Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | 8. Related Party Transactions
The principal members of the Company have a controlling interest in Point 1286, a company organized and based in the United States and is the sole owner of MDB Capital, S.A., a company organized and based in Nicaragua , that provides outsourced services to the Company and other non-related entities. During the six months ended June 30, 2026 and 2025, the Company paid $961 thousand and $929 thousand, respectively, which is inclusive of expenses and fees, for contracted labor, recorded against general and administrative expenses.
During the six months ended June 30, 2026 and 2025, PatentVest, a 100% entity owned the Company, engaged in transactions with Paulex on Nasdaq, a company for which one of our executive officers, Mohammad Hayat, our Chief Legal Officer, serves as a board member as well as Edgardo Rayo. For the six months ended June 30, 2026 there were $13 thousand of financial transactions and for the six months ended June 30, 2025, there were no financial transactions recognized between the MDB Capital entities and Paulex.
During the six months ended June 30, 2026 and 2025, PatentVest, a 100% entity owned by the Company, engaged in transactions with eXoZymes and recognized revenues of $64 thousand and $69 thousand, respectively.
During the six months ended June 30, 2026 and 2025, Public Ventures, a 100% entity owned by the Company, engaged in transactions with eXoZymes and recognized revenues of $592 thousand and $0, respectively.
During the six months ended June 30, 2026, the Company recorded related party receivables totaling $41 thousand, for services performed by PatentVest on behalf of eXoZymes and other expenses owed to CG Management that was paid on behalf of eXoZymes. During the six months ended June 30, 2025, the Company recorded related party receivables totaling $54 thousand, this amount is for services performed by PatentVest on behalf of eXoZymes. Additionally, the Company recorded accrued expenses of $18 thousand payable to officers and directors, representing reimbursable expenses incurred in the ordinary course of business. All transactions were conducted on an arm’s-length basis and are expected to be settled in the normal course of operations.
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