v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,422,912 $ 417,353
Accounts receivable 22
Inventory, net 308,743 295,565
Other current assets 456,883 425,859
Total current assets 2,188,538 1,138,799
Intangible assets, net 16,983,329 19,226,003
Property and equipment, net 239,635 343,281
Other assets 149,983 163,025
Total assets 19,561,485 20,871,108
Current liabilities:    
Contract liabilities 350,000 350,000
Convertible notes payable 11,000,000
Loan payable 2,812,940
Accrued expenses and other current liabilities 2,114,560 728,683
Total current liabilities 16,277,500 1,078,683
Convertible notes payable - noncurrent 11,000,000
Other long-term liabilities 1,229,843
Total liabilities 16,277,500 13,308,526
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued and outstanding as of June 30, 2026 and December 31, 2025
Common stock, $0.01 par value; 300,000,000 shares authorized as of June 30, 2026 and December 31, 2025, 8,544,073 and 6,982,675 shares issued and 7,384,073 and 5,822,675 shares outstanding as of June 30, 2026, and December 31, 2025, respectively 85,441 69,827
Treasury stock, at cost (1,160,000 shares held as of June 30, 2026 and December 31, 2025) (1,972,000) (1,972,000)
Additional paid-in capital 79,982,981 77,234,374
Accumulated deficit (74,574,859) (67,520,328)
Accumulated other comprehensive loss (237,578) (249,291)
Total stockholders’ equity 3,283,985 7,562,582
Total liabilities and stockholders’ equity $ 19,561,485 $ 20,871,108