Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 1,105,291 $ 2,821,570
Accounts and other receivables, net 1,139,204 811,674
Inventory 27,608 18,484
Prepaid expenses and other current assets 422,995 321,017
Total current assets 2,695,098 3,972,745
Non-current assets:    
Property and equipment, net 375,385 458,633
Operating lease right-of-use asset, net 463,011 370,312
Finance lease right-of-use asset, net 780,872 1,165,844
Goodwill 1,404,486 1,404,486
Intangible assets, net 775,139 833,472
Other assets 19,676 16,060
Total assets 6,513,667 8,221,552
Current liabilities:    
Accounts payable 987,311 604,789
Accrued expenses 1,398,722 1,149,811
Unearned revenue 24,404 33,058
Operating lease liability, current portion 127,498 94,708
Finance lease liability, current portion 395,301 365,463
Notes payable, current portion 171,669
Total current liabilities 3,104,905 2,247,829
Non-current liabilities    
Operating lease liability, net of current portion 342,098 283,001
Finance lease liability, net of current portion 444,448 835,467
Notes payable, net of current portion 20,180
Total liabilities 3,911,631 3,366,297
Commitments and contingencies (See Note 11)
Stockholders’ equity:    
Preferred stock, no shares issued or outstanding at December 31, 2024 and 2023, respectively
Common stock, par value $0.007 per share; 100,000,000 shares authorized; 15,576,674 and 9,394,610 shares issued and outstanding as of December 31, 2024 and 2023, respectively 106,593 65,762
Additional paid-in capital 56,139,753 49,393,972
Accumulated deficit (53,644,310) (44,604,479)
Total stockholders’ equity 2,602,036 4,855,255
Total liabilities, and stockholders’ equity $ 6,513,667 $ 8,221,552