SAFE Notes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| SAFE Notes | |
| SAFE Notes | Note 4: SAFE Notes During the six months ended June 30, 2025, the Company issued SAFE Notes in exchange for an aggregate amount of $1,644. The Company received total cash proceeds during the period of $1,711, consisting of $1,644 of cash from the issuance of SAFE Notes and $67 of cash received from the subscription of a SAFE Note. As of June 30, 2025, the estimated fair value of the SAFE Notes totaled $15,546. Prior to completion of the Merger, each SAFE Note holder gave consent to convert into shares of the Company’s common stock at the valuation cap reflected in each SAFE Note. In connection with the Merger, all SAFE Notes converted into 19,601,182 shares of the Company’s common stock, and the Company recorded a loss from the change in fair value on the date of conversion of approximately $39,834. In May 2026, the Company issued 188,701 shares of its common stock to former holders of our previously issued SAFE Notes, as previously agreed upon. The issuance related to the Company’s September 2025 financing activity and, in connection with this issuance, the investors executed settlement agreements releasing the Company from any potential future claims related to the conversion of the SAFE Notes. There were no issuances of SAFE Notes, nor any subscriptions of SAFE Notes, during the six months ended June 30, 2026. |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|