Balance Sheet

v3.25.4

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 5,882,498	$ 68,415,741
Short-term investments	19,854,723	0
Prepaid expenses	504,890	201,962
Other current assets	852,036	2,209,544
Total current assets	27,094,147	70,827,247
Property and equipment, net	898,930	1,432,752
Operating lease right-of-use asset	266,646	449,864
Other assets	53,910	53,910
Total assets	28,313,633	72,763,773
Current liabilities
Accounts payable	2,033,431	569,252
Accrued payroll liabilities	1,269,474	1,114,255
Other current liabilities	2,643,840	654,201
Estimate for accrued legal contingencies and related expenses	2,069,067	1,818,751
Operating lease liability, current portion	189,647	182,428
Total current liabilities	8,205,459	4,338,887
Non-current liabilities
Operating lease liability, net of current portion	83,999	273,162
Total liabilities	8,289,458	4,612,049
Commitments and contingencies (Note 12)
Stockholders’ equity
Preferred stock, $0.001 par value; 200,000 shares authorized at December 31, 2025 and 2024; no shares issued and outstanding at December 31, 2025 and 2024	0	0
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2025 and 2024, respectively; 33,378,139 and 30,974,559 shares issued and outstanding at December 31, 2025 and 2024, respectively	33,379	30,975
Additional paid-in-capital	206,865,282	199,070,421
Accumulated deficit	(186,874,486)	(130,949,672)
Total stockholders’ equity	20,024,175	68,151,724
Total liabilities and stockholders’ equity	$ 28,313,633	$ 72,763,773

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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