Correction of Errors in Previously Reported Consolidated Financial Statements (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2026

Dec. 31, 2025

Correction of Errors in Previously Reported Consolidated Financial Statements [Abstract]

Schedule of Previously Reported Condensed Consolidated and Combined Balance Sheet

The impact of the restatement on the previously reported condensed consolidated and combined balance sheet as of March 31, 2024, is as follows:

		March 31, 2024 (Unaudited)
		As Reported				Adjustments				As Restated
Stockholders’ Equity (Deficit):
Preferred stock, $0.0001 par value; 2,000,000 shares authorized; none issued and outstanding		$	—			$	—			$	—
Common stock; $0.0001 par value; 300,000,000 shares authorized; 1,738,005 issued and outstanding as of March 31, 2024			8,689				—				8,689
Additional paid-in capital			79,158,563				2,769,719				81,928,282
Stock subscription receivable			(80,241	)			—				(80,241	)
Accumulated Deficit			(119,717,769	)			(2,769,719	)			(122,487,488	)
Total Stockholders’ Equity (Deficit)		$	(40,630,758	)		$	—			$	(40,630,758	)

The impact of the restatement on the previously reported condensed consolidated and combined balance sheet as of June 30, 2024, is as follows:

		June 30, 2024 (Unaudited)
		As Reported				Adjustments				As Restated
Stockholders’ Equity (Deficit):
Preferred stock; $0.0001 par value; 2,000,000 shares authorized; none issued and outstanding		$	—			$	—			$	—
Common stock; $0.0001 par value; 300,000,000 shares authorized; 1,742,004 issued and outstanding as of June 30, 2024			8,709				—				8,709
Additional paid-in capital			79,610,239				2,873,709				82,483,948
Stock subscription receivable			(80,241	)			—				(80,241	)
Accumulated Deficit			(97,699,353	)			(2,873,709	)			(100,573,062	)
Total Stockholders’ Equity (Deficit)		$	(18,160,646	)		$	—			$	(18,160,646	)

The impact of the restatement on the previously reported condensed consolidated and combined balance sheet as of September 30, 2024, is as follows:

		September 30, 2024 (Unaudited)
		As Reported				Adjustments				As Restated
Stockholders’ Equity (Deficit):
Preferred stock; $0.0001 par value; 2,000,000 shares authorized; none issued and outstanding		$	—			$	—			$	—
Common stock; $0.0001 par value; 300,000,000 shares authorized; 2,346,815 issued and outstanding as of September 30, 2024			11,733				—				11,733
Additional paid-in capital			85,617,896				8,350,845				93,968,741
Stock subscription receivable			(80,241	)			(2,395,919	)			(2,476,160	)
Accumulated Deficit			(104,336,032	)			(5,954,926	)			(110,290,958	)
Total Stockholders’ Equity (Deficit)		$	(18,786,644	)		$	—			$	(18,786,644	)

The impact of the restatement on the consolidated and combined balance sheet as of December 31, 2024, is as follows:

		December 31, 2024
		As Reported				Adjustments				As Restated
Stockholders’ Equity (Deficit):
Preferred stock; $0.0001 par value; 2,000,000 shares authorized; none issued and outstanding		$	—			$	—			$	—
Common stock; $0.0001 par value; 300,000,000 shares authorized; 2,633,956 issued and outstanding as of December 31, 2024			13,169				—				13,169
Additional paid-in capital			93,045,581				8,953,375				101,998,956
Stock subscription receivable			(80,241	)			(2,465,345	)			(2,545,586	)
Accumulated Deficit			(115,880,509	)			(6,488,030	)			(122,368,539	)
Total Stockholders’ Equity (Deficit)		$	(22,902,000	)		$	—			$	(22,902,000	)

Schedule of Previously Reported Condensed Consolidated and Combined Statements of Operations

The impact of the restatement on the previously reported condensed consolidated and combined statement of operations for the three months ended March 31, 2024, is as follows:

