v3.26.1

Condensed Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 4,584,100	$ 5,881,217
Prepaid expenses and other current assets	218,848	299,666
Total Current Assets	4,802,948	6,180,883
Intangible assets, net	2,643	2,784
Equity method investment	421,730	489,700
Total Assets	5,227,321	6,673,367
Current Liabilities:
Accounts payable	573,567	655,207
Accrued expenses	936,504	741,702
Total Current Liabilities	1,510,071	1,396,909
Total Liabilities	1,510,071	1,396,909
Commitments and contingencies – see Note 7
Stockholders’ Equity
Preferred Stock, 5,000,000 shares authorized with a par value of $0.001 per share, 0 shares outstanding at March 31, 2026 and December 31, 2025
Common Stock, 100,000,000 shares authorized with a par value of $0.001 per share, 1,509,200 and 1,111,010 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively	1,509	1,111
Additional paid in capital	95,710,627	95,247,841
Accumulated deficit	(91,994,886)	(89,972,494)
Total Stockholders’ Equity	3,717,250	5,276,458
Total Liabilities and Stockholders’ Equity	$ 5,227,321	$ 6,673,367

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

ADIAL PHARMACEUTICALS, INC. 10-Q