v3.26.1
Condensed Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 4,546,140 $ 1,025,987
Accounts receivable, net 291,486 199,954
Inventory 111,036 116,217
Prepaid expenses and other current assets 126,961 128,975
Total current assets 5,075,623 1,471,133
License agreement, net 265,518 271,143
Property and equipment, net 33,700 56,677
Intangible asset, net 205,985 202,264
Right-of-use assets, net 519,302 605,289
Deferred financing costs 1,507,794
Other assets 23,057 23,057
Total assets 6,123,185 4,137,357
Current liabilities:    
Accounts payable 1,026,809 868,545
Accrued liabilities 743,001 785,784
Accrued dividends – Series E convertible preferred stock 121,662
Deferred revenue – current 467,033 414,871
Derivative liability – current 143,382
Convertible notes payable – current 74,611
Operating lease liability – current 192,731 175,948
Total current liabilities 2,551,236 2,463,141
Long-term liabilities:    
Convertible notes payable, net 619,355
Deferred revenue – long-term 32,924 41,816
Derivative liabilities – long-term 543,545
Operating lease liability – long term 379,717 488,725
Total long-term liabilities 412,641 1,693,441
Total liabilities 2,963,877 4,156,582
Commitments and contingencies (Note 9)
Stockholders’ equity (deficit):    
Common stock, $0.01 par value; 50,000,000 authorized; 12,251,198 and 5,442,249 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 122,512 54,422
Additional paid-in capital 38,426,586 33,126,398
Accumulated deficit (36,928,398) (33,247,219)
Total stockholders’ equity (deficit) 1,620,700 (19,225)
Total liabilities, contingently redeemable preferred stock and stockholders’ equity 6,123,185 4,137,357
Series E Convertible Preferred Stock    
Contingently redeemable convertible preferred stock:    
Series E convertible preferred stock, $0.01 par value; 45,000 authorized; 5,228 and 0 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $6,273,600 1,538,608
Series D Preferred Stock    
Stockholders’ equity (deficit):    
Preferred stock value 1,016
Series C Preferred Stock [Member]    
Stockholders’ equity (deficit):    
Preferred stock value 12,040
Series B Preferred Stock [Member]    
Stockholders’ equity (deficit):    
Preferred stock value 14,715
Series A-2 Preferred Stock [Member]    
Stockholders’ equity (deficit):    
Preferred stock value 6,515
Series A-1 Preferred Stock [Member]    
Stockholders’ equity (deficit):    
Preferred stock value 8,464
Series A Preferred Stock    
Stockholders’ equity (deficit):    
Preferred stock value $ 4,424