Financial Performance - Net loss for the second quarter of fiscal year 2026 was $19.4 million, compared to a net loss of $13.0 million for the same quarter in fiscal year 2025[7]. - Basic and diluted net loss per common share for the second quarter of fiscal year 2026 was $0.54, compared to $0.42 in the same quarter of the previous year[17]. - The accumulated deficit increased to $442.1 million as of September 30, 2025, from $407.6 million at the end of the previous fiscal year[15]. Revenue and Expenses - Total revenues for the second quarter of fiscal year 2026 were $258,000, compared to $183,000 in the same quarter of the previous year[17]. - Research and development (R&D) expense increased to $15.9 million for the second quarter of fiscal year 2026, up from $10.2 million in the same period last year, reflecting higher expenses related to the PALISADE Program for fasedienol[5]. - General and administrative (G&A) expense was $4.4 million for the second quarter of fiscal year 2026, slightly up from $4.2 million in the prior year[6]. Clinical Trials - The last patient completed the randomized portion of the PALISADE-3 Phase 3 clinical trial, with topline results expected in the fourth quarter of 2025[4]. - The PALISADE-4 Phase 3 trial is set to report topline results in the first half of 2026, following a similar study design as PALISADE-3[4]. Corporate Governance - The company appointed Mr. Paul Edick to its Board of Directors in October 2025[3]. Cash Position - Cash, cash equivalents, and marketable securities totaled $77.2 million as of September 30, 2025[8].

Financial Performance - Total revenue for the three months ended September 30, 2025, was $6.829 million, a decrease of 16% compared to $8.164 million in the same period of 2024[109]. - Core revenue decreased by 21% to $6.406 million in Q3 2025 from $8.140 million in Q3 2024, with significant declines in instrument revenue (down 22%), PA revenue (down 25%), and license revenue (down 29%) [112]. - The company incurred a net loss of $12.416 million for the three months ended September 30, 2025, compared to a net loss of $11.557 million in the same period of 2024[109]. - Total revenue for the nine months ended September 30, 2025 was $25.7 million, a decrease of $4.2 million, or 14%, compared to $29.9 million during the same period in 2024, primarily due to a decrease in program-related revenue[139]. - Core revenue for the nine months ended September 30, 2025 was $22.8 million, a decrease of $1.1 million, or 4%, compared to $23.9 million in the same period in 2024[139]. - The company incurred a net loss of $35.0 million for the nine months ended September 30, 2025, with an accumulated deficit of $251.9 million as of the same date[152]. Revenue Drivers - The company expects revenue from PA and instrument sales to continue to grow as customers advance their preclinical pipeline programs into clinical development[115]. - Program-related revenues decreased by $3.2 million for the nine months ended September 30, 2025, due to customer variability in achieving clinical and regulatory milestones[141]. Expenses and Cost Management - Operating expenses for Q3 2025 totaled $19.382 million, slightly down from $20.289 million in Q3 2024[109]. - Sales and marketing expenses decreased by $2.3 million, or 37%, for the three months ended September 30, 2025, primarily due to a reduction in headcount and decreases in stock-based compensation and marketing expenses[129]. - General and administrative expenses decreased by $1.7 million, or 22%, for the three months ended September 30, 2025, driven by a decrease in stock-based compensation and legal fees[132]. - Restructuring expenses of $3.1 million were incurred during the three months ended September 30, 2025, due to the implementation of a restructuring plan[134]. - Sales and marketing expenses decreased by $4.8 million, or 24%, for the nine months ended September 30, 2025, mainly due to a reduction in headcount[146]. Strategic Initiatives - In January 2025, the company acquired SeQure Dx, Inc., enhancing its capabilities in cell and gene therapy services[105]. - The company signed four new Strategic Platform License (SPL) agreements in 2025, expanding its partnerships and revenue potential[106]. - SPL program-related revenue increased significantly by 1,663% to $423,000 in Q3 2025 from $24,000 in Q3 2024[112]. - The company continues to focus on expanding its manufacturing capabilities and sales efforts to drive future growth in both U.S. and international markets[104]. Cash Flow and Financial Position - Net cash used in operating activities for the nine months ended September 30, 2025 was $31.7 million, compared to $19.8 million for the same period in 2024[157]. - Net cash provided by investing activities during the nine months ended September 30, 2025 was $16.3 million, primarily from maturities of investments[159]. - The company has no debt obligations as of September 30, 2025[165]. - The company has contractual obligations of $24.4 million for operating lease payments through August 31, 2035[163]. Market and Economic Factors - A 10% change in market interest rates is not expected to materially affect the company's financial condition or results of operations[178]. - The company does not expect foreign currency gains or losses to have a material effect on its financial position or results of operations in the foreseeable future[179]. - Inflation and changing prices have not had a material effect on the company's business during the last two years[180]. Management and Governance - Mr. Swirsky will receive a one-time payment of $150,000 following his transition from Chief Financial Officer[175]. - Mr. Swirsky will provide consulting services for eighteen months post-transition, with a monthly fee of $10,000[175]. - The company did not recognize any goodwill impairment for the three and nine months ended September 30, 2025[170]. - The company expects to retain its emerging growth company (EGC) status until December 31, 2026[172]. - The company may continue to be a smaller reporting company if the market value of its stock held by non-affiliates is less than $250 million[173].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-42383 OAKTREE ACQUISITION CORP. III LIFE SCIENCES (Exact Name of Registrant as Specified in Its Charter) Cayman Islan ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-42383 OAKTREE ACQUISITION CORP. III LIFE SCIENCES (Exact Name of Registrant as Specified in Its Charter) Cayman Islan ...

