v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Dec. 31, 2024
Current assets      
Cash and cash equivalents $ 8,267,110 $ 24,661,284 $ 209,337
Restricted cash 875,141 875,141 0
Subscription for Orbit shares (related party)   11,778,600  
Inventories, net of reserve of nil and $1,161,469 at December 31, 2025 and 2024, respectively 293,499   1,526,467
Advance on Tekne Convertible Receivable   1,179,686  
Prepaid expenses and other current assets (including $233,498 and nil with related parties, respectively) 3,688,148 1,621,303 162,749
Total current assets 35,693,910 45,784,559 1,898,553
Accounts Receivable, after Allowance for Credit Loss, Current 201,571 0 0
Tekne Convertible Note Receivable 20,417,810    
Property and equipment, net 10,955   4,834,729
Operating lease right-of-use assets     202,411
Other assets 68,367   34,359
Total Assets 76,148,310 49,819,239 6,970,052
Goodwill 19,262,851  
Intangible assets subject to amortization, net 2,799,968    
Investments at fair value 12,664,441    
Current liabilities      
Accounts payable 2,644,691 2,130,686 6,301,310
Accrued expenses 7,526,946 3,276,794 4,301,195
Current portion of notes payable (including nil and $8,130,638 with related parties, respectively)   25,874,146 9,242,183
Shareholder advances 99,936 99,936 644,936
Claims settlement liability   5,575  
Current portion of operating lease liability 45,244   237,369
Contract liabilities 428,346 0 24,000
Convertible note derivative liability     37,900
Preferred stock liability 13,439,670 21,889,050  
Total current liabilities 63,384,589 61,402,511 20,788,893
Current portion of debt 39,673,346 25,874,146  
SEPA liability 2,994,500 3,201,500  
Warrant liabilities 5,617,340 397,401 128,615
TOTAL LIABILITIES 73,047,738 65,001,412 20,917,508
Commitments and Contingencies (Note 7)
Convertible preferred stock, $0.0001 par value; 50,000,000 shares authorized; 2,188,905 and 2,388,905 shares issued and outstanding at December 31, 2025 and 2024 928,000 0 [1] 23,889,050 [1]
Stockholders' Deficit      
Common Stock, $0.0001 par value; 900,000,000 shares authorized; 92,816,561 and 4,062,974 shares issued and outstanding at December 31, 2025 and 2024, respectively 15,459 9,282 [2] 406 [2]
Additional paid-in capital 203,069,515 185,288,376 [2] 93,969,693 [2]
Accumulated deficit (200,939,729) (200,479,831) (131,806,605)
Total Stockholders' Deficit 2,172,572 (15,182,173) (37,836,506)
Accumulated other comprehensive income 27,327    
Total liabilities and stockholders' deficit 76,148,310 49,819,239 6,970,052
Contingent consideration (including $482,916 and nil with related parties, respectively) 625,491    
Deferred tax liability 173,351    
Other liabilities 252,467    
Previously Reported [Member]      
Current liabilities      
Accrued expenses   3,271,219  
Related Party [Member]      
Current assets      
Subscription for Orbit shares (related party)   11,778,600  
SYME inventory advance (related party)   5,668,545  
Prepaid expenses and other current assets (including $233,498 and nil with related parties, respectively) 1,772,288 233,498 0
SYME Convertible Note Receivable (related party) 1,950,631    
Equity method investment (related-party)   949,806  
Deposit on acquisition (related party)   733,272  
Convertible note receivable (related party)   2,351,602  
SYME Bonds (related-party) 5,647,818    
SYME Convertible Note Receivable (related party)   2,351,602  
Current liabilities      
Accounts payable 97,219 0  
Accrued expenses $ 2,474,831 0  
Current portion of notes payable (including nil and $8,130,638 with related parties, respectively)   0 $ 8,130,638
Preferred obligation related to Orbit Transaction (related party)   $ 8,131,899  
[1] As of December 31, 2025, the value of the convertible preferred stock is presented within preferred stock liability. For additional information, see Note 10.
[2] Amounts for the periods presented have been adjusted to reflect the 1-for-4.99 February 2026 Reverse Stock Split, as defined and further described in Note 2.