$LGMK

Nxt-ID, Inc.

CIK:0001566826|SEC Filings

Condensed 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	$ 3,349,300	$ 2,853,210	$ 6,563,580	$ 5,445,035
Costs of goods sold	980,955	925,910	1,958,447	1,872,507
Gross Profit	2,368,345	1,927,300	4,605,133	3,572,528
Operating Expenses
Direct operating cost	389,880	350,453	767,559	694,079
Advertising costs	89,007	46,395	167,382	220,985
Selling and marketing	835,699	703,249	1,641,252	1,220,348
Research and development	91,447	138,115	214,883	293,604
General and administrative	1,951,309	2,313,034	3,680,042	4,579,753
Other expense	6,481	14,423	22,761	64,035
Depreciation and amortization	598,917	494,045	1,211,017	993,472
Total Operating Expenses	3,962,740	4,059,714	7,704,896	8,066,276
Operating Loss	(1,594,395)	(2,132,414)	(3,099,763)	(4,493,748)
Other Income
Interest income	42,049	133,648	138,277	178,863
Other income (expense), net	425	(53,906)	(41,842)	71,227
Total Other Income	42,474	79,742	96,435	250,090
Loss Before Income Taxes	(1,551,921)	(2,052,672)	(3,003,328)	(4,243,658)
Income tax expense
Net Loss	(1,551,921)	(2,052,672)	(3,003,328)	(4,243,658)
Preferred stock dividends	(75,000)	(75,000)	(150,000)	(150,000)
Net Loss Attributable to Common Stockholders	$ (1,626,921)	$ (2,127,672)	$ (3,153,328)	$ (4,393,658)
Net Loss Attributable to Common Stockholders Per Share - Basic (in Dollars per share)	$ (1.81)	$ (2.9)	$ (3.49)	$ (11.6)
Net Loss Attributable to Common Stockholders Per Share - Diluted (in Dollars per share)	$ (1.81)	$ (2.9)	$ (3.49)	$ (11.6)
Weighted Average Number of Common Shares Outstanding - Basic (in Shares)	900,179	733,023	903,119	378,629
Weighted Average Number of Common Shares Outstanding - Diluted (in Shares)	900,179	733,023	903,119	378,629

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net loss	$ (3,003,328)	$ (4,243,658)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	41,790	58,378
Stock-based compensation	511,440	835,025
Amortization of intangible assets	380,898	380,898
Amortization of product development costs	218,870	217,242
Amortization of software development costs	569,459	336,954
Loss on disposal of fixed assets	1,617	1,195
Amortization of operating lease right-of-use assets	26,222
Change in unrealized (gain) on investments	(6,716)	(18,004)
Changes in operating assets and liabilities:
Accounts receivable	(3,491)	(144,613)
Inventory	206,728	258,780
Prepaid expenses and other current assets	(157,465)	(97,192)
Accounts payable	(244,949)	(293,651)
Accrued expenses	(92,390)	(126,539)
Deferred revenue	15,682	174,831
Other long-term liabilities	(28,155)
Net Cash Used in Operating Activities	(1,563,788)	(2,660,354)
Cash Flows from Investing Activities
Purchase of equipment and website development	(61,952)	(5,648)
Product development costs	(562,326)	(13,856)
Software development costs	(98,965)	(641,949)
Redemption/sale of government securities	4,041,824
Purchase of investments in government securities	(1,227,608)	(7,947,962)
Net Cash Provided by (Used in) Investing Activities	2,090,973	(8,609,415)
Cash Flows from Financing Activities
Proceeds from the sale of common stock and warrants		14,377,835
Fees paid in connection with equity offerings		(1,773,169)
Proceeds from exercise of warrants for common stock		22,147
Repurchase of Series F preferred stock	(319,000)
Repurchase of warrants	(130,000)
Series C redeemable preferred stock dividends	(150,000)	(150,000)
Net Cash (Used in) Provided by Financing Activities	(599,000)	12,476,813
Net (Decrease) Increase in Cash and Cash Equivalents	(71,815)	1,207,044
Cash and Cash Equivalents - Beginning of Period	3,567,487	3,806,915
Cash and Cash Equivalents - End of Period	3,495,672	5,013,959
Non-cash investing and financing activities:
Series H preferred stock conversion to common stock		472,245
Website development costs included in accounts payable and accrued expenses	20,172	2,080
Fees in connection with offering costs included in accounts payable and accrued expenses		57,290
Product development costs included in accounts payable and accrued expenses	94,664	105,509
Software development costs included in accounts payable and accrued expenses	$ 53,417	$ 331,944

Condensed Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 3,495,672	$ 3,567,487
Investments	3,135,718	5,943,218
Accounts receivable, net	9,303	5,812
Inventory	1,193,577	1,400,305
Prepaid expenses and other current assets	838,730	681,265
Total Current Assets	8,673,000	11,598,087
Property and equipment, net	152,646	113,929
Right-of-use assets, net	297,836	324,058
Product development costs, net of amortization of $1,052,322 and $833,452, respectively	1,695,567	1,257,447
Software development costs, net of amortization of $1,753,224 and $1,183,765, respectively	2,037,832	2,454,909
Goodwill	3,143,662	3,143,662
Other intangible assets, net of amortization of $7,570,999 and $7,190,101, respectively	1,033,568	1,414,466
Total Assets	17,034,111	20,306,558
Current Liabilities
Accounts payable	464,172	563,990
Accrued expenses	1,059,156	1,128,424
Deferred revenue	255,598	239,916
Total Current Liabilities	1,778,926	1,932,330
Other long-term liabilities	254,744	282,899
Total Liabilities	2,033,670	2,215,229
Commitments and Contingencies (Note 9)
Series C Redeemable Preferred Stock
Series C redeemable preferred stock, par value $0.0001 per share: 2,000 shares designated; 1 share issued and outstanding as of June 30, 2026 and December 31, 2025; aggregate liquidation preference of $2,000,000 as of June 30, 2026 and December 31, 2025	1,807,300	1,807,300
Stockholders’ Equity
Preferred stock, value
Common stock, par value $0.0001 per share: 800,000,000 shares authorized; 899,759 and 906,059 issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	90	91
Additional paid-in capital	132,828,442	132,597,001
Accumulated deficit	(119,635,391)	(116,632,063)
Total Stockholders’ Equity	13,193,141	16,284,029
Total Liabilities, Series C Redeemable Preferred Stock and Stockholders’ Equity	17,034,111	20,306,558
Series F Preferred Stock
Stockholders’ Equity
Preferred stock, value		$ 319,000