v3.25.2
Unaudited Condensed Consolidated Statement of Cash Flows - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:        
Net (loss) income $ (2,750,317) $ (2,859,862) $ (10,771,451) $ (1,178,906)
Adjustments to reconcile net income to net cash provided by (used in) operating activities        
Depreciation and amortization expense 25,364 42,752 126,791 148,763
Gain on forgiveness of payable     319,900
Amortization of right-to-use asset     358,312 330,110
Change in fair value of warrant liabilities (476,583) 165,361 433,725
Change in fair value of conversion option liabilities (272,479) 60,666    
Noncash lease expense 92,776 87,735    
Income tax (benefit) expense (400,000) 532,280 838,055 (838,055)
Amortization of debt discount 802,748 434,308 1,928,576 72,335
Share-based compensation 712,714 117,500 331,959
Provision for credit losses 9,295 31,484 123,562
Paid in kind interest 994,856      
Changes in operating assets and liabilities:        
Accounts receivable (121,467) (71,921) (76,506) 491,993
Other receivable     209,810
Inventories 742,110 (64,712) (1,220,602) (1,813,841)
Prepaid and other current assets (218,234) (312,651) (205,858) (25,571)
Deferred tax asset     838,055 (838,055)
Deposit     17,486 (1,700)
Accounts payable (274,154) 40,929 1,509,157 199,536
Accrued expenses (725,098) 808,647 1,449,977 536,944
Deferred revenue (1,314,462) (1,582,323) (4,388,036) (1,302,767)
Other payable 213,259 122,012 (335,641) 1,299,337
Lease liability (85,513) (75,692) (314,903) (247,492)
Net cash used in operating activities (3,045,185) (2,554,971) (9,763,088) (1,995,942)
Cash flows from investing activities:        
Proceeds from sale of asset     6,718
Purchase of assets (18,920) (23,764) (499,316)
Net cash used in investing activities (18,920) (17,046) (499,316)
Cash flows from financing activities:        
Repayment of loan payable     (500,000)
Repayment of floor plan payable (870,400) (1,675,000)
Proceeds from floor plan payable 318,400 2,887,000
Proceeds from convertible note 1,724,100 1,154,681 13,700,000
Proceeds from note payable 1,575,000    
Debt issuance costs (347,055) (382,212) (3,088,884)
Assets and liabilities assumed from Business Combination     (762,710)
Issuance of preferred and common shares, net of issuance costs     1,145,000 95,537
Cash distributed to stockholders     (2,329,357)
Repayment of note payable (150,480)    
Net cash provided by financing activities 2,249,565 3,129,469 7,114,586
Effect of translation changes on cash (3,757) (6,696)
Net (decrease) increase in cash and cash equivalents (799,377) (2,573,891) (6,657,361) 4,619,328
Cash and cash equivalents, beginning of year 1,476,850 8,134,211 8,134,211 3,514,883
Cash and cash equivalents, end of year 677,473 5,560,320 1,476,850 8,134,211
Supplemental cash flow disclosure:        
Cash paid for interest 176,277 112,737 1,812,295 95,681
Supplemental disclosure of noncash cash flow information        
Transfer of property and equipment to inventory     325,474
Initial classification of warrant liabilities 33,357 26,551 26,283
Initial classification of conversion option liability 49,017 105,981 2,724
Assets and liabilities acquired with the business combination     1,250,000
Conversion of preferred shares into common shares     185
Paid in kind interest on convertible note     862,974
Record right-to-use asset and lease liability per ASC 842     196,797 196,797
Issuance of common stock 50    
Reversal of conversion of redeemable preferred stock into common stock $ (185)    
Previously Reported        
Adjustments to reconcile net income to net cash provided by (used in) operating activities        
Change in fair value of derivatives     $ 638,212