v3.25.2
Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting

Note 8 – Segment Reporting

 

The company manages our business activities on a consolidated basis and operates as a single operating segment: Biotechnology. The accounting policies of the Biotechnology segment are the same as those described in Note 1 – Summary of Significant Accounting Policies.

 

Our Chief Operating Decision Maker (“CODM”) is our President and Chief Executive Officer, Dr. Chen. The CODM uses net loss, as reported on our condensed consolidated statement of operations, in evaluating the performance of the biotechnology segment and determining how to allocate resources of the Company as a whole, including investing in our research and development programs and acquisition/licensing strategy. The CODM does not review assets in evaluating the results of the biotechnology segment, and therefore, such information is not presented. The following supplemental information breaks down the research and development costs for the three and six months ended June 30, 2025 and 2024, respectively.

 

               
   

For the
Six Months Ended
June 30,

  
    2025     2024  
Revenues   $ 39,990     $ 63,000  
                 
Less: Significant and other segment expenses:                
NEO100     688,628       456,721  
NEO100-02     201,787       123,431  
NEO212     455,629       359,696  
Pediatric     99,010       68,988  
Laboratory     192,377       -  
Other     38,123       165  
Total research and development expense     1,675,554       1,009,001  
                 
Advisory fee     11,737,806       -  
Legal and accounting     1,477,909       1,155,338  
Employee Expenses     334,160       145,724  
Debt issuance and deferred offering costs amortization     360,200       111,793  
Investor relations     771,073       6,663  
Share based compensation     20,923,850       -  
Other general and administrative expense     728,514       466,084  
Interest expense - related parties’ loans     357,672       2,559,456  
Loss on extinguishment of Bridge loan - related party     -       2,069,923  
Interest income     (80,424 )     -  
Other Income     (240,138 )     -  
Net loss   $ (38,006,186 )   $ (7,460,982 )

 

    For the
Three Months Ended
June 30,		  
    2025     2024  
Revenues   $ -     $ 20,000  
                 
Less: Significant and other segment expenses:                
NEO100     109,166       98,399  
NEO100-02     93,326       96,367  
NEO212     279,074       197,962  
Pediatric     50,178       1,591  
Laboratory     107,465       -  
Other     38,123       165  
Total research and development expense     677,332       394,484  
                 
Advisory fee     -       -  
Legal and accounting     520,364       590,984  
Employee Expenses     163,887       -  
Debt issuance and deferred offering costs amortization     192,249       111,793  
Investor relations     226,766       -  
Share based compensation     3,526,076       -  
Other general and administrative expense     593,609       205,860  
Interest expense - related parties’ loans     48,750       1,171,963  
Interest income     (28,725 )     2,069,923  
Other Income     (240,138 )     -  
Net loss   $ (5,680,170 )   $ (4,522,006 )