v3.25.0.1
BALANCE SHEETS - USD ($)
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 9,580,947 $ 11,482,240
Accounts receivable, net 5,720,750 4,045,211
Inventory 2,803,669 3,481,301
Other receivables 277,193 28,889
Prepaid expenses and other current assets 749,851 1,218,288
TOTAL CURRENT ASSETS 19,132,410 20,255,929
Property and equipment, net 4,290,515 3,837,657
Intangible assets, net of accumulated amortization of $458,538 and $390,341 at December 31, 2024 and December 31, 2023, respectively 730,279 754,361
Operating lease right-of-use assets 2,966,341 3,514,055
Other assets 98,970 98,970
TOTAL ASSETS 27,218,515 28,460,972
CURRENT LIABILITIES    
Accounts payable 1,649,969 975,193
Accrued expenses 3,924,184 1,711,427
Note payable 271,152 314,344
Other liabilities 29,269 512,520
Accrued payroll and related taxes 811,401 462,941
Finance lease liability – current 115,587 109,540
Operating lease liability – current 400,258 368,313
TOTAL CURRENT LIABILITIES 7,201,820 4,454,278
Finance lease liability, net current portion 202,613 316,623
Operating lease liability, net of current portion 3,000,403 3,336,300
TOTAL LIABILITIES 10,404,836 8,107,201
STOCKHOLDERS’ EQUITY    
Common stock, $0.01 par value, 75,000,000 shares authorized, 49,377,617 and 49,089,864 shares issued; 45,957,115 and 45,669,362 shares outstanding at December 31, 2024, and December 31, 2023, respectively 493,776 490,899
Additional paid-in capital 49,581,303 47,018,707
Treasury stock, 3,438,526 and 3,420,502 shares at December 31, 2024 and December 31, 2023, respectively, at cost (3,882,494) (3,843,562)
Accumulated Deficit (29,378,906) (23,312,273)
TOTAL STOCKHOLDERS’ EQUITY 16,813,679 20,353,771
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 27,218,515 $ 28,460,972

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