Financial Performance - Third quarter 2025 revenue was $9.5 million, representing a 10% year-over-year increase from $8.6 million in Q3 2024[5] - Gross margin improved to 70% in Q3 2025, up from 61% in Q3 2024, due to resolved manufacturing issues and improved operational efficiencies[5] - Operating loss decreased to $2.9 million in Q3 2025, compared to $4.8 million in Q3 2024, driven by better gross margins and lower operating expenses[5] - Adjusted net loss improved to $2.6 million or $0.04 per share, compared to an adjusted net loss of $4.5 million or $0.08 per share in Q3 2024[5] - CytoSorbents reported revenue of $9.485 million for Q3 2025, a 10.1% increase from $8.613 million in Q3 2024[28] - Gross profit for Q3 2025 was $6.666 million, compared to $5.256 million in Q3 2024, reflecting a gross margin improvement[28] - The company incurred a net loss of $3.170 million in Q3 2025, compared to a net loss of $2.768 million in Q3 2024[28] - For the nine months ended September 30, 2025, the net loss was $2,701,000, a significant improvement compared to a net loss of $13,152,000 for the same period in 2024[30] - The company reported stock-based compensation of $1,879,000 for the nine months ended September 30, 2025, down from $2,840,000 in the same period of 2024[30] - The adjusted EBITDA for the nine months ended September 30, 2025, was $(7,348,000), an improvement from $(9,036,000) in the same period of 2024[31] - The basic net loss per common share for the three months ended September 30, 2025, was $(0.05), consistent with the same period in 2024[31] Cash Flow and Assets - The company expects to reach cash flow breakeven in Q1 2026 following a workforce reduction of approximately 10% and a cost reduction program[7] - Proforma cash, cash equivalents, and restricted cash was $11.6 million on September 30, 2025, assuming the additional term loan was drawn[6] - Cash and cash equivalents increased to $7.536 million as of September 30, 2025, up from $3.280 million at the end of 2024[27] - Cash, cash equivalents, and restricted cash at the end of the period were $9,058,000, compared to $12,168,000 at the end of September 30, 2024[30] - The net cash used in operating activities for the nine months ended September 30, 2025, was $7,552,000, compared to $12,087,000 for the same period in 2024[30] Liabilities and Equity - Total current assets decreased slightly to $21.313 million as of September 30, 2025, from $21.604 million as of December 31, 2024[27] - Total liabilities increased to $36.730 million as of September 30, 2025, compared to $36.265 million at the end of 2024[27] - The total stockholders' equity as of September 30, 2025, was $9,020,000, a decrease from $11,586,000 as of June 30, 2025[29] Regulatory and Product Development - The company submitted a De Novo pre-submission package for DrugSorb™-ATR to the FDA, with a regulatory decision anticipated by mid-2026[5][11] - CytoSorbents is actively pursuing regulatory approval for the DrugSorb™-ATR system with the U.S. FDA and Health Canada[20] - The company has multiple products under development, including ECOS-300CY®, CytoSorb-XL™, and DrugSorb™, protected by numerous patents[21] Clinical Programs and Research - Recent clinical data publications reinforce the effectiveness of CytoSorbents' therapies in managing sepsis and septic shock, highlighting significant reductions in mortality rates[14] - The company plans to expand clinical programs across all applications to improve patient outcomes and support healthcare workers globally[15] Financing and Credit - An amended credit agreement with Avenue Capital Group provides an additional $2.5 million in term loan capital and extends the interest-only period to December 31, 2026[8] - The company reported proceeds from the exercise of common stock warrants amounting to $1,439,000 for the nine months ended September 30, 2025[30] - The company incurred foreign currency transaction gains of $9,128,000 for the nine months ended September 30, 2025, compared to gains of $680,000 in the same period of 2024[30]

