v3.25.2
STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES    
Net loss $ (23,065,795) $ (35,532,791)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 32,564 36,634
Unit-based compensation expense 38,486 99,365
Amortization of debt issuance cost 29,692 149,184
Change in fair value of derivative liabilities 7,404,768 (649,244)
Change in fair value of warrant liabilities (5,783,073) 16,371,612
Change in operating assets and liabilities:    
R&D tax credit receivable 111,944 122,013
Prepaid and other current assets (44,297) (211,971)
Inventory (1,176,296) (249,844)
Long term assets (36,333)  
Accounts payable 1,559,354 1,031,988
Accrued liabilities 21,045 1,815,775
Accrued compensation 82,275 (390,730)
Accrued federal tax liability, penalties and interest 817,776 786,468
Interest payable 5,013,043 3,595,142
Interest payable to related parties 7,112,091 6,435,287
Deferred revenue 598,700 1,023,007
Payable to affiliates 662,041 134,169
Net cash provided by (used in) operating activities (6,622,015) (5,433,936)
INVESTING ACTIVITIES    
Purchases of property, plant and equipment (1,913) (5,232)
Net cash used in investing activities (1,913) (5,232)
FINANCING ACTIVITIES    
Proceeds from loans 6,397,924 6,216,732
Loan origination fees (80,650)  
Principal payments on finance lease liabilities   (6,651)
Repayment of loans   (520,688)
Adjustment to shareholder receivables (4,113) (10,116)
Net cash provided by (used in) financing activities 6,313,161 5,679,277
Net increase (decrease) in cash during period (310,767) 240,109
Cash, beginning of period 333,084 92,975
Cash, end of period 22,317 333,084
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES    
Conversion of interest payable to debt   $ 2,661,100
349,871 series B units transferred from NACS to Taylor Freres $ 38,486