v3.25.2
Condensed Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 4,005,000 $ 7,650,000
Accounts receivable 162,000 115,000
Inventory, net of reserve for obsolescence of $87,000 and $49,000, respectively 1,035,000 913,000
Prepaid expenses and other current assets 305,000 274,000
Total Current Assets 5,507,000 8,952,000
Property and equipment, net 867,000 716,000
Right-of-use asset, net 102,000 34,000
Software licensing agreement, net 42,000 59,000
Deposits 5,000 5,000
Total Assets 6,523,000 9,766,000
Current Liabilities:    
Accounts payable and accrued expenses 1,148,000 572,000
Lease liability, current 37,000 34,000
Software licensing obligation, current 54,000 54,000
Warrant Liability 835,000 14,261,000
Total Current Liabilities 2,074,000 14,921,000
Lease obligations – noncurrent 65,000
Software licensing fee obligation, net of current 4,000 32,000
Total Liabilities 2,143,000 14,953,000
Commitments and Contingencies
Stockholders’ Equity (Deficiency):    
Preferred stock $.01 par value, 5,000,000 shares authorized, no shares issued and outstanding, respectively
Common stock, $.01 par value, 45,000,000 shares authorized, 4,516,136 and 297,184, shares issued and outstanding, respectively 45,000 3,000
Treasury Stock, 200,400 shares (500,000)
Additional paid-in-capital 28,949,000 16,879,000
Accumulated deficit (24,114,000) (22,069,000)
Total Stockholders’ Equity (Deficiency) 4,380,000 (5,187,000)
Total Liabilities and Stockholders’ Equity (Deficiency) $ 6,523,000 $ 9,766,000