v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current Liabilities    
TOTAL LIABILITIES $ 659  
Commitments and contingencies  
Stockholders' Deficit    
Additional paid-in capital 10  
Accumulated deficit (659)  
TOTAL SHAREHOLDERS' DEFICIT (659)  
Forge Nano, Inc.    
Current Assets    
Cash and cash equivalents 9,061,000 $ 3,850,000
Restricted cash and cash equivalents 313,000  
Accounts receivable - net of allowance for credit losses of $40 and $33 as of December 31, 2025 and December 31, 2024, respectively 1,963,000 1,619,000
Contract assets - unbilled accounts receivable 6,586,000 3,660,000
Inventory 3,665,000 2,573,000
Prepaid expenses and other current assets 1,607,000 1,063,000
Total current assets 23,195,000 12,765,000
Property and equipment - net 14,652,000 16,592,000
Goodwill 3,124,000 3,124,000
Intangible assets - net 1,589,000 1,792,000
Restricted cash and cash equivalents 55,000 8,388,000
Right-of-use operating lease assets 65,087,000 2,636,000
Deposits 2,922,000 5,189,000
Total other assets 87,429,000 37,721,000
TOTAL ASSETS 110,624,000 50,486,000
Current Liabilities    
Accounts payable 4,332,000 3,952,000
Current portion of operating lease liabilities 1,287,000 470,000
Contract liabilities - deferred revenue 3,126,000 3,012,000
Provision for loss on contract 504,000  
Accrued and other current liabilities 3,027,000 3,008,000
Convertible debt - net of discount   1,627,000
Due to Sundew Technologies, LLC - current 1,811,000 1,413,000
Current portion of debt - net of discount 10,366,000 17,071,000
Total current liabilities 24,453,000 30,553,000
Operating lease liabilities 63,163,000 2,335,000
Derivative liability - conversion feature embedded in convertible debt   393,000
Warrant liabilities 5,624,000 6,264,000
TOTAL LIABILITIES 93,240,000 39,545,000
Commitments and contingencies
Mezzanine Equity    
Preferred stock - $0.0001 par value; 4,663,753 and 1,931,849 shares authorized and 1,925,348 and 1,676,528 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively.
Additional paid-in capital 136,538,000 88,347,000
Stockholders' Deficit    
Common stock - $0.0001 par value; 4,850,000 and 4,550,000 shares authorized and 1,648,841 and 1,643,081 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively. 0 0
Additional paid-in capital 9,934,000 8,508,000
Accumulated deficit (129,088,000) (85,914,000)
TOTAL SHAREHOLDERS' DEFICIT (119,154,000) (77,406,000)
TOTAL LIABILITIES, ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION, AND SHAREHOLDERS' DEFICIT $ 110,624,000 $ 50,486,000