v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 3,186,757 $ 839,268
Restricted cash and cash equivalents 286,630 312,080
Trade accounts receivable, less allowance for credit losses of $215,738 and $240,817, respectively 3,298,944 4,881,094
Inventories 2,321,966 2,707,643
Prepaid income taxes 15,776  
Related party receivables 23,039 23,471
Prepaid expenses 1,028,996 1,587,464
Costs and estimated earnings in excess of billings 604,077 560,648
Other current assets 185,227 198,717
TOTAL CURRENT ASSETS 10,951,412 11,110,385
PROPERTY, PLANT AND EQUIPMENT, net 1,107,372 1,238,898
OTHER ASSETS:    
Goodwill 17,443,869 17,443,869
Operating lease right of use asset, net 3,513,114 3,686,747
Intangible assets, net 11,102,083 12,220,833
Other assets, net 12,000 12,000
TOTAL OTHER ASSETS 32,071,066 33,363,449
TOTAL ASSETS 44,129,850 45,712,732
CURRENT LIABILITIES:    
Accounts payable 6,406,277 8,032,769
Accrued compensation and benefits 783,430 796,815
Operating lease liability 327,454 321,860
Accrued warranty 190,411 350,013
Other accrued liabilities 1,318,915 1,055,995
Accrued loss contingencies   1,300,000
Income taxes payable   5,071
Refundable customer deposits 1,533,688 1,870,173
Billings in excess of costs and estimated earnings 421,474 444,310
Contingent value rights 286,630 312,080
Earnout consideration   2,500,000
Current portion of loans payable 330,112 3,139,113
Current portion of loans payable - related party 1,203,401 6,951,563
Embedded derivative liability   82,281
TOTAL CURRENT LIABILITIES 12,801,792 27,162,043
LONG-TERM LIABILITIES:    
Loans payable and related interest 1,172,996 6,531,650
Loans payable and related interest - related party 4,328,137  
Operating lease liability 3,308,028 3,471,623
Accrued compensation and benefits 416,855  
TOTAL LONG-TERM LIABILITIES 9,226,016 10,003,273
COMMITMENTS AND CONTINGENCIES (Note 6)
STOCKHOLDERS' EQUITY    
Common stock, par value $0.05 per share; 1,000,000,000 shares authorized; 3,406,614 and 9,343 shares issued and outstanding, respectively [1] 170,331 467
Additional paid-in capital [1] 77,934,604 51,445,995
Accumulated deficit (56,002,893) (42,899,046)
TOTAL STOCKHOLDERS' EQUITY 22,102,042 8,547,416
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 44,129,850 45,712,732
Series A Convertible Preferred Stock [Member]    
STOCKHOLDERS' EQUITY    
Preferred stock, par value $1.00 per share;
Series B Preferred Stock [Member]    
STOCKHOLDERS' EQUITY    
Preferred stock, par value $1.00 per share;
Series D Preferred Stock [Member]    
STOCKHOLDERS' EQUITY    
Preferred stock, par value $1.00 per share;
[1] Prior period results have been adjusted to reflect the reverse stock split of the common stock at a ratio of 1-for-200 that became effective April 21, 2025, the reverse stock split of the common stock at a ratio of 1-for-50 that became effective October 17, 2024 and the reverse stock split of the common stock at a ratio of 1-for-15 that became effective June 12, 2024. See Note 1, "Nature of Operations," for further details.

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