Quarterly report [Sections 13 or 15(d)]

Promissory Notes (Tables)

v3.26.1
Promissory Notes (Tables)
6 Months Ended
Jun. 30, 2026
Short-Term Debt [Line Items]  
Schedule of Fair Value Derivative Liability

The schedule below shows the change in the fair value of the derivative liability for the December 15, 2025 DNA Holdings Note (in thousands of dollars):

 

    Activity
Beginning balance (December 15, 2025)   $ 171  
Balance at December 31, 2025     171  
Fair value adjustment March 31, 2026     227  
Balance at March 31, 2026     398  
Fair value adjustment May 26, 2026     (107 )
Ending value prior to derecognition (May 26, 2026)   $ 291  
Schedule of Change in Fair Value of the Derivative Liability

For the DNA Holdings May 26, 2026 Note (in thousands of dollars):

 

    2026     2025  
Beginning balance (May 26, 2026)   $ 679     $  
Fair value adjustment     118        
Ending value (June 30)   $ 797     $  
Asset Purchase Agreement. | Streeterville Capital LLC  
Short-Term Debt [Line Items]  
Schedule of Components of Net Carrying Amount

The following table presents the components of the net carrying amount of the only outstanding note as of December 31, 2025:

 

       
Principal   $ 5,652  
Less: unamortized debt discount and debt issuance costs     (587 )
Long term debt   $

5,065

 
Current portion   $ 5,065  
Long-term portion   $  
Schedule of Interest Expense

The following table sets forth total interest expense recognized related to the Streeterville notes and the DNA Holdings December 15, 2025 note, and financing fees from factored accounts receivable for the three and six months ended June 30, 2026 (in thousands of dollars):

 

    Three Months Ended June 30, 2026     Six Months Ended June 30, 2026  
Contractual interest expense   $ 49     $ 80  
Amortization of debt discount and issuance costs     91       134  
Financing costs on factored accounts receivable           57  
Interest expense   $ 140     $ 271  
 
   

Three Months Ended June 30, 2025

   

Six Months Ended June 30, 2025

 
Contractual interest expense   $ 76     $ 106  
Amortization of debt discount     45       64  
Amortization of debt issuance costs     40       62  
Interest expense   $ 161     $ 232  
 
DNA Holdings Ventures Inc.  
Short-Term Debt [Line Items]  
Schedule of Components of Net Carrying Amount

The following table presents the components of the net carrying amount of the New DNA Note that is from a related party. This is the only note outstanding as of June 30, 2026. (in thousands of dollars):

 

       
Principal   $ 3,053  
Less: unamortized debt discount     (653 )
Current portion   $ 2,400  
Long term portion   $