Product Development and Acquisitions - The company expanded its product offerings in March 2025 with the launch of the Myseum platform, a secure digital content management and storage solution [150]. - In October 2024, the company acquired RPM Interactive, Inc. for 3,500,000 restricted shares of common stock, shifting focus to AI-generated gaming and podcasting technologies [155]. - The company launched the Myseum social media platform, allowing users to create a digital legacy and share content securely [154]. - The Habytat platform development was ceased following the acquisition of RPM, with the company evaluating the use of the developed technology [157]. - The company changed its name to "Myseum, Inc." on August 7, 2025, with trading symbols on Nasdaq starting August 11, 2025 [158]. Financial Performance - Revenue for the three months ended September 30, 2025, was $328, compared to $62 for the same period in 2024, representing a significant increase [171]. - Operating expenses for the three months ended September 30, 2025, amounted to $1,280,929, an increase of $42,683, or 3.3%, compared to $1,238,246 in 2024 [172]. - Compensation and related expenses increased by $314,543, or 68.2%, to $775,965 for the three months ended September 30, 2025, primarily due to stock-based compensation [174]. - Marketing and advertising expenses rose by $19,953, or 58.4%, to $54,087 for the three months ended September 30, 2025, driven by increased promotions and digital marketing [176]. - Loss from operations for the three months ended September 30, 2025, was $1,280,601, an increase of $42,417, or 3.4%, compared to $1,238,184 in 2024 [182]. - Net loss attributable to common shareholders for the three months ended September 30, 2025, was $1,201,477, or ($0.28) per share, compared to $1,271,801, or ($0.42) per share in 2024, a decrease of 5.5% [185]. Cash Flow and Investments - As of September 30, 2025, the company had cash and cash equivalents of $457,626 and short-term investments of $4,346,310 [187]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $3,515,434, compared to $3,507,202 in 2024, an increase of $8,232 [189]. - Net cash used in investing activities for the nine months ended September 30, 2025, amounted to $(1,589,111), compared to $1,269,566 in 2024 [193]. - Net cash provided by financing activities increased to $4,365,472 for the nine months ended September 30, 2025, compared to $1,916,771 for the same period in 2024, representing a growth of approximately 128.5% [195]. - The company received $4,532,000 from the sale of common stock during the nine months ended September 30, 2025, compared to $559,251 in the same period of 2024, indicating a significant increase of approximately 708% [196]. Accounting and Compliance - The company has not entered into any off-balance sheet arrangements or derivative contracts that are indexed to its shares, ensuring no additional financial liabilities are present [197]. - The company intends to rely on exemptions provided under the JOBS Act, delaying compliance with certain accounting standards until they apply to private companies [200]. - The company will remain classified as an "emerging growth company" until it reaches total annual gross revenues of $1.235 billion or more, or until other specified conditions are met [200]. - The financial statements may not be comparable to those of companies that comply with public company effective dates for new or revised accounting standards due to the company's status as an emerging growth company [199]. - The company is classified as a "smaller reporting company" and is not required to provide certain market risk disclosures [201]. Shareholder and Noncontrolling Interests - As of September 30, 2025, the company holds approximately 34% of RPM Interactive's outstanding shares after returning and canceling 3,500,000 shares [156]. - The net loss attributed to noncontrolling interests in RPM Interactive was $316,235 during the nine months ended September 30, 2025, resulting in a noncontrolling interest deficit of $2,642,834 [164].

