LAIRD SUPERFOOD, INC., 10-K filed on 2/26/2025
Annual Report
v3.25.0.1
Document And Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2024
Feb. 21, 2025
Jun. 28, 2024
Document Information [Line Items]      
Entity Central Index Key 0001650696    
Entity Registrant Name Laird Superfood, Inc.    
Amendment Flag false    
Current Fiscal Year End Date --12-31    
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2024    
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Document Transition Report false    
Entity File Number 001-39537    
Entity Incorporation, State or Country Code NV    
Entity Tax Identification Number 81-1589788    
Entity Address, Address Line One 5303 Spine Road, Suite 204    
Entity Address, City or Town Boulder    
Entity Address, State or Province CO    
Entity Address, Postal Zip Code 80301    
City Area Code 541    
Local Phone Number 588-3600    
Title of 12(b) Security Common Stock    
Trading Symbol LSF    
Security Exchange Name NYSEAMER    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business true    
Entity Emerging Growth Company true    
Entity Ex Transition Period false    
ICFR Auditor Attestation Flag false    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 47,200,000
Entity Common Stock, Shares Outstanding   10,299,486  
Auditor Firm ID 659    
Auditor Name Moss Adams LLP    
Auditor Location Portland, Oregon    
v3.25.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash, cash equivalents, and restricted cash $ 8,514,152 $ 7,706,806
Accounts receivable, net 1,762,911 1,022,372
Inventory 5,975,676 6,322,559
Prepaid expenses and other current assets 1,713,889 1,285,564
Total current assets 17,966,628 16,337,301
Noncurrent assets    
Property and equipment, net 58,447 122,595
Intangible assets, net 896,123 1,085,231
Related party license agreements 132,100 132,100
Right-of-use assets 205,703 354,732
Total noncurrent assets 1,292,373 1,694,658
Total assets 19,259,001 18,031,959
Current liabilities    
Accounts payable 2,137,760 1,647,673
Accrued expenses 3,642,998 2,586,343
Related party liabilities 34,947 2,688
Lease liabilities, current portion 105,966 138,800
Total current liabilities 5,921,671 4,375,504
Lease liabilities 140,464 243,836
Total liabilities 6,062,135 4,619,340
Stockholders’ equity    
Common stock, $0.001 par value, 100,000,000 shares authorized at December 31, 2024 and December 31, 2023; 10,668,705 and 10,292,374 issued and outstanding at December 31, 2024, respectively; and 9,749,326 and 9,383,622 issued and outstanding at December 31, 2023, respectively. 10,292 9,384
Additional paid-in capital 121,304,884 119,701,384
Accumulated deficit (108,118,310) (106,298,149)
Total stockholders’ equity 13,196,866 13,412,619
Total liabilities and stockholders’ equity $ 19,259,001 $ 18,031,959
v3.25.0.1
Consolidated Balance Sheets (Parentheticals) - $ / shares
Dec. 31, 2024
Dec. 31, 2023
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, authorized (in shares) 100,000,000 100,000,000
Common stock, issued (in shares) 10,668,705 9,749,326
Common stock, outstanding (in shares) 10,292,374 9,383,622
v3.25.0.1
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Sales, net $ 43,295,137 $ 34,224,198
Cost of goods sold (25,607,556) (23,910,921)
Gross profit 17,687,581 10,313,277
General and administrative    
Salaries, wages, and benefits 4,367,976 4,203,613
Other general and administrative 4,931,033 5,589,747
Total general and administrative expenses 9,299,009 9,793,360
Sales and marketing    
Marketing and advertising 6,484,611 7,600,859
Selling 3,825,992 3,332,872
Related party marketing agreements 251,061 285,172
Total sales and marketing expenses 10,561,664 11,218,903
Total operating expenses 19,860,673 21,012,263
Operating loss (2,173,092) (10,698,986)
Nonoperating Income (Expense) 413,255 551,064
Loss before income taxes (1,759,837) (10,147,922)
Income tax expense (60,324) (15,195)
Net loss $ (1,820,161) $ (10,163,117)
Net loss per share:    
Net loss per share, basic and diluted (in dollars per share) $ (0.18) $ (1.09)
Weighted average shares outstanding - basic and diluted (in shares) 9,946,733 9,297,226
v3.25.0.1
Consolidated Statements of Stockholders' Equity - USD ($)
Common Stock Outstanding [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Total
Balances (in shares) at Dec. 31, 2022 9,210,414      
Balances at Dec. 31, 2022 $ 9,210 $ 118,636,834 $ (96,135,032) $ 22,511,012
Stock-based compensation $ 0 1,092,146 0 1,092,146
Common stock issuances, net of taxes (in shares) 173,208      
Common stock issuances, net of taxes $ 174 (27,596) 0 (27,422)
Net loss $ 0 0 (10,163,117) $ (10,163,117)
Stock options exercised (in shares)       (0)
Balances (in shares) at Dec. 31, 2023 9,383,622      
Balances at Dec. 31, 2023 $ 9,384 119,701,384 (106,298,149) $ 13,412,619
Stock-based compensation $ 0 1,637,788 0 1,637,788
Common stock issuances, net of taxes (in shares) 695,145      
Common stock issuances, net of taxes $ 696 (71,622) 0 (70,926)
Net loss $ 0 0 (1,820,161) $ (1,820,161)
Stock options exercised (in shares) 213,607     300,250 [1]
Stock options exercised $ 212 94,809 0 $ 95,021
Common stock issuance costs $ 0 (57,475) 0 (57,475)
Balances (in shares) at Dec. 31, 2024 10,292,374      
Balances at Dec. 31, 2024 $ 10,292 $ 121,304,884 $ (108,118,310) $ 13,196,866
[1] Includes 86,643 shares of common stock which were withheld to cover option costs.
v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Net loss $ (1,820,161) $ (10,163,117)
Adjustments to reconcile net loss to net cash from operating activities    
Depreciation and amortization 270,271 306,176
Stock-based compensation 1,637,788 1,092,146
Provision for inventory obsolescence 599,902 1,273,171
Allowance for credit losses (21,094) 165,980
Noncash lease costs 142,321 152,339
Other operating activities, net 11,370 38,098
Changes in operating assets and liabilities    
Accounts receivable (719,445) 306,117
Inventory (253,019) (1,899,165)
Prepaid expenses and other current assets (267,463) 1,244,511
Operating lease liability (128,426) (126,434)
Accounts payable 513,066 570,094
Accrued expenses 900,392 (3,725,797)
Net cash from operating activities 865,502 (10,765,881)
us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract    
Purchase of property and equipment (24,776) (144,023)
Proceeds on sale of property and equipment 0 34,330
Proceeds from sale of assets held-for-sale 0 800,000
Net cash from investing activities (24,776) 690,307
Cash flows from financing activities    
Common stock issuances, net of taxes (70,926) (27,422)
Common stock issuance costs (57,475) 0
Stock options exercised, net of option costs 95,021 0
Net cash from financing activities (33,380) (27,422)
Net change in cash and cash equivalents 807,346 (10,102,996)
Cash, cash equivalents, and restricted cash, beginning of period 7,706,806 17,809,802
Cash, cash equivalents, and restricted cash, end of period 8,514,152 7,706,806
Supplemental disclosures of cash flow information    
Cash paid for interest 16,027 13,994
Cash paid for income taxes 63,852 17,625
Right-of-use assets obtained in exchange for operating lease liabilities 0 344,382
Prepaid expenses paid for with a short-term financing arrangement included in accrued expenses $ 165,543 $ 0
v3.25.0.1
Insider Trading Arrangements
 12 Months Ended
Dec. 31, 2024
Insider Trading Arr Line Items  
Rule 10b5-1 Arrangement Adopted [Flag] false
Non-Rule 10b5-1 Arrangement Adopted [Flag] false
Rule 10b5-1 Arrangement Terminated [Flag] false
Non-Rule 10b5-1 Arrangement Terminated [Flag] false
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Our enterprise-wide cybersecurity strategy, policy, standards, architecture, and processes are led by a dedicated, outsourced Chief Information Officer, in collaboration with outside cybersecurity partners, is responsible for leading enterprise-wide cybersecurity strategy, policy, standards, architecture, and processes. Qualified third-party service providers are tasked with developing, implementing, and executing that strategy. These third parties play a key role in our cybersecurity risk assessment and management processes, as we rely on their cybersecurity experience and expertise to assess, identify, and manage emerging trends and risks from cybersecurity threats on an ongoing basis.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block] We assess materiality of cybersecurity incidents based on the type of breach, whether any information was accessed, the nature of the information accessed, and the potential for business interruption. As of the date of this report, we are not aware of any material incidents from cybersecurity threats, that have materially affected or are reasonably likely to materially affect the Company, including our business strategy, results of operations, or financial condition.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Our Chief Executive Officer and other members of our senior management, as appropriate, provide oversight and monitoring of these third parties, who provide regular reports to management. Management provides periodic reports to our Board as a whole, who are ultimately responsible for the oversight of risks from cybersecurity threats, which include updates on the Company’s cyber risks, the status of projects to strengthen our information security systems, assessments of the information security program, the emerging threat landscape, and any recommendations for additional internal controls, systems, or insurance coverage for board approval.
Cybersecurity Risk Role of Management [Text Block]

 

ITEM 1C. CYBERSECURITY. 

 

Risk Management, Strategy, and Governance

 

Our enterprise-wide cybersecurity strategy, policy, standards, architecture, and processes are led by a dedicated, outsourced Chief Information Officer, in collaboration with outside cybersecurity partners, is responsible for leading enterprise-wide cybersecurity strategy, policy, standards, architecture, and processes. Qualified third-party service providers are tasked with developing, implementing, and executing that strategy. These third parties play a key role in our cybersecurity risk assessment and management processes, as we rely on their cybersecurity experience and expertise to assess, identify, and manage emerging trends and risks from cybersecurity threats on an ongoing basis.

 

Our Chief Executive Officer and other members of our senior management, as appropriate, provide oversight and monitoring of these third parties, who provide regular reports to management. Management provides periodic reports to our Board as a whole, who are ultimately responsible for the oversight of risks from cybersecurity threats, which include updates on the Company’s cyber risks, the status of projects to strengthen our information security systems, assessments of the information security program, the emerging threat landscape, and any recommendations for additional internal controls, systems, or insurance coverage for board approval.

 

Our cybersecurity policies are focused on ensuring the security and protection of our systems, networks, and proprietary data, which includes trade secrets, intellectual property, corporate strategic plans, marketing plans, material non-public financial information, and personally identifiable information, such as employee and customer information. We also actively engage with key vendors as part of our continuing efforts to actively monitor system access, identify and quarantine potential cybersecurity threats, to assess and implement cybersecurity systems and tools, and to enhance the effectiveness of our information security policies and procedures.

 

Cybersecurity risk management processes are one component of our overall risk assessment process whereby, on an ongoing basis, we analyze our internal control environment and consider how threats to the business might circumvent those controls. These processes include control over and segregation of user access to key systems, monitoring of any user access anomalies, active monitoring of emerging trends in the broader market, timely identification and quarantine of any potential cybersecurity incidents, evaluation of our operations and business needs and how executing on those needs translates to potential threats, and training of end users to mitigate the likelihood of user error.

 

We assess materiality of cybersecurity incidents based on the type of breach, whether any information was accessed, the nature of the information accessed, and the potential for business interruption. As of the date of this report, we are not aware of any material incidents from cybersecurity threats, that have materially affected or are reasonably likely to materially affect the Company, including our business strategy, results of operations, or financial condition.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] Cybersecurity risk management processes are one component of our overall risk assessment process whereby, on an ongoing basis, we analyze our internal control environment and consider how threats to the business might circumvent those controls. These processes include control over and segregation of user access to key systems, monitoring of any user access anomalies, active monitoring of emerging trends in the broader market, timely identification and quarantine of any potential cybersecurity incidents, evaluation of our operations and business needs and how executing on those needs translates to potential threats, and training of end users to mitigate the likelihood of user error.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Note 1 - Nature of Operations and Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]

1.

Nature of Operations and Summary of Significant Accounting Policies

 

Financial Statement Preparation

 

The accompanying consolidated financial statements (the “balance sheet(s),” “statement(s) of operations,” “statement(s) of stockholders' equity,” and “statement(s) of cash flows,” collectively, the “financial statements”) include the accounts of Laird Superfood, Inc., a Nevada corporation, and its wholly owned subsidiary, Picky Bars, LLC, (collectively, the “Company,” or “Laird Superfood”). The accounting and reporting policies of the Company conform with accounting principles generally accepted in the United States of America (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and rules and regulations of the Securities and Exchange Commission (“SEC”). Operating results include the years ended December 31, 2024 and 2023.

 

Nature of Operations

 

Laird Superfood creates clean, plant-based, and functional foods, many of which incorporate adaptogens which may be beneficial in reducing stress, improving energy levels, enhancing mental performance, mood regulation, and immune system support. Our primary products include (i) coffee creamers, (ii) hydration and beverage enhancing products, (iii) harvest snacks and other food items, and (iv) coffee, tea, and hot chocolate products. The Company was founded in 2015.

 

The Company currently operates in one reportable segment. See Note 15 for additional information regarding this single segment.

 

Principles of Consolidation

 

All significant intercompany accounts and transactions have been eliminated in our accompanying consolidated financial statements.

 

Use of Estimates

 

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses during the reporting period. The Company bases its estimates and assumptions on historical experience, known trends and events and various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Although management believes its estimates and assumptions are reasonable when made, they are based upon information available at the time they are made. Management evaluates the estimates and assumptions on an ongoing basis and, if necessary, makes adjustments. Due to the risks and uncertainties involved in the Company’s business and evolving market conditions and given the subjective element of the estimates and assumptions made, actual results may differ from estimated results. The most significant estimates and judgments include those related to allowances for credit losses and returns, inventory obsolescence, goodwill, intangible assets, valuation allowance for deferred taxes, reserves on prepaid expenses, variable consideration in contracts with customers, and fair value of stock-based compensation.

 

Cash, Cash Equivalents, and Restricted Cash

 

Cash, cash equivalents, and restricted cash are highly liquid instruments with an original maturity of three months or less when purchased. For the purposes of the consolidated statements of cash flows, the Company includes cash on hand, cash in clearing accounts, cash on deposit with financial institutions, investments with an original maturity of three months or less, and restricted cash in determining the total balance.

 

Accounts Receivable

 

Accounts receivable consist principally of trade receivables, which are recorded at the invoiced amount, net of allowances for credit losses. Trade receivables do not bear interest. Receivables are considered past due or delinquent according to contract terms. Management closely monitors outstanding balances and writes off accounts receivable as they are determined uncollectible. The Company provides for estimated losses on accounts receivable based on a forward-looking expected credit loss models based on historical experience, current economic conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. These estimated allowances for credit losses include both allowances for non-payment as well as reserves for trade promotional contracts with wholesale customers. 

 

The following table summarizes the components of estimated allowances for credit losses:

 

  

December 31,

  

December 31,

 
  

2024

  

2023

 

Allowance for bad debts

 $16,107  $37,201 

Trade promotion reserves

  953,061   901,917 

Factoring payable (receivable)

  (1,534)  — 

Total allowances for credit losses

 $967,634  $939,118 

 

Inventory

 

Inventory is stated at the lower of cost or net realizable value, or the value of consideration that can be received upon sale of said product, and approximate costs determined on the first-in first-out basis and consists primarily of raw materials, packaging, and finished goods, which include co-packing fees, indirect labor and allocable overhead.

