Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 13,227,839 $ 6,524,744
Prepaid expenses and other current assets 1,776,299 1,906,462
Total current assets 15,004,138 8,431,206
Property and equipment, net 12,541 12,754
Right-of-use assets 146,754 163,140
Prepaid expenses, long-term 18,719 19,037
Goodwill 12,193,825 12,401,118
Intangible assets 67,831,894 68,985,026
Deferred issuance costs   158,956
Total assets 95,207,871 90,171,237
Current liabilities:    
Accounts payable 144,400 760,945
Accrued expenses 2,348,737 2,241,417
Deferred sublease income 9,573  
Lease liability, current portion 57,314 56,841
Total current liabilities 2,560,024 3,059,203
Deferred sublease income, long-term 28,718  
Lease liability, long-term portion 87,616 105,763
Deferred tax liability 11,908,161 12,109,404
Total liabilities 14,584,519 15,274,370
Commitments and contingencies (Note 13)
Stockholders' equity:    
Common stock, $0.0001 par value; 43,000,000 shares authorized; 33,409,271 and 33,401,553 shares issued and outstanding at March 31, 2026, respectively; and 29,751,234 and 29,743,516 shares issued and outstanding at December 31, 2025, respectively 3,340 2,974
Additional paid-in capital 195,703,020 183,856,376
Accumulated deficit (113,062,930) (108,076,316)
Accumulated other comprehensive loss (1,720,950) (587,039)
Stockholders' equity before treasury stock 80,922,480 75,195,995
Less: Treasury stock, 7,718 shares of common stock at cost (299,128) (299,128)
Total stockholders' equity 80,623,352 74,896,867
Total liabilities, Series A Non-Voting Convertible Preferred Stock and Stockholders' equity 95,207,871 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