|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
|
|---|---|---|
| Cash Flows from Operating Activities | ||
| NET LOSS | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Amortization of intangible asset | ||
| Amortization of vendor advances | ||
| Amortization of debt discount | ||
| Fair value of vested restricted stock units | ||
| Fair value of common shares issued in connection with the conversion of accounts payable | ||
| Stock-based compensation | ||
| Warrants issued in connection with convertible notes payable | ||
| Fair value of warrants issued in connection with convertible notes payable | ||
| Gain on settlement of accounts payable | ||
| Changes in operating assets and liabilities: | ||
| Vendor advances | ||
| Prepaid expenses and other current assets | ||
| Accounts payable and accrued expenses | ||
| Net cash used in operating activities | ||
| Cash Flows from Financing Activities | ||
| Proceeds from the sale and exercise of prefunded warrants | ||
| Proceeds from the equity line of credit | ||
| Proceeds from common stock issued for cash in connection with the closing of the initial public offering | ||
| Proceeds from notes payable - officers | ||
| Repayment of notes payable - officers | ||
| Payment of deferred offering costs | ||
| Net cash provided by financing activities | ||
| Net increase in cash and cash equivalents | ||
| Cash and cash equivalents, beginning of period | ||
| Cash and cash equivalents, end of period | ||
| Supplemental cash flows disclosures: | ||
| Interest paid | ||
| Supplemental non-cash financing disclosures: | ||
| Common shares issued for deferred offering costs | ||
| Common shares issued for vendor advances | ||
| Reclassification of deferred offering costs to shareholders’ equity | ||
| Conversion of convertible notes payable and accrued interest to shareholders’ equity | ||
| Conversion of accounts payable to shareholders’ equity | ||
| Conversion of amounts due to related parties to shareholders’ equity | ||
| Issuance of convertible notes payable recorded as debt discount |
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