v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 7,016,610 $ 1,186,047
Restricted cash 600,342 52,151
Accounts receivable, net 378,683 238,531
Inventories 0 880,594
Prepaid expenses 1,055,324 1,389,434
Other current assets 203,025 574,025
Total Current Assets 9,253,984 4,320,782
Property and equipment, net 21,827,769 17,115,246
Operating lease right-of-use assets, net 559,005 1,094,743
Goodwill 9,600,745 0
Intangible Assets, net 1,276,916 0
Other assets 91,276 154,316
Total Assets 42,609,695 22,685,087
Current Liabilities:    
Accounts payable 3,128,459 5,916,693
Accrued liabilities 10,139,275 5,602,721
Contract liability 0 346,279
Operating lease liabilities - current 434,200 435,307
Notes payable - current 2,296,627 0
Other creditors 160,110 0
Total Current Liabilities 35,375,461 12,301,000
Warrant liabilities 11,281 181,913
Operating lease liabilities - long-term 203,547 768,939
Other liabilities 0 895,118
Total Liabilities 35,590,289 43,082,500
Stockholders’ Equity (Deficit):    
Common Stock, $0.0001 par value; 625,000,000 shares authorized, 28,811,198 and 1,084,655 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively. [1] 2,881 108
Additional paid-in capital 330,578,863 233,343,056
Accumulated other comprehensive loss (42,229) (42,229)
Accumulated deficit (323,520,110) (253,698,352)
Total Stockholders’ Equity (Deficit) 7,019,406 (20,397,413)
Total Liabilities and Stockholders’ Equity (Deficit) 42,609,695 22,685,087
Series A Preferred Stock    
Current Liabilities:    
Other creditors 71,958  
Stockholders’ Equity (Deficit):    
Convertible preferred stock, value 1 4
Series B Preferred Stock    
Current Liabilities:    
Other creditors 71,399  
Stockholders’ Equity (Deficit):    
Convertible preferred stock, value 0 0
Series C Preferred Stock    
Current Liabilities:    
Other creditors 16,753  
Stockholders’ Equity (Deficit):    
Convertible preferred stock, value 0 0
Related Party    
Current Liabilities:    
Accounts payable 45,000 160,366
November 2024 Debentures - current, fair value option (related party) 163,672 0
Senior Secured Convertible Term Loan - current, net of discount 14,113,871 0
November 2024 Debentures - long-term, fair value option (related party) 0 2,583,832
Senior Secured Convertible Term Loan - long-term, net of discount 0 13,820,366
Nonrelated Party    
Current Liabilities:    
Senior Secured Convertible Term Loan - current, net of discount 4,939,247 0
Senior Secured Convertible Term Loan - long-term, net of discount $ 0 $ 12,531,332
[1]
* Reflects the 1-for-36 reverse split effected July 22, 2024 and the 1-for-9 effected September 5, 2025.

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