v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 29,321,363 $ (57,464,890)
Adjustments to reconcile net income (loss) to net cash used in operating activities    
Depreciation and amortization 0 1,861
Stock-based compensation 1,629,992 1,362,822
Amortization of operating lease right of use asset 378,448 222,780
Issuance of common stock for services 0 198,500
Noncash interest expense 0 1,008,419
(Gain) loss from change in fair value of warrant liability (20,852,612) 33,512,633
(Gain) loss from change in fair value of earnout liability (15,401,751) 18,171,380
Loss from change in fair value of convertible note 0 141,636
Loss on note conversion 0 1,144,676
Changes in operating assets and liabilities:    
Accounts receivable (5,235,918) 422,147
Prepaid expenses and other (276,308) 485
Other assets 5,432 16,373
Operating lease liability (384,298) (174,875)
Payroll and income tax receivable 0 7,230
Accounts payable - trade and accrued expenses 366,649 (2,294,698)
Deferred revenue 2,444,179 (2,780,447)
NET CASH USED IN OPERATING ACTIVITIES (8,004,824) (6,503,968)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock and warrants for offering, net 0 7,290,000
Proceeds from warrant exercise, net 9,498,136 7,704,540
Repayment of advances from founders (1,300,000) 0
Advances from founders 0 (450,000)
Proceeds from stock option exercises 149,288 240,507
NET CASH PROVIDED BY FINANCING ACTIVITIES 8,347,424 14,785,047
NET INCREASE IN CASH AND CASH EQUIVALENTS 342,600 8,281,079
Effect from exchange rate on cash (7,409) 9,338
CASH AND CASH EQUIVALENTS, beginning of period 11,414,830 3,124,413
CASH AND CASH EQUIVALENTS, end of period 11,750,021 11,414,830
Supplemental disclosures of cash flow information:    
Interest paid 0 11,913
Taxes paid 0 2,410
Noncash investing and financing    
Issuance of common stock for debt interest payment 0 1,008,442
Issuance of common stock for debt conversion 0 4,114,831
Issuance of common stock for earnout shares 5,282,125 0
Recognition of operating lease liability 304,339 0
Recognition of operating right-of-use asset $ 304,339 $ 0

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