Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.4
Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Cash $ 1,152,540 $ 2,564,237
Accounts receivable, net of allowance for credit losses of $487,342 and $13,000 at December 31, 2023 and 2022, respectively 10,239,570 16,810,659
Inventory 21,941,803 40,365,286
Prepaid and other current assets 168,122 369,792
Total Current Assets 33,502,035 60,109,974
Property and equipment, net 13,776,672 17,500,383
Right of use assets 2,833,268 4,415,859
Other assets 1,678,209 1,890,780
Total Assets 51,790,184 83,916,996
Current Liabilities    
Accounts payable 46,954,346 28,571,272
Accrued expenses 5,277,503 3,010,914
Short term lease liability 1,512,503 959,630
Short term loan payable 288,588 973,583
Warrant and preferred investment option liabilities 4,120,593 16,116,273
Total Current Liabilities 60,123,633 50,731,672
Long term lease liability 1,387,578 3,477,380
Total Liabilities 61,511,211 54,209,052
Shareholders’ Equity (Deficit)    
Common stock, $0.0001 par value, 200,000,000 shares authorized, 567,927 shares and 216,600 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively 57 22
Additional paid-in capital 181,598,810 174,660,975
Accumulated other comprehensive income 82,472
Accumulated deficit (191,402,366) (144,953,053)
Total Shareholders’ Equity (Deficit) (9,721,027) 29,707,944
Total Liabilities and Shareholders’ Equity (Deficit) 51,790,184 83,916,996
Related Party    
Current Liabilities    
Related party payables 1,970,100 1,100,000
Series C Preferred Stock    
Shareholders’ Equity (Deficit)    
Preferred stock value
Series D Preferred Stock    
Shareholders’ Equity (Deficit)    
Preferred stock value
Series E Preferred Stock    
Shareholders’ Equity (Deficit)    
Preferred stock value
Series F Preferred Stock    
Shareholders’ Equity (Deficit)    
Preferred stock value
Series G Preferred Stock    
Shareholders’ Equity (Deficit)    
Preferred stock value
Series H Preferred Stock    
Shareholders’ Equity (Deficit)    
Preferred stock value