v3.26.1
Unaudited Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current Assets    
Cash $ 479,857 $ 63,859
Accounts receivable, net of allowance for credit losses of $197,003 and $230,000 as of March 31, 2026 and December 31, 2025, respectively 1,742,569 2,648,229
Inventories, net 3,532,536 4,582,576
Prepaid expenses and other current assets 1,069,601 760,616
Total current assets 6,824,563 8,055,280
Property, plant and equipment, net 43,505,919 43,891,964
Intangible assets 298,041 298,041
Right - of-use asset, net 148,371 158,361
Other non-current assets 169,685 169,685
Total assets 50,946,579 52,573,331
Current liabilities:    
Accounts payable and accrued expenses 17,363,227 16,046,886
Line of credit, current portion 2,209,383 2,691,096
Convertible notes payable, current portion 3,000,000 3,000,000
Notes payable, current portion, net of capitalized loan costs 19,850,380 20,100,380
Operating lease payable, current portion 37,912 39,982
Finance leases payable, current portion 668,338 642,474
Total current liabilities 71,846,949 69,816,703
Operating lease payable, net of current portion 110,928 118,528
Finance leases payable, net of current portion 312,356 489,461
Deferred tax liability 1,379,226 1,379,226
Total liabilities 73,649,459 71,803,918
Shareholders’ (deficit)    
Common Stock, no par value
Additional paid-in capital 90,580,730 90,540,605
Accumulated deficit (113,283,610) (109,771,192)
Total shareholders’ (deficit) (22,702,880) (19,230,587)
Total liabilities and shareholders’ (deficit) 50,946,579 52,573,331
Related Party    
Current liabilities:    
Due to related parties $ 28,717,709 $ 27,295,885