Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash and cash equivalents $ 753,398 $ 17,787,159
Restricted certificate of deposit 201,822 250,375
Short-term investments 0 4,959,263
Accounts receivable, net 212,428 1,622,434
Inventories 2,198,797 6,666,912
Contract assets 0 573,895
Prepaid expenses 1,889,218 5,046,599
Other current assets 1,025,214 56,410
Assets held for sale 2,940,254 0
Total Current assets 9,221,131 36,963,047
Property and equipment, net 15,904,845 15,167,367
Operating lease right-of-use asset 834,972 317,208
Other assets 187,527 155,490
Total Assets 26,148,475 52,603,112
Current Liabilities:    
Accounts payable 7,035,450 324,484
Accrued liabilities 7,339,099 3,142,977
Contract liability 2,767,913 0
Operating lease liabilities - current 244,774 410,158
Total Current Liabilities 17,387,236 3,877,619
Warrant liabilities 18,376,180 32,688,342
Operating lease liabilities - long-term 574,260 87,214
Notes payable - long-term, net of discount (related party) 31,597,649 15,922,118
Total Liabilities 67,935,325 52,575,293
Commitments and Contingencies
Stockholders’ Equity (Deficit):    
Common stock, $0.0001 par value; 625,000,000 shares authorized, 50,035,824 and 47,250,771 shares issued, respectively, and 50,035,824 and 47,250,771 shares outstanding, respectively. 5,004 4,725
Additional paid-in capital 76,999,849 68,128,196
Accumulated deficit (118,791,703) (68,105,102)
Total Stockholders’ Equity (Deficit) (41,786,850) 27,819
Total Liabilities and Stockholders’ Equity (Deficit) $ 26,148,475 $ 52,603,112