Net revenue for the three months ended March 31, 2026, was $77,570, a significant decrease from $251,936 in the same period of 2025. The company reported a net loss of $28.9 million for Q1 2026, compared to a net loss of $34.6 million in Q1 2025. A major component of the Q1 2026 loss was a $27.8 million non-cash loss resulting from the conversion of Preferred C stock to Preferred D stock. Operating expenses decreased to $1.2 million from $4.4 million in the prior year period, largely due to reduced salaries and compensation. The company ended the quarter with $183,844 in cash, up from $7,169 at the end of 2025.