v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities    
Net Loss $ (4,505) $ (4,201)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 56 32
Stock-based compensation 791 1,183
Change in fair value of derivative liabilities (191) (81)
Changes in operating assets and liabilities:    
(Increase) Decrease in accounts receivable (140) (296)
(Increase) Decrease in other current assets (335) (211)
(Increase) Decrease in inventory 21 (137)
Increase (Decrease) in accounts payable (294) (524)
Increase (Decrease) in accrued expenses 89 20
Increase (Decrease) in deferred revenue 84 165
Increase (Decrease) in other current liabilities (36) 30
Net Cash Used in Operating Activities (4,459) (4,021)
Cash Flows from Investing Activities    
Purchase of fixed assets (49) (150)
Net Cash Used in Investing Activities (49) (150)
Cash Flows from Financing Activities    
Proceeds from issuances of Class A shares 15 0
Proceeds from issuance of Preferred Shares 0 13,750
Equity issuance costs (145) (1,898)
Net Cash Provided by (Used in) Financing Activities (130) 11,852
EFFECT OF EXCHANGE RATE ON CASH (8) 0
Net Change in Cash (4,646) 7,681
Cash at Beginning of Period 8,453 52
Cash at End of Period 3,807 7,733
Supplementary disclosure of non-cash activities    
Equity issued for non-cash consideration 358 8,013
Derecognition and reclassification of derivative liability 4,108 0
Issuance of Series 2 Preferred Stock in settlement of accrued preferred dividends 217 91
Derivative liability reclassified to host instrument 1,092 1,561
Accrued preferred dividends 134 194
Series 2 Shares exchanged for unsecured promissory note $ 1,300 $ 0