Common Stock |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| Common Stock | NOTE 8 - Common Stock
Stock-Based Compensation and Equity Awards
During the six months ended June 30, 2026, the Company granted stock options under the 2023 Equity Incentive Plan at an exercise price of $0.16 per share and a weighted-average grant-date fair value of $ per share, and restricted stock units at a weighted-average grant-date fair value of $ per unit. During the period, restricted stock units vested, resulting in restricted stock units outstanding at June 30, 2026.
Issuances Related to Promissory Notes and Convertible Debt
During the six months ended June 30, 2026, the Company issued shares of Class A Common Stock in settlement of convertible-debt liabilities. During six months ended June 30, 2025, the Company issued total of shares of Class A Common Stock to satisfy obligations due under the promissory note and convertible debt. See Note 7, Convertible Debt, in the accompanying notes to the unaudited condensed consolidated financial statements for further detail.
At the Market offerings
The Company commenced sales of its common stock pursuant to the shelf registration. These sales were facilitated through a third-party arrangement with Maxim Group LLC, acting as the Company’s agent under an equity distribution agreement under its At-The-Market (“ATM”) offering program. During the six months ended June 30, 2026, the Company received $2,464 thousand and issued 7,995,651 shares of class A Common Stock, which are intended to be used for general working capital and other general corporate purposes. The Company’s ability to access the ATM program was temporarily limited during the period due to certain filing-related requirements. Availability under the program remains subject to applicable regulatory requirements, registration effectiveness and market conditions.
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