v3.26.1
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 8 — SEGMENT INFORMATION

 

The Company operates as a single reportable segment, consisting of the design and development of innovative neurostimulation products. The Company’s focus is on treating mental health conditions without reliance on drugs or psychotherapy.

 

Consistent with its operational structure, the Chief Executive Officer, who serves as the chief operating decision maker (CODM), manages and allocates resources on a consolidated basis. Financial performance is evaluated based on consolidated net loss, which is also the primary measure used to allocate resources, assess operational performance, set targets, forecast results, and guide strategic decisions, including investments in research and development and commercialization activities.

 

The CODM monitors segment performance using consolidated net loss and total consolidated assets, which are reported on the unaudited condensed consolidated statements of operations and balance sheets, respectively. Consolidated net loss is compared against budgeted amounts on a quarterly basis to evaluate performance.

 

The following table summarizes financial information for the Company’s single reportable segment and reconciles to unaudited condensed consolidated net loss:

 

               
    Three Months Ended
March 31,		  
    2026     2025  
Total revenues                
US   $ 14,950     $ 20,443  
International     -       20,572  
Total Revenue     14,950       41,015  
Less:                
Cost of revenues (excluding amortization and depreciation)     1,817       13,558  
Research and development expense (excluding share-based compensation expense):                
Clinical trials     198,445       61,352  
EDC Build     55,800       18,050  
Halo project     88,767       298,037  
SYNC project     -       23,713  
Other research and development(a)     3,370       5,136  
General and administrative and salaries and benefits expense (excluding stock based compensation, depreciation and amortization expense)     801,904       622,948  
Depreciation     4,106       -  
Amortization     6,736       4,786  
Stock based compensation     478,611       636,844  
Professional fees     495,296       367,816  
Interest income, net     (34 )     (1,103 )
Equity in net income from equity method investees     -       1,048  
Other income     (23,031 )     (22,833 )
Segment net loss     (2,096,837 )     (1,988,337 )
                 
Reconciliation of net loss                
Adjustments and reconciling items     -       -  
Consolidated net loss   $ (2,096,837 )   $ (1,988,337 )

 

 
(a) Other research and development expenses primarily consist of facilities charges, third party consultant costs, costs related to other product candidates, and other unallocated costs.