Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash $ 10,126,710 $ 14,847,949
Prepaid expenses and other current assets 1,528,667 1,696,513
Total current assets 11,655,377 16,544,462
Property and equipment, net 15,293 16,811
Right-of-use assets 174,008 205,837
Prepaid expenses, long-term 18,743 18,133
Goodwill 12,209,591 11,812,476
Intangible assets 67,919,601 65,710,527
Total assets 91,992,613 94,308,246
Current liabilities:    
Accounts payable 584,602 1,231,805
Accrued expenses 1,957,641 1,894,835
Lease liability, current portion 54,566 49,696
Total current liabilities $ 2,596,809 3,176,336
Debt with related party, net of issuance costs   $ 15,381,077
Other Liability, Noncurrent, Related Party [Extensible Enumeration] Related Party [Member] Related Party [Member]
Lease liability, long-term portion $ 120,212 $ 154,885
Deferred tax liability 11,890,483 11,314,925
Total liabilities 14,607,504 30,027,223
Commitments and contingencies (Note 12)
Series A Non-Voting Convertible Preferred Stock, $0.0001 par value; 2,104 shares authorized and 2,103.1494 shares issued and outstanding at September 30, 2025 and 2,270 shares authorized and 2,213.8044 shares issued and outstanding at December 31, 2024 70,126,957 74,405,362
Stockholders' equity (deficit):    
Common stock, $0.0001 par value; 43,000,000 shares authorized; 2,300,880 and 2,293,162 shares issued and outstanding at September 30, 2025, respectively; and 1,339,896 and 1,332,178 shares issued and outstanding at December 31, 2024, respectively 229 133
Additional paid-in capital 73,158,686 67,856,589
Accumulated deficit (104,295,867) (73,818,946)
Accumulated other comprehensive loss (1,636,135) (3,862,987)
Stockholders' equity before treasury stock 7,557,280 (9,825,211)
Less: Treasury stock, 7,718 shares of common stock at cost (299,128) (299,128)
Total stockholders' equity (deficit) 7,258,152 (10,124,339)
Total liabilities, Series A Non-Voting Convertible Preferred Stock and Stockholders' equity (deficit) 91,992,613 94,308,246
Series A Non-Voting Convertible Preferred Stock    
Stockholders' equity (deficit):    
Preferred stock 5,535,067
Series A-1 Non-Voting Convertible Preferred Stock    
Stockholders' equity (deficit):    
Preferred stock 24,994,461
Series A-2 Non-Voting Convertible Preferred Stock    
Stockholders' equity (deficit):    
Preferred stock 9,800,839
Preferred Stock Excluding Series A, Series A-1 and Series A-2 Non-Voting Convertible Preferred Stock    
Stockholders' equity (deficit):    
Preferred stock