v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating Activities:    
Net loss $ (29,438,613) $ (21,698,363)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,441,875 3,020,573
Depreciation 245,747 32,941
Amortization of right of use asset 118,754 82,447
Changes in operating assets and liabilities:    
Tax receivable 2,059,507 (971,527)
Prepaid expenses and other current assets (286,729) 554,770
Other assets (20,418)
Accounts payable and accrued expenses 1,027,161 4,401,623
Operating lease liability (98,006) 2,852
Net cash used in operating activities (23,930,304) (14,595,102)
Investing Activities:    
Purchase of property and equipment (732,925) (1,177,680)
Purchase of short-term investments (6,480,860)
Net cash used in investing activities (7,213,785) (1,177,680)
Financing Activities:    
Payments of deferred offering costs (136,999)
Proceeds from exercise of stock options 6,342 2,489
Proceeds from exercise of stock warrants 124,800
Proceeds from sale of common stock, net of offering costs 107,392,716 15,946,078
Net cash provided by financing activities 107,386,859 15,948,567
Effect of foreign currency on cash 3,842 (3,622)
Net change in cash and cash equivalents 76,246,612 172,163
Cash and cash equivalents - beginning of year 17,681,954 17,509,791
Cash and cash equivalents - end of year 93,928,566 17,681,954
Supplemental Disclosures of Cash Flow Information:    
Interest paid
Income taxes paid
Supplemental Disclosures of Noncash Financing Information:    
Establishment of right of use asset and liabilities 96,200 1,071,918
Purchases of property and equipment included in accounts payable and accrued liabilities 294,294 545,229
Deferred offering costs charged against proceeds from sale of common stock 43,369 87,229
Shares issues in subsidiary absorption 99
Shares issued for vested RSUs $ 26