Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Operations

v3.25.1
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenue:    
Total revenue $ 1,807,472 $ 6,606,352
Revenue from Contract with Customer, Product and Service [Extensible Enumeration] Service [Member] Service [Member]
Costs and expenses:    
Cost of revenue (exclusive of items shown separately below) $ 9,732,205 $ 11,928,931
Cost, Product and Service [Extensible Enumeration] Service [Member] Service [Member]
Depreciation $ 1,736,828 $ 729,412
Research and development 82,850 1,399,560
General and administrative 13,370,486 18,271,832
Severance 0 1,476,636
Impairment of property and equipment 0 25,354,791
Loss on contract 0 2,542,913
Total costs and expenses 24,922,369 61,704,075
Operating loss (23,114,897) (55,097,723)
Other (income) expense:    
Other (income) expense, net 110,361 627,580
Loss on lease termination 18,721 453,162
Foreign currency transaction loss 61,597 44,020
Loss on extinguishment of debt 127,605,940 0
Loss on exchange of warrants 0 590,266
Change in fair value of warrant liabilities (13,559,010) (14,902,427)
Change in fair value of debentures   0
Interest expense, net 5,108,227 8,776,277
Total other (income) expense, net 111,791,752 (4,411,122)
Net loss $ (134,906,649) $ (50,686,601)
Basic loss per share (in dollars per share) $ (36.73) $ (44.57)
Diluted loss per share (in dollars per share) $ (36.73) $ (44.57)
Basic weighted average shares outstanding (in shares) 3,673,197 1,137,318
Diluted weighted average shares outstanding (in shares) 3,673,197 1,137,318
New Convertible Debentures    
Other (income) expense:    
Change in fair value of debentures $ (7,989,948) $ 0
November 2024 Debentures    
Other (income) expense:    
Change in fair value of debentures 435,864 0
Nonrelated Party    
Revenue:    
Total revenue 1,807,472 6,605,852
Related Party    
Revenue:    
Total revenue 0 $ 500
Costs and expenses:    
General and administrative $ 1,015,558