|
FY2025
12 months to Dec 31, 2025
|
|
|---|---|
| Cash Flows from Operating Activities | |
| Net loss | |
| Adjustment to reconcile net loss to cash used in operating activities: | |
| Depreciation and amortization expense | |
| Provision for returns reserve | |
| Share-based compensation | |
| Amortization of debt discount | |
| Change in fair value of convertible notes | |
| Changes in operating assets and liabilities: | |
| Accounts receivable | |
| Other current assets | |
| Accounts payable and accrued expenses | |
| Accrued interest | |
| Related Party | |
| Nonrelated Party | |
| Net cash used in operating activities | |
| Cash flows from Investing Activities | |
| Purchases of property and equipment | |
| Net cash used in investing activities | |
| Cash flows from Financing Activities | |
| Issuance of ordinary shares in exchange for cash | |
| Proceeds from the issuance of notes payable | |
| Related Party | |
| Nonrelated Party | |
| Proceeds from the issuance of convertible notes payable | |
| Related Party | |
| Nonrelated Party | |
| Repayments of convertible notes payable | |
| Net cash provided by financing activities | |
| Net decrease in cash | |
| Cash, beginning of year | |
| Cash, end of the year | |
| Supplemental non-cash disclosures: | |
| Conversion of convertible notes payable to equity | |
| Related Party | |
| Nonrelated Party | |
| Issuance of convertible note in settlement of vendor liabilities (non-cash) | |
| Non-cash Payment in Kind ("PIK") Interest | |
| Interest forgiven (of which £3,805 is related party) | |
| Related Party | |
| Total interest forgiven (of which £3,805 is related party) | |
| Settlement of share-based compensation liability via share issuance |
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