v3.26.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 26,154,004 $ 204,725
Accounts receivable 5,467 5,110
Other receivable 302,500 302,500
Inventory 24,430 24,430
Prepaid expenses 137,049 170,257
Other current assets 156,486 76,166
Total Current Assets 26,779,936 783,188
Non-current assets:    
Property and Equipment, net of depreciation 1,884,765 2,022,043
Patents, net of amortization 2,015,380 1,991,623
Operating lease right-of-use asset 502,171
Other non-current assets 75,405
Total Assets 31,257,657 4,796,854
Current Liabilities:    
Accounts payable and accrued expenses 3,217,688 3,509,936
Operating lease liability, current 95,846
Excise tax payable 1,116,710 964,463
Derivative liabilities 565,700 4,772,600
Short-term notes payable 2,021,030 2,647,556
Total Current Liabilities 7,171,774 11,982,428
Non-current Liabilities:    
Operating lease liability, non-current 330,356
Total Liabilities 7,502,130 11,982,428
Commitments and contingencies (Note 6)
Stockholders’ Equity (Deficit):    
Preferred stock, $0.0001 par value; 2,000,000 shares authorized; none issued and outstanding
Common stock, $0.0001 par value, 300,000,000 shares authorized, 8,981,893 and 7,465,283 issued and outstanding as of September 30, 2026 and December 31, 2025, respectively 898 746
Additional paid-in capital 191,200,169 159,027,646
Stock subscription receivable (2,841,427)
Accumulated deficit (167,445,540) (163,372,539)
Total Stockholders’ Equity (Deficit) 23,755,527 (7,185,574)
Total Liabilities and Stockholders’ Equity (Deficit) 31,257,657 4,796,854
Related Party    
Current Liabilities:    
Due to related party 87,873
Short-term notes payable – related party $ 154,800