Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows (Unaudited)

v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (2,958) $ (2,372)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 401 192
Net change in fair value of derivative liability 146 0
Non-cash lease expense 9 8
Amortization of debt discounts and debt issuance costs 69 0
Amortization of debt discounts and debt issuance costs - related party 18 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (54) 9
Deferred offering costs 0 (424)
Accounts payable and accrued liabilities 1,029 800
Accounts payable - related parties 123 (38)
Accrued interest 30 0
Accrued interest - related parties 6 0
Advances from investors 0 236
Fixed cash payments related to operating leases (10) (8)
Net cash used in operating activities (1,191) (1,597)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common shares for cash, net 10,033 0
Proceeds from issuance of convertible notes, net 593 0
Proceeds from exercise of warrants 234 0
Net cash provided by financing activities 10,860 0
Effect of exchange rate changes on cash 4 5
Net change in cash and cash equivalents 9,673 (1,592)
Cash and cash equivalents - beginning of period 600 2,338
Cash and cash equivalents - end of period 10,273 746
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
NON-CASH FINANCING AND INVESTING ACTIVITIES:    
Conversion of convertible notes to common stock 208 0
Common shares issued as a fee in equity purchase agreement $ 145 $ 0