v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 70,937 $ 209,337
Inventories, net of reserve of $0 and $1,161,469 at March 31, 2025 and December 31, 2024, respectively   1,526,467
Deposit on acquisition - related party 600,000  
Prepaid expenses and other current assets 380,536 162,749
Total current assets 1,051,473 1,898,553
Property and equipment, net 0 4,834,729
Operating lease right-of-use assets   202,411
Convertible note receivable 260,000  
Other assets   34,359
TOTAL ASSETS 1,311,473 6,970,052
Current liabilities    
Accounts payable 6,206,910 6,301,310
Accrued expenses 4,302,642 4,301,195
Current portion of operating lease liability 119,720 237,369
Contract liabilities 24,000 24,000
Shareholder advances 99,936 644,936
Current portion of notes payable 5,645,824 9,242,183
Convertible note derivative liability   37,900
Preferred stock liability 23,889,050  
Total current liabilities 40,288,082 20,788,893
Warrant liabilities 1,315 128,615
TOTAL LIABILITIES 40,289,397 20,917,508
Commitments and Contingencies (Note 6)
Convertible preferred stock, $0.0001 par value; 50,000,000 shares authorized; 2,388,905 shares issued and outstanding December 31, 2024   23,889,050
Stockholders' Deficit    
Common stock, $0.0001 par value; 250,000,000 shares authorized; 48,833,664 and 20,274,238 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 8,767 2,028
Additional paid-in capital 99,033,289 93,968,071
Accumulated deficit (138,019,980) (131,806,605)
Total Stockholders' Deficit (38,977,924) (37,836,506)
TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT $ 1,311,473 $ 6,970,052