Nexalin Technology Inc 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______. Commission file number: 001-41507 NEXALIN TECHNOLOGY, INC. (Exact name of Registrant as specified in its charter) Registrant’s telephone number, including area code: (832) 260-0222 Securities registered pursuant to Section12(b) of the Act: Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, everyInteractive Data File required to be submitted and posted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during thepreceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes☒No☐ Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of large accelerated filer, accelerated filer, smaller reporting company,and emerging growth company in Rule12b-2 of the Exchange Act. Accelerated Filer☐Smaller Reporting Company☒Emerging Growth Company☒ Large Accelerated Filer☐Non-Accelerated Filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the Registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ As of August10, 2026, there were 22,036,402, shares of the Registrant’s common stock outstanding. NEXALIN TECHNOLOGY, INC. AND SUBSIDIARIES FORM 10-Q For the Quarter Ended June30, 2026PagePART I. FINANCIAL INFORMATIONITEM 1.Unaudited Condensed Consolidated Financial Statements1Condensed Consolidated Balance Sheets as of June 30, 2026 and December31, 20251Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and sixmonths ended June30, 2026 and 20252Condensed Consolidated Statements of Changes in Stockholders’ Equity for the three and six monthsended June30, 2026 and 20253Condensed Consolidated Statements of Cash Flows for the six months ended June30, 2026 and 20254Notes to Unaudited Condensed Consolidated Financial Statements5ITEM 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations21ITEM 3.Quantitative and Qualitative Disclosures about Market Risk33ITEM 4.Controls and Procedures33PART II. OTHER INFORMATIONITEM 1.Legal Proceedings35ITEM 1A.Risk Factors35ITEM 2.Unregistered Sales of Equity Securities and Use of Proceeds37ITEM 3.Defaults Upon Senior Securities38ITEM 4.Mine Safety Disclosures38ITEM 5.Other Information38ITEM 6.Exhibits39SIGNATURES40i NEXALIN TECHNOLOGY, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited) Cash and cash equivalents$1,004,958$654,783Short-term investments-3,068,429Accounts receivable, including related party receivables of $7,974 and $37,812, respectively52,93081,571Inventory233,462131,473Prepaid expenses and other current assets570,756363,014Total Current Assets1,862,1064,299,270Equipment, net of accumulated depreciation of $9,527 and $2,683, respectively42,432-Intangible assets, net1,099,641336,049Total Assets$3,004,179$4,635,319 Current Liabilities:Accounts payable$239,448$244,579Accrued expenses858,504642,754Deferred share obligation (Note 4)386,804-Total Current Liabilities1,484,756887,333Total Liabilities1,484,756887,333 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. NEXALIN TECHNOLOGY, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(Unaudited) NEXALIN TECHNOLOGY, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY(Unaudited) NEXALIN TECHNOLOGY, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) NEXALIN TECHNOLOGY, INC. AND SUBSIDIARIESNOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1 — NATURE OF THE ORGANIZATION AND BUSINESS Corporate History Nexalin Technology, Inc. (the “Company” or “Nexalin”) was formed on November17, 2021 as a Delaware corporation. We were originally formed as a Nevada corporation on October19, 2010 as Nexalin Technology, Inc. (“Nexalin Nevada”). OnDecember1, 2021, we completed a corporate reorganization pursuan