v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (14,135) $ (10,515)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 16 13
Impairment of property, plant and equipment 3,936 0
Share-based compensation expense 2,185 1,354
Amortization of right-of-use assets 352 309
Changes in operating assets and liabilities    
Prepaid expenses 294 (431)
Accounts payable (218) 144
Accrued liabilities (992) 540
Operating lease liabilities (355) (297)
Other changes in operating assets and liabilities 28 3
Net cash used in operating activities (8,889) (8,880)
Cash flows from investing activities:    
Additions to property, plant and equipment (7,685) (2,550)
Reimbursements of development costs in accordance with the JDA 5,299 1,695
Net cash used in investing activities (2,386) (855)
Cash flows from financing activities:    
Issuance of Class A common stock to Cottonmouth 50,000 0
Payment of equity issuance costs (554) 0
Net cash provided by financing activities 49,446 0
Net change in cash, cash equivalents and restricted cash 38,171 (9,735)
Cash, cash equivalents and restricted cash, beginning of year 19,144 28,879
Cash, cash equivalents and restricted cash, end of period 57,315 19,144
Supplemental cash flows:    
Capital expenditures in accounts payable and accrued liabilities (at period end) 459 406
Accounts receivable for reimbursement of capital expenditures (at period end) 141 214
Cash paid for income taxes $ 192 $ 46