v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net income (loss) $ (9,040,198) $ 215,695,562
Adjustment to reconcile net income (loss) to cash used in operating activities:    
Depreciation and amortization 9,837 6,517
Deferred tax expense (benefit) (18,281,002) 81,256,047
Amortization of operating lease right-of-use assets 31,900 29,282
Change in fair value of Earnout Shares liability (18,328,000) (29,197,000)
Change in fair value of True Up Shares liability (106,106) 1,634,000
Change in fair value of Subject Vesting Shares liability (6,639,000) (3,973,000)
Change in fair value of Equity Line Obligation liability 240,134 0
Change in accrued royalties (250,000) 0
Gain on contribution to AirJoule, LLC 0 (333,500,000)
Equity loss from investment in AirJoule, LLC 39,271,360 5,321,367
Non-cash transaction costs in connection with business combination 0 53,721,000
Gain on settlement of legal fees 0 (2,207,445)
Stock-based compensation 4,867,357 1,323,936
Changes in operating assets and liabilities:    
Due from related party 2,102,623 (2,727,578)
Due to related party 0 (1,440,000)
Prepaid expenses and other assets 116,220 (166,888)
Operating lease liabilities (30,227) (22,054)
Accounts payable 19,131 (2,459,898)
Accrued expenses, accrued transaction costs and other liabilities 381,426 (7,555,294)
Net cash used in operating activities (5,634,545) (24,261,446)
Cash flows from investing activities    
Purchases of property and equipment (18,008) (19,058)
Investment in AirJoule, LLC (17,750,000) (10,000,000)
Net cash used in investing activities (17,768,008) (10,019,058)
Cash flows from financing activities    
Proceeds from the exercise of warrants 0 45,760
Proceeds from the exercise of options and purchases pursuant to employee stock purchase plan 140,887 130,696
Deferred offering costs (103,508) 0
Proceeds from the PIPE offering, net 14,242,268 0
Proceeds from the issuance of common stock 0 61,750,000
Proceeds from the issuance of common stock pursuant to Equity Line Purchase Agreement 2,949,613 0
Net cash provided by financing activities 17,229,260 61,926,456
Net increase (decrease) in cash, cash equivalents and restricted cash (6,173,293) 27,645,952
Cash, cash equivalents and restricted cash, beginning of period 28,021,748 375,796
Cash, cash equivalents and restricted cash, end of the period 21,848,455 28,021,748
Supplemental non-cash investing and financing activities:    
Issuance of True Up Shares 2,082,894 0
Deferred offering costs included in accrued expenses and other current liabilities 128,820 0
Initial recognition of True Up Shares liability 0 555,000
Initial recognition of Subject Vesting Shares liability 0 11,792,000
Initial recognition of ROU asset and operating lease liability 0 172,649
Liabilities combined in recapitalization, net 0 8,680,477
Contribution to AirJoule, LLC of license to technology 0 333,500,000
Supplemental cash flow information:    
Taxes paid $ 0 $ 0