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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 415,131 $ 680,549
Accounts receivable – trade, net of $176,227 allowance – September 30, 2024 and $200,668 – December 31, 2023 1,593,622 1,584,662
Other receivables, net of $25,000 allowance – September 30, 2024 and $5,000 – December 31, 2023 3,659,913 3,107,634
Inventories, net 2,325,118 3,845,281
Prepaid expenses 6,325,183 6,366,368
Total current assets 14,318,967 15,584,494
Property, plant, and equipment, net 444,603 7,283,702
Goodwill and other intangible assets, net 11,150,545 16,510,422
Operating lease right of use assets, net 515,538 1,053,159
Other assets 5,833,516 6,597,032
Total assets 32,263,169 47,028,809
Current liabilities:    
Accounts payable 12,247,613 10,732,089
Accrued expenses 3,596,680 3,269,330
Current portion of operating lease obligations 82,974 279,538
Contract liabilities – current portion 4,068,578 2,937,168
Notes payable – related party – current portion 2,800,000 2,700,000
Debt obligations – current portion 3,438,910 1,260,513
Warrant derivative liabilities 1,266,073 1,369,738
Income taxes payable 61
Total current liabilities 27,500,828 22,548,437
Long-term liabilities:    
Debt obligations – long term 141,949 4,853,237
Operating lease obligation – long term 432,563 827,836
Contract liabilities – long term 6,625,694 7,340,459
Lease Deposit 10,445 10,445
Total liabilities 34,711,479 35,580,414
Commitments and contingencies
Stockholders’ Equity (Deficit):    
Preferred stock, $0.001 par value per share; 10,000,000 shares authorized; none issued or outstanding at September 30, 2024 and December 31, 2023
Common stock, $0.001 par value per share; 200,000,000 shares authorized; shares issued: 4,025,092 shares issued – September 30, 2024 and 2,800,752 shares issued – December 31, 2023 4,025 2,801
Additional paid in capital 128,967,685 128,441,083
Noncontrolling interest in consolidated subsidiary (1,265,852) 673,292
Accumulated deficit (130,154,168) (117,668,781)
Total stockholders’ equity (deficit) (2,448,310) 11,448,395
Total liabilities and stockholders’ equity (deficit) $ 32,263,169 $ 47,028,809