v3.26.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (4,779) $ (591)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 113 54
Stock compensation expense 141 129
Loss on sale of crypto assets 244 0
Unrealized loss on crypto assets 875 0
Unrealized loss on short-term investment 0 31
Change in operating assets and liabilities net of effect of acquisitions:    
Accounts receivable, net (37) (699)
Prepayments and other current assets (69) (55)
Contractual right to offset 13 86
Accounts payable 1,590 278
Accrued liabilities (30) (3)
Deferred cost-contract liability (13) (86)
Unearned revenue (47) 691
Net cash used in operating activities (1,999) (165)
Cash flows from investing activities    
Proceeds from sale of crypto assets 10,220 0
Proceed from issuance of SAFE notes payable 0 600
Capitalized platform development cost (299) (133)
Related party notes receivable principal receipt 41 0
Investment in related party common stocks (10,000) 0
Net cash provided by (used in) investing activities (38) 467
Cash flows from financing activities    
Proceeds from March 2026 financing 2,000 0
Repayment of debt 0 0
Proceeds from issuance of SAFE notes payable 0 0
Issuance of stock, net 0 0
Net cash provided by financing activities 2,000 0
Net increase (decrease) in cash and cash equivalents (37) 302
Cash and cash equivalents – beginning of period 534 8
Cash and cash equivalents – end of period 497 310
Supplemental disclosure of cash flow information    
Cash paid for interest 0 0
Cash paid for taxes 0 0
Supplemental disclosure of non-cash activities    
USDC investment 300 0
Settlement of accounts payable with USDC $ 1,453 $ 0