Subsequent Events |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 | |||
| Subsequent Events [Abstract] | |||
| Subsequent Events |
Subsequent to December 31, 2025:
As discussed in Note 3, on January 16, 2026, the Company entered into an Assignment and Assumption of Debt Agreement with Two Shores Capital Corp. (“Two Shores”) and MJ Reg. Under the agreement, the Company assigned to Two Shores all of its rights, title, and interest in a promissory note with an outstanding principal balance of $2.0 million in exchange for cash consideration of $1.4 million. In connection with the transaction, the Company issued to Two Shores common stock warrants, each exercisable for one share of the Company’s common stock at an exercise price of $0.40 per share and expiring on January 16, 2029.
As discussed in Note 9, the Company fully settled the Notes for total consideration of $0.2 million.
As discussed in Note 12, the Company issued common shares to settle the vested RSUs. |