v3.25.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Net Income / (Loss) $ 710,458 $ (36,798,419)
Adjustments to Reconcile Net Income / (Loss) to Net Cash Used in Operating Activities:    
Depreciation Expense 1,284,653 1,430,240
Amortization of operating lease right-of-use assets 508,156 492,806
Loss on disposal of property and equipment 241,541 43,290
Non-cash Warrant Issued 8,828 0
Gain on Investment (3,421,222) 0
Change in Fair Value of Convertible Notes (14,028,067) 22,764,854
Change in Fair Value of Warrant Liabilities (736,580) 240,159
Non-cash Interest Expense 346,436 435,373
Non-cash Share-based Compensation 4,892,110 18,594
Changes in Operating Assets and Liabilities:    
Accounts Receivable 83,042 (227,218)
Inventory 1,409,180 885,547
Other Current Assets (115,741) 61,230
Other Long Term Assets 13,151 76,270
Accounts Payable (672,348) 1,078,467
Other Current Liabilities (1,151,329) 1,691,432
Operating Lease Liabilities (587,891) (672,371)
Net Cash Used in Operating Activities (11,215,623) (8,479,746)
Cash Flow (used in) / from Investing Activities    
Purchase of Property and Equipment (106,421) (26,512)
Proceeds from Sale of Asset 0 2,400
Proceeds from Purchase of Thinking Tree Spirits 5,090 0
Net Cash Used in Investing Activities (101,331) (24,112)
Cash Flow from Financing Activities    
Proceeds from Notes Payable 694,914 250,000
Proceeds from Whiskey Notes (including proceeds from related party Whiskey Notes of $1,100,000 and $800,000 for the years ended December 31, 2024 and 2023, respectively) 3,655,870 2,975,000
Proceeds from Convertible Notes (including proceeds from related party convertible notes of $0 and $4,675,000 for the years ended December 31, 2024 and 2023, respectively) 0 5,590,000
Repayment of Notes Payable (1,723,386) (183,062)
Proceeds from Initial Public Offering of Common Stock, net of Underwriting Commission 5,960,000 0
Expenses related to Initial Public Offering, recorded to Additional Paid-in-Capital, net against IPO Proceeds (313,467) 0
Proceeds from Private Placement of Common Warrants 1,397,998 0
Proceeds from Private Placement of Preferred Stock and warrants 2,025,000 0
Deferred Transaction Costs associated with S-1 Filing 0 (262,896)
Common Stock Shares Repurchased (3,690) (11,340)
Net Cash Provided by Financing Activities 11,693,239 8,357,702
Net Increase (Decrease) in Cash 376,284 (146,156)
Cash – Beginning of Period 76,878 223,034
Cash – End of Period 453,162 76,878
Cash Paid during the Period for:    
Interest Expense 2,189,265 2,091,366
Income Tax Expense 1,650 7,000
Supplemental Schedule of Non-cash Investing and Financing Activities:    
Right-of-use Assets Obtained in Exchange for New Operating Lease Liabilities 152,821 290,060
Transaction Costs Associated with S-1 Filing in Accounts Payable and Other Current Liabilities 1,676,494 1,020,004
Deferred Transaction Costs Applied Against IPO Proceeds 2,054,454 0
Common Stock Issued in Conjunction with Acquisition of Thinking Tree Spirits 670,686 0
Unpaid Property and Equipment Additions 204,366 194,366
Preferred Stock and Warrants Issued in Exchange for Barrels and Inventory 1,265,600 0
Preferred Stock and Warrants Issued in Exchange for Factoring Agreement Notes Payable Including Interest and Fees 719,919 0
Preferred Stock Issued in Exchange for Warrants 9 0
Exercise of Warrants to Purchase Common Stock 32 0
Prepaid Warrants Issued in Exchange for Common Stock 3 0
2022 and 2023 Convertible Notes    
Supplemental Schedule of Non-cash Investing and Financing Activities:    
Conversion of Convertible Notes 15,278,168 0
Common Stock Exchanged for Prepaid Warrants 193 0
Convertible Notes To Warrants    
Supplemental Schedule of Non-cash Investing and Financing Activities:    
Conversion of Convertible Notes 1,873,000 0
Conversion of Whiskey Notes    
Supplemental Schedule of Non-cash Investing and Financing Activities:    
Conversion of Convertible Notes 11,784,068 0
Common Stock Exchanged for Prepaid Warrants $ 197 $ 0

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