 

Prepaid Expenses and Other Current Assets

 

Prepaid expenses are recognized as an asset upon payment, prior to the realizability of the service or receipt of goods. They are subsequently amortized either on a straight-line basis according to contractual terms, when services or arrangements are rendered, or when goods are received. Deposits are recognized when paid and are relieved either upon refund or upon determining that the deposit will not be refunded. Other current assets are recognized when estimable and realizable. 

 

Property and Equipment

 

Property and equipment are valued at cost, net of accumulated depreciation. Expenditures for maintenance and repairs that do not extend the useful life or increase the value of the assets are charged to expense in the period incurred. Additions and betterments are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Estimated useful lives for depreciation purposes for furniture and equipment range from 2 to 5 years. The useful life for leasehold improvements is the lesser of the lease term or the useful life. Construction in progress is not depreciated until such a time that the assets are completed and placed into service.

 

Leases

 

In accordance with ASC 842, Leases (“ASC 842”), the Company accounts for a contract as a lease when it has the right to control the asset for a period of time while obtaining substantially all of the asset’s economic benefits. We categorize leases at their inception as either operating, finance, or short-term leases and determine if an arrangement contains an embedded lease. For arrangements that meet the definition of a lease, the Company determines the initial classification and measurement of its right-of-use asset and lease liability at the lease commencement date and, thereafter, if modified. The lease term includes any renewal options that the Company is reasonably assured to exercise. Lease agreements effective during the years ended December 31, 2024 and 2023 cover, or covered, office space, and vehicles. All of our long-term leases are operating leases. Operating leases are included in right-of-use assets, current lease liabilities, and long-term lease liabilities in our consolidated balance sheets.

 

In addition to rent, the leases may require the Company to pay additional costs, such as utilities, maintenance, and other operating costs, which are generally referred to as non-lease components. The Company has elected to not separate lease and non-lease components. Only the fixed costs for lease components and their associated non-lease components are accounted for as a single lease component and recognized as part of a right-of-use asset and liability. Lease-related liabilities are recognized at the present value of the remaining contractual fixed lease payments, discounted using our incremental borrowing rate. Operating lease expense is recognized on a straight-line basis over the lease term, while variable lease payments are expensed as incurred.

 

Leased assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. We use a secured incremental borrowing rate as the discount rate for the present value of lease payments when the rate implicit in the contract is not readily determinable. For operating leases with variable payments dependent upon an index or rate, we apply the active index or rate as of the lease commencement date. Variable lease payments not based on an index or rate are not included in the operating lease liability as they cannot be reasonably estimated and are recognized in the period in which the obligation for those payments is incurred. Leases that have a term of twelve months or less upon commencement date are considered short-term in nature. Accordingly, short-term leases are not included on the consolidated balance sheets and are expensed on a straight-line basis over the lease term, which commences on the date we have the right to control the property.

 

We were the lessor in a sublease agreement. This lease was an operating lease and was recognized straight line over the lease term with a related sublease rental asset accounting for abatements and initial direct costs. Sublease income was recognized in other income and expenses in the statements of operations. The sublease was terminated without penalty effective October 31, 2024. 

 

Revenue Recognition

 

The Company recognizes revenue in accordance with the five-step model as prescribed by ASC 606, Revenue from Contracts with Customers (“ASC 606”) in which the Company evaluates the transfer of promised goods or services and recognizes revenue when its customer obtains control of promised goods or services in an amount that reflects the consideration which the Company expects to be entitled to receive in exchange for those goods or services. To determine revenue recognition for the arrangements that the Company determines are within the scope of ASC 606, the Company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. See Note 14 for additional information regarding revenue recognition. The Company has elected, as a practical expedient, to account for the shipping and handling as fulfillment costs, rather than as a separate performance obligation. Methodologies for determining these provisions are dependent on customer pricing and promotional practices. The Company records reductions to revenue and a refund liability for estimated product returns and pricing adjustments in the same period that the related revenue is recorded. These estimates will be based on industry-based historical data, historical sales returns, if any, analysis of credit memo data, and other factors known at the time.

 

Cost of Goods Sold

 

Cost of goods sold includes the cost of products purchased, packaging, co-packers' tolling fees, inbound and outbound freight costs, indirect labor, third party labor to store and ship our products, and overhead costs incurred in the storage and distribution of products sold in the period.  

 

Shipping and Handling

 

Costs of shipping and handling related to sales revenue are included in cost of goods sold. Shipping and handling costs totaled $5,189,469 and $5,223,257 for the years ended December 31, 2024 and 2023, respectively. Income generated from shipping costs billed through to customers was included in Sales, net in the consolidated statements of operations. Shipping income totaled $506,732 and $899,921 for the years ended December 31, 2024 and 2023, respectively.

 

Research and Product Development

 

Amounts spent on research and development activities are expensed as incurred and are included in general and administrative expenses on the statements of operations. Research and product development expense was $114,144 and $219,723 for the years ended December 31, 2024 and 2023, respectively.

 

Marketing and advertising

 

Marketing and advertising costs are expensed when incurred. For the years ended December 31, 2024 and 2023, these costs amounted to $6,735,672 and $7,886,031, respectively, including related party marketing costs.

 

Income Taxes

 

Income taxes provide for the tax effects of transactions reported in the consolidated financial statements and consist of income taxes currently due and deferred tax assets and liabilities. The Company may also be subject to interest and penalties from taxing authorities on underpayment of income taxes. In such an event, interest and penalties are included in income tax expense. Deferred tax assets and liabilities are recognized for differences between the basis of assets and liabilities for financial statement and income tax purposes. The differences relate primarily to depreciable and amortizable assets (use of different depreciation and amortization methods and lives for financial statement and income tax purposes), stock-based compensation, operating lease right-of-use assets and lease liabilities, and net operating losses. The deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. 

 

Stock Incentive Plan

 

The compensation cost relating to share-based payment transactions is recognized in the consolidated financial statements. The cost is measured based on the grant date fair value of the equity or liability instruments issued. Compensation cost for all employee stock awards is calculated and recognized over the employees’ service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. Compensation cost for all consultant stock awards is calculated and recognized over the consultant’s service period based on the grant date fair value of the equity or liability instruments issued. Upon exercise of stock option awards or vesting of restricted stock units (“RSUs”) and market-based stock units (“MSUs”), recipients are issued shares of common stock. Pre-vesting forfeitures result in the reversal of all compensation cost as of the date of termination; post-vesting cancellation does not.

 

Earnings per Share

 

Basic earnings per share is computed on the basis of the weighted average number of shares of common stock that were outstanding during the period. Diluted earnings per share is similarly determined, except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if all dilutive potential common stock and preferred stock had been issued and are calculated under the treasury stock method. Due to the Company’s net loss, all stock options, unvested restricted stock, and convertible preferred stock are anti-dilutive and excluded.

 

Indefinite Lived Intangible Assets

 

Indefinite lived intangible assets are valued at cost. The Company assesses qualitative factors each reporting period to determine whether events and circumstances exist that indicate that the fair values of the indefinite lived intangible assets are less than the carrying amounts. Upon considering these factors, the Company determines whether or not it is more likely than not that the fair values of the assets are less than the carrying amounts. If the fair value is less than the carrying value, impairment would be recognized.

 

Definite Lived Intangible Assets, net

 

Definite lived intangible assets are valued at cost, net of accumulated amortization. Amortization is computed using the straight-line method over the estimated useful lives of the assets. Estimated useful lives for amortization purposes range between 3 and 10 years. Amortization expense is allocated to general and administrative expense. The Company assesses qualitative factors each reporting period to determine whether events and circumstances exist that indicate that the fair values of the definite lived intangible assets were less than the carrying amounts.

 

Employee Benefit Plan

 

The Company sponsors a defined contribution 401(k) plan (the “401(k) plan”) for all employees 18 years of age or older. Employee contributions may be made on a before-tax basis, limited by Internal Revenue Service regulations. Contributions of $136,074 were remitted during the year ended December 31, 2024. No contributions were remitted during the year ended December 31, 2023. As of December 31, 2024 and 2023, there were $129,301 and $155,815 of employer 401(k) contribution liabilities, respectively, included in accrued expenses on the consolidated balance sheets.

 

JOBS Act Accounting Election

 

The Company qualifies as an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. An emerging growth company can elect to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. Currently, the Company has elected to file as an emerging growth company defined under the JOBS Act, and as such, these consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.

 

Loss Contingencies

 

We may be subject to contingencies arising in the ordinary course of business, such as product liability and other product-related litigation, commercial litigation, environmental claims and proceedings, government investigations and guarantees and indemnifications. In assessing contingencies related to legal and environmental proceedings that are pending against the Company, or unasserted claims that are probable of being asserted, we record accruals for these contingencies to the extent that we conclude that a loss is both probable and reasonably estimable. If some amount within a range of loss appears to be a better estimate than any other amount within the range, we accrue that amount. Alternatively, when no amount within a range of loss appears to be a better estimate than any other amount, we accrue the lowest amount in the range. We record anticipated recoveries under existing insurance contracts when recovery is assured.

 

Recoveries on claims for business interruptions

 

In the first quarter of 2023, we discovered a product quality issue with coconut milk powder from one of our suppliers and immediately initiated a voluntary product withdrawal and contacted all impacted wholesale customers and e-commerce consumers to aggressively pull back as much as of the affected product as possible. In connection with this withdrawal, we incurred costs associated with inventory obsolescence, quality testing, and remedial discounts and replacement orders of $0.5 million in the fourth quarter of 2022 and $0.4 million in the first quarter of 2023. In the third quarter of 2023 and the third quarter of 2024, we reached settlement agreements with the vendor, in connection with which we recovered approximately $0.5 million. We implemented a robust new sensory testing program to prevent future quality issues.

 

Recently Adopted Accounting Pronouncements

 

In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which expanded annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The expanded annual disclosures are effective for our year ended December 31, 2024, and the expanded interim disclosures are effective in 2025 and were applied retrospectively to all prior periods presented. See Note 15 for further information on our reportable segment. 

 

Recently Issued Accounting Pronouncements

 

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires, among other things, additional disclosures primarily related to the income tax rate reconciliation and income taxes paid. The expanded annual disclosures are effective for our year ending December 31, 2025. The Company is currently evaluating the impact that ASU 2023-09 will have on our consolidated financial statements and whether we will apply the standard prospectively or retrospectively.

 

In November 2024, the FASB issued ASU 2024-03, Income Statement -Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03"). ASU 2024-03 requires additional disclosures about the nature of expenses included in the income statement, such as purchases of inventory, employee compensation, and depreciation. ASU 2024-03 is effective for public business entities for annual periods beginning after December 15, 2026, and interim reporting periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2024-03 on its financial statements and related disclosures.

 

Subsequent Events

 

Subsequent events are events or transactions that occur after the balance sheet date but before the consolidated financial statements are available to be issued. The Company has evaluated events and transactions subsequent to December 31, 2024 for potential recognition of disclosure in the financial consolidated statements.

 
v3.25.0.1
Note 2 - Cash, Cash Equivalents, and Restricted Cash
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Cash and Cash Equivalents Disclosure [Text Block]

2.

Cash, Cash Equivalents, and Restricted Cash

 

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statement of cash flows.

 

  

December 31,

  

December 31,

 
  

2024

  

2023

 

Cash and cash equivalents

 $8,339,918  $7,566,299 

Restricted cash

  174,234   140,507 

Total cash, cash equivalents, and restricted cash

 $8,514,152  $7,706,806 

 

Amounts in restricted cash represent those that are required to be set aside by the following contractual agreements: 

 

 

●

On December 3, 2020, the Company entered into an agreement with Danone Manifesto Ventures, PBC (“Danone”), which provided the Company $298,103 in funds for the purpose of supporting three COVID-19 relief projects. As of December 31, 2024 and December 31, 2023, cash equivalents in the amount of $99,525 were restricted under this agreement. The restriction will be released upon the completion of the projects or release by Danone. 

 

 

●

Cash equivalents of $530,000 were pledged to secure our company credit card limits. As of  December 31, 2024 and December 31, 2023, respectively, $74,709 and $40,982 of these funds were restricted to collateralize borrowings against these company credit cards. 

 

Cash, cash equivalents, and restricted cash balances that exceeded the Federal Deposit Insurance Corporation (“FDIC”) and Securities Investor Protection Corporation (“SIPC”) insurable limits as of December 31, 2024 and December 31, 2023 totaled $7,621,392 and $6,756,207, respectively. The Company has never experienced any losses related to these balances. The Company’s cash, cash equivalents, and restricted cash are with what the Company believes to be high-quality financial institutions and considers the risks associated with these funds in excess of FDIC and SIPC insurable limits to be low.
v3.25.0.1
Note 3 - Inventory
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Inventory Disclosure [Text Block]

3.

Inventory

 

The following table presents the components of inventory, net of reserves:

 

  

December 31,

  

December 31,

 
  

2024

  

2023

 

Raw materials and packaging

 $3,049,399  $2,180,294 

Finished goods

  2,926,277   4,142,265 

Total Inventory

 $5,975,676  $6,322,559 

 

The Company periodically reviews the value of items in inventory and provides write-offs of inventory based on current market assessment, which are charged to cost of goods sold. For the years ended December 31, 2024 and 2023, the Company recorded $599,902 and $1,273,171, respectively, of costs related to the disposal of and reserve for obsolete inventory included in costs of goods sold. The elevated inventory obsolescence in 2023 was the result of the product withdrawal occurring in the first quarter of 2023.

 

The following table presents the components of inventory reserves as of: 

 

  

December 31,

  

December 31,

 
  

2024

  

2023

 

Estimated based on inventory turnover, quantities on hand, and expiration dates

 $132,557  $385,069 

Discontinued product

  293,235   338,312 

Product quarantined for product quality

  —   306,276 

Total inventory reserves

 $425,792  $1,029,657 

 

As of December 31, 2024 and 2023, the Company had a total of $871,406 and $449,242, respectively, of prepayments for future raw materials inventory, which is included in prepaid expenses on the consolidated balance sheets.

 
v3.25.0.1
Note 4 - Prepaid Expenses and Other Current Assets
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Prepaid Expenses and Other Current Assets [Text Block]

4.

Prepaid Expenses and Other Current Assets

 

The following table presents the components of prepaid expenses and other current assets:

 

    December 31,     December 31,  
   

2024

    

2023

  

Prepaid expenses

   $ 568,549     $ 532,131  

Prepaid inventory

     871,406       449,242  

Deposits

     222,483       238,719  

Other current assets

     51,451       65,472  

Prepaid expenses and other current assets

   $ 1,713,889     $ 1,285,564  
v3.25.0.1
Note 5 - Property and Equipment, Net
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

5.

Property and Equipment, Net 

 

Property and equipment, net was comprised of the following:

 

  

December 31, 2024

  

December 31, 2023

 
  

Gross Carrying Amount

  

Accumulated Depreciation

  

Net Carrying Amount

  

Gross Carrying Amount

  

Accumulated Depreciation

  

Net Carrying Amount

 

Furniture and office equipment

 $199,085  $(155,437) $43,648  $184,241  $(85,093) $99,148 

Leasehold improvements

  21,261   (6,462)  14,799   46,276   (22,829)  23,447 
  $220,346  $(161,899) $58,447  $230,517  $(107,922) $122,595 

 

For the years ended December 31, 2024 and 2023, depreciation expense was $81,163 and $99,289, respectively.

