Catheter Precision, Inc. (VTAK) is primarily focused on cardiac electrophysiology (EP) medical technologies, including the VIVO System for 3D cardiac mapping and LockeT, a suture retention device. The company reported a net loss of $17.7 million for the year ended December 31, 2025, compared to $16.6 million in 2024. Cash and cash equivalents stood at $0.1 million as of December 31, 2025, down from $2.873 million in 2024. Operating activities used $8.3 million in cash in 2025, following $9.3 million used in 2024. The company has an accumulated deficit of $309.5 million as of December 31, 2025. Management has concluded there is substantial doubt about the company's ability to continue as a going concern for the next 12 months. Total revenues increased to $819 thousand in 2025 from $420 thousand in 2024, driven by LockeT sales. LockeT sales increased by $408 thousand in 2025, while VIVO System sales decreased by $12 thousand. The company acquired PeriKard, LLC's pericardial access technology for $119 thousand in January 2025, which was expensed as in-process research and development (IPR&D). This asset was later sold to CEO David Jenkins for de minimis proceeds in December 2025. Cardionomix, a new subsidiary (82% owned), acquired the Cardiac Pulmonary Nerve Stimulation (CPNS) System for $0.3 million in stock and a $1.3 million promissory note in May 2025, also expensed as IPR&D. KardioNav, another new subsidiary (57% owned), was formed in June 2025 to integrate VIVO mapping IP with Chelak's patents for improved pre-ablation mapping. KardioNav secured its own financing. The company raised $4.9 million in net proceeds from securities transactions in 2025, including a $1.5 million cash PIPE financing and $4.0 million gross from an At-the-Market (ATM) offering. In December 2025, $2.7 million in future and accrued royalty rights were exchanged for 9,490 shares of Series J Convertible Preferred Stock (fair value $5.3 million), resulting in a $2.6 million loss on debt extinguishment. Subsequent to year-end, in February and March 2026, the company raised an additional $2.2 million and $1.9 million, respectively, through private placements of common and Series C-1 Preferred Stock. In February/March 2026, the company acquired 100% of FLYTE, a private aviation charter business, and its subsidiary Ponderosa Air, LLC, for $0.8 million cash, a $5.0 million promissory note, and 5,778 shares of Series D Convertible Preferred Stock ($5.8 million stated value). An impairment charge of $7.0 million was recorded for VIVO intangible assets in 2025 due to a sustained decrease in stock price and negative cash flows. Federal net operating loss (NOL) carryforwards of $112.7 million and state NOLs of $56.0 million as of December 31, 2025, were reduced to $66.3 million and $15.4 million, respectively, due to Section 382 ownership changes in 2024 and 2025. Material weaknesses in internal control over financial reporting identified in 2024 were remediated as of December 31, 2025.