CONCENTRATIONS

6 Months Ended

Jun. 30, 2025

Risks and Uncertainties [Abstract]

CONCENTRATIONS

NOTE 5. CONCENTRATIONS

Cash, Cash Equivalent and Restricted Cash

The Company considers all highly liquid instruments with an original maturity of three months or less, when purchased, to be cash and cash equivalent. The majority of the Company’s cash and cash equivalent are concentrated in one large financial institution, which is in excess of Federal Deposit Insurance Corporation (FDIC) coverage.

A summary of the financial institution that had cash, cash equivalent and restricted cash in excess of FDIC limits of $250,000 on June 30, 2025 and December 31, 2024 is presented below:

	June 30, 2025		December 31, 2024
Total cash and cash equivalent in excess of FDIC limits of $250,000	$	864,242	$	943,567

The Company continually monitors its positions with, and the credit quality of, the financial institutions with which it invests, as deposits are held in excess of federally insured limits. The Company has not experienced any losses in such accounts.

The following table provides a reconciliation of cash, cash equivalent and restricted cash to amounts shown in unaudited condensed consolidated statements of cash flow:

	June 30, 2025		December 31, 2024
Cash and cash equivalent	$	1,119,875	$	1,193,567
Restricted cash		100,000		553,232
Total cash and restricted cash	$	1,219,875	$	1,746,799

Restricted Cash

The Company’s restricted cash as of June 30, 2025 consisted of cash balances which were restricted as to withdrawal or usage under the August 18, 2022 securities purchase agreement for the purpose of funding any amounts due under the Series E Certificate of Designation upon the redemption of the Series E Preferred Stock. The December 31, 2024 balance also included cash held in the collateral account to cover the cash draw from the line of credit.