v3.25.2
Unaudited Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 605,305 $ 1,476,850
Accounts receivable, net 606,355 45,022
Inventories 7,918,552 11,181,806
Prepaid and other current assets 211,141 239,864
Total current assets 9,341,353 12,943,542
Goodwill 1,291,098 1,291,098
Property and equipment, net 437,257 483,878
Intangible asset, net 7,500 12,000
Right-of-use assets 3,218,074 3,404,983
Deposit 60,200 60,200
TOTAL ASSETS 14,355,482 18,195,701
Current liabilities:    
Accounts payable 1,966,179 2,494,664
Accrued expenses 1,704,981 1,686,598
Deferred revenue 8,969,670 11,802,825
Lease liability, current 354,576 353,612
Floor plan payable 498,320 1,212,000
Other payables 885,325 1,364,222
Notes payable 1,762,699
Total current liabilities 16,141,750 18,913,921
Lease liability, non-current 3,199,502 3,373,571
Convertible notes, net of debt discount 18,142,482 14,085,932
Warrant liabilities, at fair value 589 486,559
Conversion option, at fair value 1,219 313,191
Total liabilities 37,485,542 37,173,174
Commitments and contingencies (Note 14)
Series A preferred stock, $0.0001 par value, 20,000,000 authorized shares; 15,000 and 6,500 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 2 1
Stockholders’ deficit:    
Common stock, $0.0001 par value, 1,000,000,000 authorized shares; 47,582,259 shares and 36,499,662 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 4,758 3,650
Additional paid-in capital 5,445,078 2,576,498
Other comprehensive income (8,361) (6,696)
Accumulated deficit (28,571,537) (21,550,926)
Total Stockholders’ Deficit (23,130,062) (18,977,474)
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT 14,355,482 18,195,701
Series B Preferred Stock    
Stockholders’ deficit:    
Preferred stock value
Series C Preferred Stock    
Stockholders’ deficit:    
Preferred stock value