v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows Used in Operating Activities    
Net loss $ (4,030,345) $ (144,966)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 7,583 8,753
Accretion of debt discount on Streeterville December 2025 Note 75,000
Amortization of net debt discount on Streeterville March 2026 Note 90,804
Interest expense 14,554
Gain on extinguishment of debt (14,554)
Share-based compensation under Maxim Letter Agreement 2,444,776
Unrealized loss/(gain) on foreign currency transactions 136,005 (539,284)
Loss on disposal of property and equipment 404
Changes in operating assets and liabilities:    
Accounts receivable (27) (836)
Inventory 1,242 28,064
Prepaid expenses and other current assets (180,860) 48,416
Accounts payable 473,509 (70,843)
Accrued expenses and other current liabilities 115,343 5,359
Interest payable – related party 72,387 107,288
Deferred revenue (2,406) 1,244
Net Cash Used in Operating Activities (796,585) (556,805)
Cash Flows From Investing Activities    
Proceeds from the sale of property and equipment 685
Net Cash Provided by Investing Activities 685
Cash From Financing Activities    
Cash received from promissory notes from related party 336,408 536,000
Proceeds from issuance of Streeterville March 2026 Convertible Note 500,000
Cash received from advances from related party 19,000 20,000
Cash paid for promissory notes from related party (128,568)
Cash paid for advances from related party (46,250)
Proceeds from issuance of warrants under Securities Purchase Agreement 1,250
Proceeds from issuance of common stock under Securities Purchase Agreement 1,438
Net Cash Provided by Financing Activities 729,528 509,750
Effect of Foreign Exchange Rate on Changes on Cash (5,100) 18,341
Net Increase (Decrease) in Cash and Cash Equivalents (71,472) (28,714)
Cash and cash equivalents – beginning of the period 87,463 72,283
Cash and cash equivalents – end of the period 15,991 43,569
Supplemental disclosure of cash flow information:    
Interest – related party 71,433
Income taxes
Non-cash financing activities:    
Extinguishment of Streeterville December 2025 Note 500,000
Fair value of Note Warrants issued in connection with March 2026 Convertible Note 585,402
Constructive payment made to related party on behalf of the Company 19,000 20,000
Retirement of fixed assets for no consideration 38,798
Exchange of common stock for preferred stock under the Exchange Agreement $ 2,500