v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current Assets    
Cash and cash equivalents $ 1,973,420 $ 58,729
Deferred offering costs 137,792 75,082
Debt issuance costs – current 671,804 671,804
Prepaid expenses and other current assets 1,213,084 444,849
Prepaid expenses – related parties 194,180 138,247
Total Current Assets 4,190,280 1,388,711
Non-Current Assets    
Debt issuance costs – net of current portion 190,805 526,701
Right of use asset – operating lease 322,049 361,045
Intangible assets, net 481,481 500,000
Other assets 47,177 47,177
Total Assets 5,231,792 2,823,634
Current Liabilities    
Accounts payable 3,439,819 2,857,597
Accounts payable – related parties 435,655 515,664
Accrued advisory fee – related party 1,656,575 1,757,141
Accrued expenses – related parties 362,670 480,422
Accrued restricted stock tax withholdings obligations 9,452,272 2,769,482
Accrued expenses and other current liabilities 2,052,196 745,118
Litigation settlement payable 4,378,904 4,892,059
Derivative liability – Series A preferred 1,654,795
Convertible promissory notes, net of discount 5,952,066
Lease liability, current 73,669 71,131
Total Current Liabilities 23,506,555 20,040,681
Long Term Liabilities    
Lease liability, net of current portion 254,548 290,682
Total Liabilities 23,761,103 20,331,363
Stockholders’ Deficit:    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; 6,000 shares issued and outstanding as of June 30, 2026 and no shares issued and outstanding as of December 31, 2025 1
Additional paid in capital - preferred 3,134,003
Common stock, $0.0001 par value, 100,000,000 shares authorized; 25,933,365 and 21,990,688 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 2,594 2,198
Treasury stock, 1,079,543 shares and 302,766 shares of common stock at June 30, 2026 and December 31, 2025, respectively (7,921,738) (2,706,307)
Additional paid in capital 122,070,460 97,951,035
Accumulated deficit (135,814,631) (112,754,655)
Total Stockholders’ Deficit (18,529,311) (17,507,729)
Total Liabilities and Stockholders’ Deficit $ 5,231,792 $ 2,823,634