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GAIN ON EXTINGUISHMENT OF LIABILITIES
6 Months Ended
Jun. 30, 2026
Gain On Extinguishment Of Liabilities  
GAIN ON EXTINGUISHMENT OF LIABILITIES

NOTE 18. GAIN ON EXTINGUISHMENT OF LIABILITIES

 

The Company recorded gains on the extinguishment of liabilities of $-0- and $10,619 for the three months ended June 30, 2026 and 2025, respectively, and $63,259 and $2,230,716 for the six months ended June 30, 2026 and 2025, respectively.

 

The gain recognized during the six months ended June 30, 2026 reflects discounts received in connection with the negotiated settlement of outstanding payables during the three months ended March 31, 2026. The gain recognized during the six months ended June 30, 2025 principally reflects discounts received in connection with the negotiated settlement of outstanding payables and contract liabilities during the three months ended March 31, 2025, funded in part by proceeds from the February 2025 underwritten public offering.