v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets:      
Cash and cash equivalents $ 605,305 $ 1,476,850 $ 8,134,211
Accounts receivable, net 606,355 45,022
Inventories 7,918,552 11,181,806 9,607,766
Prepaid and other current assets 211,141 239,864 34,006
Total current assets 9,341,353 12,943,542 17,775,983
Goodwill 1,291,098 1,291,098
Property and equipment, net 437,257 483,878 913,097
Intangible asset, net 7,500 12,000
Right-of-use assets 3,218,074 3,404,983 3,763,295
Deferred tax asset   838,055
Deposit 60,200 60,200 77,686
TOTAL ASSETS 14,355,482 18,195,701 23,368,116
Current liabilities:      
Accounts payable 1,966,179 2,494,664 898,445
Accrued expenses 1,704,981 1,686,598 779,695
Deferred revenue 8,969,670 11,802,825 16,190,861
Lease liability, current 354,576 353,612 314,903
Floor plan payable 498,320 1,212,000
Other payables 885,325 1,364,222 1,549,863
Notes payable 1,762,699    
Total current liabilities 16,141,750 18,913,921 19,733,767
Lease liability, non-current 3,199,502 3,373,571 3,727,183
Convertible notes, net of debt discount 18,142,482 14,085,932 10,654,444
Warrant liabilities, at fair value 589 486,559 26,283
Conversion option, at fair value 1,219 313,191 2,724
Total liabilities 37,485,542 37,173,174 34,144,401
Commitments and contingencies (Note 14)  
Preferred stock, Value 2 1 3
Stockholders’ deficit:      
Common stock, value 4,758 3,650 3,187
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) (10,779,475)
Total Stockholders’ Deficit (23,130,062) (18,977,474) (10,776,288)
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT 14,355,482 18,195,701 $ 23,368,116
Series B Preferred Stock      
Stockholders’ deficit:      
Preferred stock, value  
Series C Preferred Stock      
Stockholders’ deficit:      
Preferred stock, value