Restatement of Previously Issued Quarterly Financial Statements (Unaudited) (Tables)

6 Months Ended

Jun. 30, 2025

The restated balance sheet line items for the second fiscal quarter of 2025 is as follows:

Schedule of Restated Balance Sheet

	Originally Reported			Adjustment			Restated
	June 30, 2025 (Unaudited)
	As Previously Reported			Restatement Adjustment			As Restated
Total Assets	$	7,124,000		$	—		$	7,124,000

Greenshoe Rights liability		—			28,736,000			28,736,000
Total Liabilities		2,307,000			28,736,000			31,043,000

Mezzanine Equity		1,956,000			—			1,956,000

Convertible Preferred stock		1,000			—			1,000
Common stock		3,000			—			3,000
Additional paid in capital		700,378,000			—			700,378,000
Accumulated deficit		(697,521,000	)		(28,736,000	)		(726,257,000	)
Total Stockholders’ Equity (Deficit)		2,861,000			(28,736,000	)		(25,875,000	)
Total Liabilities and Stockholders’ Equity (Deficit)	$	7,124,000		$	—		$	7,124,000

The restated line items of the statement of operations for the three months ended June 30, 2025 is as follows:

	Originally Reported			Adjustment			Restated
	Three Months Ended June 30, 2025 (Unaudited)
	As Previously Reported			Restatement Adjustment			As Restated
Loss from Operations	$	(1,513,000	)	$	—		$	(1,513,000	)

Loss on initial recognition of Greenshoe Rights liability		—			(28,736,000	)		(28,736,000	)
Total Other Income (Expense)		80,000			(28,736,000	)		(28,656,000	)
Net Loss		(1,433,000	)		(28,736,000	)		(30,169,000	)

Dividend on Series L Preferred Stock		(85,000	)		—			(85,000	)
Net Loss attributable to common stockholders’		(1,518,000	)		(28,736,000	)		(30,254,000	)
Net Loss Per Share - Basic and Diluted	$	(0.55	)	$	(10.37	)	$	(10.92	)
Weighted average common shares outstanding - basic and diluted		2,771,765			—			2,771,765

The restated line items of the statement of operations for the six months ended June 30, 2025 is as follows:

	Originally Reported			Adjustment			Restated
	Six Months Ended June 30, 2025 (Unaudited)
	As Previously Reported			Restatement Adjustment			As Restated
Loss from Operations	$	(3,445,000	)	$	—		$	(3,445,000	)

Loss on initial recognition of Greenshoe Rights liability		—			(28,736,000	)		(28,736,000	)
Total Other Income (Expense)		1,236,000			(28,736,000	)		(27,500,000	)
Net Loss		(2,209,000	)		(28,736,000	)		(30,945,000	)

Dividend on Series L Preferred Stock		(85,000	)		—			(85,000	)
Net Loss attributable to common stockholders’		(2,294,000	)		(28,736,000	)		(31,030,000	)
Net Loss Per Share - Basic and Diluted	$	(0.90	)	$	(11.22	)	$	(12.12	)
Weighted average common shares outstanding - basic and diluted		2,559,604			—			2,559,604

The restated line items of the statement of cash flows for the six months ended June 30, 2025 is as follows:

	Originally Reported			Adjustment			Restated
	Six Months Ended June 30, 2025 (Unaudited)
	As Previously Reported			Restatement Adjustment			As Restated
Net Loss	$	(2,209,000	)	$	(28,736,000	)	$	(30,945,000	)

Loss on initial recognition of Greenshoe Rights liability		—			28,736,000			28,736,000
Net cash used in operating activities	$	(5,216,000	)	$	—		$	(5,216,000	)