v3.26.3
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS  
Schedule of effects of the revision on company’s previously issued unaudited condensed consolidated financial statements for the periods indicated

 

 

 

As Previously Reported

 

 

Adjustment

 

 

As Restated

 

General and administrative expense

 

$

7,879

 

$

(1,003)

 

$

6,876

 

Total operating expenses

 

 

11,642

 

 

(1,003)

 

 

10,639

 

Loss from operations

 

 

(5,467)

 

 

1,003

 

 

(4,464)

 

Loss before income taxes

 

 

(5,289)

 

 

1,003

 

 

(4,286)

 

Net loss

 

 

(5,336)

 

 

1,003

 

 

(4,333)

 

Basic and diluted net loss per share

 

$

(0.50)

 

$

0.09

 

$

(0.41)

 

 

 

 

As Previously Reported

 

 

Adjustment

 

 

As Restated

 

Additional paid-in capital

 

$

58,413

 

$

(1,003)

 

$

57,410

 

Accumulated deficit

 

 

(29,635)

 

 

1,003

 

 

(28,632)

 

Total stockholders' equity

 

$

29,627

 

 

-

 

$

29,627

 

 

 

Additional Paid-in Capital

 

Accumulated Deficit

 

Total Stockholders' Equity

 

 

 

As Reported

 

Adjustment

 

As Restated

 

As Reported

 

Adjustment

 

As Restated

 

As Reported

 

Adjustment

 

As Restated

 

Balance as of December 31, 2025

 

$

32,930

 

 

-

 

$

32,930

 

$

(24,299)

 

 

-

 

$

(24,299)

 

$

9,642

 

 

-

 

$

9,642

 

Shares issued in private placement registered direct offerings

 

 

23,451

 

 

(1,003)

 

 

22,448

 

 

-

 

 

-

 

 

-

 

 

23,454

 

 

(1,003)

 

 

22,451

 

Share-based compensation

 

 

1,263

 

 

(1,003)

 

 

260

 

 

-

 

 

-

 

 

-

 

 

1,263

 

 

(1,003)

 

 

260

 

Warrants issued to placement agent

 

$

-

 

 

1,003

 

 

1,003

 

 

-

 

 

-

 

 

-

 

 

-

 

 

1,003

 

 

1,003

 

Net loss

 

 

-

 

 

-

 

 

-

 

 

(2,966)

 

 

1,003

 

 

(1,963)

 

 

(2,966)

 

 

1,003

 

 

(1,963)

 

Balance as of March 31, 2026

 

$

57,960

 

 

(1,003)

 

$

56,957

 

$

(27,265)

 

 

1,003

 

$

(26,262)

 

$

31,498

 

 

-

 

$

31,498

 

Balance as of June 30, 2026

 

$

58,413

 

 

(1,003)

 

$

57,410

 

$

(29,635)

 

 

1,003

 

$

(28,632)

 

$

29,627

 

 

-

 

$

29,627

 

 

 

As Reported

 

Adjustment

 

As Restated

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(5,336)

 

 

1,003

 

$

(4,333)

 

Warrant expense

 

 

1,003

 

 

(1,003)

 

 

-

 

Net cash used in operating activities:

 

$

(5,873)

 

$

-

 

$

(5,873)

 

Non-cash financing activities:

 

 

 

 

 

 

 

 

 

 

Warrants issued for equity offering costs

 

 

-

 

 

1,003

 

 

1,003