Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net Loss $ (4,154,461) $ (3,923,401)
Adjustments to reconcile net loss to net cash from operating activities:    
Inventory reserve 25,925 1,644
Depreciation expense 425,243 17,231
Amortization expense 18,341 0
Unrealized gain on marketable equity securities 0 (18,888)
Realized gain on marketable equity securities (98,936) 0
Stock-based compensation – shares 296,194 309,062
Stock based compensation – options 6,849 30,852
Changes in operating assets and liabilities:    
Accounts receivable (120,362) (1,541)
Inventories 37,628 (13,943)
Other receivable 20,000 0
Prepaid expenses 289,977 (6,665)
Deposit 16,135 2,604
Operating lease right-of-use asset 53,233 72,298
Accounts payable and accrued liabilities 248,865 (14,347)
Other current liabilities 257,337 (68,204)
Lease liabilities (64,651) (95,806)
Net cash flows used in operating activities (2,742,684) (3,709,104)
Cash flows from investing activities:    
Purchase of property and equipment (6,656,391) (27,318)
Capitalized software costs (97,844) 0
Proceeds from sale of marketable securities 121,823 0
Net cash flows used in investing activities (6,632,412) (27,318)
Cash flows from financing activities:    
Redemption of preferred stock (961,860) 0
Repayment on bank loan (81,891) 0
Shares issued for pre-funded units 3,547,348 0
Proceeds from stock issuance and warrant exercises 3,720,676 822,501
Purchases of treasury stock (354,143) (249,675)
Net cash flows provided by financing activities 5,870,130 572,826
Effect of exchange rate 10,239 (14,838)
Net change in cash (3,494,727) (3,178,434)
Cash beginning of period 7,934,958 3,589,318
Cash end of period 4,440,231 410,884
Supplemental cash flow disclosure:    
Cash paid for income taxes 0 3,807
Cash paid for interest 261,602 0
Supplemental disclosure of non-cash investing and financing activities:    
Accretion of redeemable series B preferred stock discount 226,666 0
Conversion of series B preferred stock to common stock 5,127,200 0
Gain on cancellation of preferred stock 83,890 0
Right-of-use assets obtained in exchange for operating lease liabilities 175,271 0
Issuance to bank loan on building acquisition $ 11,050,000 $ 0