Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 444,706 $ 1,105,291
Accounts and other receivables, net 963,744 1,139,204
Inventory 38,782 27,608
Prepaid expenses and other current assets 416,550 422,995
Total current assets 1,863,782 2,695,098
Non-current assets:    
Property and equipment, net 382,409 375,385
Operating lease right-of-use asset, net 431,746 463,011
Finance lease right-of-use asset, net 684,629 780,872
Goodwill 1,404,486 1,404,486
Intangible assets, net 760,556 775,139
Other assets 19,675 19,676
Total assets 5,547,283 6,513,667
Current liabilities:    
Accounts payable 1,381,578 987,311
Accrued expenses 1,370,735 1,398,722
Unearned revenue 24,404 24,404
Operating lease liability, current portion 130,342 127,498
Finance lease liability, current portion 403,584 395,301
Notes payable, current portion 104,766 171,669
Total current liabilities 3,415,409 3,104,905
Non-current liabilities    
Operating lease liability, net of current portion 308,415 342,098
Finance lease liability, net of current portion 335,899 444,448
Notes payable, net of current portion 48,156 20,180
Total liabilities 4,107,879 3,911,631
Commitments and contingencies (See Note 11)
Stockholders’ equity:    
Preferred stock, no shares issued or outstanding at March 31, 2025, and December 31, 2024, respectively
Common stock, par value $0.007 per share; 100,000,000 shares authorized; 18,255,825 and 15,576,674 shares issued and outstanding as of March 31, 2025, and December 31, 2024, respectively 124,777 106,593
Additional paid-in capital 57,619,354 56,139,753
Accumulated deficit (56,304,727) (53,644,310)
Total stockholders’ equity 1,439,404 2,602,036
Total liabilities, and stockholders’ equity $ 5,547,283 $ 6,513,667