XML 16 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current Assets:    
Cash and cash equivalents $ 9,686,529 $ 16,292,347
Accounts receivable 3,868,418 2,552,362
Inventory 11,278,105 5,734,755
Prepaid expenses 1,133,297 310,591
Total Current Assets 25,966,349 24,890,055
Long-Term Assets:    
Property & equipment 546,055 365,868
Intangible assets 3,019,717 1,444,259
Deferred tax asset 92,234 0
Right-of-use-asset 936,037 646,779
Total Long-Term Assets 4,594,043 2,456,906
TOTAL ASSETS 30,560,392 27,346,961
Current Liabilities:    
Accounts payable & accrued expenses 5,543,085 2,585,466
Earnout payable 295,797 2,547,831
Income tax payable 268,276 299,869
Current portion - right-of-use-liability 207,756 118,670
Total Current Liabilities 6,314,914 5,551,836
Long-Term Liabilities:    
Deferred tax liability 0 48,729
Right-of-use-liability 744,724 539,035
Total Long-Term Liabilities 744,724 587,764
TOTAL LIABILITIES 7,059,638 6,139,600
SHAREHOLDERS' EQUITY    
Preferred Stock, Series B $0.10 par value per share; 1,000,000 shares authorized; 130,000 and 10,000 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively 13,000 1,000
Common Stock, $0.001 par value per share; 3,000,000,000 shares authorized; 2,580,098 and 14,012 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively 2,580 14
Capital paid in excess of par value 93,354,907 84,415,900
Accumulated comprehensive income (829,959) 696,105
Accumulated (Deficit) (69,039,774) (63,905,658)
TOTAL SHAREHOLDERS' EQUITY 23,500,754 21,207,361
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 30,560,392 $ 27,346,961