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
Operating expenses:        
Selling, general and administrative $ 988,501 $ 1,800,778 $ 2,015,681 $ 3,259,127
Total operating expenses 988,501 1,800,778 2,015,681 3,259,127
Loss from operations (988,501) (1,800,778) (2,015,681) (3,259,127)
Other income (expense):        
Warrant issuance costs       (10,420,982)
Change in fair value of warrant liability 900 (329,343) 900 10,302,657
Interest income 31,976 88,849 72,120 136,639
Total other income (expenses) 32,876 (240,494) 73,020 18,314
Income (loss) before income taxes (955,625) (2,041,272) (1,942,661) (3,240,813)
Income (loss) from continuing operations, net of tax (955,625) (2,041,272) (1,942,661) (3,240,813)
Gain from assignment of subsidiaries and Vivus settlement   6,973,302   6,973,302
Gain (loss) from discontinued operations   500,816   (559,665)
Net income (loss) (955,625) 5,432,846 (1,942,661) 3,172,824
Preferred Stock dividend and cash premiums (232,702) (218,190) (465,524) (493,357)
Net loss per common share        
Net income (loss) from continuing operations attributable to common stockholders $ (14,398,327) (38,532,462) $ (15,618,185) (48,362,994)
Gain (loss) from discontinued operations attributable to common stockholders   $ 7,474,118   $ 6,413,637
Basic - continuing operations - As restated (in dollars per share) $ (0.3) $ (1.49) $ (0.33) $ (3.55)
Diluted - continuing operations - As restated (in dollars per share) (0.3) (1.49) (0.33) (3.55)
Basic - discontinued operations, assignment and settlement (in dollars per share)   0.29   0.47
Diluted - discontinued operations, assignment and settlement (in dollars per share)   0.29   0.47
Basic (in dollars per share) (0.3) (1.2) (0.33) (3.08)
Diluted (in dollars per share) $ (0.3) $ (1.2) $ (0.33) $ (3.08)
Weighted average common shares outstanding        
Basic (in shares) 47,391,733 25,922,503 46,899,325 13,610,547
Diluted (in shares) 47,391,733 25,922,503 46,899,325 13,610,547
Series A Preferred Warrants        
Other income (expense):        
Deemed dividend Series A warrants $ (13,210,000) $ (33,246,000) $ (13,210,000) $ (41,601,824)
Series A Warrants        
Other income (expense):        
Deemed dividend Series A warrants   $ (3,027,000)   $ (3,027,000)