v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
CASH FLOW FROM OPERATING ACTIVITIES:              
Net loss $ (5,980,817) $ (6,854,231) $ (18,137,743) $ (5,059,256) $ (12,835,048) $ (23,196,999)  
Depreciation and amortization         248,685 72,875  
Non-cash, in-kind interest         1,922,818 984,576  
Deferred compensation in connection with Series A preferred shares         125,000 328,126  
Loss on debt extinguishment 171,755   11,817,991   1,075,328 12,317,785  
Loss on remeasurement and settlement of liabilities         783,868 2,579,509  
Loss on equity method investments         25,234  
Adjustments to reconcile net loss to cash (used in) operating activities:              
Accounts receivable         345,953 (338,073)  
Prepaid expense and other         810,893 (1,114,045)  
Inventory         968,787 929,010  
Lease deposits and other         (109,392) (19,266)  
Accounts payable         3,002,752 4,011,646  
Accrued expenses         1,124,001 140,489  
Accrued interest         (371,253)  
Deferred revenue         35,443 45,479  
Right-of-use lease liabilities         (16,982) (100,774)  
Net Cash Used in Operating Activities         (2,863,913) (3,359,662)  
CASH FLOW FROM INVESTING ACTIVITIES:              
Purchase of property and equipment         (42,272)  
Net Cash Provided by (Used in) Investing Activities         (42,272)  
CASH FLOW FROM FINANCING ACTIVITIES:              
Offering costs paid         (30,000) (380,251)  
Proceeds from loans - officer - related party         8,011 7,745  
Proceeds from working capital loans, net         1,223,690 6,639,026  
Repayments of working capital loans, net         (413,971) (180,320)  
Origination fees paid         (39,600)  
Payments on line of credit         (350,000)  
Proceeds from issuance of Series D preferred stock         525,000  
Proceeds from issuance of Common stock         2,500,000  
Net Cash Provided by Financing Activities         1,312,730 8,196,600  
CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH         (1,551,183) 4,794,666  
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD   $ 2,772,087   $ 287,546 2,772,087 287,546 $ 287,546
CASH AND CASH EQUIVALENTS AT END OF PERIOD 96,455   457,212   96,455 457,212 $ 2,772,087
RESTRICTED CASH AT END OF PERIOD 1,124,449   4,625,000   1,124,449 4,625,000  
TOTAL CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 1,220,904   $ 5,082,212   1,220,904 5,082,212  
Cash paid for:              
Interest         84,425 155,148  
Income taxes          
Non-cash operating activities:              
Prepaid expenses paid for with issuance of Company stock         814,630 1,410,000  
Liabilities settled with issuance of Company stock         1,279,042  
Non-cash financing activities:              
Debt converted to Company stock         $ 7,247,865