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Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 454,314 $ 680,549
Accounts receivable-trade, less allowance for doubtful accounts of $314,304 – 2024 and $200,668 – 2023 1,301,253 1,584,662
Other receivables, net of $25,000 allowance – 2024 and $5,000 - 2023 4,144,845 3,107,634
Inventories, net 2,586,066 3,845,281
Prepaid expenses 1,867,258 6,366,368
Total current assets 10,353,736 15,584,494
Property, plant, and equipment, net 365,857 7,283,702
Goodwill and other intangible assets, net 10,654,325 16,510,422
Operating lease right of use assets, net 718,509 1,053,159
Other assets 5,644,146 6,597,032
Total assets 27,736,573 47,028,809
Current liabilities:    
Accounts payable 11,486,947 10,732,089
Accrued expenses 1,514,508 3,269,330
Current portion of operating lease obligations 158,304 279,538
Contract liabilities – current 4,215,401 2,937,168
Notes payable – related party – current portion 2,840,000 2,700,000
Debt obligations – current 4,961,443 1,260,513
Warrant derivative liabilities 4,554,640 1,369,738
Income taxes payable 61
Total current liabilities 29,731,243 22,548,437
Long-term liabilities:    
Debt obligations – long term 141,083 4,853,237
Operating lease obligation – long term 560,205 827,836
Contract liabilities – long term 6,317,472 7,340,459
Lease deposit 10,445
Total liabilities 36,750,003 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 – 2024 and 2023
Common stock, $0.001 par value; 200,000,000 shares authorized; shares issued: 5,807,596 – 2024 and 2,800,754 – 2023 5,808 2,801
Additional paid in capital 129,691,976 128,441,083
Noncontrolling interest in consolidated subsidiary (1,198,286) 673,292
Accumulated deficit (137,512,928) (117,668,781)
Total equity (deficit) (9,013,430) 11,448,395
Total liabilities and equity (deficit) $ 27,736,573 $ 47,028,809