v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash $ 533,670 $ 710,227
Employee Retention Tax Credit receivable 527,948 507,726
Accounts receivable - net 741,539 586,554
Inventories 965,212 986,975
Prepaid expenses 478,262 194,902
Total current assets 3,246,631 2,986,384
Property and equipment:    
Equipment 4,463,379 4,349,205
Leasehold improvements 3,175,507 3,142,591
Property, Plant and Equipment, Gross 7,638,886 7,491,796
Less accumulated depreciation and amortization 3,979,112 3,583,276
Net property and equipment 3,659,774 3,908,520
Deferred tax asset 3,114,727 3,532,199
Deferred contract costs 1,699,935 1,604,952
Goodwill 278,466 278,466
Operating lease right of use assets 3,332,195 4,154,804
Other assets 562,756 303,922
Total assets 15,894,484 16,769,247
Current liabilities:    
Accounts payable and accrued expenses 702,207 840,848
Current portion of operating lease liability 950,409 870,140
Current portion of Corbel loan payable 5,470,824 1,066,668
Convertible subordinated notes 575,000 0
Warrant liability 500,000 538,822
Total current liabilities 8,198,440 3,316,478
Long-term obligations:    
Loan payable to Corbel net of current portion 0 5,551,738
Convertible notes payable 0 575,000
Operating lease liabilities - net of current portion 2,564,162 3,505,718
Deferred contract income 1,699,934 1,604,952
Total long-term liabilities 4,264,096 11,237,408
Total liabilities 12,462,536 14,553,886
Stockholders' equity:    
Common Stock - no par value (40,000,000 shares authorized, 22,215,512 issued and outstanding as of December 31, 2024 and December 31, 2025) 24,911,141 24,867,778
Accumulated deficit (21,479,193) (22,652,417)
Total stockholders' equity 3,431,948 2,215,361
Total liabilities and stockholders' equity $ 15,894,484 $ 16,769,247