v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Sep. 30, 2025
OPERATING ACTIVITIES          
Net loss $ (10,104,135) $ (7,594,583) $ (25,800,580) $ (32,016,666) $ (40,067,076)
Adjustments to reconcile net loss to net cash used in operating activities:          
Equity-based compensation     7,026,936 17,454,842  
Amortization of right-of-use assets     262,369 214,228  
Amortization of intangible assets     53,851  
Accretion of deferred consideration 27,349 27,349  
Depreciation     721,000 147,853  
Changes in fair value of contingent liability 33,000 401,500 (871,000) 1,004,000  
Bank revaluation     16,752  
Unrealized gain on marketable securities (375,095) (195,225)  
Non-cash interest income on short-term investments     (306,952)  
Gain on settlement of accounts receivable (152,515)  
Change in assets and liabilities:          
Prepaid and other current assets     (2,446,736) (586,137)  
Deposits     (4,766) (384,000)  
Accounts receivable     10,467 (250,000)  
Accounts payable and accrued liabilities     3,282,453 (164,027)  
Due to related parties     16,667  
 Lease liabilities     (287,887) (150,269)  
Net cash used in operating activities     (18,664,484) (14,713,509) (19,621,963)
INVESTING ACTIVITIES          
Purchase of short-term investments, net of maturities     (281,212,550)  
Additions to property, plant and equipment     (9,827,509) (3,801,474)  
Deposits     (800,000)  
Acquisition of business, net of cash acquired     (5,776,308)  
In-process research and development     (9,075,045)  
Net cash used in investing activities     (297,616,367) (12,876,519)  
FINANCING ACTIVITIES          
Proceeds from common stock issuances     426,750,033 206,400,015  
Offering costs     (22,674,963) (15,076,556)  
Proceeds from exercise of warrants     2,473,548 15,657,187  
Proceeds from exercise of stock options     4,650,000 2,284,500  
Deferred Financing Costs     300,000  
Net cash provided by financing activities     411,498,618 209,265,146  
Net increase (decrease) in cash and cash equivalents     95,217,767 181,675,118  
Cash and cash equivalents, beginning of period     203,265,052 28,507,257 28,507,257
Effect of exchange rate changes on cash     (11,212)  
Cash and cash equivalents, end of period $ 298,471,607 $ 210,182,375 298,471,607 210,182,375 $ 203,265,052
Non-cash transactions:          
Common stock issued as business acquisition consideration     1,031,270  
Deferred business acquisition stock consideration payable     3,312,127  
Right-of-use assets acquired in business acquisition     330,154  
Inception of Right-of-Use Asset / Liability     1,026,348  
Supplemental disclosures of cash flow information          
Cash paid for income taxes     $ 1,755,746 $ 56,717