v3.26.1
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (6,914,744) $ (10,523,246)
Depreciation expense 120,201 145,715
Stock-based compensation 2,739,540 488,274
Amortization of right-to-use operating lease asset 434,632 391,417
Inducement expense 863,550
Amortization of debt discount 746,647
Foreign currency transaction gain included in other expenses, net (121)
Loss on initial and revaluation of derivative liabilities 4,000,255
Gain on revaluation of preferred stock liabilities (6,610,240)
Gain on revaluation of earnout liability (19,500)
Prepaid expenses and other current assets 461,462 (169,143)
Accounts payable 635,996 561,901
Accrued liabilities 121,198 (404,289)
Insurance financing liability (323,486)
Operating lease liability (480,799) (422,881)
Net cash used in operating activities (5,088,959) (9,068,702)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of Series A Preferred warrants 500,000
Proceeds from convertible notes, net 3,663,600
Proceeds from share purchases under ELOC, net of issuance costs 700,491 2,425,906
Proceeds received from sale of Series D Preferred Stock, net of issuance costs 2,240,180
Proceeds received from sale of common stock and warrants 588,000
Proceeds received from sale of pre-funded warrants, net of issuance costs 3,685,027
Proceeds from exercise of pre-funded warrants 203
Cash redemption of Series C Preferred Stock (395,000)
Net cash provided by financing activities 4,364,091 9,044,316
Net decrease in cash, restricted cash and cash equivalents (724,868) (24,386)
Cash, restricted cash and cash equivalents at beginning of period 1,662,380 3,327,060
Cash, restricted cash and cash equivalents at end of period 937,512 3,302,674
Cash paid for:    
Interest
Income taxes
The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the same such amounts shown in the consolidated statements of cash flows:    
Cash and cash equivalents 862,756 3,227,918
Restricted cash 74,756 74,756
Cash, restricted cash and cash equivalents 937,512 3,302,674
NON-CASH FINANCING ACTIVITIES:    
Conversion of Series A, Series B, Series C, Series D and Series E preferred stock to common stock 166,358 2,074,340
Increase in debt discount and derivative liabilities 3,663,600
Reclassification of deferred offering costs to additional paid-in capital 112,232
Reclassification of accrued expenses to accounts payable 1,143,826
Issuance of Series D Preferred Stock for investment in equity securities 500,000
Reclassification of Series D preferred stock fair value to preferred stock liabilities 8,784,862
Reclassification of Series E preferred stock fair value to preferred stock liabilities $ 12,799,260