Financial Performance - Revenues for Q3 2025 reached $31,988,000, a 44.5% increase from $22,122,000 in Q3 2024[25] - Gross profit for Q3 2025 was $16,200,000, compared to $11,546,000 in Q3 2024, reflecting a 40.4% increase[25] - Operating income for Q3 2025 was $1,216,000, a significant improvement from an operating loss of $4,822,000 in Q3 2024[25] - Net income for Q3 2025 was $4,134,000, compared to a net loss of $5,611,000 in Q3 2024[25] - The company reported a basic net income per share of $0.20 for Q3 2025, compared to a loss of $0.57 per share in Q3 2024[25] - For the nine months ended September 30, 2025, the net loss was $30,488,000, compared to a net loss of $3,484,000 for the same period in 2024[32] - For the three months ended September 30, 2025, the company reported a net income attributable to common stockholders of $139,000, compared to $3,995,000 in the same period of 2024, reflecting a decrease of approximately 96.5%[148] - The diluted net income per share for the three months ended September 30, 2025, was $0.19, compared to a loss of $(0.06) in 2024[148] Assets and Liabilities - Total current assets increased to $71,638,000 as of September 30, 2025, up from $46,113,000 at the end of 2024, representing a 55.4% growth[23] - Total liabilities rose to $113,464,000 as of September 30, 2025, compared to $66,329,000 at the end of 2024, indicating a 71.1% increase[23] - The total stockholders' deficit increased to $54,143,000 as of September 30, 2025, from $29,751,000 at the end of 2024[23] - The Company reported an accumulated deficit of $298,683 as of September 30, 2025, with negative cash flows from operations of $10,340 and $14,215 for the nine months ended September 30, 2025 and 2024, respectively[42] - The total debt as of September 30, 2025 was $24,948,000, significantly higher than $11,697,000 as of December 31, 2024, marking an increase of 113.1%[74] Cash Flow and Financing - Cash flows from operating activities resulted in a net cash used of $10,340,000 for the nine months ended September 30, 2025, compared to $14,215,000 for the same period in 2024[32] - The total cash provided by financing activities was $14,223,000 for the nine months ended September 30, 2025, compared to $20,127,000 in 2024[32] - Proceeds from short-term borrowings amounted to $67,730,000 in 2025, compared to $28,479,000 in 2024[32] - The company completed an offering of 4,825,400 shares at $7.15 per share in October 2025, generating net proceeds of $32,109 for commercialization and R&D[42] - The Company has borrowings of $7,500 under the WTI Loan Facility and $18,616 under the ABL Line of Credit as of September 30, 2025[42] Expenses - Research and development expenses for Q3 2025 were $3,785,000, up from $2,559,000 in Q3 2024, marking a 47.9% increase[25] - General and administrative expenses decreased by $3,514, or 35.9%, to $6,273 for the three months ended September 30, 2025, compared to $9,787 for the same period in 2024[177] - The company reported stock-based compensation of $4,516,000 for the nine months ended September 30, 2025, down from $7,046,000 in 2024[32] - The company recognized a gain of $4,266 for the three months ended September 30, 2025, compared to a loss of $673 for the same period in the prior year[186] Stock and Equity - The company issued 9,250 shares of convertible preferred stock, raising $2,394 thousand during the reporting period[27] - The total shares of common stock outstanding as of September 30, 2024, were 15,393,881, with a total stockholders' deficit of $(21,459) thousand[27] - The Company issued 3,135,136 shares of common stock in September 2024, receiving net proceeds of $10,590[42] - The Company issued 3,135,136 shares of common stock at a public price of $3.70 per share on September 11, 2024, resulting in net proceeds of $10,590[109] - The Series A Warrants had 390,378 shares exercised, generating $1,822 in cash proceeds during the nine months ended September 30, 2025[119] Market and Revenue Sources - Revenue from the United States for the three months ended September 30, 2025, was $22,249,000, compared to $18,527,000 in 2024, an increase of 20.3%[155] - The Owlet360 subscription service contributed to revenue growth, having launched in January 2025[174] - During the three months ended September 30, 2025, three customers accounted for 37%, 10%, and 10% of total net revenues, with one customer representing 46% of total net revenues for the nine months ended September 30, 2025[47] Valuation and Fair Value - As of September 30, 2025, the total assets measured at fair value were $8,167,000, while total liabilities amounted to $47,386,000[131] - The Series A Warrants had a fair value of $38,802,000 as of September 30, 2025, reflecting a decrease of $2,824,000 in fair value for the three months ended[138] - The Series B Warrants had a fair value of $8,584,000 as of September 30, 2025, with a decrease of $1,442,000 recorded in fair value for the same period[141] Operational Insights - The company operates as a single operating segment, with all significant operating decisions made based on this structure[151] - The Titan Warrants are exercisable starting March 13, 2025, at an exercise price of $4.63, with 25,081 warrants exercised as of September 30, 2025[204] - Tariffs announced in 2025 have adversely impacted the company's cost of goods sold and gross margins[195]

