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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 9 — SEGMENT INFORMATION

 

The Company views its operations and manages its business as one operating and reportable segment, which is the business of designing and developing innovative neurostimulation products. The Company’s focus centers around the treatment of various mental health conditions without the need for drugs or psychotherapy. Consistent with the operational structure, the Chief Executive Officer, as the chief operating decision maker (“CODM”), manages and allocates resources on a consolidated basis. This decision-making process reflects the way in which the financial information is regularly reviewed and used by the CODM to evaluate performance, set operational targets, forecast future financial results, and allocate resources.

 

The Company’s CODM assesses financial performance and allocates resources based on consolidated net loss that also is reported on the consolidated statements of operations and comprehensive loss. The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets. The CODM utilizes consolidated net loss by comparing actual results against budgeted amounts on a quarterly basis. As part of this process, consolidated net loss is a critical performance measure used to evaluate the Company’s operating performance and guide strategic decisions and resource allocations, including additional investments in research and development and commercialization activities.

 

The following table provides information about the Company’s one reportable segment and includes the reconciliation to consolidated net loss.

 

               
    Three Months Ended
June 30,		  
    2025     2024  
Total revenues   $ 70,588     $ 26,840  
Less:                
Cost of revenues (excluding amortization and depreciation)     22,838       7,247  
Research and development expense (excluding share-based compensation expense):                
Clinical trials     122,176       9,587  
Halo Project     90,534       118,299  
Desktop project     11,700       41,524  
Other research and development     1,364       -  
Selling, general and administrative and Salaries and Benefits expense (excluding stock based compensation and amortization expense)     687,012       594,161  
Amortization     5,125       3,793  
Stock based compensation     572,100       308,283  
Professional fees     178,597       240,967  
Interest income, net     (4,690 )     (66 )
Equity in net (income) loss from equity method investees     -       1,291
Other income     (35,181 )     (13,753 )
Segment net loss     (1,580,987 )     (1,284,493 )
                 
Reconciliation of net loss                
Adjustments and reconciling items     -       -  
Consolidated net loss   $ (1,580,987 )   $ (1,284,493 )

 

           
  

Six Months Ended

June 30,

 
   2025   2024 
Total revenues  $111,603   $105,511 
Less:          
Cost of revenues (excluding amortization and depreciation)   36,396    16,403 
Research and development expense (excluding share-based compensation expense):          
Clinical trials   201,578    10,825 
Halo Project   388,571    221,776 
Desktop project   35,413    41,523 
Other research and development   6,500    953 
Selling, general and administrative and Salaries and Benefits expense (excluding stock based compensation  and amortization expense)   1,309,958    1,239,882 
Amortization   9,912    6,454 
Stock based compensation   1,208,945    469,632 
Professional fees   546,413    468,796 
Interest income, net   (5,793)   (370)
Equity in net (income) loss from equity method investees   1,048    (4,492)
Other income   (58,014)   (40,221)
Segment net loss   (3,569,324)   (2,325,650)
           
Reconciliation of net loss          
Adjustments and reconciling items   -    - 
Consolidated net loss  $(3,569,324)  $(2,325,650)