Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 4,399,726 $ 864,840
Short-term investments 4,000,000
Interest receivable 53,082
Prepaid expenses and other current assets 1,614,956 607,670
Total current assets 10,067,764 1,472,510
Total assets 10,067,764 1,472,510
Current liabilities:    
Accounts payable and accrued expenses 1,559,011 1,355,867
Short-term notes payable, net of debt issuance costs 227,348 328,528
Total liabilities 1,786,359 1,684,395
Stockholders’ equity (deficit):    
Preferred stock, no par value; 50,000,000 shares authorized; 429,291 Series H and 7,488,692 Series F outstanding at December 31, 2025, and 0 Series H and 7,488,692 Series F outstanding at December 31, 2024.
Common stock, $0.001 par value; 350,000,000 shares authorized; 4,271,529 and 419,003 shares issued and outstanding at December 31, 2025, and December 31, 2024, respectively 4,271 419
Additional paid-in capital 234,905,793 216,573,868
Accumulated deficit (226,628,659) (216,786,172)
Total stockholders’ equity (deficit) 8,281,405 (211,885)
Total liabilities and stockholders’ equity (deficit) $ 10,067,764 $ 1,472,510