XML 25 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 2,148,700 $ 2,880,254
Accounts receivable 482,279 327,200
Inventories, net of allowance of $1,133,457 and $292,990, respectively 1,456,275 972,695
Deferred financing costs 50,000 4,258,515
Prepaid expenses and other current assets 156,255 46,737
Total current assets 4,293,509 8,485,401
Property and equipment, net 5,650,976 3,771,849
Construction in progress 0 188,912
Right-of-use assets 586,164 641,651
Other assets 34,359 34,359
TOTAL ASSETS 10,565,008 13,122,172
Current liabilities    
Accounts payable 4,744,606 4,456,587
Accrued expenses 2,750,305 2,312,118
Current portion of operating lease liability 355,385 343,049
Contract liabilities 30,400 178,750
Current portion of notes payable 2,147,992 0
Current portion of convertible notes payable 0 7,300,000
Total current liabilities 10,028,688 14,590,504
Operating lease liability 237,369 373,907
Convertible notes payable 6,713,241 0
Warrant liabilities 2,238,519  
TOTAL LIABILITIES 19,217,817 14,964,411
Commitments and Contingencies (Note 6)
Stockholders' Deficit    
Convertible preferred stock, $0.0001 par value; 50,000,000 shares authorized; 2,388,905 and 23,237,703 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively 239 4,040
Common stock, $0.0001 par value; 250,000,000 shares authorized; 36,894,323 and 5,556,857 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively 3,689 1,077
Additional paid-in capital 73,241,955 59,344,952
Accumulated deficit (81,898,692) (61,192,308)
Total Stockholders' Deficit (8,652,809) (1,842,239)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 10,565,008 $ 13,122,172