v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
Series A Preferred Stock
Preferred Stock
Common Stock
Stock options
Common Stock
Additional Paid-In Capital
Restricted common stock and other common stock compensation
Additional Paid-In Capital
Stock options
Additional Paid-In Capital
Treasury Stock
Accumulated Deficit
Stock options
Accumulated Deficit
Restricted common stock and other common stock compensation
Stock options
Total
Balance at beginning at Dec. 31, 2024 $ 73   $ 3,310     $ 141,532,047 $ (296,222)   $ (83,811,223)     $ 57,427,985
Balance at beginning (in shares) at Dec. 31, 2024 730,000   33,100,207                  
Treasury stock beginning (in shares) at Dec. 31, 2024             16,395          
Preferred stock issued for no consideration $ 27         (27)            
Preferred stock issued for no consideration (in shares) 270,000                      
Shares returned to treasury for employee payroll tax obligations             $ (63,332)         (63,332)
Shares returned to treasury for employee payroll tax obligations (in shares)             3,442          
Common stock issued upon the exercise of options           7,565           7,565
Common stock issued upon the exercise of options (in shares)     1,063                  
Common stock issued for at the market offering [1]     $ 243     49,642,687           49,642,930
Common stock issued for at the market offering (in shares) [1]     2,425,959                  
Shares withheld for employee payroll tax obligations     $ (1)     (145,790)           (145,791)
Shares withheld for employee payroll tax obligations (in shares)     (12,483)                  
Common stock issued upon vesting of restricted stock units     $ 6     (6)            
Common stock issued upon vesting of restricted stock units (in shares)     62,610                  
Common stock issued for services   $ 1     $ 82,039           $ 82,040  
Common stock issued for services (in shares)   7,625                    
Amortization of restricted common stock           1,518,895           1,518,895
Amortization of stock options           15,604           15,604
Net income (loss)                 (18,806,658)     (18,806,658)
Balance at ending at Mar. 31, 2025 $ 100   $ 3,559     192,653,014 $ (359,554)   (102,617,881)     89,679,238
Balance at ending (in shares) at Mar. 31, 2025 1,000,000   35,584,981                  
Treasury stock, Ending (in shares) at Mar. 31, 2025             19,837          
Balance at beginning at Dec. 31, 2024 $ 73   $ 3,310     141,532,047 $ (296,222)   (83,811,223)     57,427,985
Balance at beginning (in shares) at Dec. 31, 2024 730,000   33,100,207                  
Treasury stock beginning (in shares) at Dec. 31, 2024             16,395          
Net income (loss)                       (10,664,509)
Balance at ending at Jun. 30, 2025 $ 100   $ 3,948     231,315,144 $ (393,744)   (94,475,732)     136,449,716
Balance at ending (in shares) at Jun. 30, 2025 1,000,000   39,475,214                  
Treasury stock, Ending (in shares) at Jun. 30, 2025             21,922          
Balance at beginning at Mar. 31, 2025 $ 100   $ 3,559     192,653,014 $ (359,554)   (102,617,881)     89,679,238
Balance at beginning (in shares) at Mar. 31, 2025 1,000,000   35,584,981                  
Treasury stock beginning (in shares) at Mar. 31, 2025             19,837          
Shares returned to treasury for employee payroll tax obligations             $ (34,190)         (34,190)
Shares returned to treasury for employee payroll tax obligations (in shares)             2,085          
Common stock issued upon the exercise of options           3,250           3,250
Common stock issued upon the exercise of options (in shares)     625                  
Common stock issued for at the market offering [2]     $ 383     37,249,626           37,250,009
Common stock issued for at the market offering (in shares) [2]     3,832,456                  
Shares withheld for employee payroll tax obligations     $ (1)     (114,548)           (114,549)
