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 ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 4,744,000 $ 10,810,000
Inventory 242,000 244,000
Prepaid expenses and other current assets 225,000 282,000
Total current assets 6,875,000 13,405,000
Non-current assets    
Property and equipment, net 5,370,000 5,763,000
Intellectual property, net 46,000 76,000
Other assets 331,000 462,000
Total non-current assets 5,747,000 6,301,000
Total assets 12,622,000 19,706,000
Current liabilities    
Accounts payable 393,000 547,000
Accrued Expenses 2,146,000 3,570,000
Lease liability, current portion 289,000 311,000
Total current liabilities 2,828,000 4,428,000
Non-current liabilities    
Lease liability, non-current portion 152,000 281,000
Total liabilities 3,092,000 4,936,000
Commitments and contingencies (see Note 13)
Stockholders’ equity    
Common stock; $0.001 par value; 300,000,000 shares authorized; 3,548,104 and 3,543,978, shares issued and outstanding as of June 30, 2026, respectively and 3,004,898 and 2,999,592 shares issued and outstanding as of December 31, 2025, respectively 4,000 3,000
Additional paid-in capital 288,392,000 285,212,000
Accumulated deficit (278,850,000) (270,416,000)
Treasury stock, at cost; common shares: 4,126 and 5,306 as of June 30, 2026 and December 31, 2025, respectively (16,000) (29,000)
Total stockholders’ equity 9,530,000 14,770,000
Total liabilities and stockholders’ equity 12,622,000 19,706,000
Warrant Liability [Member]    
Non-current liabilities    
Warrant liability 112,000 227,000
Lion Energy Note [Member]    
Current assets    
Note receivable - LION ENERGY, net 1,640,000 2,069,000
Interest receivable - LION ENERGY, net $ 24,000 $ 0