Financial Performance - Revenues for the three months ended September 30, 2025, were $13,175,000, a decrease of 18.1% compared to $16,125,000 for the same period in 2024[17] - Gross profit for the same period was $3,765,000, down 27.8% from $5,218,000 year-over-year[17] - Operating loss increased to $2,178,000 for Q1 2025, compared to a loss of $1,212,000 in Q1 2024[17] - Net loss for the three months ended September 30, 2025, was $2,562,000, compared to a net loss of $1,669,000 in the prior year, representing a 53.4% increase in losses[17] - Adjusted EBITDA for the quarter was a loss of $1,718,000, compared to a loss of $372,000 in the prior year[174] - The net loss for the quarter ended September 30, 2025, was $2,562,000, compared to a net loss of $1,669,000 for the same quarter in 2024[173] Assets and Liabilities - Total current assets decreased to $26,957,000 as of September 30, 2025, down from $31,804,000 at June 30, 2025, a decline of 15.4%[15] - Total liabilities decreased to $33,015,000 as of September 30, 2025, down from $40,156,000 at June 30, 2025, a reduction of 17.7%[15] - Cash at the end of the period increased to $1,588,000 from $1,334,000 at the end of the previous quarter, an increase of 19.0%[21] - The Company had a cash balance of $1.6 million and $6.1 million available under the Gibraltar Business Capital Credit Facility as of September 30, 2025[41] Capital Raising Activities - The company raised $3,227,000 from the issuance of prefunded preferred stock warrants and common stock warrants under a private placement[21] - The Company completed a Public Offering in October 2025, raising $9.2 million in cash proceeds[46] - The Company completed a Private Placement on September 15, 2025, raising approximately $5.0 million through the sale of Prefunded Preferred Stock Warrants and Common Stock Warrants[70] - The net proceeds from the Private Placement, after issuance costs of approximately $400,000, were approximately $4,400,000[72] Operational Focus and Strategy - The company continues to focus on the development of advanced lithium-ion energy storage solutions, targeting growth in the material handling sector[27] - Management is implementing price increases and cost-saving initiatives to improve profitability and cash flow from operations[44] - The Company aims to expand its sales and marketing efforts and improve production efficiencies to meet the growing demand for lithium-ion energy solutions[141] Legal and Compliance Matters - The Company is currently involved in multiple legal proceedings, including a class action and a derivative action, but intends to vigorously defend against these claims[114] - The Company expects to establish a $1.75 million escrowed settlement fund to cover payments related to a class action litigation settlement[103] - The Company anticipates its liability insurers will directly fund approximately $1.15 million of the settlement fund, with an estimated contribution of $600,000 from the Company[106] - The Company reached an agreement to resolve the derivative complaint on July 11, 2025, involving corporate governance reforms[213] Stock and Equity Information - The company reported a weighted average number of common shares outstanding of 16,835,698 for the three months ended September 30, 2025[17] - Basic and diluted loss per share for the three months ended September 30, 2025, were calculated based on 16,835,698 weighted-average common shares outstanding[39] - The 2021 Equity Incentive Plan allows for the issuance of awards for up to 2,000,000 shares of common stock, with 164,899 shares available for future grants as of September 30, 2025[81] - The Company approved the 2025 Equity Incentive Plan, authorizing the issuance of up to 1,000,000 shares of common stock for various awards as of September 30, 2025[82] Inventory and Supply Chain - Inventories decreased from $17.231 million as of June 30, 2025, to $15.726 million as of September 30, 2025, with raw materials accounting for $12.321 million[48] - The Company had one supplier accounting for approximately $1,686,000 or 15% of total purchases during the three months ended September 30, 2025, down from $3,986,000 or 31% in 2024[99] Market Conditions and Challenges - The Company is evaluating the impact of new tariffs on imported products, which are expected to negatively affect revenues and profitability[33] - The Company temporarily paused imports from a battery cell supplier in China due to tariff uncertainties, but operations were not materially affected[35] - New orders for energy storage solutions experienced delays in the second half of fiscal 2025, with some customers deferring orders to fiscal 2026 due to lower capital spending and interest rate variability[146] Internal Controls and Governance - Management has identified material weaknesses in internal controls over financial reporting as of September 30, 2025, due to insufficient technical accounting expertise[197] - The company has engaged external financial consulting firms to assist in strengthening internal controls and procedures[200] - The company has not identified any changes in internal controls over financial reporting that materially affect its operations during the fiscal quarter ended September 30, 2025[202]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 For the transition period from to Commission File Number: 001-42731 1RT ACQUISITION CORP. (Exact name of registrant as specified in its charter) | Cayman Islands | 33-1579459 | | --- | ...

