Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 1,372,758 $ 7,016,610
Restricted cash 604,291 600,342
Accounts receivable, net 841,071 378,683
Prepaid expenses 1,059,171 1,055,324
Other current assets 188,739 203,025
Total Current Assets 4,066,030 9,253,984
Property and equipment, net 20,600,075 21,827,769
Operating lease right-of-use assets, net 373,183 559,005
Other assets 110,360 91,276
Goodwill 9,600,745 9,600,745
Intangible assets, net 1,179,116 1,276,916
Total Assets 35,929,509 42,609,695
Current Liabilities:    
Accounts payable 1,853,702 3,128,459
Accrued liabilities 6,411,373 9,807,668
Operating lease liabilities - current 418,606 434,200
Notes payable - current 2,540,250 2,628,234
Other liabilities 192,473 160,110
Total Current Liabilities 30,485,441 35,375,461
Warrant liabilities 1,938 11,281
Operating lease liabilities - long-term 9,364 203,547
Derivative liability 251,000 0
Total Liabilities 30,747,743 35,590,289
Stockholders’ Equity:    
Common stock, $0.0001 par value; 625,000,000 shares authorized and 6,871,706 and 3,601,400 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively.* [1] 688 360
Additional paid-in capital 349,531,016 330,581,384
Accumulated other comprehensive loss (42,229) (42,229)
Accumulated deficit (344,307,710) (323,520,110)
Total Stockholders’ Equity 5,181,766 7,019,406
Total Liabilities and Stockholders’ Equity 35,929,509 42,609,695
Series A Preferred Stock    
Stockholders’ Equity:    
Convertible Preferred Stock 1 1
Series B Preferred Stock    
Stockholders’ Equity:    
Convertible Preferred Stock 0 0
Series C Preferred Stock    
Stockholders’ Equity:    
Convertible Preferred Stock 0 0
Related Party    
Current Liabilities:    
Accounts payable 80,000 45,000
November 2024 Debentures - current, fair value option (related party) 2,729,000 163,672
Senior Secured Convertible Term Loan - current, net of discount 14,988,777 14,113,871
Nonrelated Party    
Current Liabilities:    
Senior Secured Convertible Term Loan - current, net of discount $ 1,351,260 $ 4,939,247
[1] Reflects the 1-for-8 effected April 21, 2026.