XML 17 R6.htm IDEA: XBRL DOCUMENT v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (2,453) $ (1,902)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 11 12
Stock-based compensation expense 431 208
Change in fair value of warrant liabilities (16) 3
Change in fair value of convertible notes (163)
Change in fair value of crypto assets – Bitcoin (102) 662
Change in fair value of SEPA derivative liabilities (179) (324)
Realized loss (gain) on sale of crypto assets – Bitcoin 188 (531)
Non-cash interest 25
Change in operating assets and liabilities:    
Accounts receivable (202) (34)
Prepaid expenses and other current assets 45 (62)
Accounts payable and accrued expenses 445 310
Deferred revenues 290 (58)
Net cash used in operating activities (1,542) (1,854)
Cash flows from investing activities:    
Purchases of property and equipment (2) (5)
Sales of crypto assets – Bitcoin 354 1,925
Net cash provided by investing activities 352 1,920
Cash flows from financing activities:    
Proceeds from Yorkville SEPA 475
Proceeds from subscription agreement 500
Repayment of loans payable (137) (94)
Net cash provided by (used in) financing activities 838 (94)
Net decrease in cash and cash equivalents (352) (28)
Cash and cash equivalents at beginning of period 585 172
Cash and cash equivalents at end of period 233 144
Supplemental disclosures of cash flow information:    
Cash paid for interest 10 5
Cash paid for taxes 1
Supplemental disclosures of non-cash investing and financing activities:    
Issuance of common stock upon partial conversion of Yorkville Note $ 1,094