| Segments |
Note 21 - Segments The Company applies the provisions of ASC 280, Segment Reporting, which requires segment information to be reported based on the “management approach,” reflecting the manner in which the Company’s Chief Operating Decision Maker (“CODM”) allocates resources and assesses performance. In 2025, in connection with the acquisition of Grid AI Corp. on September 30, 2025, the Company reassessed its operating and reportable segments. Based on this assessment, the Company determined that it operates through two operating and reportable segments: | ● | AI Segment – consisting of the Company’s artificial intelligence–driven energy technology platform focused on distributed energy resource optimization and grid-edge applications through Grid AI Corp. and its subsidiaries. |
| ● | GI Segment – consisting of the Company’s legacy biotechnology operations, including the development of targeted, non-systemic therapies for gastrointestinal diseases. The Company’s Chief Executive Officer, Jason D. Sawyer, has been identified as the CODM. The CODM reviews operating results on both a segment basis and a condensed consolidated basis to evaluate performance and allocate resources. |
The measure of segment profit or loss is loss from operations, as reported in the condensed consolidated statements of operations. This measure is used by the CODM to assess performance and make resource allocation decisions. Segment assets are measured as total assets, as reported in the condensed consolidated balance sheets. The Company’s segments differ with respect to the nature of products and services, regulatory environments, and customer bases. As such, management has concluded that aggregation of these segments is not appropriate under ASC 280. The following represents selected information for the Company’s reportable segments: | | | | | | | | | March 31, 2026 | | December 31, 2025 | Total assets by reportable segments: | | | | | | | AI segment | | $ | 45,699,003 | | $ | 46,435,854 | GI segment | | | 2,266,675 | | | 2,115,989 | Total assets by reportable segments | | $ | 47,965,678 | | $ | 48,551,843 |
| | | | | | | | | Three Months Ended | | Three Months Ended | | | March 31, 2026 | | March 31, 2025 | Loss from operations by reportable segment: | | | | | | | AI segment | | $ | (1,727,596) | | $ | — | GI segment | | | (1,886,902) | | | (821,386) | Total operating loss by reportable segments | | $ | (3,614,498) | | $ | (821,386) |
For the three months ended March 31, 2025, prior to the acquisition of Grid AI Corp., the Company operated through one reportable segment, its legacy GI Segment. Accordingly, no AI Segment results are presented for that period. Operations by reportable segment for the three months ended March 31, 2026 are as follows: | | | | | | | | | | | | GridAI Technologies | | Grid AI Corp | | | | | | Corp (GI Segment) | | (AI Segment) | | Total | Revenue | | $ | — | | | 38,208 | | | 38,208 | Cost of Services | | | — | | | 651,948 | | | 651,948 | Gross Loss | | | — | | | (613,740) | | | (613,740) | | | | | | | | | | | Operating expenses: | | | | | | | | | | Research and development expenses | | $ | 3,624 | | $ | 627,756 | | $ | 631,380 | General and administrative expenses | | | 1,883,278 | | | 486,100 | | | 2,369,378 | Total operating expenses | | | 1,886,902 | | | 1,113,856 | | | 3,000,758 | Loss from operations | | | (1,886,902) | | | (1,727,596) | | | (3,614,498) | | | | | | | | | | | Other expenses: | | | | | | | | | | Interest Income (expense), net | | | (522,103) | | | 3 | | | (522,100) | Other income (expense), net | | | — | | | 400,267 | | | 400,267 | Total other income (expense) | | | (522,103) | | | 400,270 | | | (121,833) | Loss from continuing operations | | | (2,409,005) | | | (1,327,325) | | | (3,736,330) | Income tax benefit | | | — | | | (297,629) | | | (297,629) | Net loss | | $ | (2,409,005) | | $ | (1,029,696) | | $ | (3,438,702) |
For the three months ended March 31, 2025, prior to the acquisition of Grid AI Corp., the Company operated through one reportable segment, its legacy GI Segment. Accordingly, no AI Segment results are presented for that period.
|