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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash $ 3,784,659 $ 3,613,996
Accounts receivable, net 1,127,753 1,432,470
Inventories, net 5,391,863 5,475,857
Prepaid and other current assets 676,081 425,182
Total current assets 10,980,356 10,947,505
Property and equipment, net 411,852 455,592
Right-of-use assets 2,343,547 2,511,572
Intangible assets, net 1,771,130 1,956,304
Goodwill 4,459,644 4,459,644
Other assets 255,735 250,937
Total assets 20,222,264 20,581,554
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)    
Accounts payable 1,686,591 2,786,492
Accrued liabilities 2,027,887 2,360,775
Convertible note 563,333 1,333,333
Other short-term loan 99,735
Contract liabilities 220,987 148,054
Current portion of lease liabilities 911,496 921,038
Current portion of COVID loan 186,636 237,464
Total current liabilities 5,596,930 7,886,891
Long-term portion of lease liabilities 1,476,755 1,646,878
Long-term portion of COVID loan 233,733 274,389
Warrant liabilities 8,620,000 16,400,000
Defined benefit plan obligation 117,918 115,355
Total liabilities 16,045,336 26,323,513
COMMITMENTS AND CONTINGENCIES (NOTE 9)
STOCKHOLDERS’ EQUITY (DEFICIT):    
Preferred Stock, $0.001 par value, 25,000,000 shares authorized: Preferred Stock, Series F Convertible, $0.001 par value, 35,000 shares authorized, 5,025 shares issued and outstanding as of March 31, 2025, and 5,935 shares issued and outstanding as of December 31, 2024 5 6
Common Stock, $0.001 par value, 200,000,000 shares authorized, 12,820,421 and 9,661,664 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 12,821 9,662
Additional paid-in capital 216,542,203 212,715,967
Accumulated deficit (212,377,511) (218,381,218)
Accumulated other comprehensive loss (590) (86,376)
Total stockholders’ equity (deficit) 4,176,928 (5,741,959)
Total liabilities and stockholders’ equity (deficit) $ 20,222,264 $ 20,581,554