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style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have developed and implemented cybersecurity risk management processes intended to protect the confidentiality, integrity, and availability of our critical systems and information. While everyone at our company plays a part in managing cybersecurity risks, primary cybersecurity oversight responsibility is shared by our board of directors and senior management.</span>Our cybersecurity risk management program includes the following strategies for managing cybersecurity risks:<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risk Assessment Processes:</b> We conduct regular risk assessments to proactively identify potential cybersecurity threats and vulnerabilities. These assessments involve thorough evaluations of our IT infrastructure, data systems, and processes to pinpoint areas of weakness.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Proactive Security Measures:</b> In addition to risk assessments, we employ proactive security measures to enhance our cyber defenses. These measures include the continuous monitoring of network activity, the implementation of access controls and encryption protocols, and the deployment of intrusion detection systems to swiftly detect and respond to any suspicious activities.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Framework for Identifying and Mitigating Threats:</b> We follow a framework for identifying and mitigating cybersecurity threats, which outlines procedures for threat detection, incident response, and risk mitigation. </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Employee Training and Awareness Programs:</b> We provide training to our management and employees designed to equip employees with the knowledge and skills necessary to identify and respond to cybersecurity risks, tailored based on the persons’ roles within our organization.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Technology and External Consultants:</b> We use external consultants or other third-party experts and service providers, where considered appropriate, to assess, test, or otherwise assist with aspects of our cybersecurity controls. </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> Over the past fiscal year, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90A_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantTextBlock_c20250101__20251231_zpwz3IUW3cal">we have <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90F_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20250101__20251231_ziFA0ADXyCKl">no</span>t identified risks from known cybersecurity threats that have materially affected or are reasonably likely to materially affect us, including our operations, business strategy, operating results, or financial condition. We will continue to monitor and assess our cybersecurity risk management program as well as invest in and seek to improve such systems and processes as appropriate. If we were to experience a material cybersecurity incident in the future, such incident may have a material adverse effect on our reputation, as well as our operations, business strategy, operating results, and financial condition.</span> we have <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90F_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20250101__20251231_ziFA0ADXyCKl">no</span>t identified risks from known cybersecurity threats that have materially affected or are reasonably likely to materially affect us, including our operations, business strategy, operating results, or financial condition. We will continue to monitor and assess our cybersecurity risk management program as well as invest in and seek to improve such systems and processes as appropriate. If we were to experience a material cybersecurity incident in the future, such incident may have a material adverse effect on our reputation, as well as our operations, business strategy, operating results, and financial condition. false <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Board Governance</i></b></span><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_902_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleFlag_dbT_c20250101__20251231_zFOxiqQEkeb">Our board of directors is charged with overall oversight of our risk management, including our information technology and cybersecurity policies, procedures, and risk assessments. However, certain members of management are to report to our board of directors on information security matters as necessary, regarding any significant cybersecurity incidents, as well as any incidents with lesser impact potential</span>.<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> One of the key functions of our board of directors is informed oversight of our various processes for managing risk. An overall review of risk is inherent in our board of directors’ ongoing consideration of our long-term strategies, transactions and other matters presented to and discussed by the board of directors. This includes a discussion of the likelihood and potential magnitude of various risks, including cybersecurity risks, and any actions management has taken to limit, monitor or control those risks. true false false false false false false 606 <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have audited the accompanying consolidated balance sheets of Venu Holding Corporation and Subsidiaries (the Company) as of December 31, 2025 and 2024, and the related consolidated statements of operations, changes in stockholders’ equity, and cash flows for each of the years in the two-year period ended December 31, 2025, and the related notes (collectively referred to as the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the years in the two-year period ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.</span> GRASSI & CO., CPAs, P.C Jericho, New York 41306358 37969454 474467 225283 2546523 850951 44327348 39045688 305947277 137215936 144558 211276 17397009 1351600 1999999 555262 550000 183582 43015 326227687 139371827 370555035 178417515 25129485 7283033 27847751 3556819 577360 262387 1542564 1528159 9433313 605261 364244 223333 1026300 400108 2101501 57352162 24529456 16886027 1020604 8951600 7950000 1907530 30038214 56568151 14100217 171703684 47600277 0.001 1342 675 675 0 0 0 10125000 0.001 0.001 144000000 144000000 42860764 42860764 37471465 37471465 42961 37472 0.001 0.001 1000000 1000000 304990 304990 379990 379990 304 379 304 379 222052687 144546368 -91454930 -47361208 130641022 97223011 752435 276245 7899600 1500076 122741422 95722935 65984929 35094303 188726351 130817238 370555035 178417515 9773696 10828972 6045286 4648478 2078064 2356933 17897046 17834383 2379204 2409133 3575159 2554606 4658088 4383505 1838238 1361787 36954414 18832115 15345687 12015133 6177692 3656229 70928482 45212508 6608315 6896983 -46134453 -27378125 4582602 3201230 199168 2500006 135000 130387 -4646770 -5570849 -50781223 -32948974 -6687501 -2609219 -44093722 -30339755 223875 -44317597 -30339755 363552 363552 724629 724629 -1.10 -1.10 -0.86 -0.86 6758034 6758034 -0.86 -0.86 16319014 16319014 -0.86 -0.86 39981214 39981214 11642944 11642944 -1.10 -1.10 -0.86 -0.86 379990 379 37471465 37472 144546368 -47361208 276245 -1500076 95722935 35094303 130817238 2950722 2951 33071150 33074101 33074101 127273 127 344973 345100 345100 1210926 1210926 1210926 30000 30 277870 277900 277900 15067787 15067787 15067787 146034 146 803558 803704 803704 36460 -476190 476 476190 6399524 6400000 6400000 1000000 1000 9999000 10000000 10000000 1500000 1600 14998718 15000318 15000318 -223875 -223875 -223875 -75000 -75 75000 75 1591648 1591648 40454795 42046443 2876668 2876668 -44093722 -44093722 -6687501 -50781223 304990 304 42860764 42961 222052687 -91454930 752435 -7899600 122741422 65984929 188726351 1959445 1960 30306030 30306 47743085 -17021453 76245 -76 30753822 31225863 61979685 1959445 1960 30306030 30306 47743085 -17021453 76245 -76 30753822 31225863 61979685 2832584 2833 467757 468 32056249 32059550 32059550 52847 52 52 52 3000140 3000140 3000140 700000 700 6999300 7000000 7000000 4865833 4865833 4865833 276100 276 2760724 2761000 2761000 32940 32 43752 44 766844 766920 766920 -200000 200 -200 200000 1500000 1500000 1500000 2500000 2500000 2500000 1380000 1380 12652720 12654100 12654100 -1628636 -1629 1628636 1629 -3666 -4 3666 4 -33838614 -33839 33838614 33839 -35776290 -35776 35776290 35776 31201273 31201273 7412094 38613367 934435 934435 -30339755 -30339755 -2609219 -32948974 379990 379 37471465 37472 144546368 -47361208 276245 -1500076 95722935 35094303 130817238 379990 379 37471465 37472 144546368 -47361208 276245 -1500076 95722935 35094303 130817238 -50781223 -32948974 6608315 6896983 1168304 766920 15067787 12015133 277900 916681 2917989 532187 498808 6177692 3656229 2500000 668403 -275514 249184 39537 1695572 641736 140567 -332889 17846452 4694025 24067057 2858450 314973 -69070 14405 764078 -471156 -465890 1224933 6250000 7649200 3757717 141655251 72483650 1999999 5262 2627990 7600000 74085 -133432522 -72409565 18000000 10000 30789000 -0 6200000 10125000 33074101 31960250 12654100 345100 52 42046443 38463367 1500000 382750 313136 2000000 100000 2876668 934435 129120226 86420198 3336904 17768350 37969454 20201104 41306358 37969454 621391 406483 42918071 16498944 471476 25000318 1210926 3000140 223875 6400000 10000000 2000000 3267000 200000 100000 <p id="xdx_800_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zW2oZVNI2tj6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – <span id="xdx_82A_z7lkHIPJCWy3">ORGANIZATION AND DESCRIPTION OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Organization</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Venu Holding Corporation (“Venu” or “the Company” f/k/a Notes Live, Inc.) is a Colorado corporation formed on March 13, 2017. The Company is a hospitality and entertainment business to which it earns revenues from operating restaurants, hosting events, renting event space and operating outdoor amphitheaters. The Company and its subsidiaries operate within the United States of America.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s registered office is at 1755 Telstar Drive, Suite 501, Colorado Springs, Colorado 80920.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_ecustom--ScheduleOfCompanysSubsidiariesAndInterestsTableTextBlock_zKb34Bq1U519" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s subsidiaries and its interests in each are presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_8B6_zzKX4S4opVG8" style="display: none">SCHEDULE OF COMPANY’S SUBSIDIARIES AND ITS INTERESTS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">December 31,</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">2025</p></td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">December 31,</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">2024</p></td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">Name of Entity</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Place of Incorporation</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Interest</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Interest</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 42%; text-align: left">Bourbon Brothers Holdings LLC (“BBH”)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersHoldingsLLCMember_zkLc5xlBMmSb" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersHoldingsLLCMember_z9YpltFivlv" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Bourbon Brothers Smokehouse and Tavern CS, LLC (“BBST”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersSmokehouseAndTavernCSLLCMember_z1QbPVTZLnGi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersSmokehouseAndTavernCSLLCMember_z5QoiEpJz0xi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Bourbon Brothers Presents, LLC d/b/a Phil Long Music Hall (“BBP”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersPresentsLlcMember_fKg_____zuyxeyIyRwNk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">89</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersPresentsLlcMember_fKg_____zvXt188SeFxc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">89</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Bourbon Brothers Smokehouse and Tavern GA, LLC (“BBSTGA”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Georgia</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersSmokehouseAndTavernGaLlcMember_zoiNT46Jkvqh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersSmokehouseAndTavernGaLlcMember_z7aW0UX4CFll" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Bourbon Brothers Presents GA, LLC (“BBPGA”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Georgia</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersPresentsGaLlcMember_ziYQB48CLaX8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersPresentsGaLlcMember_zyHm3AOG0mb9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Notes Holding Company, LLC (“NH”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesHoldingCompanyLlcMember_z0bp18inmTvc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesHoldingCompanyLlcMember_zHgIsCDReitk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">13141 Notes, LLC d/b/a Notes (“Notes”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OneThreeOneFourOneNotesLlcMember_z8PtA4hGWB4b" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OneThreeOneFourOneNotesLlcMember_zyXdj4d9oCNk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset Amphitheater, LLC (“Sunset”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAmphitheaterLlcMember_fKg_____z6on1cvyPeJb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">14</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAmphitheaterLlcMember_fKg_____z66p4YGm6jg" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">10</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Hospitality Income &amp; Asset, LLC (“HIA”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HospitalityIncomeAndAssetLlcMember_fKg_____ztx8mvOsIaqh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">99</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HospitalityIncomeAndAssetLlcMember_fKg_____zam0aT3mvoO9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">99</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Bourbon Brothers Licensing, LLC (“BBL”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersLicensingLlcMember_zgC6Ab0moygi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersLicensingLlcMember_zUkvff6yMeS2" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">GA HIA, LLC (“GAHIA”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--GaHiaLlcMember_fKg_____zl7KL2hzVMGi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">15</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--GaHiaLlcMember_fKg_____zBKd90zOd6V7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">16</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Notes Live Real Estate, LLC  (“NotesRE”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesLiveRealEstateLlcMember_zhRpGLRJg6Q6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesLiveRealEstateLlcMember_zXyyokd1q2Lk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Roth’s Sea &amp; Steak, LLC (“Roth Sea”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--RothsSeaAndSteakLLCMember_zSj9EeDFDU9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--RothsSeaAndSteakLLCMember_zASM953jaA1h" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset Operations, LLC (“SunsetOps”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetOperationsLlcMember_zLdPYq5uSU7h" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetOperationsLlcMember_zMkCwQeoyPG8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset Hospitality Collection, LLC (“SHC”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetHospitalityCollectionLlcMember_fKg_____zLs4qM2qC7Jg" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">54</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetHospitalityCollectionLlcMember_fKg_____zfppXJA19Yk4" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">47</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Notes Hospitality Collection, LLC (“NHC”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesHospitalityCollectionLlcMember_zY05eChjpHQ" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesHospitalityCollectionLlcMember_zCFgyG62PY75" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset at Broken Arrow, LLC (“BA”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtBrokenArrowLlcMember_fKg_____zGT8NS1eAj94" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">54</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtBrokenArrowLlcMember_fKg_____zjEPYxkt5p7c" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">74</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset at Mustang Creek, LLC (“MC”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtMustangCreekLlcMember_zvE8uRE1crbh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtMustangCreekLlcMember_z4Bn0xrus5li" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">89</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset at McKinney, LLC (“MK”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtMcKinneyLlcMember_fKg_____zSf8oiQcChI8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">68</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtMcKinneyLlcMember_fKg_____ziQY9M5oVQAk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">80</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset Operations at McKinney, LLC (“McKinneyOps”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetOperationsAtMcKinneyLlcMember_ztioOGAS9RI9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetOperationsAtMcKinneyLlcMember_zHp4OUcEvxhh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset at El Paso, LLC (“EP”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtElPasoLlcMember_fKg_____zeL9zvy9FHMk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">98</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtElPasoLlcMember_fKg_____zVcJxm06rg4d" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset Operations at El Paso, LLC (“EPOps”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetOperationsAtEiPasoLlcMember_z5fEx9wf7Aj3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetOperationsAtEiPasoLlcMember_zfbuktQ4fOkf" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Polaris Pointe Parking, LLC (“PPP”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PolarisPointeParkingLlcMember_zQ6eFzvMnanj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PolarisPointeParkingLlcMember_zVVpVIavOcFd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Venu Income, LLC (“Income”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuIncomeLLCMember_fKg_____zfugctWzLfLl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">94</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuIncomeLLCMember_fKg_____zdVp45myQS8a" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Venu VIP Rides, LLC (“Rides”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuVipRidesLlcMember_fKg_____zjmxiDOopzMf" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">50</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuVipRidesLlcMember_fKg_____zMrl2CSrLPd8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">50</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Notes CS I, DST (“Trust”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Delaware</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesCsiDstLlcMember_fKg_____zrcXltbMnpgj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">86</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesCsiDstLlcMember_fKg_____zffEe6Gql6bl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Notes CS I Holdings, LLC (“Holdings LLC”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesCsiHoldingsLlcMember_zy6a865O32I1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesCsiHoldingsLlcMember_z4061QtHfKO7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Notes CS I ST, LLC (“Signatory”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesCsiStLlcMember_zv2S9mBd9qP" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesCsiStLlcMember_zNGjs3oRRDid" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Venu LuxeSuite Holdings, LLC (“Luxe”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuLuxesuitesLLCMember_zGuNX0xPtc9b" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuLuxesuitesLLCMember_z6uKv6PndsA" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Venu 280, LLC (“Artist 280”)*</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuTwoHundredEightyLLCMember_fKg_____zBdTO8gEjBO2" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuTwoHundredEightyLLCMember_fKg_____zhykoa3xelQ2" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Venu Presents LLC (“Venu Presents”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuPresentsLLCMember_z1uiZnnnVRva" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuPresentsLLCMember_zqExosOoLDRc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset at Houston in Webster, LLC (“Sunset Houston”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtHoustonInWebsterLLCMember_fKg_____zBCHaHN9Luck" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">98</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtHoustonInWebsterLLCMember_fKg_____z4iutwezGi9j" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Hall at Centennial LLC (“Centennial”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HallAtCentennialLLCMember_fKg_____zNJIj6s7rd2f" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">93</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HallAtCentennialLLCMember_fKg_____zVTt2u70reke" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> <td id="xdx_F0A_zKWUC6fXubBh" style="font: 10pt Times New Roman, Times, Serif; width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1A_zIV6dBPEsye" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These entities are considered majority-owned subsidiaries or variable interest entities and consolidated into the Venu Holding Corporation consolidated financials</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p id="xdx_8AA_zHu4xHCy7bRc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bourbon Brothers Holdings Company, LLC (“BBH”) is a holding Company designed to own and manage each of the Bourbon Brothers-related operating entities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bourbon Brothers Smokehouse and Tavern CS, LLC (“BBST”) is the sole owner and operator of its restaurant operations. The restaurant building is leased from Hospitality Income &amp; Asset, LLC (“HIA”), a majority owned subsidiary, whom the Company has a lease with and then purchased a majority of HIA in the year ended December 31, 2022 (refer to Note 7 – Related Party Transactions footnote for further details of this acquisition).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bourbon Brothers Presents, LLC d/b/a Phil Long Music Hall (“BBP”) specializes in producing music concerts as well as other types of live entertainment, including comedy acts and speaking engagements. Additionally, BBP utilizes the event venue (“event venue”) to host corporate events and weddings, among other utilizations of the facility. BBP is the sole owner and operator of the Phil Long Music Hall event venue facility. The Phil Long Music Hall event venue building is leased from HIA, a related party (refer to Note 5 – Leases footnote for further details). The Company owns <span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersPresentsLlcMember_zkq2oYVuKlq3" title="Majority owned rate">89</span>% of this majority-owned subsidiary and <span id="xdx_90B_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20240101__20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersPresentsLlcMember_zy45ezKJ8N3b" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bourbon Brothers Smokehouse and Tavern GA, LLC (“BBSTGA”) is the sole owner and operator of its restaurant operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bourbon Brothers Presents GA, LLC (“BBPGA”) is the Company’s concert and event venue in Gainesville, Georgia, specializing in producing music concerts as well as other types of live entertainment, including comedy acts and speaking engagements. Additionally, this concert and event venue facility is utilized to host corporate events and weddings. BBPGA is the sole owner and operator of the facility operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bourbon Brothers Licensing, LLC (“BBL”) BBL is designed to exclusively serve as the entity which licenses the Bourbon Brothers brand.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes Holding Company, LLC (“NH”) is a pass-through entity established to hold the Company’s equity interests in various subsidiaries.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13141 Notes, LLC (“Notes”) is the restaurant operating entity, managing the Notes Eatery (formally known as Buttermilk Eatery, LLC which changed its name on August 8, 2022), located in Colorado Springs, Colorado, which opened in June 2020 and closed on July 18, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13141 BP, LLC (“13141 BP”) was acquired by the Company on June 26, 2024. The Company purchased <span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OneThreeOneFourOneNotesLlcMember_zFBkMFhZtiu" title="Majority owned rate">100</span>% of the membership units from 13141 BP’s members. 13141 BP owned the land and buildings from which Notes used under an existing lease arrangement. The Company owned <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OneThreeOneFourOneNotesLlcMember_znrKcNtK5y77" title="Majority owned rate">100</span>% of this subsidiary and <span id="xdx_901_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OneThreeOneFourOneNotesLlcMember_zyEuam6NSkui" title="Voting interest rate">100</span>% of its voting control until 13141 BP’s sale of the land and building to a 3^rd party on July 18, 2025, at which time the Company determined the disposed component does not meet discontinued-operations criteria, its financial impacts are reported within the normal results of continuing operations (and not segregated below income from continuing ops).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunset Amphitheater, LLC (“Sunset”) is a hospitality-focused music venue located in Colorado Springs. This venue opened in August 2024 d/b/a Ford Amphitheater. The Company owns <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAmphitheaterLlcMember_zgxGqDGYHfG5" title="Majority owned rate">14</span>% of this variable interest entity and <span id="xdx_902_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAmphitheaterLlcMember_zNOa9atBfG4i" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hospitality Income &amp; Asset, LLC (“HIA”) was acquired by the Company on April 1, 2022 and owns the land and buildings for which both BBST and BBP currently use from existing lease arrangements. The Company owns <span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HospitalityIncomeAndAssetLlcMember_zSQS6FZwPB4g" title="Majority owned rate">99</span>% of this majority-owned subsidiary and <span id="xdx_904_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HospitalityIncomeAndAssetLlcMember_zgH1hsEZiXo9" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GA HIA, LLC (“GAHIA”) owns the land and buildings for which both BBSTGA and BBPGA currently use from existing lease arrangements. GAHIA is the Colorado-based entity that holds the Company’s Georgia based operations. The Company owns <span id="xdx_90B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--GaHiaLlcMember_zUTOQ7rPTJEd" title="Majority owned rate">15</span>% of this variable interest entity and <span id="xdx_900_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--GaHiaLlcMember_zgFDTZXtec92" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes Live Real Estate, LLC (“NotesRE”) holds title to certain Company real estate assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Roth’s Sea &amp; Steak LLC (f/k/a (Roth’s Seafood and Chophouse, LLC) (“Roth Sea”) is a restaurant adjacent to Ford Amphitheater which opened to the public on November 8, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunset Operations, LLC (“Sunset Ops”) is the operating entity that manages the operations of Ford Amphitheater which opened August 9, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunset Hospitality Collection, LLC (“SHC”) is the entity that owns the venue that includes Roth’s Sea and NHC which opened to the public in early November 2025. The Company owns <span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetHospitalityCollectionLlcMember_zmxBZw1f3Eni" title="Majority owned rate">54</span>% of this majority-owned subsidiary and <span id="xdx_900_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetHospitalityCollectionLlcMember_zb68CzCij6a9" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes Hospitality Collection, LLC (“NHC”) is the operating entity that manages the venue rentals and 1,200 additional seating which can be utilized to view the concerts and shows at Ford Amphitheater and opened to the public in early November 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunset at Broken Arrow, LLC (“Sunset BA”) is a hospitality-focused music venue located in Broken Arrow, OK and officially broke ground in October 2025. The Company owns<span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtBrokenArrowLlcMember_zD2FyArIVT11" title="Majority owned rate"> 54</span>% of this majority-owned subsidiary and <span id="xdx_90C_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtBrokenArrowLlcMember_zlGQawCAApVe" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunset at Mustang Creek, LLC (“Sunset MC”) was planned to be a hospitality-focused music venue located in Mustang Creek, OK. The Company does not plan to move forward with operations in this municipality.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunset at McKinney, LLC (“Sunset MC”) is a hospitality-focused music venue located in McKinney, TX and officially broke ground in June 2025. The Company owns <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtMcKinneyLlcMember_z0Xt9Y9YZXa" title="Majority owned rate">68</span>% of this majority-owned subsidiary and <span id="xdx_904_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtMcKinneyLlcMember_zpWGxBGx4Uul" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunset at El Paso, LLC (“Sunset EP”) is a hospitality-focused music venue located in El Paso, TX and officially broke ground in November 2025. The Company owns <span id="xdx_909_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtElPasoLlcMember_zah1paEGp5Be" title="Majority owned rate">98</span>% of this majority-owned subsidiary and <span id="xdx_905_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtElPasoLlcMember_zMauOBUC0p16" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunset Operations at El Paso, LLC (“EPOps”) is the operating entity that manages the Sunset Amphitheater in El Paso, TX operations and is slated to open when construction is completed which is anticipated in Fall 2027.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Polaris Pointe Parking, LLC (“PPP”) owned the land for parking at Sunset Ops. On October 27, 2025, this property was conveyed to a related-party as part of a purchase and sale agreement (refer to Note 10– Equity footnote for further details).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Venu VIP Rides, LLC (“Rides”) is an entity that provides transportation services to Venu’s employees and shareholders. The Company owns <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuVipRidesLlcMember_zuq6P5hJBxWj" title="Majority owned rate">50</span>% of the subsidiary and <span id="xdx_903_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuVipRidesLlcMember_zNShhbiSeq1k" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes CS I, DST (“DST”) is an entity that owns the land that Sunset Amphitheater, LLC has its improvements on for the Ford Amphitheater. On August 22, 2024 Notes RE conveyed the <span id="xdx_908_eus-gaap--AreaOfRealEstateProperty_iI_uAcre_c20240822_zzxKbcQdtVu">9.41</span> acres of real property upon which the Ford Amphitheater is located to Notes CS I Holdings, LLC, a wholly owned subsidiary of Venu (“<i>Holdings LLC</i>”), and Holdings LLC conveyed that property to Notes CS I, DST, a Delaware Statutory Trust (the “<i>Trust</i>”) in exchange for a <span id="xdx_904_ecustom--BeneficialInterestRate_pid_dp_uPure_c20240822__20240822_zoW7OeMvJpm8" title="Beneficial interest rate">100</span>% of the beneficial interests in the Trust. The signatory trustee for the Trust is Notes CS I ST, LLC, a wholly owned subsidiary of Venu. Beneficial owners have no voting rights with respect to the affairs of the Trust and do not have legal title to any portion of the property held by the Trust. Instead, the signatory trustee has the sole power and authority to manage the activities and affairs of the Trust, including the power and authority to sell the property and the Trust holds legal title to the property. Under the documents governing the Trust, beneficial interest holders are entitled to distributions on a pro rata basis of the base rent payments made to the Trust from the ground tenant. Holdings, LLC has sold beneficial interests to third parties but in no event is it expected that Holdings LLC would cease to hold a beneficial interest in the Trust.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Venu LuxeSuite Holdings, LLC (“Luxe”) is an entity that provides real estate investment opportunities for NNN investors into the Company’s Luxe FireSuites under a triple net lease structure. The Company owns <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuLuxeSuiteHoldingsLLCMember_zxmEx6agmFUc">100</span>% of this subsidiary and <span id="xdx_908_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuLuxeSuiteHoldingsLLCMember_zpveWPOSOlY9" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Venu 280, LLC d/b/a Artist 280 (“Artist 280”) is an entity created, in part, to <span style="background-color: white">provide private air and travel services to artists who perform at certain Company venues</span>. The Company owns <span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuTwoHundredEightyLLCMember_zVuWi6xmZti">100</span>% of this majority-owned subsidiary and <span id="xdx_902_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuTwoHundredEightyLLCMember_zHaIogAhVqx4" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Venue Presents, LLC (“Venu Presents”) is the operator that manages the Sunset Amphitheater in McKinney, TX operations and premises.