v3.25.2
BALANCE SHEETS(Unaudited) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 8,054,716 $ 9,580,947
Accounts receivable less allowance for credit losses of $0 as of June 30, 2025 and December 31, 2024 4,929,071 5,720,750
Inventory 3,947,843 2,803,669
Other receivables 161,190 277,193
Prepaid expenses 486,524 749,851
TOTAL CURRENT ASSETS 17,579,344 19,132,410
Property and equipment, net 4,370,629 4,290,515
Intangible assets, net of accumulated amortization of $493,244 and $458,538 as of June 30, 2025 and December 31, 2024, respectively 698,974 730,279
Operating lease right-of-use assets 2,768,376 2,966,341
Other assets 98,970 98,970
TOTAL ASSETS 25,516,293 27,218,515
CURRENT LIABILITIES    
Accounts payable 1,094,539 1,649,969
Accrued expenses 3,635,525 3,924,184
Note payable 271,152
Other liabilities 104,102 29,269
Accrued payroll and related taxes 688,942 811,401
Financing lease liability – current 118,647 115,587
Operating lease liability – current 409,019 400,258
TOTAL CURRENT LIABILITIES 6,050,774 7,201,820
Financing lease liability, net of current portion 145,469 202,613
Operating lease liability, net of current portion 2,793,676 3,000,403
TOTAL LIABILITIES 8,989,919 10,404,836
STOCKHOLDERS’ EQUITY    
Common stock, $0.01 par value, 75,000,000 shares authorized, 49,655,459 and 49,377,617 shares issued 46,234,957 and 45,957,115 shares outstanding as of June 30, 2025, and December 31, 2024, respectively 496,555 493,776
Additional paid-in capital 50,664,323 49,581,303
Treasury stock, 3,438,526 shares as of June 30, 2025 and December 31, 2024, at cost (3,882,494) (3,882,494)
Accumulated deficit (30,752,010) (29,378,906)
TOTAL STOCKHOLDERS’ EQUITY 16,526,374 16,813,679
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 25,516,293 $ 27,218,515

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