| Property and Equipment, Prepaid Expenses, Other Current Assets and Liabilities |
Property and Equipment, Prepaid Expenses, Other Current Assets and Liabilities Property and equipment, net consists of the following:
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As of September 30, 2024 |
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As of December 31, 2023 |
| Machinery and equipment |
$ |
1,527,419 |
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$ |
78,024 |
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| Computer equipment |
74,868 |
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|
46,732 |
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| Leasehold improvements |
13,954 |
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13,954 |
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Total property and equipment, gross |
1,616,241 |
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|
138,710 |
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| Less: accumulated depreciation |
(99,629) |
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(95,434) |
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| Total property and equipment, net |
$ |
1,516,612
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$ |
43,276
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Depreciation expense for the three and nine months ended September 30, 2024 was $47,519 and $69,873, respectively. Depreciation expense for the three and nine months ended Sepember 30, 2023 was $12,788 and $38,107, respectively.
Prepaid expenses consist of the following:
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As of September 30, 2024 |
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As of December 31, 2023 |
Clinical expenses |
$ |
64,878 |
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$ |
61,352 |
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Financial advisory service agreement |
284,170 |
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— |
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Other prepaid expenses |
315,556 |
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|
132,907 |
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$ |
664,604
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$ |
194,259
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Other current assets consist of the following:
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As of September 30, 2024 |
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As of December 31, 2023 |
| AusIndustry incentive |
$ |
9,033 |
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$ |
540,604 |
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| Vendor deposits |
2,216,427 |
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|
403,439 |
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| Other tax receivables |
3,678 |
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|
158,242 |
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| Other current assets |
421,671 |
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|
17,644 |
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$ |
2,650,809
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$ |
1,119,929
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Other current liabilities consist of the following:
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As of September 30, 2024 |
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As of December 31, 2023 |
| Research and development costs |
$ |
1,220,041 |
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$ |
467,784 |
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| Legal fees |
370,359 |
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|
258,213 |
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EHT Acquisition related liabilities |
— |
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|
180,897 |
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| Professional and consulting fees |
410,512 |
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|
69,468 |
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| Other accrued liabilities |
64,746 |
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|
22,190 |
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$ |
2,065,658
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$ |
998,552
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