Related Party Transactions |
12 Months Ended |
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Dec. 31, 2025 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | 9. Related Party Transactions
The principal members of the Company have a controlling interest in PatentVest, S.A. (renamed MDB Capital, S.A. in 2022), a company organized and based in Nicaragua that provides outsourced services to the Company and other non-related entities. During the years ended December 31, 2025 and 2024, the Company paid $1.8 million and $1.5 million, respectively, which is inclusive of expenses and fees, for contracted labor, recorded against general and administrative expenses.
During the years ended December 31, 2025 and 2024, PatentVest, engaged in transactions with ENDRA Life Sciences Inc – NDRA on Nasdaq, a company for which one of our executive officer serve as a board member. Anthony DiGiandomenico, our Chief of Transactions. For the year ended December 31, 2024, there were no revenues recognized between MDB entities and ENDRA. However, costs incurred amounting to $81 thousand related to transactions with ENDRA were recognized during the year. For the year ended December 31, 2025 there was no revenue or costs recognized during the year.
During the years ended December 31, 2025 and 2024, PatentVest engaged in transactions with eXoZymes, a company of which the Company owns 47% of recognized revenues of $91 thousand and $41 thousand.
During the year ended December 31, 2025, the Company recorded related party accrued receivables totaling $13 thousand for services performed by PatentVest on behalf of eXoZymes. Additionally, the Company recorded accrued expenses of $1 thousand payable to PatentVest, representing reimbursable expenses incurred in the ordinary course of business. During the year ended December 31, 2024, the Company recorded related party accrued receivables totaling $64 thousand. This amount includes $42 thousand for services performed by PatentVest on behalf of eXoZymes and $22 thousand related to taxes paid by the Company on behalf of certain officers, which was reimbursed in full by January 31, 2025. Additionally, the Company recorded accrued expenses of $23 thousand payable to officers and directors, representing reimbursable expenses incurred in the ordinary course of business. All transactions were conducted on an arm’s-length basis and are expected to be settled in the normal course of operations.
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