Significant Accounting Policies (Tables)
|
6 Months Ended |
Jun. 30, 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 June 30, 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 June 30, 2026 |
|
$ |
10,679,782 |
|
|
$ |
- |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 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 |
|
|
June
30, 2026
|
|
|
December
31, 2025
|
|
| Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative
Liabilities |
|
|
3 |
|
|
$ |
1,566,000 |
|
|
$ |
2,157,000 |
|
| Contingent Consideration
Payable |
|
|
3 |
|
|
$ |
- |
|
|
$ |
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 six months ended June 30, 2026 and June 30, 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 |
|
| Changes
in fair value of derivative liabilities |
|
|
(81,000 |
) |
|
|
(19,000 |
) |
| Balance on June 30, |
|
$ |
1,566,000 |
|
|
|
- |
|
|
| 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 Condensed Consolidated Balance Sheet Information Related to Operating Lease |
The
Company’s operating leases are comprised of the 2024 Baltimore Lease on the Condensed Consolidated Balance Sheets. The information
related to these leases is presented below.
Schedule of Condensed Consolidated Balance Sheet Information Related to Operating Lease
| Balance
Sheet Location |
|
Lease |
|
|
Lease |
|
|
Total |
|
|
Lease |
|
|
Lease |
|
|
Total |
|
| |
|
As
of June 30, 2026 |
|
|
As
of December 31, 2025 |
|
| |
|
2024 Baltimore |
|
|
333 Bush Street |
|
|
|
|
|
2024 Baltimore |
|
|
333 Bush Street |
|
|
|
|
| Balance
Sheet Location |
|
Lease |
|
|
Lease |
|
|
Total |
|
|
Lease |
|
|
Lease |
|
|
Total |
|
| Operating Lease |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Lease Right
of Use |
|
$ |
- |
|
|
$ |
371,541 |
|
|
$ |
371,541 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
| Lease Payable, current |
|
|
- |
|
|
|
145,163 |
|
|
|
145,163 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Lease Payable - net of
current |
|
|
- |
|
|
|
226,008 |
|
|
|
226,008 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
| Schedule of Lease Expense |
The
following provides details of the Company’s lease expense:
Schedule of Lease Expense
| Lease
Expenses |
|
Lease |
|
|
Lease |
|
|
Total |
|
|
Lease |
|
|
Lease |
|
|
Total |
|
| |
|
For
the Three Months Ended June
30, 2026
|
|
|
For
the Three Months Ended June
30, 2025
|
|
| |
|
2024 Baltimore |
|
|
333 Bush Street |
|
|
|
|
|
2024 Baltimore |
|
|
333 Bush Street |
|
|
|
|
| Lease
Expenses |
|
Lease |
|
|
Lease |
|
|
Total |
|
|
Lease |
|
|
Lease |
|
|
Total |
|
| Operating Leases |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Lease Costs |
|
$ |
- |
|
|
$ |
17,490 |
|
|
$ |
- |
|
|
$ |
2,700 |
|
|
$ |
- |
|
|
$ |
2,700 |
|
| Lease
Expenses |
|
Lease |
|
|
Lease |
|
|
Total |
|
|
Lease |
|
|
Lease |
|
|
Total |
|
| |
|
For
the Six Months Ended June
30, 2026
|
|
|
For the Six Months Ended
June 30, 2025
|
|
| |
|
2024 Baltimore |
|
|
333 Bush Street |
|
|
|
|
|
2024 Baltimore |
|
|
333 Bush Street |
|
|
|
|
| Lease
Expenses |
|
Lease |
|
|
Lease |
|
|
Total |
|
|
Lease |
|
|
Lease |
|
|
Total |
|
| Operating Leases |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Lease Costs |
|
$ |
- |
|
|
$ |
17,490 |
|
|
$ |
- |
|
|
$ |
10,800 |
|
|
$ |
- |
|
|
$ |
10,800 |
|
|
| Schedule of Other Lease Information |
Other
information as of June 30, 2026, related to leases is presented below:
Schedule of Other Lease Information
| |
|
2024 Baltimore |
|
|
333 Bush Street |
|
|
|
|
| Balance
Sheet Location |
|
Lease |
|
|
Lease |
|
|
Total |
|
| Operating Leases |
|
|
|
|
|
|
|
|
|
|
|
|
| Operating cash used |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
| Weighted
average remaining lease term (in years) |
|
|
- |
|
|
|
1.97 |
|
|
|
1.97 |
|
| Discount rate |
|
|
0.0 |
% |
|
|
10.58 |
% |
|
|
10.58 |
% |
|
| Schedule of Weighted Average Number of Shares Outstanding Earnings Per Share |
For
the three and six months ended June 30, 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 |
|
|
2026 |
|
|
2025 |
|
| |
|
For
the Three Months Ended
June 30, |
|
|
For
the Six Months Ended
June 30, |
|
| |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
| Stock Options |
|
|
348,080 |
|
|
|
603 |
|
|
|
318,758 |
|
|
|
1,216 |
|
| Unvested Restricted Stock Units |
|
|
341,833 |
|
|
|
484 |
|
|
|
369,347 |
|
|
|
484 |
|
| Warrants to purchase Common Stock |
|
|
10,349,656 |
|
|
|
696,853 |
|
|
|
10,367,130 |
|
|
|
696,853 |
|
| Series D Convertible Preferred Stock |
|
|
13 |
|
|
|
13 |
|
|
|
13 |
|
|
|
13 |
|
| Series F Convertible Preferred Stock |
|
|
- |
|
|
|
239,192 |
|
|
|
- |
|
|
|
120,385 |
|
| Series F-1 Convertible Preferred Stock |
|
|
- |
|
|
|
112,718 |
|
|
|
- |
|
|
|
56,731 |
|
| Series G Convertible Preferred Stock |
|
|
2,611,159 |
|
|
|
476,910 |
|
|
|
2,611,159 |
|
|
|
240,027 |
|
| Series H Convertible Preferred Stock |
|
|
923,976 |
|
|
|
- |
|
|
|
923,976 |
|
|
|
- |
|
| Series I Convertible Preferred
Stock |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Total potentially dilutive
shares |
|
|
14,574,717 |
|
|
|
1,526,773 |
|
|
|
14,778,513 |
|
|
|
1,115,709 |
|
|