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BALANCE SHEET COMPONENTS | 12 Months Ended
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Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
BALANCE SHEET COMPONENTS | (4) BALANCE SHEET COMPONENTS Inventories Inventories, net consists of the following:
Schedule of inventories |  |  |  |  |  |  |  |
|  | December 31, |
|  | 2024 |  |  | 2023 |
Materials |  | $ | - |  |  | $ | 210,318 |
Work in process |  |  | - |  |  |  | 1,640,347 |
Finished goods |  |  | - |  |  |  | 8,101,982 |
Total |  | $ | - |  |  | $ | 9,952,647 |
The Company reviews inventory for obsolete and slow-moving products each quarter and makes provisions based on its estimate of the probability that the material will not be consumed or that it will be sold below cost. The inventory reserves were $0 million and $1.7 million for the years ended December 31, 2024 and 2023, respectively. Equipment Equipment, net consists of the following:
Schedule of equipment |  |  |  |  |  |  |  |  |  |  |
|  | December 31, |  |  | Estimated Useful lives |
|  | 2024 |  |  | 2023 |  |  | in years |
Computer hardware and software |  | $ | 603,836 |  |  | $ | 603,836 |  |  | 3 |
Machinery and equipment |  |  | 726,326 |  |  |  | 726,326 |  |  | 5 |
Molds, tools and dies |  |  | 1,212,398 |  |  |  | 1,242,711 |  |  | 5 |
Office furniture and fixtures |  |  | 79,147 |  |  |  | 79,147 |  |  | 5 |
|  |  | 2,621,706 |  |  |  | 2,652,020 |  |  |  |
Accumulated depreciation |  |  | (2,501,835 | ) |  |  | (2,219,515 | ) |  |  |
|  | $ | 119,871 |  |  | $ | 432,505 |  |  |  |
Depreciation expense was $282 thousand and $368 thousand for the years ended December 31, 2024 and 2023, respectively. Intangible Assets Intangible assets consisted of the following at December 31, 2024 and 2023:
Schedule of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Estimated |  |  | As of December 31, 2024 |  |  | As of December 31, 2023 |
|  | Useful |  |  | Gross |  |  |  |  |  |  |  |  | Gross |  |  |  |  |  |  |
|  | Life |  |  | Carrying |  |  | Accumulated |  |  |  |  |  | Carrying |  |  | Accumulated |  |  |  |
|  | (in years) |  |  | Amount |  |  | Amortization |  |  | Net |  |  | Amount |  |  | Amortization |  |  | Net |
Customized internal use software |  | 2.5 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Acquired web domain |  | 5.0 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 86,732 |  |  |  | (53,485 | ) |  |  | 33,247 |
|  |  |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 86,732 |  |  | $ | (53,485 | ) |  | $ | 33,247 |
Amortization expense was $33 thousand and $40 thousand in the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024, the Company has fully amortized its intangible assets. Accrued expenses Accrued expenses consists of the following:
Schedule of accrued expenses |  |  |  |  |  |  |  |
|  | December 31, |
|  | 2024 |  |  | 2023 |
Professional fees |  |  | 110,000 |  |  |  | 229,950 |
Board of Director fees |  |  | 75,000 |  |  |  | - |
Sales allowances |  |  | 26,905 |  |  |  | 697,884 |
Sales and use tax |  |  | 81,708 |  |  |  | 150,009 |
Other |  |  | - |  |  |  | - |
Total accrued other expenses |  | $ | 293,613 |  |  | $ | 1,077,843 |

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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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