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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current Assets    
Cash and cash equivalents $ 3,675 $ 4,491
Vendor advances, net 625 845
Prepaid expenses and other current assets 143 51
Total Current Assets 4,443 5,387
Deferred offering costs 1,279 1,091
Intangible assets, net 22 62
Total Other Assets 1,301 1,153
TOTAL ASSETS 5,744 6,540
Current Liabilities    
Accounts payable and accrued expenses 431 199
Total Current Liabilities 431 199
Commitments and contingencies
Shareholders’ Equity    
Preferred stock, par value $0.001, 20,000,000 shares authorized; no shares issued and outstanding, respectively;
Common stock, par value $0.001, 100,000,000 shares authorized; 21,411,198 and 20,821,353 shares issued and outstanding, respectively; 21 21
Additional paid-in capital 21,208 20,582
Accumulated deficit (15,916) (14,262)
Total Shareholders’ Equity 5,313 6,341
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 5,744 $ 6,540