Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 5,961,668 $ 7,491,123
Restricted cash 215,117 215,117
Inventories, net 2,681,000 2,516,760
Prepaid expenses and other current assets 200,640 196,141
Assets held for sale, net 4,334,523
Total current assets 13,392,948 10,419,141
Property and equipment, net 8,743,265 15,037,798
Operating lease right of use asset, net 195,540 390,686
Security deposit 26,193 40,280
Total Assets 22,357,946 25,887,905
Current Liabilities:    
Accounts payable 2,025,155 2,215,078
Accrued liabilities 926,605 794,253
Contract liabilities 12,500 80,000
Finance lease liabilities 21,038 221,929
Operating lease liabilities 218,560 436,730
Total current liabilities 3,203,858 3,747,990
Economic Injury Disaster Loan 499,900 499,900
Finance lease liabilities - noncurrent 30,952 2,423,165
Total Liabilities 3,734,710 6,671,055
Stockholders’ equity:    
Preferred stock: 10,000,000 authorized; $0.001 par value; no shares issued and outstanding
Common stock: 50,000,000 authorized; $0.001 par value; 2,237,299 and 1,487,445 issued and outstanding at June 30, 2025 and December 31, 2024, respectively 2,237 1,487
Additional paid-in capital 47,278,265 44,608,318
Accumulated deficit (28,657,266) (25,392,955)
Total stockholders’ equity 18,623,236 19,216,850
Total Liabilities and Stockholders’ Equity $ 22,357,946 $ 25,887,905