v3.25.4
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Current Assets:        
Cash    
Current Liabilities:        
Accounts payable and accrued expenses 49,954 7,756    
Due to affiliate 15,600    
Total current liabilities 65,554 7,756    
Total Liabilities 65,554 7,756    
Commitments and Contingencies    
Shareholders’ Deficit:        
Additional paid in capital    
Accumulated deficit (65,554) (7,756)    
Total Shareholders’ Deficit (65,554) (7,756)    
Total Liabilities, Commitments and Contingencies and Shareholders’ Deficit    
Cantor Equity Partners, Inc.        
Current Assets:        
Cash 25,000   $ 25,000
Prepaid expenses 218,208   228,250
Receivable from related party 11,200    
Total Current Assets 254,408   253,250
Available-for-sale debt securities held in Trust Account, at fair value 105,301,074   101,976,363
Forward sale securities asset 1,559,663    
Other assets 105   139,904
Total Assets 107,115,250   102,369,517
Current Liabilities:        
Accrued expenses 1,111,688   109,344 112,607
Total Liabilities 2,016,023   443,099 295,041
Commitments and Contingencies  
Shareholders’ Deficit:        
Preference shares value  
Additional paid in capital   24,712
Accumulated deficit (1,717,262)   (1,644,870) (320,041)
Accumulated other comprehensive income 15,030   94,636
Total Shareholders’ Deficit (1,701,952) (2,625,779) (1,549,954) (295,041)
Total Liabilities, Commitments and Contingencies and Shareholders’ Deficit 107,115,250   102,369,517
Cantor Equity Partners, Inc. | Related Party        
Current Liabilities:        
Note payable – related party 904,335   332,992 182,434
Payable to related party   763
Class A Ordinary Shares        
Shareholders’ Deficit:        
Ordinary shares, Value    
Class A Ordinary Shares | Cantor Equity Partners, Inc.        
Current Liabilities:        
Class A ordinary shares subject to possible redemption 106,801,179   103,476,372
Shareholders’ Deficit:        
Ordinary shares, Value 30   30
Class B Ordinary Shares | Cantor Equity Partners, Inc.        
Shareholders’ Deficit:        
Ordinary shares, Value $ 250   $ 250 [1] $ 288 [2]
[1] The number of shares and the amount reflect 375,000 Class B ordinary shares surrendered by the Sponsor for no consideration on August 14, 2024 (See Note 7).
[2] The number of shares and the amount have been retroactively adjusted to reflect the recapitalization of the Company in the form of the cancellation of 3,593,750 Class B ordinary shares on February 21, 2024 (See Note 7).