Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Note 8. Subsequent Events
The Company has evaluated subsequent events from the balance sheet date through August 4, 2026, the issuance date of these unaudited condensed consolidated financial statements, and has not identified any requiring disclosure except as noted below.
Stock Option Grants
On July 11, 2026, the Board of Directors approved grants of time-based and performance-based stock options under the Company’s 2025 Stock Incentive Plan. The options have an exercise price of $ per share, equal to the fair market value of the Company’s common stock at the grant date as determined by the Board, and a term of . Time-based options covering shares vest over with a one-year cliff. Performance-based options covering shares vest only upon the Company’s completion of a qualifying strategic acquisition (the “Acquisition Milestone”) by the end of calendar year 2026, followed by monthly service vesting over twelve months. Because the grant date occurred subsequent to June 30, 2026, no share-based compensation expense related to these awards is reflected in the Company’s condensed consolidated financial statements for the quarter ended June 30, 2026.
Acquisition of Vega Links, Inc.
On July 30, 2026, the Board of Directors approved the acquisition of Vega Links, Inc. (“Vega Links”). Under the terms of the agreement, the Company will issue shares of its common stock as consideration for the net assets of Vega links. No amounts related to the acquisition are reflected in the Company’s condensed consolidated financial statements for the quarter ended June 30, 2026. The accounting assessment for this transaction is still underway as of the date of this filing.
New Lease
On July 14, 2026, the Board of Directors approved the execution of a lease for office and technical space in California. The lease was signed in July 2026. The Company expects to recognize a right-of-use asset and a corresponding lease liability upon commencement of the lease under ASC 842. Because the lease was entered into subsequent to June 30, 2026, no right-of-use asset or lease liability related to this lease is reflected in the Company’s condensed consolidated financial statements for the quarter ended June 30, 2026. |