The preparation of the unaudited results presented below required the Company to make estimates and judgments that affected certain of the amounts set forth below, including revenue and expense. These estimates and judgments were based on methodologies and assumptions that the Company believes to be reasonable under the circumstances.


	May 26, 2025 through		May 26, 2025 through	May 27, 2024 through
(in thousands, except share and per share amounts)	June 30, 2025			December 31, 2025		December 31, 2024
	(unaudited)					(unaudited)
Revenues	$	4,756		$	43,796	$	39,016
Revenues, related party	3,909			31,725		23,940
Total revenues	8,665			75,521		62,956
Cost of sales	5,529			51,832		46,629
Gross profit	3,136			23,689		16,327
Research and development expenses	705			4,965		4,720
Selling, general, and administrative expenses	3,021			19,457		30,846
Operating loss	(590)			(733)		(19,239)
Interest income	102			273		21
Interest expense	(179)			(1,226)		(2,301)
Interest expense, related party	(2,108)			(14,621)		(10,786)
Change in fair value of debt derivative liability, related party	(125)			(1,573)		1,900
Other income (expense), net	37			256		(215)
Loss before income taxes	(2,863)			(17,624)		(30,620)
Income tax expense	—			(337)		(18)
Net loss	(2,863)			(17,961)		(30,638)
Preferred stock dividends	(286)			(2,049)		(1,903)
Accretion of preferred stock to redemption value	(20)			(117)		(117)
Fair value of conversion ratio improvement to preferred stockholders	—			—		(2,132)
Loss available to common stockholders	$	(3,169)		$	(20,127)	$	(34,790)

Loss per share, basic and diluted	$	(0.09)		$	(0.54)	$	(1.06)

Weighted average shares outstanding, basic and diluted	37,026,234			37,369,709		32,877,532