v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (6,127,290) $ (3,679,090)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accrued interest 3,409 6,107
Change in fair value of liability classified warrants (9,063)
Consultant compensation 646,310 106,889
Stock-based compensation 10,613 203,014
Depreciation expense 13,066
Changes in operating assets and liabilities:    
Unbilled receivable 3,534 (1,080,864)
Prepaid expenses and other assets 1,041,798 1,185
Accounts payable (1,355,046) (314,247)
Accrued expenses and other liabilities 300,223 351,789
Net cash used in operating activities (5,463,383) (4,414,280)
Cash flows from financing activities:    
Proceeds from issuance of Series B Preferred Stock 2,000,000
Transaction costs associated with Series B Preferred Stock issuance (106,320)
Proceeds from public offerings 1,100,007
Proceeds from warrant exercises, net of issuance costs 390,855
Proceeds from warrant inducement, net of issuance costs 2,200,012
Transaction costs from public offerings (204,193)
Transaction costs associated with warrant inducements (291,611)
Repayment of convertible notes
Repayment of financed insurance premiums (63,947) (71,292)
Net cash provided by financing activities 1,829,733 3,123,778
Decrease in cash and cash equivalents (3,633,650) (1,290,502)
Cash and cash equivalents beginning of period 4,310,354 3,502,077
Cash and cash equivalents end of period 676,704 2,211,575
Supplemental disclosure of non-cash financing activities:    
Conversions of 2023 Notes into common stock 246,169
Transaction costs associated with Series B Preferred Stock under accounts payable and accrued expenses 65,065
Incremental fair value of April 2025 Warrant Inducement 3,483,420
Financed insurance premiums 196,842 188,046
Transaction costs from public offerings $ 5,410