BALANCE SHEET COMPONENTS (Tables)
|
3 Months Ended |
Mar. 31, 2025 |
|---|
| Balance Sheet Related Disclosures [Abstract] |
|
| Schedule of Inventories |
Inventories, net as of March 31, 2025 and December 31, 2024 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
March 31,
2025 |
|
|
December 31,
2024 |
|
Raw materials and supplies |
|
$ |
— |
|
|
$ |
1,913,013 |
|
Work-in-process |
|
|
— |
|
|
|
161,137 |
|
Finished goods |
|
|
— |
|
|
|
613,786 |
|
Inventories, gross |
|
|
— |
|
|
|
2,687,936 |
|
Less: inventory reserve |
|
|
— |
|
|
|
(1,161,469 |
) |
Inventories, net |
|
$ |
— |
|
|
$ |
1,526,467 |
|
|
| Schedule of Property and Equipment, Net |
Property and equipment, net as of March 31, 2025 and December 31, 2024 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
March 31,
2025 |
|
|
December 31,
2024 |
|
Machinery and equipment |
|
$ |
7,203,592 |
|
|
$ |
7,203,592 |
|
Leasehold improvements |
|
|
897,948 |
|
|
|
897,948 |
|
Furniture and office equipment |
|
|
205,897 |
|
|
|
205,897 |
|
Computer equipment and software |
|
|
197,386 |
|
|
|
197,386 |
|
Property and equipment, gross |
|
|
8,504,823 |
|
|
|
8,504,823 |
|
Less: accumulated depreciation and amortization |
|
|
(4,116,543 |
) |
|
|
(3,670,094 |
) |
Less: impairment of property and equipment |
|
|
(4,388,280 |
) |
|
|
— |
|
Property and equipment, net |
|
$ |
— |
|
|
$ |
4,834,729 |
|
|
| Schedule of Prepaid Expenses and Other Current Assets |
Prepaid expenses and other current assets as of March 31, 2025 and December 31, 2024 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
March 31,
2025 |
|
|
December 31,
2024 |
|
Prepaid insurance |
|
$ |
168,063 |
|
|
$ |
123,959 |
|
Other prepaid assets |
|
|
160,623 |
|
|
|
28,521 |
|
Other current assets |
|
|
51,850 |
|
|
|
10,269 |
|
Total prepaid expenses and other current assets |
|
$ |
380,536 |
|
|
$ |
162,749 |
|
|
| Schedule of Accrued Expenses |
Accrued expenses as of March 31, 2025 and December 31, 2024 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
March 31,
2025 |
|
|
December 31,
2024 |
|
|
|
|
|
|
|
|
Accrued legal, accounting and professional fees |
|
$ |
2,648,037 |
|
|
$ |
2,448,594 |
|
Accrued transaction costs related to the reverse recapitalization |
|
|
503,599 |
|
|
|
503,600 |
|
Accrued payroll and benefits |
|
|
341,956 |
|
|
|
357,953 |
|
Accrued lease-related payables |
|
|
289,558 |
|
|
|
54,288 |
|
Accrued taxes payable |
|
|
269,147 |
|
|
|
232,966 |
|
Accrued interest |
|
|
40,325 |
|
|
|
560,501 |
|
Other |
|
|
210,020 |
|
|
|
143,293 |
|
Total accrued expenses |
|
$ |
4,302,642 |
|
|
$ |
4,301,195 |
|
|