Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 4,948,266 $ 6,524,744
Prepaid expenses and other current assets 1,096,585 1,906,462
Total current assets 6,044,851 8,431,206
Property and equipment, net 12,320 12,754
Right-of-use assets 116,543 163,140
Prepaid expenses, long-term 18,390 19,037
Goodwill 11,979,823 12,401,118
Intangible assets 57,436,292 68,985,026
Deferred issuance costs   158,956
Total assets 75,608,219 90,171,237
Current liabilities:    
Accounts payable 169,770 760,945
Accrued expenses 1,935,878 2,241,417
Deferred sublease income 9,405  
Lease liability, current portion 59,082 56,841
Total current liabilities 2,174,135 3,059,203
Deferred sublease income, long-term 28,214  
Lease liability, long-term portion 58,868 105,763
Deferred tax liability 9,213,783 12,109,404
Total liabilities 11,475,000 15,274,370
Commitments and contingencies (Note 13)
Series A Non-Voting Convertible Preferred Stock, $0.0001 par value; 2,104 shares authorized, no shares issued and outstanding at September 30, 2026 and December 31, 2025
Stockholders' equity:    
Common stock, $0.0001 par value; 195,000,000 shares authorized; 34,137,271 and 34,129,553 shares issued and outstanding at September 30, 2026, respectively; and 43,000,000 shares authorized; 29,751,234 and 29,743,516 shares issued and outstanding at December 31, 2025, respectively 3,413 2,974
Additional paid-in capital 196,804,626 183,856,376
Accumulated deficit (129,475,481) (108,076,316)
Accumulated other comprehensive loss (2,900,211) (587,039)
Stockholders' equity before treasury stock 64,432,347 75,195,995
Less: Treasury stock, 7,718 shares of common stock at cost (299,128) (299,128)
Total stockholders' equity 64,133,219 74,896,867
Total liabilities, Series A Non-Voting Convertible Preferred Stock and Stockholders' equity 75,608,219 90,171,237
Series A Non-Voting Convertible Preferred Stock    
Stockholders' equity:    
Preferred stock
Series A-1 Non-Voting Convertible Preferred Stock    
Stockholders' equity:    
Preferred stock
Series A-2 Non-Voting Convertible Preferred Stock    
Stockholders' equity:    
Preferred stock
Preferred Stock Excluding Series A, Series A-1 and Series A-2 Non-Voting Convertible Preferred Stock    
Stockholders' equity:    
Preferred stock