 

Assets Classified as Held-for-Sale

 

In the fourth quarter of 2022, the Company entered into purchase agreements for the sale of the production equipment for a sales price of $800,000 which was received in full and was reflected in cash generated from investing activities on the statements of cash flow for the year ended December 31, 2023.
v3.25.0.1
Note 6 - Intangible Assets
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]

6.

Intangible Assets

 

Intangible Assets, net is composed of the following:

 

  

December 31, 2024

  

December 31, 2023

 
  

Gross Carrying Amount

  

Accumulated Amortization

  

Net Carrying Amount

  

Gross Carrying Amount

  

Accumulated Amortization

  

Net Carrying Amount

 

Trade names (10 years)

 $890,827  $(213,798) $677,029  $890,827  $(106,899) $783,928 

Recipes (10 years)

  330,000   (121,000)  209,000   330,000   (88,000)  242,000 

Social media agreements (3 years)

  80,000   (80,000)  —   80,000   (71,111)  8,889 

Software (3 years)

  131,708   (121,614)  10,094   131,708   (81,294)  50,414 

Definite-lived intangible assets

  1,432,535   (536,412)  896,123   1,432,535   (347,304)  1,085,231 

Licensing agreements (indefinite)

  132,100   —   132,100   132,100   —   132,100 

Total intangible assets

 $1,564,635  $(536,412) $1,028,223  $1,564,635  $(347,304) $1,217,331 

 

The weighted-average useful life of all the Company’s intangible assets is 6.2 years.

 

For the years ended December 31, 2024 and 2023, amortization expense was $189,108 and $206,887, respectively.

 

Definite Lived Intangible Assets

 

Definite life intangible assets are evaluated for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. Examples include a significant adverse change in the extent or manner in which we use the asset, or an unexpected change in financial performance. When evaluating definite life intangible assets for impairment, we compare the carrying value of the asset to the asset’s estimated undiscounted future cash flows. An impairment is indicated if the estimated future cash flows are less than the carrying value of the asset. The Company considered the above factors when assessing whether the Company’s long-lived assets will be recoverable.

 

Based on the analysis of the qualitative factors above, management determined that there were no triggering events or impairment charges in the year ended December 31, 2024 or 2023. 

 

The Company performed a qualitative and quantitative analysis over the Company's estimates of the fair values of acquired trade names utilizing the Relief From Royalty Method variation discounted cash-flow model, which did not indicate that these assets were impaired. 

 

Intangible assets are amortized using the straight-line method over estimated useful lives ranging from three to ten years. The estimated amortization expense for each of the next five years and thereafter is as follows:

 

2025

 $149,994 

2026

  139,899 

2027

  139,899 

2028

  139,899 

2029

  139,899 

Thereafter

  186,533 
  $896,123 

  

Indefinite Lived Intangible Assets

 

On August 3, 2015, the Company entered into a license agreement with the Company’s co-founder Laird Hamilton (the “LH License”). The LH License stated Laird Hamilton’s contribution to the Company was in the form of intellectual property, granting the Company the right to use Laird Hamilton’s name and likeness. This contribution, which was reported on the balance sheets as of December 31, 2024 and 2023, was valued at $132,000 and satisfied with the issuance of 660,000 shares of common stock. The Company has determined that the intangible asset associated with the LH License has an indefinite life, as there is no foreseeable limit on the period of time over which it is expected to contribute to the cash flows of the Company.

 

On May 2, 2018, the Company entered into a license agreement with Gabrielle Reece, who is married to Mr. Hamilton (the “GR License”). Pursuant to the GR License, Ms. Reece granted the Company rights to her name, signature, voice, picture, image, likeness, and biographical information commencing on July 1, 2015. This contribution, which is reported on the consolidated balance sheets as of December 31, 2024 and 2023, was valued at $100 based on the consideration exchanged. The Company has determined that the intangible asset associated with the GR License has an indefinite life, as there is no foreseeable limit on the period of time over which it is expected to contribute to the cash flows of the Company.

 

On November 19, 2018, the Company executed a License and Preservation Agreement with Mr. Hamilton and Ms. Reece which superseded the predecessor license agreements with both individuals. The agreement added specific terms related to non-competition and allowable usage of the property under the license. No additional consideration was exchanged in connection with the agreement and the life of the agreement was set at 100 years.

 

On May 26, 2020, the Company executed a License and Preservation Agreement with Mr. Hamilton, and Ms. Reece (the “2020 License”), which superseded the predecessor license and preservation agreement with both individuals. Among other modifications, the agreement (i) modified certain approval rights of Mr. Hamilton and Ms. Reece for use of their respective images, signatures, voices, and names (other than those owned by the Company), rights of publicity and common law and statutory rights to the foregoing in the Company’s products, (ii) modified certain assignment, change of control and indemnification provisions, and (iii) granted the Company the right to extend the term of the agreement for additional ten-year terms upon the expiration of the initial one-hundred year term. No additional consideration was exchanged in connection with the agreement.

 
v3.25.0.1
Note 7 - Accrued Expenses
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Accrued Liabilities Disclosure [Text Block]

7.

Accrued Expenses

 

The following table presents the components of accrued expenses:

 

  

December 31,

  

December 31,

 
  

2024

  

2023

 

Accrued compensation and benefits

 $1,993,008  $1,166,321 

Accrued accounts payable

  1,082,789   677,492 

Other accrued expenses

  567,201   742,530 

Accrued expenses

 $3,642,998  $2,586,343 
v3.25.0.1
Note 8 - Leases
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Leases [Text Block]

8.

Leases

 

Lessee

 

The Company leased its warehouse space under a commercial lease with RII Lundgren Mill, LLC, dated March 1, 2018. The lease commenced March 1, 2018. The initial lease term was ten years, and the Company had the option to renew the lease for two additional five-year periods.

 

The Company executed a second lease for additional warehouse and office space under a commercial lease with RII Lundgren Mill, LLC, dated December 17, 2018. The lease commenced on July 1, 2019. However, for accounting purposes the lease commencement date was June 6, 2019. The initial lease term was ten years.

 

The Company executed a third lease for additional warehouse and office space under a commercial lease with RII Lundgren Mill, LLC, dated October 1, 2021. The lease commenced on October 1, 2021. The initial lease term was ten years.

 

The Company executed a lease cancellation agreement dated December 12, 2022. Under this agreement, the Company's three leases with RII Lundgren Mill, LLC, were terminated effective January 31, 2023, and the Company agreed to pay $1,550,000, of which $500,000 was remitted in 2022 and $1,050,000 was satisfied in the first quarter of 2023. 

 

The Company assumed an operating lease in the acquisition of Picky Bars, LLC on May 3, 2021. The initial lease term was 62 months. The lease was terminated, without penalty, effective October 31, 2024. 

 

The Company entered into a sublease agreement with Somatic Experiencing Trauma Institute with a commencement date of January 1, 2023, for a 5,257 square foot office space in Boulder, Colorado which serves as the Company's new headquarters. This lease will expire on July 1, 2027.

 

The components of lease expense were as follows:

 

  

Year Ended

  

December 31, 2024

  

December 31, 2023

 

Operating leases

        

Operating lease cost

 $142,321  $152,338 

Variable lease cost

  19,504   29,576 

Operating lease expense

  161,825   181,914 

Short-term lease rent expense

  317,792   337,584 

Total rent expense

 $479,617  $519,498 

 

  

Year Ended

  

December 31, 2024

  

December 31, 2023

 

Operating cash flows - operating leases

 $128,426  $126,434 

Right-of-use assets obtained in exchange for operating lease liabilities

 $—  $344,382 

 

  

December 31, 2024

  

December 31, 2023

 

Weighted-average remaining lease term – operating leases (in years)

  2.5   3.0 

Weighted-average discount rate – operating leases

  7.50%  6.71%

 

As of December 31, 2024, future minimum payments during the next three years are as follows:

 

2025

 $105,966 

2026

  109,145 

2027

  56,210 

Total

  271,321 

Less imputed interest

  (24,891)

Operating lease liabilities

 $246,430 

 

Lessor

 

The Company executed a sublease agreement of the Picky Bars, LLC operating lease on March 1, 2022. The lease commenced on April 1, 2022. The initial lease term expired on April 30, 2025. The sublease was terminated, without penalty, effective October 31, 2024. The lease met all of the criteria of an operating lease and was accordingly recognized straight line over the lease term with a related sublease rental asset accounting for abatements and initial direct costs. 

 

The components of rental income were as follows:

 

  

Year Ended

 
  

December 31, 2024

  

December 31, 2023

 

Operating leases

        

Operating lease income

 $46,849  $56,219 

Variable lease income

  17,722   21,270 

Total rental income

 $64,571  $77,489 
v3.25.0.1
Note 9 - Income Taxes
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

9.

Income Taxes

 

The Company had a tax net loss for the years ended December 31, 2024 and 2023 and therefore has recorded no assessment of current federal income taxes. The Company is subject to minimum state taxes for various jurisdictions as well as subject to franchise taxes considered income taxes under ASC 740, Income Taxes. A reconciliation of income tax expense at the federal statutory rate to the income tax provision at the Company's effective rate is as follows:

 

  

Year Ended

 
  

December 31, 2024

  

December 31, 2023

 
         

Income tax benefit at statutory rates

 $333,560  $2,131,064 

Valuation allowance for deferred tax assets

  (424,218)  (1,439,931)

Stock-based compensation

  367,824   (525,278)

Fixed assets

  (187,429)  — 

Other income (expense), net

  (150,061)  (181,050)

Reported income tax expense

 $(60,324) $(15,195)

Effective tax rate:

  3.4%  0.1%

 

The Company’s deferred tax assets and liabilities consisted of the following:

 

  

December 31, 2024

  

December 31, 2023

 

Deferred tax assets:

        

Net operating loss carryforwards

 $21,368,607  $20,088,873 

Intangible assets

  2,115,891   2,258,079 

Property and equipment

  618,260   1,104,854 

Research and development credits

  219,488   235,514 

Research and development

  206,718   268,414 

Inventory

  95,762   246,182 

Accrued expenses

  367,651   496,695 

Right of use asset

  10,873   7,366 

Allowance for credit losses

  94,113   64,250 

Charitable contributions

  34,613   40,773 

Unexercised options

  1,132,698   890,128 

Total deferred tax assets

  26,264,674   25,701,128 

Valuation allowance

  (26,264,674)  (25,701,128)

Total net deferred tax assets

 $—  $— 

 

The Company assesses its deferred tax assets and liabilities to determine if it is more likely than not, they will be realized; if not, a valuation allowance is required to be recorded. Management has determined it is more likely than not that the deferred tax assets would be realized, thus a full valuation allowance was recorded against the deferred tax assets. The Company may reduce the valuation allowance against definite-lived deferred tax assets at such a time when it becomes more likely than not that the definite-lived deferred tax assets will be realized. The change in the valuation allowance for deferred tax assets and liabilities for the years ended December 31, 2024 and 2023 were net increases of $0.6 million and $1.8 million, respectively.

 

As of December 31, 2024, the Company did not provide a current or deferred U.S. federal income tax provision or benefit for any of the periods presented because the Company has reported cumulative losses since inception. The Company has recorded a provision for state income taxes and a corresponding current state income tax payable of approximately $9,306 and $7,373 as of December 31, 2024 and 2023, respectively. 

 

The following table presents net operating losses (“NOLs”) and other income tax carryforwards for the following periods:

 

  

December 31, 2024

  

December 31, 2023

 

NOLs and other income tax carryforwards

        

Federal NOLs pre-2017 (1)

 $1,868,077  $1,868,077 

Federal NOLs post-2018 (2)

  82,744,578   77,796,820 

State NOLs (3)

  60,941,124   57,103,123 

Total NOLs

  145,553,779   136,768,020 

Credits (4)

  219,488   235,514 

Other carryforwards (4)

  1,333,552   581,020 

Total NOLs and other income tax carryforwards

 $147,106,819  $137,584,554 

(1) Can be carried forward for 20 years and which begin to expire in 2036

 

(2) Can be carried forward indefinitely.

 

(3) Can be carried forward for between 15 and 20 years and which begin to expire in 2031.

 

(4) Can be carried forward for between one and five years and which begin to expire in 2025.

 

 

The use of NOLs may be subject to certain limitations, such as those triggered by ownership changes under Section 382 of the Internal Revenue Code. Because these provisions, the use of a portion of our NOLs and tax credit carryforwards may be limited in future periods. Further, a portion of the carryforwards may expire before being applied to reduce future income tax liabilities.

 

GAAP requires management to evaluate and report information regarding its exposure to various tax positions taken by the Company. The Company has determined whether there are any tax positions that have met the recognition threshold and has measured the Company’s exposure to those tax positions. Management believes that the Company has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities. 

 

The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. U.S. and state jurisdictions have statutes of limitations that generally range from 3 to 5 years. 
v3.25.0.1
Note 10 - Stock Incentive Plan
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

10.

Stock Incentive Plan

 

The Company adopted an incentive plan (the “2020 Plan”) on September 22, 2020, to provide for the grant of stock options, stock appreciation rights, restricted stock awards, restricted stock units, deferred stock units, unrestricted stock, dividend equivalent rights, performance shares and other performance-based awards, other equity-based awards and cash bonus awards to Company employees, employees of the Company’s affiliates, non-employee directors and certain consultants and advisors. In May 2024, the Company's shareholders approved an amendment to the 2020 Plan to reserve an additional 1,536,742 shares for issuance. As of December 31, 2024, the Company was authorized to award 832,032 shares in future issuances under the 2020 Plan and 2,460,090 shares are outstanding and issuable upon vesting and exercise of outstanding options and rights. Previously, the Company had adopted its 2018 Equity Incentive Plan and 2016 Stock Incentive Plan (together with the 2020 Plan, the “Stock Incentive Plans”), under which the Company had issued stock options and RSUs. Following the effective date of the 2020 Plan, no additional awards may be made under the 2018 Equity Incentive Plan or 2016 Stock Incentive Plan. The Stock Incentive Plans were established to provide eligible individuals with an incentive to contribute to the Company’s success and to operate and manage the Company’s business in a manner that will provide for its long-term growth and profitability and that will benefit the Company’s shareholders and other stakeholders, including employees and customers. The Stock Incentive Plans are also intended to provide a means of recruiting, rewarding, and retaining key personnel.

 

Stock Options

 

The Stock Incentive Plans prescribe various terms and conditions for the award of options and the total number of shares authorized for this purpose. For options, the strike price is equal to the fair market value of the Company’s stock price at the date of grant. Generally, options become exercisable based on years of service and vesting schedules, and expire after (i) a period of ten years from the date of grant, (ii) three months following the date of termination of employment from the Company, (iii) one year following the date of termination from the Company by reason of death or disability, (iv) the date of termination of employment for cause, or (v) the fifth anniversary of the date of the grant if it is held by a 10 percent or greater stockholder.

 

The following tables summarize the Company’s stock option activity:

 

      

Weighted

  

Weighted

     
      

Average

  

Average

     
  

Options

  

Exercise Price

  

Contractual

  

Aggregate

 
  

Activity

  

(per share)

  

Term (years)

  

Intrinsic Value

 

Balance at January 1, 2024

  1,234,778  $4.52   7.91  $30,000 

Granted

  799,188  $0.73   —  $— 

Exercised/released (1)

  (300,250) $1.12   —  $— 

Cancelled/forfeited

  (103,288) $1.61   —  $— 

Balance at December 31, 2024

  1,630,428  $3.47   7.77  $8,770,109 

Exercisable at December 31, 2024

  516,040  $7.02   5.81  $1,573,308 

(1) Includes 86,643 shares of common stock which were withheld to cover option costs. 

