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 $ (11,231) $ (24,515)
Reconciliation of net loss to net cash used in operating activities:    
Depreciation and amortization (13) 9
Intangible asset impairment 0 9,703
Common stock issued for services (200) (336)
Stock-based compensation expense 482 71
Unrealized foreign exchange gain 1,238 (126)
Non-cash interest expense 185 230
Change in fair value of warrant derivative liabilities (1) (2,677)
Deferred income taxes 0 (446)
Changes in operating assets and liabilities:    
Other current assets (150) 94
Unearned revenue 0 207
Tax credit receivable (96) 45
Prepaid expenses (1,603) 274
Accounts payable (1,139) (4,108)
Accrued liabilities (2,699) 3,536
Income taxes payable 7 15
Net cash used in operating activities (14,820) (17,352)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (8) (298)
Net cash used in investing activities (8) (298)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from 3i promissory notes 0 1,340
Repayment of 3i debt 0 (1,340)
Proceeds from ATM sales of common stock, net of issuance costs 11,143 37,354
Net proceeds from common stock and pre-funded warrant issuance 2,695 0
Proceeds from issuance of Convertible Redeemable Series A Preferred Stock 0 2,938
Redemption of Convertible Redeemable Series A Preferred Stock 0 (3,500)
Common stock repurchase (3,190) 0
Net cash provided by financing activities 10,648 36,792
Net increase (decrease) in cash (4,180) 19,142
Cash, beginning of year 19,533 166
Cash, end of year 14,687 19,533
Effect of exchange rate changes on cash (667) 225
Supplemental disclosure of cash flow information    
Cash paid for interest 0 423
Cash received for interest 801 503
Stock issued in conjunction with consulting agreement 200 90
Conversion of Series A Redeemable Preferred Stock to common stock 0 1,819
3i Exchange Warrants [Member]    
Supplemental disclosure of cash flow information    
Issuance of common shares on conversion of 3i Exchange Warrants 0 405
Series A Preferred Stock [Member]    
Supplemental disclosure of cash flow information    
Deemed dividends on Preferred Stock 0 299
Gain on extinguishment of Series A Preferred Stock 0 222
Redeemable Series A Convertible Preferred Stock [Member]    
Supplemental disclosure of cash flow information    
Deemed dividends on Preferred Stock $ 0 $ 562