v3.24.1.1.u2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 5,460,290 $ 33,440,867
Restricted cash 10,000,000 10,000,000
Marketable securities 23,640,637
Accounts receivable, net of allowance for credit losses of $121,993 and $53,696 at March 31, 2024, and December 31, 2023, respectively 137,824 219,000
Inventory 3,676,501 3,431,982
Prepaid expenses and other current assets 1,410,190 1,887,782
Total current assets 44,325,442 48,979,631
Property and equipment, net 2,834,018 3,117,164
Operating lease – right-of-use asset 623,813 671,451
Deposits and other assets 89,265 95,532
Total assets 47,872,538 52,863,778
Current liabilities:    
Accounts payable 2,376,161 2,456,258
Accrued expenses and other current liabilities 1,452,388 1,656,541
Current portion lease obligation – operating lease 201,324 196,682
Total current liabilities 4,029,873 4,309,481
Derivative liability 9,391,000 9,400,000
Warrant liability 12,247,000 13,319,800
Lease obligation - operating lease, net of current portion 451,039 502,831
Total liabilities 26,118,912 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 - 22,000 and 22,000 shares, at March 31, 2024, and December 31, 2023, respectively). Liquidation preference of $25,277,468 as of March 31, 2024 14,741,498 11,193,939
Stockholders’ equity:    
Preferred stock, value
Common Stock, ($0.0001 par value; authorized – 200,000,000 shares; issued and outstanding – 4,937,678 and 4,913,907 shares as of March 31, 2024, and December 31, 2023, respectively) 494 492
Additional paid-in capital 125,980,425 129,467,274
Accumulated deficit (118,968,791) (115,330,039)
Total stockholders’ equity 7,012,128 14,137,727
Total liabilities, mezzanine equity and stockholders’ equity 47,872,538 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
Convertible Preferred Stock Series H-6 [Member]    
Stockholders’ equity:    
Preferred stock, value

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