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sunset at Houston in Webster, LLC (“Sunset Houston”) is a hospitality-focused music venue located in Houston, TX and is slated to open when construction is completed which is anticipated in 2027. The Company owns <span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtHoustonInWebsterLLCMember_zAdxrsVrry32">98</span>% of this majority-owned subsidiary and <span id="xdx_90B_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtHoustonInWebsterLLCMember_zpx5EzkY5mX5" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hall at Centennial, LLC (“Hall at Centennial”) owns the land and buildings for which both BBSTCentennial and BBPCentennial will use from existing lease arrangements. Hall at Centennial is the Colorado-based entity that holds the Company’s Centennial, CO-based operations. The Company owns <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HallAtCentennialLLCMember_zXG4ldkv7pSk">93</span>% of this variable interest entity and <span id="xdx_90E_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HallAtCentennialLLCMember_zuWEcn2PiaNd" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_894_ecustom--ScheduleOfCompanysSubsidiariesAndInterestsTableTextBlock_zKb34Bq1U519" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s subsidiaries and its interests in each are presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_8B6_zzKX4S4opVG8" style="display: none">SCHEDULE OF COMPANY’S SUBSIDIARIES AND ITS INTERESTS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">December 31,</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">2025</p></td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">December 31,</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">2024</p></td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">Name of Entity</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Place of Incorporation</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Interest</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Interest</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 42%; text-align: left">Bourbon Brothers Holdings LLC (“BBH”)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersHoldingsLLCMember_zkLc5xlBMmSb" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersHoldingsLLCMember_z9YpltFivlv" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Bourbon Brothers Smokehouse and Tavern CS, LLC (“BBST”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersSmokehouseAndTavernCSLLCMember_z1QbPVTZLnGi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersSmokehouseAndTavernCSLLCMember_z5QoiEpJz0xi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Bourbon Brothers Presents, LLC d/b/a Phil Long Music Hall (“BBP”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersPresentsLlcMember_fKg_____zuyxeyIyRwNk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">89</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersPresentsLlcMember_fKg_____zvXt188SeFxc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">89</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Bourbon Brothers Smokehouse and Tavern GA, LLC (“BBSTGA”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Georgia</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersSmokehouseAndTavernGaLlcMember_zoiNT46Jkvqh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersSmokehouseAndTavernGaLlcMember_z7aW0UX4CFll" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Bourbon Brothers Presents GA, LLC (“BBPGA”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Georgia</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersPresentsGaLlcMember_ziYQB48CLaX8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersPresentsGaLlcMember_zyHm3AOG0mb9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Notes Holding Company, LLC (“NH”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesHoldingCompanyLlcMember_z0bp18inmTvc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesHoldingCompanyLlcMember_zHgIsCDReitk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">13141 Notes, LLC d/b/a Notes (“Notes”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OneThreeOneFourOneNotesLlcMember_z8PtA4hGWB4b" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OneThreeOneFourOneNotesLlcMember_zyXdj4d9oCNk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset Amphitheater, LLC (“Sunset”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAmphitheaterLlcMember_fKg_____z6on1cvyPeJb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">14</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAmphitheaterLlcMember_fKg_____z66p4YGm6jg" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">10</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Hospitality Income &amp; Asset, LLC (“HIA”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HospitalityIncomeAndAssetLlcMember_fKg_____ztx8mvOsIaqh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">99</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HospitalityIncomeAndAssetLlcMember_fKg_____zam0aT3mvoO9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">99</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Bourbon Brothers Licensing, LLC (“BBL”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersLicensingLlcMember_zgC6Ab0moygi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BourbonBrothersLicensingLlcMember_zUkvff6yMeS2" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">GA HIA, LLC (“GAHIA”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--GaHiaLlcMember_fKg_____zl7KL2hzVMGi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">15</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--GaHiaLlcMember_fKg_____zBKd90zOd6V7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">16</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Notes Live Real Estate, LLC  (“NotesRE”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesLiveRealEstateLlcMember_zhRpGLRJg6Q6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesLiveRealEstateLlcMember_zXyyokd1q2Lk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Roth’s Sea &amp; Steak, LLC (“Roth Sea”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--RothsSeaAndSteakLLCMember_zSj9EeDFDU9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--RothsSeaAndSteakLLCMember_zASM953jaA1h" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset Operations, LLC (“SunsetOps”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetOperationsLlcMember_zLdPYq5uSU7h" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetOperationsLlcMember_zMkCwQeoyPG8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset Hospitality Collection, LLC (“SHC”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetHospitalityCollectionLlcMember_fKg_____zLs4qM2qC7Jg" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">54</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetHospitalityCollectionLlcMember_fKg_____zfppXJA19Yk4" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">47</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Notes Hospitality Collection, LLC (“NHC”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesHospitalityCollectionLlcMember_zY05eChjpHQ" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesHospitalityCollectionLlcMember_zCFgyG62PY75" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset at Broken Arrow, LLC (“BA”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtBrokenArrowLlcMember_fKg_____zGT8NS1eAj94" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">54</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtBrokenArrowLlcMember_fKg_____zjEPYxkt5p7c" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">74</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset at Mustang Creek, LLC (“MC”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtMustangCreekLlcMember_zvE8uRE1crbh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtMustangCreekLlcMember_z4Bn0xrus5li" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">89</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset at McKinney, LLC (“MK”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtMcKinneyLlcMember_fKg_____zSf8oiQcChI8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">68</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtMcKinneyLlcMember_fKg_____ziQY9M5oVQAk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">80</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset Operations at McKinney, LLC (“McKinneyOps”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetOperationsAtMcKinneyLlcMember_ztioOGAS9RI9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetOperationsAtMcKinneyLlcMember_zHp4OUcEvxhh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset at El Paso, LLC (“EP”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtElPasoLlcMember_fKg_____zeL9zvy9FHMk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">98</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtElPasoLlcMember_fKg_____zVcJxm06rg4d" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset Operations at El Paso, LLC (“EPOps”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetOperationsAtEiPasoLlcMember_z5fEx9wf7Aj3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetOperationsAtEiPasoLlcMember_zfbuktQ4fOkf" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Polaris Pointe Parking, LLC (“PPP”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PolarisPointeParkingLlcMember_zQ6eFzvMnanj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PolarisPointeParkingLlcMember_zVVpVIavOcFd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Venu Income, LLC (“Income”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuIncomeLLCMember_fKg_____zfugctWzLfLl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">94</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuIncomeLLCMember_fKg_____zdVp45myQS8a" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Venu VIP Rides, LLC (“Rides”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuVipRidesLlcMember_fKg_____zjmxiDOopzMf" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">50</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuVipRidesLlcMember_fKg_____zMrl2CSrLPd8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">50</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Notes CS I, DST (“Trust”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Delaware</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesCsiDstLlcMember_fKg_____zrcXltbMnpgj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">86</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesCsiDstLlcMember_fKg_____zffEe6Gql6bl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Notes CS I Holdings, LLC (“Holdings LLC”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesCsiHoldingsLlcMember_zy6a865O32I1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesCsiHoldingsLlcMember_z4061QtHfKO7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Notes CS I ST, LLC (“Signatory”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesCsiStLlcMember_zv2S9mBd9qP" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NotesCsiStLlcMember_zNGjs3oRRDid" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Venu LuxeSuite Holdings, LLC (“Luxe”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuLuxesuitesLLCMember_zGuNX0xPtc9b" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuLuxesuitesLLCMember_z6uKv6PndsA" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Venu 280, LLC (“Artist 280”)*</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuTwoHundredEightyLLCMember_fKg_____zBdTO8gEjBO2" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuTwoHundredEightyLLCMember_fKg_____zhykoa3xelQ2" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Venu Presents LLC (“Venu Presents”)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuPresentsLLCMember_z1uiZnnnVRva" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VenuPresentsLLCMember_zqExosOoLDRc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Sunset at Houston in Webster, LLC (“Sunset Houston”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtHoustonInWebsterLLCMember_fKg_____zBCHaHN9Luck" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">98</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SunsetAtHoustonInWebsterLLCMember_fKg_____z4iutwezGi9j" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Hall at Centennial LLC (“Centennial”) *</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Colorado</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HallAtCentennialLLCMember_fKg_____zNJIj6s7rd2f" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">93</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HallAtCentennialLLCMember_fKg_____zVTt2u70reke" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest rate">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> <td id="xdx_F0A_zKWUC6fXubBh" style="font: 10pt Times New Roman, Times, Serif; width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1A_zIV6dBPEsye" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These entities are considered majority-owned subsidiaries or variable interest entities and consolidated into the Venu Holding Corporation consolidated financials</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> 1 1 1 1 0.89 0.89 1 1 1 1 1 1 1 1 0.14 0.10 0.99 0.99 1 1 0.15 0.16 1 1 1 1 1 1 0.54 0.47 1 1 0.54 0.74 1 0.89 0.68 0.80 1 1 0.98 1 1 1 1 1 0.94 0 0.50 0.50 0.86 1 1 1 1 1 1 0 1 0 1 0 0.98 0 0.93 0 0.89 1 1 1 1 0.14 1 0.99 1 0.15 1 0.54 1 0.54 1 0.68 1 0.98 1 0.50 1 9.41 1 1 1 1 1 0.98 1 0.93 1 <p id="xdx_803_eus-gaap--SignificantAccountingPoliciesTextBlock_z3Ig5prcno88" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – <span id="xdx_82B_zUhjcmerSYc3">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84F_ecustom--BasisOfPresentationAndUseOfEstimatesPolicyTextBlock_zCLKF7PqQQm9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_862_z2FAf8AX9Yhf">Basis of Presentation and Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_849_ecustom--RisksAndUncertaintiesPolicyTextBlock_zIzFTdoDcBgc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zrXc2xG8euLj">Risks and Uncertainties</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and judgements that affect the application of accounting policies and the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are continuously evaluated and are based on management’s experience and other factors, including expectations regarding future events that are believed to be reasonable under the circumstances. Actual results may differ significantly from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant estimates made by management include, but are not limited to: economic lives of leased assets; impairment assessment of long-lived assets; depreciable lives of property, plant and equipment; useful lives of intangible assets; accruals for contingencies including tax contingencies; valuation allowances for deferred income tax assets; estimates of fair value of identifiable assets and liabilities acquired in business combinations; initial measurement (and any subsequent remeasurement) of operating right-of-use assets and lease liabilities, including the discount rate used in the present value calculation of future payments, and estimates of fair value used in the private stock valuations used for equity based compensation of warrants and stock options.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_ecustom--LiquidityAndCapitalResourcesPolicyTextBlock_znv4ZO6ePxh4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zRWpKcju5mpe">Liquidity and Capital Resources</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has devoted substantially all of its efforts to developing its business plan, raising capital, opening, planning and operating its restaurants and event venues in Colorado, Georgia, Oklahoma and Texas. The accompanying consolidated financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and liabilities and commitments in the normal course of business.  </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements do not reflect any adjustments that might result if the Company is unable to continue as a going concern. As of the issuance of these financials, management has concluded that substantial doubt about the Company’s ability to continue as a going concern for the next twelve months has been alleviated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company had an accumulated deficit of $<span id="xdx_907_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_di_c20251231_zqGZwyARUogk" title="Accumulated deficit">91,454,930</span> and $<span id="xdx_909_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_di_c20241231_zE7GYHXXKGl" title="Accumulated deficit">47,361,208</span> as of December 31, 2025 and 2024, respectively, and incurred net losses of $<span id="xdx_90A_eus-gaap--ProfitLoss_di_c20250101__20251231_zNRLW8TiEeNi" title="Net losses">50,781,223</span> and $<span id="xdx_901_eus-gaap--ProfitLoss_di_c20240101__20241231_zwVi8YoC6f1i" title="Net losses">32,948,974</span> for the years ended December 31, 2025 and 2024, respectively. These conditions raised substantial doubt about the Company’s ability to continue as a going concern; however, based on management’s plan to add additional venue locations and continue its business operations, Venu believes that such substantial doubt has been alleviated. The Company believes that cash on hand, anticipated improved profitability in 2026 from operating venues and restaurants in Colorado Springs, Colorado and Gainesville, Georgia, the full season of operations of Ford Amphitheater in 2026, including Roth’s Sea &amp; Steak and Brohan’s, opening of Sunset at Broken Arrow in fall 2026, and additional capital raising and debt financing in 2025 and potentially in 2026, including the issuance of Series B Preferred Shares in January 2026 and public offering completed in March 2026, will altogether allow the Company to continue its business operations for at least 12 months from the date of this Annual Report. Nonetheless, the Company’s continued implementation of its business plan to add additional locations is dependent on its future engagement in strategic locations, real estate transactions, capital raising, and debt financing. There is no guarantee that the Company will be able to execute on these plans as laid out above. If the Company is unable to enter into strategic transactions, the Company may be required to delay its business plan implementation for future expansion, which would have a material adverse impact on the Company’s growth plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_840_eus-gaap--ConsolidationPolicyTextBlock_zyf2lyUmDuv1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zKo3nWneiivf">Principles of Consolidation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements include the accounts of the Company and its wholly owned, majority-owned subsidiaries and variable interest entities. For those entities that aren’t wholly owned by Company, the Company assesses the voting and management control to confirm the Company is the primary beneficiary of the majority-owned subsidiaries and variable interest entities. All intercompany accounts and transactions have been eliminated upon consolidation. See “Organization” and “Non-controlling Interest” for further discussions of the entities that are majority-owned subsidiaries and variable interest entities. Investments for which the Company exercises significant influence but does not have control are accounted for under the equity method. See “Investments in related parties” for further discussion.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>  </b> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_846_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zAC5syZ6Wu35" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_zKxyCi0mKQG2">Fair Value Measurements</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair values have been determined for measurement and/or disclosure purposes based on the following methods. The Company characterizes inputs used in determining fair value using a hierarchy that prioritizes inputs depending on the degree to which they are observable. The levels of the fair value hierarchy are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 – fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 – fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 – fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying values of cash and cash equivalents, inventories, prepaid expenses and other current assets, payables and accrued liabilities approximate their fair values because of the short-term nature of these financial instruments. Balances due to and due from related parties do not have specific repayment dates and are payable on demand, thus are also considered current and short-term in nature, hence carrying value approximates fair value and are included in current assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_845_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zyOCmS1oJJTe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zVUCqQosNB9l">Cash and Cash Equivalents</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers cash and cash equivalents to include all highly liquid investments with an original maturity of three months or less. Our cash and cash equivalents include bank accounts as well as interest-bearing accounts consisting primarily of bank deposits and money market accounts managed by third-party financial institutions. As of December 31, 2025, the Company had $<span id="xdx_90D_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20251231_zJ7x14kutEQ9" title="Cash equivalents">23,095,342</span> of cash and cash equivalents in the form of money market accounts that earned interest income of $<span id="xdx_906_eus-gaap--InterestIncomeExpenseNet_c20250101__20251231_zNJwglpnx089" title="Interest income">198,576</span> for the year ended December 31, 2025. As of December 31, 2024, the Company had $<span id="xdx_90B_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20241231_zJG94TqvoRfd" title="Cash equivalents">15,241,184</span> of cash and cash equivalents in the form of money market accounts that earned interest income of $<span id="xdx_90B_eus-gaap--InterestIncomeExpenseNet_c20240101__20241231_zRgjSjHX3f82" title="Interest income">705,729</span> for the year ended December 31, 2024. Cash and cash equivalents may exceed federally insured limits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_840_eus-gaap--InventoryPolicyTextBlock_zO6sriS1Y5Jl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_z4IB44x3OsV9">Inventories</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories, consisting principally of food, beverages and supplies, are stated at the lower of cost (determined by the first-in, first-out method) or net realizable value. The Company reviews inventory on a weekly basis and determines if slow-moving or obsolete inventory exists. No allowance is deemed necessary as of December 31, 2025 and 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84E_eus-gaap--InvestmentPolicyTextBlock_zQ4aWShvj0Si" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zjs3JWARJ13e">Investments in related parties</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company currently accounts for certain investments using a practical expedient to measure these investments that do not have a readily determinable fair value in accordance with Accounting Standards Codification (“ASC”) 321, <i>Investments - Equity Securities</i>; ASC 325, <i>Investments – Other</i>; ASC 810, <i>Consolidation;</i> and ASC 820, <i>Fair Value Measurement</i>. The investments are initially recognized at cost. Any income or loss from these investments are recognized on the Consolidated Statements of Operations, net of operating expenses. The carrying value of the Company’s investments are assessed for indicators or impairment at each balance sheet date. Under this method of accounting, the investment is derecognized once the Company’s interest in the investment is sold or impaired. Upon sale, any proportionate gain or loss is recognized in the Consolidated Statements of Operations as other income. <span style="background-color: white">See Note 7 – Investments in Related Parties and Note 8 – Related Party Transactions for further discussion.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_846_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zFMjOjtkiAch" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_zufsoAv9ija2">Property and Equipment</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are recorded at historical cost net of accumulated depreciation and amortization, write-downs and impairment losses. Property and equipment are recorded as construction in progress until they are placed in service and are depreciated or amortized once placed in service. Depreciation and amortization are calculated on a straight-line basis over the following periods:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_ecustom--ScheduleOfEstimatedUsefulLifeOfPropertyAndEquipmentTableTextBlock_zhCmGjQGBFCl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The estimated useful lives are:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zczlK6XONzva" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left">Leasehold improvements</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: right"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20251231_zRImxg0JSZY" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23UsefulLifeTermOfLeaseMember"><span style="-sec-ix-hidden: xdx2ixbrl1369">Shorter of lease term or useful life</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Furniture, fixtures and equipment</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zKNCYveAlo29" title="Estimaed useful life">2</span>-<span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zIDhcGJx1Yp6" title="Estimaed useful life">10</span> years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Buildings</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">Up to <span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingMember__srt--RangeAxis__srt--MaximumMember_zWCzgUVPJOk4" title="Estimaed useful lives">40</span> years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Aircraft</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AircraftMember_z9OEEKFoaaQ4" title="Estimaed useful lives">20</span> years</td></tr> </table> <p id="xdx_8AD_zSd1F9JSJdOa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment costs directly associated with the acquisition, development and construction of operating venues and restaurants are capitalized. Expenditures for major improvements and betterments are capitalized while expenditures for maintenance and repairs are expensed as incurred. Upon retirement or disposal of assets, the accounts are relieved of cost and accumulated depreciation and amortization and the related gain or loss is reflected in earnings.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capitalization of Interest Costs of Real Estate Projects</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company acquires real estate for the construction and development of future venues. Interest costs incurred over the period in which the construction and development of the venue is substantially complete are recorded as part of the historical cost of the real estate asset and depreciated under the same method as property and equipment. The Company capitalized $<span id="xdx_906_eus-gaap--InterestCostsCapitalized_c20250101__20251231_zsoAsRmcF8nb" title="Interest costs capitalized">212,247</span> and $<span id="xdx_90E_eus-gaap--InterestCostsCapitalized_c20240101__20241231_zDbDbRCiJhU7" title="Interest costs capitalized">0</span> of interest costs during the years ended December 31, 2025 and 2024, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--GoodwillAndIntangibleAssetsGoodwillPolicy_zEqb54SkswOg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zxkmMy4NTvn6">Intangible Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets with a finite life are recorded at cost and are amortized on a straight-line basis over estimated useful lives. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. The Company currently has naming rights that are amortized on a straight-line basis over <span id="xdx_909_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dc_c20251231_zPX3tVDmlBu9" title="Naming rights, estimaed useful life">six years</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company reviews the carrying values of its intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group might not be recoverable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_840_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zuEv2MsPsyLa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zXOcWT7pYMdd">Impairment Assessment of Long-Lived Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An evaluation for impairment is performed at the lowest level of identifiable cash flows. An impairment loss is recognized in an amount equal to the excess of the carrying value over the estimated fair value. <span id="xdx_90A_eus-gaap--ImpairmentOfLongLivedAssetsToBeDisposedOf_do_c20250101__20251231_zgvAULDcEAJf"><span id="xdx_901_eus-gaap--ImpairmentOfLongLivedAssetsToBeDisposedOf_do_c20240101__20241231_zELXpfWjjufl">No</span></span> impairment loss was recognized during the years ended December 31, 2025 and 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84E_ecustom--ProvisionForUncollectibleAccountsPolicyTextBlock_zCJto5vOflT3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zUeo0hGxlZNb">Provision for Uncollectible Accounts</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See “Recently Issued and Adopted Accounting Pronouncements” herein for additional information on the adoption of ASU 2025-05 and the practical expedient related to credit losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s customers include attendees of concerts, shows and events (collectively “event centers”), restaurant diners and sponsors. The collection of payments for event centers and restaurants is handled at point of sale. Sponsors sign a contract that commits them to sponsorship payments over the contract term. Based on historical collection experience and other factors, the Company has determined that a provision for uncollectible accounts is not necessary. Circumstances that could affect this estimate include, but are not limited to, customer credit issues and general economic conditions. The Company writes off customer accounts when they are deemed to be uncollectible, which have historically been infrequent. The Company has elected the practical expedient to assume that current conditions as of the balance sheet date will remain unchanged for the remaining life of the receivables when estimating expected credit losses. For all periods presented, there were no uncollectible accounts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_849_eus-gaap--RevenueRecognitionPolicyTextBlock_zJ4fdZDRHxgk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zgSAZ71E5Soc">Revenue Recognition</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenue in accordance with Financial Accounting Standards Board (“FASB”) ASC 606, <i>Revenue from Contracts with Customers</i>. This ASC requires an entity to allocate the transaction price received from customers to each separate and distinct performance obligation and recognize revenue as these performance obligations are satisfied. The Company recognizes revenue from restaurant sales when food and beverage products are transferred to the customer. Revenue from a venue rental, concert or show is recognized when the event, concert or show occurs. Amounts collected in advance of the event are recorded as deferred revenue until the event occurs. Amounts collected from sponsorship agreements, which are not related to a single event, are classified as deferred revenue and recognized over the term of the agreements as the benefits are provided to the sponsors. As of</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2025 and 2024, deferred revenue totaled $<span id="xdx_909_eus-gaap--DeferredRevenueCurrent_iI_c20251231_zYa6XZ5Amcxk" title="Deferred revenue">1,542,564</span> and $<span id="xdx_908_eus-gaap--DeferredRevenueCurrent_iI_c20241231_zZGNswRNMpbb" title="Deferred revenue">1,528,159</span>, respectively. There are no refunds or allowance for refunds in accordance with the Company’s reservation policies, which do not allow for, except in limited circumstances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for the licensing of its hospitality fire pit suites of NHC and its owners club memberships for Sunset at Broken Arrow and Sunset at McKinney as long-term licensing liability. The deposits range from $<span id="xdx_90C_eus-gaap--Deposits_iI_c20251231__srt--RangeAxis__srt--MinimumMember_zz9Up3rVDmT4" title="Deposits">50,000</span> to $<span id="xdx_905_eus-gaap--Deposits_iI_c20251231__srt--RangeAxis__srt--MaximumMember_zD4hSBljImJf" title="Deposits">100,000</span> and fully prepaid licenses of $<span id="xdx_90E_ecustom--PrepaidLicenses_iI_c20251231__srt--RangeAxis__srt--MinimumMember_z1IdXZN3ofpk" title="Prepaid licenses">100,000</span> to $<span id="xdx_90D_ecustom--PrepaidLicenses_iI_c20251231__srt--RangeAxis__srt--MaximumMember_z701UHidzhM1" title="Prepaid licenses">200,000</span> are recognized in this account. The amortization of these liabilities started to be recognized in June 2025 when NHC fully opened its suites in Colorado Springs, Colorado. For the year ended December 31, 2025, the Company recognized rental income totaling $<span id="xdx_90B_eus-gaap--RentalIncomeNonoperating_c20250101__20251231_zsZBUxCAIJad" title="Rental income">130,278</span> from prepaid licenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company contracted with a subsidiary of the Anschutz Entertainment Group (“<i>AEG</i>”), AEG Presents-Rocky Mountains, LLC, a major music and entertainment events presenter, to operate Ford Amphitheater in Colorado Springs, Colorado, which opened in August 2024. Within the Company’s Amphitheater Operations, its pre-sells naming rights to its amphitheater by partnering with industry-leading brands under naming-rights agreements. The Company generates net profits that are split with AEG through: (i) ticket sales, fees and rebates on tickets for concerts and events held at Ford Amphitheater; (ii) parking fees; (iii) venue rentals, which may occur for a variety of corporate and personal events; (iv) food and beverage sold at the shows and events; and (v) sponsorship sales, which allow brands to advertise at the Company’s venue by showcasing their names and logos on a variety of sponsorship inventory curated for the venue and at each event the Company promotes and hosts, all of which are offset by operating expenses, artist expenses, supplies, security, utilities, insurance, overhead, etc. within the Company’s net amphitheater revenue recognition from AEG. As of December 31, 2025 and 2024, the Company had a net receivable of $<span id="xdx_906_eus-gaap--AccountsReceivableNet_iI_c20251231_zhh8tNh29s29" title="Accounts receivable net">225,822</span> and $<span id="xdx_90D_eus-gaap--AccountsReceivableNet_iI_c20241231_zqfQZ43LqOx9" title="Accounts receivable net">193,766</span>, respectively, with no allowance for credit losses as the Company believes the balance is fully collectible.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 1, 2025, the Company entered into a Multi-Event Incentive Agreement with Live Nation Worldwide, Inc. (“Live Nation”) in connection with the amphitheater being developed in Broken Arrow, Oklahoma (“Sunset at Broken Arrow”). The Agreement provides incentives to Live Nation to book and promote live music concerts, comedy events and other mutually approved entertainment events at the Sunset at Broken Arrow. The incentive payment is based on the number of tickets sold at each event during each contract year, which is based on a tiered chart with varying incentive payments per ticket sold depending on the range of total tickets sold per contract year. A bonus payment will be paid to Live Nation for one dollar for each ticket sold at each event where the gross revenue of ticket sales for an event equal to or is greater than $<span id="xdx_900_eus-gaap--Revenues_c20250101__20251231__srt--ProductOrServiceAxis__custom--TicketSalesMember_z1jQ7850SAS" title="Revenues">650,000</span>. The incentive and bonus payments payable to Live Nation will begin when the first event is held at the Sunset at Broken Arrow, which is anticipated to open in Fall 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 10, 2025, the Company entered into an Operator Agreement with Live Nation Worldwide, Inc. (“Live Nation”) to lease the premises on which the amphitheater is being developed in McKinney, Texas (“Sunset at McKinney). The Operator Agreement provides for a revenue-sharing arrangement whereby Live Nation will pay the Company a percentage of the net profits generated from Live Nation’s events at the Sunset McKinney, after deducting applicable event-related expenses and other costs and expenses chargeable to the parties’ co-promotion of events. The Agreement also names Live Nation as the exclusive third-party booking agency for all events held at the Sunset at McKinney. The Agreement may be terminated without penalty if certain conditions are not satisfied or may otherwise be terminated upon an uncured event of default.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84B_eus-gaap--LesseeLeasesPolicyTextBlock_zK8TZcz7ZM92" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zOEUkZBJMuab">Leases</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company accounts for its leases in accordance with ASC 842, <i>Leases</i>. Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded in the Consolidated Balance Sheets as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term, including any renewal options that are likely to be exercised, at the rate implicit in the lease. Lease liabilities are increased by the principal amount due and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term. In calculating the right-of-use asset and lease liability, the Company elects to combine lease and non-lease components as permitted under ASC 842. The Company excludes short-term leases having initial terms of 12 months or less as an accounting policy election and expenses payments on these short-term leases as they are made.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_ecustom--LongTermLicensingLiabilityPolicyTextBlock_zihpIcSy1DSk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_z4lb7lBHdn8b">Long-term Licensing Liability</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for the licensing of its hospitality fire pit suites of NHC and its owners club memberships for Sunset at Broken Arrow and Sunset at McKinney as long-term licensing liability. The deposits range from $<span id="xdx_90C_eus-gaap--Deposits_iI_c20251231__srt--RangeAxis__srt--MinimumMember_zTXUoWuPa0Of" title="Deposits">50,000</span> to $<span id="xdx_904_eus-gaap--Deposits_iI_c20251231__srt--RangeAxis__srt--MaximumMember_zWN7483oWIlh" title="Deposits">100,000</span> and fully prepaid licenses of $<span id="xdx_90F_ecustom--PrepaidLicenses_iI_c20251231__srt--RangeAxis__srt--MinimumMember_zmRcIlPwqxsk" title="Prepaid licenses">100,000</span> to $<span id="xdx_906_ecustom--PrepaidLicenses_iI_c20251231__srt--RangeAxis__srt--MaximumMember_zsc6XaHBWDHh" title="Prepaid licenses">200,000</span> are recognized in this account. The amortization of these liabilities started to be recognized in June 2025 when NHC fully opened its suites in Colorado Springs, Colorado and is expected to begin amortization for Sunset at Broken Arrow in Fall 2026 and Sunset at McKinney in Q1 2027 when these venues are slated to open.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84A_eus-gaap--AdvertisingCostsPolicyTextBlock_z8VcUXynbdQg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zS1asfUr6QR2">Advertising Expenses</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advertising costs are expensed as incurred and included in operating expenses in the accompanying Consolidated Statements of Operations. Total advertising expenses were approximately $<span id="xdx_905_eus-gaap--AdvertisingExpense_c20250101__20251231_zaQKdOHwBYcd" title="Advertising expense">6,102,505</span> and $<span id="xdx_907_eus-gaap--AdvertisingExpense_c20240101__20241231_zJpNc9rcf7Vc" title="Advertising expense">3,568,704</span> for the years ended December 31, 2025 and 2024, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84F_ecustom--PreOpeningExpensePolicyTextBlock_zhjWlvXIkrNl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_zw0Z0onpySkf">Pre-Opening Expenses</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-capital expenditures associated with opening a new restaurant, event center, or amphitheater are expensed as incurred. These costs consist of expenses incurred before the opening of a new location and include occupancy, labor, travel, training, food, beverage, marketing and other initial supplies and expenses. These costs are included in general and administrative expenses reported in our Consolidated Statements of Operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84F_eus-gaap--DebtPolicyTextBlock_zB9HhJkkqKAe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zjlVBnexYdUj">Debt Issuance Costs</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt issuance costs incurred in connection with the issuance of long-term debt are recorded as reductions of long-term debt and are amortized over the term of the related debt. Amortization of debt issuance costs of $<span id="xdx_90B_eus-gaap--AmortizationOfFinancingCosts_c20250101__20251231_zwDNqNBwKpBi" title="Amortization of debt issuance costs">916,681</span> and $<span id="xdx_906_eus-gaap--AmortizationOfFinancingCosts_c20240101__20241231_zJAiLCVFPMra" title="Amortization of debt issuance costs">2,917,989</span> for years ended December 31, 2025 and 2024, respectively, are included in interest expense in the accompanying Consolidated Statements of Operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_847_eus-gaap--CompensationRelatedCostsPolicyTextBlock_zg8ksi17OlU7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zs8lBUTHFt44">Equity Based Compensation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes equity-based compensation expense based on the fair value of the warrants or stock options at the time of the grant or issuance.  Share-based compensation includes warrants and stock options issued to the Company’s employees. These may vest immediately or vest evenly up to five years. The exercise price of a warrant or stock option is the fair value of the Company’s stock price on the grant date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_847_eus-gaap--EquityMethodInvestmentsIssuancesPolicy_zgaowTuDbmLg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zmT0WgOK1UWc">Equity Issuance Costs</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Equity issuance costs represent amounts paid for legal, consulting, and other offering expenses in conjunction with the future raising of additional capital to be performed within one year. These costs are netted against additional paid-in capital as a cost of the stock issuance upon closing of the respective stock placement. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84D_ecustom--StockOptionsAndWarrantsPolicyTextBlock_zYEtPHzKbZ08" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_zHvQWUCdAZI6">Stock Options and Warrants</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for stock options and warrants as either equity-classified or liability-classified instruments based on an assessment of the stock options’ and warrant’s specific terms and applicable authoritative guidance. The assessment considers whether the stock options and warrants are freestanding financial instruments, meet the definition of a liability, and whether the warrants meet all the requirements for equity classification, including whether the stock options and warrants are indexed to the Company’s own stock and whether the stock options and warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of the stock option and warrant issuance and as of each subsequent balance sheet date while the warrants are outstanding. For issued or modified stock options and warrants that meet all of the criteria for equity classification, the stock options and warrants are required to be recorded as a component of stockholders’ equity at the time of issuance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84A_eus-gaap--IncomeTaxPolicyTextBlock_zOlh5Cgpkajh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zbu1vejoN65l">Income Taxes</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is subject to federal and state income taxes. A proportional share of the Company’s subsidiaries’ provisions are included in the consolidated financial statements. Deferred income tax assets and liabilities are computed for differences between the asset and liability method and financial statement amounts that will result in taxable or deductible amounts in the future. The Company computes deferred balances based on enacted tax laws and applicable rates for the periods in which the differences are expected to affect taxable income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A valuation allowance is recognized for deferred tax assets if it is more likely than not that some portion or all of the net deferred tax assets will not be realized. In making such a determination, all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies and results of recent operations is considered. If the Company determines it will be able to realize the deferred</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">tax assets for which a valuation allowance had been recorded, then it will adjust the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company evaluates the tax positions taken on income tax returns that remain open and positions expected to be taken on the current year tax returns to identify uncertain tax positions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unrecognized tax benefits on uncertain tax positions are recorded on the basis of a two-step process in which (1) an assessment is made as to whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the largest amount of tax benefit that is more than 50 percent likely to be realized is recognized. Interest and penalties related to unrecognized tax benefits are recorded in income tax benefit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is a C corporation (“C Corp”), however, the Company’s subsidiaries are limited liability companies (“LLC’s”), that have elected to be taxed as partnerships. As an LLC, management believes that these companies are not subject to income taxes, and such taxes are the responsibility of the respective members. The subsidiaries’ LLCs are still in place, with the parent Company filing as a corporation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84B_eus-gaap--ConsolidationVariableInterestEntityPolicy_zKaSzzY41OT9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_zCbvqESzmVql">Non-controlling Interest and Variable Interest Entities</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The non-controlling interest (“<i>NCI</i>”) represents capital contributions and distributions, income and loss attributable to the owners of less than wholly owned consolidated entities and are reported in equity. NCIs are evaluated by the Company and are shown as permanent equity. Net income (loss) attributable to NCIs reflects the portion of the net income (loss) of consolidated entities applicable to the NCI stockholders in the accompanying Consolidated Statements of Operations. The net income (loss) attributable to NCIs is classified in the Consolidated Statements of Operations as part of consolidated net income (loss) and deducted from total consolidated net income (loss) to arrive at the consolidated net income (loss) attributable to the Company. <span style="background-color: white">The Company has evaluated its investments in its consolidated entities in order to determine if they qualify as variable interest entities (“<i>VIEs</i>”). </span>The Company is the entity that holds the majority, and only, voting interests and is also the primary beneficiary of the VIEs. <span style="background-color: white">The Company monitors these investments and, to the extent it has determined that it owns a majority of the controlling class of securities of a particular entity, analyzes the entity for potential consolidation. The Company will continually analyze investments, including when there is a reconsideration event, to determine whether such investments are VIEs and whether such VIE should be consolidated. These analyses require considerable judgment in determining the primary beneficiary of a VIE and could result in the consolidation of an entity that would otherwise not have been consolidated or the non-consolidation of an entity that would have otherwise been consolidated.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for the change in its ownership interest while it retains its <span id="xdx_905_eus-gaap--LongTermDebtPercentageBearingVariableInterestRate_iI_pid_dp_uPure_c20251231_zU6QCBThxmXh" title="Ownership interest">100</span>% controlling financial interest, as the Company owns <span id="xdx_900_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231_zEgyCUSDvENk" title="Voting membership interest">100</span>% of the voting membership interest, in all of its majority-owned subsidiaries and VIEs as equity transactions. As such, the Company is the entity that holds the majority, and only, voting interests and is also the primary beneficiary of the VIEs. These VIEs meets the definition of a business and the VIE’s assets can be used for purposes other than the settlement of the VIE’s obligations, The Company is the holder of controlling variable interests in its VIEs and is also the holder as the primary beneficiary of all of its VIEs. These VIEs exist for the Company’s operations and purposes. The Company is the sole manager of the legal entity and operating manager of these VIEs. The Company would provide support to the VIEs, including events that may expose the Company to the VIEs reporting losses. The Company directly controls the VIE’s financial position in terms of operations, construction, acquisition of real estate, financial performance and directs its cash flows. As the VIEs issue voting equity interests to the Company, the Company holds 100% voting interest and is also the primary beneficiary of the VIE. The VIEs meet or will meet the definition of a business once open for operations and the VIEs’ assets can be used for purposes other than settlement of the VIE’s obligations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying value of the NCI should be adjusted to reflect the change in the Company’s ownership interest in the subsidiary, and differences between the fair value of the consideration received and the amount by which the NCI is adjusted should be recognized in equity attributable to the Company. This may be shown as NCI and as additional paid in capital to the Company when combined agree to the subsidiary issuance of shares as shown in the Consolidated Statements of Change in Stockholders’ Equity. If a change in ownership of a consolidated subsidiary results in a loss of control or deconsolidation, any retained ownership interests are remeasured with the gain or loss reported to net earnings. These may be majority-owned subsidiaries or variable interest entities that the Company has <span id="xdx_906_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20250101__20251231_zK6ZmDIFTZtc" title="Variable interest entities voting percentage">100</span>% voting control of.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2025, the Company bought <span id="xdx_902_eus-gaap--StockRepurchasedDuringPeriodShares_c20250101__20251231_zubgnhTsHcNh" title="Bought shares of SHC">5,100,000</span> membership units of SHC. This purchase transaction did not result in a change in control of SHC.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--ScheduleOfVariableInterestEntitiesTextBlock_zqiwY0wP7lKb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The following table shows the classification and carrying value of assets and liabilities of consolidated VIEs as of December 31, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zKZUdmAsOj3h" style="display: none">SCHEDULE OF CARRYING VALUE OF ASSETS AND LIABILITIES OF CONSOLIDATED VARIABLE INTEREST ENTITIES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--BourbonBrothersPresentsColoradoMember_zsRNOrXUfKV9" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">BBPCO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_494_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetColoradoMember_zQmoDYzud778" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset CO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49E_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--HospitalityIncomeAndAssetLlcMember_ztDAfK4BDDUk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">HIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_490_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--GAHIAMember_zR89jxBcJwE4" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">GAHIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_494_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetHospitalityCollectionLlcMember_zmtwADLLrb68" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">SHC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetBrokenArrowLLCMember_zMJ3LI2oogj7" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset BA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_495_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetMcKinneyLLCMember_zbwePzkACTM9" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset McK</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetElPasoLLCMember_zagkYrU8Resk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset El</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_491_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--VenuIncMember_zclGCMLI0zHj" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu Inc</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49F_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--VenuVipRidesLlcMember_zNiXtqfk6NAi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu VIP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_490_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--NotesDSTLLCMember_zty1NtavkeMb" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Notes DST</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_498_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetHoustonMember_zlMihpYLgX53" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset Hous</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_494_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--HallAtCentennialLLCMember_z1xtjV5ysOQ6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Hall at Cen</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_497_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetAtMustangCreekLlcMember_zinP8dH1O3pi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset MC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_zNpgw16ltUp5" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--AssetsAbstract_iB_zFenPkQ0lmQk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">ASSETS</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--Cash_iI_zJ8IWhqKZ0kc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font-size: 8pt">Cash</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">53,337</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">362</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">163,403</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">280,933</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">508,141</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">797,593</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">2,611,759</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">2,222,234</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">538,035</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">6,343</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">169,547</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">1,683,056</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">756,160</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1490">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">9,790,903</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_i02I_zmTihaMmF9t7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Property and equipment, net</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">132,311</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">46,992,411</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">9,466,022</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,270,541</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">42,941,425</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">64,726,088</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">92,234,432</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,629,290</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1501">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1502">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1503">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1504">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">132,744</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1506">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">268,524,071</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_ecustom--OtherAssetsVariableInterestEntity_i02TI_z7D8W0UI3xe6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Other assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,062,258</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">606,150</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">404,845</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">964,476</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,738,369</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">13,976,710</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,932,073</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,704,413</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,476</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,500,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,042,004</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">508,550</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1522">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">41,465,517</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_402_eus-gaap--Assets_i01TI_zkpBhS6Nhja" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,247,906</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,002,773</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,235,575</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,956,319</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">44,414,042</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">68,262,050</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">108,822,901</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,783,597</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,242,448</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">20,819</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,669,547</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,725,060</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,397,454</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1538">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">319,780,491</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_i01B_zgIecYdz4dri" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">LIABILITIES</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_eus-gaap--AccountsPayableCurrentAndNoncurrent_i02I_zFuU3Ky99bo4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Accounts payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">45,277</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,435</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">95,163</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,788</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">629,355</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">28,838,639</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">24,235,272</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">593,165</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,999</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,652</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">15,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">39,077</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">37,113</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1570">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">54,554,935</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_405_ecustom--AccruedLiabilitiesCurrentAndNoncurrents_i02I_zEeyAJGrarnh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Accrued expenses and other</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">281,692</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">760,786</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">507,459</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">356,843</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">515,920</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,988,928</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">15,824,951</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">531,312</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">30,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">761</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,979</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">121,119</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">104,304</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1586">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">26,026,054</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_401_eus-gaap--OtherLongTermDebt_i02I_zVqWEJmty0J6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Other long-term liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">978,063</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1590">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,879,468</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,901,428</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">5,937,119</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">675,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">26,701,800</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1596">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1597">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1598">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1599">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">25,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1601">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1602">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">41,097,878</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_405_eus-gaap--Liabilities_i01TI_zyCINSU8fBN6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total Liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,305,032</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">764,221</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,482,090</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,263,059</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,082,394</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">36,502,567</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">66,762,023</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,124,477</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">44,999</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,413</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">16,979</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">185,196</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">141,417</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1618">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">121,678,867</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eus-gaap--StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_i01I_zLRC2VpMEVAj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Stockholders’ Equity &amp; NCI</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(57,126</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">46,238,552</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,753,485</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,693,260</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">37,331,648</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">31,759,483</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">42,060,878</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,659,120</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,197,449</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">16,406</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,652,568</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,539,864</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,256,037</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">     <span style="-sec-ix-hidden: xdx2ixbrl1634">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">198,101,624</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40B_eus-gaap--LiabilitiesAndStockholdersEquity_i01TI_zjE76ZgXcmhl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total liabilities and equity</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,247,906</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,002,773</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,235,575</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,956,319</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">44,414,042</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">68,262,050</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">108,822,901</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,783,597</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,242,448</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">20,819</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,669,547</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,725,060</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,397,454</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1650">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">319,780,491</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_495_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--BourbonBrothersPresentsColoradoMember_zXNzeGkC9oHf" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">BBPCO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_495_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetColoradoMember_zLGnhhrA4Ofi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset CO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_490_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--HospitalityIncomeAndAssetLlcMember_zCaQopElJyWl" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">HIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_496_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--GAHIAMember_zj6kDPXy1uD3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">GAHIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49F_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetHospitalityCollectionLlcMember_zpq5UwU4xa75" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">SHC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49C_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetBrokenArrowLLCMember_zC0KdnWSgGP2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset BA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_490_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetMustangCreekLLCMember_zXdHsf0IxjL3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset McK</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_494_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetElPasoLLCMember_zYEMYaVSXLXk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset El</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--VenuVipRidesLlcMember_zqjj3WDs7pAb" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu VIP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49D_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--NotesDSTLLCMember_zwu0OKrZbpLd" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Notes DST</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49D_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetTNMember_zQ1lsXbV69Qa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset TN</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_493_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetAtMustangCreekLlcMember_zbeY8MBaWyAg" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset MC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_498_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_zlxOFJKeGFck" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--AssetsAbstract_iB_z0sBnYIxeDia" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">ASSETS</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--Cash_iI_zaYfqvMBI1W9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 22%"><span style="font-size: 8pt">Cash</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">260,107</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">31,663</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">100,475</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">212,512</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">5,723,088</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">767,752</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">11,808,891</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">101,469</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">2,342</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">205,922</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1677">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">1,414,974</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">20,629,195</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_i02I_zDnoeeKWiud" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Property and equipment, net</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">40,583</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,620,003</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,277,794</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,631,874</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">12,172,841</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">22,745,062</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,980,140</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">202,483</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1689">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1690">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1691">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">36,724</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">105,707,504</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_ecustom--OtherAssetsVariableInterestEntity_i02TI_ztb8yxFX5D3e" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Other assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,191,762</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">98,108</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">723,801</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">186,356</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">349,945</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1700">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,086,179</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1702">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,187</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1705">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1706">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">12,658,338</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_402_eus-gaap--Assets_i01TI_z8LlAp0NYAj5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,492,452</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,749,774</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,102,070</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,030,742</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">18,245,874</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">23,512,814</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">23,875,210</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">303,952</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">13,529</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">216,922</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1719">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,451,698</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">138,995,037</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_i01B_zbaykI8kXWM6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">LIABILITIES</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40A_eus-gaap--AccountsPayableCurrentAndNoncurrent_i02I_zLonWBqxiwA2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Accounts payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">59,419</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">95,655</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">34,516</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">413</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,669,239</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">13,507,259</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">430,518</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">76,039</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,829</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">139,779</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1747">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1748">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">17,027,666</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_405_ecustom--AccruedLiabilitiesCurrentAndNoncurrents_i02I_zgJSzAN4QZv7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Accrued