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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (3,465,058) $ (3,835,632)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation 158,442 29,685
Stock-based compensation 540,204 320,288
Accretion of discount on short-term investments (11,747) (49,053)
Credit losses 51,643 0
Amortization of deferred debt origination cost 29,039 0
Amortization of right-of-use assets 288,951 58,658
Other non-cash changes (34,171) 63,930
Changes in operating assets and liabilities:    
Accounts receivable (637,054) 718,676
Inventories (550,772) (597,087)
Prepaid expenses and other current assets (628,186) 6,897
Other assets (70,210) 0
Accounts payable and accrued expenses 1,440,877 87,041
Operating lease liabilities 164,405 (115,191)
Deferred revenue 46,738 (11,181)
Income taxes payable 0 77,405
Net cash used in operating activities (2,676,899) (3,245,564)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of equipment (670,688) (59,808)
Maturities of short-term investments 0 2,000,000
Purchases of short-term investments (1,225,410) (5,482,757)
Net cash provided by (used in) investing activities (1,896,098) (3,542,565)
CASH FLOWS FROM FINANCING ACTIVITIES    
Deferred debt origination costs (36,506) 0
Net proceeds from common stock offering 0 4,598,771
Proceeds from sale of pre-funded warrants, net of offering costs 0 763,138
Net cash (used in) provided by financing activities (36,506) 5,361,909
Effect of foreign exchange rate changes on cash 30,929 (10,360)
Net increase in cash and cash equivalents (4,578,574) (1,436,580)
Cash and cash equivalents beginning of year 24,747,373 6,871,306
Cash, cash equivalents and restricted cash end of year $ 20,168,799 $ 5,434,726