		March 31, 2024 (Unaudited)
		As Reported				Adjustments				As Restated
OTHER INCOME (EXPENSE)
Change in fair value of derivative liabilities		$	(8,182,500	)		$	—			$	(8,182,500	)
Loss on issuance of Common Stock and Warrants			(17,820,998	)			(2,769,719	)			(20,590,717	)
Interest income			311				—				311
Interest expense			(3,739	)			—				(3,739	)
Other income (expense)			(1	)			—				(1	)
Total other expense			(26,006,927	)			(2,769,719	)			(28,776,646	)

Net loss before income tax provision			(29,766,263	)			(2,769,719	)			(32,535,982	)

Income tax provision			—				—				—

Net loss		$	(29,766,263	)		$	(2,769,719	)		$	(32,535,982	)

Weighted average shares outstanding, basic and diluted			1,563,968				24,839				1,588,807
Basic and diluted net loss per share		$	(19.03	)		$	—			$	(20.48	)

The impact of the restatement on the previously reported condensed consolidated and combined statement of operations for the six months ended June 30, 2024, is as follows:

		For the Six Months Ended June 30, 2024 (Unaudited)
		As Reported				Adjustments				As Restated
OTHER INCOME (EXPENSE)
Change in fair value of derivative liabilities		$	16,784,200			$	(103,990	)		$	16,680,210
Loss on issuance of Common Stock and Warrants			(17,820,998	)			(2,769,719	)			(20,590,717	)
Interest income			482				—				482
Interest expense			(22,923	)			—				(22,923	)
Other income (expense)			4,037				—				4,037
Total other income (expense)			(1,055,202	)			(2,873,709	)			(3,928,911	)

Net income (loss) before income tax provision			(7,747,847	)			(2,873,709	)			(10,621,556	)

Income tax provision			—				—				—

Net Income (loss)		$	(7,747,847	)		$	(2,873,709	)		$	(10,621,556	)

Weighted average number of shares of common stock outstanding, basic			1,651,120				62,547				1,713,667
Basic net income (loss) per share of common stock		$	(4.69	)		$	—			$	(6.20	)

The impact of the restatement on the condensed consolidated and combined statement of operations for the three months ended June 30, 2024 is as follows:

		For the Three Months Ended June 30, 2024 (Unaudited)
		As Reported				Adjustments				As Restated
OTHER INCOME (EXPENSE)
Change in fair value of derivative liabilities		$	24,966,700			$	(103,990	)		$	24,862,710
Loss on issuance of Common Stock and Warrants			—				—				—
Interest income			171				—				171
Interest expense			(19,184	)			—				(19,184	)
Other income (expense)			4,038				—				4,038
Total other income (expense)			24,951,725				(103,990	)			24,847,735

Net income (loss) before income tax provision			22,018,416				(103,990	)			21,914,426

Income tax provision			—				—				—

Net Income (loss)		$	22,018,416			$	(103,990	)		$	21,914,426

Weighted average number of shares of common stock outstanding, basic			1,738,272				100,255				1,838,527
Basic net income (loss) per share of common stock		$	12.67			$	—			$	11.92

Diluted net income (loss)		$	22,018,416			$	(12,029,950	)		$	9,884,476
Weighted average number of shares of common stock outstanding, diluted			1,923,190				50,191				1,973,381
Diluted net income (loss) per share of common stock		$	11.45			$	—			$	5.01

The impact of the restatement on the previously reported condensed consolidated and combined statement of operations for the nine months ended September 30, 2024, is as follows:

		For the Nine Months Ended September 30, 2024 (Unaudited)
		As Reported				Adjustments				As Restated
OTHER INCOME (EXPENSE)
Change in fair value of derivative liabilities		$	24,017,035			$	(2,433,060	)		$	21,583,975
Loss on issuance of Common Stock and Warrants			(27,475,797	)			(3,521,866	)			(30,997,663	)
Interest income			2,055				—				2,055
Interest expense			(45,833	)			—				(45,833	)
Other income (expense)			3,665				—				3,665
Total other income (expense)			(3,498,875	)			(5,954,926	)			(9,453,801	)