 

      

Weighted

  

Weighted

     
      

Average

  

Average

     
  

Options

  

Exercise Price

  

Contractual

  

Aggregate

 
  

Activity

  

(per share)

  

Term (years)

  

Intrinsic Value

 

Balance at January 1, 2023

  921,657  $6.86   8.01  $— 

Granted

  700,000  $0.89   —  $— 

Exercised/released

  —  $—   —  $— 

Cancelled/forfeited

  (386,879) $3.54   —  $— 

Balance at December 31, 2023

  1,234,778  $4.52   7.91  $30,000 

Exercisable at December 31, 2023

  670,624  $4.80   7.28  $— 

 

The aggregate intrinsic value in the tables above, which is the amount by which the market value of the underlying stock exceeded the exercise price of outstanding options, is before applicable income taxes and represents the amount optionees would have realized if all in-the-money options had been exercised on the last business day of the period indicated.

 

The total intrinsic value of options vested was $682,988 and $0 in the years ended December 31, 2024 and 2023, respectively. The total intrinsic value of options exercised was $596,943 the year ended December 31, 2024, and no options were exercised in the year ended December 31, 2023.

 

The Company estimates the fair value of each stock option award on the date of grant using a Black-Scholes option-pricing model. ASC 718, Compensation - Stock Compensation (“ASC 718”), requires the use of the fair-value-based method for measuring the value of stock-based compensation. The estimated fair value of each grant of stock options awarded during the years ended December 31, 2024 and 2023 was determined using the following assumptions:

          

 

•

Expected Volatility. The expected volatility is based on the volatility of the historical stock prices of identified peer companies.

 

•

Expected Term. Due to the lack of a public market for the trading of shares of the Company’s common stock prior to the Company’s initial public offering that closed on September 25, 2020, and the lack of sufficient Company-specific historical data, the expected term of employee stock options is determined using the “simplified” method, as prescribed in SEC Staff Accounting Bulletin No. 107, Share Based Payments, whereby the expected life equals the arithmetic average of the vesting term and the original contractual term of the option.

 

•

Risk-free Interest Rate. The risk-free interest rate is based on the interest rate payable on United States Treasury yield curve in effect at the time of grant for a period that is commensurate with the assumed expected term.

 

•

Dividend Yield. The dividend yield is 0% because the Company has never paid, and for the foreseeable future does not expect to pay, dividend on its shares of common stock.

 

The inputs and assumptions used to estimate the fair value of share-based payment awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. As a result, if factors change and management uses different inputs and assumptions, the Company’s share-based compensation expense could be materially different for future awards. The grant-date fair value of stock options was estimated at the time of grant using the following weighted-average inputs and assumptions in the Black-Scholes option pricing model:

 

  

Year Ended

 
  

December 31,

 
  

2024

  

2023

 

Weighted-average expected volatility

  61.92%  59.43%

Weighted-average expected term (years)

  6.50   5.71 

Weighted-average expected risk-free interest rate

  4.27%  3.87%

Dividend yield

  —   — 

Weighted-average fair value of options granted

 $0.46  $0.57 

 

Restricted Stock Units

 

The following tables summarize the Company’s RSU activity:

 

      

Weighted Average

  

Weighted Average

     
      

Grant Date Fair

  

Remaining Vesting

  

Aggregate

 
  

Number of RSUs

  

Value (per share)

  

Term (years)

  

Fair Value

 

Balance at January 1, 2024

  771,885  $1.77   2.18  $1,480,161 

Granted

  828,650  $4.43   —  $— 

Exercised/released (1)

  (422,471) $1.55   —  $— 

Cancelled/forfeited

  (62,566) $1.27   —  $— 

Balance at December 31, 2024

  1,115,498  $3.85   3.26  $4,294,241 

(1) Includes 16,699 shares of common stock which were withheld to cover payroll taxes. 

 

      

Weighted Average

  

Weighted Average

     
      

Grant Date Fair

  

Remaining Vesting

  

Aggregate

 
  

Number of RSUs

  

Value (per share)

  

Term (years)

  

Fair Value

 

Balance at January 1, 2023

  504,420  $4.22   2.94  $2,127,734 

Granted

  745,000  $0.81   —  $— 

Exercised/released (1)

  (200,085) $3.86   —  $— 

Cancelled/forfeited

  (277,450) $2.14   —  $— 

Balance at December 31, 2023

  771,885  $1.77   2.18  $1,480,161 

(1) Includes 26,877 shares of common stock which were withheld to cover payroll taxes. 

 

The Company estimates the fair value of each RSU using the fair value of the Company’s stock on the date of grant for the purposes of calculating compensation costs. The total vest date fair value of RSUs vested was $1,135,692 and $158,349 in the years ended December 31, 2024 and 2023, respectively. The weighted-average fair market value of RSUs granted was $7.88 and $0.91 in the years ended December 31, 2024 and 2023, respectively. The total fair value of outstanding RSUs as of December 31, 2024, at the last market close price as of that date of $7.88, was $8,790,124. The total fair value of outstanding RSUs as of December 31, 2023, at the last market close price as of that date of $0.91, was $702,415.

 

Market-Based Stock Units

 

The following tables summarize the Company’s market-based stock unit (“MSU”) activity:

 

      

Weighted Average

  

Weighted Average

     
      

Grant Date Fair

  

Remaining Vesting

  

Aggregate

 
  

Number of MSUs

  

Value (per share)

  

Term (years)

  

Fair Value

 

Balance at January 1, 2024

  621,314  $1.57   0.60  $977,558 

Granted

  —  $—   —  $— 

Exercised/released

  (300,000) $0.14   —  $— 

Cancelled/forfeited

  (321,314) $2.91   —  $— 

Balance at December 31, 2024

  —  $—   —  $— 

 

      

Weighted Average

  

Weighted Average

     
      

Grant Date Fair

  

Remaining Vesting

  

Aggregate

 
  

Number of MSUs

  

Value (per share)

  

Term (years)

  

Fair Value

 

Balance at January 1, 2023

  31,083  $43.53   0.60  $1,353,043 

Granted

  600,000  $0.08   —  $— 

Exercised/released

  —  $—   —  $— 

Cancelled/forfeited

  (9,769) $43.53   —  $— 

Balance at December 31, 2023

  621,314  $1.57   0.60  $977,558 

 

These MSUs vested upon the 30-day weighted average stock price reaching or exceeding established targets, after reaching certain time targets. We estimated the grant-date fair value of the MSUs using a Monte Carlo simulation which required assumptions for expected volatility, risk-free rate of return and dividend yield. Expected volatility within the index were derived using historical volatility of a selected peer group over a period equal to the length of the performance period. We based the risk-free rate of return on the yield of a zero-coupon U.S. Treasury bond with a maturity equal to the performance period and assumed a 0% dividend rate. Compensation expense for these MSUs was recognized over the requisite service period regardless of whether the market conditions are satisfied.

 

The total vest date fair value of MSUs vested was $1,276,000 in the year ended December 31, 2024 and no MSUs vested in the year ended December 31, 2023. No MSUs were granted in the year ended December 31, 2024 and the weighted-average fair market value of MSUs granted was $0.91 in the year ended December 31, 2023. There were no outstanding MSUs as of December 31, 2024. The total fair value of outstanding MSUs as of December 31, 2023, at the last market close price as of that date of $0.91, was $565,396.

 

Stock-Based Compensation

 

Stock-based compensation expense is recognized ratably over the requisite service period for all awards. The following tables summarize the Company’s stock-based compensation recorded as a result of applying the provisions of ASC 718 to equity awards:

 

  

Year Ended

  

Unrecognized Compensation Cost Related to Non-Vested Awards as of

  

Weighted-Average Remaining Vesting Period as of

 
  

December 31, 2024

  

December 31, 2024

  

December 31, 2024 (years)

 

Stock options

 $345,129  $619,880   2.73 

RSUs

  1,264,920   3,464,390   3.55 

MSUs

  27,739   —   — 

Total stock-based compensation

 $1,637,788  $4,084,270   3.42 
             

Cost of goods sold

 $3,650  $9,648   3.88 

General and administrative

  1,494,315   3,807,481   3.49 

Sales and marketing

  139,823   267,141   4.41 

Total stock-based compensation

 $1,637,788  $4,084,270   3.42 

 

  

Year Ended

  

Unrecognized Compensation Cost Related to Non-Vested Awards as of

  

Weighted-Average Remaining Vesting Period as of

 
  

December 31, 2023

  

December 31, 2023

  

December 31, 2023 (years)

 

Stock options

 $456,902  $654,313   2.36 

RSUs

  658,717   1,099,972   2.17 

MSUs

  (23,473)  34,281   0.57 

Total stock-based compensation

 $1,092,146  $1,788,566   2.21 
             

Cost of goods sold

 $503  $2,976   1.62 

General and administrative

  849,784   1,666,980   2.29 

Sales and marketing

  241,859   118,610   0.99 

Total stock-based compensation

 $1,092,146  $1,788,566   2.21 
v3.25.0.1
Note 11 - Earnings Per Share
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

11.

Earnings per Share

 

Basic earnings (loss) per share is determined by dividing net loss attributable to Laird Superfood, Inc. common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is similarly determined, except that the denominator is increased to include the number of additional common and preferred shares that would have been outstanding if all dilutive potential common shares had been issued. Dilutive potential common shares consist of employee stock options, RSUs, and MSUs, the dilutive effect of which the Company calculated using the treasury stock method. Basic earnings per share is reconciled to diluted earnings per share in the following table:

 

  

Year Ended December 31,

 
  

2024

  

2023

 

Net loss

 $(1,820,161) $(10,163,117)

Weighted average shares outstanding - basic and diluted

  9,946,733   9,297,226 

Basic and diluted:

        

Net loss per share, basic and diluted

 $(0.18) $(1.09)

Common stock options, restricted stock awards, and market-based stock awards excluded due to anti-dilutive effect

  2,745,926   2,627,977 

 
v3.25.0.1
Note 12 - Concentrations
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

12.

Concentrations

 

The following table details the concentration of vendor accounts payable balances in excess of 10% of total accounts payable at each period:

 

 

December 31,

 

December 31,

 

2024

 

2023

Vendor A

14%

 

23%

Vendor B

18%

 

14%

Vendor C

*

 

10%

Vendor D

10%

 

*

Total

42%

 

47%

*The vendor accounts payable balance is below 10% of total accounts payable. 

 

The following table details the concentration of customer accounts receivable balances in excess of 10% of total gross accounts receivable at each period: 

 

 

December 31,

 

December 31,

 

2024

 

2023

Customer A

43%

 

46%

Customer B

20%

 

21%

Customer C

14%

 

*

Total

77%

 

67%

*The customer accounts receivable balance is below 10% of total gross accounts receivable.

 

The following table details the concentration of sales to specific customers in excess of 10% of total net sales for each year and the accounts receivable from those customers at the end of each period:

 

          

Accounts Receivable

 
  

Year ended December 31,

  

As of December 31,

 
  

2024

  

2023

  

2024

  

2023

 

Customer A

  15%  17% $927,465  $660,015 

Customer B

  16%  15%  436,026   310,396 

Customer C

  11%  12%  297,608   10,330 

Total

  42%  44% $1,661,099  $980,741 

 

During 2024 and 2023, the Company purchased a substantial portion of raw materials and packaging from certain suppliers. The following table details the concentration of purchases from specific suppliers in excess of 10% of total purchases for each period:

 

  

Year ended December 31,

 
  

2024

  

2023

 

Supplier A

  10%  * 

Supplier B

  15%  * 

Supplier C

  *   15%

Supplier D

  12%  * 

Supplier E

  *   23%

Total

  37%  38%

*Purchases from the supplier amounted to less than 10% of total purchases.

 

During 2024 and 2023, the Company purchased a substantial portion of raw materials and packaging from certain geographical regions. The following table details the concentration of purchases from specific foreign countries in excess of 10% of total purchases for each period:

 

 

Year ended December 31,

 

2024

 

2023

Country A

12%

 

*

Country B

12%

 

*

Country C

16%

 

*

Country D

10%

 

*

Country E

*

 

17%

Total

50%

 

17%

*Purchases from suppliers in the region amounted to less than 10% of total purchases.
v3.25.0.1
Note 13 - Related Party
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

13.

Related Party

 

FASB ASC Topic 850, Related Party Disclosures, requires that information about transactions with related parties that would make a difference in decision making shall be disclosed so that users of the consolidated financial statements can evaluate their significance. The Company conducts business with suppliers and service providers who are also shareholders of the Company. From time to time, service providers are offered shares of common stock as compensation for their services. Shares provided as compensation are calculated based on the fair value of the service provided and the most recent equity offering price (or market price post-IPO) per share. Additional related party transactions are noted below.

 

License Agreements

 

On May 26, 2020, the Company executed a License and Preservation Agreement which superseded the predecessor license and preservation agreement with both Mr. Hamilton and Ms. Reece. Among other modifications, the agreement (i) modified certain approval rights, (ii) modified certain assignment, change of control and indemnification provisions, and (iii) granted the Company the right to extend the term of the agreement for additional ten-year terms upon the expiration of the initial one-hundred-year term. No additional consideration was exchanged in connection with the agreement. See additional discussion related to the 2020 License in Note 6 of the consolidated financial statements.

 

Marketing Agreements

 

The Company has an influencer agreement with Gabrielle Reece to provide certain marketing services. In connection with these services, in the years ended December 31, 2024 and 2023, respectively, advertising expenses totaling $251,061 and $285,172 were included in sales and marketing expenses in the consolidated statements of operations. As of December 31, 2024 and December 31, 2023, amounts payable to Gabrielle Reece of $34,947 and $2,688, respectively, are included in related party liabilities in the consolidated balance sheets.
v3.25.0.1
Note 14 - Revenue Recognition
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

14.

Revenue Recognition

 

The Company’s primary source of revenue is sales of coffee creamers, hydration and beverage enhancing products, harvest snacks and other food items, and coffee, tea, and hot chocolate products. The Company recognizes revenue when control of the promised good is transferred to the customer and in amounts that the Company expects to collect. The timing of revenue recognition takes into consideration the various shipping terms, or customer pick-up, applicable to the Company’s sales. Each delivery or shipment made to a third-party customer is considered to satisfy a performance obligation. Performance obligations generally occur at a point in time and are satisfied when control of the goods passes to the customer. The Company is entitled to collect the sales price under normal credit terms. Additionally, the Company estimates the impact of certain common practices employed by us and other manufacturers of consumer products, such as scan-based trading, product rebate and other pricing allowances, product returns, trade promotions, sales broker commissions and slotting fees. These estimates are recorded at the end of each reporting period.

