v3.26.1
Condensed Consolidated Interim Statements of Changes in Redeemable Convertible Preferred Shares and Capital Deficiency Equity (Unaudited) - USD ($)
Preferred Stock
Redeemable Preferred A, A1,A2,A3, C and C-1 Shares
Preferred Stock
Series A
Preferred Stock
Series B
Preferred Stock
Series C
Common Stock
Previously Reported
Common Stock
Common Stock
TRAILBLAZER HOLDINGS, INC.
Additional paid in capital
Additional paid in capital
TRAILBLAZER HOLDINGS, INC.
Accumulated deficit
Accumulated deficit
TRAILBLAZER HOLDINGS, INC.
Total
TRAILBLAZER HOLDINGS, INC.
Balance at Dec. 31, 2023 $ 11,780,000         $ 2,000   $ 2,553,000   $ (18,944,000)   $ (16,389,000)  
Balance (in Shares) at Dec. 31, 2023 903,925         628,801              
Exercise of options         [1]   28,000     28,000  
Exercise of options (in Shares)           22,770              
Share based payments           1,551,000     1,551,000  
Net loss             (15,610,000)   (15,610,000)  
Balance at Dec. 31, 2024 $ 11,780,000   $ 2,000 [2] 4,132,000 (34,554,000) $ (53,820) (30,420,000) $ (53,820)
Balance (in Shares) at Dec. 31, 2024 903,925 651,571 2,351,976 1,000            
Balance at Jul. 15, 2024                  
Balance (in Shares) at Jul. 15, 2024                        
Issuance of Series C Preferred Stock, net                  
Issuance of Series C Preferred Stock, net (in shares)             1,000            
Net loss                 (53,820)   (53,820)
Balance at Dec. 31, 2024 $ 11,780,000   $ 2,000 [2] 4,132,000 (34,554,000) (53,820) (30,420,000) (53,820)
Balance (in Shares) at Dec. 31, 2024 903,925 651,571 2,351,976 1,000            
Exercise of options   [2]   2,000     2,000  
Exercise of options (in Shares)   190,408              
Share based payments     2,255,000     2,255,000  
Issuance of Series C Preferred Stock, net $ 2,431,000          
Issuance of Series C Preferred Stock, net (in shares) 165,633                
Conversion of SAFE (as defined below) to Series C-1 Preferred Stock $ 1,057,000          
Conversion of SAFE (as defined below) to Series C-1 Preferred Stock (in shares) 67,368                
Net loss       (5,760,000)   (5,760,000)  
Balance at Jun. 30, 2025 $ 15,268,000   $ 2,000   6,389,000   (40,314,000)   (33,923,000)  
Balance (in Shares) at Jun. 30, 2025 1,136,926   2,542,384              
Balance at Dec. 31, 2024 $ 11,780,000   $ 2,000 [2] 4,132,000 (34,554,000) (53,820) (30,420,000) (53,820)
Balance (in Shares) at Dec. 31, 2024 903,925 651,571 2,351,976 1,000            
Exercise of options         [1]   3,000     $ 3,000  
Exercise of options (in Shares)           175,049           175,049  
Share based payments           3,024,000     $ 3,024,000  
Issuance of Series C Preferred Stock, net         [1]        
Issuance of Series C Preferred Stock, net (in shares)           9,892              
Stock Issued During Period, Value, Conversion of Units $ 1,057,000                
Stock Issued During Period, Shares, Conversion of Units 67,368                      
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt           173,000     173,000  
Issuance of preferred shares C, net $ 2,431,000                
Issuance of preferred shares C, net (In Shares) 165,633                      
Net loss         (12,819,000) (156,348) (12,819,000) (156,348)
Balance at Dec. 31, 2025 $ 15,268,000   $ 2,000 7,332,000 (47,373,000) (210,168) (40,039,000) (210,168)
Balance (in Shares) at Dec. 31, 2025 1,136,926 836,512 3,019,557 1,000            
Balance at Mar. 31, 2025 $ 11,780,000   $ 2,000   5,522,000   (37,868,000)   (32,344,000)  
