BALANCE SHEET COMPONENTS (Tables)
|
6 Months Ended |
12 Months Ended |
Jun. 30, 2025 |
Dec. 31, 2024 |
| Balance Sheet Related Disclosures [Abstract] |
|
|
| Schedule of Inventories |
Inventories, net as of December 31, 2024 consisted of the following:
|
|
|
|
|
|
|
December 31,
2024 |
|
Raw materials and supplies |
|
$ |
1,913,013 |
|
Work-in-process |
|
|
161,137 |
|
Finished goods |
|
|
613,786 |
|
Inventories, gross |
|
|
2,687,936 |
|
Less: inventory reserve |
|
|
(1,161,469 |
) |
Inventories, net |
|
$ |
1,526,467 |
|
|
Inventories, net as of December 31, 2024 and 2023 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, |
|
|
|
2024 |
|
|
2023 |
|
Raw materials and supplies |
|
$ |
1,913,013 |
|
|
$ |
1,973,634 |
|
Work-in-process |
|
|
161,137 |
|
|
|
158,346 |
|
Finished goods |
|
|
613,786 |
|
|
|
457,752 |
|
Inventories, gross |
|
|
2,687,936 |
|
|
|
2,589,732 |
|
Less: inventory reserve |
|
|
(1,161,469 |
) |
|
|
(1,133,457 |
) |
Inventories, net |
|
$ |
1,526,467 |
|
|
$ |
1,456,275 |
|
|
| Schedule of Property and Equipment, Net |
Property and equipment, net as of December 31, 2024 consisted of the following:
|
|
|
|
|
|
|
December 31,
2024 |
|
Machinery and equipment |
|
$ |
7,203,592 |
|
Leasehold improvements |
|
|
897,948 |
|
Furniture and office equipment |
|
|
205,897 |
|
Computer equipment and software |
|
|
197,386 |
|
Property and equipment, gross |
|
|
8,504,823 |
|
Less: accumulated depreciation and amortization |
|
|
(3,670,094 |
) |
Property and equipment, net |
|
$ |
4,834,729 |
|
|
Property and equipment, net as of December 31, 2024 and 2023 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, |
|
|
|
2024 |
|
|
2023 |
|
Machinery and equipment |
|
$ |
7,203,592 |
|
|
$ |
7,179,629 |
|
Leasehold improvements |
|
|
897,948 |
|
|
|
897,948 |
|
Furniture and office equipment |
|
|
205,897 |
|
|
|
205,897 |
|
Computer equipment and software |
|
|
197,386 |
|
|
|
197,386 |
|
Property and equipment, gross |
|
|
8,504,823 |
|
|
|
8,480,860 |
|
Less: accumulated depreciation and amortization |
|
|
(3,670,094 |
) |
|
|
(2,829,884 |
) |
Property and equipment, net |
|
$ |
4,834,729 |
|
|
$ |
5,650,976 |
|
|
| Schedule of Prepaid Expenses and Other Current Assets |
Prepaid expenses and other current assets as of June 30, 2025 and December 31, 2024 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
June 30,
2025 |
|
|
December 31,
2024 |
|
Common stock issued for services |
|
$ |
709,167 |
|
|
$ |
— |
|
Prepaid insurance |
|
|
88,633 |
|
|
|
123,959 |
|
Other prepaid assets |
|
|
43,174 |
|
|
|
28,521 |
|
Other current assets (1) |
|
|
178,589 |
|
|
|
10,269 |
|
Total prepaid expenses and other current assets |
|
$ |
1,019,563 |
|
|
$ |
162,749 |
|
(1)Includes $150,000 receivable from Liqueous in connection with the Liqueous Settlement Agreement, as defined and further described in Note 6.
|
Prepaid expenses and other current assets as of December 31, 2024 and 2023 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, |
|
|
|
2024 |
|
|
2023 |
|
Prepaid insurance |
|
$ |
123,959 |
|
|
$ |
61,342 |
|
Other prepaid assets |
|
|
28,521 |
|
|
|
94,653 |
|
Other current assets |
|
|
10,269 |
|
|
|
260 |
|
Total prepaid expenses and other current assets |
|
$ |
162,749 |
|
|
$ |
156,255 |
|
|
| Schedule of Accrued Expenses |
Accrued expenses as of June 30, 2025 and December 31, 2024 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
June 30,
2025 |
|
|
December 31,
2024 |
|
Accrued legal, accounting and professional fees |
|
$ |
3,174,608 |
|
|
$ |
2,448,594 |
|
Accrued TCEI acquisition costs |
|
|
735,127 |
|
|
|
— |
|
Accrued transaction costs related to the reverse recapitalization |
|
|
503,600 |
|
|
|
503,600 |
|
Accrued lease-related payables |
|
|
409,278 |
|
|
|
54,288 |
|
Accrued taxes payable |
|
|
339,569 |
|
|
|
357,953 |
|
Accrued payroll and benefits |
|
|
336,473 |
|
|
|
232,966 |
|
Accrued interest |
|
|
62,505 |
|
|
|
560,501 |
|
Other |
|
|
102,056 |
|
|
|
143,293 |
|
Total accrued expenses |
|
$ |
5,663,216 |
|
|
$ |
4,301,195 |
|
|
Accrued expenses as of December 31, 2024 and 2023 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, |
|
|
|
2024 |
|
|
2023 |
|
Accrued payroll and related benefits |
|
$ |
357,953 |
|
|
$ |
754,904 |
|
Accrued legal, accounting and professional fees |
|
|
2,448,594 |
|
|
|
838,865 |
|
Accrued transaction costs related to the reverse recapitalization |
|
|
503,600 |
|
|
|
503,600 |
|
Accrued taxes payable |
|
|
232,966 |
|
|
|
89,346 |
|
Accrued interest |
|
|
560,501 |
|
|
|
87,265 |
|
Other |
|
|
197,581 |
|
|
|
225,677 |
|
Total accrued expenses |
|
$ |
4,301,195 |
|
|
$ |
2,499,657 |
|
|