v3.26.1
Note 8 - Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2025
Notes Tables  
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]
  

Fair Value Measurements at October 1, 2024 (Issuance)

 
  

Quoted Prices in Active Markets for Identical Assets (Level 1)

  

Other Observable Inputs (Level 2)

  

Significant Unobservable Inputs (Level 3)

  

Total

 

Derivative liabilities - warrants

 $  $  $19,494,000  $19,494,000 

Total

 $  $  $19,494,000  $19,494,000 
  

Fair Value Measurements at December 31, 2024

 
  

Quoted Prices in Active Markets for Identical Assets (Level 1)

  

Other Observable Inputs (Level 2)

  

Significant Unobservable Inputs (Level 3)

  

Total

 

Derivative liabilities - warrants

 $  $  $16,400,000  $16,400,000 

Total

 $  $  $16,400,000  $16,400,000 
  

Fair Value Measurements at December 31, 2025

 
  

Quoted Prices in Active Markets for Identical Assets (Level 1)

  

Other Observable Inputs (Level 2)

  

Significant Unobservable Inputs (Level 3)

  

Total

 

Derivative liabilities - warrants

 $  $  $50,000  $50,000 

Total

 $  $  $50,000  $50,000 
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
  

December 31, 2025

  

December 31, 2024

  

October 1, 2024 (Issuance)

 

Exercise price

 $  $1.9445  

$12.00 - $25.00

 

Stock price

 $0.8138  $3.4700  $7.9100 

Expected term (year)

  3.75   4.75   5.00 

Volatility

  140.18%  133.00%  108.00%

Risk-free rate

  3.64%  4.28%  3.45%

Dividend yield

  %  %  %

Probability of capital raise below exercise price

  100%  100%  100%
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Table Text Block]
  

Amount

 

Gross proceeds

 $6,466,500 

Less: placement agent and legal fees

  (778,261)

Net proceeds

  5,688,239 

Less: Series F issued for Alpha consent

  (1,500,000)

Less: Fair value of warrant liabilities at Issuance

  (19,494,000)

Loss on equity financing

 $(15,305,761)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

December 31, 2024

  Amount 

Balance, beginning of the year

 $ 

Warrant liabilities at issuance

  19,494,000 

Change in fair value of warrant liabilities

  (3,094,000)

Balance, end of the year

 $16,400,000 
     

December 31, 2025

  Amount 

Balance, beginning of the year

 $16,400,000 

Amended Series B warrants reclassified to stockholders' equity (deficit)

  (7,766,000)

Change in fair value of warrant liabilities

  (8,584,000)

Balance, end of the year

 $50,000