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

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash $ 13,699 $ 1,059
Accounts and retention receivables, net 5,356 83
Contract assets 2,058 0
Prepaid and other current assets 2,409 728
Note receivable 64 0
Total current assets 23,586 1,870
Property and equipment, net 8,336 3,129
Intangible assets, net 1,160 1,382
Right-of-use assets 1,775 1,701
Deferred issuance costs 0 1,306
Other assets 126 139
TOTAL ASSETS 34,983 9,527
Current liabilities:    
Accrued expenses and other current liabilities 4,776 1,194
Lease liabilities - current 618 655
Notes payable - current 245 429
Total current liabilities 11,076 3,778
Notes payable - non-current 679 0
Lease liabilities - non-current 984 1,072
Total liabilities 12,739 4,850
Commitments and contingencies (Note 11)
STOCKHOLDERS’ EQUITY:    
Preferred stock, value 0 0
Common stock, value [1] 0 0
Additional paid-in capital 165,185 121,672
Accumulated deficit (142,941) (116,995)
Total stockholders’ equity 22,244 4,677
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 34,983 9,527
Series A Preferred Stock    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value 0 0
Series B Preferred Stock    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value 0 0
Series C Preferred Stock    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value 0 0
Series D Preferred Stock    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value 0 0
Series E Preferred Stock    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value 0 0
Series F Preferred Stock    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value 0 0
Series F-1 Preferred Stock    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value 0 0
Series F-2 Preferred Stock    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value 0 0
Nonrelated Party    
Current liabilities:    
Accounts payable 2,675 1,500
Related Party    
Current liabilities:    
Accounts payable $ 2,762 $ 0
[1] Amounts for both periods presented have been retroactively adjusted to reflect the 1-for-150 reverse stock splits effected on June 25, 2024 and January 30, 2025. See Note 1 for details.