v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income (loss) $ (58,359,106) $ 17,391,871
Adjustment to reconcile net income (loss) to cash (used in) provided by operating activities:    
Depreciation and amortization 8,307 3,877
Deferred tax benefit (17,664,912) (3,201,539)
Amortization of operating lease right-of-use assets 16,517 15,766
Change in fair value of Earnout Shares liability 965,000 (19,108,000)
Change in fair value of True Up Shares liability 0 (106,106)
Change in fair value of Subject Vesting Shares liability 2,289,000 (6,408,000)
Change in fair value of Equity Line Obligation liability (35,598) 286,819
Loss on disposition of property and equipment 1,577 0
Equity loss from investment in AirJoule, LLC 65,658,820 4,319,945
Stock-based compensation 2,850,550 2,419,596
Changes in operating assets and liabilities:    
Due from related party 934,723 2,496,577
Prepaid expenses and other assets (233,078) (355,138)
Operating lease liabilities (16,889) (14,230)
Accounts payable 108,564 217,385
Accrued expenses and other liabilities (283,427) (122,308)
Net cash used in operating activities (3,759,952) (2,163,485)
Cash flows from investing activities    
Purchases of property and equipment (19,506) (11,376)
Investment in AirJoule, LLC (12,500,000) (10,000,000)
Net cash used in investing activities (12,519,506) (10,011,376)
Cash flows from financing activities    
Proceeds from the exercise of options and purchases pursuant to employee stock purchase plan 62,365 99,718
Proceeds from the PIPE offering, net 0 14,556,106
Proceeds from the issuance of common stock 36,453,501  
Deferred offering costs paid (546,674) 0
Taxes paid related to net share settlement of equity awards (121,055) 0
Net cash provided by financing activities 35,848,137 14,655,824
Net increase in cash, cash equivalents and restricted cash 19,568,679 2,480,963
Cash, cash equivalents and restricted cash, beginning of period 21,848,455 28,021,748
Cash, cash equivalents and restricted cash, end of the period 41,417,134 30,502,711
Supplemental non-cash investing and financing activities:    
Issuance of True Up Shares 0 2,082,894
Deferred offering costs included in accrued expenses and other current liabilities 137,524 312,375
Supplemental cash flow information:    
Taxes paid $ 0 $ 0