Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEET

v3.24.1.1.u2
CONDENSED CONSOLIDATED BALANCE SHEET - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash $ 11,188,856 $ 20,939,762
Accounts receivable 1,667,856 2,233,211
Inventory 697,721 795,164
Prepaid expenses and other assets 115,768 183,621
Total current assets 13,670,201 24,151,758
Security deposits 3,500 5,175
Property and equipment, net 1,595,423 1,595,958
Right of use asset - operating lease 161,728 10,639
Intellectual property, net 1,652,913 1,704,063
Total assets 17,083,765 27,467,593
Current liabilities    
Accounts payable and accrued expenses (related party $101,601 and $107,454 at March 31, 2024 and December 31, 2023, respectively) 1,594,290 1,558,450
Income tax payable 437,821 437,821
Current portion of operating lease liability 22,960 11,157
Customer credits 167,000 167,000
Accrued salaries 32,516 8,936
Unsecured note payable, net of discount and issuance costs - related party 3,179,441 0
Total current liabilities 5,434,028 2,183,364
Operating lease liability, net of current portion 138,768 0
Secured note payable, net of discount - related party 0 239,466
Unsecured note payable, net of discount and issuance costs - related party 0 10,979,723
Profit share liability - related party 3,255,446 14,847,937
Total liabilities 8,828,242 28,250,490
Stockholders' Equity (deficit)    
Preferred stock, $0.001 par value: 2,000,000 shares authorized, no shares issued 0 0
Common stock, $0.001 par value; 150,000,000 shares authorized 94,369,392 and 94,360,107 shares issued and outstanding as of December 31, 2023 and December 31, 2022 respectively. 94,369 94,360
Additional paid-in capital 73,514,521 61,917,119
Accumulated deficit (65,353,367) (62,794,376)
Total stockholders' equity (deficit) 8,255,523 (782,897)
Total liabilities and stockholders' equity (deficit) $ 17,083,765 $ 27,467,593