Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Schedule of reconciliation of cash, cash equivalents and restricted cash

	September 30, 2024		December 31, 2023
Cash and cash equivalents	$	1,633,166	$	1,151,823
Restricted cash		302,262		302,262
Total cash and cash equivalents and restricted cash in the condensed consolidated statements of cash flows	$	1,935,428	$	1,454,085

Schedule of inventories

	September 30, 2024			December 31, 2023
Finished goods	$	1,225,975		$	1,280,805
Total, gross		1,225,975			1,280,805
Less inventory reserve		(1,225,975	)		(1,280,805	)
Total, net of inventory reserve	$	-		$	-

Schedule of earnings per share, basic and diluted

	Basic						Diluted
	Three months ended						Three months ended
	September 30, 2024			September 30, 2023			September 30, 2024		September 30, 2023
Net income (loss)	$	8,931,078		$	(4,062,957	)	$	8,931,078	$	(4,062,957	)
Net income allocated to preferred stockholders		(690,467	)		-			-		-
Net income (loss) available to common stockholders	$	8,240,611		$	(4,062,957	)	$	8,931,078	$	(4,062,957	)
Basic weighted average shares outstanding		5,760,214			877,815			5,760,214		877,815
Dilutive effect of preferred stock								843,590		-
Dilutive weighted average shares outstanding								6,603,804		877,815
Earnings (loss) per share	$	1.43		$	(4.63	)	$	1.35	$	(4.63	)

The Company has calculated basic and diluted earnings (loss) per share for the nine months ended September 30, 2024 and 2023 as follows:

	Basic						Diluted
	Nine months ended						Nine months ended
	September 30, 2024			September 30, 2023			September 30, 2024		September 30, 2023
Net income (loss)	$	7,642,696		$	(15,626,883	)	$	7,642,696	$	(15,626,883	)
Net income allocated to preferred stockholders		(519,161	)		-			-		-
Net income (loss) available to common stockholders	$	7,123,535		$	(15,626,883	)	$	7,642,696	$	(15,626,883	)
Basic weighted average shares outstanding		2,837,744			656,585			2,837,744		656,585
Dilutive effect of preferred stock								733,761		-
Dilutive weighted average shares outstanding								3,571,505		656,585
Earnings (loss) per share	$	2.51		$	(23.80	)	$	2.14	$	(23.80	)