Convertible Preferred Stock and Stockholders’ Deficit (Tables) 10-Q

3 Months Ended

12 Months Ended

Mar. 31, 2026

Dec. 31, 2025

Preferred stock outstanding as of March 31, 2026 consisted of the following:


			Sales
Preferred Stock Series	Shares Sold	Par Value	Price / Share	Total Proceeds
Series B (1)	412,684	$0.00001	$14.35	$ 5,920,000
Series B	219,383	$0.00001	$14.35	3,147,136
Series B	121,991	$0.00001	$14.35	1,750,000
Series B	640,143	$0.00001	$14.35	9,182,844
Total Series B	1,394,201			19,999,980


			Sales
Preferred Stock Series	Shares Sold	Par Value	Price / Share	Total Proceeds
Series A-1 (2)	752,726	$0.00001	$1.65	1,242,998
Series A-2	1,826,442	$0.00001	$3.30	6,029,987
Total Series A	2,579,168			7,272,985

Total Series A and B	3,973,369			$	27,272,965

_________________

(1)Total proceeds from this includes warrants

(2)Series A-1 were converted SAFEs originally issued in 2023 and 2024

Preferred stock sold during the year ended December 31, 2025 consisted of the following:


Preferred Stock Series	Three Months Ended	Shares Sold	Par Value		Sales Price / Share		Total Proceeds
Series B(1)	March 31, 2025	412,684	$	0.00001	$	14.35	$	5,920,000
Series B	June 30, 2025	219,383	$	0.00001	$	14.35	3,147,136
Series B	September 30, 2025	121,991	$	0.00001	$	14.35	1,750,000
Series B	December 31, 2025	640,143	$	0.00001	$	14.35	9,182,844
		1,394,201					$	19,999,980

___________________

(1)Total proceeds from this includes warrants

Preferred stock sold and SAFEs converted to preferred stock during December 31, 2024 consisted of the following:


Preferred Stock Series	Date Converted/Sold	Shares Converted/Sold	Par Value		Sales Price / Share		Total Proceeds
Series A-1(1)	April 5 2024	752,726	$	0.00001	$	1.65	$	1,241,998
Series A-2	April 5 2024	1,826,442	$	0.00001	$	3.30	6,029,987
Total		2,579,168					$	7,271,985

__________________

(1)Series A-1 were converted SAFEs originally issued in 2023 and 2024.

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details