Our Bond Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Cash & Equivalents	0.6	0.73	1.44
Cash & Short-Term Investments	0.6	0.73	1.44
Cash Growth	-17.49%	-49.48%	-
Accounts Receivable	1.59	2.23	3
Other Receivables	-	0.31	-
Receivables	1.59	2.54	3
Prepaid Expenses	0.04	0.02	0.02
Other Current Assets	0.19	0.1	0.08
Total Current Assets	2.42	3.39	4.54
Property, Plant & Equipment	0.09	0.11	0.13
Total Assets	2.5	3.5	4.67
Accounts Payable	2.59	2.59	3.32
Accrued Expenses	2.51	1.9	1.84
Short-Term Debt	0.77	1.87	1.59
Current Portion of Long-Term Debt	1.56	-	-
Current Unearned Revenue	0.56	0.78	0.28
Other Current Liabilities	0.14	0.07	0.03
Total Current Liabilities	8.12	7.2	7.05
Long-Term Debt	5.66	12.81	11.3
Total Liabilities	13.78	20.01	18.35
Common Stock	0	0	0
Additional Paid-In Capital	116.56	111.51	103.29
Retained Earnings	-139.15	-128.07	-117.05
Comprehensive Income & Other	-0.07	0.04	0.08
Total Common Equity	-22.67	-16.52	-13.69
Shareholders' Equity	-11.27	-16.51	-13.68
Total Liabilities & Equity	2.5	3.5	4.67
Total Debt	7.98	14.68	12.89
Net Cash (Debt)	-7.38	-13.95	-11.45
Net Cash Per Share	-1.48	-4.75	-9.70
Filing Date Shares Outstanding	20.67	3.23	1.18
Total Common Shares Outstanding	13.9	2.96	1.18
Working Capital	-5.7	-3.81	-2.51
Book Value Per Share	-1.63	-5.57	-11.60
Tangible Book Value	-22.67	-16.52	-13.69
Tangible Book Value Per Share	-1.63	-5.57	-11.60
Machinery	0.75	0.71	0.68
Leasehold Improvements	0.02	0.02	0.02

Source: S&P Capital IQ. Standard template. Financial Sources.