v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ 177,876 $ (415,654)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Services provided to unconsolidated entities (22,500) (135,000)
Depreciation 17,904 20,530
Financing fees amortization 0 37,240
Amortization of finance liability 163,616 159,320
Amortization of deferred discount 0 415,578
Note payable interest accretion 0 547,810
Note interest paid-in-kind ("PIK") 0 544,876
Share-based compensation 150,972 45,742
Director and consultant compensation paid in stock 291,400 98,841
Loss on equity method investment 422,487 68,864
Change in fair value of derivative liabilities (7,488,205) (3,222,938)
Changes in operating assets and liabilities:    
Accounts receivable and other related party receivables 17,457 218,458
Other assets 165,125 109,897
Accounts payable 773,285 (11,515)
Accrued expenses and other 1,498,336 (437,359)
NET CASH USED IN OPERATING ACTIVITIES (3,832,247) (1,955,310)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Equity issuance costs 0 (89,315)
Payment of debt obligations (154,511) (152,578)
Proceeds from warrants exercised 2,635,003 0
Proceeds from exercise of stock options 74,538 0
Payment on financing obligations (135,000) (135,000)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 2,420,030 (376,893)
NET DECREASE IN CASH (1,412,217) (2,332,203)
CASH AT BEGINNING OF PERIOD 3,515,881 4,791,743
CASH AT END OF PERIOD 2,103,664 2,459,540
SUPPLEMENTAL CASH FLOW INFORMATION:    
Director and consultant compensation paid in stock $ 291,400 $ 98,841