Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 1,195 $ 1,303
Receivable for cash held back from the asset sale 1,500
Prepaid expenses and other current assets 608 676
Current assets held for sale 26,930
Total Current assets 3,303 28,909
Investment in DNA X LLC under equity method 1,290 1,242
Deferred tax assets 1,441
Other assets 245 274
Non-current assets held for sale 12,032
Total assets 4,838 43,898
Liabilities and stockholders’ deficit    
Accounts payable 719 4,030
Accrued liabilities 1,576 704
Derivative liability 398 171
Income tax payable 556 2,598
Current liabilities held for sale 38,057
Total current liabilities 4,321 50,625
Deferred tax liability 600
Total liabilities 4,921 50,625
Commitments and contingencies (Note 9)
Redeemable common stock; $0.001 par value; 223,201 shares issued and outstanding; redemption value $900 at March 31, 2026 and $1,228 as of December 31, 2025 (Note 6) 900 1,228
Stockholders’ deficit    
Common stock, $0.001 par value per share; 1,000,000,000 shares authorized: and 1,265,067 shares issued and outstanding at both March 31, 2026 and December 31, 2025 [1] 1 1
Preferred stock, $0.001 par value per share, 5,000,000 shares authorized: and no shares issued and outstanding at March 31, 2026 and December 31, 2025
Additional paid-in capital [1] 296,613 296,309
Accumulated deficit (297,597) (304,265)
Total stockholders’ deficit (983) (7,955)
Total liabilities, redeemable common stock, and stockholders’ deficit 4,838 43,898
Related Party [Member]    
Liabilities and stockholders’ deficit    
Promissory notes, net 1,072 1,035
Nonrelated Party [Member]    
Liabilities and stockholders’ deficit    
Promissory notes, net $ 4,030
[1] Adjusted retroactively to reflect the 1-for-18 reverse stock split that became effective on October 28, 2025, see Note 1.