Segment and geographic information

6 Months Ended

Jun. 30, 2025

12. Segment and geographic information

The Company reports as one reporting segment related to software development services. The Company’s CEO, who is the Company’s Chief Operating Decision Maker (“CODM”) assesses performance of our reporting segment and decides how to allocate resources based on consolidated net loss from operations that is also reported on the consolidated statement of operations as consolidated net loss from operations for continuing operations. The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets from continuing operations. The Company does not have separate business units or segment managers or vertical leaders who report to CODM with respect to operations, operating results or planning for levels or components below the total Company level. The Company’s reporting segment is strictly related to a Service Agreement with a related party, Everli S.p.A. for providing software development services.

The Company’s segment operating performance measures are segment Revenue and Operating Expenses. The CODM does not evaluate operating segment using asset information and, accordingly, the Company does not report asset information by segment. The following table provides information about Company’s segments and a reconciliation of the total segment Revenue and Operating Expenses to loss from operations.


	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Revenue
IT Services Revenues – Related Party		476			398			953			525
Total Revenues	$	476		$	398		$	953		$	525

Operating expenses:
Cost of revenues
Developer Payroll		(370	)		(308	)		(676	)		(460	)
Depreciation		—			(15	)		(15	)		(29	)
Other Cost of revenues		(2	)		(5	)		(4	)		(14	)
Total Cost of Revenues	$	(372	)	$	(328	)	$	(695	)	$	(503	)

General and administrative
Professional services fees		(265	)		(322	)		(476	)		(688	)
Non-income taxes		(222	)		—			(222	)		—
G&A Payroll		(60	)		(142	)		(112	)		(641	)
Software		(34	)		(71	)		(77	)		(164	)
Lease expenses for offices and corporate houses		(18	)		(23	)		(31	)		(50	)
Amortization, depreciation and loss on disposal		(9	)		(19	)		(18	)		(38	)
Other Corporate expenses		(37	)		(276	)		(61	)		(502	)
Total General and administrative	$	(645	)	$	(853	)	$	(997	)	$	(2,083	)

Loss from operations		(541	)		(783	)		(739	)		(2,061	)

Interest expense, net		(148	)		(803	)		(327	)		(1,608	)
Changes in fair value of financial liabilities, net		(8	)		—			(8	)		—
Legal claims - accruals		—			(41	)		—			(2,041	)
Gain (Loss) on extinguishment/issuance of financial debts		(250	)		94			(250	)		822
SEPA financial expenses, net		(500	)		—			(500	)		(102	)
Other income (expenses), net		11			(14	)		10			33
Total non-operating expenses, net		(895	)		(764	)		(1,075	)		(2,896	)
Income Taxes		—			—			—			—
Net loss from continuing operations		(1,436	)		(1,547	)		(1,814	)		(4,957	)
Net loss from discontinued operations		(292	)		(3	)		(143	)		(1,112	)
Net loss		(1,728	)		(1,550	)		(1,957	)		(6,069	)

Revenue by geography is based on where the software development was generated. The following table set forth revenue by geographic area for the three and six months ended June 30, 2025, and 2024.

Schedule of revenue by geography
	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Revenue
Serbia		476		398		953		525
Total Revenue	$	476	$	398	$	953	$	525

Long-lived assets, net includes property and equipment, intangible assets, goodwill, and other assets. The following table sets forth long-lived assets, net by geographic area as of June 30, 2025, and December 31, 2024.


	June 30,		December 31,
	2025		2024
Serbia	$	47	$	52
United States		29		49
Total long-lived assets	$	76	$	101