expenses and other</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">365,638</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">167,047</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">191,565</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,452</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">92,112</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,535,164</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">124,322</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1758">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1759">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1760">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1761">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1762">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,490,300</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_401_eus-gaap--OtherLongTermDebt_i02I_z8dtXLEzmvee" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Other long-term liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,054,770</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,963,333</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,305,253</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,190,509</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1769">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">550,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">879,424</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1772">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1773">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1774">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1775">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1776">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">21,943,289</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_eus-gaap--Liabilities_i01TI_zPzTNQMxUYja" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total Liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,479,827</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">12,226,035</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,531,334</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,205,374</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,761,351</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">16,592,423</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,434,264</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">76,039</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,829</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">139,779</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1789">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1790">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">42,461,255</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_eus-gaap--StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_i01I_zQO0ifyC7FZ1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Stockholders’ Equity &amp; NCI</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">12,625</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">35,523,739</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,570,736</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,825,368</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">15,484,523</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,920,391</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">22,440,946</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">227,913</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(1,300</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">77,143</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1803">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,451,698</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">96,533,782</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--LiabilitiesAndStockholdersEquity_i01TI_zz3oyVSWYAvj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total liabilities and equity</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,492,452</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,749,774</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,102,070</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,030,742</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">18,245,874</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">23,512,814</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">23,875,210</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">303,952</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">13,529</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">216,922</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1817">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,451,698</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">138,995,037</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p id="xdx_8A8_zPz6xO6BpJz7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b></span></p> <p id="xdx_897_ecustom--ScheduleOfNonControllingInterestsTableTextBlock_zG50n7Ht4Tld" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table is a summary of the Company’s non-controlling interests for the years ended December 31, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zxBeKtDVdMY1" style="display: none">SCHEDULE OF NON CONTROLLING INTERESTS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B8_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--BourbonBrothersPresentsColoradoMember_zdzm2LU0yOeh" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">BBPCO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B3_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetColoradoMember_zLRkHh43TC1h" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset CO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--HospitalityIncomeAndAssetLlcMember_zKR8v3qDe1ad" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">HIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BD_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--GAHIAMember_z7cEhROF8NOa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">GAHIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetHospitalityCollectionLlcMember_z6SLKufzAT5d" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">SHC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B5_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetBrokenArrowLLCMember_zQh9Ke3i4AHa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset BA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B2_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetMustangCreekLLCMember_zx8CwROMbmLc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset MC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B8_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetMcKinneyLLCMember_zpczckZZYcUh" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset McK</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BB_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetAtElPasoLlcMember_zifbiQNqQCV8" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset EP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BC_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--VenuIncMember_z1ujLbKs0jAb" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu Inc</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--VenuVipRidesLlcMember_zYhl6fZrKw0e" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu VIP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B0_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--NotesCS1LLCMember_zD6T9sZSFb08" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Notes CS 1</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BB_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--VenuLuxesuitesLLCMember_zgItONoADOj2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Luxe</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BA_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetHoustonMember_z6jYxWQgNGF9" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset Hous</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B6_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--HallAtCentennialLLCMember_zftiDufGbpmg" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Hall at Cen</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BA_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_z7enIT6KObSf" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_434_c20250101__20251231_eus-gaap--MinorityInterest_iS_z0O8oSWGvq" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 36%"><span style="font-size: 8pt">Balance at December 31, 2024</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">(91,207</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">20,093,064</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">585,324</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">6,631,807</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">3,137,216</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">110,810</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">(65,428</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">4,595,687</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1831">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1832">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">(3,595</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">100,625</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1835">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1836">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1837">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">35,094,303</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_zVGr7PhgyLI9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Net income (loss) attributable to Non-Controlling Interest 1/1-12/31/25</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(56,399</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,859,636</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(13,162</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">178,043</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(939,092</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(725,651</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1846">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,113,952</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(24,509</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(22,291</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,242</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(101,637</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1852">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(5,177</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(1,796</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(6,687,501</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr id="xdx_40D_ecustom--NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuances_zPPBwxpoetn7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">Subsidiary issuance of shares</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1857">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1858">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1859">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1860">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,137,938</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,751,767</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1863">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">17,097,022</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(7,295</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">377,785</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1867">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,932,162</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1869">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">64,801</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">100,615</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">40,454,795</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40C_eus-gaap--MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_iN_di_zIvvThzM6X8l" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> Distributions to non-controlling shareholders</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1874">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(250,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(5,454</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(497,020</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(898,834</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1879">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(876,250</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1881">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1882">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(120,907</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1884">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(228,203</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1886">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1887">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1888">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,876,668</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr id="xdx_430_c20250101__20251231_eus-gaap--MinorityInterest_iE_zRTr7Gh70N57" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> Balance at December 31, 2025</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(147,606</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">16,983,428</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">566,708</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,312,830</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">15,437,227</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,136,926</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(941,678</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">19,578,757</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(31,804</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">234,587</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(5,837</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,702,947</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1903">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">59,624</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">98,819</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">65,984,929</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B8_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--BourbonBrothersPresentsColoradoMember_z3YtGgG4FfWh" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">BBPCO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B3_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetColoradoMember_zQgM2xnRLzO7" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset CO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--HospitalityIncomeAndAssetLlcMember_zCmUfwbnMSv2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">HIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BD_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--GAHIAMember_z965zaJN3R9g" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">GAHIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetHospitalityCollectionLlcMember_zF6RZUBnF0p4" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">SHC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B5_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetBrokenArrowLLCMember_zwX5HczR4Trk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset BA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B2_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetMustangCreekLLCMember_zVstTEN7z1S5" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset MC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B8_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetMcKinneyLLCMember_zLGwzoeUi2i5" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset McK</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--VenuVipRidesLlcMember_z7PkXlgok6g4" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu VIP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B0_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--NotesCS1LLCMember_zPFhPZg29IPh" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Notes CS 1</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B6_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_zzjeBTRkPp7c" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_43A_c20240101__20241231_eus-gaap--MinorityInterest_iS_zzjmc6kR5V8f" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 34%"><span style="font-size: 8pt">Balance at December 31, 2023</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">(118,444</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">21,620,755</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">601,110</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">6,733,243</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">2,053,440</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">47,106</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">288,653</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1915">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1916">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1917">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">31,225,863</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_437_c20240101__20241231_eus-gaap--MinorityInterest_iS_zDoTGl4BaGI" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">Balance</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(118,444</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">21,620,755</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">601,110</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,733,243</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,053,440</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,106</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">288,653</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1927">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1928">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1929">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">31,225,863</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_zLc6xI2dUQI2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> Net income (loss) attributable to Non-Controlling Interest 1/1-12/31/24</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">27,237</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(1,379,798</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(12,150</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">341,324</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(926,840</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(334,279</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(40,504</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(278,811</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(3,150</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,248</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,609,219</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr id="xdx_40C_ecustom--NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuances_zbswuT9Sovrb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">Subsidiary issuance of shares</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1944">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">338,742</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1946">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1947">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,010,616</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">397,983</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(313,577</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,874,498</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(445</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">104,277</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,412,094</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40B_eus-gaap--MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_iN_di_zW0AKn2p1yhf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> Distributions to non-controlling shareholders</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1956">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(486,635</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(3,636</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(442,760</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1963">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(1,404</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(934,435</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr id="xdx_43D_c20240101__20241231_eus-gaap--MinorityInterest_iE_zQ33Jhyling7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> Balance at December 31, 2024</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(91,207</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">20,093,064</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">585,324</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,631,807</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,137,216</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">110,810</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(65,428</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,595,687</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(3,595</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">100,625</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">35,094,303</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_43A_c20240101__20241231_eus-gaap--MinorityInterest_iE_zwB82meR9VAi" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> Balance</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">(91,207</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">20,093,064</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">585,324</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">6,631,807</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">3,137,216</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">110,810</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">(65,428</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">4,595,687</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">(3,595</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">100,625</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">35,094,303</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p id="xdx_8AA_zI89nngikjv7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_843_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zcEhcJ6dbiTd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zDnJT2075LL7">Segment Reporting</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers our restaurant and event center operations as similar, in close proximity, and have aggregated them into a single reportable segment. Revenue from customers is derived principally from food and beverage services with a portion being served in conjunction with live entertainment. Our chief operating decision maker (the “CODM”) is the Chief Executive Officer. The CODM makes operating performance assessment and resource allocation decisions on a consolidated basis. The CODM does not receive discrete financial information about asset allocation, expense allocation or profitability by product or geography.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif"><b> </b></span></p> <p id="xdx_843_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zrey8mbIIHw7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zeOqdrOMSsck">Recently Issued and Adopted Accounting Pronouncements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 14, 2023, the FASB issued ASU No. 2023-09, <i>Improvements to Income Tax Disclosures </i>(“ASU 2023-09”). ASU 2023-09 amends ASC 740, <i>Income Taxes </i>to expand income tax disclosures and requires that the Company disclose (i) the income tax rate reconciliation using both percentages and reporting currency amounts; (ii) specific categories within the income tax rate reconciliation; (iii) additional information for reconciling items that meet a quantitative threshold; (iv) the composition of state and local income taxes by jurisdiction; and (v) the amount of income taxes paid disaggregated by jurisdiction. The Company has elected to adopt this guidance prospectively beginning January 1, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 4, 2024, the FASB issued ASU No. 2024-03, <i>Expense Disaggregation Disclosures </i>(“ASU 2024-03”). ASU 2024-03 amends ASC 220, <i>Comprehensive Income </i>to expand income statement expense disclosures and require disclosure in the notes to the financial statements of specified information about certain costs and expenses. ASU 2024-03 is required to be adopted for fiscal years commencing after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact of adopting the standard on the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, the FASB issued ASU 2025-05, <i>Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets</i> (ASU 2025-05), which allows the Company to elect a practical expedient for measuring expected credit losses on current accounts receivable and current contract assets arising from transactions accounted for as revenues from contracts with customers. This expedient allows the Company to assume that current economic conditions as of the balance sheet date do not change for the remaining life of the asset. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025 and interim periods within fiscal years beginning after December 15, 2026. As permitted, the Company has elected to early adopt the practical expedient as of December 31, 2025 and applied its provisions prospectively to the provision for uncollectable accounts. The adoption of ASU 2025-05 did not have a material impact on the consolidated results of operations, cash flows or financial condition of the Company. See “Provision for Uncollectible Accounts” herein for additional information and disclosures impacted by ASU 2025-05.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 4, 2025, President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law, which is considered the enactment date under U.S. GAAP. This legislation introduces several provisions affecting businesses, including the permanent extension of certain expiring elements of the Tax Cuts and Jobs Act, modifications to the international tax framework, and favorable tax treatment for certain other business provisions. Key corporate tax provisions include existing 21% corporate income tax rate made permanent, the restoration of 100% bonus depreciation, immediate expensing for domestic research and experimental expenditures, changes to Section 163(j) interest limitations, updates to Global Intangible Low Tax Income (GILTI) and Foreign- Derived Intangible Income (FDII) rules, amendments to energy credits, and expanded Section 162(m) aggregation requirements. The OBBBA contains multiple effective dates, with some provisions applicable beginning in 2025. The legislation does not impact the Company’s prior years’ financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_85A_zFCckkKgr7Fd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p id="xdx_84F_ecustom--BasisOfPresentationAndUseOfEstimatesPolicyTextBlock_zCLKF7PqQQm9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_862_z2FAf8AX9Yhf">Basis of Presentation and Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_849_ecustom--RisksAndUncertaintiesPolicyTextBlock_zIzFTdoDcBgc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zrXc2xG8euLj">Risks and Uncertainties</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and judgements that affect the application of accounting policies and the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are continuously evaluated and are based on management’s experience and other factors, including expectations regarding future events that are believed to be reasonable under the circumstances. Actual results may differ significantly from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant estimates made by management include, but are not limited to: economic lives of leased assets; impairment assessment of long-lived assets; depreciable lives of property, plant and equipment; useful lives of intangible assets; accruals for contingencies including tax contingencies; valuation allowances for deferred income tax assets; estimates of fair value of identifiable assets and liabilities acquired in business combinations; initial measurement (and any subsequent remeasurement) of operating right-of-use assets and lease liabilities, including the discount rate used in the present value calculation of future payments, and estimates of fair value used in the private stock valuations used for equity based compensation of warrants and stock options.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_ecustom--LiquidityAndCapitalResourcesPolicyTextBlock_znv4ZO6ePxh4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zRWpKcju5mpe">Liquidity and Capital Resources</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has devoted substantially all of its efforts to developing its business plan, raising capital, opening, planning and operating its restaurants and event venues in Colorado, Georgia, Oklahoma and Texas. The accompanying consolidated financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and liabilities and commitments in the normal course of business.  </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements do not reflect any adjustments that might result if the Company is unable to continue as a going concern. As of the issuance of these financials, management has concluded that substantial doubt about the Company’s ability to continue as a going concern for the next twelve months has been alleviated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company had an accumulated deficit of $<span id="xdx_907_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_di_c20251231_zqGZwyARUogk" title="Accumulated deficit">91,454,930</span> and $<span id="xdx_909_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_di_c20241231_zE7GYHXXKGl" title="Accumulated deficit">47,361,208</span> as of December 31, 2025 and 2024, respectively, and incurred net losses of $<span id="xdx_90A_eus-gaap--ProfitLoss_di_c20250101__20251231_zNRLW8TiEeNi" title="Net losses">50,781,223</span> and $<span id="xdx_901_eus-gaap--ProfitLoss_di_c20240101__20241231_zwVi8YoC6f1i" title="Net losses">32,948,974</span> for the years ended December 31, 2025 and 2024, respectively. These conditions raised substantial doubt about the Company’s ability to continue as a going concern; however, based on management’s plan to add additional venue locations and continue its business operations, Venu believes that such substantial doubt has been alleviated. The Company believes that cash on hand, anticipated improved profitability in 2026 from operating venues and restaurants in Colorado Springs, Colorado and Gainesville, Georgia, the full season of operations of Ford Amphitheater in 2026, including Roth’s Sea &amp; Steak and Brohan’s, opening of Sunset at Broken Arrow in fall 2026, and additional capital raising and debt financing in 2025 and potentially in 2026, including the issuance of Series B Preferred Shares in January 2026 and public offering completed in March 2026, will altogether allow the Company to continue its business operations for at least 12 months from the date of this Annual Report. Nonetheless, the Company’s continued implementation of its business plan to add additional locations is dependent on its future engagement in strategic locations, real estate transactions, capital raising, and debt financing. There is no guarantee that the Company will be able to execute on these plans as laid out above. If the Company is unable to enter into strategic transactions, the Company may be required to delay its business plan implementation for future expansion, which would have a material adverse impact on the Company’s growth plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> -91454930 -47361208 -50781223 -32948974 <p id="xdx_840_eus-gaap--ConsolidationPolicyTextBlock_zyf2lyUmDuv1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zKo3nWneiivf">Principles of Consolidation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements include the accounts of the Company and its wholly owned, majority-owned subsidiaries and variable interest entities. For those entities that aren’t wholly owned by Company, the Company assesses the voting and management control to confirm the Company is the primary beneficiary of the majority-owned subsidiaries and variable interest entities. All intercompany accounts and transactions have been eliminated upon consolidation. See “Organization” and “Non-controlling Interest” for further discussions of the entities that are majority-owned subsidiaries and variable interest entities. Investments for which the Company exercises significant influence but does not have control are accounted for under the equity method. See “Investments in related parties” for further discussion.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>  </b> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_846_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zAC5syZ6Wu35" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_zKxyCi0mKQG2">Fair Value Measurements</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair values have been determined for measurement and/or disclosure purposes based on the following methods. The Company characterizes inputs used in determining fair value using a hierarchy that prioritizes inputs depending on the degree to which they are observable. The levels of the fair value hierarchy are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 – fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 – fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 – fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying values of cash and cash equivalents, inventories, prepaid expenses and other current assets, payables and accrued liabilities approximate their fair values because of the short-term nature of these financial instruments. Balances due to and due from related parties do not have specific repayment dates and are payable on demand, thus are also considered current and short-term in nature, hence carrying value approximates fair value and are included in current assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_845_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zyOCmS1oJJTe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zVUCqQosNB9l">Cash and Cash Equivalents</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers cash and cash equivalents to include all highly liquid investments with an original maturity of three months or less. Our cash and cash equivalents include bank accounts as well as interest-bearing accounts consisting primarily of bank deposits and money market accounts managed by third-party financial institutions. As of December 31, 2025, the Company had $<span id="xdx_90D_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20251231_zJ7x14kutEQ9" title="Cash equivalents">23,095,342</span> of cash and cash equivalents in the form of money market accounts that earned interest income of $<span id="xdx_906_eus-gaap--InterestIncomeExpenseNet_c20250101__20251231_zNJwglpnx089" title="Interest income">198,576</span> for the year ended December 31, 2025. As of December 31, 2024, the Company had $<span id="xdx_90B_eus-gaap--CashEquivalentsAtCarryingValue_iI_c20241231_zJG94TqvoRfd" title="Cash equivalents">15,241,184</span> of cash and cash equivalents in the form of money market accounts that earned interest income of $<span id="xdx_90B_eus-gaap--InterestIncomeExpenseNet_c20240101__20241231_zRgjSjHX3f82" title="Interest income">705,729</span> for the year ended December 31, 2024. Cash and cash equivalents may exceed federally insured limits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 23095342 198576 15241184 705729 <p id="xdx_840_eus-gaap--InventoryPolicyTextBlock_zO6sriS1Y5Jl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_z4IB44x3OsV9">Inventories</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories, consisting principally of food, beverages and supplies, are stated at the lower of cost (determined by the first-in, first-out method) or net realizable value. The Company reviews inventory on a weekly basis and determines if slow-moving or obsolete inventory exists. No allowance is deemed necessary as of December 31, 2025 and 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84E_eus-gaap--InvestmentPolicyTextBlock_zQ4aWShvj0Si" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zjs3JWARJ13e">Investments in related parties</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company currently accounts for certain investments using a practical expedient to measure these investments that do not have a readily determinable fair value in accordance with Accounting Standards Codification (“ASC”) 321, <i>Investments - Equity Securities</i>; ASC 325, <i>Investments – Other</i>; ASC 810, <i>Consolidation;</i> and ASC 820, <i>Fair Value Measurement</i>. The investments are initially recognized at cost. Any income or loss from these investments are recognized on the Consolidated Statements of Operations, net of operating expenses. The carrying value of the Company’s investments are assessed for indicators or impairment at each balance sheet date. Under this method of accounting, the investment is derecognized once the Company’s interest in the investment is sold or impaired. Upon sale, any proportionate gain or loss is recognized in the Consolidated Statements of Operations as other income. <span style="background-color: white">See Note 7 – Investments in Related Parties and Note 8 – Related Party Transactions for further discussion.