Subsequent Events |
12 Months Ended |
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Dec. 31, 2025 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | 16. Subsequent Events
The Company evaluated subsequent events and transactions that occurred after the consolidated balance sheet date up to the date that the consolidated financial statements were issued.
As previously disclosed on August 22, 2025, the Company received a deficiency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) advising the Company that it was not in compliance with the
minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires companies listed on The Nasdaq Capital Market to maintain stockholders’ equity of at least $2.5 million (the
“Stockholders’ Equity Requirement”). On September 19, 2025, the Company submitted a plan to Nasdaq to regain compliance with the Stockholders’ Equity Requirement (the “Plan”). In response to the Plan, on October 13, 2025, Nasdaq provided the
Company notice that Nasdaq had accepted the Plan and granted the Company an extension until February 16, 2026 to regain compliance with the Stockholders’ Equity Requirement. On February 9, 2026, the Company notified Nasdaq that it would not be
able to satisfy the terms of the provided extension. As a result, on February 10, 2026, Nasdaq provided the Company notice that, unless it requested an appeal of the determination related to the Stockholders’ Equity Requirement, trading of its
common stock would be suspended at the opening of business on February 19, 2026, and a Form 25-NSE would be filed with the SEC, which would remove its securities from listing and registration on The Nasdaq Capital Market. Pursuant to the
foregoing, on February 19, 2026, the Company filed Form 15 removing its common stock from registration on The Nasdaq Capital Market. The Company’s shares of common stock are now quoted OTC. Additionally, the Company filed Certification and Notice
of Termination of Registration under Section 12(g) of the Securities and Exchange Act of 1934. Pursuant to this filing, the Company has terminated its obligations to file periodic reports such as the 10-K and 10-Q with the SEC.
Subsequent events related to the delisting of the Company’s common stock have also been disclosed in Notes 1. Organization
and Nature of Business and 10. Long-Term Debt. No other subsequent events have been identified that would have required adjustment
or disclosure in the consolidated financial statements.
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