SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
| Accounting Policies [Abstract] |
|
| SCHEDULE OF RECEIVABLES |
Receivables
were made up of the following as of each balance sheet date:
SCHEDULE
OF RECEIVABLES
| | |
December 31, | | |
December 31, | |
| | |
2025 | | |
2024 | |
| Due from merchant processors | |
$ | 61,779 | | |
$ | 318,921 | |
| Held in reserve by merchant processors for future returns and chargebacks | |
| 22,309 | | |
| 1,872,035 | |
| Due from payout service providers | |
| 109,367 | | |
| 296,558 | |
| Accounts and other receivables | |
| 376,123 | | |
| 47,213 | |
| Receivable, gross | |
| 569,578 | | |
| 2,534,727 | |
| Allowance for doubtful accounts | |
| - | | |
| - | |
| Receivables | |
$ | 569,578 | | |
$ | 2,534,727 | |
|
| SCHEDULE OF FIXED ASSETS |
Fixed
assets were made up of the following at each balance sheet date:
SCHEDULE
OF FIXED ASSETS
| | |
Estimated | |
| | |
| |
| | |
Useful | |
| | |
| |
| | |
Life | |
December 31, | | |
December 31, | |
| | |
(years) | |
2025 | | |
2024 | |
| Furniture, fixtures, and equipment | |
3-10 | |
$ | 13,108 | | |
$ | 717 | |
| Computer equipment | |
3 | |
| 36,847 | | |
| 28,571 | |
| Data processing equipment | |
3 | |
| 7,381,111 | | |
| 11,824,560 | |
| Manufacturing equipment | |
3-25 | |
| 1,675,993 | | |
| 1,161,701 | |
| | |
| |
| 9,107,059 | | |
| 13,015,549 | |
| Accumulated depreciation | |
| |
| (7,464,072 | ) | |
| (11,147,108 | ) |
| Net book value | |
| |
$ | 1,642,987 | | |
$ | 1,868,441 | |
|
| SCHEDULE OF ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS |
Items
recorded or measured at fair value on a recurring basis in the accompanying consolidated financial statements consisted of the following
items as of December 31, 2025:
SCHEDULE
OF ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Digital assets (see NOTE 5) | |
$ | 5,464,011 | | |
$ | - | | |
$ | - | | |
$ | 5,464,011 | |
| Total Assets | |
$ | 5,464,011 | | |
$ | - | | |
$ | - | | |
$ | 5,464,011 | |
| | |
| | | |
| | | |
| | | |
| | |
| Derivative liability | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | |
| Total Liabilities | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | |
Items
recorded or measured at fair value on a recurring basis in the accompanying consolidated financial statements consisted of the following
items as of December 31, 2024:
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Total Assets | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | |
| | |
| | | |
| | | |
| | | |
| | |
| Derivative liability | |
$ | - | | |
$ | - | | |
$ | 758 | | |
$ | 758 | |
| Total Liabilities | |
$ | - | | |
$ | - | | |
$ | 758 | | |
$ | 758 | |
|
| SCHEDULE OF REVENUE GENERATED |
Revenue
generated for the year ended December 31, 2025, was as follows:
SCHEDULE
OF REVENUE GENERATED
| | |
Membership revenue | | |
Mining revenue | | |
Health and wellness product sales | | |
Other Revenue | | |
Total | |
| Gross billings/receipts | |
$ | 30,895,758 | | |
$ | 3,306,756 | | |
$ | 3,649,751 | | |
$ | 88,733 | | |
$ | 37,940,998 | |
| Refunds, incentives, credits, and chargebacks | |
| (1,670,935 | ) | |
| - | | |
| (12,394 | ) | |
| (2,000 | ) | |
| (1,685,329 | ) |
| Net revenue | |
$ | 29,224,823 | | |
$ | 3,306,756 | | |
$ | 3,637,357 | | |
$ | 86,733 | | |
$ | 36,255,669 | |
Foreign
revenues for the year ended December 31, 2025 were approximately $24.9 million while domestic revenue for the year ended December 31,
2025 was approximately $11.4 million.
Revenue
generated for the year ended December 31, 2024, was as follows:
| | |
Membership revenue | | |
Mining revenue | | |
Health and wellness product sales | | |
Other Revenue | | |
Total | |
| Gross billings/receipts | |
$ | 50,086,839 | | |
$ | 5,186,606 | | |
$ | 110,856 | | |
$ | 23,404 | | |
$ | 55,407,705 | |
| Refunds, incentives, credits, and chargebacks | |
| (3,025,549 | ) | |
| - | | |
| (185 | ) | |
| - | | |
| (3,025,734 | ) |
| Net revenue | |
$ | 47,061,290 | | |
$ | 5,186,606 | | |
$ | 110,671 | | |
$ | 23,404 | | |
$ | 52,381,971 | |
|
| SCHEDULE OF INVENTORY |
Inventory
was made up of the following at each balance sheet date:
SCHEDULE
OF INVENTORY
| | |
December 31, | | |
December 31, | |
| | |
2025 | | |
2024 | |
| Finished goods | |
$ | 38,664 | | |
$ | 27,802 | |
| Work in process | |
| 115,733 | | |
| 312 | |
| Raw materials | |
| 508,603 | | |
| 467,751 | |
| Inventory | |
$ | 663,000 | | |
$ | 495,865 | |
|
| SCHEDULE OF BASIC AND DILUTED INCOME PER SHARE |
Due
to the net loss for the year ended December 31, 2025, basic and diluted income per share were the same, as all securities had an anti-dilutive
effect. The following table illustrates the computation of diluted earnings per share for the years ended December 31, 2024.
SCHEDULE
OF BASIC AND DILUTED INCOME PER SHARE
| | |
December 31, 2024 | |
| Net income | |
$ | 1,190,416 | |
| Less: preferred dividends | |
| (819,340 | ) |
| Add: interest expense on convertible debt | |
| 900,516 | |
| Net income available to common shareholders (numerator) | |
$ | 1,271,592 | |
| | |
| | |
| Basic weighted average number of common shares outstanding | |
| 1,908,219,120 | |
| Dilutive impact of convertible notes | |
| 471,428,571 | |
| Dilutive impact of non-voting membership interest | |
| 565,000,000 | |
| Diluted weighted average number of common shares outstanding (denominator) | |
| 2,944,647,691 | |
| | |
| | |
| Diluted income per common share | |
$ | 0.00 | |
|
| SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES |
The
following table presents potentially dilutive securities that were not included in the computation of diluted net income per share as
their inclusion would be anti-dilutive.
SCHEDULE
OF POTENTIALLY DILUTIVE SECURITIES
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Options to purchase common stock | |
| 351,289,192 | | |
| 359,698,857 | |
| Warrants to purchase common stock | |
| 1,073,386 | | |
| 1,178,090 | |
| Common stock issuable upon conversion of notes | |
| 471,428,571 | | |
| N/A | |
| Common stock issuable upon conversion of non-voting membership interest | |
| 563,855,711 | | |
| N/A | |
|