Net income (loss) before income tax provision			(14,384,526	)			(5,954,926	)			(20,339,452	)

Income tax provision			—				—				—

Net Income (loss)		$	(14,384,526	)		$	(5,954,926	)		$	(20,339,452	)

Weighted average number of shares of common stock outstanding, basic			1,764,630				113,833				1,878,463
Basic net income (loss) per share of common stock		$	(8.15	)		$	—			$	(10.83	)

The impact of the restatement on the condensed consolidated and combined statement of operations for the three months ended September 30, 2024 is as follows:

		For the Three Months Ended September 30, 2024 (Unaudited)
		As Reported				Adjustments				As Restated
OTHER INCOME (EXPENSE)
Change in fair value of derivative liabilities		$	7,232,835			$	(2,329,070	)		$	4,903,765
Loss on issuance of Common Stock and Warrants			(9,654,799	)			(752,147	)			(10,406,946	)
Interest income			1,573				—				1,573
Interest expense			(22,910	)			—				(22,910	)
Other income (expense)			(372	)			—				(372	)
Total other income (expense)			(2,443,673	)			(3,081,217	)			(5,524,890	)

Net income (loss) before income tax provision			(6,636,679	)			(3,081,217	)			(9,717,896	)

Income tax provision			—				—				—

Net Income (loss)		$	(6,636,679	)		$	(3,081,217	)		$	(9,717,896	)

Weighted average number of shares of common stock outstanding, basic and diluted			1,989,183				215,289				2,204,472
Basic and diluted net income (loss) per share of common stock		$	(3.34	)		$	—			$	(4.41	)

The impact of the restatement on the consolidated and combined statement of operations for the year ended December 31, 2024 is as follows:

		For the Year Ended December 31, 2024
		As Reported				Adjustments				As Restated
OTHER INCOME (EXPENSE)
Change in fair value of derivative liabilities		$	18,011,100			$	(5,735,883	)		$	12,275,217
Los on issuance of Common Stock and Warrants			(30,281,475	)			(752,147	)			(31,033,622	)
Interest income			13,806				—				13,806
Interest expense			(366,963	)			—				(366,963	)
Other income (expense)			(5,934	)			—				(5,934	)
Total other income (expense)			(12,629,466	)			(6,488,030	)			(19,117,496	)

Net income (loss) before income tax provision			(25,929,003	)			(6,488,030	)			(32,417,033	)

Income tax provision			—				—				—

Net Income (loss)		$	(25,929,003	)		$	(6,488,030	)		$	(32,417,033	)

Weighted average number of shares of common stock outstanding, basic and diluted			1,993,662				58,046				2,051,708
Basic and diluted net income (loss) per share of common stock		$	(13.01	)		$	—			$	(15.80	)

Schedule of Previously Reported Condensed consolidated and Combined Statement of Changes in Stockholders’ (Deficit) Equity

The impact of the restatement on the previously reported condensed consolidated and combined statement of changes in stockholders’ (deficit) equity for the three months ended March 31, 2024, is as follows:

		Three Months Ended March 31, 2024 (Unaudited)
		Additional Paid-in Capital			Accumulated Deficit				Total Stockholders’ Equity (Deficit)


As Reported
Balance at January 1, 2024, after retroactive application of recapitalization			28,850,985			(25,445,506	)			3,412,459
Convertible note – stock issuance loss			—			—				—
Net loss			—			(29,766,263	)			(29,766,263	)
Balance at March 31, 2024		$	79,158,563		$	(119,717,769	)		$	(40,630,758	)

