v3.25.4
Discontinued Operations And Deconsolidation (Tables)
 3 Months Ended 9 Months Ended
Dec. 31, 2024
Sep. 30, 2025
Discontinued Operations And Deconsolidation [Abstract]    
Schedule of Balance Sheets

The following tables presents a reconciliation of the carrying amounts of major classes of assets and liabilities of the Company classified as discontinued operations as of the periods presented:

 

   December 31,   September 30,   September 30, 
   2024   2024   2023 
Cash  $148,679   $3,305   $11,470 
Customer custodial funds   811,265    31,781    672,500 
Customer digital currency assets   22,930    615,362    
—
 
Due from affiliates   50,768    35,046    2,039,274 
Notes receivable, related parties, net   
—
    
—
    162,820 
Other classes of current assets that are not major   55,410    35,756    26,644 
Total current assets   1,089,052    721,250    2,912,708 
Other classes of non-current assets that are not major   14,887    19,290    33,000 
Total assets  $1,103,939   $740,540   $2,945,708 

 

    December 31,     September 30,     September 30,  
    2024     2024     2023  
Accounts payable   $ 504,249     $ 448,307     $ 138,666  
Customer custodial cash liabilities     972,941       827,589       1,443,011  
Customer digital currency liabilities     10,514       23,605       —  
Due to affiliates     479,608       537,053       5,552,931  
Loan payable, related parties, current     682,875       720,515       —  
Interest payable, related parties, current     203,755       169,052       —  
Accrued expenses and other current liabilities     308,567       357,835       208,228  
Total current liabilities     3,162,509       3,083,956       7,342,836  
Loan payable – related parties, net of current portion     17,368       26,362       150,619  
Interest payable – related parties, net of current portion     —       2,474       1,208  
Total liabilities   $ 3,179,877     $ 3,112,792     $ 7,494,663  

The following tables present the balance sheets and the results of operations of the Company classified as discontinued operations for the periods presented:

   September 30,   December 31, 
   2025   2024 
   (Unaudited)   (Audited) 
ASSETS        
         
CURRENT ASSETS:        
Cash and cash equivalents  $
-
   $148,679 
Customer custodial funds   
-
    811,265 
Customer digital currency assets   
-
    22,930 
Digital assets   
-
    550 
Due from affiliates   
-
    50,768 
Other current assets   
-
    54,860 
           
TOTAL CURRENT ASSETS   
-
    1,089,052 
           
NON-CURRENT ASSETS:          
Intangible assets, net   
-
    14,887 
           
TOTAL NON-CURRENT ASSETS   
-
    14,887 
           
TOTAL ASSETS  $
-
   $1,103,939 
           
LIABILITIES AND STOCKHOLDERS’ DEFICIT          
           
CURRENT LIABILITIES:          
Accounts payable  $
-
   $504,249 
Customer custodial cash liabilities   
-
    972,941 
Customer digital currency liabilities   
-
    10,514 
Due to affiliates   
-
    479,608 
Loans payable - related parties, current   
-
    682,875 
Interest payable - related parties, current   
-
    203,755 
Accrued expenses and other current liabilities   
-
    308,567 
           
TOTAL CURRENT LIABILITIES   
-
    3,162,509 
           
NON-CURRENT LIABILITIES:          
Loan payable - related parties, net of current portion   
-
    17,368 
           
TOTAL NON-CURRENT LIABILITIES   
-
    17,368 
           
TOTAL LIABILITIES   
-
    3,179,877 
Schedule of Consolidated Statements of Operations

The following table presents the results of operations of the Company classified as discontinued operations for the periods presented:

 

   Three months ended
December 31,		   For the Years Ended
September 30,		 
   2024   2024   2023 
REVENUES            
Revenue - general support services - related party  $
—
   $4,800,000   $19,200,000 
Revenue - financial services   403,558    1,113,461    2,097,642 
Total revenues   403,558    5,913,461    21,297,642 
                
COSTS OF REVENUES               
Cost of revenue - general support services - related party   
—
    4,650,000    18,775,000 
Cost of revenue - financial services   42,944    264,945    2,865,783 
Total costs of revenues   42,944    4,914,945    21,640,783 
                
GROSS PROFIT (LOSS)               
Gross profit - general support services - related party   
—
    150,000    425,000 
Gross profit (loss) - financial services   360,614    848,516    (768,141)
Total gross profit (loss)   360,614    998,516    (343,141)
                
OPERATING EXPENSES:               
Advertising   91    44,488    15,243 
Professional fees   187,006    747,252    857,364 
Compensation and related benefits   159,240    825,315    702,625 
Amortization of intangible assets   3,370    13,813    8,549 
Bad debt expense – related parties   
—
    6,141,000    650,285 
Other general and administrative   75,534    300,071    226,262 
Impairment loss   
—
    
—
    
 
 
Total operating expenses   425,241    8,071,939    2,460,328 
                
LOSS FROM OPERATIONS   (64,627)   (7,073,423)   (2,803,469)
                
OTHER (EXPENSE) INCOME:               
Interest expense - related parties   (82,186)   (162,621)   (1,213)
Loss on extinguishment of vendor obligations   
—
    
—
    
 
 
Gain on extinguishment of vendor obligations   
—
    
—
    
 
 
Gain on termination of GSS GSA – related party   
—
    6,082,962    
 
 
Gain on extinguishment of due to affiliates   
—
    
—
    
 
 
Other (expense) income   (11,162)   12,161    36,568 
Total other (expense) income, net   (93,348)   5,932,502    35,355 
NET LOSS  $(157,975)  $(1,140,921)  $(2,768,114)
   For the Three Months Ended
September 30,		   For the Nine Months Ended
September 30,		 
   2025   2024   2025   2024 
REVENUES                
Revenue - financial services   83,309    226,960    568,860    661,931 
Total revenues   83,309    226,960    568,860    661,931 
                     
COSTS OF REVENUES                    
Cost of revenue - financial services   16,371    15,558    95,929    128,492 
Total costs of revenues   16,371    15,558    95,929    128,492 
                     
GROSS PROFIT (LOSS)                    
Gross profit (loss) - financial services   66,938    211,402    472,931    533,439 
Total gross profit (loss)   66,938    211,402    472,931    533,439 
                     
OPERATING EXPENSES:                    
Advertising   2,260    113    9,950    23,036 
Professional fees   36,480    165,950    273,835    599,978 
Compensation and related benefits   42,327    157,419    331,057    591,856 
Amortization of intangible assets   1,030    3,445    7,727    10,360 
Other general and administrative   20,343    114,559    169,187    235,241 
                     
Total operating expenses   102,440    441,486    791,756    1,460,471 
                     
LOSS FROM OPERATIONS   (35,502)   (230,084)   (318,825)   (927,032)
                     
OTHER (EXPENSE) INCOME:                    
Interest expense - related parties   (23,318)   (149,523)   (189,664)   (161,029)
Gain on termination of GSS GSA – related party   
-
    6,082,962    
-
    6,082,962 
Other income (expense)   (1,444)   (31,136)   47,518    (14,943)
                     
Total other income (expense), net   (24,762)   5,902,303    (142,146)   5,906,990 
                     
LOSS BEFORE INCOME TAXES   (60,264)   5,672,219    (460,971)   4,979,958 
                     
INCOME TAXES   
-
    
-
    
-
    
-
 
                     
NET LOSS FROM DISCONTINUED OPERATIONS  $(60,264)   5,672,219    (460,971)  $4,979,958