v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 12,818,283 $ 16,035,475
Restricted cash 109,215 164,682
Marketable securities 2,479,725 4,089,832
Prepaid expenses and other current assets 326,720 972,245
Total current assets 15,733,943 21,262,234
Operating lease – right-of-use asset 381,267 429,819
Deposits and other assets 39,962 46,665
Total assets 16,155,172 21,738,718
Current liabilities:    
Accounts payable 1,657,539 1,863,045
Accrued expenses and other current liabilities 780,127 793,819
Accrued preferred stock redemption payable (H-7) 4,483,211 1,285,680
Current portion lease obligation – operating lease 226,614 219,085
Total current liabilities 7,147,491 4,161,629
Derivative liability 1,130,000 2,661,000
Warranty liability 1,282,300 2,362,900
Lease obligation - operating lease, net of current portion 224,425 283,742
Total liabilities 9,784,216 9,469,271
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 – 4,667 and 10,167 shares, at March 31, 2025 and December 31, 2024, respectively). Liquidation preference of $5,417,161 as of March 31, 2025. 3,364,603 7,587,518
Stockholders’ equity:    
Preferred stock, value
Common Stock ($0.0001 par value; authorized – 200,000,000 shares; issued and outstanding – 8,541,466 shares as of March 31, 2025, and December 31, 2024, respectively) 855 855
Additional paid-in capital 119,246,005 121,766,592
Accumulated deficit (116,240,507) (117,085,518)
Total stockholders’ equity 3,006,353 4,681,929
Total liabilities, mezzanine equity and stockholders’ equity 16,155,172 21,738,718
Series H Convertible Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock, value
Convertible Preferred Stock Series H-3 [Member]    
Stockholders’ equity:    
Preferred stock, value

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