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Balance Sheet Components
 3 Months Ended
Mar. 31, 2025
Balance Sheet Components [Abstract]  
BALANCE SHEET COMPONENTS

NOTE 6 – BALANCE SHEET COMPONENTS

 

Prepaid Expenses and Other Current Assets

 

Prepaid expenses and other current assets consisted of the following:

 

   March 31,   December 31, 
   2025   2024 
Other receivables  $185,707   $253,426 
Prepaid insurance and other expenses   971,534    795,141 
Prepaid legal expenses   33,314    23,396 
Prepaid expenses and other assets  $1,190,555   $1,071,963 

 

Other assets

 

Other assets include the long-term prepaid portion of $11,429 relating to the Spartan Consulting Agreement (defined in Note 14).

 

Equipment

 

Equipment consisted of the following:

 

   March 31,   December 31, 
   2025   2024 
Equipment  $84,341   $21,071 
Construction in progress   
-
    18,000 
Total equipment   84,341    39,071 
Less: accumulated depreciation   (13,889)   (11,994)
Total equipment, net  $70,452   $27,077 

 

Depreciation expense for the three months ended March 31, 2025 and 2024 was $1,895 and $237, respectively.

 

Accounts payable and accrued liabilities

 

   March 31,   December 31, 
   2025   2024 
Accounts payable  $821,868   $872,676 
Other accrued liabilities   1,269,925    643,063 
Accrued payroll and bonuses   476,068    923,550 
Accounts payable and accrued liabilities  $2,567,861   $2,439,289