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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (31,726,600) $ (327,599,700)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash interest expense on debt 186,800 2,817,600
Change in fair value of derivative liability 0 225,916,000
Depreciation and amortization 1,779,200 5,600
Loss on extinguishment of debt 0 542,300
Stock based compensation 17,851,700 84,588,000
Operating lease amortization 222,000 39,600
Change in operating assets and liabilities    
Prepaid expenses and other current assets (381,600) 2,800
Accounts Receivable (15,700) 33,800
Unearned Revenue (764,000) (695,900)
Operating lease liabilities (216,200) (39,200)
Accounts payable and accrued expenses 3,326,600 5,073,100
Net cash used in operating activities (9,737,800) (9,316,000)
Cash flows used in investing activities    
Purchases of property and equipment (3,200) 0
Purchases of short-term investments (6,306,900) 0
Net cash used in investing activities (6,310,100) 0
Cash flows provided by financing activities    
Proceeds of convertible promissory notes 0 47,455,000
Proceeds from merger 0 233,017,500
Repurchase of common stock (8,250,200) 0
Proceeds from the exercise of warrants, net 189,400 0
Net cash (used in) provided by financing activities (8,060,800) 280,472,500
Net change in cash and cash equivalents (24,108,700) 271,156,500
Cash and cash equivalents, beginning of year 170,236,100 2,572,700
Cash and cash equivalents, end of quarter 146,127,400 273,729,200
Reconciliation of cash and cash equivalents and restricted cash to the condensed consolidated balance sheets    
Cash and cash equivalents 146,127,400 233,700,900
Restricted cash 0 40,028,300
Total cash and cash equivalents and restricted cash, end of period 146,127,400 273,729,200
Supplemental disclosure of cash flow information    
Cash paid for interest 0 0
Cash paid for taxes 0 0
Noncash investing and financing activities    
Shares issued for conversion of convertible notes $ 0 $ 300,426,000