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Accrued Expenses and Other Liabilities (Tables)
 12 Months Ended
Dec. 31, 2024
Accrued Liabilities and Other Liabilities [Abstract]  
Schedule of Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following on December 31:

 

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Accrued compensation and related liabilities

 

$

1,008,278

 

 

$

1,023,902

 

Deferred revenue

 

$

218,499

 

 

 

299,514

 

Customer deposits

 

$

26,607

 

 

 

27,447

 

Warranty reserve

 

$

501,726

 

 

 

607,809

 

Trade and other taxes

 

$

495,105

 

 

 

392,336

 

Other accrued expenses

 

$

2,556,461

 

 

 

851,511

 

 

$

4,806,675

 

 

$

3,202,519

 
Schedule of Deferred Revenue, Warranties and Deposit Balances Along with Significant Activity Affecting Balances

The table below presents the deferred revenue, warranties and deposit balances along with the significant activity affecting balances during the years ended December 31, 2024 and 2023:

 

 

 

December 31,

 

 

December 31,

 

Deferred revenue

 

2024

 

 

2023

 

Beginning balance

 

$

299,514

 

 

$

378,952

 

Deferral of revenue during the period

 

 

162,798

 

 

 

311,086

 

Recognition of unearned revenue from beginning of period

 

 

(222,638

)

 

 

(329,550

)

Recognition of unearned revenue from additions

 

 

(21,175

)

 

 

(60,974

)

Ending balance

 

$

218,499

 

 

$

299,514

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

December 31,

 

Customer deposits

 

2024

 

 

2023

 

Beginning balance

 

$

27,447

 

 

$

461,696

 

Additions during the period

 

 

13,852,530

 

 

 

5,585,056

 

Deposits recognized from beginning of period

 

 

(15,491

)

 

 

(46,120

)

Deposits recognized from additions

 

 

(13,837,879

)

 

 

(5,973,185

)

Ending balance

 

$

26,607

 

 

$

27,447