v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net loss $ (35,823) $ (9,230)
Adjustments to reconcile net loss to net cash used in operating activities:    
Noncash interest expense 2,504 4,424
Noncash loss on change in fair value of convertible notes 3,108 311
Noncash issuance of inducement shares and in connection with the merger 7,254
Noncash issuance of warrants to financial advisor 330
Noncash issuance of warrants associated for ELOC Warrants 982
Loss on disposition of property and equipment, net 2
Stock-based compensation expenses 891 21
Gain on change in fair value of warrant liabilities (895)
Loss on change in fair value of digital assets 555
Noncash merger transaction costs 500
Changes in assets and liabilities:    
Other receivables 45
Prepaid expenses and other current assets 211 77
Other non-current assets 53 (25)
Accounts payable 3,560 645
Accrued expenses and other current liabilities 522 1,664
Net cash used in operating activities (16,248) (2,066)
Cash flows from investing activities    
Purchase of digital assets (2,000)
Purchase of property, plant and equipment (8)
Net cash used in investing activities (2,008)
Cash flows from financing activities    
Proceeds from issuance of notes 1,450 3,210
Proceeds from ELOC 10,276
Proceeds from issuance of loans payable 11,000
Proceeds from issuance of convertible loan 16
Net cash received from the reverse recapitalization 2
Repayment of convertible notes, senior notes, promissory notes and other (2,885) (150)
Payment of deferred offering costs (961)
Net cash provided by financing activities 19,843 2,115
Net increase in cash 1,587 49
Cash at the beginning of the period 191 142
Cash at the end of the period 1,778 191
Supplemental disclosures of non-cash investing and financing information:    
Assumption of net liabilities of Northview 8,400
Increase in unpaid deferred offering costs 269
Conversion of preferred stock into common stock 65,149
Conversion of debt to equity 51,388
Financing of D&O insurance premium 657
Supplemental disclosure of cash flow information:    
Cash paid for interest 296
Cash paid for taxes $ 1