v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 16,035,475 $ 33,440,867
Restricted cash 164,682 10,000,000
Marketable securities 4,089,832
Accounts receivable, net of allowance for credit losses of $20,805 and $53,696 at December 31, 2024 and 2023, respectively 219,000
Inventory 3,431,982
Prepaid expenses and other current assets 972,245 1,887,782
Total current assets 21,262,234 48,979,631
Property and equipment, net 3,117,164
Operating lease – right-of-use asset 429,819 671,451
Deposits and other assets 46,665 95,532
Total assets 21,738,718 52,863,778
Current liabilities:    
Accounts payable 1,863,045 2,456,258
Accrued expenses and other current liabilities 793,819 1,656,541
Accrued preferred stock redemption payable (H-7) 1,285,680
Current portion lease obligation – operating lease 219,085 196,682
Total current liabilities 4,161,629 4,309,481
Derivative liability 2,661,000 9,400,000
Warrant liability 2,362,900 13,319,800
Lease obligation - operating lease, net of current portion 283,742 502,831
Total liabilities 9,469,271 27,532,112
Mezzanine equity:    
Redeemable Series H-7 Convertible Preferred Stock, ($0.0001 par value per share and $1,000 face value per share; authorized - 22,000 shares; issued and outstanding – 10,167 and 22,000 shares, at December 31, 2024 and 2023, respectively). Liquidation preference of $11,821,748 as of December 31, 2024. 7,587,518 11,193,939
Stockholders’ equity:    
Preferred Stock, value
Common Stock, ($0.0001 par value; authorized – 200,000,000 shares; issued and outstanding – 8,541,466 and 4,913,907 shares as of December 31, 2024 and 2023, respectively) 855 492
Additional paid-in capital 121,766,592 129,467,274
Accumulated deficit (117,085,518) (115,330,039)
Total stockholders’ equity 4,681,929 14,137,727
Total liabilities, mezzanine equity and stockholders’ equity 21,738,718 52,863,778
Convertible Preferred Stock Series H [Member]    
Stockholders’ equity:    
Preferred Stock, value
Convertible Preferred Stock Series H-3 [Member]    
Stockholders’ equity:    
Preferred Stock, value

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