v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Cash Flows Used In Operating Activities            
Net Loss     $ (14,700,019) $ (16,303,881)    
Non-Cash Adjustments            
Depreciation and Amortization     979,563 1,409,210    
Stock-Based Compensation     1,292,914 3,725,755    
(Increase) Decrease in Operating Assets            
Accounts Receivable     527,872 394,599    
Accrued Revenues in Excess of Billings     36,463 289,833    
Other Receivables     283,821      
Inventories     430,860 1,506,916    
Manufacturing Vendor Prepayments     (86,204) 159,713    
Prepaid Expenses and Other Assets     299,558 318,091    
Increase (Decrease) in Operating Liabilities            
Accounts Payable     760,164 69,017    
Accrued Expenses     (2,017,487) 182,567    
Unearned Revenue     14,116 (32,874)    
Income and Other Taxes Payable     26,548 39,242    
Net Cash Flows Used in Operating Activities     (12,151,830) (8,241,812) $ (18,789,272) $ (23,739,372)
Cash Flows Used in Investing Activities            
Purchases of Fixed Assets     (1,213,562) (1,340,873)    
Investments in Patents and Trademarks     (323,910) (241,068)    
Investments in Other Equity Assets       (50,000)    
Net Cash Flows Used in Investing Activities     (1,537,472) (1,631,941)    
Cash Flows Provided by (Used in) Financing Activities            
Proceeds from Sale of Preferred and Common Stock to Quanta       5,000,000    
Proceeds from Exercise of Stock Options       51,982    
Proceeds from ATM Program, Net     9,914,210 4,089,850    
Net Cash Flows Provided by (Used in) Financing Activities     9,836,786 9,141,832    
Net Increase (Decrease) in Cash and Cash Equivalents     (3,852,516) (731,921)    
Cash and Cash Equivalents - Beginning of Period     21,150,213 18,186,506 18,186,506  
Cash and Cash Equivalents - End of Period $ 17,297,697 $ 17,454,585 17,297,697 17,454,585 $ 21,150,213 $ 18,186,506
Supplemental Disclosures            
Accrued Preferred Dividends included in Accrued Expenses     37,500 3,493    
Depreciation and Amortization included in Research and Development Expense     589,981 246,498    
Purchases of Fixed Assets included in Accrued Expenses     164,481 937,336    
Series B Preferred Stock            
Cash Flows Provided by (Used in) Financing Activities            
Preferred Dividends Paid $ (37,500) $ 0 $ (77,424) $ 0