|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
|
|---|---|---|
| Net loss | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock based compensation - Common Stock Grants | ||
| Stock based compensation - stock options and warrants | ||
| Accrued interest expense - related parties | ||
| Change in fair value of warrant liability | ||
| Change in fair value of derivative liability | ||
| Depreciation expense | ||
| Interest expense | ||
| Unrealized gain from changes in fair value of digital assets | ||
| Non-cash digital asset operating expenses | ||
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | ||
| Accounts payable and accrued expenses | ||
| Deferred offering costs related to the merger | ||
| Net cash used in operating activities | ||
| Cash flows from investing activities: | ||
| Cash from short term investments | ||
| Restricted cash | ||
| Purchases of PP&E | ||
| Cash paid to acquire operating lease | ||
| Cash acquired in accordance with merger | ||
| Net cash used in investing activities | ||
| Cash flows from financing activities: | ||
| Cash proceeds from issuance of common stock in IPO | ||
| Proceeds from notes payable - related parties | ||
| Payment of debt issuance costs | ||
| Cash advances from related parties | ||
| Net cash provided by financing activities | ||
| Net increase (decrease) in cash, cash equivalents | ||
| Cash, cash equivalents, beginning of period | ||
| Restricted cash | ||
| Total cash, cash equivalents, and restricted cash | ||
| Cash, cash equivalents, and restricted cash, end of period | ||
| Non-cash investing and financing activities: | ||
| Net Assets Acquired in the Merger | ||
| Operating Lease | ||
| Reconciliation of cash, cash equivalents, and restricted cash: | ||
| Cash and cash equivalents |
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