Financial Performance - Revenues from product sales for the nine months ended September 30, 2025, were $68,000, a slight decrease from $69,000 for the same period in 2024[20] - The company reported a gross profit of $49,000 for the nine months ended September 30, 2025, compared to a gross loss of $41,000 for the same period in 2024[20] - The net loss attributable to the company's stockholders' equity for the nine months ended September 30, 2025, was $5,273,000, compared to a net loss of $3,820,000 for the same period in 2024[20] - The company experienced an operating loss of $4,779,000 for the nine months ended September 30, 2025, compared to an operating loss of $3,064,000 for the same period in 2024[20] - The company reported a comprehensive loss of $2,264,000 for the period ending June 30, 2024[26] - The Company reported a net loss of $5,439 for the nine months ended September 30, 2025, compared to a net loss of $3,684 in the same period of 2024[169] - Total expenses for the nine months ended September 30, 2025 were $4,617,000, an increase from $2,806,000 for the same period in 2024[209] Assets and Equity - Total current assets increased to $8,656,000 as of September 30, 2025, compared to $3,404,000 as of December 31, 2024, representing a 154% increase[17] - Total stockholders' equity increased to $8,930,000 as of September 30, 2025, from $4,749,000 as of December 31, 2024, marking an 88% increase[17] - The company reported total assets of $3,196 million as of September 30, 2025, an increase from $2,302 million as of December 31, 2024[76] Cash Flow and Financing - Cash and cash equivalents rose significantly to $6,044,000 as of September 30, 2025, compared to $2,154,000 as of December 31, 2024, indicating a 180% increase[17] - For the nine months ended September 30, 2024, the net cash used in operating activities was $2,311,000, a decrease from $2,927,000 in the same period of the previous year[30] - The company plans to continue securing financing through the sale of additional equity securities or capital inflows from strategic partnerships[48] Research and Development - Research and development expenses increased to $81,000 for the nine months ended September 30, 2025, up from $38,000 in the same period of 2024, reflecting a 113% increase[20] - Research and development expenses for the nine months ended September 30, 2025, totaled $81,000, up from $38,000 in 2024[205] Liabilities - The total liabilities measured at fair value increased to $463 million as of September 30, 2025, compared to $312 million as of December 31, 2024[80] - The company experienced a change in fair value of level 3 liabilities, resulting in an increase of $1,473 million during the period[80] Investments and Acquisitions - The Company completed the acquisition of 100% of MitoCareX on October 20, 2025, with an initial purchase price allocation estimating $4,506 of intangible assets and $5,792 of goodwill[171] - The Company fully impaired its investment in Plantify as of September 30, 2025, due to lack of market data and deterioration in Plantify's financial condition[92] - The Company entered into a loan agreement with MitoCareX for $250, bearing 3% annual interest, maturing in June 2025[93] Stock and Shareholder Information - The weighted average number of shares of common stock outstanding increased to 689,725 for the nine months ended September 30, 2025, from 143,160 for the same period in 2024[20] - The Company issued 418,261 shares of common stock valued at $1,672 for gross consideration of $3,335 in September 2025[160] - The Company issued 48,691 shares and warrants to purchase 267,858 shares at an exercise price of $8.40, receiving gross proceeds of $1,500[141] Operational Challenges - The company has an accumulated deficit of $40 million since inception, indicating ongoing financial challenges[46] - The company’s management expects to continue generating losses and negative cash flows for the foreseeable future[47] - The company is currently unable to predict the duration of the ongoing conflict in Israel, which may impact its operations and financial results[56] - The company continues to monitor the economic and geopolitical conditions affecting its business, particularly in Israel[55] Expenses Breakdown - Professional services expenses for the nine months ended September 30, 2025 were $1,853,000, up from $1,602,000 in 2024, reflecting a growth of 15.66%[209] - Share-based compensation for the nine months ended September 30, 2025 was $2,141,000, significantly higher than $814,000 in 2024, indicating an increase of 163.78%[209] - Legal expenses for the nine months ended September 30, 2025 were $273,000, compared to $151,000 in 2024, representing an increase of 80.79%[209] - Salaries and related expenses for the nine months ended September 30, 2025 were $131,000, a notable increase from $34,000 in 2024[209] - Insurance expenses for the nine months ended September 30, 2025 were $111,000, a slight decrease from $124,000 in 2024[209] - Registration fees for the nine months ended September 30, 2025 were $61,000, up from $39,000 in 2024, reflecting a growth of 56.41%[209]