v3.26.1
Consolidated Statement of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (10,176,187) $ (7,987,009)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accrued interest 12,393 43,927
Amortization of original issue discount and debt issuance costs 1,197,200
Change in fair value of liability classified warrants (10,096) (16,292)
Consultant compensation 668,682
Stock-based compensation 177,086 110,723
Depreciation expense 6,533
Changes in operating assets and liabilities    
Unbilled receivable (296,230) (26,554)
Prepaid expenses and other assets (438,565) (251,965)
Accounts payable 1,815,658 (578,928)
Accrued expenses and other liabilities 434,434 6,198
Net cash used in operating activities (7,806,292) (7,502,700)
Cash flows from investing activities:    
Investment in property and equipment (123,643)
Net cash flows used in investing activities (123,643)
Cash flows from financing activities:    
Proceeds from public offerings 1,100,007 1,670,001
Proceeds from warrant exercises 2,572,067 2,433,080
Proceeds from warrant inducement, net of issuance costs 2,200,012 8,103,942
Proceeds from issuance of Series B Preferred Stock 3,975,000
Transaction costs associated with public offering and warrant inducements (501,214) (1,468,131)
Transaction costs associated with Series B Preferred Stock issuance (391,376)
Repayment of convertible notes (485,190)
Repayment of financed insurance premiums (216,284) (372,529)
Net cash provided by financing activities 8,738,212 9,881,173
Increase in cash and cash equivalents 808,277 2,378,473
Cash and cash equivalents beginning of period 3,502,077 1,123,604
Cash and cash equivalents end of period 4,310,354 3,502,077
Supplemental cash flow information:    
State minimum tax payments 2,500 3,200
Supplemental disclosure of non-cash investing and financing activities:    
Incremental fair value of August 2024 Warrant Inducement 10,210,616
Incremental fair value of February 2024 Warrant Inducement 5,167,372
Incremental fair value of April 2025 Warrant Inducement 3,483,420
Transaction costs under accounts payable and accrued expenses 119,266
Investment in property and equipment under accounts payable 7,091
Conversion of convertible notes into common stock 1,168,600
Financed insurance premiums 188,046 232,155
Deemed dividend related to warrants down round provision $ 290

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