Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2024
Dec. 31, 2023
 CURRENT ASSETS:    
 Cash $ 506,114 $ 2,441,842
 Accounts receivable, net 128,795 1,462,463
 Contract assets 1,139,395 641,947
 Inventory 1,060,373 1,526,165
 Prepaid expenses and other current assets 436,066 184,478
 Note receivable, net 157,500 0
 Total Current Assets 3,428,243 6,256,895
 Property and equipment, net 1,736,407 726,507
 Operating lease right of use asset 4,204,593 4,373,155
 Security deposit 500,000 550,000
 OTHER ASSETS:    
 Note receivable, net 0 153,750
 Intangible asset, net 10,688,359 0
 Patents and trademarks, net 128,371 129,140
 Software development costs, net 524,225 652,838
 Total Other Assets 11,340,955 935,728
 TOTAL ASSETS 21,210,198 12,842,285
 CURRENT LIABILITIES:    
 Accounts payable 849,497 595,634
 Notes payable - financing agreements 241,452 41,976
 Accrued expenses 252,024 164,113
 Operating lease obligations-current portion 788,801 779,087
 Contract liabilities, current 3,676,567 1,666,243
 Total Current Liabilities 5,808,341 3,247,053
 Contract liabilities, less current portion 8,495,876 0
 Operating lease obligations, less current portion 4,052,527 4,228,718
 Total Liabilities 18,356,744 7,475,771
 Commitments and Contingencies (Note 5)
 STOCKHOLDERS' EQUITY:    
 Common stock: $0.001 par value; 500,000,000 shares authorized, 7,623,598 and 7,306,663 shares issued, 7,622,274 and 7,305,339 shares outstanding at June 30, 2024 and December 31, 2023, respectively 7,623 7,306
 Additional paid-in-capital 72,563,300 69,120,199
 Accumulated deficit (69,560,032) (63,603,552)
 Sub-total 3,010,906 5,523,966
 Less:  Treasury stock (1,324 shares of common stock at June 30, 2024 and December 31, 2023) (157,452) (157,452)
 Total Stockholders' Equity 2,853,454 5,366,514
 Total Liabilities and Stockholders' Equity 21,210,198 12,842,285
Convertible Series A Preferred Stock [Member]    
 STOCKHOLDERS' EQUITY:    
Preferred stock, value 0 0
Convertible Series B Preferred Stock [Member]    
 STOCKHOLDERS' EQUITY:    
Preferred stock, value 0 0
Convertible Series C Preferred Stock [Member]    
 STOCKHOLDERS' EQUITY:    
Preferred stock, value 0 0
Convertible Series D Preferred Stock [Member]    
 STOCKHOLDERS' EQUITY:    
Preferred stock, value 1 1
Convertible Series E Preferred Stock [Member]    
 STOCKHOLDERS' EQUITY:    
Preferred stock, value 14 12
Convertible Series F Preferred Stock [Member]    
 STOCKHOLDERS' EQUITY:    
Preferred stock, value $ 0 $ 0