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BALANCE SHEET COMPONENTS (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]    
Schedule of Inventories

Inventories, net as of December 31, 2024 consisted of the following:

 

 

December 31,
2024

 

Raw materials and supplies

 

$

1,913,013

 

Work-in-process

 

 

161,137

 

Finished goods

 

 

613,786

 

Inventories, gross

 

 

2,687,936

 

Less: inventory reserve

 

 

(1,161,469

)

Inventories, net

 

$

1,526,467

 

Inventories, net as of December 31, 2024 and 2023 consisted of the following:

 

 

Year ended December 31,

 

 

 

2024

 

 

2023

 

Raw materials and supplies

 

$

1,913,013

 

 

$

1,973,634

 

Work-in-process

 

 

161,137

 

 

 

158,346

 

Finished goods

 

 

613,786

 

 

 

457,752

 

Inventories, gross

 

 

2,687,936

 

 

 

2,589,732

 

Less: inventory reserve

 

 

(1,161,469

)

 

 

(1,133,457

)

Inventories, net

 

$

1,526,467

 

 

$

1,456,275

 

Schedule of Property and Equipment, Net

Property and equipment, net as of December 31, 2024 consisted of the following:

 

 

December 31,
2024

 

Machinery and equipment

 

$

7,203,592

 

Leasehold improvements

 

 

897,948

 

Furniture and office equipment

 

 

205,897

 

Computer equipment and software

 

 

197,386

 

Property and equipment, gross

 

 

8,504,823

 

Less: accumulated depreciation and amortization

 

 

(3,670,094

)

Property and equipment, net

 

$

4,834,729

 

Property and equipment, net as of December 31, 2024 and 2023 consisted of the following:

 

 

Year ended December 31,

 

 

 

2024

 

 

2023

 

Machinery and equipment

 

$

7,203,592

 

 

$

7,179,629

 

Leasehold improvements

 

 

897,948

 

 

 

897,948

 

Furniture and office equipment

 

 

205,897

 

 

 

205,897

 

Computer equipment and software

 

 

197,386

 

 

 

197,386

 

Property and equipment, gross

 

 

8,504,823

 

 

 

8,480,860

 

Less: accumulated depreciation and amortization

 

 

(3,670,094

)

 

 

(2,829,884

)

Property and equipment, net

 

$

4,834,729

 

 

$

5,650,976

 

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets as of September 30, 2025 and December 31, 2024 consisted of the following:

 

 

September 30,
2025

 

 

December 31,
2024

 

Common stock issued for services

 

$

692,792

 

 

$

 

Prepaid insurance

 

 

159,672

 

 

 

123,959

 

Other prepaid assets

 

 

1,379,726

 

 

 

28,521

 

Other current assets (1)

 

 

2,090,690

 

 

 

10,269

 

Total prepaid expenses and other current assets

 

$

4,322,880

 

 

$

162,749

 

 

(1)
Includes (i) $1,500,000 related to the Trumar Capital LLC acquisition agreement, including a $1,350,000 related party receivable from the Company's Executive Chairman and Co-Chief Executive Officer, as discussed further in Note 6, (ii) $400,000 related to the related party SYME Inventory Advance, as defined and further described in Note 6, and (iii) $110,000 receivable from Liqueous in connection with the Liqueous Settlement Agreement, as defined and further described in Note 6.

Prepaid expenses and other current assets as of December 31, 2024 and 2023 consisted of the following:

 

 

Year ended December 31,

 

 

 

2024

 

 

2023

 

Prepaid insurance

 

$

123,959

 

 

$

61,342

 

Other prepaid assets

 

 

28,521

 

 

 

94,653

 

Other current assets

 

 

10,269

 

 

 

260

 

Total prepaid expenses and other current assets

 

$

162,749

 

 

$

156,255

 

Schedule of Accrued Expenses

Accrued expenses as of September 30, 2025 and December 31, 2024 consisted of the following:

 

 

September 30,
2025

 

 

December 31,
2024

 

Accrued legal, accounting and professional fees

 

$

2,794,345

 

 

$

2,448,594

 

Accrued TCEI acquisition costs

 

 

32,193

 

 

 

 

Accrued transaction costs related to the reverse recapitalization

 

 

503,600

 

 

 

503,600

 

Accrued lease-related payables

 

 

409,278

 

 

 

54,288

 

Accrued taxes payable

 

 

373,397

 

 

 

357,953

 

Accrued payroll and benefits

 

 

361,473

 

 

 

232,966

 

Accrued interest

 

 

55,381

 

 

 

560,501

 

Other

 

 

88,854

 

 

 

143,293

 

Total accrued expenses

 

$

4,618,521

 

 

$

4,301,195

 

Accrued expenses as of December 31, 2024 and 2023 consisted of the following:

 

 

Year ended December 31,

 

 

 

2024

 

 

2023

 

Accrued payroll and related benefits

 

$

357,953

 

 

$

754,904

 

Accrued legal, accounting and professional fees

 

 

2,448,594

 

 

 

838,865

 

Accrued transaction costs related to the reverse recapitalization

 

 

503,600

 

 

 

503,600

 

Accrued taxes payable

 

 

232,966

 

 

 

89,346

 

Accrued interest

 

 

560,501

 

 

 

87,265

 

Other

 

 

197,581

 

 

 

225,677

 

Total accrued expenses

 

$

4,301,195

 

 

$

2,499,657