Adjustments
Balance at January 1, 2024, after retroactive application of recapitalization			—			—				—
Convertible note – stock issuance loss			2,769,719			—				2,769,719
Net loss			—			(2,769,719	)			(2,769,719	)
Balance at March 31, 2024		$	2,769,719		$	(2,769,719	)		$	—

As Restated
Balance at January 1, 2024, after retroactive application of recapitalization			28,850,985			(25,445,506	)			3,412,459
Convertible note – stock issuance loss			2,769,719			—				2,769,719
Net loss			—			(32,535,982	)			(32,535,982	)
Balance at March 31, 2024		$	81,928,282		$	(122,487,488	)		$	(40,630,758	)

The impact of the restatement on the previously reported condensed consolidated and combined statement of changes in stockholders’ (deficit) equity for the three and six months ended June 30, 2024, is as follows:

		For the Three and Six Months Ended June 30, 2024 (Unaudited)
		Additional Paid-in Capital			Accumulated Deficit				Stockholders’ Equity (Deficit)


As Reported
Balance at January 1, 2024, after retroactive application of recapitalization			28,850,985			(25,445,506	)			3,412,459
Convertible note – stock issuance loss			—			—				—
Net Loss			—			(29,766,263	)			(29,766,263	)
Balance at March 31, 2024			79,158,563		$	(119,717,769	)			(40,630,758	)
Shares issued from exercise of Series B Warrants			14			—				34
Net Income			—			22,018,416				22,018,416
Balance at June 30, 2024		$	79,610,239		$	(97,699,353	)		$	(18,160,646	)

Adjustments
Balance at January 1, 2024, after retroactive application of recapitalization			—			—				—
Convertible note – stock issuance loss			2,769,719			—				2,769,719
Net Loss			—			(2,769,719	)			(2,769,719	)
Balance at March 31, 2024			2,769,719			(2,769,719	)			—
Shares issued from exercise of Series B Warrants			103,990			—				103,990
Net Loss			—			(103,990	)			(103,990	)
Balance at June 30, 2024		$	103,990		$	(103,990	)		$	—

As Restated
Balance at January 1, 2024, after retroactive application of recapitalization			28,850,985			(25,445,506	)			3,412,459
Convertible note – stock issuance loss			2,769,719			—				2,769,719
Net Loss			—			(32,535,982	)			(32,535,982	)
Balance at March 31, 2024			81,928,282			(122,487,488	)			(40,630,758	)
Shares issued from exercise of Series B Warrants			104,004			—				104,024
Net Income			—			21,914,426				21,914,426
Balance at June 30, 2024		$	82,483,948		$	(100,573,062	)		$	(18,160,646	)

The impact of the restatement on the previously reported condensed consolidated and combined statement of changes in stockholders’ (deficit) equity for the three and nine months ended September 30, 2024, is as follows:

						For the Three and Nine Months Ended September 30, 2024 (Unaudited)
		Additional Paid-in Capital				Accumulated Deficit				Stock Subscription Receivable				Stockholders’ Equity (Deficit)


As Reported
Balance at January 1, 2024, after retroactive application of recapitalization			28,850,985				(25,445,506	)			—				3,412,459
Convertible note – stock issuance loss			—				—				—				—
Net Loss			—				(29,766,263	)			—				(29,766,263	)
Balance at March 31, 2024			79,158,563				(119,717,769	)			(80,241	)			(40,630,758	)
Shares issued from exercise of Series B Warrants			14				—				—				34
Net Income			—				22,018,416				—				22,018,416
Balance at June 30, 2024			79,610,239				(97,699,353	)			(80,241	)			(18,160,646	)
Shares issued from exercise of Series A Warrants			162,007				—				—				162,054
Shares issued from exercise of Series B Warrants			1,370				—				—				1,886
Issuance of common stock for Forward Purchase Agreement			(954	)			—				—				—
Forward Purchase Agreement – subscription receivable discount			—				—				—				—
Net Loss			—				(6,636,679	)			—				(6,636,679	)
Balance at September 30, 2024		$	85,617,896			$	(104,336,032	)		$	(80,241	)		$	(18,786,644	)