 

In accordance with ASC Topic 606, the Company disaggregates net sales from contracts with customers based on the characteristics of the products sold:

 

  

Year Ended December 31,

 
  

2024

  

2023

 
  

$

  

% of Total

  

$

  

% of Total

 

Coffee creamers

 $23,088,363   53% $20,425,029   60%

Coffee, tea, and hot chocolate products

  11,184,525   26%  7,968,956   23%

Hydration and beverage enhancing products

  9,207,964   21%  5,320,039   16%

Harvest snacks and other food items

  6,215,989   14%  6,883,980   20%

Other

  172,788   0%  435,388   1%

Gross sales

  49,869,629   114%  41,033,392   120%

Shipping income

  506,732   1%  899,921   3%

Discounts and promotional activity

  (7,081,224)  (15)%  (7,709,115)  (23)%

Sales, net

 $43,295,137   100% $34,224,198   100%

 

The Company generates revenue through two channels: e-commerce and wholesale:

 

  

Year Ended December 31,

 
  

2024

  

2023

 
  

$

  

% of Total

  

$

  

% of Total

 

E-commerce

 $25,642,366   59% $19,443,885   57%

Wholesale

  17,652,771   41%  14,780,313   43%

Sales, net

 $43,295,137   100% $34,224,198   100%

 

Receivables from contracts with customers are included in accounts receivable. Contract assets include deferred cost of goods sold associated with deferred revenue and are included in finished goods inventories. Contract liabilities include deferred revenue, customer deposits, rewards programs, and refund liabilities, and are included in accrued expenses. The balances of receivables from contracts with customers, contract assets, and contract liabilities were as follow:

 

  

January 1,

  

December 31,

  

December 31,

 
  

2023

  

2023

  

2024

 

Accounts receivable, net

 $1,494,469  $1,022,372  $1,762,911 

Contract liabilities

 $(729,667) $(427,974) $(348,869)

     

On  May 7, 2024, the Company entered into an accounts receivable factoring agreement (the “Factoring Agreement”) with Alterna Capital Solutions LLC (the “Purchaser”). The Factoring Agreement allows the Company to access up to $2 million on a revolving basis (the “Maximum Amount”). The upfront purchase price for factored accounts is up to 70% of their face value, with the remainder payable to the Company upon collection by the Purchaser. The proceeds will be used to fund general working capital needs. The Company will pay fees, including a funds usage fee (prime rate + 1.5%, minimum 10% per annum) and a collateral monitoring fee (0.05% per month). Pursuant to the Factoring Agreement, the Purchaser can require repurchase of uncollectable or ineligible accounts. 

 

The Factoring Agreement has an initial term of 12 months and will automatically renew annually, unless terminated in accordance with the Factoring Agreement. The Company may terminate the Factoring Agreement at any time upon 30 days prior written notice and payment to Purchaser of an early termination fee equal to 2.0% of the Maximum Amount if terminated during the first 12 months and 1.0% of the Maximum Amount during the subsequent terms.

 

The Company has granted a security interest in its personal property to secure the payment and performance of all obligations under the Factoring Agreement. The Factoring Agreement includes customary provisions, including representations, warranties and covenants, indemnification, waiver of jury trial, and the exercise of remedies upon a breach or default. 

 
v3.25.0.1
Note 15 - Reportable Segments
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

15.

Reportable Segments

 

In accordance with ASC 280, Segment Reporting (“ASC 280”), the Company considers operating segment(s) to be components of the Company’s business for which separate financial information is available and is evaluated regularly by management in deciding how to allocate resources and in assessing performance. 

 

The Company manages their business through one operating and reportable segment: superfood. The superfood segment provides customers with clean, functional, and sustainability-conscious alternatives in an industry rife with ultra-processed ingredients and laden with artificial sweeteners. This segment includes the sales of (i) coffee creamers, (ii) hydration and beverage enhancing products, (iii) harvest snacks and other food items, and (iv) coffee, tea, and hot chocolate products. Substantially all revenue is derived from domestic product sales. The accounting policies of the superfood segment are the same as those described in the summary of significant accounting policies. The Company does not have intra-entity sales or transfers.

 

The Company's chief operating decision maker (“CODM”) is the Chief Executive Officer.

 

The CODM assesses segment performance and allocates resources based on consolidated net income. All expense categories on the consolidated statements of operations are significant and there are no other significant segment expenses that would require disclosure. The CODM uses consolidated net income to assess operating performance as compared to prior results, annual operating plans, iterative periodic forecasts, and our competitors. The CODM uses this information to allocate future operating and capital expenditures. The measure of segment assets is reported on the consolidated balance sheets as total assets.

 
v3.25.0.1
Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Consolidation, Policy [Policy Text Block]

Principles of Consolidation

 

All significant intercompany accounts and transactions have been eliminated in our accompanying consolidated financial statements.

 
Use of Estimates, Policy [Policy Text Block]

Use of Estimates

 

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses during the reporting period. The Company bases its estimates and assumptions on historical experience, known trends and events and various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Although management believes its estimates and assumptions are reasonable when made, they are based upon information available at the time they are made. Management evaluates the estimates and assumptions on an ongoing basis and, if necessary, makes adjustments. Due to the risks and uncertainties involved in the Company’s business and evolving market conditions and given the subjective element of the estimates and assumptions made, actual results may differ from estimated results. The most significant estimates and judgments include those related to allowances for credit losses and returns, inventory obsolescence, goodwill, intangible assets, valuation allowance for deferred taxes, reserves on prepaid expenses, variable consideration in contracts with customers, and fair value of stock-based compensation.

 
Cash and Cash Equivalents, Policy [Policy Text Block]

Cash, Cash Equivalents, and Restricted Cash

 

Cash, cash equivalents, and restricted cash are highly liquid instruments with an original maturity of three months or less when purchased. For the purposes of the consolidated statements of cash flows, the Company includes cash on hand, cash in clearing accounts, cash on deposit with financial institutions, investments with an original maturity of three months or less, and restricted cash in determining the total balance.

 
Accounts Receivable [Policy Text Block]

Accounts Receivable

 

Accounts receivable consist principally of trade receivables, which are recorded at the invoiced amount, net of allowances for credit losses. Trade receivables do not bear interest. Receivables are considered past due or delinquent according to contract terms. Management closely monitors outstanding balances and writes off accounts receivable as they are determined uncollectible. The Company provides for estimated losses on accounts receivable based on a forward-looking expected credit loss models based on historical experience, current economic conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. These estimated allowances for credit losses include both allowances for non-payment as well as reserves for trade promotional contracts with wholesale customers. 

 

The following table summarizes the components of estimated allowances for credit losses:

 

  

December 31,

  

December 31,

 
  

2024

  

2023

 

Allowance for bad debts

 $16,107  $37,201 

Trade promotion reserves

  953,061   901,917 

Factoring payable (receivable)

  (1,534)  — 

Total allowances for credit losses

 $967,634  $939,118 

 
Inventory, Policy [Policy Text Block]

Inventory

 

Inventory is stated at the lower of cost or net realizable value, or the value of consideration that can be received upon sale of said product, and approximate costs determined on the first-in first-out basis and consists primarily of raw materials, packaging, and finished goods, which include co-packing fees, indirect labor and allocable overhead.

 
Prepaid and Other Current Assets [Policy Text Block]

Prepaid Expenses and Other Current Assets

 

Prepaid expenses are recognized as an asset upon payment, prior to the realizability of the service or receipt of goods. They are subsequently amortized either on a straight-line basis according to contractual terms, when services or arrangements are rendered, or when goods are received. Deposits are recognized when paid and are relieved either upon refund or upon determining that the deposit will not be refunded. Other current assets are recognized when estimable and realizable. 

 
Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

 

Property and equipment are valued at cost, net of accumulated depreciation. Expenditures for maintenance and repairs that do not extend the useful life or increase the value of the assets are charged to expense in the period incurred. Additions and betterments are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Estimated useful lives for depreciation purposes for furniture and equipment range from 2 to 5 years. The useful life for leasehold improvements is the lesser of the lease term or the useful life. Construction in progress is not depreciated until such a time that the assets are completed and placed into service.

 
Lessee, Leases [Policy Text Block]

Leases

 

In accordance with ASC 842, Leases (“ASC 842”), the Company accounts for a contract as a lease when it has the right to control the asset for a period of time while obtaining substantially all of the asset’s economic benefits. We categorize leases at their inception as either operating, finance, or short-term leases and determine if an arrangement contains an embedded lease. For arrangements that meet the definition of a lease, the Company determines the initial classification and measurement of its right-of-use asset and lease liability at the lease commencement date and, thereafter, if modified. The lease term includes any renewal options that the Company is reasonably assured to exercise. Lease agreements effective during the years ended December 31, 2024 and 2023 cover, or covered, office space, and vehicles. All of our long-term leases are operating leases. Operating leases are included in right-of-use assets, current lease liabilities, and long-term lease liabilities in our consolidated balance sheets.

 

In addition to rent, the leases may require the Company to pay additional costs, such as utilities, maintenance, and other operating costs, which are generally referred to as non-lease components. The Company has elected to not separate lease and non-lease components. Only the fixed costs for lease components and their associated non-lease components are accounted for as a single lease component and recognized as part of a right-of-use asset and liability. Lease-related liabilities are recognized at the present value of the remaining contractual fixed lease payments, discounted using our incremental borrowing rate. Operating lease expense is recognized on a straight-line basis over the lease term, while variable lease payments are expensed as incurred.

 

Leased assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. We use a secured incremental borrowing rate as the discount rate for the present value of lease payments when the rate implicit in the contract is not readily determinable. For operating leases with variable payments dependent upon an index or rate, we apply the active index or rate as of the lease commencement date. Variable lease payments not based on an index or rate are not included in the operating lease liability as they cannot be reasonably estimated and are recognized in the period in which the obligation for those payments is incurred. Leases that have a term of twelve months or less upon commencement date are considered short-term in nature. Accordingly, short-term leases are not included on the consolidated balance sheets and are expensed on a straight-line basis over the lease term, which commences on the date we have the right to control the property.

 

We were the lessor in a sublease agreement. This lease was an operating lease and was recognized straight line over the lease term with a related sublease rental asset accounting for abatements and initial direct costs. Sublease income was recognized in other income and expenses in the statements of operations. The sublease was terminated without penalty effective October 31, 2024. 

 
Revenue from Contract with Customer [Policy Text Block]

Revenue Recognition

 

The Company recognizes revenue in accordance with the five-step model as prescribed by ASC 606, Revenue from Contracts with Customers (“ASC 606”) in which the Company evaluates the transfer of promised goods or services and recognizes revenue when its customer obtains control of promised goods or services in an amount that reflects the consideration which the Company expects to be entitled to receive in exchange for those goods or services. To determine revenue recognition for the arrangements that the Company determines are within the scope of ASC 606, the Company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. See Note 14 for additional information regarding revenue recognition. The Company has elected, as a practical expedient, to account for the shipping and handling as fulfillment costs, rather than as a separate performance obligation. Methodologies for determining these provisions are dependent on customer pricing and promotional practices. The Company records reductions to revenue and a refund liability for estimated product returns and pricing adjustments in the same period that the related revenue is recorded. These estimates will be based on industry-based historical data, historical sales returns, if any, analysis of credit memo data, and other factors known at the time.

 
Cost of Goods and Service [Policy Text Block]

Cost of Goods Sold

 

Cost of goods sold includes the cost of products purchased, packaging, co-packers' tolling fees, inbound and outbound freight costs, indirect labor, third party labor to store and ship our products, and overhead costs incurred in the storage and distribution of products sold in the period.  

 
Shipping And Handling [Policy Text Block]

Shipping and Handling

 

Costs of shipping and handling related to sales revenue are included in cost of goods sold. Shipping and handling costs totaled $5,189,469 and $5,223,257 for the years ended December 31, 2024 and 2023, respectively. Income generated from shipping costs billed through to customers was included in Sales, net in the consolidated statements of operations. Shipping income totaled $506,732 and $899,921 for the years ended December 31, 2024 and 2023, respectively.

 
Research and Development Expense, Policy [Policy Text Block]

Research and Product Development

 

Amounts spent on research and development activities are expensed as incurred and are included in general and administrative expenses on the statements of operations. Research and product development expense was $114,144 and $219,723 for the years ended December 31, 2024 and 2023, respectively.

 
Advertising Cost [Policy Text Block]

Marketing and advertising

 

Marketing and advertising costs are expensed when incurred. For the years ended December 31, 2024 and 2023, these costs amounted to $6,735,672 and $7,886,031, respectively, including related party marketing costs.

 
Income Tax, Policy [Policy Text Block]

Income Taxes

 

Income taxes provide for the tax effects of transactions reported in the consolidated financial statements and consist of income taxes currently due and deferred tax assets and liabilities. The Company may also be subject to interest and penalties from taxing authorities on underpayment of income taxes. In such an event, interest and penalties are included in income tax expense. Deferred tax assets and liabilities are recognized for differences between the basis of assets and liabilities for financial statement and income tax purposes. The differences relate primarily to depreciable and amortizable assets (use of different depreciation and amortization methods and lives for financial statement and income tax purposes), stock-based compensation, operating lease right-of-use assets and lease liabilities, and net operating losses. The deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. 

 
Share-Based Payment Arrangement [Policy Text Block]

Stock Incentive Plan

 

The compensation cost relating to share-based payment transactions is recognized in the consolidated financial statements. The cost is measured based on the grant date fair value of the equity or liability instruments issued. Compensation cost for all employee stock awards is calculated and recognized over the employees’ service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. Compensation cost for all consultant stock awards is calculated and recognized over the consultant’s service period based on the grant date fair value of the equity or liability instruments issued. Upon exercise of stock option awards or vesting of restricted stock units (“RSUs”) and market-based stock units (“MSUs”), recipients are issued shares of common stock. Pre-vesting forfeitures result in the reversal of all compensation cost as of the date of termination; post-vesting cancellation does not.

 
Earnings Per Share, Policy [Policy Text Block]

Earnings per Share

 

Basic earnings per share is computed on the basis of the weighted average number of shares of common stock that were outstanding during the period. Diluted earnings per share is similarly determined, except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if all dilutive potential common stock and preferred stock had been issued and are calculated under the treasury stock method. Due to the Company’s net loss, all stock options, unvested restricted stock, and convertible preferred stock are anti-dilutive and excluded.

 
Goodwill and Intangible Assets, Intangible Assets, Indefinite-Lived, Policy [Policy Text Block]

Indefinite Lived Intangible Assets

 

Indefinite lived intangible assets are valued at cost. The Company assesses qualitative factors each reporting period to determine whether events and circumstances exist that indicate that the fair values of the indefinite lived intangible assets are less than the carrying amounts. Upon considering these factors, the Company determines whether or not it is more likely than not that the fair values of the assets are less than the carrying amounts. If the fair value is less than the carrying value, impairment would be recognized.

 
Intangible Assets, Finite-Lived, Policy [Policy Text Block]

Definite Lived Intangible Assets, net

 

Definite lived intangible assets are valued at cost, net of accumulated amortization. Amortization is computed using the straight-line method over the estimated useful lives of the assets. Estimated useful lives for amortization purposes range between 3 and 10 years. Amortization expense is allocated to general and administrative expense. The Company assesses qualitative factors each reporting period to determine whether events and circumstances exist that indicate that the fair values of the definite lived intangible assets were less than the carrying amounts.

 
Pension and Other Postretirement Plans, Policy [Policy Text Block]

Employee Benefit Plan

 

The Company sponsors a defined contribution 401(k) plan (the “401(k) plan”) for all employees 18 years of age or older. Employee contributions may be made on a before-tax basis, limited by Internal Revenue Service regulations. Contributions of $136,074 were remitted during the year ended December 31, 2024. No contributions were remitted during the year ended December 31, 2023. As of December 31, 2024 and 2023, there were $129,301 and $155,815 of employer 401(k) contribution liabilities, respectively, included in accrued expenses on the consolidated balance sheets.

 
Jobs Act Election [Policy Text Block]

JOBS Act Accounting Election

 

The Company qualifies as an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. An emerging growth company can elect to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. Currently, the Company has elected to file as an emerging growth company defined under the JOBS Act, and as such, these consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.