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_846_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zFMjOjtkiAch" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_zufsoAv9ija2">Property and Equipment</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are recorded at historical cost net of accumulated depreciation and amortization, write-downs and impairment losses. Property and equipment are recorded as construction in progress until they are placed in service and are depreciated or amortized once placed in service. Depreciation and amortization are calculated on a straight-line basis over the following periods:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_ecustom--ScheduleOfEstimatedUsefulLifeOfPropertyAndEquipmentTableTextBlock_zhCmGjQGBFCl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The estimated useful lives are:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zczlK6XONzva" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left">Leasehold improvements</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: right"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20251231_zRImxg0JSZY" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23UsefulLifeTermOfLeaseMember"><span style="-sec-ix-hidden: xdx2ixbrl1369">Shorter of lease term or useful life</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Furniture, fixtures and equipment</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zKNCYveAlo29" title="Estimaed useful life">2</span>-<span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zIDhcGJx1Yp6" title="Estimaed useful life">10</span> years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Buildings</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">Up to <span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingMember__srt--RangeAxis__srt--MaximumMember_zWCzgUVPJOk4" title="Estimaed useful lives">40</span> years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Aircraft</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AircraftMember_z9OEEKFoaaQ4" title="Estimaed useful lives">20</span> years</td></tr> </table> <p id="xdx_8AD_zSd1F9JSJdOa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment costs directly associated with the acquisition, development and construction of operating venues and restaurants are capitalized. Expenditures for major improvements and betterments are capitalized while expenditures for maintenance and repairs are expensed as incurred. Upon retirement or disposal of assets, the accounts are relieved of cost and accumulated depreciation and amortization and the related gain or loss is reflected in earnings.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capitalization of Interest Costs of Real Estate Projects</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company acquires real estate for the construction and development of future venues. Interest costs incurred over the period in which the construction and development of the venue is substantially complete are recorded as part of the historical cost of the real estate asset and depreciated under the same method as property and equipment. The Company capitalized $<span id="xdx_906_eus-gaap--InterestCostsCapitalized_c20250101__20251231_zsoAsRmcF8nb" title="Interest costs capitalized">212,247</span> and $<span id="xdx_90E_eus-gaap--InterestCostsCapitalized_c20240101__20241231_zDbDbRCiJhU7" title="Interest costs capitalized">0</span> of interest costs during the years ended December 31, 2025 and 2024, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_ecustom--ScheduleOfEstimatedUsefulLifeOfPropertyAndEquipmentTableTextBlock_zhCmGjQGBFCl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The estimated useful lives are:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zczlK6XONzva" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left">Leasehold improvements</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: right"><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20251231_zRImxg0JSZY" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23UsefulLifeTermOfLeaseMember"><span style="-sec-ix-hidden: xdx2ixbrl1369">Shorter of lease term or useful life</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Furniture, fixtures and equipment</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zKNCYveAlo29" title="Estimaed useful life">2</span>-<span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zIDhcGJx1Yp6" title="Estimaed useful life">10</span> years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Buildings</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">Up to <span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingMember__srt--RangeAxis__srt--MaximumMember_zWCzgUVPJOk4" title="Estimaed useful lives">40</span> years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Aircraft</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AircraftMember_z9OEEKFoaaQ4" title="Estimaed useful lives">20</span> years</td></tr> </table> P2Y P10Y P40Y P20Y 212247 0 <p id="xdx_848_eus-gaap--GoodwillAndIntangibleAssetsGoodwillPolicy_zEqb54SkswOg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zxkmMy4NTvn6">Intangible Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets with a finite life are recorded at cost and are amortized on a straight-line basis over estimated useful lives. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. The Company currently has naming rights that are amortized on a straight-line basis over <span id="xdx_909_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dc_c20251231_zPX3tVDmlBu9" title="Naming rights, estimaed useful life">six years</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company reviews the carrying values of its intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group might not be recoverable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> P6Y <p id="xdx_840_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zuEv2MsPsyLa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zXOcWT7pYMdd">Impairment Assessment of Long-Lived Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An evaluation for impairment is performed at the lowest level of identifiable cash flows. An impairment loss is recognized in an amount equal to the excess of the carrying value over the estimated fair value. <span id="xdx_90A_eus-gaap--ImpairmentOfLongLivedAssetsToBeDisposedOf_do_c20250101__20251231_zgvAULDcEAJf"><span id="xdx_901_eus-gaap--ImpairmentOfLongLivedAssetsToBeDisposedOf_do_c20240101__20241231_zELXpfWjjufl">No</span></span> impairment loss was recognized during the years ended December 31, 2025 and 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 0 0 <p id="xdx_84E_ecustom--ProvisionForUncollectibleAccountsPolicyTextBlock_zCJto5vOflT3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zUeo0hGxlZNb">Provision for Uncollectible Accounts</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See “Recently Issued and Adopted Accounting Pronouncements” herein for additional information on the adoption of ASU 2025-05 and the practical expedient related to credit losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s customers include attendees of concerts, shows and events (collectively “event centers”), restaurant diners and sponsors. The collection of payments for event centers and restaurants is handled at point of sale. Sponsors sign a contract that commits them to sponsorship payments over the contract term. Based on historical collection experience and other factors, the Company has determined that a provision for uncollectible accounts is not necessary. Circumstances that could affect this estimate include, but are not limited to, customer credit issues and general economic conditions. The Company writes off customer accounts when they are deemed to be uncollectible, which have historically been infrequent. The Company has elected the practical expedient to assume that current conditions as of the balance sheet date will remain unchanged for the remaining life of the receivables when estimating expected credit losses. For all periods presented, there were no uncollectible accounts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_849_eus-gaap--RevenueRecognitionPolicyTextBlock_zJ4fdZDRHxgk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zgSAZ71E5Soc">Revenue Recognition</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenue in accordance with Financial Accounting Standards Board (“FASB”) ASC 606, <i>Revenue from Contracts with Customers</i>. This ASC requires an entity to allocate the transaction price received from customers to each separate and distinct performance obligation and recognize revenue as these performance obligations are satisfied. The Company recognizes revenue from restaurant sales when food and beverage products are transferred to the customer. Revenue from a venue rental, concert or show is recognized when the event, concert or show occurs. Amounts collected in advance of the event are recorded as deferred revenue until the event occurs. Amounts collected from sponsorship agreements, which are not related to a single event, are classified as deferred revenue and recognized over the term of the agreements as the benefits are provided to the sponsors. As of</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2025 and 2024, deferred revenue totaled $<span id="xdx_909_eus-gaap--DeferredRevenueCurrent_iI_c20251231_zYa6XZ5Amcxk" title="Deferred revenue">1,542,564</span> and $<span id="xdx_908_eus-gaap--DeferredRevenueCurrent_iI_c20241231_zZGNswRNMpbb" title="Deferred revenue">1,528,159</span>, respectively. There are no refunds or allowance for refunds in accordance with the Company’s reservation policies, which do not allow for, except in limited circumstances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for the licensing of its hospitality fire pit suites of NHC and its owners club memberships for Sunset at Broken Arrow and Sunset at McKinney as long-term licensing liability. The deposits range from $<span id="xdx_90C_eus-gaap--Deposits_iI_c20251231__srt--RangeAxis__srt--MinimumMember_zz9Up3rVDmT4" title="Deposits">50,000</span> to $<span id="xdx_905_eus-gaap--Deposits_iI_c20251231__srt--RangeAxis__srt--MaximumMember_zD4hSBljImJf" title="Deposits">100,000</span> and fully prepaid licenses of $<span id="xdx_90E_ecustom--PrepaidLicenses_iI_c20251231__srt--RangeAxis__srt--MinimumMember_z1IdXZN3ofpk" title="Prepaid licenses">100,000</span> to $<span id="xdx_90D_ecustom--PrepaidLicenses_iI_c20251231__srt--RangeAxis__srt--MaximumMember_z701UHidzhM1" title="Prepaid licenses">200,000</span> are recognized in this account. The amortization of these liabilities started to be recognized in June 2025 when NHC fully opened its suites in Colorado Springs, Colorado. For the year ended December 31, 2025, the Company recognized rental income totaling $<span id="xdx_90B_eus-gaap--RentalIncomeNonoperating_c20250101__20251231_zsZBUxCAIJad" title="Rental income">130,278</span> from prepaid licenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company contracted with a subsidiary of the Anschutz Entertainment Group (“<i>AEG</i>”), AEG Presents-Rocky Mountains, LLC, a major music and entertainment events presenter, to operate Ford Amphitheater in Colorado Springs, Colorado, which opened in August 2024. Within the Company’s Amphitheater Operations, its pre-sells naming rights to its amphitheater by partnering with industry-leading brands under naming-rights agreements. The Company generates net profits that are split with AEG through: (i) ticket sales, fees and rebates on tickets for concerts and events held at Ford Amphitheater; (ii) parking fees; (iii) venue rentals, which may occur for a variety of corporate and personal events; (iv) food and beverage sold at the shows and events; and (v) sponsorship sales, which allow brands to advertise at the Company’s venue by showcasing their names and logos on a variety of sponsorship inventory curated for the venue and at each event the Company promotes and hosts, all of which are offset by operating expenses, artist expenses, supplies, security, utilities, insurance, overhead, etc. within the Company’s net amphitheater revenue recognition from AEG. As of December 31, 2025 and 2024, the Company had a net receivable of $<span id="xdx_906_eus-gaap--AccountsReceivableNet_iI_c20251231_zhh8tNh29s29" title="Accounts receivable net">225,822</span> and $<span id="xdx_90D_eus-gaap--AccountsReceivableNet_iI_c20241231_zqfQZ43LqOx9" title="Accounts receivable net">193,766</span>, respectively, with no allowance for credit losses as the Company believes the balance is fully collectible.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 1, 2025, the Company entered into a Multi-Event Incentive Agreement with Live Nation Worldwide, Inc. (“Live Nation”) in connection with the amphitheater being developed in Broken Arrow, Oklahoma (“Sunset at Broken Arrow”). The Agreement provides incentives to Live Nation to book and promote live music concerts, comedy events and other mutually approved entertainment events at the Sunset at Broken Arrow. The incentive payment is based on the number of tickets sold at each event during each contract year, which is based on a tiered chart with varying incentive payments per ticket sold depending on the range of total tickets sold per contract year. A bonus payment will be paid to Live Nation for one dollar for each ticket sold at each event where the gross revenue of ticket sales for an event equal to or is greater than $<span id="xdx_900_eus-gaap--Revenues_c20250101__20251231__srt--ProductOrServiceAxis__custom--TicketSalesMember_z1jQ7850SAS" title="Revenues">650,000</span>. The incentive and bonus payments payable to Live Nation will begin when the first event is held at the Sunset at Broken Arrow, which is anticipated to open in Fall 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 10, 2025, the Company entered into an Operator Agreement with Live Nation Worldwide, Inc. (“Live Nation”) to lease the premises on which the amphitheater is being developed in McKinney, Texas (“Sunset at McKinney). The Operator Agreement provides for a revenue-sharing arrangement whereby Live Nation will pay the Company a percentage of the net profits generated from Live Nation’s events at the Sunset McKinney, after deducting applicable event-related expenses and other costs and expenses chargeable to the parties’ co-promotion of events. The Agreement also names Live Nation as the exclusive third-party booking agency for all events held at the Sunset at McKinney. The Agreement may be terminated without penalty if certain conditions are not satisfied or may otherwise be terminated upon an uncured event of default.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 1542564 1528159 50000 100000 100000 200000 130278 225822 193766 650000 <p id="xdx_84B_eus-gaap--LesseeLeasesPolicyTextBlock_zK8TZcz7ZM92" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zOEUkZBJMuab">Leases</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company accounts for its leases in accordance with ASC 842, <i>Leases</i>. Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded in the Consolidated Balance Sheets as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term, including any renewal options that are likely to be exercised, at the rate implicit in the lease. Lease liabilities are increased by the principal amount due and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term. In calculating the right-of-use asset and lease liability, the Company elects to combine lease and non-lease components as permitted under ASC 842. The Company excludes short-term leases having initial terms of 12 months or less as an accounting policy election and expenses payments on these short-term leases as they are made.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_ecustom--LongTermLicensingLiabilityPolicyTextBlock_zihpIcSy1DSk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_z4lb7lBHdn8b">Long-term Licensing Liability</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for the licensing of its hospitality fire pit suites of NHC and its owners club memberships for Sunset at Broken Arrow and Sunset at McKinney as long-term licensing liability. The deposits range from $<span id="xdx_90C_eus-gaap--Deposits_iI_c20251231__srt--RangeAxis__srt--MinimumMember_zTXUoWuPa0Of" title="Deposits">50,000</span> to $<span id="xdx_904_eus-gaap--Deposits_iI_c20251231__srt--RangeAxis__srt--MaximumMember_zWN7483oWIlh" title="Deposits">100,000</span> and fully prepaid licenses of $<span id="xdx_90F_ecustom--PrepaidLicenses_iI_c20251231__srt--RangeAxis__srt--MinimumMember_zmRcIlPwqxsk" title="Prepaid licenses">100,000</span> to $<span id="xdx_906_ecustom--PrepaidLicenses_iI_c20251231__srt--RangeAxis__srt--MaximumMember_zsc6XaHBWDHh" title="Prepaid licenses">200,000</span> are recognized in this account. The amortization of these liabilities started to be recognized in June 2025 when NHC fully opened its suites in Colorado Springs, Colorado and is expected to begin amortization for Sunset at Broken Arrow in Fall 2026 and Sunset at McKinney in Q1 2027 when these venues are slated to open.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 50000 100000 100000 200000 <p id="xdx_84A_eus-gaap--AdvertisingCostsPolicyTextBlock_z8VcUXynbdQg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zS1asfUr6QR2">Advertising Expenses</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advertising costs are expensed as incurred and included in operating expenses in the accompanying Consolidated Statements of Operations. Total advertising expenses were approximately $<span id="xdx_905_eus-gaap--AdvertisingExpense_c20250101__20251231_zaQKdOHwBYcd" title="Advertising expense">6,102,505</span> and $<span id="xdx_907_eus-gaap--AdvertisingExpense_c20240101__20241231_zJpNc9rcf7Vc" title="Advertising expense">3,568,704</span> for the years ended December 31, 2025 and 2024, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 6102505 3568704 <p id="xdx_84F_ecustom--PreOpeningExpensePolicyTextBlock_zhjWlvXIkrNl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_zw0Z0onpySkf">Pre-Opening Expenses</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-capital expenditures associated with opening a new restaurant, event center, or amphitheater are expensed as incurred. These costs consist of expenses incurred before the opening of a new location and include occupancy, labor, travel, training, food, beverage, marketing and other initial supplies and expenses. These costs are included in general and administrative expenses reported in our Consolidated Statements of Operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84F_eus-gaap--DebtPolicyTextBlock_zB9HhJkkqKAe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zjlVBnexYdUj">Debt Issuance Costs</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt issuance costs incurred in connection with the issuance of long-term debt are recorded as reductions of long-term debt and are amortized over the term of the related debt. Amortization of debt issuance costs of $<span id="xdx_90B_eus-gaap--AmortizationOfFinancingCosts_c20250101__20251231_zwDNqNBwKpBi" title="Amortization of debt issuance costs">916,681</span> and $<span id="xdx_906_eus-gaap--AmortizationOfFinancingCosts_c20240101__20241231_zJAiLCVFPMra" title="Amortization of debt issuance costs">2,917,989</span> for years ended December 31, 2025 and 2024, respectively, are included in interest expense in the accompanying Consolidated Statements of Operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 916681 2917989 <p id="xdx_847_eus-gaap--CompensationRelatedCostsPolicyTextBlock_zg8ksi17OlU7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zs8lBUTHFt44">Equity Based Compensation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes equity-based compensation expense based on the fair value of the warrants or stock options at the time of the grant or issuance.  Share-based compensation includes warrants and stock options issued to the Company’s employees. These may vest immediately or vest evenly up to five years. The exercise price of a warrant or stock option is the fair value of the Company’s stock price on the grant date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_847_eus-gaap--EquityMethodInvestmentsIssuancesPolicy_zgaowTuDbmLg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zmT0WgOK1UWc">Equity Issuance Costs</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Equity issuance costs represent amounts paid for legal, consulting, and other offering expenses in conjunction with the future raising of additional capital to be performed within one year. These costs are netted against additional paid-in capital as a cost of the stock issuance upon closing of the respective stock placement. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84D_ecustom--StockOptionsAndWarrantsPolicyTextBlock_zYEtPHzKbZ08" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_zHvQWUCdAZI6">Stock Options and Warrants</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for stock options and warrants as either equity-classified or liability-classified instruments based on an assessment of the stock options’ and warrant’s specific terms and applicable authoritative guidance. The assessment considers whether the stock options and warrants are freestanding financial instruments, meet the definition of a liability, and whether the warrants meet all the requirements for equity classification, including whether the stock options and warrants are indexed to the Company’s own stock and whether the stock options and warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of the stock option and warrant issuance and as of each subsequent balance sheet date while the warrants are outstanding. For issued or modified stock options and warrants that meet all of the criteria for equity classification, the stock options and warrants are required to be recorded as a component of stockholders’ equity at the time of issuance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84A_eus-gaap--IncomeTaxPolicyTextBlock_zOlh5Cgpkajh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zbu1vejoN65l">Income Taxes</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is subject to federal and state income taxes. A proportional share of the Company’s subsidiaries’ provisions are included in the consolidated financial statements. Deferred income tax assets and liabilities are computed for differences between the asset and liability method and financial statement amounts that will result in taxable or deductible amounts in the future. The Company computes deferred balances based on enacted tax laws and applicable rates for the periods in which the differences are expected to affect taxable income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A valuation allowance is recognized for deferred tax assets if it is more likely than not that some portion or all of the net deferred tax assets will not be realized. In making such a determination, all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies and results of recent operations is considered. If the Company determines it will be able to realize the deferred</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">tax assets for which a valuation allowance had been recorded, then it will adjust the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company evaluates the tax positions taken on income tax returns that remain open and positions expected to be taken on the current year tax returns to identify uncertain tax positions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unrecognized tax benefits on uncertain tax positions are recorded on the basis of a two-step process in which (1) an assessment is made as to whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the largest amount of tax benefit that is more than 50 percent likely to be realized is recognized. Interest and penalties related to unrecognized tax benefits are recorded in income tax benefit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is a C corporation (“C Corp”), however, the Company’s subsidiaries are limited liability companies (“LLC’s”), that have elected to be taxed as partnerships. As an LLC, management believes that these companies are not subject to income taxes, and such taxes are the responsibility of the respective members. The subsidiaries’ LLCs are still in place, with the parent Company filing as a corporation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84B_eus-gaap--ConsolidationVariableInterestEntityPolicy_zKaSzzY41OT9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_zCbvqESzmVql">Non-controlling Interest and Variable Interest Entities</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The non-controlling interest (“<i>NCI</i>”) represents capital contributions and distributions, income and loss attributable to the owners of less than wholly owned consolidated entities and are reported in equity. NCIs are evaluated by the Company and are shown as permanent equity. Net income (loss) attributable to NCIs reflects the portion of the net income (loss) of consolidated entities applicable to the NCI stockholders in the accompanying Consolidated Statements of Operations. The net income (loss) attributable to NCIs is classified in the Consolidated Statements of Operations as part of consolidated net income (loss) and deducted from total consolidated net income (loss) to arrive at the consolidated net income (loss) attributable to the Company. <span style="background-color: white">The Company has evaluated its investments in its consolidated entities in order to determine if they qualify as variable interest entities (“<i>VIEs</i>”). </span>The Company is the entity that holds the majority, and only, voting interests and is also the primary beneficiary of the VIEs. <span style="background-color: white">The Company monitors these investments and, to the extent it has determined that it owns a majority of the controlling class of securities of a particular entity, analyzes the entity for potential consolidation. The Company will continually analyze investments, including when there is a reconsideration event, to determine whether such investments are VIEs and whether such VIE should be consolidated. These analyses require considerable judgment in determining the primary beneficiary of a VIE and could result in the consolidation of an entity that would otherwise not have been consolidated or the non-consolidation of an entity that would have otherwise been consolidated.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for the change in its ownership interest while it retains its <span id="xdx_905_eus-gaap--LongTermDebtPercentageBearingVariableInterestRate_iI_pid_dp_uPure_c20251231_zU6QCBThxmXh" title="Ownership interest">100</span>% controlling financial interest, as the Company owns <span id="xdx_900_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20250101__20251231_zEgyCUSDvENk" title="Voting membership interest">100</span>% of the voting membership interest, in all of its majority-owned subsidiaries and VIEs as equity transactions. As such, the Company is the entity that holds the majority, and only, voting interests and is also the primary beneficiary of the VIEs. These VIEs meets the definition of a business and the VIE’s assets can be used for purposes other than the settlement of the VIE’s obligations, The Company is the holder of controlling variable interests in its VIEs and is also the holder as the primary beneficiary of all of its VIEs. These VIEs exist for the Company’s operations and purposes. The Company is the sole manager of the legal entity and operating manager of these VIEs. The Company would provide support to the VIEs, including events that may expose the Company to the VIEs reporting losses. The Company directly controls the VIE’s financial position in terms of operations, construction, acquisition of real estate, financial performance and directs its cash flows. As the VIEs issue voting equity interests to the Company, the Company holds 100% voting interest and is also the primary beneficiary of the VIE. The VIEs meet or will meet the definition of a business once open for operations and the VIEs’ assets can be used for purposes other than settlement of the VIE’s obligations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying value of the NCI should be adjusted to reflect the change in the Company’s ownership interest in the subsidiary, and differences between the fair value of the consideration received and the amount by which the NCI is adjusted should be recognized in equity attributable to the Company. This may be shown as NCI and as additional paid in capital to the Company when combined agree to the subsidiary issuance of shares as shown in the Consolidated Statements of Change in Stockholders’ Equity. If a change in ownership of a consolidated subsidiary results in a loss of control or deconsolidation, any retained ownership interests are remeasured with the gain or loss reported to net earnings. These may be majority-owned subsidiaries or variable interest entities that the Company has <span id="xdx_906_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20250101__20251231_zK6ZmDIFTZtc" title="Variable interest entities voting percentage">100</span>% voting control of.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2025, the Company bought <span id="xdx_902_eus-gaap--StockRepurchasedDuringPeriodShares_c20250101__20251231_zubgnhTsHcNh" title="Bought shares of SHC">5,100,000</span> membership units of SHC. This purchase transaction did not result in a change in control of SHC.