v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:        
Net loss $ (2,453) $ (1,902) $ (2,801) $ (10,129)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 11 12 65 57
Stock-based compensation expense 431 208 2,032 628
Stock warrant expense     35
Change in fair value of warrant liabilities (16) 3 56 (9)
Change in fair value of convertible notes (163) (1,285) 808
Change in fair value of crypto assets – Bitcoin (102) 662 945 (798)
Change in fair value of SEPA derivative liabilities (179) (324) (216) 434
Realized gain on sale of crypto assets – Bitcoin 188 (531) (922) (120)
Gain on troubled debt restructurings     (5,569)
Loss on debt extinguishment     41
Non-cash SEPA commitment fee     500
Gain on forgiveness of CEBA loan     (15)
Non-cash interest 25 45 121
Change in operating assets and liabilities:        
Accounts receivable (202) (34) (282) (61)
Prepaid expenses and other current assets 45 (62) 194 84
Accounts payable and accrued expenses 445 310 366 1,206
Deferred revenues 290 (58) (172) 307
Net cash used in operating activities (1,542) (1,854) (7,503) (6,952)
Cash flows from investing activities:        
Purchases of property and equipment (2) (5) (13) (51)
Purchases of crypto assets – Bitcoin     (2,750) (2,900)
Proceeds from sales of crypto assets – Bitcoin 354 1,925 5,070 969
Net cash provided by (used in) investing activities 352 1,920 2,307 (1,982)
Cash flows from financing activities:        
Proceeds from private placements, net of issuance costs     2,497 6,270
Proceeds from Yorkville SEPA 475 2,537
Proceeds from related party subscription agreements, net of issuance costs 500 1,697
Proceeds from exercises of Helena Termination Warrants     60
Repayment of deferred underwriter fees     (500) (100)
Repayment of Yorkville Note     (262)
Repayment of loans payable (137) (94) (401) (231)
Payment of issuance costs in connection with non-cash conversions of liabilities     (19)
Proceeds from issuance of shareholder loans     2,000
Proceeds from issuance of Yorkville Note, net of issuance costs     1,350
Proceeds from line of credit borrowings     500
Repayment of CEBA loan     (30)
Repayment of shareholder loan     (200)
Repayment of line of credit borrowings     (500)
Net cash provided by financing activities 838 (94) 5,609 9,059
Net increase in cash and cash equivalents (352) (28) 413 125
Cash and cash equivalents at beginning year 585 172 172 47
Cash and cash equivalents at end of year 233 144 585 172
Supplemental disclosure of cash flow information:        
Cash paid for interest 10 5 23 26
Cash paid for taxes 1 1 18
Supplemental disclosures of non-cash investing and financing activities:        
Issuance of common stock upon partial conversions of Yorkville Note $ 1,094 1,392
Issuance of common stock in connection with settlement of vendor payable     111 242
Issuance of common stock upon conversions of loans with related parties     2,334
Issuance of common stock upon conversion of PIPE Notes     510
Issuance of common stock upon conversion of loan extensions with related parties     2,584
Insurance premium settled by issuance of note payable     317 318
Common stock repurchase consideration in loans payable     312 329
Common shares issued to partially settle deferred underwriter fees     242
Recognition of prepaid forward contract in exchange for partial conversion of Yorkville Note     343
Extinguishment of officer accrued salaries reclassified to additional paid-in capital     $ 132