Note 5 – Accounts Receivable, Net

Accounts receivable are stated at their estimated net realizable value. The Company evaluates the collectability of trade receivables on an ongoing basis and establishes an allowance for doubtful accounts as needed based on historical collection experience, customer-specific factors, and current economic conditions. Management believes the allowance for doubtful accounts is adequate to cover expected credit losses. The allowance for doubtful accounts was $0 and $25,586 as of March 31, 2026 and December 31, 2025, respectively. During the three months ended March 31, 2026, the Company wrote off previously reserved receivables, resulting in a zero-allowance balance at period end.

The Company has certain customers whose revenue or accounts receivable balances individually represent 10% or more of total net revenue or total accounts receivable, respectively. For the three months ended March 31, 2026, three customers accounted for approximately 97.2% of net revenue and 99.6% of accounts receivable. For the three months ended March 31, 2025, two customers accounted for approximately 92% of net revenue and 88% of accounts receivable.