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

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash $ 15,703,579 $ 1,216,107
Inventory 255,716 858,642
Prepaid and other current assets 3,429,656 5,405,453
Total current assets 22,252,552 9,202,310
Property and equipment, net 14,891,976 9,570,214
Operating lease right-of-use assets 121,545 115,573
Intangible asset 398,135 398,135
Other assets 81,359 64,880
Total Assets 37,745,567 19,351,112
Current liabilities    
Accounts payable and other current liabilities 3,481,167 6,697,562
Asset-based loan liability 6,902,636 2,587,900
Notes payable 3,059,767 2,017,286
Operating lease liability 121,544 119,272
Total current liabilities 14,209,502 12,219,356
Total Liabilities 14,209,502 12,219,356
Commitments and contingencies
Stockholders’ Equity    
Additional paid-in capital 83,887,682 49,918,441
Accumulated deficit (60,353,224) (42,786,793)
Total Stockholders’ Equity 23,536,065 7,131,756
Total Liabilities and Stockholders’ Equity 37,745,567 19,351,112
Series A Preferred Stock [Member]    
Stockholders’ Equity    
Preferred stock, value
Common Class A [Member]    
Stockholders’ Equity    
Common stock, value 1,597 98
Common Class B [Member]    
Stockholders’ Equity    
Common stock, value 10 10
Nonrelated Party [Member]    
Current assets    
Accounts receivable 827,886 1,175,077
Contract asset 1,347,386 436,411
Current liabilities    
Contract liability 16,192 77,124
Related Party [Member]    
Current assets    
Accounts receivable 641,376 67,447
Contract asset 46,953 43,173
Current liabilities    
Accounts payable and accrued interest - related party 581,243 677,039
Contract liability $ 46,953 $ 43,173