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Condensed Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 3,218,067 $ 3,451,761
Accounts receivable, net 254,584 488,373
Inventory 5,232,738 3,046,323
Prepaid and other current assets 1,045,591 1,035,993
Total current assets 9,750,980 8,022,450
Property and equipment, at cost:    
Leasehold improvements 1,238,886 1,238,886
Office equipment 68,530 60,921
Furniture and fixtures 417,876 417,876
Machinery and equipment 3,211,109 2,856,740
Construction in progress 548,426 762,445
Property and equipment, gross 5,484,827 5,336,868
Less accumulated depreciation (3,884,964) (3,740,769)
Net property and equipment 1,599,863 1,596,099
Long-term assets:    
Lease right-of-use assets, net 1,544,724 1,805,543
Intangible assets, net of accumulated amortization 55,638 65,918
Other long-term assets 829,204 954,992
Total long-term assets 2,429,566 2,826,453
Total assets 13,780,409 12,445,002
Current liabilities:    
Accounts payable 3,263,584 1,419,044
Accrued expenses 1,052,752 1,151,049
Convertible notes payable, net (including related parties) 6,080,813 5,406,228
Clinical holdback – current portion 63,990 88,581
Operating lease liabilities – current portion 502,468 517,967
Total current liabilities 10,963,607 8,582,869
Long-term liabilities:    
Clinical holdback – long-term portion 40,348 39,611
Lease liabilities – long-term portion 1,269,019 1,518,100
Total long-term liabilities 1,309,367 1,557,711
Total liabilities 12,272,974 10,140,580
Commitments and contingencies
Stockholders’ equity:    
Common stock, $.001 par, 200,000,000 authorized, 32,692,630 shares issued and 32,575,407 outstanding as of June 30, 2025; and 23,473,149 shares issued and 23,355,926 outstanding as of December 31, 2024 32,693 23,473
Treasury stock, 117,223 common shares (60,000) (60,000)
Warrants 1,821,744 1,860,008
Additional paid-in-capital 137,394,016 127,679,198
Accumulated deficit (137,681,018) (127,198,257)
Total stockholders’ equity 1,507,435 2,304,422
Total liabilities and stockholders’ equity $ 13,780,409 $ 12,445,002