Shares withheld for employee payroll tax obligations (in shares)     (11,625)                  
Common stock issued upon vesting of restricted stock units     $ 7     (7)            
Common stock issued upon vesting of restricted stock units (in shares)     67,341                  
Common stock issued for services           13,530           13,530
Common stock issued for services (in shares)     1,375                  
Amortization of restricted common stock           1,498,937           1,498,937
Amortization of stock options           11,342           11,342
Effect of reverse stock split     61                  
Net income (loss)                 8,142,149     8,142,149
Balance at ending at Jun. 30, 2025 $ 100   $ 3,948     231,315,144 $ (393,744)   (94,475,732)     136,449,716
Balance at ending (in shares) at Jun. 30, 2025 1,000,000   39,475,214                  
Treasury stock, Ending (in shares) at Jun. 30, 2025             21,922          
Balance at beginning at Dec. 31, 2025 $ 100   $ 4,606     267,712,241 $ (393,744)   (145,711,005)     $ 121,612,198
Balance at beginning (in shares) at Dec. 31, 2025 1,000,000   46,063,172                  
Treasury stock beginning (in shares) at Dec. 31, 2025             21,922         21,922
Shares withheld for employee payroll tax obligations     $ (11)     (375,987)           $ (375,998)
Shares withheld for employee payroll tax obligations (in shares)     (112,824)                  
Common stock issued upon vesting of restricted stock units     $ 33     (33)            
Common stock issued upon vesting of restricted stock units (in shares)     328,739                  
Amortization of stock options       $ 1,446,613 $ 12,865         $ 1,446,613 12,865  
Net income (loss)               $ (29,019,844)     $ (29,019,844) (29,019,844)
Balance at ending at Mar. 31, 2026 $ 100   $ 4,628     268,795,699 $ (393,744)   (174,730,849)     93,675,834
Balance at ending (in shares) at Mar. 31, 2026 1,000,000   46,279,087                  
Treasury stock, Ending (in shares) at Mar. 31, 2026             21,922          
Balance at beginning at Dec. 31, 2025 $ 100   $ 4,606     267,712,241 $ (393,744)   (145,711,005)     $ 121,612,198
Balance at beginning (in shares) at Dec. 31, 2025 1,000,000   46,063,172                  
Treasury stock beginning (in shares) at Dec. 31, 2025             21,922         21,922
Net income (loss)                       $ (50,990,660)
Balance at ending at Jun. 30, 2026 $ 100   $ 4,629     269,665,057 $ (393,744)   (196,701,665)     $ 72,574,377
Balance at ending (in shares) at Jun. 30, 2026 1,000,000   46,293,969                  
Treasury stock, Ending (in shares) at Jun. 30, 2026             21,922         21,922
Balance at beginning at Mar. 31, 2026 $ 100   $ 4,628     268,795,699 $ (393,744)   (174,730,849)     $ 93,675,834
Balance at beginning (in shares) at Mar. 31, 2026 1,000,000   46,279,087                  
Treasury stock beginning (in shares) at Mar. 31, 2026             21,922          
Shares withheld for employee payroll tax obligations     $ (1)     (38,685)           (38,686)
Shares withheld for employee payroll tax obligations (in shares)     (10,117)                  
Common stock issued upon vesting of restricted stock units     $ 2     (2)            
Common stock issued upon vesting of restricted stock units (in shares)     24,999                  
Amortization of restricted common stock           900,080           900,080
Amortization of stock options           7,965           7,965
Net income (loss)                 (21,970,816)     (21,970,816)
Balance at ending at Jun. 30, 2026 $ 100   $ 4,629     $ 269,665,057 $ (393,744)   $ (196,701,665)     $ 72,574,377
Balance at ending (in shares) at Jun. 30, 2026 1,000,000   46,293,969                  
Treasury stock, Ending (in shares) at Jun. 30, 2026             21,922         21,922
[1] Represents gross proceeds of $51,152,353, less issuance costs of $1,509,423.
[2] Represents gross proceeds of $38,331,721, less issuance costs of $1,081,712.