v3.25.2
Condensed Consolidated Statements Of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Condensed Consolidated Statements Of Operations [Abstract]        
Sales $ 13,064,254 $ 13,549,420 $ 25,700,892 $ 26,768,617
Cost of sales 8,224,737 8,757,066 16,430,050 17,170,815
Gross profit 4,839,517 4,792,354 9,270,842 9,597,802
Operating expenses:        
Selling, general and administrative expenses 6,443,729 6,558,923 12,483,027 13,187,950
Amortization expense 559,375 709,375 1,118,750 1,418,750
Fair value remeasurement of SUNation earnout consideration   (450,000)   (800,000)
Total operating expenses 7,003,104 6,818,298 13,601,777 13,806,700
Operating loss (2,163,587) (2,025,944) (4,330,935) (4,208,898)
Other (expense) income:        
Investment and other income 27,661 27,325 75,826 73,166
Gain on sale of assets       6,118
Fair value remeasurement of warrant liability (7,531,044) (3,267,571) (7,531,044) 461,022
Fair value remeasurement of embedded derivative liability   (1,055,600)   (1,055,600)
Fair value remeasurement of contingent forward contract 789,588   899,080  
Fair value remeasurement of contingent value rights 6,271 116,775 25,450 492,860
Financing fees (559,938)   (1,136,532)  
Interest expense (162,130) (735,633) (733,370) (1,500,503)
Loss on debt extinguishment     (343,471)  
Other expense, net (7,429,592) (4,914,704) (8,744,061) (1,522,937)
Net loss before income taxes (9,593,179) (6,940,648) (13,074,996) (5,731,835)
Income tax expense (benefit) 14,236 (6,633) 28,851 (471)
Net loss (9,607,415) (6,934,015) (13,103,847) (5,731,364)
Deemed dividend on extinguishment of Convertible Preferred Stock       (751,125)
Deemed dividend on modification of PIPE Warrants       (10,571,514)
Net loss attributable to common shareholders $ (9,607,415) $ (6,934,015) $ (13,103,847) $ (17,054,003)
Basic net loss per share [1] $ (3.14) $ (11,022.91) $ (8.42) $ (38,216.49)
Diluted net loss per share [1] $ (3.14) $ (11,022.91) $ (8.42) $ (38,216.49)
Weighted Average Basic Shares Outstanding [1] 3,063,743 629 1,556,627 446
Weighted Average Dilutive Shares Outstanding [1] 3,063,743 629 1,556,627 446
[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.

Source