v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets:      
Cash and cash equivalents $ 677,473 $ 1,476,850 $ 8,134,211
Accounts receivable, net 157,194 45,022
Inventories 10,439,696 11,181,806 9,607,766
Prepaid and other current assets 458,098 239,864 34,006
Total current assets 11,732,461 12,943,542 17,775,983
Goodwill 1,291,098 1,291,098
Property and equipment, net 460,764 483,878 913,097
Intangible asset, net 9,750 12,000
Right-of-use assets 3,312,207 3,404,983 3,763,295
Deferred tax asset   838,055
Deposit 60,200 60,200 77,686
TOTAL ASSETS 16,866,480 18,195,701 23,368,116
Current liabilities:      
Accounts payable 2,220,510 2,494,664 898,445
Accrued expenses 961,500 1,686,598 779,695
Deferred revenue 10,488,363 11,802,825 16,190,861
Lease liability, current 356,942 353,612 314,903
Floor plan payable 660,000 1,212,000
Other payable 1,202,481 1,364,222 1,549,863
Note payable 1,363,806  
Total current liabilities 17,253,602 18,913,921 19,733,767
Lease liability, non-current 3,284,728 3,373,571 3,727,183
Convertible notes, net of debt discount 17,238,921 14,085,932 10,654,444
Warrant liabilities, at fair value 43,333 486,559 26,283
Conversion option, at fair value 89,729 313,191 2,724
Total liabilities 37,910,313 37,173,174 34,144,401
Commitments and contingencies (Note 14)  
Redeemable preferred stock value 3 1 3
Stockholders’ deficit:      
Common stock, value 3,539 3,650 3,187
Additional paid-in capital 3,264,321 2,576,498
Other comprehensive income (10,453) (6,696)  
Accumulated deficit (24,301,243) (21,550,926) (10,779,475)
Total Stockholders’ Deficit (21,043,836) (18,977,474) (10,776,288)
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT $ 16,866,480 $ 18,195,701 $ 23,368,116