v3.25.2
Condensed Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
   Cash and cash equivalents $ 2,605,332 $ 2,491,964
   Accounts receivable, net 1,772,263 1,588,095
   Inventories, net 4,843,922 4,941,500
   Prepaid expenses and other current assets 574,274 430,719
   Deferred cost on shipments to distributors 144,717 142,939
      Total current assets 9,940,508 9,595,217
Property and equipment:    
   Machinery and office equipment 2,876,819 2,776,992
   Computer equipment 3,822,127 3,732,733
  6,698,946 6,509,725
   Accumulated depreciation (4,340,652) (3,722,424)
      Property and equipment, net 2,358,294 2,787,301
Intangible assets, net 1,368,425 1,432,073
Other long-term assets 285,911 263,634
Deferred tax assets 10,663,419 10,663,419
Operating lease right-of-use asset 2,348,698 2,604,137
      Total assets 26,965,255 27,345,781
Current liabilities:    
   Accounts payable and accrued expenses 1,255,112 1,298,165
   Accrued payroll and related expenses 595,302 678,768
   Deferred revenue on shipments to distributors 374,141 392,543
   Short term portion of deferred service revenue 18,444 17,886
   Subordinated convertible notes payable, net of discount 400,000 150,000
   Subordinated convertible notes payable, net of discount-related party 5,075,715 3,818,424
   Operating lease – current portion 553,254 532,027
      Total current liabilities 8,271,968 6,887,813
Long-term portion of deferred service revenue 11,808 12,839
Long-term portion of operating lease 2,005,950 2,284,634
   Total liabilities 10,289,726 9,185,286
Commitments and contingencies
Stockholders’ equity:    
Common Stock, Value, Issued 7,959 7,606
   Additional paid-in capital 69,666,763 69,365,801
   Treasury stock (1,037,988) (1,037,988)
   Accumulated deficit (51,961,205) (50,174,924)
      Total stockholders’ equity 16,675,529 18,160,495
         Total liabilities and stockholders’ equity $ 26,965,255 $ 27,345,781