Significant Accounting Policies (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Marketable Securities |
The
following is a description of the valuation methodologies used for assets measured at fair value as of March 31, 2026 and December 31,
2025.
Schedule
of Marketable Securities
Marketable
Securities: Valued using quoted prices in active markets for identical assets.
| |
|
Quoted Prices in
Active Markets
for Identical
Assets or
Liabilities (Level 1)
|
|
|
Quoted Prices for Similar Assets or Liabilities in Active Markets
(Level 2)
|
|
|
Significant
Unobservable
Inputs (Level 3) |
|
| Marketable securities at March 31, 2026 |
|
$ |
11,847,305 |
|
|
$ |
- |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Marketable securities at December 31, 2025 |
|
$ |
14,801,267 |
|
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Fair Value Hierarchy of the Valuation Inputs |
Schedule
of Fair Value Hierarchy of the Valuation Inputs
| |
|
|
|
|
As of |
|
| Description |
|
Level |
|
|
March 31, 2026
|
|
|
December 31, 2025
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative Liabilities |
|
|
3 |
|
|
$ |
1,647,000 |
|
|
$ |
2,157,000 |
|
| Contingent Consideration Payable |
|
|
3 |
|
|
$ |
10,909,000 |
|
|
$ |
10,909,000 |
|
|
| Summary of Change in Fair Value of Derivative Liabilities |
The
following table sets forth a summary of the change in the fair value of the derivative liabilities that is measured at fair value on
a recurring basis for the three months ended March 31, 2026 and March 31, 2025, respectively:
Summary
of Change in Fair Value of Derivative Liabilities
| Description |
|
2026 |
|
|
2025 |
|
| Balance on December 31, 2025 and
2024 |
|
$ |
2,157,000 |
|
|
$ |
1,303,000 |
|
| Changes in fair value of derivative liabilities |
|
|
(510,000 |
) |
|
|
(1,284,000 |
) |
| Balance on March 31, |
|
$ |
1,647,000 |
|
|
|
19,000 |
|
|
| Schedule of Estimated Useful Lives of Property Plant and Equipment |
The
estimated useful lives for the current and comparative periods are as follows:
Schedule
of Estimated Useful Lives of Property Plant and Equipment
| |
|
Useful Life |
| |
|
(in
years) |
| Plant and equipment |
|
5-12 |
| Furniture and fixtures |
|
5-10 |
| Computer equipment & software |
|
3-5 |
| Leasehold Improvements |
|
Shorter of the remaining
lease or estimated useful life |
|
| Schedule of Estimated Useful lives of Intangible Assets |
Amortization
is recognized on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill, from the date that
they are available for use. The estimated useful lives for the current and comparative periods are as follows:
Schedule
of Estimated Useful lives of Intangible Assets
| |
|
Useful Life |
| |
|
(in
years) |
| Patents and trademarks |
|
12-17 |
|
| Schedule of Lease Expense |
The
following provides details of the Company’s lease expense:
Schedule
of Lease Expense
| Lease Expenses |
|
Lease |
|
|
Total |
|
|
Lease |
|
|
Total |
|
| |
|
For the Three Months Ended March 31, 2026
|
|
|
For the Three Months Ended March 31, 2025
|
|
| |
|
2024 Baltimore |
|
|
|
|
|
2024 Baltimore |
|
|
|
|
| Lease Expenses |
|
Lease |
|
|
Total |
|
|
Lease |
|
|
Total |
|
| Operating Leases |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Lease Costs |
|
$ |
- |
|
|
$ |
- |
|
|
|
8,100 |
|
|
$ |
8,100 |
|
|
| Schedule of Weighted Average Number of Shares Outstanding Earnings Per Share |
For
the three months ended March 31, 2026 and 2025, the following securities are excluded from the calculation of weighted average dilutive
Common Stock because their inclusion would have been anti-dilutive.
Schedule
of Weighted Average Number of Shares Outstanding Earnings Per Share
| |
|
2026 |
|
|
2025 |
|
| |
|
For the Three Months Ended
March 31, |
|
| |
|
2026 |
|
|
2025 |
|
| Stock Options |
|
|
100,360 |
|
|
|
603 |
|
| Unvested Restricted Stock Units |
|
|
421,355 |
|
|
|
484 |
|
| Warrants to purchase Common Stock |
|
|
10,386,526 |
|
|
|
725,811 |
|
| Series D Convertible Preferred Stock |
|
|
13 |
|
|
|
13 |
|
| Series F Convertible Preferred Stock |
|
|
- |
|
|
|
3,239,231 |
|
| Series F-1 Convertible Preferred Stock |
|
|
- |
|
|
|
3,651,539 |
|
| Series G Convertible Preferred Stock |
|
|
2,610,863 |
|
|
|
23,664,835 |
|
| Series H Convertible Preferred Stock |
|
|
923,976 |
|
|
|
- |
|
| Total potentially dilutive shares |
|
|
14,443,093 |
|
|
|
31,282,516 |
|
|