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Balance Sheet Components | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2025 | Dec. 31, 2024
Balance Sheet Components [Abstract] |  |
BALANCE SHEET COMPONENTS | 5 - BALANCE SHEET COMPONENTS Inventory Inventory consists of the following:
|  | March 31, 2025 |  |  | December 31, 2024 |
Inventory |  | $ | 7,256,166 |  |  | $ | 7,377,966 |
Inventory allowance |  |  | (904,653 | ) |  |  | (904,653 | )
Consigned parts |  |  | 1,425,736 |  |  |  | 985,927 |
Total |  | $ | 7,777,249 |  |  | $ | 7,459,240 |
Property and Equipment, net Property and equipment, net consists of the following:
|  | March 31, 2025 |  |  | December 31, 2024 |
Furniture and fixtures |  | $ | 703,101 |  |  | $ | 702,122 |
Computer equipment |  |  | 330,598 |  |  |  | 327,166 |
Leasehold improvements |  |  | 390,742 |  |  |  | 390,742 |
Total property and equipment gross |  |  | 1,424,441 |  |  |  | 1,420,030 |
Less - Accumulated depreciation |  |  | (1,253,070 | ) |  |  | (1,209,401 | )
Total property and equipment net |  | $ | 171,371 |  |  | $ | 210,629 |
Depreciation expense for the three months ended March 31, 2025 and 2024, totaled $35,697 and $54,851, respectively. | 5 - BALANCE SHEET COMPONENTS Inventory, net Inventory consists of the following:
|  | December 31, 2024 |  |  | December 31, 2023 |
Inventory |  | $ | 7,377,966 |  |  | $ | 7,392,919 |
Inventory allowance |  |  | (904,653 | ) |  |  | (1,145,548 | )
Consigned parts |  |  | 985,927 |  |  |  | 1,128,250 |
Total |  | $ | 7,459,240 |  |  | $ | 7,375,621 |
Prepaid and other current assets Prepaid and other current assets consists of the following:
|  | December 31, 2024 |  |  | December 31, 2023 |
Prepaid expenses |  | $ | 312,239 |  |  | $ | 177,027 |
Inventory purchase deposit |  |  | 5,000,000 |  |  |  | - |
Production deposit |  |  | 336,643 |  |  |  | 336,643 |
Other current assets |  |  | 712 |  |  |  | - |
Total |  | $ | 5,649,594 |  |  | $ | 513,670 |
In January 2024, the Company placed an inventory order and paid a $5.0 million deposit against the order. The inventory was to be delivered on or before June 30, 2024. The inventory was not delivered by such date; and as a result, the Company is entitled to a refund of its deposit. The Company was granted a security interest in the purchased inventory. Upon the return of the Company’s down payment, the order will terminate. As of December 31, 2024, the deposit has not been returned. The Company expects the return of the deposit before June 30, 2025. Property and Equipment, net Property and equipment, net consists of the following:
|  | December 31, 2024 |  |  | December 31, 2023 |
Furniture and fixtures |  | $ | 702,122 |  |  | $ | 683,763 |
Computer equipment |  |  | 327,166 |  |  |  | 300,101 |
Leasehold improvements |  |  | 390,742 |  |  |  | 390,742 |
Total property and equipment gross |  |  | 1,420,030 |  |  |  | 1,374,606 |
Less - Accumulated depreciation |  |  | (1,209,401 | ) |  |  | (997,939 | )
Total property and equipment net |  | $ | 210,629 |  |  | $ | 376,667 |
Total depreciation expense for the years ended December 31, 2024 and 2023, totaled approximately $212,000 and $226,000, respectively. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following:
|  | December 31, 2024 |  |  | December 31, 2023 |
Payroll and payroll related expenses |  | $ | 605,138 |  |  | $ | 503,629 |
Rent expenses - related party |  |  | 3,657,000 |  |  |  | 3,124,800 |
Legal expenses |  |  | 783,695 |  |  |  | 325,000 |
Consulting expenses |  |  | 80,917 |  |  |  | 268,684 |
CEO expenses |  |  | - |  |  |  | 179,075 |
Other accrued expenses and current liabilities |  |  | 442,572 |  |  |  | 340,307 |
Total accrued expenses and other current liabilities |  | $ | 5,569,322 |  |  | $ | 4,741,495 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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