Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash $ 5,807,631 $ 7,983,346
Restricted cash 105,000 210,000
Accounts receivable, net of allowance for doubtful accounts of $43,501 and $70,359 at September 30, 2024 and December 31, 2023, respectively 347,008 203,303
Inventory 1,529,509 8,973,134
Inventory deposits 418,991 258,316
Prepaid expenses and other current assets 472,838 1,904,197
Total current assets 8,680,977 19,532,296
Long-term assets:    
Property and equipment, net 285,127 1,258,607
Other long-term assets 199,281 199,281
Right-of-use assets - operating leases 841,194 1,136,213
Total assets 10,006,579 22,126,397
Current liabilities:    
Accounts payable 255,564 831,184
Accrued liabilities 1,518,194 3,128,906
Vendor settlements - short-term 1,851,639 0
Current portion of notes payable 6,980 15,278
Convertible notes, net of discount and issuance costs 0 30,149,579
Warrant liabilities 17,245 5,971,067
Right-of-use operating lease liabilities - short-term 432,059 399,611
Customer deposits 106,323 417,485
Total current liabilities 4,188,004 40,913,110
Notes payable, net of current portion 30,405 69,138
Vendor settlements - long-term 282,230 0
Right-of-use operating lease liabilities - long-term 447,717 775,170
Total liabilities 4,948,356 41,757,418
COMMITMENTS AND CONTINGENCIES  
Stockholders’ equity (deficit):    
Preferred stock: $0.00001 par value, 5,000,000 shares authorized, 25,000 shares designated, no shares issued and outstanding as of September 30, 2024 and December 31, 2023 0 0
Common stock: $0.00001 par value, 250,000,000 shares authorized, 657,730 shares issued and outstanding as of September 30, 2024 and 1,291 shares issued and outstanding as of December 31, 2023 6 0
Additional paid-in capital 166,157,295 101,175,117
Accumulated deficit (161,099,078) (120,806,138)
Total stockholders’ equity (deficit) 5,058,223 (19,631,021)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 10,006,579 $ 22,126,397