Adjustments
Balance at January 1, 2024, after retroactive application of recapitalization			—				—				—				—
Convertible note – stock issuance loss			2,769,719				—				—				2,769,719
Net Loss			—				(2,769,719	)			—				(2,769,719	)
Balance at March 31, 2024			2,769,719				(2,769,719	)			—				—
Shares issued from exercise of Series B Warrants			103,990				—				—				103,990
Net Loss			—				(103,990	)			—				(103,990	)
Balance at June 30, 2024			103,990				(103,990	)			—				—
Shares issued from exercise of Series A Warrants			31,703				—				—				31,703
Shares issued from exercise of Series B Warrants			2,297,367				—				—				2,297,367
Issuance of common stock for Forward Purchase Agreement			3,124,379				—				(2,372,232	)			752,147
Forward Purchase Agreement – subscription receivable discount			23,687				—				(23,687	)			—

					For the Three and Nine Months Ended September 30, 2024 (Unaudited)
		Additional Paid-in Capital			Accumulated Deficit				Stock Subscription Receivable				Stockholders’ Equity (Deficit)


Net Loss			—			(3,081,217	)			—				(3,081,217	)
Balance at September 30, 2024		$	5,477,136		$	(3,081,217	)		$	(2,395,919	)		$	—

As Restated
Balance at January 1, 2024, after retroactive application of recapitalization			28,850,985			(25,445,506	)			—				3,412,459
Convertible note – stock issuance loss			2,769,719			—				—				2,769,719
Net Loss			—			(32,535,982	)			—				(32,535,982	)
Balance at March 31, 2024			81,928,282			(122,487,488	)			(80,241	)			(40,630,758	)
Shares issued from exercise of Series B Warrants			104,004			—				—				104,024
Net Income			—			21,914,426				—				21,914,426
Balance at June 30, 2024			82,483,948			(100,573,062	)			(80,241	)			(18,160,646	)
Shares issued from exercise of Series A Warrants			193,710			—				—				193,757
Shares issued from exercise of Series B Warrants			2,298,737			—				—				2,299,253
Issuance of common stock for Forward Purchase Agreement			3,123,425			—				(2,372,232	)			752,147
Forward Purchase Agreement – subscription receivable discount			23,687			—				(23,687	)			—
Net Loss			—			(9,717,896	)			—				(9,717,896	)
Balance at September 30, 2024		$	93,968,741		$	(110,290,958	)		$	(2,476,160	)		$	(18,786,644	)

The impact of the restatement on the consolidated and combined statement of changes in stockholders’ (deficit) equity for the year ended December 31, 2024 is as follows:

		For the Year Ended December 31, 2024
		Additional Paid-in Capital				Accumulated Deficit				Stock Subscription Receivable				Total Stockholders’ Equity (Deficit)
As Previously Reported
Balance at January 1, 2024, after retroactive application of recapitalization			28,850,985				(25,445,506	)			—				3,412,459
Shares issued from exercise of Series A Warrants			4,255,907				—				—				4,257,282
Shares issued from exercise of Series B Warrants			1,384				—				—				1,959
Issuance of common stock for Forward Purchase Agreement			(954	)			—				—				—
Forward Purchase Agreement – subscription receivable discount			—				—				—				—
Net Loss			—				(25,929,003	)			—				(25,929,003	)
Balance at December 31, 2024		$	93,045,581			$	(115,880,509	)		$	(80,241	)		$	(22,902,000	)

