XML 214 R4.htm IDEA: XBRL DOCUMENT v3.25.4
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
REVENUES                    
Engineering services revenue       $ 124,358       $ 249,395 $ 249,395 $ 18,614
OPERATING EXPENSES                    
Research and development costs $ 3,361,858     1,248,189     $ 6,211,043 3,755,549 5,176,932 7,152,913
General and administrative 4,749,399     1,125,121     11,569,376 3,546,510 4,168,576 5,274,603
Depreciation and amortization 287,095     316,711     665,832 1,015,118    
Total operating expenses (8,398,352)     (2,690,021)     (18,446,251) (8,317,177) 10,601,899 14,257,513
OPERATING LOSS (8,398,352)     (2,565,663)     (18,446,251) (8,067,782) (10,353,542) (14,238,899)
OTHER (EXPENSE) INCOME                    
Government grants 267,477     278,905     435,453 566,978 708,004 422,719
Loss on extinguishment of debt               (1,183,289) (1,183,289)  
Interest income 158,056     15,922     169,416 46,183 59,860 107,694
Foreign exchange gain (loss) 33,192     (4,866)     100,270 (437) 617,357 (19,795)
OTHER EXPENSE (880,853)     (184,345)     (3,333,974) (1,344,689) (1,110,903) 74,792
Net loss before income tax (9,279,205)     (2,750,008)     (21,780,225) (9,412,471) (11,464,445) (14,164,107)
Income tax benefit                 20,965 (356,437)
NET LOSS (9,279,205) $ (6,249,127) $ (6,251,893) (2,750,008) $ (3,655,854) $ (3,006,609) (21,780,225) (9,412,471) (11,485,410) (13,807,670)
Less: Net income attributable to noncontrolling interest       60,296       115,134   100,792
Net loss attributable to common stockholders $ (9,279,205)     $ (2,810,304)     $ (21,780,225) $ (9,527,605) $ (11,485,410) $ (13,908,462)
Loss per common share, basic (in dollars per share) $ (7.31)     $ (2.33)     $ (17.16) $ (7.9) $ (16.97) $ (20.6)
Loss per common share, diluted (in dollars per share) $ (7.31)     $ (2.33)     $ (17.16) $ (7.9) $ (16.97) $ (20.6)
Weighted-Average Shares of Common Shares Outstanding, Basic (in shares) 1,269,255     1,206,205     1,269,255 1,206,205 676,659 675,281
Weighted-Average Shares of Common Shares Outstanding, Diluted (in shares) 1,269,255     1,206,205     1,269,255 1,206,205 676,659 675,281
Other comprehensive income (loss), net of tax:                    
Foreign currency translation adjustments $ 27,871 $ 561,554 $ (826,454) $ (84,655) $ 668,858 $ (95,355) $ (237,029) $ 488,848 $ 395,525 $ (153,347)
Comprehensive loss (9,251,334)     (2,834,663)     (22,017,254) (8,923,623) (11,089,885) (13,961,017)
Less: Net income attributable to noncontrolling interest       60,296       115,134   100,792
Comprehensive loss attributable to common stockholders (9,251,334)     (2,894,959)     (22,017,254) (9,038,757) (11,089,885) (14,061,809)
Nonrelated party                    
OTHER (EXPENSE) INCOME                    
Interest expense (1,247,574)     (448,161)     (3,784,907) (685,804) (1,223,929) (400,679)
Loss on extinguishment of debt                 (1,183,289)  
Related party                    
OPERATING EXPENSES                    
Research and development costs 7,083     8,828     28,238 26,948 42,212 45,131
OTHER (EXPENSE) INCOME                    
Interest expense $ (92,004)     $ (26,145)     $ (254,206) $ (88,320) (88,906) $ (35,147)
Loss on extinguishment of debt                 $ (202,204)