v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 11,793,028 $ 2,193,573
Restricted cash 105,000 105,000
Certificate of deposit 2,007,083 0
Accounts receivable, net of allowance for doubtful accounts of $108,527 and $99,233 at June 30, 2025 and December 31, 2024, respectively 199,831 88,247
Inventory 492,633 1,455,477
Inventory deposits 982,763 191,156
Prepaid expenses and other current assets 969,483 1,032,699
Total current assets 16,549,821 5,066,152
Long-term assets:    
Property, equipment, and intangible asset, net 583,519 221,836
Other long-term assets 273,886 199,281
Right-of-use assets - operating leases 529,589 739,234
Total assets 17,936,815 6,226,503
Current liabilities:    
Accounts payable 191,432 385,326
Accrued liabilities 957,438 1,379,191
Vendor settlements - short-term 1,838,151 2,092,975
Current portion of notes payable 7,602 7,181
Warrant liabilities 146,468 111,658
Right-of-use operating lease liabilities - short-term 468,400 443,950
Customer deposits 22,548 216,522
Total current liabilities 3,632,039 4,636,803
Notes payable, net of current portion 24,623 28,533
Vendor settlements - long-term 368,905 1,189,184
Right-of-use operating lease liabilities - long-term 91,349 331,222
Total liabilities 4,116,916 6,185,742
COMMITMENTS AND CONTINGENCIES  
Stockholders’ equity:    
Preferred stock: $0.00001 par value, 5,000,000 shares authorized, 25,000 shares designated, no shares issued and outstanding as of June 30, 2025 and December 31, 2024 0 0
Common stock: $0.00001 par value, 250,000,000 shares authorized, 533,008 shares issued and outstanding as of June 30, 2025 and 78,859 shares issued and outstanding as of December 31, 2024 6 1
Treasury stock (510,907) 0
Additional paid-in capital 187,007,574 166,357,207
Accumulated deficit (172,676,774) (166,316,447)
Total stockholders’ equity 13,819,899 40,761
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 17,936,815 $ 6,226,503