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BALANCE SHEET COMPONENTS

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

(4) BALANCE SHEET COMPONENTS

Inventories

Inventories, net consists of the following:

Schedule of inventories
	December 31,
	2024		2023
Materials	$	-	$	210,318
Work in process		-		1,640,347
Finished goods		-		8,101,982
Total	$	-	$	9,952,647

The Company reviews inventory for obsolete and slow-moving products each quarter and makes provisions based on its estimate of the probability that the material will not be consumed or that it will be sold below cost. The inventory reserves were $0 million and $1.7 million for the years ended December 31, 2024 and 2023, respectively.

Equipment

Equipment, net consists of the following:

Schedule of equipment
	December 31,						Estimated Useful lives
	2024			2023			in years
Computer hardware and software	$	603,836		$	603,836		3
Machinery and equipment		726,326			726,326		5
Molds, tools and dies		1,212,398			1,242,711		5
Office furniture and fixtures		79,147			79,147		5
		2,621,706			2,652,020
Accumulated depreciation		(2,501,835	)		(2,219,515	)
	$	119,871		$	432,505

Depreciation expense was $282 thousand and $368 thousand for the years ended December 31, 2024 and 2023, respectively.

Intangible Assets

Intangible assets consisted of the following at December 31, 2024 and 2023:

Schedule of intangible assets
	Estimated	As of December 31, 2024						As of December 31, 2023
	Useful	Gross						Gross
	Life	Carrying		Accumulated				Carrying		Accumulated
	(in years)	Amount		Amortization		Net		Amount		Amortization			Net
Customized internal use software	2.5	$	-	$	-	$	-	$	-	$	-		$	-
Acquired web domain	5.0		-		-		-		86,732		(53,485	)		33,247
		$	-	$	-	$	-	$	86,732	$	(53,485	)	$	33,247

Amortization expense was $33 thousand and $40 thousand in the years ended December 31, 2024 and 2023, respectively.

As of December 31, 2024, the Company has fully amortized its intangible assets.

Accrued expenses

Accrued expenses consists of the following:

Schedule of accrued expenses
	December 31,
	2024		2023
Professional fees		110,000		229,950
Board of Director fees		75,000		-
Sales allowances		26,905		697,884
Sales and use tax		81,708		150,009
Other		-		-
Total accrued other expenses	$	293,613	$	1,077,843