XML 74 R36.htm IDEA: XBRL DOCUMENT v3.26.1
Stockholders’ Equity (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Schedule of Authorized, Issued and Outstanding Stock
The number of authorized, issued and outstanding stock, were as follows:
March 31, 2026
Authorized
Shares		Issued Shares
Preferred Stock12,087,265 — 
Series B Preferred Stock12,000,000 6,128,378 
Class A Common Stock307,855,751 282,409,695 
Class B Common Stock4,429,688 6,667 
336,372,704 288,544,740 
December 31, 2025
Authorized
Shares		Issued Shares
Preferred Stock5,931,000 1 
Series B Preferred Stock12,000,000 7,184,760 
Class A Common Stock228,041,297 199,130,727 
Class B Common Stock4,429,688 6,667 
250,401,985 206,322,155 
Schedule of Stockholders' Equity Note, Warrants or Rights
The number of outstanding warrants to purchase the Company’s Class A Common Stock as of March 31, 2026 were as follows:
Number of WarrantsExercise PriceExpiration Date
Ares Warrants⁽¹⁾
5,776,657 $1.16August 5, 2027
SPA Warrants⁽¹⁾
5,415 
(a) $0.24 or(b) $1.16 or (c) $8,568.00
Various through March 2, 2033
Junior SPA Warrants⁽¹⁾
524,810 $1.02Various through September 30, 2029
2024 Unsecured SPA Warrants⁽¹⁾
6,185,791 $1.05Various through January 21, 2030
2025 March Unsecured SPA Warrants(2)
9,047,744 
(a) $1.05 or (b) $1.46
Various through March 31, 2031
2025 July Unsecured SPA Warrants⁽¹⁾
4,142,857 $2.02August 22, 2030
Public Warrants⁽¹⁾
2,453 $110,400.00July 21, 2026
Private Warrants⁽¹⁾
12 $110,400.00July 21, 2026
25,685,739
1Classified as equity.
2
Of the total 2025 March Unsecured SPA Warrants, 6,998,564 warrants were liability classified, pending formal closing and are measured at fair value. See Note 15 — Fair Value of Financial Instruments.
The number of outstanding warrants to purchase the Company’s Class A Common Stock as of December 31, 2025 were as follows:
Number of WarrantsExercise PriceExpiration Date
Public Warrants(1)
2,453 $110,400.00 July 21, 2026
Private Warrants(1)
12 $110,400.00 July 21, 2026
SPA Warrants(1)
5,259 $1.16 Various through November 25, 2032
Junior Secured SPA Warrants(1)
524,810$1.16 Various through September 30, 2029
2024 Unsecured SPA Warrants(1)
6,185,791 $1.22 Various through January 21, 2030
2025 March Unsecured SPA Warrants(2)
5,178,828 
(a) $1.39 or (b) $1.46
Various through December 31, 2030
2025 July Unsecured SPA Warrants(1)
4,142,857$2.02 August 22, 2030
Ares warrants(1)
5,776,657 $1.16 August 5, 2027
21,816,667 
1Classified as equity.
2
Of the total 2025 March Unsecured SPA Warrants, 3,129,648 warrants were liability classified, pending formal closing and are measured at fair value. See Note 15 — Fair Value of Financial Instruments.
As a result of the business acquisition of AIXC, as described in Note 3 Goodwill Associated with Business Acquisition, the Company consolidates AIXC warrants, and the number of outstanding warrants to purchase AIXC’s Class A Common
Stock as of March 31, 2026 was as follows:
Number of WarrantsExercise PriceExpiration Date
Preferred Warrants - AIXC(1)
107 $1,270.25Various through 2027
Other Warrants - AIXC(1)
72,004 
(a) $5.82 or (b) $6.50
Various in 2028-2029
2024 Pre-funded Warrants - AIXC(2)
51,199 $0.05Indefinite
2024 Placement Agent Warrants - AIXC(2)
16,019 $7.80September 2029
2025 Placement Agent Warrants - AIXC(1)
1,087,266 $2.47September 2030
1,226,595
1Classified as equity.
2 Liability classified and are measured at fair value. See Note 15
The number of outstanding warrants to purchase AIXC’s Class A Common Stock as of December 31, 2025 was as follows:

Number of WarrantsExercise PriceExpiration Date
Preferred Warrants - AIXC(1)
160 $1,270.25Various through 2027
Other Warrants - AIXC(1)
72,004 
(a) $5.82 or (b) $6.50
Various in 2028-2029
2024 Pre-funded Warrants - AIXC(2)
51,199 $0.05Indefinite
2024 Placement Agent Warrants - AIXC(2)
16,019 $7.80September 2029
2025 Placement Agent Warrants - AIXC(1)
1,087,266 $2.47September 2030
1,226,648
1Classified as equity.
2 Liability classified and are measured at fair value. See Note 15