| Schedule of Consolidated Statements of Operations |
The
impact of these reclassifications on the Company’s consolidated statements of operations for the year ended December 31, 2024,
is shown below:
| | |
For the Year Ended
December
31, | |
| | |
As previously reported | | |
Reclassification | | |
As adjusted | |
| Revenue | |
$ | 172,661 | | |
$ | - | | |
$ | 172,661 | |
| Cost of goods sold | |
| 343,889 | | |
| (300,255 | ) | |
| 43,634 | |
| Gross profit | |
$ | (171,228 | ) | |
$ | 300,255 | | |
$ | 129,027 | |
| Operating expenses: | |
| | | |
| | | |
| | |
| General and administrative expenses | |
| 3,588,548 | | |
| (2,025,220 | ) | |
| 1,563,328 | |
| Research and development expenses | |
| 759,967 | | |
| 90,294 | | |
| 850,261 | |
| Sales and marketing | |
| 2,524,930 | | |
| 197,051 | | |
| 2,721,981 | |
| Acquisition and integration | |
| - | | |
| 2,038,130 | | |
| 2,038,130 | |
| Depreciation and amortization | |
| - | | |
| - | | |
| - | |
| Total operating expenses | |
| 6,873,445 | | |
| 300,255 | | |
| 7,173,700 | |
| Loss from operations | |
$ | (7,044,673 | ) | |
$ | - | | |
$ | (7,044,673 | ) |
| Change in fair value of SAFE notes | |
| (14,492,176 | ) | |
| - | | |
| (14,492,176 | ) |
| Loss before income taxes | |
$ | (21,536,849 | ) | |
$ | - | | |
$ | (21,536,849 | ) |
| Provision for income taxes | |
| 581 | | |
| - | | |
| 581 | |
| Net loss | |
$ | (21,537,430 | ) | |
$ | - | | |
$ | (21,537,430 | ) |
|
| Schedule of Condensed Consolidated Statements of Cash Flows |
The impact of
these revisions on the Company’s condensed consolidated statements of cash flows for the six and nine month periods ended June
30, 2025 and September 30, 2025, respectively, are presented below:
| | |
For the Six Months Ended
June 30, 2025 | |
| | |
As previously
reported | | |
Revision | | |
As adjusted | |
| Reverse recapitalization transaction | |
$ | (4,739,169 | ) | |
$ | 1,400,000 | | |
$ | (3,339,169 | ) |
| Accrued interest | |
| 280,000 | | |
| (280,000 | ) | |
| - | |
| Short-term debt, net | |
| 3,750,000 | | |
| (3,750,000 | ) | |
| - | |
| Net cash used in operating activities | |
$ | (3,762,742 | ) | |
$ | (2,630,000 | ) | |
$ | (6,392,742 | ) |
| Proceeds from issuance of bridge loans | |
| 500,000 | | |
| 2,350,000 | | |
| 2,850,000 | |
| Repayment of bridge loans | |
| (1,660,545 | ) | |
| 280,000 | | |
| (1,380,545 | ) |
| Net cash provided by financing activities | |
$ | 10,278,154 | | |
$ | 2,630,000 | | |
$ | 12,908,154 | |
| | |
For the Nine Months Ended
September 30, 2025 | |
| | |
As previously
reported | | |
Revision | | |
As adjusted | |
| Reverse recapitalization transaction | |
$ | (4,739,169 | ) | |
$ | 1,400,000 | | |
$ | (3,339,169 | ) |
| Accrued interest | |
| 280,000 | | |
| (280,000 | ) | |
| - | |
| Short-term debt, net | |
| 3,750,000 | | |
| (3,750,000 | ) | |
| - | |
| Net cash used in operating activities | |
$ | (8,197,830 | ) | |
$ | (2,630,000 | ) | |
$ | (10,827,830 | ) |
| Proceeds from issuance of bridge loans | |
| 500,000 | | |
| 2,350,000 | | |
| 2,850,000 | |
| Repayment of bridge loans | |
| (1,660,545 | ) | |
| 280,000 | | |
| (1,380,545 | ) |
| Net cash provided by financing activities | |
$ | 10,278,154 | | |
$ | 2,630,000 | | |
$ | 12,908,154 | |
|