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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring and nonrecurring basis as of December 31, 2025 and 2024 are as follows:

 

($ in thousands)

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

Description

 

Balance as of
December 31,
2025

 

 

Quoted Prices in
Active Markets
for Identical
Assets/Liabilities
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Cash equivalents

 

$

1,135

 

 

$

1,135

 

 

$

 

 

$

 

 

($ in thousands)

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

Description

 

Balance as of
December 31,
2024

 

 

Quoted Prices in
Active Markets
for Identical
Assets/Liabilities
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Cash equivalents

 

$

779

 

 

$

779

 

 

$

 

 

$

 

Potentially Dilutive Shares Excluded from Computation of Diluted Net Loss Per Share Such potential common shares on December 31, 2025 and 2024 consist of the following:

 

 

December 31,

 

 

2025

 

 

2024

 

Common stock options

 

 

222,485

 

 

 

33,237

 

Warrants

 

 

106,452

 

 

 

26,552

 

Series A-1 Preferred Stock

 

 

181,159

 

 

 

-

 

Series A-2 Preferred Stock

 

 

189,309

 

 

 

-

 

 

 

699,405

 

 

 

59,789

 

Schedule of Net Loss Attributable to Common Shareholders

The following table show the net loss attributable to common shareholders after including undeclared cumulative preferred dividend used to calculate the basic and diluted earnings per share, as shown on the statement of operations (See Note 6. Equity - Series A-1 and A-2 Preferred Stock Cumulative Dividends):

 

 

 

For the years ended December 31,

 

 

 

2025

 

 

2024

 

Net loss

 

$

(4,176

)

 

$

(4,679

)

Cumulative preferred dividends

 

 

(106

)

 

 

-

 

Net loss attributable to common stockholders

 

$

(4,282

)

 

$

(4,679

)