capital market facilities and as of the date of our 10Q filings the ATM facility had generated an additional approximately dollars 2.9 million in net proceeds together these facilities enhance our financial flexibility as we continue advancing commercial discussions and pursuing broader project financing initiatives turning now to our financial results for the second quarter of 2026 The company remains pre-revenue as we continue to advance development of the Muscogee Refinity. As previously disclosed, our ability to meet working capital and capital expenditure requirements over the next 12 months remains dependent on our ability to raise additional capital, equity, debt, or other financing sources. As of June 30, 2026, we had cash and cash equivalence of approximately 0.5 million dollars compared to 3.5 million dollars as of december 31 2025. the change reflects funding operating activities and continued investment in advancing the muskogee refinery during the first half of the year throughout the quarter we remain disciplined in managing operating expenditures while continuing to invest in activities that support engineering commercial development and long-term project value for the second quarter we reported a net loss of 3.9 million dollars compared to 3.7 million dollars in the prior year period. The year-over-year increase primarily reflects financing related costs associated with our capital structure partially offset by favorable changes in the fair value of our warrant libraries. General and administrative expenses continue to support engineering, commercial and corporate activities as we advance the process our basic and diluted loss per share was 35 cents compared to 59 cents in the prior year quarter primarily reflecting the higher weighted average shares of sterling following capital raises completed over the past year for the first six months of 2026 net cash used in operating activities was four million dollars compared to 4.5 million dollars during the same period in 2025 reflecting continued investment in advancing the business while maintaining disciplined cash management net cash used in investing activities totaled 0.2 million dollars for the first six months of 2026 compared to 2.2 million dollars in the prior year period primarily reflecting a more disciplined and phased deployment of capital as the project continues to advance to engineering validation with several important project development milestones achieved including completion of final major permitting and fel-free engineering our current investment profile is increasingly focused on targeted pre-construction and strategic development activities as we position the muskogia refinery for construction net cash provided by financing activities was 1.3 million dollars compared to 8.4 million dollars in the first six months of 2025 reflecting proceeds from our equity facilities partially offset by debt heating. The prior year period benefited from increased proceeds from public offerings completed during the first half of 2025. Regarding our compliance with NASDAQ listing requirements, we continue to actively evaluate all available alternatives to address our continued listing requirements, including those relating to minimum market value thresholds. We remain committed to maintaining our NASDAQ listing while acting in the best interest of our shareholders. To conclude, while we remain a pre-revenue company, our financial priorities remain clear. Maintaining disciplined liquidity management, advancing project readiness, and supporting broader financing strategy for our economy. We believe the financing tools now in place, together with continued commercial execution and project execution, provide solid foundation as we pursue the next stage of development. As always, we remain committed to disciplined capital allocation, prudent liquidity management, and creating long-term value for our shareholders. With that, I conclude my remarks. And now turn it back to Roshan.
Thanks, Uday. Before we conclude, I'd like to reiterate that our focus remains on disciplined execution and advancing the work that meaningfully strengthens the project's path toward financing and construction. Thank you to our shareholders for your continued support and Stardust power. We appreciate your time today and look forward to updating you on our progress next quarter. With that, we are happy to take your questions. Operator?
Operator
Thank you. Ladies and gentlemen, to ask the question, please press star 11 on your telephone, then wait for your name to be announced. To withdraw your question, please press star 11 again. Please stand by while we compile the Q&A Roster.
