v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities        
Net income (loss) - before noncontrolling interest (“NCI”) $ (6,598) $ (12,324) $ (7,662) $ 6,300
Adjustments to reconcile net income (loss) - before NCI to net cash used in operating activities        
Depreciation and amortization expense     39 65
Stock-based compensation     1,099 1,092
Change in fair value - equity method investment 2,504 10,643 626 (10,361)
Issuance of stock for services     1,951 103
Change in fair value - Senior Secured Convertible Notes 565 200 (2,795) 249
Change in fair value - warrant liability (0) (0) (1,831) (0)
Debt extinguishment loss - Senior Secured Convertible Note 0 0 3,422 58
Non-cash lease expense     (14) (6)
Changes in operating assets and liabilities:        
Accounts receivable     (1) 15
Prepaid expenses, deposits and current and other assets     (417) (259)
Accounts payable     378 (268)
Accrued expenses and other current liabilities     (24) 253
Net cash flows used in operating activities     (5,283) (2,759)
Cash flows from investing activities        
Purchase of equipment     (35) (14)
Net cash flows used in investing activities     (35) (14)
Cash flows from financing activities        
Proceeds – issue of Series D Preferred Stock, net of financing fees     29,910 0
Proceeds - Senior Secured Convertible Note (February 2026)     15,000 0
Payment - Senior Secured Convertible Note (September 2022)     (11,149) 0
Payment - Series C Preferred Stock     (26,197) 0
Proceeds – issue of common stock and pre-funded warrants, net of financing fees     0 2,370
Proceeds – issue of common stock - subsidiary     0 2,490
Payment – financing costs – debt exchange     0 (109)
Net cash flows provided by financing activities     7,564 5,592
Net increase in cash     2,246 2,819
Cash, beginning of period     1,538 1,185
Cash, end of period 3,784 4,004 3,784 4,004
At-The-Market Facility [Member]        
Cash flows from financing activities        
Proceeds – issue of common stock - subsidiary     0 841
Rights Liability [Member]        
Adjustments to reconcile net income (loss) - before NCI to net cash used in operating activities        
Change in fair value - rights liability $ (24) $ 0 $ (54) $ 0