v3.26.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Cash and cash equivalents $ 6,968 $ 7,958
Prepaid expenses and other current assets 1,127 717
Total current assets 8,095 8,675
Digital assets, at fair value 119,242 0
Other assets 177 360
TOTAL ASSETS 127,514 9,035
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)    
Accounts payable 0 257
Accrued liabilities 270 396
Unsecured Convertible Notes, net of discounts 0 67
Operating lease liabilities 0 422
Total current liabilities 270 1,142
Warrant liabilities, at fair value 0 639,071
Operating lease liabilities-non-current 0 287
Total liabilities 270 640,500
Commitments and Contingencies  
Stockholders’ equity (deficit):    
Common stock, $0.01 par value; 5,000,000,000 shares authorized, 50,590,723 and 25,216,436 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively [1] 506 252
Additional paid-in capital [1] 434,459 186,981
Accumulated deficit (307,721) (819,054)
Total stockholders’ equity (deficit) 127,244 (631,815)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) 127,514 9,035
Series F Preferred Stock [Member]    
Mezzanine (temporary) equity:    
Preferred stock, $0.01 par value; 5,000 shares authorized; Series F Preferred Stock; 0 and 1,347 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 0 350
Series B Preferred Stock [Member]    
Stockholders’ equity (deficit):    
Preferred stock, $0.01 par value; 5,000,000 shares authorized; Series B Preferred Stock; 0 and 131 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively $ 0 $ 6
[1] After giving retroactive effect to a 1-for-5 reverse stock split that became effective February 20, 2026.