CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2025	Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,874,042)	$ (3,771,070)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	207,722	63,389
Amortization on right of use asset	23,423	21,980
Gain on bargain purchase	0	(1,204,830)
Amortization of debt issuance costs	3,555	5,333
Amortization of discount - proceeds from sale of discontinued operations	0	(20,712)
Interest accrued on convertible notes	138,796	703,600
Accretion of discounts on marketable securities	(1,098,372)	(2,321,188)
Gain on sale of investment	0	(80,694)
Gain on debt redemption	0	(283,059)
Provision for credit losses	132,025	225,000
Stock-based compensation expense	3,276,379	6,528,397
Change in fair value of warrant liability	0	(563)
Change in operating assets and liabilities:
Accounts receivable	(1,721,398)	(856,719)
Contract assets	65,464	64,097
Prepaid expenses	120,324	75,933
Lease liabilities	(23,423)	(33,381)
Deposits and other assets	679,628	963,710
Accounts payable	2,850,857	821,075
Accrued expenses	842,028	(331,990)
Deferred revenues	763,507	203,118
Other liabilities	(500,000)	(488,599)
Net cash provided by operating activities	2,886,473	282,827
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of marketable securities	(83,174,769)	(152,354,967)
Sale and maturity of marketable securities	96,118,000	166,480,656
Proceeds from sale of investment	0	80,694
Cash from acquisition	0	1,415,696
Net cash from sale of discontinued operations	0	1,666,666
Net cash provided by investing activities	12,943,231	17,288,745
CASH FLOWS FROM FINANCING ACTIVITIES:
Tax payments related to shares withheld for vested restricted stock units	(263,661)	(132,591)
Repurchase of common stock	(412,944)	(292,900)
Cash used to redeem convertible notes	(6,840,000)	(18,598,406)
Net cash used in financing activities	(7,516,605)	(19,023,897)
Net change in cash and cash equivalents	8,313,099	(1,452,325)
Cash and cash equivalents, beginning of year	4,590,661	6,042,986
Cash and cash equivalents, end of year	12,903,760	4,590,661
Supplemental disclosure of cash flow information:
Cash paid (received) for taxes	220,764	(1,629,767)
Cash paid for interest	$ 840,000	$ 1,598,406

Forian Inc. 10-K