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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalent $ 3,353,326 $ 5,081,086
Accounts receivable, net 157,335 128,171
Inventories 3,997,246 4,228,889
Prepaid expenses and vendor deposits 2,338,846 1,668,324
Assets held for sale 543,854
Other current assets 97,142 65,556
Restricted cash 553,232 553,232
TOTAL CURRENT ASSETS 11,040,981 11,725,258
Property, plant, and equipment, net of accumulated depreciation 2,078,451 2,735,252
Intangible assets, net of accumulated amortization 3,896,098 4,376,682
Right of use asset – operating lease, net 10,017,442 11,511,002
Other assets 579,419 621,385
TOTAL ASSETS 27,612,391 30,969,579
CURRENT LIABILITIES    
Accounts payable and accrued expenses 7,853,149 8,024,664
Contract liabilities 123,375 207,513
Line of credit 453,232 453,232
Current portion of loan payment 2,495,340 702,701
Operating lease liability, current 2,705,382 2,842,829
TOTAL CURRENT LIABILITIES 13,630,478 12,230,939
Loan payable, net of current portion 2,036,367 2,403,807
Operating lease liability, net of current 7,182,322 8,465,617
TOTAL LIABILITIES 22,849,167 23,100,363
COMMITMENTS AND CONTINGENCIES (SEE NOTE 13)
CONVERTIBLE PREFERRED STOCK    
Series E redeemable convertible preferred stock, $1,000 par value per share, 14,722 shares authorized, 1,111 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively; aggregate liquidation preference of $1.1 million as of June 30, 2024 and December 31, 2023, respectively. 1,111,100 1,111,100
STOCKHOLDERS’ EQUITY    
Common Stock, $0.0001 par value per share, 750,000,000,000 shares authorized; 479,266,632,384 and 478,266,632,384 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. 47,926,663 47,826,663
Additional paid-in capital 23,190,107 21,028,274
Accumulated deficit (67,464,646) (62,096,821)
TOTAL STOCKHOLDERS’ EQUITY 3,652,124 6,758,116
TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY $ 27,612,391 $ 30,969,579