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Related Party Transactions
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 14 - RELATED PARTY TRANSACTIONS

 

Accounts payable

 

As of December 31, 2025 and 2024, the Company recorded accounts payable – related party of $13,956 and 10,399, respectively.

 

Royalty and associated Costs

 

During the years ended December 31, 2025, and 2024, the Company recorded expenses of $54,775 and $121,249, respectively, for the cost of royalties and other associated costs owed to ColoAlert AS (and its successor, Uni Targeting Research AS, collectively “ColoAlert AS”), the company from which the Company exclusively licensed the ColoAlert product. A non-executive director of the Company is also an owner of ColoAlert AS.

 

As of December 31, 2025 and 2024, the Company had no unpaid balance.

 

Restructuring

 

During July 2024 and October 2024, the Company restructured its operations to focus on its ColoAlert business in Europe, the development of its next generation product, and planning for the Early Detect 2 clinical study in the U.S. in 2025. In line with that focus, the Company implemented cost reduction efforts which included the reduction of its operating costs, including the reduction of personnel by 65%, reduction of external consulting costs, and the sale of its European Oncology Lab (“EOL”) business in St. Ingbert, Germany to a related party. The sale of the EOL business included a payment to the Company of €31,511 ($32,785). Additionally, the Company amended the employment contracts of its CEO and CFO, reducing the salaries of those officers to 60% and 50% of their original salaries, respectively, effective November 1, 2024. For the year ended December 31, 2024, the Company recorded severance expenses and impairment loss from this transaction of $277,160 as restructuring expense and gain on sale of EOL of $28,328.

 

Related Party Sales

 

After the Sale of EOL to a related party effective September 1, 2024, EOL became a regular customer of the Company. The Company recognized revenue of $164,148 and $61,569, respective during the years ended December 31, 2025 and 2024 and the Company recorded accounts receivable of $61,030 and $17,238, respective, as of December 31, 2025 and 2024.