Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows (Unaudited)

v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (7,153) $ (8,713)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 617 774
Net change in fair value of derivative liabilities 146 0
Net change in fair value of digital assets 0 (75)
Non-cash lease expense 28 26
Gain on extinguishment of debt (42) 0
Common shares issued as commitment fee 500 0
Amortization of debt discounts and debt issuance costs 84 137
Amortization of debt discounts and debt issuance costs - related party 24 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (65) 111
Accounts payable and accrued liabilities (2,761) 2,140
Accounts payable - related parties (221) (29)
Accrued interest 15 46
Accrued interest - related party 8 0
Fixed cash payments related to operating leases (29) (26)
Net cash used in operating activities (8,849) (5,609)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of digital assets 0 (250)
Net cash used in investing activities 0 (250)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common shares for cash, net 13,069 4,391
Proceeds from issuance of convertible notes, net 593 737
Proceeds from exercise of warrants 237 132
Repayment of convertible notes (1,035) 0
Repayment of convertible notes - related parties (207) 0
Net cash provided by financing activities 12,657 5,260
Effect of exchange rate changes on cash 29 (19)
Net change in cash and cash equivalents 3,837 (618)
Cash and cash equivalents - beginning of period 600 2,338
Cash and cash equivalents - end of period 4,437 1,720
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 commitment fee $ 500 $ 0