10. Stockholders’ Equity |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Equity [Abstract] | |
| 10. Stockholders’ Equity | 10. Stockholders’ Equity Issuances of Preferred Stock On January 2, 2026, the Company created a new class of Series S Preferred stock with 51 authorized shares each having 1% of the fully diluted voting power of the company and convertible into one common share. On January 3, 2026, the Company issued 51 shares of Series S Preferred stock to Steel Giants Advisors LLC to facilitate restructuring of its’ financial obligations and manage its’ current and planned corporate actions. Issuances of Common Stock – On January 24, 2026 the Company engaged Farrington Capital Group, Inc. to enhance its online and technological platforms, make introductions to strategic advisors, and review operations. As compensation, Farrington Capital Group received $1,000 in cash and 100,000 restricted common shares.
On February 10, 2026, the Company created a Scientific Advisory Board to guide the Company through its planned restarts of clinical trials for treatments and cures for AML, solid cancer tumors, and other rare diseases. To support this effort, the Company approved the issuance of up to 1.5 million stock options to be issued at or above market prices over the next three years. The made bonafide offers to four professionals with significant experience in the medical research, academia and business fields. These candidates need their respective employers’ approval to join our Advisory Board. At this time, three individuals: 1) Wendy Charles , PhD, a digital health scientist and Global Speaker University of Colorado Anschutz Medical Campus, 2) Michael Hickey, V.P. of Clinical Operations to Processa Pharmaceuticals and the former V.P. of Clinical Operations, and 3) Rick Silva, PhD, a biomedical research professional with expertise in large research collaborations, consortia, R&D alliances, IP asset portfolio management, medical product development partnerships, venture development, and seed funding, have accepted and been appointed to the Scientific Advisory Board. They were each issued one hundred thousand common stock purchase warrants with a three-year term, $0.03 exercise price, and cashless exercise feature. Other candidates’ offers are pending reviews by their advisors and respective employers.
During the quarter ended March 31, 2025, the Company issued an aggregate of 2,540,000 shares of its common stock pursuant to the exercise of pre-funded warrants at a weighted average exercise price of approximately $0.001 per share. The Company did not issue any common stock pursuant to the exercise of warrants during the year ended December 31, 2024. Stockholders’ (Deficit) Equity totaled ($8.5) million as of March 31, 2026 compared to $(8.2) million as of December 31, 2025. There were shares of common stock issued and outstanding as of March 31, 2026 and shares of Series S preferred stock issued and outstanding as of March 31, 2026. |