| Schedule of Accrued Expenses and Other Liabilities |
Accrued expenses and other liabilities consisted of the following for the periods indicated:
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
Accrued compensation and related liabilities |
|
$ |
1,270,051 |
|
|
$ |
1,008,278 |
|
Deferred revenue |
|
|
152,254 |
|
|
|
218,499 |
|
Customer deposits |
|
|
- |
|
|
|
26,607 |
|
Warranty reserve |
|
|
554,786 |
|
|
|
501,726 |
|
Trade and other taxes |
|
|
765,203 |
|
|
|
495,105 |
|
Other accrued expenses |
|
|
773,760 |
|
|
|
2,556,461 |
|
|
|
$ |
3,516,054 |
|
|
$ |
4,806,675 |
|
|
| Schedule of Deferred Revenue, Warranties and Deposit Balances Along with Significant Activity Affecting Balances |
The table below presents the deferred revenue, warranties and deposit balances along with the significant activity affecting balances during the six month periods ended June 30, 2025 and 2024:
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
June 30, |
|
Deferred revenue |
|
2025 |
|
|
2024 |
|
Beginning balance |
|
$ |
218,499 |
|
|
$ |
299,514 |
|
Deferral of revenue during the period |
|
|
1,309,550 |
|
|
|
52,405 |
|
Recognition of unearned revenue from beginning of period |
|
|
(173,768 |
) |
|
|
(98,816 |
) |
Recognition of unearned revenue from additions |
|
|
(1,202,027 |
) |
|
|
(1,881 |
) |
Ending balance |
|
$ |
152,254 |
|
|
$ |
251,222 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
June 30, |
|
Customer deposits |
|
2025 |
|
|
2024 |
|
Beginning balance |
|
$ |
(26,607 |
) |
|
$ |
27,447 |
|
Additions during the period |
|
|
(768,856 |
) |
|
|
3,275,864 |
|
Deposits recognized from beginning of period |
|
|
- |
|
|
|
(1,756,282 |
) |
Deposits recognized from additions |
|
|
795,463 |
|
|
|
(280,552 |
) |
Ending balance |
|
$ |
- |
|
|
$ |
1,266,477 |
|
|
|
|
|
|
|
|
|