v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net income $ 23,620,056 $ 11,992,780
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 191,490 174,773
Change in inventory reserve (54,830)
Stock compensation expense 342,239 602,433
Loss on deconsolidation of subsidiaries 75,138
Change in fair value of EIB loan guaranty (10,873,867)
Gain on impairment adjustment (2,079,575)
Gain on settlement of compensation expense (570,785)
Changes in operating assets and liabilities:    
Accounts receivable (219,513) 74,058
Inventory 54,830
Prepaid expenses and other current assets 1,157,195 348,704
Deferred offering costs 6,269 (6,269)
Investments (30,000,000) (5,000,000)
Accounts payable 835,654 134,047
Accrued compensation and benefits (32,699) (64,694)
Accrued liabilities 3,089,411 497,382
Operating lease liabilities (173,726) (147,943)
Deferred revenue (25,926)
Net cash used in operating activities (1,183,624) (4,869,744)
Cash flows from investing activities:    
Net cash acquired in business combination 519
Purchase of intangible asset (50,000)
Net cash used in investing activities (49,481)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 500,000 1,988,359
Proceeds from issuance of preferred stock, net of issuance costs 2,950,217
Proceeds from short-term insurance financing 284,304 300,926
Payments on short-term insurance financing (287,585) (210,648)
Payments on finance lease obligations (280)
Net cash provided by financing activities 496,719 5,028,574
Effects of exchange rates on cash (42,990)
Net (decrease) increase in cash, cash equivalents and restricted cash (779,376) 158,830
Cash and cash equivalents and restricted cash at beginning of year 1,612,915 1,454,085
Cash and cash equivalents and restricted cash at end of year 833,539 1,612,915
Supplemental disclosure of cash flow information    
Cash paid for interest 11,245 7,555
Supplemental disclosures of non-cash investing and financing activities    
Settlement of deferred compensation and severance 1,333,285
Issuance of common stock upon conversion of preferred stock 2,950,217
Common stock issuable pursuant to acquisition $ 11,420