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v3.25.1

Segment and Geographic Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of (Loss) Income from Operations by Reporting Segments | Segment detail for the years ended December 31, 2024 and 2023, is as follows:
|  | For the Twelve Months Ended December 31, 2024 |  |  | For the Twelve Months Ended December 31, 2023 |
|  | OSS |  |  | Bressner |  |  | Total |  |  | OSS |  |  | Bressner |  |  | Total |
Revenues |  | $ | 24,558,809 |  |  | $ | 30,135,550 |  |  | $ | 54,694,358 |  |  | $ | 28,809,888 |  |  | $ | 32,086,910 |  |  | $ | 60,896,797 |
Cost of revenues |  |  | (23,935,886 | ) |  |  | (23,040,166 | ) |  |  | (46,976,051 | ) |  |  | (18,544,902 | ) |  |  | (24,397,274 | ) |  |  | (42,942,175 | )
Gross profit |  |  | 622,923 |  |  |  | 7,095,384 |  |  |  | 7,718,307 |  |  |  | 10,264,986 |  |  |  | 7,689,636 |  |  |  | 17,954,622 |
Gross margin % |  |  | 2.5 | % |  |  | 23.5 | % |  |  | 14.1 | % |  |  | 35.6 | % |  |  | 24.0 | % |  |  | 29.5 | %
Research & development |  |  | (3,466,077 | ) |  |  | (631,152 | ) |  |  | (4,097,229 | ) |  |  | (3,813,460 | ) |  |  | (517,564 | ) |  |  | (4,331,024 | )
Other segment operating expenses |  |  | (12,820,332 | ) |  |  | (4,157,559 | ) |  |  | (16,977,892 | ) |  |  | (17,928,561 | ) |  |  | (3,618,190 | ) |  |  | (21,546,751 | )
(Loss) income from operations |  | $ | (15,663,486 | ) |  | $ | 2,306,672 |  |  | $ | (13,356,813 | ) |  | $ | (11,477,034 | ) |  | $ | 3,553,882 |  |  | $ | (7,923,153 | )
|  | For the Twelve Months Ended December 31, 2024 |  |  | For the Twelve Months Ended December 31, 2023 |
|  | OSS |  |  | Bressner |  |  | Total |  |  | OSS |  |  | Bressner |  |  | Total |
Interest income |  | $ | 477,745 |  |  | $ | - |  |  | $ | 477,745 |  |  | $ | 544,958 |  |  |  |  |  | $ | 544,958 |
Interest expense |  |  | (4,027 | ) |  |  | (70,089 | ) |  |  | (74,116 | ) |  |  | 1,612 |  |  |  | (119,386 | ) |  |  | (117,774 | )
Depreciation and amortization of intangibles |  |  | (927,282 | ) |  |  | (114,555 | ) |  |  | (1,041,837 | ) |  |  | (1,017,038 | ) |  |  | (60,478 | ) |  |  | (1,077,516 | )
Other significant non-cash items: |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Inventory reserves |  |  | (7,088,114 | ) |  |  | (260,276 | ) |  |  | (7,348,390 | ) |  |  | (1,068,280 | ) |  |  | 105,823 |  |  |  | (962,458 | )
Goodwill impairment |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (5,630,788 | ) |  |  | - |  |  |  | (5,630,788 | )
Stock based compensation expense |  |  | (1,856,417 | ) |  |  | (131,709 | ) |  |  | (1,988,125 | ) |  |  | (2,207,344 | ) |  |  | (138,014 | ) |  |  | (2,345,358 | )
Total assets |  |  | 20,552,197 |  |  |  | 16,381,785 |  |  |  | 36,933,982 |  |  |  | 32,560,602 |  |  |  | 15,705,050 |  |  |  | 48,265,652 |
Capital expenditures |  |  | (228,258 | ) |  |  | (134,491 | ) |  |  | (362,748 | ) |  |  | (636,066 | ) |  |  | (185,687 | ) |  |  | (821,753 | )

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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