v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current Assets    
Cash and Cash Equivalents $ 17,297,697 $ 21,150,213
Accounts Receivable, net of allowance for credit losses of $46,000 at June 30, 2026 and December 31, 2025. 1,099,763 1,627,635
Accrued Revenues in Excess of Billings 497,202 533,665
Other Receivables 95,794 379,615
Inventories, Net 1,757,890 2,188,750
Manufacturing Vendor Prepayments 342,294 256,090
Prepaid Expenses and Other Assets 760,201 1,059,759
Total Current Assets 21,850,841 27,195,727
Long-Term Assets    
Fixed Assets, Net 8,256,901 7,626,238
Operating Lease Right-of-Use Assets, Net 741,329 1,003,025
Patents and Trademarks, Net 3,581,529 3,359,066
Technology Licenses, Net 459,438 559,973
Other Assets, Net 300,000 327,778
Total Assets 35,190,038 40,071,807
Current Liabilities    
Accounts Payable 1,445,174 685,010
Unearned Revenue 76,477 62,361
Accrued Expenses 1,737,401 3,590,407
Other Taxes Payable 76,061 49,513
Operating Lease Right-of-Use Liabilities 500,911 500,911
Total Current Liabilities 3,836,024 4,888,202
Long-Term Liabilities    
Operating Lease Right-of-Use Liabilities 240,418 502,114
Total Liabilities 4,076,442 5,390,316
Mezzanine Equity    
Preferred Stock - $0.001 Par Value, 5,000,000 Shares Authorized; 419,959 Shares of Series B Preferred Stock Issued and Outstanding as of June 30, 2026 and December 31, 2025 10,000,000 10,000,000
Stockholders' Equity    
Common Stock - $0.001 Par Value, 200,000,000 shares authorized; 84,993,902 shares issued and 84,414,230 shares outstanding as of June 30, 2026 and 81,679,367 shares issued and 81,099,695 shares outstanding as of December 31, 2025 84,994 81,680
Additional Paid-in Capital 438,138,532 426,934,722
Accumulated Deficit (414,633,429) (399,858,410)
Treasury Stock, at cost, 579,672 shares as of June 30, 2026 and December 31, 2025 (2,476,501) (2,476,501)
Total Stockholders' Equity 21,113,596 24,681,491
Total Liabilities, Mezzanine Equity, and Stockholders' Equity $ 35,190,038 $ 40,071,807