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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 6,794,093 $ 4,048,948
Short-term investments (Note 3) 3,217,065 7,771,820
Accounts receivable, net (Note 4) 8,177,371 8,318,247
Inventories, net (Note 5) 13,176,156 21,694,748
Prepaid expenses and other current assets 836,364 611,066
Total current assets 32,201,048 42,444,829
Property and equipment, net (Note 6) 1,669,026 2,370,224
Operating lease right-of use assets 1,536,094 1,922,784
Deposits and other 38,093 38,093
Goodwill 1,489,722 1,489,722
Total Assets 36,933,982 48,265,652
Current liabilities    
Accounts payable 2,068,017 1,201,781
Accrued expenses and other liabilities (Note 8) 4,806,675 3,202,519
Current portion of operating lease obligation (Note 13) 285,937 390,926
Current portion of notes payable (Note 9) 1,035,050 2,077,895
Total current liabilities 8,195,679 6,873,121
Deferred tax liability, net 52,574 44,673
Operating lease obligation, net of current portion (Note 13) 1,513,684 1,765,536
Total liabilities 9,761,937 8,683,330
Commitments and contingencies (Note 12)
Stockholders’ equity    
Common stock, $0.0001 par value; 50,000,000 shares authorized; 21,148,810 and 20,661,341 shares issued and outstanding at December 31, 2024 and 2023, respectively 2,115 2,066
Additional paid-in capital 49,082,737 47,323,673
Accumulated other comprehensive income 140,254 675,310
Accumulated deficit (22,053,061) (8,418,727)
Total stockholders’ equity 27,172,045 39,582,322
Total Liabilities and Stockholders' Equity $ 36,933,982 $ 48,265,652