Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED BALANCE SHEETS

v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 1,431,578 $ 7,491,123
Restricted cash 215,117 215,117
Inventories, net 2,492,741 2,516,760
Prepaid expenses and other current assets 227,781 196,141
Deferred offering expenses 30,000
Note receivable, current portion 500,000
Total current assets 4,897,217 10,419,141
Property and equipment, net 8,342,961 15,037,798
Operating lease right of use asset, net 390,686
Note receivable less current portion, net of discount 2,967,998
Security deposit 26,193 40,280
Total Assets 16,234,369 25,887,905
Current Liabilities:    
Accounts payable 1,114,835 2,215,078
Accrued liabilities 714,248 794,253
Contract liabilities 395,932 80,000
Finance lease liabilities 19,498 221,929
Operating lease liabilities 436,730
Total current liabilities 2,244,513 3,747,990
Economic Injury Disaster Loan 499,900 499,900
Finance lease liabilities - noncurrent 22,145 2,423,165
Total Liabilities 2,766,558 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 December 31, 2025 and 2024, respectively 2,237 1,487
Additional paid-in capital 47,465,802 44,608,318
Accumulated deficit (34,000,228) (25,392,955)
Total stockholders’ equity 13,467,811 19,216,850
Total Liabilities and Stockholders’ Equity $ 16,234,369 $ 25,887,905