v3.25.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash $ 3,456,082 $ 20,939,762
Accounts receivable 1,823,232 3,076,462
Inventory 621,813 795,164
Prepaid expenses and other assets 198,185 183,621
Total current assets 6,099,312 24,995,009
Security deposits 6,615 5,175
Property and equipment, net 2,350,688 1,595,958
Right of use asset - operating lease 305,142 10,639
Intellectual property, net 1,499,463 1,704,063
Total assets 10,261,220 28,310,844
Current liabilities    
Accounts payable and accrued expenses (related party $37,500 and $107,454 at December 31, 2024 and December 31, 2023, respectively) 1,702,998 1,558,450
Income tax payable 0 437,821
Current portion of operating lease liability 42,733 11,157
Customer credits 167,000 167,000
Accrued salaries 39,280 8,936
Profit shares liability - related party 6,853,858 0
Total current liabilities 8,805,869 2,183,364
Operating lease liability, net of current portion 263,490 0
Secured note payable, net of discount - related party 0 239,466
Unsecured note payable, net of discount and issuance costs - related party 0 10,979,723
Profit share liability - related party 0 14,847,937
Total liabilities 9,069,359 28,250,490
Stockholders' equity (deficit)    
Preferred stock, $0.001 par value: 2,000,000 shares authorized, no shares issued 0 0
Common stock, $0.001 par value; 150,000,000 shares authorized 96,178,153 and 94,360,107 shares issued and outstanding as of December 31, 2024 and December 31, 2023 respectively. 96,178 94,360
Additional paid-in capital 73,848,919 61,917,119
Accumulated deficit (72,753,236) (61,951,125)
Total stockholders' equity (deficit) 1,191,861 60,354
Total liabilities and stockholders' equity (deficit) $ 10,261,220 $ 28,310,844

Source

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