Quarterly report [Sections 13 or 15(d)]

Statements of Mezzanine Equity and Stockholders??? Deficit (Unaudited)

v3.25.2
Statements of Mezzanine Equity and Stockholders’ Deficit (Unaudited) - USD ($)
$ in Thousands
Series B-1 Preferred Stock
Common Stock
Series A-2 Preferred Stock
Series A-2 Prime Preferred Stock
Additional Paid-In Capital
Accumulated Deficit
Series B-2 Preferred Stock
Series A-3 Preferred Stock
Total
Balance at Dec. 31, 2023 $ 35 $ 60,697 $ (64,541)     $ (3,809)
Balance (in Shares) at Dec. 31, 2023 3,475,605 43,649          
Net income (loss) (20,963)     (20,963)
Issuance of Series B-1 preferred stock, net of issuance costs $ 46,187    
Issuance of Series B-1 preferred stock, net of issuance costs (in Shares) 50,000                
Dividends Paid on Series B-1 preferred stock (208)     (208)
Exchange of Series A-2 preferred stock for Series A-2 Prime preferred stock    
Exchange of Series A-2 preferred stock for Series A-2 Prime preferred stock (in Shares)     (43,649) 21,388.01          
Conversion of Series A-2 Prime preferred stock into common stock $ 2 (2)    
Conversion of Series A-2 Prime preferred stock into common stock (in Shares)   285,000   (1,396.5)          
Issuance of common stock for exercise of options 2     2
Issuance of common stock for exercise of options (in Shares)   58              
Stock-based compensation expense 522     522
Balance at Mar. 31, 2024 $ 46,187 $ 37 61,011 (85,504)     (24,456)
Balance (in Shares) at Mar. 31, 2024 50,000 3,760,663   19,991.51          
Balance at Dec. 31, 2023 $ 35 60,697 (64,541)     (3,809)
Balance (in Shares) at Dec. 31, 2023 3,475,605 43,649          
Net income (loss)                 (11,108)
Balance at Jun. 30, 2024 $ 46,187 $ 43 60,760 (75,649)     (14,846)
Balance (in Shares) at Jun. 30, 2024 50,000 4,357,321 17,073.07          
Balance at Mar. 31, 2024 $ 46,187 $ 37 61,011 (85,504)     (24,456)
Balance (in Shares) at Mar. 31, 2024 50,000 3,760,663   19,991.51          
Net income (loss) 9,855     9,855
Dividends Paid on Series B-1 preferred stock (887)     (887)
Conversion of Series A-2 Prime preferred stock into common stock $ 6 (6)    
Conversion of Series A-2 Prime preferred stock into common stock (in Shares)   595,600   (2,918.44)          
Issuance of common stock for exercise of options 1     1
Issuance of common stock for exercise of options (in Shares)   1,058              
Stock-based compensation expense 641     641
Balance at Jun. 30, 2024 $ 46,187 $ 43 60,760 (75,649)     (14,846)
Balance (in Shares) at Jun. 30, 2024 50,000 4,357,321 17,073.07          
Balance at Dec. 31, 2024   $ 114   108,587 (101,270) 7,431
Balance (in Shares) at Dec. 31, 2024   11,384,236   6,150.21     3,000  
Net income (loss)     570 570
Conversion of Series A-2 Prime preferred stock into common stock   $ 1   1
Conversion of Series A-2 Prime preferred stock into common stock (in Shares)   140,000   (686)          
Issuance of common stock for cash, net of issuance costs   $ 5   2,701 2,706
Issuance of common stock for cash, net of issuance costs (in Shares)   450,738              
Stock-based compensation expense     563 563
Balance at Mar. 31, 2025   $ 120   111,851 (100,700) 11,271
Balance (in Shares) at Mar. 31, 2025   11,974,974   5,464.21     3,000    
Balance at Dec. 31, 2024   $ 114   108,587 (101,270) 7,431
Balance (in Shares) at Dec. 31, 2024   11,384,236   6,150.21     3,000  
Net income (loss)                 (5,877)
Issuance of Series A-3 preferred stock upon exercise of warrants                 $ 2,800
Issuance of common stock for exercise of options (in Shares)                
Balance at Jun. 30, 2025   $ 122   123,454 (107,147) $ 16,429
Balance (in Shares) at Jun. 30, 2025   14,111,852   5,464.21      
Balance at Mar. 31, 2025   $ 120   111,851 (100,700) 11,271
Balance (in Shares) at Mar. 31, 2025   11,974,974   5,464.21     3,000    
Net income (loss)     (6,447) (6,447)
Issuance of Series A-3 preferred stock upon exercise of warrants     1,496 1,496
Issuance of Series A-3 preferred stock upon exercise of warrants (in Shares)               1,495.8  
Conversion of Series B-2 preferred stock into common stock    
Conversion of Series B-2 preferred stock into common stock (in Shares)   300,000         (3,000)    
Conversion of Series A-3 preferred stock into common stock    
Conversion of Series A-3 preferred stock into common stock (in Shares)   277,000           (1,495.8)  
Issuance of common stock for vested restricted stock units      
Issuance of common stock for vested restricted stock units (in Shares)   1,000              
Issuance of common stock for cash, net of issuance costs   $ 2   9,536 9,538
Issuance of common stock for cash, net of issuance costs (in Shares)   1,558,878              
Stock-based compensation expense     571 571
Balance at Jun. 30, 2025   $ 122   $ 123,454 $ (107,147) $ 16,429
Balance (in Shares) at Jun. 30, 2025   14,111,852   5,464.21