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--ScheduleOfVariableInterestEntitiesTextBlock_zqiwY0wP7lKb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The following table shows the classification and carrying value of assets and liabilities of consolidated VIEs as of December 31, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zKZUdmAsOj3h" style="display: none">SCHEDULE OF CARRYING VALUE OF ASSETS AND LIABILITIES OF CONSOLIDATED VARIABLE INTEREST ENTITIES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--BourbonBrothersPresentsColoradoMember_zsRNOrXUfKV9" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">BBPCO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_494_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetColoradoMember_zQmoDYzud778" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset CO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49E_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--HospitalityIncomeAndAssetLlcMember_ztDAfK4BDDUk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">HIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_490_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--GAHIAMember_zR89jxBcJwE4" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">GAHIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_494_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetHospitalityCollectionLlcMember_zmtwADLLrb68" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">SHC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetBrokenArrowLLCMember_zMJ3LI2oogj7" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset BA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_495_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetMcKinneyLLCMember_zbwePzkACTM9" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset McK</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetElPasoLLCMember_zagkYrU8Resk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset El</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_491_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--VenuIncMember_zclGCMLI0zHj" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu Inc</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49F_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--VenuVipRidesLlcMember_zNiXtqfk6NAi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu VIP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_490_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--NotesDSTLLCMember_zty1NtavkeMb" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Notes DST</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_498_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetHoustonMember_zlMihpYLgX53" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset Hous</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_494_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--HallAtCentennialLLCMember_z1xtjV5ysOQ6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Hall at Cen</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_497_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetAtMustangCreekLlcMember_zinP8dH1O3pi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset MC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_zNpgw16ltUp5" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--AssetsAbstract_iB_zFenPkQ0lmQk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">ASSETS</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--Cash_iI_zJ8IWhqKZ0kc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font-size: 8pt">Cash</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">53,337</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">362</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">163,403</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">280,933</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">508,141</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">797,593</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">2,611,759</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">2,222,234</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">538,035</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">6,343</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">169,547</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">1,683,056</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">756,160</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1490">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">9,790,903</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_i02I_zmTihaMmF9t7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Property and equipment, net</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">132,311</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">46,992,411</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">9,466,022</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,270,541</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">42,941,425</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">64,726,088</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">92,234,432</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,629,290</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1501">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1502">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1503">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1504">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">132,744</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1506">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">268,524,071</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_ecustom--OtherAssetsVariableInterestEntity_i02TI_z7D8W0UI3xe6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Other assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,062,258</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">606,150</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">404,845</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">964,476</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,738,369</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">13,976,710</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,932,073</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,704,413</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,476</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,500,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,042,004</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">508,550</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1522">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">41,465,517</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_402_eus-gaap--Assets_i01TI_zkpBhS6Nhja" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,247,906</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,002,773</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,235,575</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,956,319</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">44,414,042</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">68,262,050</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">108,822,901</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,783,597</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,242,448</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">20,819</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,669,547</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,725,060</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,397,454</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1538">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">319,780,491</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_i01B_zgIecYdz4dri" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">LIABILITIES</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_eus-gaap--AccountsPayableCurrentAndNoncurrent_i02I_zFuU3Ky99bo4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Accounts payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">45,277</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,435</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">95,163</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,788</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">629,355</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">28,838,639</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">24,235,272</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">593,165</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,999</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,652</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">15,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">39,077</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">37,113</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1570">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">54,554,935</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_405_ecustom--AccruedLiabilitiesCurrentAndNoncurrents_i02I_zEeyAJGrarnh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Accrued expenses and other</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">281,692</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">760,786</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">507,459</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">356,843</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">515,920</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,988,928</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">15,824,951</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">531,312</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">30,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">761</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,979</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">121,119</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">104,304</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1586">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">26,026,054</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_401_eus-gaap--OtherLongTermDebt_i02I_zVqWEJmty0J6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Other long-term liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">978,063</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1590">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,879,468</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,901,428</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">5,937,119</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">675,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">26,701,800</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1596">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1597">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1598">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1599">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">25,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1601">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1602">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">41,097,878</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_405_eus-gaap--Liabilities_i01TI_zyCINSU8fBN6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total Liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,305,032</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">764,221</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,482,090</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,263,059</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,082,394</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">36,502,567</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">66,762,023</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,124,477</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">44,999</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,413</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">16,979</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">185,196</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">141,417</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1618">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">121,678,867</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eus-gaap--StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_i01I_zLRC2VpMEVAj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Stockholders’ Equity &amp; NCI</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(57,126</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">46,238,552</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,753,485</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,693,260</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">37,331,648</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">31,759,483</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">42,060,878</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,659,120</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,197,449</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">16,406</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,652,568</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,539,864</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,256,037</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">     <span style="-sec-ix-hidden: xdx2ixbrl1634">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">198,101,624</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40B_eus-gaap--LiabilitiesAndStockholdersEquity_i01TI_zjE76ZgXcmhl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total liabilities and equity</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,247,906</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,002,773</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,235,575</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,956,319</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">44,414,042</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">68,262,050</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">108,822,901</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,783,597</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,242,448</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">20,819</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,669,547</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,725,060</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,397,454</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1650">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">319,780,491</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_495_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--BourbonBrothersPresentsColoradoMember_zXNzeGkC9oHf" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">BBPCO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_495_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetColoradoMember_zLGnhhrA4Ofi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset CO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_490_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--HospitalityIncomeAndAssetLlcMember_zCaQopElJyWl" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">HIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_496_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--GAHIAMember_zj6kDPXy1uD3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">GAHIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49F_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetHospitalityCollectionLlcMember_zpq5UwU4xa75" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">SHC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49C_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetBrokenArrowLLCMember_zC0KdnWSgGP2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset BA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_490_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetMustangCreekLLCMember_zXdHsf0IxjL3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset McK</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_494_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetElPasoLLCMember_zYEMYaVSXLXk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset El</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--VenuVipRidesLlcMember_zqjj3WDs7pAb" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu VIP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49D_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--NotesDSTLLCMember_zwu0OKrZbpLd" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Notes DST</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49D_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetTNMember_zQ1lsXbV69Qa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset TN</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_493_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetAtMustangCreekLlcMember_zbeY8MBaWyAg" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset MC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_498_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_zlxOFJKeGFck" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--AssetsAbstract_iB_z0sBnYIxeDia" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">ASSETS</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--Cash_iI_zaYfqvMBI1W9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 22%"><span style="font-size: 8pt">Cash</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">260,107</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">31,663</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">100,475</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">212,512</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">5,723,088</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">767,752</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">11,808,891</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">101,469</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">2,342</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">205,922</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1677">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">1,414,974</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">20,629,195</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_i02I_zDnoeeKWiud" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Property and equipment, net</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">40,583</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,620,003</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,277,794</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,631,874</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">12,172,841</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">22,745,062</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,980,140</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">202,483</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1689">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1690">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1691">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">36,724</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">105,707,504</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_ecustom--OtherAssetsVariableInterestEntity_i02TI_ztb8yxFX5D3e" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Other assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,191,762</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">98,108</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">723,801</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">186,356</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">349,945</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1700">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,086,179</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1702">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,187</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1705">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1706">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">12,658,338</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_402_eus-gaap--Assets_i01TI_z8LlAp0NYAj5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,492,452</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,749,774</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,102,070</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,030,742</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">18,245,874</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">23,512,814</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">23,875,210</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">303,952</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">13,529</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">216,922</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1719">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,451,698</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">138,995,037</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_i01B_zbaykI8kXWM6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">LIABILITIES</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40A_eus-gaap--AccountsPayableCurrentAndNoncurrent_i02I_zLonWBqxiwA2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Accounts payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">59,419</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">95,655</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">34,516</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">413</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,669,239</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">13,507,259</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">430,518</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">76,039</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,829</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">139,779</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1747">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1748">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">17,027,666</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_405_ecustom--AccruedLiabilitiesCurrentAndNoncurrents_i02I_zgJSzAN4QZv7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Accrued expenses and other</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">365,638</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">167,047</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">191,565</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,452</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">92,112</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,535,164</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">124,322</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1758">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1759">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1760">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1761">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1762">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,490,300</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_401_eus-gaap--OtherLongTermDebt_i02I_z8dtXLEzmvee" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Other long-term liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,054,770</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,963,333</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,305,253</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,190,509</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1769">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">550,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">879,424</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1772">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1773">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1774">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1775">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1776">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">21,943,289</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_eus-gaap--Liabilities_i01TI_zPzTNQMxUYja" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total Liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,479,827</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">12,226,035</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,531,334</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,205,374</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,761,351</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">16,592,423</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,434,264</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">76,039</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,829</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">139,779</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1789">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1790">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">42,461,255</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_eus-gaap--StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_i01I_zQO0ifyC7FZ1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Stockholders’ Equity &amp; NCI</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">12,625</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">35,523,739</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,570,736</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,825,368</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">15,484,523</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,920,391</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">22,440,946</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">227,913</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(1,300</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">77,143</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1803">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,451,698</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">96,533,782</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--LiabilitiesAndStockholdersEquity_i01TI_zz3oyVSWYAvj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total liabilities and equity</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,492,452</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,749,774</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,102,070</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,030,742</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">18,245,874</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">23,512,814</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">23,875,210</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">303,952</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">13,529</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">216,922</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1817">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,451,698</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">138,995,037</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p id="xdx_8A8_zPz6xO6BpJz7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b></span></p> <p id="xdx_897_ecustom--ScheduleOfNonControllingInterestsTableTextBlock_zG50n7Ht4Tld" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table is a summary of the Company’s non-controlling interests for the years ended December 31, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zxBeKtDVdMY1" style="display: none">SCHEDULE OF NON CONTROLLING INTERESTS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B8_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--BourbonBrothersPresentsColoradoMember_zdzm2LU0yOeh" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">BBPCO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B3_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetColoradoMember_zLRkHh43TC1h" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset CO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--HospitalityIncomeAndAssetLlcMember_zKR8v3qDe1ad" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">HIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BD_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--GAHIAMember_z7cEhROF8NOa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">GAHIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetHospitalityCollectionLlcMember_z6SLKufzAT5d" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">SHC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B5_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetBrokenArrowLLCMember_zQh9Ke3i4AHa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset BA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B2_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetMustangCreekLLCMember_zx8CwROMbmLc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset MC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B8_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetMcKinneyLLCMember_zpczckZZYcUh" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset McK</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BB_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetAtElPasoLlcMember_zifbiQNqQCV8" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset EP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BC_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--VenuIncMember_z1ujLbKs0jAb" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu Inc</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--VenuVipRidesLlcMember_zYhl6fZrKw0e" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu VIP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B0_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--NotesCS1LLCMember_zD6T9sZSFb08" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Notes CS 1</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BB_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--VenuLuxesuitesLLCMember_zgItONoADOj2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Luxe</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BA_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetHoustonMember_z6jYxWQgNGF9" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset Hous</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B6_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--HallAtCentennialLLCMember_zftiDufGbpmg" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Hall at Cen</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BA_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_z7enIT6KObSf" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_434_c20250101__20251231_eus-gaap--MinorityInterest_iS_z0O8oSWGvq" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 36%"><span style="font-size: 8pt">Balance at December 31, 2024</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">(91,207</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">20,093,064</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">585,324</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">6,631,807</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">3,137,216</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">110,810</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">(65,428</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">4,595,687</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1831">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1832">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">(3,595</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">100,625</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1835">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1836">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1837">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">35,094,303</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_zVGr7PhgyLI9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Net income (loss) attributable to Non-Controlling Interest 1/1-12/31/25</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(56,399</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,859,636</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(13,162</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">178,043</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(939,092</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(725,651</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1846">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,113,952</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(24,509</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(22,291</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,242</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(101,637</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1852">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(5,177</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(1,796</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(6,687,501</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr id="xdx_40D_ecustom--NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuances_zPPBwxpoetn7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">Subsidiary issuance of shares</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1857">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1858">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1859">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1860">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,137,938</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,751,767</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1863">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">17,097,022</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(7,295</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">377,785</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1867">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,932,162</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1869">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">64,801</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">100,615</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">40,454,795</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40C_eus-gaap--MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_iN_di_zIvvThzM6X8l" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> Distributions to non-controlling shareholders</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1874">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(250,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(5,454</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(497,020</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(898,834</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1879">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(876,250</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1881">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1882">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(120,907</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1884">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(228,203</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1886">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1887">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1888">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,876,668</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr id="xdx_430_c20250101__20251231_eus-gaap--MinorityInterest_iE_zRTr7Gh70N57" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> Balance at December 31, 2025</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(147,606</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">16,983,428</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">566,708</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,312,830</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">15,437,227</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,136,926</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(941,678</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">19,578,757</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(31,804</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">234,587</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(5,837</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,702,947</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1903">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">59,624</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">98,819</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">65,984,929</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B8_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--BourbonBrothersPresentsColoradoMember_z3YtGgG4FfWh" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">BBPCO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B3_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetColoradoMember_zQgM2xnRLzO7" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset CO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--HospitalityIncomeAndAssetLlcMember_zCmUfwbnMSv2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">HIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BD_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--GAHIAMember_z965zaJN3R9g" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">GAHIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetHospitalityCollectionLlcMember_zF6RZUBnF0p4" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">SHC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B5_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetBrokenArrowLLCMember_zwX5HczR4Trk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset BA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B2_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetMustangCreekLLCMember_zVstTEN7z1S5" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset MC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B8_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetMcKinneyLLCMember_zLGwzoeUi2i5" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset McK</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--VenuVipRidesLlcMember_z7PkXlgok6g4" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu VIP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B0_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--NotesCS1LLCMember_zPFhPZg29IPh" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Notes CS 1</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B6_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_zzjeBTRkPp7c" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_43A_c20240101__20241231_eus-gaap--MinorityInterest_iS_zzjmc6kR5V8f" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 34%"><span style="font-size: 8pt">Balance at December 31, 2023</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">(118,444</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">21,620,755</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">601,110</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">6,733,243</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">2,053,440</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">47,106</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">288,653</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1915">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1916">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1917">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">31,225,863</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_437_c20240101__20241231_eus-gaap--MinorityInterest_iS_zDoTGl4BaGI" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">Balance</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(118,444</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">21,620,755</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">601,110</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,733,243</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,053,440</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,106</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">288,653</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1927">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1928">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1929">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">31,225,863</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_zLc6xI2dUQI2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> Net income (loss) attributable to Non-Controlling Interest 1/1-12/31/24</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">27,237</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(1,379,798</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(12,150</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">341,324</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(926,840</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(334,279</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(40,504</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(278,811</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(3,150</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,248</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,609,219</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr id="xdx_40C_ecustom--NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuances_zbswuT9Sovrb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">Subsidiary issuance of