v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash $ 1,824,000 $ 325,000
Trade accounts receivable, net 2,280,000 1,957,000
Other receivables 22,000 99,000
Inventory, net 1,805,000 1,665,000
Prepaid expenses and other current assets 237,000 182,000
Total current assets 6,168,000 4,228,000
Property, plant and equipment, net of depreciation 8,361,000 8,297,000
Intangible assets, net of amortization 125,000 125,000
Other non-current assets 180,000 180,000
Total assets 14,834,000 12,830,000
Current liabilities:    
Line of credit 527,000 1,124,000
Accounts payable - trade 1,703,000 3,086,000
Accounts payable - construction in progress 1,861,000 2,433,000
Disputed co-manufacturer accounts payable (Note 5) 499,000 499,000
Accrued expenses 286,000 388,000
Accrued payroll and employee related expenses 139,000 173,000
Financing agreements - current 308,000 296,000
Notes payable 441,000 3,031,000
Total current liabilities 5,764,000 11,030,000
Financing agreements 483,000 470,000
Convertible notes, net of $619,000 discount at March 31, 2026 6,909,000
Total liabilities 13,156,000 11,500,000
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.000001 par value, 400,000 shares authorized, none issued or outstanding
Common stock, $0.000001 par value; 23,000,000 shares authorized; and 16,104,853 and 15,969,281 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively
Additional paid in capital 68,654,000 67,645,000
Accumulated deficit (66,976,000) (66,315,000)
Total stockholders’ equity 1,678,000 1,330,000
Total liabilities and stockholders’ equity $ 14,834,000 $ 12,830,000