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CONSOLIDATED BALANCE SHEETS
Dec. 31, 2023
USD ($)
Current assets  
Cash and cash equivalents $ 2,148,700
Accounts receivable 482,279
Inventories, net of reserve 1,456,275
Deferred financing costs 50,000
Prepaid expenses and other current assets 156,255
Total current assets 4,293,509
Property and equipment, net 5,650,976
Operating lease right-of-use assets 586,164
Other assets 34,359
TOTAL ASSETS 10,565,008
Current liabilities  
Accounts payable 4,744,606
Accrued expenses 2,499,657
Current portion of operating lease liability 355,385
Contract liabilities 30,400
Current portion of notes payable 2,147,992
Total current liabilities 9,778,040
Operating lease liability, net of current portion 237,369
Convertible notes payable 6,967,951
Warrant liabilities 2,238,519
TOTAL LIABILITIES 19,221,879
Commitments and Contingencies (Note 6)
Convertible preferred stock 23,889,050
Stockholders' Deficit  
Common Stock 92 [1]
Additional paid-in capital 64,744,838 [1]
Accumulated deficit (97,290,851)
Total Stockholders' Deficit (32,545,921)
TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT $ 10,565,008
[1] Amount presented as of December 31, 2023 is adjusted to reflect the 1-for-40 reverse stock split on July 23, 2024. See Note 2 – Summary of Significant Accounting Policies for additional information.