v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 3,649,632 $ 11,884,607
Accounts receivable, net 52,059 190,375
Inventory, net 841,669 992,397
Income taxes receivable 425 44,559
Prepaid expenses and other current assets 648,673 581,527
Total current assets 5,192,458 13,693,465
Property and equipment, net 1,975,111 2,272,098
Operating lease right-of-use asset 1,769,011 1,207,453
Intangible assets, net 7,219,000 7,219,000
Investment in joint ventures 435,051 350,569
Total assets 16,590,631 24,742,585
Current liabilities    
Accounts payable 1,078,380 1,878,225
Accrued expenses 899,183 865,301
Operating lease liability, current 784,261 662,258
Contingent consideration liabilities, current 72,927 119,036
Deferred revenue 28,644 14,800
Total current liabilities 2,863,395 3,539,620
Long-term liabilities    
Operating lease liability 1,014,887 574,301
Total long-term liabilities 1,014,887 574,301
Total liabilities 3,878,282 4,113,921
Commitments and contingencies (Note 11)  
Stockholders’ equity    
Convertible preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
Common stock, $0.001 par value; 100,000,000 shares authorized; 5,040,580 shares issued and 4,878,957 shares outstanding as of June 30, 2026 and 2,256,654 shares issued and 2,095,031 shares outstanding as of December 31, 2025 70,484 67,700
Treasury stock, at cost; 161,623 shares held as of June 30, 2026 and December 31, 2025, respectively (15,575,795) (15,575,795)
Additional paid-in capital 124,015,023 116,510,298
Accumulated deficit (95,797,363) (80,373,539)
Total stockholders’ equity 12,712,349 20,628,664
Total liabilities and stockholders’ equity $ 16,590,631 $ 24,742,585