Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Current Period Unaudited)

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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 6,816,000 $ 10,810,000
Inventory 244,000 244,000
Prepaid expenses and other current assets 313,000 282,000
Total current assets 11,096,000 13,405,000
Non-current assets    
Property and equipment, net 5,566,000 5,763,000
Intellectual property, net 61,000 76,000
Other assets 397,000 462,000
Total non-current assets 6,024,000 6,301,000
Total assets 17,120,000 19,706,000
Current liabilities    
Accounts payable 839,000 547,000
Accrued Expenses 2,457,000 3,570,000
Lease liability, current portion 321,000 311,000
Total current liabilities 3,617,000 4,428,000
Non-current liabilities    
Lease liability, non-current portion 197,000 281,000
Total liabilities 3,994,000 4,936,000
Stockholders’ equity    
Common stock; $0.001 par value; 300,000,000 shares authorized; 3,357,289 and 3,350,604, shares issued and outstanding as of March 31, 2026, respectively and 3,004,898 and 2,999,592 shares issued and outstanding as of December 31, 2025, respectively 3,000 3,000
Additional paid-in capital 287,525,000 285,212,000
Accumulated deficit (274,370,000) (270,416,000)
Treasury stock, at cost; common shares: 6,685 and 5,306 as of March 31, 2026 and December 31, 2025, respectively (32,000) (29,000)
Total stockholders’ equity 13,126,000 14,770,000
Total liabilities and stockholders’ equity 17,120,000 19,706,000
Warrant Liability [Member]    
Non-current liabilities    
Warrant liability 180,000 227,000
Lion Energy Note [Member]    
Current assets    
Note receivable - LION ENERGY, net 3,663,000 2,069,000
Interest receivable - LION ENERGY $ 60,000 $ 0