v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 2,622,313 $ 687,920
Restricted cash 100,000 100,000
Accounts receivable, net 3,203,505 5,321,037
Other receivables, net 1,999,637
Prepaid expenses (including related party amount of $110,803 and $312,966, respectively) 351,049 1,859,563
Inventory, net 3,737,509 1,716,552
Total Current Assets 10,014,376 16,059,768
Intangible assets, net 150,000 283,333
Total Assets 10,164,376 16,343,101
Current Liabilities:    
Accounts payable and accrued liabilities (including payable to shareholder of $196,934 and $88,644, respectively) 6,388,219 5,191,868
Income taxes payable 88,108 242,977
Contract liabilities 1,526 24,252
Short term loans payable, net of debt discount, related party 100,000
Short term loans payable, net of debt discount 7,725,272
Current portion of notes payable, net of debt discount 1,658,215
Current portion of long-term notes payable, net of debt discount and debt issuance cost, shareholder 4,000,000
Total Current Liabilities 8,236,068 17,184,369
Long-term Liabilities:    
Notes payable, net of debt discount, shareholder 8,333,053
Notes payable, net of debt discount 25,056,446 7,457,022
Total long-term liabilities 25,056,446 15,790,075
Total Liabilities 33,292,514 32,974,444
Commitments and contingencies (Note 13)
Stockholders’ Deficit:    
Common stock, $0.00001 par value; 300,000,000 shares authorized; 11,483,926 and 8,721,818, shares issued, respectively; 11,303,853 and 8,541,745 outstanding, respectively 114 87
Additional paid in capital 33,594,550 27,643,660
Accumulated other comprehensive loss (154,281) (47,777)
Accumulated deficit (56,441,021) (44,099,813)
Less: Treasury stock (180,073 shares) at cost (127,500) (127,500)
Total stockholders’ deficit (23,128,138) (16,631,343)
Total Liabilities and Stockholders’ Deficit 10,164,376 16,343,101
Related Party    
Current Assets    
Loan receivable (related party), net $ 4,375,059