v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 709,322 $ 530,110
Restricted cash 500,000
Accounts receivable, net of allowance for doubtful accounts of $312,983 and $138,331 as of December 31, 2023 and, 2022, respectively 701,377 2,758,406
Inventories, net 9,952,647 25,415,206
Prepaid expenses and other current assets 35,768 360,735
Total current assets 11,399,114 29,564,457
Equipment, net 432,505 636,973
Operating lease right-of-use assets 22,512 173,480
Intangible assets, net 33,247 73,301
Other assets 472,587 511,795
Total assets 12,359,965 30,960,006
Current liabilities    
Bank credit line 4,758,663
Accounts payable 11,143,693 2,837,191
Current maturities of bridge loan agreement 1,000,000
Current maturities of operating lease liabilities 22,512 150,968
Accrued expenses 1,077,843 4,440,724
Deferred revenue, current 633,542
Total current liabilities 12,244,048 13,821,088
Operating lease liabilities, less current maturities 22,512
Deferred revenue, noncurrent 771,738
Total Liabilities 12,244,048 14,615,338
Stockholders’ equity    
Preferred Stock, Authorized: 2,000,000 shares at $0.001 par value; 0 shares issued and outstanding
Common Stock: Authorized: 60,000,000 shares at December 31, 2023 and 2022, at $0.01 par value; issued and outstanding: 2,789,020 shares and 1,877,970 shares at December 31, 2023 and 2022, respectively 480,897 469,492
Additional paid-in capital 92,103,798 90,710,030
Accumulated deficit (92,468,778) (74,834,854)
Total stockholders’ equity 115,917 16,344,668
Total liabilities and stockholders’ equity $ 12,359,965 $ 30,960,006