Liquidity and Management Plans	6 Months Ended
Jun. 30, 2026
Liquidity and Management Plans
Liquidity and Management Plans	Note 2 – Liquidity and Management Plans During the three and six months ended June 30, 2026, the Company generated revenue of $3.1  million and $6.2 million, respectively, and incurred net losses of $2.9 million and $4.6 million, respectively. During the three and six months ended June 30, 2025, the Company generated revenue of $1.0  million and $1.3 million, respectively, and incurred net losses of $2.8 million and $6.2 million, respectively. Net cash used in operating activities was $10.9 million and $7.5 million for the six months ended June 30, 2026 and 2025, respectively. As of June 30, 2026, the Company had cash on hand of $31.2 million. Based upon its cash on hand as of June 30, 2026 and anticipated collection of accounts receivable, the Company is currently meeting its liquidity requirements. In accordance with Accounting Standards Codification (“ASC”) 205-40, Presentation of Financial Statements—Going Concern, management has evaluated whether conditions or events, considered in the aggregate, raise questions about the Company’s ability to continue as a going concern within one year after the date the financial statements are issued. Based on current operating levels and existing cash balances, management believes that the Company has sufficient liquidity to fund operations for at least the next twelve months. As the Company gains traction in the market with its new technology and continues to invest capital in transitioning and scaling the business from research and development of new technologies to commercial production, there can be no assurance that its available resources and revenue generated from its business operations will be sufficient to sustain its operations, as adoption of this emerging technology by enterprise customers may take longer than expected. Accordingly, the Company may decide to pursue additional financing, which could include offerings of equity or debt securities, bank financing, commercial agreements with customers or strategic partners, and other alternatives, depending upon market conditions. There is no assurance that such financing will be available on terms that the Company would find acceptable, or at all. If the Company is unsuccessful in implementing this plan, the Company will be required to make further cost and expense reductions or modifications to its on-going operations and strategic plans. The market for products using the Company’s technology is broad and evolving, so the Company’s success is dependent upon many factors, including customer acceptance of its existing products, technical feasibility of future products, regulatory approvals, the development of complementary technologies, competition and global market fluctuations.

Liquidity and Management Plans

6 Months Ended

Jun. 30, 2026

Note 2 – Liquidity and Management Plans

During the three and six months ended June 30, 2026, the Company generated revenue of $3.1  million and $6.2 million, respectively, and incurred net losses of $2.9 million and $4.6 million, respectively. During the three and six months ended June 30, 2025, the Company generated revenue of $1.0  million and $1.3 million, respectively, and incurred net losses of $2.8 million and $6.2 million, respectively. Net cash used in operating activities was $10.9 million and $7.5 million for the six months ended June 30, 2026 and 2025, respectively.

As of June 30, 2026, the Company had cash on hand of $31.2 million. Based upon its cash on hand as of June 30, 2026 and anticipated collection of accounts receivable, the Company is currently meeting its liquidity requirements.

In accordance with Accounting Standards Codification (“ASC”) 205-40, Presentation of Financial Statements—Going Concern, management has evaluated whether conditions or events, considered in the aggregate, raise questions about the Company’s ability to continue as a going concern within one year after the date the financial statements are issued. Based on current operating levels and existing cash balances, management believes that the Company has sufficient liquidity to fund operations for at least the next twelve months.

As the Company gains traction in the market with its new technology and continues to invest capital in transitioning and scaling the business from research and development of new technologies to commercial production, there can be no assurance that its available resources and revenue generated from its business operations will be sufficient to sustain its operations, as adoption of this emerging technology by enterprise customers may take longer than expected. Accordingly, the Company may decide to pursue additional financing, which could include offerings of equity or debt securities, bank financing, commercial agreements with customers or strategic partners, and other alternatives, depending upon market conditions. There is no assurance that such financing will be available on terms that the Company would find acceptable, or at all. If the Company is unsuccessful in implementing this plan, the Company will be required to make further cost and expense reductions or modifications to its on-going operations and strategic plans.

The market for products using the Company’s technology is broad and evolving, so the Company’s success is dependent upon many factors, including customer acceptance of its existing products, technical feasibility of future products, regulatory approvals, the development of complementary technologies, competition and global market fluctuations.