v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)
Common Stock
Class A
Common Stock
Class B
Common Stock
Class C
Common Stock
Class F
Additional Paid-In Capital
Accumulated Deficit
Noncontrolling Interests
Total
Balance as of beginning at Dec. 31, 2023 $ 10,939 $ 3,346 $ 899 $ 9,807 $ 49,875,530 $ (10,073,191) $ (151,670) $ 39,675,660
Balance as of beginning (in units) at Dec. 31, 2023 10,939,165 3,346,358 898,316 9,807,461        
Stock options exercised       $ 103 224,064     224,167
Stock options exercised (in units)       102,889        
Issuance of common stock, net of fees     $ 582   8,249,389     8,249,971
Issuance of common stock, net of fees (in units)     581,803          
Transfer of common stock     $ 201 $ (201)        
Transfer of common stock (in units)     201,304 (201,304)        
Repurchase of common stock       $ (8) (113,886)     (113,894)
Repurchase of common stock (in units)       (8,032)        
Stock-based compensation expense         1,515,274     1,515,274
Cumulative translation adjustment           (2,063)   (2,063)
Net income (loss)           (37,326,897) (43,210) (37,370,107)
Balance as of ending at Jun. 30, 2024 $ 10,939 $ 3,346 $ 1,682 $ 9,701 59,750,371 (47,402,151) (194,880) 12,179,008
Balance as of ending (in units) at Jun. 30, 2024 10,939,165 3,346,358 1,681,423 9,701,014        
Balance as of beginning at Mar. 31, 2024 $ 10,939 $ 3,346 $ 1,085 $ 9,636 50,908,243 (24,919,100) (171,869) 25,842,280
Balance as of beginning (in units) at Mar. 31, 2024 10,939,165 3,346,358 1,084,484 9,636,279        
Stock options exercised       $ 84 152,388     152,472
Stock options exercised (in units)       84,283        
Issuance of common stock, net of fees     $ 582   8,249,389     8,249,971
Issuance of common stock, net of fees (in units)     581,803          
Transfer of common stock     $ 15 $ (15)        
Transfer of common stock (in units)     15,136 (15,136)        
Repurchase of common stock       $ (4) (62,558)     (62,562)
Repurchase of common stock (in units)       (4,412)        
Stock-based compensation expense         502,909     502,909
Cumulative translation adjustment           (238)   (238)
Net income (loss)           (22,482,813) (23,011) (22,505,824)
Balance as of ending at Jun. 30, 2024 $ 10,939 $ 3,346 $ 1,682 $ 9,701 59,750,371 (47,402,151) (194,880) 12,179,008
Balance as of ending (in units) at Jun. 30, 2024 10,939,165 3,346,358 1,681,423 9,701,014        
Balance as of beginning at Dec. 31, 2024 $ 11,271 $ 3,005 $ 2,950 $ 9,761 95,472,458 (99,870,749) 8,222,953 $ 3,851,649
Balance as of beginning (in units) at Dec. 31, 2024 11,270,828 3,005,416 2,950,235 9,761,308       26,987,787
Stock options exercised       $ 53 190,680     $ 190,733
Stock options exercised (in units)       53,184        
Issuance of common stock, net of fees     $ 1,464   38,502,206     38,503,670
Issuance of common stock, net of fees (in units)     1,463,692          
Transfer of common stock $ (15) $ (8) $ 27 $ (4)        
Transfer of common stock (in units) (15,142) (8,181) 27,631 (4,308)        
Repurchase of common stock       $ (4) (132,936)     (132,940)
Repurchase of common stock (in units)     (18) (4,097)        
Stock-based compensation expense         4,759,765     4,759,765
Convertible note beneficial conversion feature         1,114,338     1,114,338
Issuance of warrants         222,868     222,868
Contributions from noncontrolling interests, net of fees             8,332,762 8,332,762
Digital assets market value adjustment           15,962,018   15,962,018
Redemptions from noncontrolling interests             (11,750,000) (11,750,000)
Net income (loss)           (53,299,432) 36,657 (53,262,775)
Balance as of ending at Jun. 30, 2025 $ 11,256 $ 2,997 $ 4,441 $ 9,806 140,129,379 (137,208,163) 4,842,372 $ 7,792,088
Balance as of ending (in units) at Jun. 30, 2025 11,255,686 2,997,235 4,441,540 9,806,087       28,500,548
Balance as of beginning at Mar. 31, 2025 $ 11,271 $ 3,005 $ 3,402 $ 9,788 112,917,006 (121,325,641) 2,425,339 $ (5,955,830)
Balance as of beginning (in units) at Mar. 31, 2025 11,270,828 3,005,416 3,401,888 9,788,472        
Stock options exercised       $ 24 110,193     110,217
Stock options exercised (in units)       23,996        
Issuance of common stock, net of fees     $ 1,012   23,705,954     23,706,966
Issuance of common stock, net of fees (in units)     1,012,026          
Transfer of common stock $ (15) $ (8) $ 27 $ (4)        
Transfer of common stock (in units) (15,142) (8,181) 27,631 (4,308)        
Repurchase of common stock       $ (2) (67,909)     (67,911)
Repurchase of common stock (in units)     (5) (2,073)        
Stock-based compensation expense         2,126,929     2,126,929
Convertible note beneficial conversion feature         1,114,338     1,114,338
Issuance of warrants         222,868     222,868
Contributions from noncontrolling interests, net of fees             8,104,168 8,104,168
Redemptions from noncontrolling interests             (5,750,000) (5,750,000)
Net income (loss)           (15,882,522) 62,865 (15,819,657)
Balance as of ending at Jun. 30, 2025 $ 11,256 $ 2,997 $ 4,441 $ 9,806 $ 140,129,379 $ (137,208,163) $ 4,842,372 $ 7,792,088
Balance as of ending (in units) at Jun. 30, 2025 11,255,686 2,997,235 4,441,540 9,806,087       28,500,548