 
Commitments and Contingencies, Policy [Policy Text Block]

Loss Contingencies

 

We may be subject to contingencies arising in the ordinary course of business, such as product liability and other product-related litigation, commercial litigation, environmental claims and proceedings, government investigations and guarantees and indemnifications. In assessing contingencies related to legal and environmental proceedings that are pending against the Company, or unasserted claims that are probable of being asserted, we record accruals for these contingencies to the extent that we conclude that a loss is both probable and reasonably estimable. If some amount within a range of loss appears to be a better estimate than any other amount within the range, we accrue that amount. Alternatively, when no amount within a range of loss appears to be a better estimate than any other amount, we accrue the lowest amount in the range. We record anticipated recoveries under existing insurance contracts when recovery is assured.

 
Recoveries on Claims for Business Interruptions [Policy Text Block]

Recoveries on claims for business interruptions

 

In the first quarter of 2023, we discovered a product quality issue with coconut milk powder from one of our suppliers and immediately initiated a voluntary product withdrawal and contacted all impacted wholesale customers and e-commerce consumers to aggressively pull back as much as of the affected product as possible. In connection with this withdrawal, we incurred costs associated with inventory obsolescence, quality testing, and remedial discounts and replacement orders of $0.5 million in the fourth quarter of 2022 and $0.4 million in the first quarter of 2023. In the third quarter of 2023 and the third quarter of 2024, we reached settlement agreements with the vendor, in connection with which we recovered approximately $0.5 million. We implemented a robust new sensory testing program to prevent future quality issues.

 
New Accounting Pronouncements, Policy [Policy Text Block]

Recently Adopted Accounting Pronouncements

 

In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which expanded annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The expanded annual disclosures are effective for our year ended December 31, 2024, and the expanded interim disclosures are effective in 2025 and were applied retrospectively to all prior periods presented. See Note 15 for further information on our reportable segment. 

 

Recently Issued Accounting Pronouncements

 

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires, among other things, additional disclosures primarily related to the income tax rate reconciliation and income taxes paid. The expanded annual disclosures are effective for our year ending December 31, 2025. The Company is currently evaluating the impact that ASU 2023-09 will have on our consolidated financial statements and whether we will apply the standard prospectively or retrospectively.

 

In November 2024, the FASB issued ASU 2024-03, Income Statement -Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03"). ASU 2024-03 requires additional disclosures about the nature of expenses included in the income statement, such as purchases of inventory, employee compensation, and depreciation. ASU 2024-03 is effective for public business entities for annual periods beginning after December 15, 2026, and interim reporting periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2024-03 on its financial statements and related disclosures.

 
Subsequent Events, Policy [Policy Text Block]

Subsequent Events

 

Subsequent events are events or transactions that occur after the balance sheet date but before the consolidated financial statements are available to be issued. The Company has evaluated events and transactions subsequent to December 31, 2024 for potential recognition of disclosure in the financial consolidated statements.
v3.25.0.1
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Notes Tables  
Accounts Receivable, Allowance for Credit Loss [Table Text Block]
  

December 31,

  

December 31,

 
  

2024

  

2023

 

Allowance for bad debts

 $16,107  $37,201 

Trade promotion reserves

  953,061   901,917 

Factoring payable (receivable)

  (1,534)  — 

Total allowances for credit losses

 $967,634  $939,118 
v3.25.0.1
Note 2 - Cash, Cash Equivalents, and Restricted Cash (Tables)
 12 Months Ended
Dec. 31, 2024
Notes Tables  
Schedule of Cash and Cash Equivalents [Table Text Block]
  

December 31,

  

December 31,

 
  

2024

  

2023

 

Cash and cash equivalents

 $8,339,918  $7,566,299 

Restricted cash

  174,234   140,507 

Total cash, cash equivalents, and restricted cash

 $8,514,152  $7,706,806 
v3.25.0.1
Note 3 - Inventory (Tables)
 12 Months Ended
Dec. 31, 2024
Notes Tables  
Schedule of Inventory, Current [Table Text Block]
  

December 31,

  

December 31,

 
  

2024

  

2023

 

Raw materials and packaging

 $3,049,399  $2,180,294 

Finished goods

  2,926,277   4,142,265 

Total Inventory

 $5,975,676  $6,322,559 
  

December 31,

  

December 31,

 
  

2024

  

2023

 

Estimated based on inventory turnover, quantities on hand, and expiration dates

 $132,557  $385,069 

Discontinued product

  293,235   338,312 

Product quarantined for product quality

  —   306,276 

Total inventory reserves

 $425,792  $1,029,657 
v3.25.0.1
Note 4 - Prepaid Expenses and Other Current Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Notes Tables  
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]
    December 31,     December 31,  
   

2024

    

2023

  

Prepaid expenses

   $ 568,549     $ 532,131  

Prepaid inventory

     871,406       449,242  

Deposits

     222,483       238,719  

Other current assets

     51,451       65,472  

Prepaid expenses and other current assets

   $ 1,713,889     $ 1,285,564  
v3.25.0.1
Note 5 - Property and Equipment, Net (Tables)
 12 Months Ended
Dec. 31, 2024
Notes Tables  
Property, Plant and Equipment [Table Text Block]
  

December 31, 2024

  

December 31, 2023

 
  

Gross Carrying Amount

  

Accumulated Depreciation

  

Net Carrying Amount

  

Gross Carrying Amount

  

Accumulated Depreciation

  

Net Carrying Amount

 

Furniture and office equipment

 $199,085  $(155,437) $43,648  $184,241  $(85,093) $99,148 

Leasehold improvements

  21,261   (6,462)  14,799   46,276   (22,829)  23,447 
  $220,346  $(161,899) $58,447  $230,517  $(107,922) $122,595 
v3.25.0.1
Note 6 - Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Notes Tables  
Schedule of Finite-Lived Intangible Assets [Table Text Block]
  

December 31, 2024

  

December 31, 2023

 
  

Gross Carrying Amount

  

Accumulated Amortization

  

Net Carrying Amount

  

Gross Carrying Amount

  

Accumulated Amortization

  

Net Carrying Amount

 

Trade names (10 years)

 $890,827  $(213,798) $677,029  $890,827  $(106,899) $783,928 

Recipes (10 years)

  330,000   (121,000)  209,000   330,000   (88,000)  242,000 

Social media agreements (3 years)

  80,000   (80,000)  —   80,000   (71,111)  8,889 

Software (3 years)

  131,708   (121,614)  10,094   131,708   (81,294)  50,414 

Definite-lived intangible assets

  1,432,535   (536,412)  896,123   1,432,535   (347,304)  1,085,231 

Licensing agreements (indefinite)

  132,100   —   132,100   132,100   —   132,100 

Total intangible assets

 $1,564,635  $(536,412) $1,028,223  $1,564,635  $(347,304) $1,217,331 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

2025

 $149,994 

2026

  139,899 

2027

  139,899 

2028

  139,899 

2029

  139,899 

Thereafter

  186,533 
  $896,123 
v3.25.0.1
Note 7 - Accrued Expenses (Tables)
 12 Months Ended
Dec. 31, 2024
Notes Tables  
Schedule of Accrued Liabilities [Table Text Block]
  

December 31,

  

December 31,

 
  

2024

  

2023

 

Accrued compensation and benefits

 $1,993,008  $1,166,321 

Accrued accounts payable

  1,082,789   677,492 

Other accrued expenses

  567,201   742,530 

Accrued expenses

 $3,642,998  $2,586,343 
v3.25.0.1
Note 8 - Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Notes Tables  
Lease, Cost [Table Text Block]
  

Year Ended

  

December 31, 2024

  

December 31, 2023

 

Operating leases

        

Operating lease cost

 $142,321  $152,338 

Variable lease cost

  19,504   29,576 

Operating lease expense

  161,825   181,914 

Short-term lease rent expense

  317,792   337,584 

Total rent expense

 $479,617  $519,498 
  

Year Ended

  

December 31, 2024

  

December 31, 2023

 

Operating cash flows - operating leases

 $128,426  $126,434 

Right-of-use assets obtained in exchange for operating lease liabilities

 $—  $344,382 
  

December 31, 2024

  

December 31, 2023

 

Weighted-average remaining lease term – operating leases (in years)

  2.5   3.0 

Weighted-average discount rate – operating leases

  7.50%  6.71%
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]

2025

 $105,966 

2026

  109,145 

2027

  56,210 

Total

  271,321 

Less imputed interest

  (24,891)

Operating lease liabilities

 $246,430 
Operating Lease, Lease Income [Table Text Block]
  

Year Ended

 
  

December 31, 2024

  

December 31, 2023

 

Operating leases

        

Operating lease income

 $46,849  $56,219 

Variable lease income

  17,722   21,270 

Total rental income

 $64,571  $77,489 
v3.25.0.1
Note 9 - Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Notes Tables  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
  

Year Ended

 
  

December 31, 2024

  

December 31, 2023

 
         

Income tax benefit at statutory rates

 $333,560  $2,131,064 

Valuation allowance for deferred tax assets

  (424,218)  (1,439,931)

Stock-based compensation

  367,824   (525,278)

Fixed assets

  (187,429)  — 

Other income (expense), net

  (150,061)  (181,050)

Reported income tax expense

 $(60,324) $(15,195)

Effective tax rate:

  3.4%  0.1%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
  

December 31, 2024

  

December 31, 2023

 

Deferred tax assets:

        

Net operating loss carryforwards

 $21,368,607  $20,088,873 

Intangible assets

  2,115,891   2,258,079 

Property and equipment

  618,260   1,104,854 

Research and development credits

  219,488   235,514 

Research and development

  206,718   268,414 

Inventory

  95,762   246,182 

Accrued expenses

  367,651   496,695 

Right of use asset

  10,873   7,366 

Allowance for credit losses

  94,113   64,250 

Charitable contributions

  34,613   40,773 

Unexercised options

  1,132,698   890,128 

Total deferred tax assets

  26,264,674   25,701,128 

Valuation allowance

  (26,264,674)  (25,701,128)

Total net deferred tax assets

 $—  $— 
Summary of Operating Loss Carryforwards [Table Text Block]
  

December 31, 2024

  

December 31, 2023

 

NOLs and other income tax carryforwards

        

Federal NOLs pre-2017 (1)

 $1,868,077  $1,868,077 

Federal NOLs post-2018 (2)

  82,744,578   77,796,820 

State NOLs (3)

  60,941,124   57,103,123 

Total NOLs

  145,553,779   136,768,020 

Credits (4)

  219,488   235,514 

Other carryforwards (4)

  1,333,552   581,020 

Total NOLs and other income tax carryforwards

 $147,106,819  $137,584,554 

(1) Can be carried forward for 20 years and which begin to expire in 2036

 

(2) Can be carried forward indefinitely.

 

(3) Can be carried forward for between 15 and 20 years and which begin to expire in 2031.

 

(4) Can be carried forward for between one and five years and which begin to expire in 2025.

 
v3.25.0.1
Note 10 - Stock Incentive Plan (Tables)
 12 Months Ended
Dec. 31, 2024
Notes Tables  
Share-Based Payment Arrangement, Option, Activity [Table Text Block]
      

Weighted

  

Weighted

     
      

Average

  

Average

     
  

Options

  

Exercise Price

  

Contractual

  

Aggregate

 
  

Activity

  

(per share)

  

Term (years)

  

Intrinsic Value

 

Balance at January 1, 2024

  1,234,778  $4.52   7.91  $30,000 

Granted

  799,188  $0.73   —  $— 

Exercised/released (1)

  (300,250) $1.12   —  $— 

Cancelled/forfeited

  (103,288) $1.61   —  $— 

Balance at December 31, 2024

  1,630,428  $3.47   7.77  $8,770,109 

Exercisable at December 31, 2024

  516,040  $7.02   5.81  $1,573,308 
      

Weighted

  

Weighted

     
      

Average

  

Average

     
  

Options

  

Exercise Price

  

Contractual

  

Aggregate

 
  

Activity

  

(per share)

  

Term (years)

  

Intrinsic Value

 

Balance at January 1, 2023

  921,657  $6.86   8.01  $— 

Granted

  700,000  $0.89   —  $— 

Exercised/released

  —  $—   —  $— 

Cancelled/forfeited

  (386,879) $3.54   —  $— 

Balance at December 31, 2023

  1,234,778  $4.52   7.91  $30,000 

Exercisable at December 31, 2023

  670,624  $4.80   7.28  $— 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
  

Year Ended

 
  

December 31,

 
  

2024

  

2023

 

Weighted-average expected volatility

  61.92%  59.43%

Weighted-average expected term (years)

  6.50   5.71 

Weighted-average expected risk-free interest rate

  4.27%  3.87%

Dividend yield

  —   — 

Weighted-average fair value of options granted

 $0.46  $0.57 
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]
      

Weighted Average

  

Weighted Average

     
      

Grant Date Fair

  

Remaining Vesting

  

Aggregate

 
  

Number of RSUs

  

Value (per share)

  

Term (years)

  

Fair Value

 

Balance at January 1, 2024

  771,885  $1.77   2.18  $1,480,161 

Granted

  828,650  $4.43   —  $— 

Exercised/released (1)

  (422,471) $1.55   —  $— 

Cancelled/forfeited

  (62,566) $1.27   —  $— 

Balance at December 31, 2024

  1,115,498  $3.85   3.26  $4,294,241 
      

Weighted Average

  

Weighted Average

     
      

Grant Date Fair

  

Remaining Vesting

  

Aggregate

 
  

Number of RSUs

  

Value (per share)

  

Term (years)

  

Fair Value

 

Balance at January 1, 2023

  504,420  $4.22   2.94  $2,127,734 

Granted

  745,000  $0.81   —  $— 

Exercised/released (1)

  (200,085) $3.86   —  $— 

Cancelled/forfeited

  (277,450) $2.14   —  $— 

Balance at December 31, 2023

  771,885  $1.77   2.18  $1,480,161 
Share-Based Payment Arrangement, Activity [Table Text Block]
      

Weighted Average

  

Weighted Average

     
      

Grant Date Fair

  

Remaining Vesting

  

Aggregate

 
  

Number of MSUs

  

Value (per share)

  

Term (years)

  

Fair Value

 

Balance at January 1, 2024

  621,314  $1.57   0.60  $977,558 

Granted

  —  $—   —  $— 

Exercised/released

  (300,000) $0.14   —  $— 

Cancelled/forfeited

  (321,314) $2.91   —  $— 

Balance at December 31, 2024

  —  $—   —  $— 
      

Weighted Average

  

Weighted Average

     
      

Grant Date Fair

  

Remaining Vesting

  

Aggregate

 
  

Number of MSUs

  

Value (per share)

  

Term (years)

  

Fair Value

 

Balance at January 1, 2023

  31,083  $43.53   0.60  $1,353,043 

Granted

  600,000  $0.08   —  $— 

Exercised/released

  —  $—   —  $— 

Cancelled/forfeited

  (9,769) $43.53   —  $— 

Balance at December 31, 2023

  621,314  $1.57   0.60  $977,558 
Share-Based Payment Arrangement, Cost by Plan [Table Text Block]
  

Year Ended

  

Unrecognized Compensation Cost Related to Non-Vested Awards as of

  

Weighted-Average Remaining Vesting Period as of

 
  

December 31, 2024

  

December 31, 2024

  

December 31, 2024 (years)

 

