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Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 21,716,077 $ 12,961,936
Accounts receivable, net 98,906 77,470
Inventory, net 667,118 436,723
Prepaid and other current assets 695,879 655,362
Total current assets 23,177,980 14,131,491
Property and equipment, at cost:    
Leasehold improvements 1,212,417 1,195,637
Office equipment 47,308 99,344
Furniture and fixtures 414,303 419,303
Machinery and equipment 2,559,356 2,572,243
Construction in progress 423,077 413,843
Property and equipment, gross 4,656,461 4,700,370
Less accumulated depreciation (3,545,422) (3,217,319)
Net property and equipment 1,111,039 1,483,051
Long-term assets:    
Lease right-of-use assets, net 2,380,225 319,557
Intangible assets, net of accumulated amortization 0 3,294
Other long-term assets 1,086,581 958,177
Total long-term assets 3,466,806 1,281,028
Total assets 27,755,825 16,895,570
Current liabilities:    
Accounts payable 1,137,823 510,758
Accrued expenses 1,444,296 456,714
Note payable 0 141,298
Clinical holdback - current portion 65,300 45,206
Lease liabilities - current portion 406,636 373,833
Total current liabilities 3,054,055 1,527,809
Long-term liabilities:    
Clinical holdback - long-term portion 54,935 96,658
Convertible Notes Payable, net (including related parties) 4,258,179 0
Lease liabilities - long-term portion 2,036,067 28,584
Total long-term liabilities 6,349,181 125,242
Total liabilities 9,403,236 1,653,051
Commitments and contingencies
Stockholders' equity:    
Common stock, $.001 par, 200,000,000 authorized, 21,774,604 shares issued and 21,657,381 outstanding as of December 31, 2023; and 11,986,927 shares issued and 11,869,704 outstanding as of December 31, 2022 21,775 11,987
Treasury stock, 117,223 common shares (60,000) (60,000)
Warrants 2,787,137 567,972
Additional paid-in-capital 123,985,306 108,857,065
Accumulated deficit (108,381,629) (94,134,505)
Total stockholders' equity 18,352,589 15,242,519
Total liabilities and stockholders' equity $ 27,755,825 $ 16,895,570