v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 5,254 $ 11,685
Accounts receivable, net 2,218
Non-trade accounts receivable, net 1,848 1,493
Non-trade accounts receivable – related parties 796
Inventories, net 1,499
Prepaid expenses and other current assets 3,084 48
Total current assets 14,699 13,226
Property, plant and equipment, net 7,333
Intangible assets, net 6,347
Deferred transaction costs 9,265
Goodwill 58,909
Other noncurrent assets 7,796
TOTAL ASSETS 95,084 22,491
Current liabilities:    
Accounts payable 10,141 4,651
Accounts payable – related parties 78
Non-trade accounts payable 47,553
Non-trade accounts payable – related parties 461
Short term debt 2,625
Short term debt – related parties 1,659 484
Current portion of long-term debt 1,246
Convertible promissory notes 2,296
July investment agreement derivative 379,205
CPU Share Allocation Obligation 292,680
Accrued expenses and other current liabilities 27,408 339
Total current liabilities 93,467 677,359
Long term debt 2,309
Long term debt – related parties 16
Convertible debentures 17,395
Other noncurrent liabilities 749
Total Liabilities 113,936 677,359
Commitments and contingencies (Note 19)
Stockholders’ Deficit    
Common stock $0.0001 par value, 1,500,000,000 shares authorized, 621,790,646 and 0 shares issued and outstanding as of June 30, 2026 and December 31, 2025 62 45 [1]
Additional paid-in capital 1,113,050 (2,374)
Convertible preferred units (Note 13 – Equity) 26,262
Accumulated deficit (1,131,031) (678,807)
Accumulated other comprehensive (loss) income (942) 6
Total stockholders’ deficit (18,862) (654,868)
Noncontrolling interest 10
Total deficit (18,852) (654,868)
Total liabilities and stockholders’ deficit $ 95,084 $ 22,491
[1] Par value of common stock, additional paid-in capital and share data have been retroactively restated to give effect to reverse recapitalization that is discussed in Note 3