v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (15,137,515) $ (1,877,464)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 75,924 184,775
Stock-based compensation 319,926 38,984
Warrant modification expense 0 200,513
Loss on issuance of the Lynrock Lake Term Loan 6,640,384 0
Debt extinguishment loss 2,033,666 0
Debt modification expense 90,000 0
Provision for credit losses 0 1,290
Fair value of common stock issued in exchange for services and in connection with non-redemption agreements 0 3,718,349
Loss on issuance of common stock in connection with a subscription agreement 0 206,000
Non-cash interest 547,820 1,200,670
Non-cash operating lease income (18,725) (11,876)
Change in fair value of warrant liability 3,501,079 (190,819)
Change in fair value of derivative liability (101,300) (4,712,800)
Change in fair value of earnout liability (160,000) (2,920,000)
Changes in operating assets and liabilities:    
Accounts receivable (3,584,191) (669,138)
Inventory (90,379) 1,352,734
Prepaid expenses and other current assets (1,226,752) (553,691)
Accounts payable 771,743 (2,280,535)
Accrued expenses and other current liabilities 938,963 51,572
Deferred revenue (15,079) (315,873)
Other liabilities 435,614 (377,772)
Net cash used in operating activities (4,978,822) (6,955,081)
Cash flows from investing activities:    
Purchases of property and equipment (46,818) (26,977)
Net cash used in investing activities (46,818) (26,977)
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 700,000 0
Proceeds from issuance of common stock pursuant to subscription agreement, net of issuance costs 0 500,000
Proceeds from long-term debt, net of issuance costs 10,000,000 10,525,000
Repayment of long-term debt (4,674,284) (65,018)
Repayment of bridge loans 0 (800,000)
Payment of deferred issuance costs (150,000) 0
Proceeds from the Merger, net of transaction costs 0 1,238,530
Net cash provided by financing activities 5,875,716 11,398,512
Net increase in cash and restricted cash and cash equivalents 850,076 4,416,454
Cash and restricted cash and cash equivalents, beginning of year 1,192,104 184,686
Cash and restricted cash and cash equivalents, end of year 2,042,180 4,601,140
Supplemental disclosure of cash flow information:    
Cash paid for interest 12,379 161,013
Supplemental disclosures of noncash investing and financing activities:    
Purchases of equipment included in accounts payable 0 7,613
Fair value of embedded derivatives upon issuance of convertible debt 0 5,120,900
Fair value of common stock issued with convertible debt 0 2,312,617
Transfer of equipment to inventory 0 289,214
Conversion of accrued interest into common stock 174,397 0
Extinguishment of accrued expenses in exchange for common stock 0 3,760,000
Debt issuance costs included in accrued expenses 144,300 40,740
Conversion of long-term debt into common stock 182,682 3,433,388
Fair value of warrants issued in exchange for issuance of long-term debt 16,496,084 0
Unpaid issuance costs related to sale of common stock and warrants 20,759 0
Deferred issuance costs included in accrued expenses 7,685 0
Reclassification of warrant liability upon warrant modification 22,986,128 0
Deemed dividend $ 0 $ 5,185,502