Balance Sheet

v3.25.2

Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current Assets:
Cash and cash equivalents	$ 12,657	$ 6,839
Other receivables	217	402
Prepaid expenses and other current assets	172	200
Property, plant and equipment, held for sale	0	1,165
Total current assets	13,046	8,606
Property, plant and equipment, net	0	371
Other assets	0	250
Operating lease right-of-use asset, net	0	81
Total Assets	13,046	9,308
Current Liabilities:
Accounts payable and accrued expenses	7,500	9,486
Payables and accrued expenses - related party	$ 2,504	$ 2,667
Other Liability, Current, Related Party [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Operating lease liabilities - short-term	$ 0	$ 456
Total current liabilities	10,004	12,609
Deferred income	150	150
Operating lease liabilities - long-term	0	422
Total Liabilities	10,154	13,181
Commitments and Contingencies (Note 10)
Stockholders' Equity (Deficit)
Preferred stock ($0.0001 par value), 2,000,000 shares authorized, 250,000 shares of Class A preferred stock issued and outstanding as of June 30, 2025 and December 31, 2024, respectively	0	0
Common stock issuable, zero and 69,046 shares as of June 30, 2025 and December 31, 2024, respectively	0	611
Additional paid-in capital	400,530	392,234
Accumulated deficit	(397,638)	(396,723)
Total Stockholders' Equity (Deficit)	2,892	(3,873)
Total Liabilities and Stockholders' Equity (Deficit)	13,046	9,308
Class A common shares
Stockholders' Equity (Deficit)
Common stock ($0.0001 par value), 200,000,000 shares authorized as of June 30, 2025 and December 31, 2024, respectively	0	0
Common shares
Stockholders' Equity (Deficit)
Common stock ($0.0001 par value), 200,000,000 shares authorized as of June 30, 2025 and December 31, 2024, respectively	$ 0	$ 5

- Definition

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

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