Stock options

 $345,129  $619,880   2.73 

RSUs

  1,264,920   3,464,390   3.55 

MSUs

  27,739   —   — 

Total stock-based compensation

 $1,637,788  $4,084,270   3.42 
             

Cost of goods sold

 $3,650  $9,648   3.88 

General and administrative

  1,494,315   3,807,481   3.49 

Sales and marketing

  139,823   267,141   4.41 

Total stock-based compensation

 $1,637,788  $4,084,270   3.42 
  

Year Ended

  

Unrecognized Compensation Cost Related to Non-Vested Awards as of

  

Weighted-Average Remaining Vesting Period as of

 
  

December 31, 2023

  

December 31, 2023

  

December 31, 2023 (years)

 

Stock options

 $456,902  $654,313   2.36 

RSUs

  658,717   1,099,972   2.17 

MSUs

  (23,473)  34,281   0.57 

Total stock-based compensation

 $1,092,146  $1,788,566   2.21 
             

Cost of goods sold

 $503  $2,976   1.62 

General and administrative

  849,784   1,666,980   2.29 

Sales and marketing

  241,859   118,610   0.99 

Total stock-based compensation

 $1,092,146  $1,788,566   2.21 
v3.25.0.1
Note 11 - Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2024
Notes Tables  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
  

Year Ended December 31,

 
  

2024

  

2023

 

Net loss

 $(1,820,161) $(10,163,117)

Weighted average shares outstanding - basic and diluted

  9,946,733   9,297,226 

Basic and diluted:

        

Net loss per share, basic and diluted

 $(0.18) $(1.09)

Common stock options, restricted stock awards, and market-based stock awards excluded due to anti-dilutive effect

  2,745,926   2,627,977 

 
v3.25.0.1
Note 12 - Concentrations (Tables)
 12 Months Ended
Dec. 31, 2024
Notes Tables  
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]
 

December 31,

 

December 31,

 

2024

 

2023

Vendor A

14%

 

23%

Vendor B

18%

 

14%

Vendor C

*

 

10%

Vendor D

10%

 

*

Total

42%

 

47%

 

December 31,

 

December 31,

 

2024

 

2023

Customer A

43%

 

46%

Customer B

20%

 

21%

Customer C

14%

 

*

Total

77%

 

67%

          

Accounts Receivable

 
  

Year ended December 31,

  

As of December 31,

 
  

2024

  

2023

  

2024

  

2023

 

Customer A

  15%  17% $927,465  $660,015 

Customer B

  16%  15%  436,026   310,396 

Customer C

  11%  12%  297,608   10,330 

Total

  42%  44% $1,661,099  $980,741 
  

Year ended December 31,

 
  

2024

  

2023

 

Supplier A

  10%  * 

Supplier B

  15%  * 

Supplier C

  *   15%

Supplier D

  12%  * 

Supplier E

  *   23%

Total

  37%  38%
 

Year ended December 31,

 

2024

 

2023

Country A

12%

 

*

Country B

12%

 

*

Country C

16%

 

*

Country D

10%

 

*

Country E

*

 

17%

Total

50%

 

17%
v3.25.0.1
Note 14 - Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2024
Notes Tables  
Disaggregation of Revenue [Table Text Block]
  

Year Ended December 31,

 
  

2024

  

2023

 
  

$

  

% of Total

  

$

  

% of Total

 

Coffee creamers

 $23,088,363   53% $20,425,029   60%

Coffee, tea, and hot chocolate products

  11,184,525   26%  7,968,956   23%

Hydration and beverage enhancing products

  9,207,964   21%  5,320,039   16%

Harvest snacks and other food items

  6,215,989   14%  6,883,980   20%

Other

  172,788   0%  435,388   1%

Gross sales

  49,869,629   114%  41,033,392   120%

Shipping income

  506,732   1%  899,921   3%

Discounts and promotional activity

  (7,081,224)  (15)%  (7,709,115)  (23)%

Sales, net

 $43,295,137   100% $34,224,198   100%
Disaggregation of Revenue Based on Channels [Table Text Block]
  

Year Ended December 31,

 
  

2024

  

2023

 
  

$

  

% of Total

  

$

  

% of Total

 

E-commerce

 $25,642,366   59% $19,443,885   57%

Wholesale

  17,652,771   41%  14,780,313   43%

Sales, net

 $43,295,137   100% $34,224,198   100%
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]
  

January 1,

  

December 31,

  

December 31,

 
  

2023

  

2023

  

2024

 

