v3.26.1
Consolidated Statements of Cash Flows 10-Q - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net loss $ (16,429,430) $ (3,308,219)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 727,472 0
Depreciation expense 16,661 198
Changes in operating assets and liabilities    
Accounts payable and accrued expenses 3,144,203 180,680
Deposit liabilities 879,837 0
Other current liabilities 34,344 0
Deposit assets (6,240,832) 0
Prepaid expenses and other current assets (1,107,788) (20,732)
Net cash used in operating activities (18,975,533) (3,148,074)
Investing Activities    
Deposits paid for equipment (2,619,382)
Purchases of equipment (129,227) 0
Net cash used in investing activities (2,748,609) 0
Financing Activities    
Proceeds from issuance of Simple Agreements for Future Equity 10,326,342 0
Proceeds from issuance of preferred stock and warrants 0 5,919,996
Payment of offering costs (1,096,508) (105,389)
Net cash provided by financing activities 9,229,834 5,814,607
Increase in cash and cash equivalents (12,494,308) 2,666,533
Cash and cash equivalents, at beginning of period 25,253,578 4,018,226
Cash and cash equivalents, at end of period 12,759,270 6,684,759
Supplemental disclosures of non-cash activities:    
Offering costs included in accounts payable and accrued expenses 2,662,084 0
Property and equipment additions included in accounts payable $ 10,734 $ 0