v3.26.1
Condensed Consolidated Balance Sheets 10-Q - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets:          
Cash and cash equivalents $ 12,759,270 $ 25,253,578   $ 4,018,226  
Deposit assets 6,837,843 597,011   0  
Deferred offering costs 7,277,901 3,987,901   0  
Prepaid expenses and other assets 1,544,538 436,750   103,649  
Total current assets 28,419,552 30,275,240   4,121,875  
OTHER ASSETS:          
Deposit assets, long-term 3,979,386 1,360,004   0  
Equipment, net 546,370 433,804   3,134  
Intangible assets, net 30,000 30,000   30,000  
TOTAL ASSETS 32,975,308 32,099,048   4,155,009  
CURRENT LIABILITIES:          
Simple Agreements for Future Equity 39,987,009 29,660,667   0 $ 341,999
Accounts payable and accrued expenses 8,329,219 2,991,524   1,901,176  
Deposit liabilities 1,356,090 476,253   0  
Other current liabilities 53,240 18,896   0  
Total liabilities 49,725,558 33,147,340   1,901,176  
Convertible Preferred Stock, $0.00001 par value, 3,973,381 and 2,579,168 shares authorized at December 31, 2025 and 2024, respectively; 3,973,369 and 2,579,168 shares issued and outstanding at December 31, 2025 and 2024, respectively; liquidation preference of $27,271,959 and $7,271,985 at December 31, 2025 and December 31, 2024, respectively 26,854,552 26,854,552 $ 13,319,251 7,504,644 0
Commitments and contingencies (Note 9)    
STOCKHOLDERS' DEFICIT:          
Common Stock, $0.00001 par value, 16,615,864 and 13,942,168 shares authorized as of December 31, 2025 and 2024, respectively; 10,233,183 and 10,000,000 shares issued and outstanding as of December 31, 2025 and 2024, respectively. 102 102   100  
Additional paid-in capital 4,865,302 4,137,830   128,188  
Accumulated deficit (48,470,206) (32,040,776)   (5,379,099)  
Total stockholders' deficit (43,604,802) (27,902,844) $ (8,559,030) (5,250,811) $ (551,342)
TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT $ 32,975,308 $ 32,099,048   $ 4,155,009