v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash $ 339 $ 1,778
Prepaid expenses and other current assets 55 541
Digital assets 1,445
Total current assets 394 3,764
Property and equipment, net 80 8
G3 call option asset 28,327
Other non-current assets 45 3
Right-of-use asset 44
Total assets 28,890 3,775
Current liabilities:    
Accounts payable 10,066 7,345
Excise tax payable 44 1,953
Accrued expenses and other current liabilities 4,216 5,981
Convertible senior notes and loans payable at fair value 2,627 42
Promissory notes and other 399 946
Convertible and promissory notes payable to related parties 3,743 4,560
PPP loan 1,390
Total current liabilities 21,095 22,258
Warrant liabilities at fair value 298
Convertible loans payable at fair value 7,877
Total liabilities 21,095 30,433
Commitments and contingencies (Note 6)
Stockholders’ Equity (Deficit):    
Series A non-voting convertible preferred stock: $0.0001 par value – 130,000 shares authorized and 58,832.859 shares issued and outstanding at September 30, 2026; 0 shares issued and outstanding at December 31, 2025
Common stock: $0.0001 par value – 600,000,000 shares authorized at September 30, 2026 and December 31, 2025; 2,516,564 and 12,320 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively
Additional paid-in capital 185,737 134,123
Accumulated deficit (177,942) (160,781)
Total stockholders’ equity (deficit) 7,795 (26,658)
Total liabilities and stockholders’ equity (deficit) 28,890 3,775
Related Party    
Current liabilities:    
Due to related party $ 41