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

Consolidated Statements of Operations

v3.26.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenue:    
Total revenue $ 5,274,915 $ 1,807,472
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) $ 12,336,520 $ 9,732,205
Cost, product and service [Extensible Enumeration] Service [Member] Service [Member]
Depreciation and amortization $ 2,344,826 $ 1,736,828
Research and development 0 82,850
General and administrative 14,320,568 13,570,486
Total costs and expenses 29,001,914 25,122,369
Operating loss (23,726,999) (23,314,897)
Other (income) expense:    
Other income, net (134,322) (70,918)
Foreign currency transaction loss 54,527 61,597
Loss on extinguishment of debt 6,371,971 127,605,940
Change in fair value of warrant liabilities (170,632) (13,559,010)
Interest expense, net 8,732,011 5,108,227
Total other expense, net 17,101,403 111,591,752
Net loss $ (40,828,402) $ (134,906,649)
Basic loss per share (in dollars per share) $ (10.45) $ (330.55)
Diluted loss per share (in dollars per share) $ (10.45) $ (330.55)
Basic weighted average shares outstanding (in shares) [1] 6,681,851 408,133
Diluted weighted average shares outstanding (in shares) [1] 6,681,851 408,133
New Convertible Secured Debentures    
Other (income) expense:    
Change in fair value of debentures $ 0 $ (7,989,948)
November 2024 Debentures    
Other (income) expense:    
Change in fair value of debentures $ 2,247,848 $ 435,864
[1]
* Reflects the 1-for-36 reverse split effected July 22, 2024 and the 1-for-9 effected September 5, 2025.