$QCLS

Akers Biosciences Inc

CIK:0001321834|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]
Product Revenue
Product Cost of Sales
Gross Profit
General and Administrative Expenses	1,002,949	894,297	2,069,599	1,735,982
Research and Development Expenses	236,133	873,472	746,667	2,418,985
Stock Based Compensation Expenses	2,373,655	104,854	2,432,261	189,490
Franchise Tax Expense			219,403
Impairment of Technology License	3,177,999		3,177,999
Loss from Operations	(6,790,736)	(1,872,623)	(8,645,929)	(4,344,457)
Other (Income) Expenses
Interest and Dividend Income	(100,625)	(57,575)	(171,965)	(120,087)
Gain on Sale of Investments	(19,459)		(31,241)	(2,176)
Change in fair value of Marketable Securities	26,584	147	7,290	1,744
Change in fair value of Derivatives Liabilities	(81,000)	(19,000)	(591,000)	(1,303,000)
Total Other (Income)/Expense	(174,500)	(76,428)	(786,916)	(1,423,519)
Loss Before Income Tax	(6,616,236)	(1,796,195)	(7,859,013)	(2,920,938)
Income Tax Benefit/(Provision)
Net Loss	(6,616,236)	(1,796,195)	(7,859,013)	(2,920,938)
Preferred Stock Dividends & Adjustments	(76,716)	976,369	208,955	1,789,865
Net Loss Attributable to Common Stockholders	$ (6,539,520)	$ (2,772,564)	$ (8,067,968)	$ (4,710,803)
Basic net loss per common share	$ (0.79)	$ (51.10)	$ (0.99)	$ (187.46)
Diluted net loss per common share	$ (0.79)	$ (51.10)	$ (0.99)	$ (187.46)
Weighted average basic common stock outstanding	8,235,978	54,261	8,150,204	25,129
Weighted average diluted common stock outstanding	8,235,978	54,261	8,150,204	25,129

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (7,859,013)	$ (2,920,938)
Adjustments to reconcile net loss to net cash used in operating activities:
Accrued interest/dividends	(46,693)
(Gain)/Loss on sale of securities	7,291	(2,176)
Loss on fair market value of equity investments		1,744
Gain on fair market value of derivatives	(591,000)	(1,303,000)
Amortization of ROU asset	14,246
Depreciation of fixed assets	5,341
Impairment of technology license	3,177,999
Share-based compensation:
To directors – options	1,421,040	110,168
To key employees – options		35,103
To key employees – restricted stock units (RSUs)	60,061
To directors – RSUs	25,014
To non-employees – options	139,456	44,219
To non-employees – warrants	25,271
To non-employees - RSUs	298,577
Change in assets and liabilities:
Prepaid expenses	37,171	(445,773)
Security deposits	(113,688)
Trade and other receivables	1,400
Trade and other payables	(1,128,692)	(224,954)
Operating lease liabilities	(14,616)
License Fees Payable	(564,261)
Net cash used by operating activities	(5,105,096)	(4,705,607)
Cash flows from investing activities:
Purchase of capital equipment	(146,209)
Purchases of marketable securities	(218,751)	(5,919,540)
Proceeds from sale of marketable securities	4,379,638	10,659,546
Net cash provided by investing activities	4,014,678	4,740,006
Cash flows from financing activities
Dividends on Preferred Stock	(113,244)
Net proceeds from the exercise of warrants for common stock	524,278
Net cash provided by financing activities	411,034
Net increase/(decrease) in cash and cash equivalents	(679,384)	34,399
Cash at beginning of period	986,996	173,154
Cash at end of period	307,612	207,553
Cash paid for:
Interest
Income Taxes
Supplemental Schedule of Non-Cash Financing and Investing Activities
Fair value of Series G Convertible Preferred Stock issued in-lieu of dividends	357,375	1,193,000
Accrued dividends on Series G and Series H Convertible Preferred Stock	559,822
Operating lease right of use asset obtained in exchange for lease liability	$ 385,787

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and Cash Equivalents	$ 307,612	$ 986,996
Marketable Securities	10,679,782	14,801,267
Other Receivables	16,800	18,200
Prepaid Expenses	736,924	774,095
Total Current Assets	11,741,118	16,580,558
Non-Current Assets
Property, Plant and Equipment, net	140,868
Operating Lease Right-of-Use Asset, net	371,541
Technology License		14,086,999
Goodwill	10,498,539	10,498,539
Other Assets	113,688
Total Non-Current Assets	11,124,636	24,585,538
Total Assets	22,865,754	41,166,096
Current Liabilities
Trade and Other Payables	1,337,625	2,445,346
Due to MyMD FL Shareholders	29,982	29,982
Operating Lease Liability	145,163
Dividends Payable	451,682	365,970
License Fees Payable	35,018	533,744
Derivative Liability	1,566,000	2,157,000
Total Current Liabilities	3,565,470	5,532,042
Non-Current Liabilities
Contingent Consideration Payable, net of current		10,909,000
Operating Lease Liability, net of current	226,008
Total Non-Current Liabilities	226,008	10,909,000
Total Liabilities	3,791,478	16,441,042
Commitments and Contingencies
Mezzanine Equity
Total Mezzanine Equity	2,983,379	2,973,379
STOCKHOLDERS’ EQUITY
Common Stock, par value $0.001, 1,250,000,000 shares authorized, 8,189,838 and 7,690,403 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively.	8,190	7,690
Additional Paid in Capital	168,128,886	165,722,193
Accumulated Deficit	(152,190,703)	(144,122,732)
Total Stockholders’ Equity	16,090,897	21,751,675
Total Liabilities and Stockholders’ Equity	22,865,754	41,166,096
Series G Convertible Preferred Stock [Member]
Mezzanine Equity
Convertible Preferred Stock, value	8,812,000	8,802,000
Convertible Preferred Stock – Discount	(6,938,000)	(6,938,000)
Series H Convertible Preferred Stock [Member]
Mezzanine Equity
Convertible Preferred Stock, value	3,115,000	3,115,000
Convertible Preferred Stock – Discount	(168,621)	(168,621)
Series H Convertible Preferred Stock – Derivative	(1,837,000)	(1,837,000)
Series D Convertible Preferred Stock [Member]
STOCKHOLDERS’ EQUITY
Preferred stock, value	$ 144,524	$ 144,524