Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 719	$ 1,778
Prepaid expenses and other current assets	122	541
Digital assets		1,445
Total current assets	841	3,764
Property and equipment, net	84	8
Other non-current assets	47	3
Right-of-use asset	70
Total assets	1,042	3,775
Current liabilities:
Accounts payable	7,855	7,345
Excise tax payable	44	1,953
Accrued expenses and other current liabilities	6,223	5,981
Convertible senior notes and loans payable at fair value	8,207	42
Promissory notes and other	644	946
Convertible and promissory notes payable to related parties	5,153	4,560
PPP loan		1,390
Total current liabilities	28,167	22,258
Warrant liabilities at fair value	2	298
Convertible loans payable at fair value		7,877
Total liabilities	28,169	30,433
Commitments and contingencies (Note 6)
Stockholders’ Deficit:
Undesignated preferred stock: $0.0001 par value – 1,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2026 and December 31, 2025
Common stock: $0.0001 par value – 600,000,000 authorized shares at June 30, 2026 and December 31, 2025; 132,329 and 12,320 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively
Additional paid-in capital	145,865	134,123
Accumulated deficit	(172,992)	(160,781)
Total stockholders’ deficit	(27,127)	(26,658)
Total liabilities and stockholders’ deficit	1,042	3,775
Related Party
Current liabilities:
Due to related party	$ 41	$ 41

Carrying value as of the balance sheet date of the portion of long-term debt due within one year or the operating cycle if longer identified as Convertible Notes Payable. Convertible Notes Payable is a written promise to pay a note which can be exchanged for a specified amount of another, related security, at the option of the issuer and the holder.

No definition available.