XML 25 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
Going Concern Matters and Realization of Assets
12 Months Ended
Dec. 31, 2024
Going Concern Matters and Realization of Assets  
Going Concern Matters and Realization of Assets

2.Going Concern Matters and Realization of Assets

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company is a business that has not yet generated profits, incurred a net loss of $16.3 million during the year ended December 31, 2024, and has an accumulated deficit of $68.0 million as of December 31, 2024.

The Company’s ability to continue as a going concern in the next twelve months following the date these financial statements were available to be issued is dependent upon its ability to produce revenues, raise capital, and/or obtain other financing sufficient to meet current and future obligations. Management has evaluated these conditions and believes its current cash balances, plus the additional capital available under the Common Stock Purchase Agreement and At the Market Common Stock Offering described in Note 7, will be sufficient for the Company to satisfy its near-term capital needs and to continue as a going concern for a reasonable period.