XML 129 R6.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities        
Net loss $ (17,170) $ (16,177) $ (20,795) $ (29,922)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 222 125 173 133
Interest expense and amortization of debt discount on Term Loans (related party) 1,586 432 816
Stock-based compensation for services 152    
Amortization of prepaid insurance 738 809 1,047 602
Stock-based compensation 478 409 562 1,575
Change in fair value of convertible notes payable (related party)     13,332
Change in fair value of warrant liability (related party)     (127)
Change in fair value of private warrant liability 339    
Change in fair value of publicly traded warrant liability (129) 802 330 (942)
Change in fair value of forward purchase agreement warrant liability (522) 329 (411) (842)
Change in fair value of forward purchase agreement put option liability (103) (103) 69
Change in fair value of forward purchase agreement warrant liability due to modification     881
Change in operating lease right-of-use asset (related party) (39) 250 113 113
Change in inventory reserve 68 76 (99)
Changes in operating assets and liabilities:        
Accounts receivable, net 3 (127) 32 (29)
Other receivable 761 144 (604) (176)
Inventories 1 (237) (380) (10)
Prepaid expenses and other current assets (74) 551 9 (853)
Accounts payable 973 203 (19) 551
Operating lease liability (related party) 1 (159) (145) (128)
Accrued expenses 216 (36) (241) (94)
Product warranty liability (120) (73) (181) (244)
Other liability     891
Net cash used in operating activities (12,516) (12,858) (17,949) (17,091)
Cash flows from investing activities        
Purchases of property and equipment (7) (1,514) (980) (153)
Net cash used in investing activities (7) (1,514) (980) (153)
Cash flows from financing activities        
Payments on insurance financing loans (636) (703) (916) (563)
Proceeds from the issuance of Term Loans (related party) 10,000 15,000 20,000
Dividends paid to stockholders of Series A Preferred Stock (1,820) (1,833) (2,447)
Payment made for extinguishment of Term Loans (related party) (100)    
Proceeds from the issuance of convertible notes payable (related party)     10,000
Proceeds from the issuance of Common Stock from ATM offering 414 109
Proceeds from the PIPE Transaction, the forward purchase agreement, and the Business Combination, net of transaction costs     11,736
Proceeds from issuance of Common Stock under employee stock purchase plan 77 63
Proceeds from exercise of forward purchase agreement warrants 158 434 1,815
Proceeds from the issuance of Common Stock and Investor Warrants from registered direct offering 2,500    
Proceeds from the issuance of Common Stock associated with forward purchase agreement, net of transaction costs 1,683 1,683
Net cash provided by financing activities 10,593 14,581 20,198 21,282
Effect of exchange rate changes on cash 3 (3) (5) (3)
Net (decrease) increase in cash (1,927) 206 1,265 4,035
Cash, beginning of period 5,483 4,218 4,218 183
Cash, end of period 3,556 4,424 5,483 4,218
Supplemental disclosures of cash flow information:        
Cash paid for interest 22 25 41 26
Cash paid for income taxes    
Non-cash investing and financing activities:        
Accrued and unpaid dividends on Series A Preferred Stock 1,935 2,277 3,074 1,349
SPAC excise tax liability recognized upon the Business Combination     2,248
Warrants issued with term loans (related party)     1,397
Convertible debt exchanged for equity     27,493
Bridge note exchanged for equity     10,982
Series A Preferred Stock issued to PIPE investor in connection with the Merger     10,000
Prepaid forward purchase agreement     1,384
Extinguishment of excess warrant liability upon exercise of warrants associated with the forward purchase agreement     96
Financing of prepaid insurance 75 843 843 1,115
Deemed capital contribution from related party     18,702
Issuance of Term Loan Warrants (related party) 1,570 1,075    
Accrued interest capitalized into term loans payable (related party) 800    
Modification of forward purchase agreement warrant 62 94 94
Waiver of accrued dividends associated with Sponsor Support Agreement     3,733
Deemed dividend on waiver of restriction on Class A Common Stock     495
Induced conversion of Series A Preferred Stock to Common Stock     1,162
Lease liabilities arising from obtaining right-of-use assets 121 850 528
Extinguishment of excess warrant liability upon exercise of forward purchase agreement warrant 16    
Property and equipment purchased on account 56 $ 117
Modification of Term Loan Warrants (related party) 1,455    
Deemed capital contribution associated with the extinguishment of Term Loans (related party) $ 27,883