v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets      
Cash and cash equivalents $ 70,937 $ 209,337 $ 2,148,700
Accounts receivable 0 0 482,279
Inventories, net of reserve   1,526,467 1,456,275
Deposit on acquisition - related party 600,000    
Deferred financing costs     50,000
Prepaid expenses and other current assets 380,536 162,749 156,255
Total current assets 1,051,473 1,898,553 4,293,509
Property and equipment, net 0 4,834,729 5,650,976
Operating lease right-of-use assets   202,411 586,164
Convertible note receivable 260,000    
Other assets   34,359 34,359
TOTAL ASSETS 1,311,473 6,970,052 10,565,008
Current liabilities      
Accounts payable 6,206,910 6,301,310 4,744,606
Accrued expenses 4,302,642 4,301,195 2,499,657
Current portion of operating lease liability 119,720 237,369 355,385
Contract liabilities 24,000 24,000 30,400
Shareholder advances 99,936 644,936  
Current portion of notes payable 5,645,824 9,242,183 2,147,992
Convertible note derivative liability   37,900  
Preferred stock liability 23,889,050    
Total current liabilities 40,288,082 20,788,893 9,778,040
Operating lease liability, net of current portion     237,369
Convertible notes payable     6,967,951
Warrant liabilities 1,315 128,615 2,238,519
TOTAL LIABILITIES 40,289,397 20,917,508 19,221,879
Commitments and Contingencies (Note 6)
Convertible preferred stock   23,889,050 23,889,050
Stockholders' Deficit      
Common Stock 8,767 2,028 [1] 92 [1]
Additional paid-in capital 99,033,289 93,968,071 [1] 64,744,838 [1]
Accumulated deficit (138,019,980) (131,806,605) (97,290,851)
Total Stockholders' Deficit (38,977,924) (37,836,506) (32,545,921)
TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT $ 1,311,473 $ 6,970,052 $ 10,565,008
[1] Amount presented as of December 31, 2023 is adjusted to reflect the 1-for-40 reverse stock split on July 23, 2024. See Note 2 – Summary of Significant Accounting Policies for additional information.