v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 383,386 $ 101,904
Accounts receivables, net 341 2,294
Deferred offering costs 111,415 111,415
Other current assets 89,282 86,433
Total current assets 584,424 302,046
Non-current assets    
Property and equipment, net 54,386 59,179
Intangible asset - shell company 314,191 314,191
Goods and service tax and other credits receivable 627,430 646,758
Right-of-use of asset, net 45,388 59,387
Total non-current assets 1,041,395 1,079,515
Total assets 1,625,819 1,381,561
Current liabilities    
Accounts payable and accrued expenses 869,282 965,607
Due to Affiliates 170,098 129,346
Operating lease liability - current portion 30,353 28,024
Salary and post-employment benefits payable 986,353 919,440
Other current liability 88,130 107,937
Convertible debt 4,034,381 3,589,410
Promissory notes – ReShape 424,247
Total current liabilities 6,602,844 5,739,764
Non-current liabilities    
Operating lease liability - net of current portion 16,728 32,830
Total non-current liabilities 16,728 32,830
Total liabilities 6,619,572 5,772,594
Commitments and contingencies (Note 13)
Stockholders’ deficit    
Common stock, 20,000,000 shares authorized – par value $0.001 per share, 386 shares issued and outstanding at June 30, 2025 and December 31, 2024 1 1
Preferred stock, 16,000,000 shares authorized – par value $0.001 per share, 3,076 shares issued and outstanding as of June 30, 2025 and December 31, 2024 3 3
Additional paid in capital 51,084,877 51,084,877
Accumulated deficit (56,025,476) (55,422,744)
Accumulated other comprehensive loss (53,158) (53,170)
Total stockholders’ deficit (4,993,753) (4,391,033)
Total liabilities and stockholders’ deficit $ 1,625,819 $ 1,381,561