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Note 2 - Going Concern
6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Substantial Doubt about Going Concern [Text Block]

NOTE 2: GOING CONCERN

 

As of  June 30, 2026, the Company had cash on hand of $9,226, an accumulated deficit of $115,558 and negative cash flow from operating activities for the six months ended June 30, 2026, of $3,698. Further, the Company has recurring losses with insufficient revenue from operations and expects to continue generating losses and using cash for operations. The Company's cash requirements have been met through the sales of common stock, issuance of debt and warrant exercises.

 

Notwithstanding the Company's cash on hand as of June 30, 2026, the Company's recurring losses, negative cash flows from operating activities, and revenue that remains insufficient to cover operating costs raise substantial doubt about the Company's ability to continue as a going concern within one year after the date these financial statements are issued. The Company expects to continue to require substantial additional capital beyond the near term to fund its operations, achieve profitability, and execute its business strategy. Therefore, the Company may be unable to realize its assets and discharge its liabilities in the normal course of business.

 

Management has a reasonable expectation that it can continue raising additional capital to fund its operations for the foreseeable future. During the six months ended June 30, 2026, the Company raised $10,277 in gross proceeds through the Initial Closing and Additional Closing of the March 2026 private placement of units and the exercise of warrants (see Note 13 — Equity). In addition, on February 3, 2026, the Company entered into an At the Market Offering Agreement (the "ATM Agreement") with Konik Capital Partners, LLC, a division of T.R. Winston and Company, LLC, under which the Company may offer and sell shares of common stock having an aggregate sales price of up to $7,434; as of June 30, 2026, no shares had been sold under the ATM Agreement.

 

The Company's ability to raise additional funds, including under the ATM Agreement, will depend on, among other factors, financial, economic and market conditions and investor demand, many of which are outside of the Company's control, and there can be no assurance that the Company will be able to obtain additional funding on satisfactory terms, or at all. Because critical elements of these plans are not within management's control, management does not consider them probable of being effectively implemented such that they would alleviate the substantial doubt described above. Accordingly, management has concluded that substantial doubt about the Company's ability to continue as a going concern within one year after the date these financial statements are issued has not been alleviated.