Annual report [Section 13 and 15(d), not S-K Item 405]

Note 7 - Stockholders' Equity and Equity-linked Instruments (Tables)

v3.26.1
Note 7 - Stockholders' Equity and Equity-linked Instruments (Tables)
12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Allocated Proceeds and Offering Costs [Table Text Block]
    Allocated     Allocated  
   

Proceeds

   

Offering Costs

 

PIPE Shares - Common stock

  $ 2,126,000     $ 146,000  

PIPE Pre-Funded Warrants

    9,415,000       646,000  

PIPE Warrants

    8,459,000       580,000  

Total gross proceeds

  $ 20,000,000     $ 1,372,000  
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
   

Warrants

   

Fair Value

 

Classification

PIPE Lead Warrants

    766,667     $ 17,408,000  

Equity / Additional-paid-in capital

PIPE Placement Agent Warrants

    41,667       857,000   Equity / Additional-paid-in capital
Schedule of Stock by Class [Table Text Block]
       

Preferred Stock

   

Proceeds

   

Conversion Shares – Common

Stock

   

Other

 

Series

Designation

 

Closing

Date

 

Conversion

Prices (2)(3)(4)(7)

   

Shares

Purchased/

Exchange (6)

   

Conversions

/Exchanges

   

Outstanding-

December 31, 2025

   

Gross

Proceeds

   

Fees

   

Net

Proceeds

   

Original

   

Conversions

/Exchanges (5)

   

December 31, 2025

   

Placement

Agent

Warrants (1)

 

A

 

November 22,

2022

  $ 5,956.80       5,359       (5,359 )     -     $ 5,359,000     $ 697,000     $ 4,662,000       1,000       (1,000 )     -       -  

A-2

 

November 28,

2022

  $ 6,379.20       1,297       (1,297 )     -       1,297,000       169,000       1,128,000       -       -       -       -  

A-3

 

November 30,

2022

  $ 6,436.80       1,733       (1,733 )     -       1,733,000       225,000       1,508,000       -       -       -       -  

A-4

 

December 22,

2022

  $ 3,648.00       1,934       (1,934 )     -       1,934,000       251,000       1,683,000       1,000       (1,000 )     -       -  

A-5

 

January 31,

2023

  $ 5,323.20       2,299       (2,299 )     -       2,299,000       299,000       2,000,000       -       -       -       -  

AA

 

April 19,

2023

 

$4,526.40/$907.20

      7,680       (7,630 )     50       7,680,000       966,000       6,714,000       9,000       (8,000 )     1,000       -  

AA-2

 

April 20,

2023

 

$5,006.40/$1,003.20

      1,500       (1,500 )     -       1,500,000       130,000       1,370,000       2,000       (2,000 )     -       -  

AA-3

 

April 28,

2023

 

$4,560.00/$912.00

      1,025       (1,025 )     -       1,025,000       133,000       892,000       1,000       (1,000 )     -       -  

AA-4

 

May 5,

2023

 

$4,454.40/$892.80

      1,026       (1,026 )     -       1,026,000       133,000       893,000       1,000       (1,000 )     -       -  

AA-5

 

May 26,

2023

 

$5,088.00/$1,017.60

      550       (550 )     -       550,000       72,000       478,000       1,000       (1,000 )     -       -  

AAA

 

November 30,

2023

 

$801.60/$240.96

      9,388       (9,388 )     -       5,377,000       645,000       4,732,000       39,000       (39,000 )     -       2,000  

AAA-2

 

December 22,

2023

 

$820.80/$246.24

      5,334       (5,314 )     20       2,978,000       357,000       2,621,000       7,000       (7,000 )     -       1,000  

AAA-Junior

 

June 26,

2024

 

$600.00/$180.00

      1,210       (1,210 )     -       1,210,000       145,000       1,065,000       7,000       (7,000 )     -       -  

AAA-Junior-2

 

July 10,

2024

 

$600.00/$180.00

      551       (551 )     -       551,000       66,000       485,000       3,000       (3,000 )     -       -  

AAA-Junior-3

 

September 20,

2024

 

$600.00/$180.00

      697       (697 )     -       697,000       84,000       613,000       4,000       (4,000 )     -       -  

AAA-Junior-4

 

September 30,

2024

 

$600.00/$180.00

      399       (399 )     -       399,000       48,000       351,000       2,000       (2,000 )     -       -  

AAAA-Junior (8)

 