Accounts receivable, net

 $1,494,469  $1,022,372  $1,762,911 

Contract liabilities

 $(729,667) $(427,974) $(348,869)
v3.25.0.1
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details Textual)
 3 Months Ended 12 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Number of Reportable Segments         1  
Cost of Goods and Services Sold         $ 25,607,556 $ 23,910,921
Revenue from Contract with Customer, Excluding Assessed Tax         43,295,137 34,224,198
Research and Development Expense         114,144 219,723
Marketing and Advertising Expense, Including Related Party Marketing Costs         6,735,672 7,886,031
Defined Contribution Plan, Cost         136,074 0
Liability, Defined Benefit Pension Plan, Current         129,301 $ 155,815
Costs Associated With Inventory Obsolescence, Quality Testing and Remedial Discounts and Replacement Orders     $ 400,000 $ 500,000    
Amount Recognized From Settlement With Vendors $ 500,000 $ 500,000        
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]           Nonoperating Income (Expense)
Shipping and Handling [Member]            
Cost of Goods and Services Sold         5,189,469 $ 5,223,257
Revenue from Contract with Customer, Excluding Assessed Tax         $ 506,732 $ 899,921
Minimum [Member]            
Property, Plant and Equipment, Useful Life (Year)         2 years  
Finite-Lived Intangible Asset, Useful Life (Year)         3 years  
Maximum [Member]            
Property, Plant and Equipment, Useful Life (Year)         5 years  
Finite-Lived Intangible Asset, Useful Life (Year)         10 years  
v3.25.0.1
Note 1 - Nature of Operations and Summary of Significant Accounting Policies - Schedule of Expected Credit Losses (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Allowance for bad debts $ 16,107 $ 37,201
Trade promotion reserves 953,061 901,917
Factoring payable (receivable) (1,534) 0
Total allowances for credit losses $ 967,634 $ 939,118
v3.25.0.1
Note 2 - Cash, Cash Equivalents, and Restricted Cash (Details Textual) - USD ($)
Dec. 31, 2024
Sep. 30, 2024
Dec. 31, 2023
Dec. 03, 2020
Cash, Uninsured Amount $ 7,621,392   $ 6,756,207  
Asset Pledged as Collateral [Member] | Credit Card Limits [Member]        
Cash Equivalents, at Carrying Value   $ 530,000    
Restricted Cash Equivalents 74,709   40,982  
Danone Manifesto Ventures, PBC [Member] | Three COVID-19 Relief Projects [Member]        
Other Commitment       $ 298,103
Restricted Cash $ 99,525   $ 99,525  
v3.25.0.1
Note 2 - Cash, Cash Equivalents, and Restricted Cash - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Cash and cash equivalents $ 8,339,918 $ 7,566,299
Restricted cash 174,234 140,507
Total cash, cash equivalents, and restricted cash $ 8,514,152 $ 7,706,806
v3.25.0.1
Note 3 - Inventory (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Inventory Write-down $ 599,902 $ 1,273,171
Prepaid Inventory $ 871,406 $ 449,242
v3.25.0.1
Note 3 - Inventory - Components of Inventory (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Raw materials and packaging $ 3,049,399 $ 2,180,294
Finished goods 2,926,277 4,142,265
Total Inventory 5,975,676 6,322,559
Total inventory reserves 425,792 1,029,657
Turnover, On Hand, and Expiration Valuation Estimate [Member]    
Total inventory reserves 132,557 385,069
Discontinued Product [Member]    
Total inventory reserves 293,235 338,312
Quality Quarantine [Member]    
Total inventory reserves $ 0 $ 306,276
v3.25.0.1
Note 4 - Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Prepaid expenses $ 568,549 $ 532,131
Prepaid inventory 871,406 449,242
Deposits 222,483 238,719
Other current assets 51,451 65,472
Prepaid expenses and other current assets $ 1,713,889 $ 1,285,564
v3.25.0.1
Note 5 - Property and Equipment, Net (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Depreciation $ 81,163 $ 99,289  
Production Equipment [Member]      
Asset, Held-for-Sale, Not Part of Disposal Group     $ 800,000
v3.25.0.1
Note 5 - Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Gross carrying amount $ 220,346 $ 230,517
Accumulated depreciation (161,899) (107,922)
Property and equipment, net 58,447 122,595
Factory and Office Equipment [Member]    
Gross carrying amount 199,085 184,241
Accumulated depreciation (155,437) (85,093)
Property and equipment, net 43,648 99,148
Leasehold Improvements [Member]    
Gross carrying amount 21,261 46,276
Accumulated depreciation (6,462) (22,829)
Property and equipment, net $ 14,799 $ 23,447
v3.25.0.1
Note 6 - Intangible Assets (Details Textual) - USD ($)
 12 Months Ended
May 26, 2020
Nov. 19, 2018
Dec. 31, 2024
Dec. 31, 2023
Amortization of Intangible Assets     $ 189,108 $ 206,887
License Agreement Terms [Member] | Laird Hamilton [Member]        
Indefinite-Lived Intangible Assets (Excluding Goodwill)     $ 132,000 132,000
Stock Issued During Period, Shares, Issued for Services (in shares)     660,000  
License Agreement Terms [Member] | Gabrielle Reece [Member]        
Indefinite-Lived Intangible Assets (Excluding Goodwill)     $ 100 $ 100
License Agreement Terms [Member] | Laird Hamilton and Gabrielle Riece [Member]        
Term of License Agreement (Year)   100 years    
Additional Term of License Agreement (Year) 10 years      
Weighted Average [Member]        
Finite-Lived Intangible Asset, Useful Life (Year)     6 years 2 months 12 days  
Minimum [Member]        
Finite-Lived Intangible Asset, Useful Life (Year)     3 years  
Maximum [Member]        
Finite-Lived Intangible Asset, Useful Life (Year)     10 years  
v3.25.0.1
Note 6 - Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Gross carrying amount $ 1,432,535 $ 1,432,535
Accumulated amortization (536,412) (347,304)
Net carrying amount 896,123 1,085,231
Total gross intangible assets 1,564,635 1,564,635
Total intangible assets 1,028,223 1,217,331
Licensing Agreements [Member]    
Licensing agreements (indefinite) 132,100 132,100
Trade Names [Member]    
Gross carrying amount 890,827 890,827
Accumulated amortization (213,798) (106,899)
Net carrying amount 677,029 783,928
Recipes [Member]    
Gross carrying amount 330,000 330,000
Accumulated amortization (121,000) (88,000)
Net carrying amount 209,000 242,000
Social Media Agreement [Member]    
Gross carrying amount 80,000 80,000
Accumulated amortization (80,000) (71,111)
Net carrying amount 0 8,889
Computer Software, Intangible Asset [Member]    
Gross carrying amount 131,708 131,708
Accumulated amortization (121,614) (81,294)
Net carrying amount $ 10,094 $ 50,414
v3.25.0.1
Note 6 - Intangible Assets - Schedule of Intangible Assets (Details) (Parentheticals)
Dec. 31, 2024
Trade Names [Member]  
Finite useful life (Year) 10 years
Recipes [Member]  
Finite useful life (Year) 10 years
Social Media Agreement [Member]  
Finite useful life (Year) 3 years
Computer Software, Intangible Asset [Member]  
Finite useful life (Year) 3 years
v3.25.0.1
Note 6 - Intangible Assets - Schedule of Future Amortization Expense (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
2025 $ 149,994  
2026 139,899  
2027 139,899  
2028 139,899  
2029 139,899  
Thereafter 186,533  
Finite-Lived Intangible Assets, Net $ 896,123 $ 1,085,231
v3.25.0.1
Note 7 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Accrued compensation and benefits $ 1,993,008 $ 1,166,321
Accrued accounts payable 1,082,789 677,492
Other accrued expenses 567,201 742,530
Accrued expenses $ 3,642,998 $ 2,586,343
v3.25.0.1
Note 8 - Leases (Details Textual)
 3 Months Ended 12 Months Ended
Oct. 01, 2021
May 03, 2021
Jul. 01, 2019
Mar. 01, 2018
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Jan. 31, 2023
USD ($)
Jan. 01, 2023
ft²
Operating Lease, Cancellation Payment             $ 1,550,000  
Operating Lease, Payment of Cancellation Fee         $ 1,050,000 $ 500,000    
Commericial Lease with RII Lundgren Mill, LLC [Member]                
Operating Lease, Term (Year)       10 years        
Second Commercial Lease with RII Lundgren Mill, LLC [Member]                
Operating Lease, Term (Year)     10 years          
Third Commercial Lease with RII Lundgren Mill, LLC [Member]                
Operating Lease, Term (Year) 10 years              
Picky Bars, LLC Lease [Member]                
Operating Lease, Term (Year)   62 months            
Somatic Experiencing Trauma Institute Sublease [Member]                
Area of Real Estate Property (Square Foot) | ft²               5,257
v3.25.0.1
Note 8 - Leases - Lease Costs (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating lease cost $ 142,321 $ 152,338
Variable lease cost 19,504 29,576
Operating lease expense 161,825 181,914
Short-term lease rent expense 317,792 337,584
Total rent expense 479,617 519,498
Operating cash flows - operating leases 128,426 126,434
Right-of-use assets obtained in exchange for operating lease liabilities $ 0 $ 344,382
Weighted-average remaining lease term – operating leases (in years) (Year) 2 years 6 months 3 years
Weighted-average discount rate – operating leases 7.50% 6.71%
v3.25.0.1
Note 8 - Leases - Future Minimum Lease Payments (Details)
Dec. 31, 2024
USD ($)
2025 $ 105,966
2026 109,145
2027 56,210
Total 271,321
Less imputed interest (24,891)
Operating lease liabilities $ 246,430
v3.25.0.1
Note 8 - Leases - Lease Income (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating lease income $ 46,849 $ 56,219
Variable lease income 17,722 21,270
Total rental income $ 64,571 $ 77,489
v3.25.0.1
Note 9 - Income Taxes (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount $ 600,000 $ 1,800,000
State and Local Jurisdiction [Member]    
Taxes Payable, Current $ 9,306 $ 7,373
v3.25.0.1
Note 9 - Income Taxes - Income Tax Reconciliation (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Income tax benefit at statutory rates $ 333,560 $ 2,131,064
Valuation allowance for deferred tax assets (424,218) (1,439,931)
Stock-based compensation 367,824 (525,278)
Fixed assets (187,429) 0
Other income (expense), net (150,061) (181,050)
Reported income tax expense $ (60,324) $ (15,195)
Effective tax rate: 3.40% 0.10%
v3.25.0.1
Note 9 - Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Net operating loss carryforwards $ 21,368,607 $ 20,088,873
Intangible assets 2,115,891 2,258,079
Property and equipment 618,260 1,104,854
Research and development credits 219,488 235,514
Research and development 206,718 268,414
Inventory 95,762 246,182
Accrued expenses 367,651 496,695
Right of use asset 10,873 7,366
Allowance for credit losses 94,113 64,250
Charitable contributions 34,613 40,773
Unexercised options 1,132,698 890,128
Total deferred tax assets 26,264,674 25,701,128
Valuation allowance (26,264,674) (25,701,128)
Total net deferred tax assets $ 0 $ 0
v3.25.0.1
Note 9 - Income Taxes - Schedule of Tax Carryforwards (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
NOL $ 145,553,779 $ 136,768,020
Credits (4) [1] 219,488 235,514
Other carryforwards (4) [1] 1,333,552 581,020
Total NOLs and other income tax carryforwards 147,106,819 137,584,554
Domestic Tax Jurisdiction [Member] | Pre 2017 NOLs [Member]    
NOL [2] 1,868,077 1,868,077
Domestic Tax Jurisdiction [Member] | Post 2018 NOLs [Member]    
NOL [3] 82,744,578 77,796,820
State and Local Jurisdiction [Member]    
NOL [4] $ 60,941,124 $ 57,103,123
[1] Can be carried forward for between one and five years and which begin to expire in 2025.
[2] Can be carried forward for 20 years and which begin to expire in 2036
[3] Can be carried forward indefinitely.
[4] Can be carried forward for between 15 and 20 years and which begin to expire in 2031.
v3.25.0.1
Note 10 - Stock Incentive Plan (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
May 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value $ 682,988 $ 0  
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value $ 596,943 $ 0  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate 0.00% 0.00%  
Share Price (in dollars per share) $ 7.88 $ 0.91  
Share-Based Payment Arrangement, Option [Member]      
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) 86,643    
Restricted Stock Units (RSUs) [Member]      
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) 16,699 26,877  
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested $ 1,135,692 $ 158,349  
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Intrinsic Value, Amount Per Share (in dollars per share) $ 7.88 $ 0.91  
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Fair Value, Outstanding $ 8,790,124 $ 702,415  
Market Based Stock Units [Member]      
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate 0.00%    
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested $ 1,276,000 0  
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Intrinsic Value, Amount Per Share (in dollars per share) $ 0    
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Fair Value, Outstanding   $ 565,396  
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) 0    
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Market Value (in dollars per share)   $ 0.91  
The 2020 Omnibus Incentive Plan [Member]      
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)     1,536,742
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) 832,032    
Common Stock, Capital Shares Reserved for Future Issuance (in shares) 2,460,090    
Employee Stock Purchase Plan [Member]      
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate 0.00%    
v3.25.0.1
Note 10 - Stock Incentive Plan - Stock Option Activity (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Balance, options (in shares) 1,234,778 921,657  
Balance, options, weighted average exercise price (in dollars per share) $ 4.52 $ 6.86  
Balance, options, weighted average contractual term (Year) 7 years 9 months 7 days 7 years 10 months 28 days 8 years 3 days
Balance, options, aggregate intrinsic value $ 8,770,109 $ 30,000 $ 0
Granted, options (in shares) 799,188 700,000  
Granted, options, weighted average exercise price (in dollars per share) $ 0.73 $ 0.89  
Exercised/released, options (in shares) (300,250) [1] 0  
Exercised/released, options, weighted average exercise price (in dollars per share) $ 1.12 $ 0  
Cancelled/forfeited, options (in shares) (103,288) (386,879)  
Cancelled/forfeited, options, weighted average exercise price (in dollars per share) $ 1.61 $ 3.54  
Balance, options (in shares) 1,630,428 1,234,778 921,657
Balance, options, weighted average exercise price (in dollars per share) $ 3.47 $ 4.52 $ 6.86
Exercisable, options (in shares) 516,040 670,624  
Exercisable, options, weighted average exercise price (in dollars per share) $ 7.02 $ 4.8  
Exercisable, options, weighted average contractual term (Year) 5 years 9 months 21 days 7 years 3 months 10 days  
Exercisable, options, aggregate intrinsic value $ 1,573,308 $ 0  
[1] Includes 86,643 shares of common stock which were withheld to cover option costs.
v3.25.0.1
Note 10 - Stock Incentive Plan - Schedule of Stock Option Valuation Assumptions (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Weighted-average expected volatility 61.92% 59.43%
Weighted-average expected term (years) (Year) 6 years 6 months 5 years 8 months 15 days
Weighted-average expected risk-free interest rate 4.27% 3.87%
Dividend yield 0.00% 0.00%
Weighted-average fair value of options granted (in dollars per share) $ 0.46 $ 0.57
v3.25.0.1
Note 10 - Stock Incentive Plan - RSU Activities (Details) - Restricted Stock Units (RSUs) [Member] - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Balance, other than options (in shares) 771,885 504,420  
Balance, other than options, weighted average grant date fair value (in dollars per share) $ 1.77 $ 4.22  
Balance, other than options, weighted average vesting term (Year) 3 years 3 months 3 days 2 years 2 months 4 days 2 years 11 months 8 days
Balance, other than options, aggregate fair value $ 4,294,241 $ 1,480,161 $ 2,127,734
Granted, other than options (in shares) 828,650 745,000  
Granted, other than options, weighted average grant date fair value (in dollars per share) $ 4.43 $ 0.81  
Exercised/released, other than options (in shares) (422,471) [1] (200,085) [2]  
Exercised/released, other than options, weighted average grant date fair value (in dollars per share) $ 1.55 [1] $ 3.86 [2]  
Cancelled/forfeited, other than options (in shares) (62,566) (277,450)  
Cancelled/forfeited, other than options, weighted average grant date fair value (in dollars per share) $ 1.27 $ 2.14  
Balance, other than options (in shares) 1,115,498 771,885 504,420
Balance, other than options, weighted average grant date fair value (in dollars per share) $ 3.85 $ 1.77 $ 4.22
[1] Includes 16,699 shares of common stock which were withheld to cover payroll taxes.
[2] Includes 26,877 shares of common stock which were withheld to cover payroll taxes.
v3.25.0.1
Note 10 - Stock Incentive Plan - MSU Activities (Details) - Market Based Stock Units [Member] - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Balance, other than options (in shares) 621,314 31,083  
Balance, other than options, weighted average grant date fair value (in dollars per share) $ 1.57 $ 43.53  
Balance, other than options, weighted average vesting term (Year)   7 months 6 days 7 months 6 days
Balance, other than options, aggregate fair value   $ 977,558 $ 1,353,043
Granted, other than options (in shares) 0 600,000  
Exercised/released, other than options (in shares) (300,000)    
Exercised/released, other than options, weighted average grant date fair value (in dollars per share) $ 0.14    
Cancelled/forfeited, other than options (in shares) (321,314) (9,769)  
Cancelled/forfeited, other than options, weighted average grant date fair value (in dollars per share) $ 2.91 $ 43.53  
Balance, other than options (in shares) 0 621,314 31,083
Balance, other than options, weighted average grant date fair value (in dollars per share) $ 0 $ 1.57 $ 43.53
Granted, other than options (in shares) 0 600,000  
Granted, other than options, weighted average grant date fair value (in dollars per share)   $ 0.08  
Cancelled/forfeited, other than options (in shares) (321,314) (9,769)  
v3.25.0.1
Note 10 - Stock Incentive Plan - Schedule of Stock Based Compensation (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Total stock-based compensation $ 1,637,788 $ 1,092,146
Unrecognized compensation cost $ 4,084,270 $ 1,788,566
Vesting period (Year) 3 years 5 months 1 day 2 years 2 months 15 days
Share-Based Payment Arrangement, Option [Member]    
Total stock-based compensation $ 345,129 $ 456,902
Unrecognized compensation cost $ 619,880 $ 654,313
Vesting period (Year) 2 years 8 months 23 days 2 years 4 months 9 days
Restricted Stock Units (RSUs) [Member]    
Total stock-based compensation $ 1,264,920 $ 658,717
Unrecognized compensation cost $ 3,464,390 $ 1,099,972
Vesting period (Year) 3 years 6 months 18 days 2 years 2 months 1 day
Market Based Stock Units [Member]    
Total stock-based compensation $ 27,739 $ (23,473)
Unrecognized compensation cost 0 $ 34,281
Vesting period (Year)   6 months 25 days
Award With Cost to be Recognized in Cost of Goods Sold [Member]    
Total stock-based compensation 3,650 $ 503
Unrecognized compensation cost $ 9,648 $ 2,976
Vesting period (Year) 3 years 10 months 17 days 1 year 7 months 13 days
Award With Cost to be Recognized in General and Administrative [Member]    
Total stock-based compensation $ 1,494,315 $ 849,784
Unrecognized compensation cost $ 3,807,481 $ 1,666,980
Vesting period (Year) 3 years 5 months 26 days 2 years 3 months 14 days
Award With Cost to be Recognized in Sales and Marketing [Member]    
Total stock-based compensation $ 139,823 $ 241,859
Unrecognized compensation cost $ 267,141 $ 118,610
Vesting period (Year) 4 years 4 months 28 days 11 months 26 days
v3.25.0.1
Note 11 - Earnings Per Share - Earnings Per Share (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Net loss $ (1,820,161) $ (10,163,117)
Weighted average shares outstanding - basic and diluted (in shares) 9,946,733 9,297,226
Net loss per share, basic and diluted (in dollars per share) $ (0.18) $ (1.09)
Common stock options, restricted stock awards, and market-based stock awards excluded due to anti-dilutive effect (in shares) 2,745,926 2,627,977
v3.25.0.1
Note 12 - Concentrations - Schedule of Concentration Risk (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Accounts Payable [Member] | Vendors Concentration Risk Member [Member] | Vendor A [Member]    
Concentration risk 14.00% 23.00%
Accounts Payable [Member] | Vendors Concentration Risk Member [Member] | Vendor B [Member]    
Concentration risk 18.00% 14.00%
Accounts Payable [Member] | Vendors Concentration Risk Member [Member] | Vendor C [Member]    
Concentration risk   10.00%
Accounts Payable [Member] | Vendors Concentration Risk Member [Member] | Vendor D [Member]    
Concentration risk 10.00%  
Accounts Payable [Member] | Vendors Concentration Risk Member [Member] | Vendor A, B, C, D, E [Member]    
Concentration risk 42.00% 47.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer A [Member]    
Concentration risk 43.00% 46.00%
Accounts receivable, net $ 927,465 $ 660,015
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer B [Member]    
Concentration risk 20.00% 21.00%
Accounts receivable, net $ 436,026 $ 310,396
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer C [Member]    
Concentration risk 14.00%  
Accounts receivable, net $ 297,608 $ 10,330
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customers A,B, and C [Member]    
Concentration risk 77.00% 67.00%
Accounts receivable, net $ 1,661,099 $ 980,741
Cost of Goods and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Supplier A [Member]    
Concentration risk 10.00%  
Cost of Goods and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Supplier B [Member]    
Concentration risk 15.00%  
Cost of Goods and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Supplier C [Member]    
Concentration risk   15.00%
Cost of Goods and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Supplier D [Member]    
Concentration risk 12.00%  
Cost of Goods and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Supplier E [Member]    
Concentration risk   23.00%
Cost of Goods and Service Benchmark [Member] | Supplier Concentration Risk [Member] | Supplier A, B, C, D, E, and F [Member]    
Concentration risk 37.00% 38.00%
Cost of Goods and Service Benchmark [Member] | Geographic Concentration Risk [Member] | Country A [Member]    
Concentration risk 12.00%  
Cost of Goods and Service Benchmark [Member] | Geographic Concentration Risk [Member] | Country B [Member]    
Concentration risk 12.00%  
Cost of Goods and Service Benchmark [Member] | Geographic Concentration Risk [Member] | Country C [Member]    
Concentration risk 16.00%  
Cost of Goods and Service Benchmark [Member] | Geographic Concentration Risk [Member] | Country D [Member]    
Concentration risk 10.00%  
Cost of Goods and Service Benchmark [Member] | Geographic Concentration Risk [Member] | Country E [Member]    
Concentration risk   17.00%
Cost of Goods and Service Benchmark [Member] | Geographic Concentration Risk [Member] | Specific Regions in Excess of 10% [Member]    
Concentration risk 50.00% 17.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer A [Member]    
Concentration risk 15.00% 17.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer B [Member]    
Concentration risk 16.00% 15.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer C [Member]    
Concentration risk 11.00% 12.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customers A,B, and C [Member]    
Concentration risk 42.00% 44.00%
v3.25.0.1
Note 13 - Related Party (Details Textual) - Gabby Reece [Member] - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Advertising Expense $ 251,061 $ 285,172
Accounts Payable, Current $ 34,947 $ 2,688
v3.25.0.1
Note 14 - Revenue Recognition (Details Textual)
$ in Millions
May 07, 2024
USD ($)
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] Prime Rate [Member]
Alterna Capital Solutions (ACS) [Member]  
Line of Credit Facility, Maximum Borrowing Capacity $ 2
Factoring Agreement, Upfront Purchase Price, Percentage 70.00%
Debt Instrument, Basis Spread on Variable Rate 1.50%
Factoring Agreement, Collateral Monitoring Fee, Monthly, Percentage 0.05%
Debt Instrument, Term (Month) 12 months
Alterna Capital Solutions (ACS) [Member] | First Twelve Months [Member]  
Factoring Agreement, Early Termination Fee, Percentage 2.00%
Alterna Capital Solutions (ACS) [Member] | After Twelve Months [Member]  
Factoring Agreement, Early Termination Fee, Percentage 1.00%
Alterna Capital Solutions (ACS) [Member] | Minimum [Member]  
Factoring Agreement, Usage Fees, Annual, Percentage 10.00%
v3.25.0.1
Note 14 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenue $ 43,295,137 $ 34,224,198
Percentage of revenue 100.00% 100.00%
Coffee Creamer [Member]    
Revenue $ 23,088,363 $ 20,425,029
Percentage of revenue 53.00% 60.00%
Coffee Tea and Hot Chocolate Products [Member]    
Revenue $ 11,184,525 $ 7,968,956
Percentage of revenue 26.00% 23.00%
Hydration and Beverage Enhancing Supplements [Member]    
Revenue $ 9,207,964 $ 5,320,039
Percentage of revenue 21.00% 16.00%
Harvest Snacks and Other Food Items [Member]    
Revenue $ 6,215,989 $ 6,883,980
Percentage of revenue 14.00% 20.00%
Other [Member]    
Revenue $ 172,788 $ 435,388
Percentage of revenue 0.00% 1.00%
Gross Sales [Member]    
Revenue $ 49,869,629 $ 41,033,392
Percentage of revenue 114.00% 120.00%
Shipping Income [Member]    
Revenue $ 506,732 $ 899,921
Percentage of revenue 1.00% 3.00%
Discounts and Promotional Activity [Member]    
Revenue $ (7,081,224) $ (7,709,115)
Percentage of revenue (15.00%) (23.00%)
v3.25.0.1
Note 14 - Revenue Recognition - Disaggregation of Revenue Based on Channels (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenue from Contract with Customer, Excluding Assessed Tax $ 43,295,137 $ 34,224,198
Percentage of revenue 100.00% 100.00%
Online [Member]    
Revenue from Contract with Customer, Excluding Assessed Tax $ 25,642,366 $ 19,443,885
Percentage of revenue 59.00% 57.00%
Wholesale [Member]    
Revenue from Contract with Customer, Excluding Assessed Tax $ 17,652,771 $ 14,780,313
Percentage of revenue 41.00% 43.00%
v3.25.0.1
Note 14 - Revenue Recognition - Summary of Receivables (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Jan. 01, 2023
Accounts receivable, net $ 1,762,911 $ 1,022,372 $ 1,494,469
Contract liabilities $ (348,869) $ (427,974) $ (729,667)
v3.25.0.1
Note 15 - Reportable Segments (Details Textual)
 12 Months Ended
Dec. 31, 2024
Number of Reportable Segments 1
Number of Operating Segments 1