v3.26.1
Summary of Significant Accounting Policies (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Summary of Significant Accounting Policies [Abstract]    
Schedule of Cash Balances by Geographic Area

At June 30, 2026 and December 31, 2025, the Company’s cash balances by geographic area were as follows:

 

Country:  June 30, 2026   December 31, 2025 
United States  $39,145    99.8%  $108,599    99.5%
China   76    0.2%   492    0.5%
Total cash  $39,221    100.0%  $109,091    100.0%

At December 31, 2025 and 2024, the Company’s cash balances by geographic area were as follows:

 

Country:   December 31, 2025     December 31, 2024  
United States   $ 108,599       99.5 %   $ 2,646,395       99.6 %
China     492       0.5 %     11,787       0.4 %
Total cash   $ 109,091       100.0 %   $ 2,658,182       100.0 %
Schedule of Derivative Liability Measured at Fair Value The table below reflects the activity of derivative liability measured at fair value for the six months ended June 30, 2026:
   Significant
Unobservable
Inputs
(Level 3)		 
Balance of derivative liability as of January 1, 2026  $34,156 
Loss from change in the fair value of derivative liability   1,275,237 
Reclassification of additional paid-in capital upon conversion   (1,281,603)
Balance of derivative liability as of June 30, 2026  $27,790 
 The table below reflects the activity of derivative liability measured at fair value for the years ended December 31, 2025 and 2024:
    Significant
Unobservable
Inputs
(Level 3)		  
Balance of derivative liability as of January 1, 2024   $ 24,796  
Initial fair value of derivative liability attributable to warrants issuance with March and June 2024 fund raises     479,468  
Reclassification of additional paid-in capital upon conversion     (2,354 )
Gain from change in the fair value of derivative liability     (374,365 )
Balance of derivative liability as of December 31, 2024     127,545  
Initial fair value of derivative liability attributable to Second Warrant issuance with June 2024 fund raise (See Note 11)     621,353  
Gain from change in the fair value of derivative liability     (538,213 )
Reclassification of additional paid-in capital upon conversion     (176,529 )
Balance of derivative liability as of December 31, 2025   $ 34,156  
Schedule of Securities that were Excluded from the Diluted Per Share

The following table summarizes the securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive:

 

   Three Months Ended June 30,   Six Months Ended June 30, 
   2026   2025   2026   2025 
Options to purchase common stock   2,189,836    44,501    2,189,836    44,501 
Warrants to purchase common stock   13,202,348    95,746    13,202,348    95,746 
Series C convertible preferred stock (*)   1,058,091    1,452,282    1,058,091    1,452,282 
Series D convertible preferred stock (**)   
-
    2,074,689    
-
    2,074,689 
Series E convertible preferred stock (***)   12,931,000    
-
    12,931,000    
-
 
Convertible notes and related accrued interest (****)   
-
    2,436,375    
-
    2,638,734 
Potentially dilutive securities   29,381,275    6,103,593    29,381,275    6,305,952 

 

(*)Assumed the Series C convertible preferred stock was converted into shares of common stock of the Company at a conversion price of $2.41 per share.

 

(**)Assumed the Series D convertible preferred stock was converted into shares of common stock of the Company at a conversion price of $2.41 per share.

 

(***)Assumed the Series E convertible preferred stock was converted into shares of common stock of the Company at a conversion price of $1.50 per share.

 

(****)Assumed the convertible notes were converted into shares of common stock of the Company at a conversion price of $1.00 per share for the three and six months ended June 30, 2025.

The following table summarizes the securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive:

 

    Years Ended December 31,  
    2025     2024  
Options to purchase common stock     41,169       52,479  
Warrants to purchase common stock     95,746       182,996  
Series A convertible preferred stock (*)    
-
       60,000  
Series B convertible preferred stock (**)    
-
       194,004  
Series C convertible preferred stock (***)     1,576,763       1,452,282  
Series D convertible preferred stock (****)     2,074,689      
-
  
Series E convertible preferred stock (*****)     13,000,000      
-
  
Convertible notes and related accrued interest (******)     788,283       227,269  
Potentially dilutive securities     17,576,650       2,169,030  

 

(*) Assumed the Series A convertible preferred stock was converted into shares of common stock of the Company at a conversion price of $150.00 per share.

 

(**) Assumed the Series B convertible preferred stock was converted into shares of common stock of the Company at a conversion price of $56.70 per share.

 

(***) Assumed the Series C convertible preferred stock was converted into shares of common stock of the Company at a conversion price of $2.41 per share.

 

(****) Assumed the Series D convertible preferred stock was converted into shares of common stock of the Company at a conversion price of $2.41 per share.

 

(*****) Assumed the Series E convertible preferred stock was converted into shares of common stock of the Company at a conversion price of $1.50 per share.

 

(******) Assumed the convertible notes were converted into shares of common stock of the Company at a conversion price of $1.00 per share for the years ended December 31, 2025. Assumed the convertible notes were converted into shares of common stock of the Company at a conversion price of $11.25 per share for the year ended December 31, 2024.