shares</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1944">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">338,742</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1946">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1947">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,010,616</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">397,983</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(313,577</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,874,498</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(445</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">104,277</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,412,094</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40B_eus-gaap--MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_iN_di_zW0AKn2p1yhf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> Distributions to non-controlling shareholders</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1956">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(486,635</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(3,636</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(442,760</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1963">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(1,404</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(934,435</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr id="xdx_43D_c20240101__20241231_eus-gaap--MinorityInterest_iE_zQ33Jhyling7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> Balance at December 31, 2024</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(91,207</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">20,093,064</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">585,324</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,631,807</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,137,216</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">110,810</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(65,428</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,595,687</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(3,595</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">100,625</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">35,094,303</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_43A_c20240101__20241231_eus-gaap--MinorityInterest_iE_zwB82meR9VAi" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> Balance</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">(91,207</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">20,093,064</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">585,324</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">6,631,807</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">3,137,216</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">110,810</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">(65,428</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">4,595,687</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">(3,595</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">100,625</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">35,094,303</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p id="xdx_8AA_zI89nngikjv7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 1 1 1 5100000 <p id="xdx_892_eus-gaap--ScheduleOfVariableInterestEntitiesTextBlock_zqiwY0wP7lKb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The following table shows the classification and carrying value of assets and liabilities of consolidated VIEs as of December 31, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zKZUdmAsOj3h" style="display: none">SCHEDULE OF CARRYING VALUE OF ASSETS AND LIABILITIES OF CONSOLIDATED VARIABLE INTEREST ENTITIES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--BourbonBrothersPresentsColoradoMember_zsRNOrXUfKV9" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">BBPCO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_494_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetColoradoMember_zQmoDYzud778" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset CO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49E_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--HospitalityIncomeAndAssetLlcMember_ztDAfK4BDDUk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">HIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_490_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--GAHIAMember_zR89jxBcJwE4" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">GAHIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_494_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetHospitalityCollectionLlcMember_zmtwADLLrb68" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">SHC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetBrokenArrowLLCMember_zMJ3LI2oogj7" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset BA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_495_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetMcKinneyLLCMember_zbwePzkACTM9" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset McK</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetElPasoLLCMember_zagkYrU8Resk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset El</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_491_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--VenuIncMember_zclGCMLI0zHj" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu Inc</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49F_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--VenuVipRidesLlcMember_zNiXtqfk6NAi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu VIP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_490_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--NotesDSTLLCMember_zty1NtavkeMb" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Notes DST</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_498_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetHoustonMember_zlMihpYLgX53" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset Hous</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_494_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--HallAtCentennialLLCMember_z1xtjV5ysOQ6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Hall at Cen</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_497_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetAtMustangCreekLlcMember_zinP8dH1O3pi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset MC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_zNpgw16ltUp5" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--AssetsAbstract_iB_zFenPkQ0lmQk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">ASSETS</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--Cash_iI_zJ8IWhqKZ0kc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font-size: 8pt">Cash</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">53,337</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">362</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">163,403</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">280,933</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">508,141</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">797,593</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">2,611,759</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">2,222,234</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">538,035</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">6,343</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">169,547</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">1,683,056</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">756,160</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1490">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">9,790,903</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_i02I_zmTihaMmF9t7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Property and equipment, net</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">132,311</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">46,992,411</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">9,466,022</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,270,541</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">42,941,425</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">64,726,088</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">92,234,432</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,629,290</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1501">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1502">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1503">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1504">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">132,744</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1506">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">268,524,071</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_ecustom--OtherAssetsVariableInterestEntity_i02TI_z7D8W0UI3xe6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Other assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,062,258</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">606,150</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">404,845</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">964,476</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,738,369</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">13,976,710</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,932,073</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,704,413</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,476</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,500,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,042,004</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">508,550</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1522">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">41,465,517</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_402_eus-gaap--Assets_i01TI_zkpBhS6Nhja" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,247,906</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,002,773</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,235,575</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,956,319</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">44,414,042</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">68,262,050</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">108,822,901</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,783,597</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,242,448</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">20,819</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,669,547</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,725,060</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,397,454</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1538">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">319,780,491</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_i01B_zgIecYdz4dri" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">LIABILITIES</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_eus-gaap--AccountsPayableCurrentAndNoncurrent_i02I_zFuU3Ky99bo4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Accounts payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">45,277</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,435</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">95,163</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,788</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">629,355</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">28,838,639</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">24,235,272</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">593,165</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,999</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,652</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">15,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">39,077</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">37,113</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1570">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">54,554,935</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_405_ecustom--AccruedLiabilitiesCurrentAndNoncurrents_i02I_zEeyAJGrarnh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Accrued expenses and other</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">281,692</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">760,786</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">507,459</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">356,843</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">515,920</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,988,928</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">15,824,951</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">531,312</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">30,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">761</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,979</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">121,119</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">104,304</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1586">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">26,026,054</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_401_eus-gaap--OtherLongTermDebt_i02I_zVqWEJmty0J6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Other long-term liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">978,063</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1590">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,879,468</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,901,428</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">5,937,119</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">675,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">26,701,800</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1596">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1597">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1598">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1599">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">25,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1601">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1602">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">41,097,878</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_405_eus-gaap--Liabilities_i01TI_zyCINSU8fBN6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total Liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,305,032</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">764,221</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,482,090</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,263,059</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,082,394</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">36,502,567</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">66,762,023</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,124,477</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">44,999</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,413</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">16,979</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">185,196</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">141,417</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1618">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">121,678,867</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eus-gaap--StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_i01I_zLRC2VpMEVAj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Stockholders’ Equity &amp; NCI</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(57,126</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">46,238,552</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,753,485</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,693,260</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">37,331,648</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">31,759,483</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">42,060,878</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,659,120</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,197,449</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">16,406</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,652,568</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,539,864</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,256,037</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">     <span style="-sec-ix-hidden: xdx2ixbrl1634">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">198,101,624</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40B_eus-gaap--LiabilitiesAndStockholdersEquity_i01TI_zjE76ZgXcmhl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total liabilities and equity</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,247,906</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,002,773</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,235,575</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,956,319</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">44,414,042</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">68,262,050</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">108,822,901</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,783,597</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,242,448</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">20,819</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,669,547</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">8,725,060</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,397,454</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1650">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">319,780,491</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_495_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--BourbonBrothersPresentsColoradoMember_zXNzeGkC9oHf" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">BBPCO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_495_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetColoradoMember_zLGnhhrA4Ofi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset CO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_490_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--HospitalityIncomeAndAssetLlcMember_zCaQopElJyWl" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">HIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_496_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--GAHIAMember_zj6kDPXy1uD3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">GAHIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49F_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetHospitalityCollectionLlcMember_zpq5UwU4xa75" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">SHC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49C_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetBrokenArrowLLCMember_zC0KdnWSgGP2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset BA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_490_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetMustangCreekLLCMember_zXdHsf0IxjL3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset McK</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_494_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetElPasoLLCMember_zYEMYaVSXLXk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset El</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_499_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--VenuVipRidesLlcMember_zqjj3WDs7pAb" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu VIP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49D_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--NotesDSTLLCMember_zwu0OKrZbpLd" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Notes DST</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_49D_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetTNMember_zQ1lsXbV69Qa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset TN</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_493_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember__dei--LegalEntityAxis__custom--SunsetAtMustangCreekLlcMember_zbeY8MBaWyAg" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset MC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_498_20241231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_zlxOFJKeGFck" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--AssetsAbstract_iB_z0sBnYIxeDia" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">ASSETS</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--Cash_iI_zaYfqvMBI1W9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 22%"><span style="font-size: 8pt">Cash</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">260,107</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">31,663</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">100,475</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">212,512</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">5,723,088</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">767,752</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">11,808,891</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">101,469</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">2,342</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">205,922</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1677">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">1,414,974</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">20,629,195</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_i02I_zDnoeeKWiud" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Property and equipment, net</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">40,583</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,620,003</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,277,794</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,631,874</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">12,172,841</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">22,745,062</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,980,140</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">202,483</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1689">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1690">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1691">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">36,724</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">105,707,504</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_ecustom--OtherAssetsVariableInterestEntity_i02TI_ztb8yxFX5D3e" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Other assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,191,762</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">98,108</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">723,801</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">186,356</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">349,945</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1700">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10,086,179</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1702">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,187</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1705">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1706">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">12,658,338</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_402_eus-gaap--Assets_i01TI_z8LlAp0NYAj5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total assets</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,492,452</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,749,774</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,102,070</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,030,742</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">18,245,874</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">23,512,814</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">23,875,210</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">303,952</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">13,529</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">216,922</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1719">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,451,698</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">138,995,037</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_406_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_i01B_zbaykI8kXWM6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">LIABILITIES</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40A_eus-gaap--AccountsPayableCurrentAndNoncurrent_i02I_zLonWBqxiwA2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Accounts payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">59,419</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">95,655</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">34,516</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">413</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,669,239</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">13,507,259</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">430,518</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">76,039</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,829</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">139,779</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1747">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1748">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">17,027,666</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_405_ecustom--AccruedLiabilitiesCurrentAndNoncurrents_i02I_zgJSzAN4QZv7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Accrued expenses and other</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">365,638</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">167,047</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">191,565</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,452</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">92,112</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,535,164</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">124,322</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1758">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1759">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1760">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1761">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1762">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,490,300</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_401_eus-gaap--OtherLongTermDebt_i02I_z8dtXLEzmvee" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Other long-term liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,054,770</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,963,333</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,305,253</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,190,509</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1769">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">550,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">879,424</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1772">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1773">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1774">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1775">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1776">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">21,943,289</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_eus-gaap--Liabilities_i01TI_zPzTNQMxUYja" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total Liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,479,827</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">12,226,035</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,531,334</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,205,374</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,761,351</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">16,592,423</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,434,264</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">76,039</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,829</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">139,779</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1789">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1790">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">42,461,255</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_400_eus-gaap--StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_i01I_zQO0ifyC7FZ1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Stockholders’ Equity &amp; NCI</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">12,625</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">35,523,739</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,570,736</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,825,368</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">15,484,523</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,920,391</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">22,440,946</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">227,913</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(1,300</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">77,143</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1803">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,451,698</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">96,533,782</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_408_eus-gaap--LiabilitiesAndStockholdersEquity_i01TI_zz3oyVSWYAvj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Total liabilities and equity</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,492,452</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,749,774</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,102,070</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">11,030,742</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">18,245,874</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">23,512,814</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">23,875,210</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">303,952</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">13,529</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">216,922</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1817">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,451,698</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">138,995,037</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> 53337 362 163403 280933 508141 797593 2611759 2222234 538035 6343 169547 1683056 756160 9790903 132311 46992411 9466022 10270541 42941425 64726088 92234432 1629290 132744 268524071 1062258 10000 606150 404845 964476 2738369 13976710 4932073 2704413 14476 6500000 7042004 508550 41465517 1247906 47002773 10235575 10956319 44414042 68262050 108822901 8783597 3242448 20819 6669547 8725060 1397454 319780491 45277 3435 95163 4788 629355 28838639 24235272 593165 14999 3652 15000 39077 37113 54554935 281692 760786 507459 356843 515920 6988928 15824951 531312 30000 761 1979 121119 104304 26026054 978063 2879468 3901428 5937119 675000 26701800 25000 41097878 1305032 764221 3482090 4263059 7082394 36502567 66762023 1124477 44999 4413 16979 185196 141417 121678867 -57126 46238552 6753485 6693260 37331648 31759483 42060878 7659120 3197449 16406 6652568 8539864 1256037 198101624 1247906 47002773 10235575 10956319 44414042 68262050 108822901 8783597 3242448 20819 6669547 8725060 1397454 319780491 260107 31663 100475 212512 5723088 767752 11808891 101469 2342 205922 1414974 20629195 40583 47620003 10277794 10631874 12172841 22745062 1980140 202483 36724 105707504 1191762 98108 723801 186356 349945 10086179 11187 11000 12658338 1492452 47749774 11102070 11030742 18245874 23512814 23875210 303952 13529 216922 1451698 138995037 59419 95655 34516 413 2669239 13507259 430518 76039 14829 139779 17027666 365638 167047 191565 14452 92112 2535164 124322 3490300 1054770 11963333 3305253 4190509 550000 879424 21943289 1479827 12226035 3531334 4205374 2761351 16592423 1434264 76039 14829 139779 42461255 12625 35523739 7570736 6825368 15484523 6920391 22440946 227913 -1300 77143 1451698 96533782 1492452 47749774 11102070 11030742 18245874 23512814 23875210 303952 13529 216922 1451698 138995037 <p id="xdx_897_ecustom--ScheduleOfNonControllingInterestsTableTextBlock_zG50n7Ht4Tld" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table is a summary of the Company’s non-controlling interests for the years ended December 31, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zxBeKtDVdMY1" style="display: none">SCHEDULE OF NON CONTROLLING INTERESTS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B8_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--BourbonBrothersPresentsColoradoMember_zdzm2LU0yOeh" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">BBPCO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B3_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetColoradoMember_zLRkHh43TC1h" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset CO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--HospitalityIncomeAndAssetLlcMember_zKR8v3qDe1ad" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">HIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BD_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--GAHIAMember_z7cEhROF8NOa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">GAHIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetHospitalityCollectionLlcMember_z6SLKufzAT5d" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">SHC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B5_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetBrokenArrowLLCMember_zQh9Ke3i4AHa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset BA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B2_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetMustangCreekLLCMember_zx8CwROMbmLc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset MC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B8_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetMcKinneyLLCMember_zpczckZZYcUh" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset McK</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BB_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetAtElPasoLlcMember_zifbiQNqQCV8" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset EP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BC_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--VenuIncMember_z1ujLbKs0jAb" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu Inc</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--VenuVipRidesLlcMember_zYhl6fZrKw0e" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu VIP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B0_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--NotesCS1LLCMember_zD6T9sZSFb08" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Notes CS 1</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BB_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--VenuLuxesuitesLLCMember_zgItONoADOj2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Luxe</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BA_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetHoustonMember_z6jYxWQgNGF9" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset Hous</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B6_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--HallAtCentennialLLCMember_zftiDufGbpmg" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Hall at Cen</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BA_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_z7enIT6KObSf" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_434_c20250101__20251231_eus-gaap--MinorityInterest_iS_z0O8oSWGvq" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 36%"><span style="font-size: 8pt">Balance at December 31, 