v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (363,216,100) $ (49,011,500)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash interest expense on debt 2,780,100 37,702,500
Change in fair value of derivative liability 225,916,000 660,200
Depreciation and amortization 771,500 48,300
Loss on extinguishment of debt 542,300 0
Stock based compensation 84,633,700 0
Operating lease amortization 201,200 3,800
Prepaid expenses and other current assets (3,751,400) (1,600)
Accounts Receivable 66,100 197,200
Unearned Revenue (2,453,500) 0
Accounts payable and operating lease liabilities 1,870,100 (66,100)
Net cash used in operating activities (52,640,000) (10,467,200)
Cash flows used in investing activities    
Purchases of property and equipment (5,031,200) (2,200)
Purchase of intangible asset (7,000,000) 0
Purchase of short-term investments (300,742,500) 0
Net cash used in investing activities (312,773,700) (2,200)
Cash flows provided by financing activities    
Proceeds from convertible promissory notes 47,455,000 2,500,000
Proceeds from merger 233,017,500 0
Repurchase of Common Stock (2,908,700) 0
Proceeds from the issuance of Common Stock 339,463,100 0
Proceeds from the exercise of Warrants 117,949,800 0
Net cash provided by financing activities 734,976,700 2,500,000
Net change in cash and cash equivalents 369,563,000 (7,969,400)
Cash and cash equivalents, beginning of period 2,572,700 9,808,400
Cash and cash equivalents, end of period 372,135,700 1,839,000
Supplemental disclosure of cash flow information    
Cash paid for interest 126,400 0
Cash paid for taxes 1,897,700 0
Noncash investing and financing activities    
Shares issued for conversion of convertible notes 350,426,000 0
Operating lease assets obtained in exchange for operating lease obligations 2,703,000 0
Common Stock issued for business combination 132,171,000 0
Common Stock Issued for underwriter fees $ 10,107,500 $ 0