v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES

The following potentially dilutive securities have been excluded from the computations of weighted average shares of Common Stock outstanding as of March 31, 2026 and 2025, respectively, as they would be anti-dilutive:

 

   2026   2025 
   As of March 31, 
   2026   2025 
Shares underlying options outstanding   9,055    9,531 
Shares underlying convertible preferred stock   101,448    — 
Shares underlying warrants outstanding   1,348,294    429,029 
Shares underlying unvested restricted stock   3,859    14,348 
Anti-dilutive securities   1,462,656    452,908 
SCHEDULE OF REVENUE RECOGNITION

 

   2026   2025 
  

For the Three Months Ended March 31,

 
   2026   2025 
Patient service fees1  $1,082,210   $1,570,382 
Histology service fees   250,516    263,754 
Medical director fees   17,461    16,588 
Department of Defense observational studies   1,131    — 
Other revenues   209    2,873 
Total net revenue  $1,351,527   $1,853,597 

 

 

  1 Patient services fees include direct billing for CyPath® Lung diagnostic test of approximately $361,000 and $169,000 for the three months ended March 31, 2026 and 2025, respectively.
SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE

Property and equipment are carried at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of the asset. Amortization of leasehold improvements is computed using the shorter of the lease term or estimated useful life of the asset. Additions and improvements are capitalized, while repairs and maintenance are expensed as incurred. Useful lives of each asset class are as follows:

 

Asset Category  Useful Life
Computer equipment  3-5 years
Computer software  3 years
Equipment  3-5 years
Furniture and fixtures  5-7 years
Vehicles  5 years
Leasehold improvements  Lesser of lease term or useful life
SCHEDULE OF INTANGIBLE ASSETS

 

   March 31,   December 31, 
   2026   2025 
Cost          
Trade names and trademarks   150,000    150,000 
Customer relationships   700,000    700,000 
Cost   2,254,486    2,254,486 
Accumulated amortization          
Trade names and trademarks   (21,111)   (19,028)
Customer relationships   (126,667)   (114,166)
Accumulated amortization   (147,778)   (133,194)
Total finite-lived intangible assets, net  $702,222   $716,806 
           
Goodwill  $1,404,486   $1,404,486 
           
Total intangibles assets, net  $2,106,708   $2,121,292 
SCHEDULE OF ESTIMATED AMORTIZATION OF INTANGIBLE ASSETS

The estimated amortization expense related to amortizable intangible assets for each of the five succeeding fiscal years and thereafter as of March 31, 2026 is as follows:

 

As of March 31, 2026    
2026  $43,750 
2027   58,333 
2028   58,333 
2029   58,333 
2030   58,333 
Thereafter   425,140 
Total  $702,222
SCHEDULE OF SEGMENT INFORMATION

 

   2026   2025 
   As of March 31, 
   2026   2025 
Net revenues:          
Diagnostic R&D  $1,131   $— 
Laboratory services   1,350,396    1,853,597 
Total net revenues   1,351,527    1,853,597 
           
Operating expenses:          
Diagnostic R&D   (683,747)   (505,739)
Laboratory services   (1,832,592)   (2,267,656)
General corporate activities   (2,452,164)   (1,707,341)
Total operating loss   (3,616,976)   (2,627,139)
           
Non-operating income (expense), net   (13,634)   (24,583)
Net loss before income taxes   (3,630,610)   (2,651,722)
Income tax expense   —    (8,695)
Net loss  $(3,630,610)  $(2,660,417)