Quarterly report [Sections 13 or 15(d)]

STOCKHOLDERS’ EQUITY (Tables)

v3.26.1
STOCKHOLDERS’ EQUITY (Tables)
6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
SCHEDULE OF WARRANT ACTIVITY

Warrant activity for the six months ended June 30, 2026 was as follows: 

 

   

Number of

Warrants

   

Weighted Average

Exercise Price

 
             
Balance, December 31, 2025     3,882,755     $ 0.08  
Issued            
Expired or rescinded     (283 )      
Exercised     (90,962 )     0.08  
Balance, June 30, 2026     3,791,510     $ 0.08  
SCHEDULE OF EARNINGS PER SHARE BASIC AND DILUTED

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per share of Class A common stock is as follows:

 

                         
    Three months ended June 30,     Six months ended June 30,  
(in thousands, except share and per share data)   2026     2025     2026     2025  
Numerator:                                
Net loss   $ (24,833 )   $ (3,215 )   $ (43,044 )   $ (7,082 )
Less: Net income attributable to non-controlling interests    

            149        
Net loss attributable to Class A common stockholders   $ (24,833 )   $ (3,215 )   $ (43,193 )   $ (7,082 )
Denominator:                                
Weighted average shares of Class A common stock outstanding     4,097,688       126,277       4,075,852       63,562  
Net loss per share of Class A common stock - basic and diluted   $ (6.06 )   $ (25.46 )   $ (10.60 )   $ (111.42 )
SCHEDULE OF OUTSTANDING POTENTIALLY DILUTIVE SECURITIES

The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because their inclusion would be anti-dilutive (in common stock equivalent shares):

 

    2026     2025     2026     2025  
    Three Months Ended June 30,     Six Months Ended June 30,  
    2026     2025     2026     2025  
Stock options to purchase common stock     235,000       1       235,000       1  
Warrants to purchase common stock     3,791,510       3,944       3,791,510       3,944