v3.25.2
CONDENSED BALANCE SHEETS - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 2,954,859 $ 3,170,743
Trade receivables, net of allowance of $0 and $0, respectively 12,821 0
Inventories, net 457,881 453,103
Prepaid and other current assets 180,615 89,472
Total current assets 3,606,176 3,713,318
Property, Plant and Equipment: 19,103,128 19,679,918
Accumulated depreciation (18,901,124) (19,446,262)
Property, Plant and Equipment, net 202,004 233,656
Other Assets:    
Operating lease right-of-use assets, net 1,615,029 1,880,372
Patents, net of accumulated amortization of $137,299 and $137,114 respectively 28,309 28,494
Equity method investment 68,440 62,187
Other non-current assets 1,271,355 1,228,399
Total other assets 2,983,133 3,199,452
Total Assets 6,791,313 7,146,426
Current Liabilities:    
Accounts payable 552,544 449,437
Related party payables 5,769 5,769
Accrued expenses 157,568 246,159
Accrued payroll 205,732 192,856
Accrued professional services fees 83,104 222,704
Accrued interest 589,957 565,773
Current portion of operating lease liability 625,906 578,153
Bridge loan   19,555
Total current liabilities 2,220,580 2,280,406
Long-Term Liabilities:    
Non-current operating lease liabilities 1,136,669 1,464,872
Accrued warranty liability   21,225
Total liabilities 3,357,249 3,766,503
Commitments and contingencies (Note 15)
Stockholders’ Equity (Deficit):    
Series A preferred stock, $.0001 par value; 750,000 shares authorized; 48,100 and 48,100 shares issued and outstanding, respectively ($972,154 and $947,971 Liquidation Preference, respectively) 5 5
Common stock, $0.0001 par value, 200,000,000 authorized; 2,684,651 and 1,454,896 shares issued and outstanding, respectively 268 145
Additional paid in capital 498,769,440 494,983,561
Accumulated deficit (495,348,403) (491,608,710)
Accumulated other comprehensive loss 12,754 4,922
Total stockholders' equity 3,434,064 3,379,923
Total Liabilities and Stockholders' Equity $ 6,791,313 $ 7,146,426