v3.26.1
CONDENSED BALANCE SHEETS - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 14,538,226 $ 2,786,493
Trade receivables, net of allowance of $0 and $0, respectively 32,250 0
Inventories, net 551,885 543,617
Prepaid and other current assets 178,105 54,569
Total current assets 15,300,466 3,384,679
Property, Plant and Equipment: 19,059,301 19,132,627
Accumulated depreciation (18,910,960) (18,942,542)
Property, Plant and Equipment, net 148,341 190,085
Other Assets:    
Operating lease right-of-use assets, net 1,031,220 1,332,432
Patents, net of accumulated amortization of $141,872 and $141,189 respectively 8,448 9,131
Equity method investment 66,240 69,221
Other investment 275,000 75,000
Other non-current assets 1,271,355 1,271,355
Total other assets 2,652,263 2,757,139
Total Assets 18,101,070 6,331,903
Current Liabilities:    
Accounts payable 419,199 394,701
Related party payables 5,769 5,769
Accrued expenses 188,373 240,857
Accrued payroll 321,138 211,275
Accrued professional services fees 121,150 62,039
Accrued interest 638,725 614,541
Current portion of operating lease liability 730,769 676,595
Total current liabilities 2,425,123 2,205,777
Long-Term Liabilities:    
Non-current operating lease liabilities 405,900 788,277
Total liabilities 2,831,023 2,994,054
Commitments and contingencies (Note 12)
Stockholders' Equity:    
Series A preferred stock, $.0001 par value; 750,000 shares authorized; 48,100 and 48,100 shares issued and outstanding, respectively ($1,020,923 and $996,739 Liquidation Preference, respectively) 5 5
Common stock, $0.0001 par value, 200,000,000 authorized; 9,816,431 and 4,662,208 shares issued and outstanding, respectively 982 466
Additional paid in capital 518,703,372 502,766,029
Accumulated deficit (503,445,211) (499,441,465)
Accumulated other comprehensive loss 10,899 12,814
Total stockholders' equity 15,270,047 3,337,849
Total Liabilities and Stockholders' Equity $ 18,101,070 $ 6,331,903