Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 10,054,304 $ 1,186,047
Restricted certificate of deposit 52,640 52,151
Accounts receivable, net 326,830 238,531
Accounts receivable unbilled 165,256 0
Inventories 955,894 880,594
Prepaid expenses 1,695,991 1,389,434
Other current assets 607,391 573,275
Assets held for sale 750 750
Total Current Assets 13,859,056 4,320,782
Property and equipment, net 22,812,432 17,115,246
Operating lease right-of-use assets, net 999,496 1,094,743
Other assets 157,701 154,316
Goodwill 10,652,388 0
Total Assets 48,481,073 22,685,087
Current Liabilities:    
Accounts payable 4,892,453 5,916,693
Accrued liabilities 9,674,282 5,602,721
Contract liability 346,279 346,279
Operating lease liabilities - current 447,292 435,307
Notes payable - current 2,437,744 0
Total Current Liabilities 17,798,050 12,301,000
Warrant liabilities 131,025 181,913
Operating lease liabilities - long-term 653,402 768,939
Other liabilities 895,118 895,118
Total Liabilities 46,959,571 43,082,500
Stockholders’ Deficit:    
Series A Convertible Preferred Stock $0.0001 par value; 40,000 shares authorized, 35,434 shares issued at March 31, 2025 and December 31, 2024 and 19,846 and 35,034 outstanding at March 31, 2025 and December 31, 2024, respectively. 2 4
Common stock, $0.0001 par value; 625,000,000 shares authorized, 35,153,188 and 9,761,895 shares issued, respectively, and 35,153,188 and 9,761,895 shares outstanding, respectively 3,515 976
Additional paid-in capital 262,825,753 233,342,188
Accumulated other comprehensive loss (42,229) (42,229)
Accumulated deficit (261,265,539) (253,698,352)
Total Stockholders’ Equity (Deficit) 1,521,502 (20,397,413)
Total Liabilities and Stockholders’ Deficit 48,481,073 22,685,087
Related Party    
Current Liabilities:    
Accounts payable 72,684 160,366
Notes payable - long-term, fair value option 3,307,758 2,583,832
Notes payable - long-term, net of discount 10,955,052 13,820,366
Nonrelated Party    
Current Liabilities:    
Notes payable - long-term, net of discount $ 13,219,166 $ 12,531,332