$QSEP

SAVE THE WORLD AIR INC

CIK:0001103795|SEC Filings

Condensed Consolidated Statements of Operations, Unaudited - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 0	$ 0	$ 0	$ 0
Costs and Expenses
Operating expenses	2,125,000	1,892,000	2,860,000	11,404,000
Research and development expenses	9,000	104,000	11,000	151,000
Loss from operations	(2,134,000)	(1,996,000)	(2,871,000)	(11,555,000)
Other income (expense)
Interest and financing expense	(29,000)	(143,000)	(73,000)	(258,000)
Net Loss	$ (2,163,000)	$ (2,139,000)	$ (2,944,000)	$ (11,813,000)
Net loss per common share, basic	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.03)
Net loss per common share, diluted	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.03)
Weighted average common shares outstanding, basic	556,762,727	495,547,582	552,055,120	467,026,067
Weighted average common shares outstanding, diluted	556,762,727	495,547,582	552,055,120	467,026,067

Condensed Consolidated Statements of Cash Flows, Unaudited - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from Operating Activities
Net loss	$ (2,944,000)	$ (11,813,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Fair value of vested stock options and warrants	1,290,000	6,740,000
Stock-based compensation expense – warrant modification	25,000	25,000
Fair value of common stock issued for services	345,000	1,451,000
Fair value of common stock issued as compensation	75,000	240,000
Amortization of debt discount	6,000	141,000
Accrued interest expense	67,000	91,000
Depreciation and amortization	0	0
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(38,000)	(21,000)
Accounts payable and accrued expenses	(54,000)	182,000
Accounts payable – license agreements	0	118,000
Net cash used in operating activities	(1,228,000)	(2,360,000)
Cash flows from financing activities
Net proceeds from exercise of options and warrants	1,342,000	727,000
Net proceeds from issuance of convertible notes and warrants	0	2,285,000
Principal payment on PPP loan payable	0	(24,000)
Net cash provided by financing activities	1,342,000	2,988,000
Net increase in cash	114,000	628,000
Cash, beginning of period	6,000	150,000
Cash, end of period	120,000	778,000
Cash paid during the year for:
Interest	0	0
Income Taxes	1,600	1,600
Non-cash investing and financing activities
Conversion of convertible notes and accrued interest into common stock	233,000	3,803,000
Cashless exercise of warrants applied to settlement of accounts payable	25,000	99,000
Relative fair value of warrants issued with convertible notes	$ 0	$ 1,430,000

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 120,000	$ 6,000
Prepaid expenses	87,000	49,000
Total current assets	207,000	55,000
Total assets	207,000	55,000
Current liabilities:
Accounts payable - license agreements - past due	3,167,000	3,167,000
Accounts payable and accrued expenses	1,337,000	1,416,000
Convertible notes payable, net of discounts of $0 and $16,000 respectively; includes $1,201,000 and $1,116,000, respectively, in default	1,201,000	1,351,000
Total liabilities	5,705,000	5,934,000
Commitments and contingencies
Stockholders’ deficit
Common stock, $0.001 par value: 750,000,000 shares authorized, 564,555,854 and 543,350,596 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	564,557	543,351
Additional paid-in capital	139,486,443	136,182,649
Accumulated deficit	(145,549,000)	(142,605,000)
Total stockholders’ deficit	(5,498,000)	(5,879,000)
Total liabilities and stockholders’ deficit	$ 207,000	$ 55,000