v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 5,389 $ 11,685
Accounts receivable 2,270
Non-trade accounts receivable 1,202 1,493
Non-trade accounts receivable - related parties 182
Inventories 1,564
Prepaid expenses and other current assets 660 48
Total current assets 11,267 13,226
Property, plant and equipment, net 7,443
Intangible assets, net 6,350
Deferred transaction costs 9,265
Goodwill 60,061
Other noncurrent assets 497
TOTAL ASSETS 85,618 22,491
Current liabilities:    
Accounts payable 8,954 4,651
Accounts payable - related parties 42
Non-trade accounts payable 47,951
Non-trade accounts payable - related parties 218
Short term debt 3,546
Short term debt - related parties 1,230 484
Current portion of long-term debt 1,593
Convertible promissory notes 2,296
July investment agreement derivative 379,205
CPU Share Allocation Obligation 292,680
Accrued expenses and other current liabilities 27,263 339
Total current liabilities 93,093 677,359
Long term debt 2,609
Long term debt - related parties 15
Other noncurrent liabilities 725
Total Liabilities 96,442 677,359
Commitments and contingencies (Note 19)
Stockholders’ Deficit    
Common stock $0.0001 par value, 593,349,852 shares authorized, 593,349,852 and 0 shares issued and outstanding as of March 31, 2026 and December 31, 2025 59 45 [1]
Equity-classified CPU share allocation 186,766
Additional paid-in capital 908,599 (2,374)
Convertible preferred units (Note 13 - Equity) 26,262
Accumulated deficit (1,119,121) (678,807)
Accumulated other comprehensive income (1,062) 6
Total stockholders’ deficit (24,759) (654,868)
Noncontrolling interest 13,935
Total deficit (10,824) (654,868)
Total liabilities and stockholders’ deficit $ 85,618 $ 22,491
[1] Par value of common stock, additional paid-in capital and share data have been retroactively restated to give effect to reverse recapitalization that is discussed in Note 3