v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUES:        
Revenues from TAO staking $ 88,626 $ 3,962 $ 477,400 $ 3,962
OPERATING EXPENSES:        
Research and development 31,855 148,555 60,455 209,371
General and administrative 1,626,007 2,191,395 3,303,945 3,199,744
Warrant issuance costs   699,845   699,845
TOTAL OPERATING EXPENSES 1,657,862 3,039,795 3,364,400 4,108,960
OPERATING LOSS (1,569,236) (3,035,833) (2,887,000) (4,104,998)
OTHER EXPENSE:        
Interest income 25,255 152,798 60,734 335,132
Unrealized loss on digital assets (8,437,115) (14,368) (1,595,178) (14,368)
Change in fair value of Yuma partnership investments (318,870)   31,870  
Change in fair value of warrant liability 6,000 (14,515,675) 0 (13,164,675)
Change in fair value of derivative liability 995,000 (103,000) (655,000) (182,000)
TOTAL OTHER EXPENSE (7,729,730) (14,480,245) (2,157,574) (13,025,911)
Net loss before income taxes (9,298,966) (17,516,078) (5,044,574) (17,130,909)
Provision for income taxes 0 0 0 0
Net loss (9,298,966) (17,516,078) (5,044,574) (17,130,909)
Preferred Stock dividends 201,045 102,739 404,429 204,142
Deemed dividend on Series E Warrants 4,158,000   4,158,000  
Net loss attributable to common stockholders $ (13,658,011) $ (17,618,817) $ (9,607,003) $ (17,335,051)
PER SHARE DATA:        
Basic loss per common share (in dollars per share) $ (1.83) $ (11.26) $ (1.29) $ (11.75)
Fully diluted loss per common share (in dollars per share) $ (1.83) $ (11.26) $ (1.29) $ (11.75)
Basic weighted average common shares outstanding (in shares) 7,472,200 1,565,200 7,470,500 1,475,500
Fully diluted weighted average common shares outstanding (in shares) 7,472,200 1,565,200 7,470,500 1,475,500