July 14,

2025

  $ 58.92       3,394,964       (3,297,551 )     97,413       -       -       -       58,000       (56,000 )     2,000       -  

B (9)

 

September 29,

2025

  $ 84.00       16,321       (16,321 )     -       -       -       -       194,000       (194,000 )     -       -  

C (10)

 

November 6, 2025

  $ 12.00       1,153       -       1,153               -               96,000       -       96,000          
                  3,454,420       (3,355,784 )     98,636     $ 35,615,000     $ 4,420,000     $ 31,195,000       426,000       (327,000 )     99,000       3,000  
Share-based Payment Arrangement, Warrants, Activity [Table Text Block]
   

2025

   

2024

 

Series AAA Junior-3 and Series AAA Junior-4 Warrants:

               

Beginning balance

  $ 348,000     $ -  

Initial fair value of warrant liability – grant date (1)

    -       346,000  

Change in fair value

    (346,000 )     2,000  

Subtotal - Fair value of warrant liability - Series AAA Junior -3 and Series AAA Junior – 4 Warrants

  $ 2,000     $ 348,000  
                 

Placement Agent Warrants:

               

Beginning balance

  $ 587,000     $ 1,571,000  

Initial fair value of warrant liability – grant date (1)

    -       133,000  

Change in fair value

    (581,000 )     (1,117,000 )

Subtotal - Fair value of warrant liability – Placement Agent Warrants

  $ 6,000     $ 587,000  

Total fair value of warrant liability (2)

  $ 8,000     $ 935,000  
Dividends Declared [Table Text Block]

Series Designation

 

Date

 

Dividend

Shares

   

Fair Value

Shares

Issued (1)

 

Series A-5

 

February 4, 2025

    5     $ 1,000  

Series AA

 

April 28, 2025

    530       89,000  

Series AA-3

 

May 1, 2025

    6       1,000  

Series AA-4

 

May 21, 2025

    113       9,000  

Series AA-5

 

May 30, 2025

    10       1,000  

Series AAA / AAA-2

 

October 24, 2025

    7,407       190,000  
          8,071     $ 291,000  

Series Designation

 

Date

 

Dividend Shares

   

Fair Value

Shares

Issued (1)

 

Series A-2

 

November 28, 2024

    120     $ 1,000  

Series A-3

 

November 30, 2024

    253       2,000  

Series A-4

 

December 22, 2024

    483       3,000  

Series A-5

 

January 31, 2024

    181       4,000  

Series AA

 

April 19, 2024

    39,690       661,000  
   

July 23, 2024

    13,239       216,000  

Series AA-3

 

April 29, 2024

    3,430       60,000  
   

July 23, 2024

    3,211       52,000  

Series AA-4

 

May 6, 2024

    4,625       77,000  
   

July 23, 2024

    135       2,000  

Series AA-5

 

May 30, 2024

    4,324       65,000  
   

July 23, 2024

    3,931       64,000  

Series AAA

 

July 23, 2024

    36,003       587,000  
   

December 16, 2024

    61,880       415,000  

Series AAA-2

 

July 23, 2024

    40,858       666,000  
   

December 22, 2024

    29,708       195,000  

Series AAA-Junior

 

July 26, 2024

    16,134       273,000  
   

August 26, 2024

    16,134       240,000  
   

September 24, 2024

    16,134       126,000  

Series AAA-Junior - 2

 

August 9, 2024

    7,347       97,000  
   

September 9, 2024

    7,347       100,000  
   

October 10, 2024

    7,347       90,000  

Series AAA-Junior - 3

 

October 23, 2024

    9,294       105,000  
   

November 19, 2024

    9,294       76,000  
   

December 19, 2024

    9,294       68,000  

Series AAA-Junior - 4

 

October 30, 2024

    5,320       65,000  
   

November 29, 2024

    5,320       36,000  
   

December 30, 2024

    5,320       40,000  
          356,356     $ 4,386,000  
Pipe Purchase Agreement [Member]  
Notes Tables  
Schedule of Warrants, Valuation Assumptions [Table Text Block]

Expected volatility

  93% - 100%

Risk–free interest rate

  3.45% - 3.50%

Dividend yield

      -%

Expected life of warrants (years)

  2

-

3
   

December 31,

2025

   

December 31,

2024

                   

Expected volatility

  153% - 160%       101%  

Risk–free interest rate

  3.47% - 3.64%     4.27% - 4.38%

Expected life of options (in years)

  1.70 - 3.73     2.71 - 4.74