Balance (in Shares) at Mar. 31, 2025 903,925   2,364,971              
Exercise of options     1,000     1,000  
Exercise of options (in Shares)   177,413              
Share based payments     866,000     866,000  
Issuance of Series C Preferred Stock, net $ 2,431,000          
Issuance of Series C Preferred Stock, net (in shares) 165,633                
Conversion of SAFE (as defined below) to Series C-1 Preferred Stock $ 1,057,000          
Conversion of SAFE (as defined below) to Series C-1 Preferred Stock (in shares) 67,368                
Net loss       (2,446,000)   (2,446,000)  
Balance at Jun. 30, 2025 $ 15,268,000   $ 2,000   6,389,000   (40,314,000)   (33,923,000)  
Balance (in Shares) at Jun. 30, 2025 1,136,926   2,542,384              
Balance at Dec. 31, 2025 $ 15,268,000   $ 2,000 7,332,000 (47,373,000) (210,168) (40,039,000) (210,168)
Balance (in Shares) at Dec. 31, 2025 1,136,926 836,512 3,019,557 1,000            
Balance at Mar. 31, 2026   $ 2,000   46,093,000   (58,143,000)   (12,048,000)  
Balance (in Shares) at Mar. 31, 2026 2,177 13,330 10,660   14,064,191              
Balance at Dec. 31, 2025 $ 15,268,000   $ 2,000 7,332,000 (47,373,000) $ (210,168) (40,039,000) $ (210,168)
Balance (in Shares) at Dec. 31, 2025 1,136,926 836,512 3,019,557 1,000            
Conversion of redeemable preferred shares $ (15,268,000)     15,268,000     15,268,000  
Conversion of redeemable preferred shares (in Shares) (1,136,926)   4,103,962              
Exercise of options   [2]   3,000     3,000  
Exercise of options (in Shares)   49,044              
Shares issued in connection with loan agreement   [2]       [2]  
Shares issued in connection with loan agreement (in Shares)   2,751              
Impact of closing of Business Combination [2] [2]     (1,564,000)     (1,564,000)  
Impact of closing of Business Combination (in Shares) 5,330 10,660   4,178,485              
Shares Issued to advisors     4,277,000     4,277,000  
Shares Issued to advisors (in Shares)   1,630,000              
Conversion of convertible notes [2]     12,676,000     12,676,000  
Conversion of convertible notes (in Shares) 3,061   1,356,459              
Issuance of the private investment into public equity (“PIPE”) shares [2]     6,771,000     6,771,000  
Issuance of the private investment into public equity (“PIPE”) shares (in Shares) 8,000                
Conversion of Series A Preferred Stock to common stock [2]   [2]   [2]       [2]  
Conversion of Series A Preferred Stock to common stock (in Shares) (884)   250,024              
Reclassification of warrant to equity     390,000     390,000  
Share based payments     4,431,000     4,431,000  
Net loss     [2]   (14,209,000)   (14,209,000)  
Balance at Jun. 30, 2026 [2] [2]   $ 2,000   49,584,000   (61,582,000)   (11,996,000)  
Balance (in Shares) at Jun. 30, 2026 2,177 13,330 10,660   14,590,282              
Balance at Mar. 31, 2026   $ 2,000   46,093,000   (58,143,000)   (12,048,000)  
Balance (in Shares) at Mar. 31, 2026 2,177 13,330 10,660   14,064,191              
Exercise of options          
Exercise of options (in Shares)   1,091              
Shares Issued to advisors     3,268,000     3,268,000  
Shares Issued to advisors (in Shares)   525,000              
Share based payments     223,000     223,000  
Net loss       (3,439,000)   (3,439,000)  
Balance at Jun. 30, 2026 [2] [2]   $ 2,000   $ 49,584,000   $ (61,582,000)   $ (11,996,000)  
Balance (in Shares) at Jun. 30, 2026 2,177 13,330 10,660   14,590,282              
[1] Less than USD 1 thousand
[2] Less than $1 thousand