v3.25.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]    
Revenues $ 3,202
Cost of Revenues 1,314
Gross Profit 1,888
Operating Expenses    
Research and development 3,996 1,381
Sales and marketing 3,231 721
General and administrative 22,022 3,615
Merger-related transaction costs 6,490 1,845
Impairment of intangible assets 2,507
Amortization of intangible assets 622 27
Total Operating Expenses 38,868 7,589
Loss from Operations (36,980) (7,589)
Other Income (Expense)    
Interest expense (1,146) (1,142)
Interest income 364
Amortization of deferred loan costs (17) (88)
Loss on conversion of note receivable to equity investment (2,630)
Loss on extinguishment of convertible notes payable (6,732) (6,635)
Change in fair value of convertible notes payable 12,882 (9,144)
Change in fair value of Damon investment and related warrants (1,068)
Change in fair value of warrant liability (281) (164)
Change in fair value of JV obligation (196)
Other income/(expense), net 21 (108)
Total Other Income (Expense) 1,393 (17,477)
Net Loss, before tax (35,587) (25,066)
Income tax provision (16)
Net Loss (35,603) (25,066)
Less: Preferred stock return and dividend (606)
Less: Deemed dividend (772)
Net Loss Attributable to Common Stockholders, basic (36,981) (25,066)
Net Loss Attributable to Common Stockholders, diluted $ (36,981) $ (25,066)
Net Loss Per Share - Basic (in Dollars per share) $ (162.78) $ (1,576.48)
Net Loss Per Share - Diluted (in Dollars per share) $ (162.78) $ (1,576.48)
Weighted Average Shares Outstanding, Basic (in Shares) 227,193 15,900
Weighted Average Shares Outstanding Diluted (in Shares) 227,193 15,900

Source