable, net 471,127 509,763 128,171
Inventories 7,042,303 6,445,560 4,162,218
Prepaid expenses and vendor deposits 252,331 475,088 174,970
Other current assets 199,426 29,806 56,842
TOTAL CURRENT ASSETS 10,916,856 9,706,957 5,944,781
Property, plant, and equipment, net 1,968,596 1,976,469 2,676,639
Intangible assets, net 5,144,950 5,441,478 4,178,519
Goodwill 2,212,000 2,212,000
Right of use assets 13,314,626 14,232,240 11,412,562
Other assets 528,181 543,373 467,056
TOTAL ASSETS 34,085,209 34,112,517 28,432,560
CURRENT LIABILITIES      
Accounts payable and accrued expenses 7,971,627 6,131,534 4,920,411
Contract liabilities 41,576 80,456 207,513
Current portion of loan payable 1,697,545 2,131,336 702,701
Operating lease liability, current 3,641,723 3,596,987 2,748,824
TOTAL CURRENT LIABILITIES 13,352,471 11,940,313 8,579,449
Loan payable, net of current portion 8,945,746 9,207,772 2,403,807
Operating lease liability, net of current 9,661,901 10,584,431 8,461,182
TOTAL LIABILITIES 31,960,118 31,732,516 19,444,438
COMMITMENTS AND CONTINGENCIES (SEE NOTE 15)
STOCKHOLDERS’ EQUITY      
Common Stock, value 10,566 9,816
Additional paid-in capital 3,557,842 3,101,092
Net investment by former parent 8,988,122
Accumulated deficit (1,443,317) (730,907)
TOTAL STOCKHOLDERS’ EQUITY 2,125,091 2,380,001 8,988,122
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 34,085,209 34,112,517 28,432,560
Series A Convertible Preferred Stock [Member]      
STOCKHOLDERS’ EQUITY      
Preferred Stock, value
Related Party [Member]      
CURRENT ASSETS      
Due from related party current 1,159,251 190,268
Due from related party noncurrent $ 3,753,003