v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash $ 1,235,564 $ 3,480,151
Prepaid expenses and other current assets 479,110 573,834
Deferred transaction costs 25,000
Total current assets 1,714,674 4,078,985
Property and equipment, net 1,757,810 1,757,271
Capital project costs 5,371,667 5,354,493
Investment in equity securities 42,975 37,374
Other long-term assets 550,109 547,169
Total assets 9,437,235 11,775,292
Current liabilities    
Accounts payable 8,462,791 8,305,096
Accrued liabilities and other current liabilities 3,467,569 4,836,999
Current portion of early exercised shares option liability 1,024 1,122
Current portion of convertible note 1,826,820 933,022
Short-term loans 103,848 205,403
Total current liabilities 13,862,052 14,281,642
Warrant liability 1,709,607 1,042,036
Earnout liability 4,700 4,700
Convertible note 1,728,143 2,259,984
Early exercised shares option liability 398 613
Total liabilities 17,304,900 17,588,975
Commitments and contingencies (Note 3)
Stockholders’ equity (deficit)    
Preferred stock, $0.0001 par value, 100,000,000 shares authorized, Nil shares issued and outstanding as at March 31, 2026, and December 31, 2025
Common stock, $0.0001 par value, 700,000,000 shares authorized, 9,966,473 and 9,869,558 shares issued and outstanding as at March 31, 2026, and December 31, 2025, respectively 985 975
Additional paid-in capital 65,708,626 62,527,926
Accumulated deficit (73,577,276) (68,342,584)
Total stockholders’ deficit (7,867,665) (5,813,683)
Total liabilities and stockholders’ deficit $ 9,437,235 $ 11,775,292