v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 4,221,000 $ 500,000
Accounts receivable, current, net 1,264,000 1,427,000
Unbilled revenue 16,000 113,000
Deferred transaction costs 1,865,000
Prepaid expenses and other current assets 753,000 219,000
Total current assets 6,254,000 4,124,000
Property and equipment, net 305,000 348,000
Intangible assets, net 206,000 187,000
Accounts receivable, net 4,000
Deferred tax asset 11,000 10,000
Operating lease right-of-use assets 744,000 870,000
Other assets 16,000 5,000
Total assets 7,536,000 5,548,000
Current liabilities:    
Accounts payable 5,012,000 6,537,000
Accrued expenses and other current liabilities 4,618,000 3,700,000
Deferred revenue 54,000
Convertible notes payable, at fair value, current 8,986,000
Convertible notes payable, current 255,000
Related party loan payable, current 300,000 700,000
Operating lease liability, current 85,000 74,000
Forward purchase derivative liability 9,692,000
Short term debt 342,000  
Total current liabilities 20,049,000 20,306,000
Accounts payable non-current 143,000  
Related party convertible notes payable, at fair value 6,524,000
Convertible notes payable 200,000
Warrant liability 121,000 945,000
Cumulative mandatorily redeemable common and preferred stock liability 1,048,000 1,000,000
Operating lease liability 751,000 878,000
Total liabilities 22,112,000 29,853,000
Commitments and Contingencies (Note 17)
Stockholder’s deficit:    
Convertible preferred stock ($0.0001 par value, 5,000,000 and 5,972,716 shares authorized as of December 31,2025 and December 31, 2024, respectively; Nil and 5,950,673 shares issued as of December 31, 2025 and December 31, 2024, respectively; Nil and 5,950,673 shares outstanding as of December 31, 2025 and December 31, 2024) 7,865,000
Common stock ($0.0001 par value, 500,000,000 shares and 15,924,202 shares authorized as of December 31,2025 and December 31, 2024; 29,377,169 and 7,709,867 shares issued as of December 31,2025 and December 31,2024 respectively; 28,938,266 shares and 7,264,192 shares outstanding as of December 31,2025 and December 31, 2024, respectively) 3,000 1,000
Additional paid in capital 31,311,000 4,699,000
Treasury stock, at cost (Nil and 438,903 as of December 31,2025 and December 31, 2024, respectively) (2,903,000)
Share subscription receivable (11,005,000)
Accumulated deficit (35,145,000) (34,217,000)
Accumulated other comprehensive income 260,000 250,000
Total stockholders’ deficit (14,576,000) (24,305,000)
Total liabilities and stockholders’ deficit $ 7,536,000 $ 5,548,000