Liquidity and Management Plans |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Liquidity and Management Plans [Abstract] | |
| LIQUIDITY AND MANAGEMENT PLANS | NOTE 2 - LIQUIDITY AND MANAGEMENT PLANS
The Company generated an operating loss of $3.1 million, a net loss of $3.0 million, and cash used in operations of $1.6 million for the six months ended June 30, 2026. As of June 30, 2026, the Company had cash and cash equivalents of $3.5 million and investments of $3.1 million in U.S. government securities. As of June 30, 2026, the Company had working capital of $6.9 million compared to working capital as of December 31, 2025 of $9.7 million.
Given the Company’s cash position and investment position as of June 30, 2026 its projected cash flow from operations, a subsequent offering of Series J Preferred Stock (refer to Note 11), and the entering in of a merger agreement in July 2026 (refer to Note 11), the Company believes that it will have sufficient capital to sustain operations for a period of at least one year following the date of this filing. |