		For the Year Ended December 31, 2024
		Additional Paid-in Capital			Accumulated Deficit				Stock Subscription Receivable				Total Stockholders’ Equity (Deficit)
Adjustments
Balance at January 1, 2024, after retroactive application of recapitalization			—			—				—				—
Shares issued from exercise of Series A Warrants			3,065,913			—				—				3,065,913
Shares issued from exercise of Series B Warrants			2,669,970			—				—				2,669,970
Issuance of common stock for Forward Purchase Agreement			3,124,379			—				(2,372,232	)			752,147
Forward Purchase Agreement – subscription receivable discount			93,113							(93,113	)
Net Loss			—			(6,488,030	)			—				(6,488,030	)
Balance at December 31, 2024		$	8,953,375		$	(6,488,030	)		$	(2,465,345	)		$	—

As Restated
Balance at January 1, 2024, after retroactive application of recapitalization			28,850,985			(25,445,506	)			—				3,412,459
Shares issued from exercise of Series A Warrants			7,321,820			—				—				7,323,195
Shares issued from exercise of Series B Warrants			2,671,354			—				—				2,671,929
Issuance of common stock for Forward Purchase Agreement			3,123,425			—				(2,372,232	)			752,147
Forward Purchase Agreement – subscription receivable discount			93,113			—				(93,113	)			—
Net Loss			—			(32,417,033	)			—				(32,417,033	)
Balance at December 31, 2024		$	101,998,956		$	(122,368,539	)		$	(2,545,586	)		$	(22,902,000	)

Schedule of Previously Reported Condensed Consolidated and Combined Statement of Cash Flows

The impact of the restatement on the previously reported condensed consolidated and combined statement of cash flows for the three months ended March 30, 2024, is as follows:

		March 31, 2024 (Unaudited)
		As Reported				Adjustments				As Restated
Cash Flows From Operating Activities:
Net loss		$	(29,766,263	)		$	(2,769,719	)		$	(32,535,982	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and Amortization expense			94,392				—				94,392
Stock-based compensation			1,359,000				—				1,359,000
Change in fair value of derivative liabilities			8,182,500				—				8,182,500
Loss on issuance of common stock and warrants			17,820,998				2,769,719				20,590,717

The impact of the restatement on the previously reported condensed consolidated and combined statement of cash flows for the six months ended June 30, 2024, is as follows:

		For the Six Months Ended June 30, 2024 (Unaudited)
		As Reported				Adjustments				As Restated
Cash Flows From Operating Activities:
Net loss		$	(7,747,847	)		$	(2,873,709	)		$	(10,621,556	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and Amortization expense			197,303				—				197,303
Stock-based compensation			1,810,662				—				1,810,662
Change in fair value of derivative liabilities			(16,784,200	)			103,990				(16,680,210	)
Loss on issuance of common stock and warrants			17,820,998				2,769,719				20,590,717

The impact of the restatement on the previously reported condensed consolidated and combined statement of cash flows for the nine months ended September 30, 2024, is as follows:

		For the Nine Months Ended September 30, 2024 (Unaudited)
		As Reported				Adjustments				As Restated
Cash Flows From Operating Activities:
Net loss		$	(14,384,526	)		$	(5,954,926	)		$	(20,339,452	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and Amortization expense			298,805				—				298,805
Stock-based compensation			2,088,838				—				2,088,838
Equity compensation expense			1,726,000				—				1,726,000
Change in fair value of derivative liabilities			(24,017,035	)			2,433,060				(21,583,975	)
Loss on issuance of common stock and warrants			27,475,797				3,521,866				30,997,663

As a result of the restatement, the Company has disclosed the following non-cash financing activity for the nine months ended September 30, 2024:

Supplemental disclosure of non-cash financing activities:		As Reported			Adjustments			As Restated
Issuance of Common Stock upon the closing of the Merger		$	2,435		$	—		$	2,435
Issuance of Common Stock for Forward Purchase Agreement		$	—		$	3,124,379		$	3,124,379
Stock subscription receivable, net of discount		$	—		$	2,372,232		$	2,372,232
FPA discount accretion		$	—		$	23,687		$	23,687

The impact of the restatement on the consolidated and combined statement of cash flows for the year ended December 31, 2024 is as follows:

