SUBSEQUENT EVENTS	6 Months Ended
Jun. 30, 2025
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	13. SUBSEQUENT EVENTS The Company has evaluated events and transactions subsequent to June 30, 2025 through the date of this Quarterly Report on Form 10-Q, and any material subsequent events are reported below. Warrant Exercise. In July 2025, the Company issued 100,000 shares of its common stock in connection with the exercise of 100,000 warrants that had been outstanding as of June 30, 2025. The warrant exercise resulted in net cash proceeds to the Company of approximately $1.3 million. The Company also amended the warrant agreement with the warrant holder giving the holder the right, at its discretion, to exercise its remaining outstanding warrants in a cashless manner. As of the date of this Quarterly Report on Form 10-Q, the holder has approximately 206,000 warrants outstanding. One Big Beautiful Bill Act. On July 4, 2025, the One Big Beautiful Bill Act (the “OBBBA”) was enacted in the United States. The OBBBA includes significant changes to federal tax law and other regulatory provisions that may impact the Company. As the legislation was not signed into law until the Company’s third quarter of 2025, the impacts are not included in its operating results for the three and six months ended June 30, 2025. The Company will evaluate the impact of the newly enacted tax law and its impact on the Company's forecasted annual effective tax rate in subsequent periods as required.

SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2025

13. SUBSEQUENT EVENTS

The Company has evaluated events and transactions subsequent to June 30, 2025 through the date of this Quarterly Report on Form 10-Q, and any material subsequent events are reported below.

Warrant Exercise.

In July 2025, the Company issued 100,000 shares of its common stock in connection with the exercise of 100,000 warrants that had been outstanding as of June 30, 2025. The warrant exercise resulted in net cash proceeds to the Company of approximately $1.3 million. The Company also amended the warrant agreement with the warrant holder giving the holder the right, at its discretion, to exercise its remaining outstanding warrants in a cashless manner. As of the date of this Quarterly Report on Form 10-Q, the holder has approximately 206,000 warrants outstanding.

One Big Beautiful Bill Act.

On July 4, 2025, the One Big Beautiful Bill Act (the “OBBBA”) was enacted in the United States. The OBBBA includes significant changes to federal tax law and other regulatory provisions that may impact the Company. As the legislation was not signed into law until the Company’s third quarter of 2025, the impacts are not included in its operating results for the three and six months ended June 30, 2025. The Company will evaluate the impact of the newly enacted tax law and its impact on the Company's forecasted annual effective tax rate in subsequent periods as required.