Summary of selected financial information of single operating segment |
| | | | | | | | | For the Three Months Ended March 31, | | | 2025 | | 2024 | Revenue | | $ | 365,471 | | $ | — | Cost of goods sold | | | 238,592 | | | — | Operating expenses: | | | | | | | General and administrative expenses | | | 4,763,716 | | | 1,110,229 | Research and development expenses | | | 1,018,352 | | | 875,342 | Depreciation and amortization | | | 8,215 | | | 8,119 | Total operating expenses | | | 5,790,283 | | | 1,993,690 | Loss from operations | | | (5,663,404) | | | (1,993,690) | Other income (expense): | | | | | | | Change in fair value of derivative liabilities | | | (827,445) | | | (541,639) | Change in fair value of warrant liabilities | | | 223,162 | | | (13,043,192) | Change in earnout liability | | | (30,000) | | | — | Transaction costs expensed | | | (9,665,004) | | | — | Gain on settlement of forward purchase agreement | | | 1,406,669 | | | — | Interest expense | | | (723,467) | | | (2,872,951) | Other income | | | — | | | 14,019 | Gains from extinguishment of debt, net | | | 12,592,052 | | | — | Total other income (expense): | | | 2,975,967 | | | (16,443,763) | Income (loss) before income taxes | | | (2,687,437) | | | (18,437,453) | Provision for income taxes | | | — | | | — | Net income (loss) | | $ | (2,687,437) | | $ | (18,437,453) |
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