		For the Year Ended December 31, 2024
		As Reported				Adjustments				As Restated
Cash Flows From Operating Activities:
Net loss		$	(25,929,003	)		$	(6,488,030	)		$	(32,417,033	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and Amortization expense			350,509				—				350,509
Stock-based compensation			2,367,014				—				2,367,014
Equity compensation expense			1,976,000				—				1,976,000
Non-cash interest expense			303,061				—				303,061
Change in fair value of derivative liabilities			(18,011,100	)			5,735,883				(12,275,217	)
Loss on issuance of common stock and warrants			30,281,475				752,147				31,033,622

As a result of the restatement, the Company has disclosed the following non-cash financing activity for the year ended December 31, 2024:

Supplemental disclosure of non-cash financing activities:		As Reported			Adjustments			As Restated
Issuance of Common Stock upon the closing of the Merger		$	4,993		$	—		$	4,993
Issuance of Common Stock for Forward Purchase Agreement		$	—		$	3,124,379		$	3,124,379
Stock subscription receivable, net of discount		$	—			2,372,232		$	2,372,232
FPA discount accretion		$	—		$	93,113		$	93,113
Capitalized interest to principal balance of short-term note payable		$	24,061		$	—		$	24,061

Schedule of Revised the Previously Issued Interim Balance Sheets

The restatement resulted in adjustments to the Company’s opening stockholders’ equity as of January 1, 2025. The adjustments had no impact on the Company’s statements of operations or cash flows for any previously issued 2025 interim period. The following table presents the impact on stockholders’ equity:

		Additional Paid-in Capital			Accumulated Deficit				Stock Subscription Receivable				Total Stockholders’ Equity (Deficit)
Balance at January 1, 2025 (as previously reported)		$	93,045,581		$	(115,880,509	)		$	(80,241	)		$	(22,902,000	)
Correction of prior-period error – warrant remeasurement			5,735,883			(5,735,883	)			—				—
Correction of prior-period error – Issuance of FPA shares			3,124,379			(752,147	)			(2,372,232	)			—
Correction of prior-period error – FPA subscription receivable discount			93,113			—				(93,113	)			—
Balance at January 1, 2025 (as restated)			101,998,956			(122,368,539	)			(2,545,586	)			(22,902,000	)
Net income			—			9,194,630				—				9,194,630
Balance at March 31, 2025			103,535,931			(113,173,909	)			(2,545,586	)			(12,183,292	)

Accordingly, the Company has restated the previously issued interim balance sheets included in the Company’s Quarterly Report on Form 10-Q for the quarters ended March 31, 2025 and September 30, 2025 and Form 10-Q/A for the quarter ended June 30, 2025 to reflect the corrected opening equity balances.

		Additional Paid-in Capital			Accumulated Deficit				Stock Subscription Receivable				Total Stockholders’ Equity (Deficit)
Balance at January 1, 2025 (as previously reported)		$	93,045,581		$	(115,880,509	)		$	(80,241	)		$	(22,902,000	)
Correction of prior-period error – warrant remeasurement			5,735,883			(5,735,883	)			—				—
Correction of prior-period error – Issuance of FPA shares			3,124,379			(752,147	)			(2,372,232	)			—
Correction of prior-period error – FPA subscription receivable discount			93,113			—				(93,113	)			—
Balance at January 1, 2025 (as restated)			101,998,956			(122,368,539	)			(2,545,586	)			(22,902,000	)
Net income			—			9,194,630				—				9,194,630
Balance at March 31, 2025			103,535,931			(113,173,909	)			(2,545,586	)			(12,183,292	)
Net loss			—			(2,113,859	)			—				(2,113,859	)
Balance at June 30, 2025			103,738,980			(115,287,768	)			(2,545,586	)			(14,094,102	)
Net loss			—			(4,092,145	)			—				(4,092,145	)
Balance at September 30, 2025			104,518,211			(119,379,913	)			(2,545,586	)			(17,407,000	)