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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash $ 836,556 $ 646,500
Accounts receivable, net 2,552 25,717
Inventories 151,556 64,079
Prepaid expenses and other current assets 311,362 213,971
Total current assets 1,302,026 950,267
Property and equipment, net 40,388 62,896
Deferred offering costs 150,000
Operating right of use asset 6,155 119,427
Goodwill 18,180,299 27,048,973
Total assets 19,678,868 28,181,563
Current liabilities    
Accounts payable 1,804,163 3,787,564
Accrued expenses 476,289 888,988
Notes payable, net of debt discount of $0 and $4,966 at September 30, 2025 and December 31, 2024, respectively 160,267 9,328,061
Operating lease liability, current 6,155 119,427
Subscription agreement liability – Related Party 4,123,000
Contingent warrant liabilities 53,149 43,089
Warrant liabilities 12,815,000
Derivative liabilities 988,000
Total current liabilities 16,303,023 18,290,129
Pension benefit obligation 280,879
Total liabilities 16,303,023 18,571,008
Commitments and Contingencies
Stockholders’ equity    
Common stock, $0.00001 par value, 250,000,000 shares authorized at September 30, 2025 and December 31, 2024; 1,560,820 and 138,422 the shares issued at September 30, 2025 and December 31, 2024, respectively; 1,560,668 and 138,270 shares outstanding at September 30, 2025 and December 31, 2024, respectively 15 1
Additional paid-in capital 141,431,240 127,825,743
Treasury stock, at cost; 152 shares of common stock at September 30, 2025 and December 31, 2024 (625,791) (625,791)
Due from shareholders (250,308)
Accumulated deficit (136,884,245) (115,683,621)
Accumulated other comprehensive loss (547,098) (2,723,397)
Total stockholders’ equity 3,374,121 8,542,627
Total liabilities, convertible preferred stock, and stockholders’ equity 19,678,868 28,181,563
Series C Redeemable Preferred Stock    
Current liabilities    
Series C Redeemable Preferred Stock, $0.00001 par value, 10,000 shares authorized, 7 and 3,499 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 1,724 1,067,928
Series D Preferred Stock    
Stockholders’ equity    
Series D Preferred Stock, $0.00001 par value, 32,000 and 0 shares authorized at September 30, 2025 and December 31, 2024, respectively; 16,325 and 0 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively.