v3.25.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Revenue $ 0 $ 49,278 $ 0 $ 142,827 $ 152,127 $ 2,085,532
Cost of revenue         2,205,476 5,695,433
Cost of revenue (4,538) 733,726 231,179 1,590,682    
Gross margin 4,538 (684,448) (231,179) (1,447,855) (2,053,349) (3,609,901)
Operating expenses:            
Research and development 0 683,381 184,563 1,449,876 1,821,816 5,462,680
Selling and marketing         468,074 1,539,690
Selling and marketing 526,996 (73,070) 1,070,333 272,520    
General and administrative 4,095,229 1,940,448 6,174,034 4,593,243 8,807,651 11,117,525
Total operating expenses 4,622,225 2,550,759 7,428,930 6,315,639 11,097,541 18,119,895
Loss from operations (4,617,687) (3,235,207) (7,660,109) (7,763,494) (13,150,890) (21,729,796)
Non-operating income (loss):            
Interest income 19,194 4,741 26,579 16,481 17,166 117,372
Interest expense (160,952) (1,115,953) (354,432) (2,307,815) (3,346,896) (864,535)
Change in fair value of warrant liabilities (16,986) 1,783,201 110,314 1,786,512 2,109,904 1,766,513
Change in fair value of derivative liability 0 0 37,900 0 141,100 0
Change in fair value of convertible note receivable (11,400) 0 (11,400) 0    
Change in fair value of notes payable (1,422,895) 0 (1,166,373) 0    
Change in fair value of SEPA liability (260,507) 0 (260,507) 0    
Loss on issuance of notes payable (766,296) 0 (1,474,096) 0    
Loss on issuance of SEPA (2,582,724) 0 (2,582,724) 0    
Loss on extinguishment of debt (1,375,819) (10,293,834) (6,873,335) (10,293,834) (20,504,307) 0
SEPA fees and issuance costs (1,075,000) 0 (1,075,000) 0    
Gain on sale of intellectual property intangible assets 0 0 8,961,872 0    
Loss on impairment of inventories, property and equipment and operating lease right-of-use asset 0 0 (6,064,823) 0    
Interest expense recognized on remeasurement of preferred stock liability 0 0 (10,398,050) 0    
Other income (loss), net 46,097 218,169 (52,216) 218,169 218,169 0
Loss before provision for income taxes (12,224,975) (12,638,883) (28,836,400) (18,343,981) (34,515,754) (20,710,446)
Provision for income taxes 0 0 0 0 0 0
Net loss (12,224,975) (12,638,883) (28,836,400) (18,343,981) $ (34,515,754) $ (20,710,446)
Reclassification of convertible preferred stock from mezzanine equity to liability 0 0 10,398,050 0    
Deemed dividend in connection with modification of pre-funded warrants 0 0 (3,076,380) 0    
Net loss available to common shareholders $ (12,224,975) $ (12,638,883) $ (21,514,730) $ (18,343,981)    
Net loss per common share, basic $ (0.18) $ (7.57) $ (0.43) $ (14.15) $ (5.91) [1] $ (0.63) [1]
Net loss per common share, diluted $ (0.18) $ (7.57) $ (0.43) $ (14.15) $ (5.91) [1] $ (0.63) [1]
Weighted-average common shares used to compute net loss per common share, basic 66,284,524 1,670,052 49,771,075 1,296,478 5,837,286 [1] 33,064,250 [1]
Weighted-average common shares used to compute net loss per common share, diluted 66,284,524 1,670,052 49,771,075 1,296,478 5,837,286 [1] 33,064,250 [1]
[1] Periods presented have been adjusted to reflect the 1-for-40 reverse stock split on July 23, 2024. See Note 2 – Summary of Significant Accounting Policies for additional information.