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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net loss $ (11,033) $ (948)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation expense 3 2
Amortization of debt discounts and issuance costs 2,104 45
Stock-based compensation expense 352 0
Change in fair value of warrant liability 18 0
Amortization of right-of-use assets 39 35
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (836) (7)
Accounts payable 4,860 77
Accrued expenses 1,106 590
Operating lease liabilities (43) (35)
Cash used in operating activities (3,430) (241)
Investing activities:    
Purchase of property and equipment (8) 0
Cash used in investing activities (8) 0
Financing activities:    
Advances from employees 190 35
Repayment of advances from employees (195) (30)
Proceeds from issuance of non-convertible promissory note 0 125
Proceeds from issuance of convertible promissory note 0 125
Proceeds from issuance of common stock 1,250 0
Proceeds from issuance of bridge promissory note 12,250 0
Proceeds from warrant exercise 12 0
Net liabilities assumed in connection with reverse recapitalization (2,939) 0
Payment of reverse recapitalization costs (2,984) 0
Payment of deferred stock issuance costs (517) 0
Payment of debt issuance costs (150) 0
Cash provided by financing activities 6,917 255
Net increase in cash and cash equivalents 3,479 14
Cash and cash equivalents at beginning of period 9 90
Cash and cash equivalents at end of period 3,488 104
Non-cash investing and financing activities:    
Issuance of stock for repayment of bridge promissory note 3,333 0
Recognition of debt discount and additional paid-in-capital for issuance of warrants in connection with the issuance of promissory notes 532 90
Issuance of stock for payment of reverse recapitalization costs 1,875 0
Issuance of warrants for payment of stock issuance costs 18 0
Merger costs included in accounts payable $ 72 $ 0