v3.26.3
Consolidated Condensed Balance Sheets - USD ($)
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 161,965,505 $ 103,261,397
Short-term investments at fair value 53,391,766 39,214,909
Short-term investment at cost 45,000,000 0
Accounts Receivable, after Allowance for Credit Loss, Current [1] 18,703,356 1,779,423
Inventories 42,622,077 5,316,648
Note receivable 5,000,000 0
Prepaid inventory 23,259,023 9,748,483
Other current assets 1,370,481 190,622
Total current assets 351,312,208 159,511,482
Non-current assets:    
Property and equipment, net 8,500,523 2,233,891
Operating lease right-of-use assets 3,617,334 2,607,256
Other assets 243,551 197,785
Goodwill 15,596,105 15,596,105
Intangible assets, net 2,393,977 2,561,895
Total non-current assets 30,351,490 23,196,932
Total assets 381,663,698 182,708,414
Current liabilities    
Accounts payable and accrued expenses 6,055,909 1,506,793
Deferred revenue 114,491 638,125
Operating lease liability 972,234 456,429
Contingent consideration 3,000,000 2,847,000
Total current liabilities 10,142,634 5,448,347
Non-current liabilities    
Deferred tax liability 146,772 146,772
Operating lease liability – less current portion 2,741,969 2,173,626
Total non-current liabilities 2,888,741 2,320,398
Total liabilities 13,031,375 7,768,745
Commitments and contingencies (See note 13)
Stockholders’ equity:    
Common stock - $0.01 par value, 500,000,000 authorized and 49,982,430 and 37,759,911 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively 499,827 377,596
Additional paid in capital 445,760,785 229,665,734
Accumulated deficit (77,652,637) (55,107,131)
Accumulated other comprehensive income 24,348 3,470
Total stockholders’ equity 368,632,323 174,939,669
Total liabilities and stockholders’ equity $ 381,663,698 $ 182,708,414
[1] Of the $18.7 million balance in Accounts Receivable as of September 30, 2026, approximately $1.9 million is from related parties.