2024</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">(91,207</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">20,093,064</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">585,324</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">6,631,807</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">3,137,216</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">110,810</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">(65,428</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">4,595,687</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1831">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1832">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">(3,595</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">100,625</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1835">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1836">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1837">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: right"><span style="font-size: 8pt">35,094,303</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_zVGr7PhgyLI9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">Net income (loss) attributable to Non-Controlling Interest 1/1-12/31/25</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(56,399</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,859,636</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(13,162</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">178,043</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(939,092</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(725,651</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1846">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,113,952</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(24,509</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(22,291</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,242</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(101,637</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1852">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(5,177</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(1,796</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(6,687,501</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr id="xdx_40D_ecustom--NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuances_zPPBwxpoetn7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">Subsidiary issuance of shares</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1857">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1858">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1859">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1860">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,137,938</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,751,767</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1863">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">17,097,022</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(7,295</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">377,785</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1867">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,932,162</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1869">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">64,801</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">100,615</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">40,454,795</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40C_eus-gaap--MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_iN_di_zIvvThzM6X8l" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> Distributions to non-controlling shareholders</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1874">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(250,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(5,454</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(497,020</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(898,834</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1879">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(876,250</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1881">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1882">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(120,907</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1884">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(228,203</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1886">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1887">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1888">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,876,668</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr id="xdx_430_c20250101__20251231_eus-gaap--MinorityInterest_iE_zRTr7Gh70N57" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> Balance at December 31, 2025</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(147,606</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">16,983,428</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">566,708</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,312,830</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">15,437,227</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,136,926</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(941,678</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">19,578,757</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(31,804</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">234,587</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(5,837</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,702,947</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1903">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">59,624</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">98,819</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">65,984,929</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B8_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--BourbonBrothersPresentsColoradoMember_z3YtGgG4FfWh" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">BBPCO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B3_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetColoradoMember_zQgM2xnRLzO7" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset CO</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--HospitalityIncomeAndAssetLlcMember_zCmUfwbnMSv2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">HIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4BD_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--GAHIAMember_z965zaJN3R9g" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">GAHIA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetHospitalityCollectionLlcMember_zF6RZUBnF0p4" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">SHC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B5_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetBrokenArrowLLCMember_zwX5HczR4Trk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset BA</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B2_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetMustangCreekLLCMember_zVstTEN7z1S5" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset MC</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B8_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--SunsetMcKinneyLLCMember_zLGwzoeUi2i5" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Sunset McK</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B7_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--VenuVipRidesLlcMember_z7PkXlgok6g4" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Venu VIP</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B0_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_dei--LegalEntityAxis_custom--NotesCS1LLCMember_zPFhPZg29IPh" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Notes CS 1</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" id="xdx_4B6_srt--ConsolidatedEntitiesAxis_us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_zzjeBTRkPp7c" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 8pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_43A_c20240101__20241231_eus-gaap--MinorityInterest_iS_zzjmc6kR5V8f" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 34%"><span style="font-size: 8pt">Balance at December 31, 2023</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">(118,444</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">21,620,755</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">601,110</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">6,733,243</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">2,053,440</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">47,106</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">288,653</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1915">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1916">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1917">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 3%; text-align: right"><span style="font-size: 8pt">31,225,863</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_437_c20240101__20241231_eus-gaap--MinorityInterest_iS_zDoTGl4BaGI" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">Balance</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(118,444</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">21,620,755</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">601,110</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,733,243</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,053,440</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">47,106</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">288,653</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1927">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1928">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1929">-</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">31,225,863</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_zLc6xI2dUQI2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> Net income (loss) attributable to Non-Controlling Interest 1/1-12/31/24</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">27,237</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(1,379,798</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(12,150</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">341,324</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(926,840</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(334,279</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(40,504</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(278,811</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(3,150</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,248</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(2,609,219</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr id="xdx_40C_ecustom--NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuances_zbswuT9Sovrb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt">Subsidiary issuance of shares</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1944">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">338,742</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1946">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1947">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,010,616</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">397,983</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(313,577</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,874,498</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(445</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">104,277</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">7,412,094</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_40B_eus-gaap--MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_iN_di_zW0AKn2p1yhf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> Distributions to non-controlling shareholders</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1956">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(486,635</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(3,636</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(442,760</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"><span style="-sec-ix-hidden: xdx2ixbrl1963">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(1,404</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(934,435</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr id="xdx_43D_c20240101__20241231_eus-gaap--MinorityInterest_iE_zQ33Jhyling7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> Balance at December 31, 2024</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(91,207</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">20,093,064</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">585,324</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,631,807</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">3,137,216</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">110,810</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(65,428</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">4,595,687</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">(3,595</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">100,625</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">35,094,303</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr id="xdx_43A_c20240101__20241231_eus-gaap--MinorityInterest_iE_zwB82meR9VAi" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> Balance</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">(91,207</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">20,093,064</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">585,324</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">6,631,807</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">3,137,216</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">110,810</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">(65,428</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">4,595,687</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">(3,595</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt">)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">100,625</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none"><span style="display: none; font-size: 8pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: right"><span style="display: none; font-size: 8pt">35,094,303</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: left"><span style="display: none; font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> -91207 20093064 585324 6631807 3137216 110810 -65428 4595687 -3595 100625 35094303 -56399 -2859636 -13162 178043 -939092 -725651 -2113952 -24509 -22291 -2242 -101637 -5177 -1796 -6687501 14137938 6751767 17097022 -7295 377785 1932162 64801 100615 40454795 250000 5454 497020 898834 876250 120907 228203 2876668 -147606 16983428 566708 6312830 15437227 6136926 -941678 19578757 -31804 234587 -5837 1702947 59624 98819 65984929 -118444 21620755 601110 6733243 2053440 47106 288653 31225863 -118444 21620755 601110 6733243 2053440 47106 288653 31225863 27237 -1379798 -12150 341324 -926840 -334279 -40504 -278811 -3150 -2248 -2609219 338742 2010616 397983 -313577 4874498 -445 104277 7412094 486635 3636 442760 1404 934435 -91207 20093064 585324 6631807 3137216 110810 -65428 4595687 -3595 100625 35094303 -91207 20093064 585324 6631807 3137216 110810 -65428 4595687 -3595 100625 35094303 <p id="xdx_843_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zcEhcJ6dbiTd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zDnJT2075LL7">Segment Reporting</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers our restaurant and event center operations as similar, in close proximity, and have aggregated them into a single reportable segment. Revenue from customers is derived principally from food and beverage services with a portion being served in conjunction with live entertainment. Our chief operating decision maker (the “CODM”) is the Chief Executive Officer. The CODM makes operating performance assessment and resource allocation decisions on a consolidated basis. The CODM does not receive discrete financial information about asset allocation, expense allocation or profitability by product or geography.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif"><b> </b></span></p> <p id="xdx_843_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zrey8mbIIHw7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zeOqdrOMSsck">Recently Issued and Adopted Accounting Pronouncements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 14, 2023, the FASB issued ASU No. 2023-09, <i>Improvements to Income Tax Disclosures </i>(“ASU 2023-09”). ASU 2023-09 amends ASC 740, <i>Income Taxes </i>to expand income tax disclosures and requires that the Company disclose (i) the income tax rate reconciliation using both percentages and reporting currency amounts; (ii) specific categories within the income tax rate reconciliation; (iii) additional information for reconciling items that meet a quantitative threshold; (iv) the composition of state and local income taxes by jurisdiction; and (v) the amount of income taxes paid disaggregated by jurisdiction. The Company has elected to adopt this guidance prospectively beginning January 1, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 4, 2024, the FASB issued ASU No. 2024-03, <i>Expense Disaggregation Disclosures </i>(“ASU 2024-03”). ASU 2024-03 amends ASC 220, <i>Comprehensive Income </i>to expand income statement expense disclosures and require disclosure in the notes to the financial statements of specified information about certain costs and expenses. ASU 2024-03 is required to be adopted for fiscal years commencing after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact of adopting the standard on the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, the FASB issued ASU 2025-05, <i>Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets</i> (ASU 2025-05), which allows the Company to elect a practical expedient for measuring expected credit losses on current accounts receivable and current contract assets arising from transactions accounted for as revenues from contracts with customers. This expedient allows the Company to assume that current economic conditions as of the balance sheet date do not change for the remaining life of the asset. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025 and interim periods within fiscal years beginning after December 15, 2026. As permitted, the Company has elected to early adopt the practical expedient as of December 31, 2025 and applied its provisions prospectively to the provision for uncollectable accounts. The adoption of ASU 2025-05 did not have a material impact on the consolidated results of operations, cash flows or financial condition of the Company. See “Provision for Uncollectible Accounts” herein for additional information and disclosures impacted by ASU 2025-05.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 4, 2025, President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law, which is considered the enactment date under U.S. GAAP. This legislation introduces several provisions affecting businesses, including the permanent extension of certain expiring elements of the Tax Cuts and Jobs Act, modifications to the international tax framework, and favorable tax treatment for certain other business provisions. Key corporate tax provisions include existing 21% corporate income tax rate made permanent, the restoration of 100% bonus depreciation, immediate expensing for domestic research and experimental expenditures, changes to Section 163(j) interest limitations, updates to Global Intangible Low Tax Income (GILTI) and Foreign- Derived Intangible Income (FDII) rules, amendments to energy credits, and expanded Section 162(m) aggregation requirements. The OBBBA contains multiple effective dates, with some provisions applicable beginning in 2025. The legislation does not impact the Company’s prior years’ financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_802_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zIt2Oao79xy" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 3 – <span id="xdx_829_zCZFgLhwvn1j">PROPERTY AND EQUIPMENT</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_892_eus-gaap--PropertyPlantAndEquipmentTextBlock_zXr3HaHyvAL4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net, were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BB_zrL9TQdhhbR7">SCHEDULE OF PROPERTY AND EQUIPMENT</span> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_496_20251231_zd3zaSH8zvKe" style="font: 10pt Times New Roman, Times, Serif; text-align: center">As of</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_493_20241231_zj9yc9jGga06" style="font: 10pt Times New Roman, Times, Serif; text-align: center">As of</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zNu4q89pPrCe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">Leasehold Improvements</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">191,059</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">399,319</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zUnrAdRggzI5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Furniture and equipment</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">14,500,083</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,057,967</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandBuildingsAndImprovementsMember_zU9ukpPTUffj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Land and buildings</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">157,646,079</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">93,377,840</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AircraftMember_zY9xvuHUae39" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Aircraft</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">23,538,763</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2010">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zJmKAV2kV8u2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Construction in progress</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">122,737,630</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">40,518,315</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzP80_z3MlIEpg7xbj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, gross</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">318,613,614</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">144,353,441</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzP80_zNbqPuQigduc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accumulated depreciation and amortization</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(12,666,337</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(7,137,505</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzP80_zk65gyO2BNE1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net</span><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">305,947,277</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">137,215,936</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8A4_z3FiOw9hxkda" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation and amortization expenses relating to property and equipment for the years ended December 31, 2025 and 2024 were $<span id="xdx_90C_eus-gaap--DepreciationDepletionAndAmortization_c20250101__20251231_z8Fm0cjWCD37" title="Depreciation and amortization expenses">6,110,974</span> and $<span id="xdx_901_eus-gaap--DepreciationDepletionAndAmortization_c20240101__20241231_zv7l5Z6Kklv1" title="Depreciation and amortization expenses">3,589,509</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--PropertyPlantAndEquipmentTextBlock_zXr3HaHyvAL4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net, were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BB_zrL9TQdhhbR7">SCHEDULE OF PROPERTY AND EQUIPMENT</span> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_496_20251231_zd3zaSH8zvKe" style="font: 10pt Times New Roman, Times, Serif; text-align: center">As of</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_493_20241231_zj9yc9jGga06" style="font: 10pt Times New Roman, Times, Serif; text-align: center">As of</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zNu4q89pPrCe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">Leasehold Improvements</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">191,059</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">399,319</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zUnrAdRggzI5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Furniture and equipment</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">14,500,083</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,057,967</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandBuildingsAndImprovementsMember_zU9ukpPTUffj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Land and buildings</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">157,646,079</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">93,377,840</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AircraftMember_zY9xvuHUae39" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Aircraft</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">23,538,763</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2010">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zJmKAV2kV8u2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Construction in progress</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">122,737,630</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">40,518,315</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzP80_z3MlIEpg7xbj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, gross</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">318,613,614</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">144,353,441</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzP80_zNbqPuQigduc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accumulated depreciation and amortization</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(12,666,337</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(7,137,505</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzP80_zk65gyO2BNE1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net</span><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">305,947,277</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">137,215,936</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> 191059 399319 14500083 10057967 157646079 93377840 23538763 122737630 40518315 318613614 144353441 12666337 7137505 305947277 137215936 6110974 3589509 <p id="xdx_80F_eus-gaap--IntangibleAssetsDisclosureTextBlock_zPmVBFn9ipM" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 4 - <span id="xdx_826_zrwXQfRB4Fpj">INTANGIBLES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zbH6j2w7z8Ni" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets subject to amortization consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zLjVEUWqC4Qb" style="display: none">SCHEDULE OF INTANGIBLE ASSET</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Useful</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_498_20251231_zIywsakMbTu3" style="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_493_20241231_zX0VU3jPLcg" style="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Life</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_maFLIANzdAv_zRkibE0bNoIj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 46%; text-align: left">Naming rights</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: center"><span id="xdx_901_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20251231_zuG31L3txJJ8" title="Finited lived intangible assets useful life">6</span> years</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">400,314</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">400,314</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_di_msFLIANzdAv_z37cE5mb4sn5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accumulated amortization</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(255,756</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(189,038</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANzdAv_zPuI1frWXa6k" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Intangible assets, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">144,558</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">211,276</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_8A4_zK3fcFAMCIwb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The intangible naming rights asset was put into use in 2023. Amortization expense relating to the intangible assets for the years ended December 31, 2025 and 2024 were $<span id="xdx_903_eus-gaap--AmortizationOfIntangibleAssets_c20250101__20251231_zeylxeu0Qozb" title="Amortization of intangible assets">66,718</span> and $<span id="xdx_903_eus-gaap--AmortizationOfIntangibleAssets_c20240101__20241231_zn70v5Owlz24" title="Amortization of intangible assets">66,719</span>, respectively. The estimated amortization expense for the year ended December 31, 2026 and thereafter is as follows:</span></p> <p id="xdx_89A_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zUKZ4Aj9DjVf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zLBQ9fst1jij" style="display: none">SCHEDULE OF ESTIMATED AMORTIZATION EXPENSE</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 50%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; display: none"> </td> <td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: left"> </td><td id="xdx_494_20251231_ztszskcs0NWf" style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_maFLIANzDNI_zz50Qi1wcwPl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">2026</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">66,719</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_maFLIANzDNI_zrRKJoD6kXU3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2027</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">66,719</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_maFLIANzDNI_zfWjLX0eqGN3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2028</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">11,120</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANzDNI_zeoHAFeK4syd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">144,558</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8AF_zdukqfqyQrAk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_89E_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zbH6j2w7z8Ni" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets subject to amortization consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zLjVEUWqC4Qb" style="display: none">SCHEDULE OF INTANGIBLE ASSET</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Useful</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_498_20251231_zIywsakMbTu3" style="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_493_20241231_zX0VU3jPLcg" style="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Life</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_maFLIANzdAv_zRkibE0bNoIj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 46%; text-align: left">Naming rights</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: center"><span id="xdx_901_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20251231_zuG31L3txJJ8" title="Finited lived intangible assets useful life">6</span> years</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">400,314</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">400,314</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_di_msFLIANzdAv_z37cE5mb4sn5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accumulated amortization</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(255,756</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(189,038</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANzdAv_zPuI1frWXa6k" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Intangible assets, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">144,558</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">211,276</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> P6Y 400314 400314 255756 189038 144558 211276 66718 66719 <p id="xdx_89A_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zUKZ4Aj9DjVf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zLBQ9fst1jij" style="display: none">SCHEDULE OF ESTIMATED AMORTIZATION EXPENSE</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 50%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; display: none"> </td> <td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: left"> </td><td id="xdx_494_20251231_ztszskcs0NWf" style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_maFLIANzDNI_zz50Qi1wcwPl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">2026</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">66,719</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_maFLIANzDNI_zrRKJoD6kXU3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2027</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">66,719</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_maFLIANzDNI_zfWjLX0eqGN3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2028</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">11,120</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANzDNI_zeoHAFeK4syd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">144,558</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> 66719 66719 11120 144558 <p id="xdx_804_eus-gaap--LesseeOperatingLeasesTextBlock_zBhUpWMVfU21" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 5 – <span id="xdx_827_zhZW7OeV3Jr2">LEASES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company leases the properties used for some of its restaurants, venues, office space and parking spaces.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through June 30, 2022, the Company leased the land and buildings used in BBST and BBP operations from HIA. On April 1, 2022, the Company purchased a controlling interest in the equity of HIA. Accordingly, the impact of the lease is eliminated in the consolidated financial statements. Notes in Colorado Springs leased its property from 13141 BP, LLC (“13141 BP”), a related party (refer to Note 7– Related Party Transactions footnote for further details) through June 26, 2022, when the Company acquired the membership interests of 13141 BP. The lease was structured as a triple net (“NNN”) lease, which this type of lease includes costs of maintenance, repairs, operations, taxes and insurance, with annual rents of $<span id="xdx_901_eus-gaap--LeaseCost_c20250101__20251231_z32KtmCZdDQ5" title="Lease cost">90,000</span> through July 1, 2024 and throughout 2023. The lease was amended as of July 1, 2024, to include costs of maintenance, repairs, operations, taxes and insurance. As of the acquisition date, the lease is eliminated in consolidations. As of July 18, 2025, 13141 BP sold the land and building to a 3^rd party and Notes Eatery ceased its operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company leases its office space from an unrelated party. The lease is until November 30, 2029 and escalates in base rent by <span id="xdx_906_ecustom--LeasePercentage_pid_dp_uPure_c20250101__20251231_zlzjHe0CIJ07" title="Lease percentage">1.3</span>% each year. Additionally, the Company leases an executive apartment from an unrelated party. The lease was terminated early in January 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 5, 2025, the Company entered into a ground lease agreement with a related party (“Landlord”) to lease the land owned by PPP used for parking by Sunset Ops (this includes the land and improvements, collectively the “Property”) for a 20-year term under a NNN lease structure with an option to re-purchase the Property within the first three years of the closing date of the sale at a fixed price, which would return the asset to the Company’s balance sheet. The Landlord is wholly owned by a significant shareholder of the Company. Annual base rent is initially $<span id="xdx_90E_ecustom--AnnualBaseRent_iI_c20251105_zPU4WPqkH4Ri" title="Annual base rent">1,050,000</span> and escalates by 2.5% each year beginning on November 5, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total rent expense related to leased assets including short-term leases and variable costs were $<span id="xdx_909_eus-gaap--ShortTermLeaseCost_c20250101__20251231_zbksCbLpamIa" title="Short term lease cost">1,949,705</span> and $<span id="xdx_901_eus-gaap--ShortTermLeaseCost_c20240101__20241231_zL2SoRq14SPc" title="Short term lease cost">1,703,496</span> for the years ended December 31, 2025 and 2024 respectively. Total cash paid for rent expense to leased assets was $<span id="xdx_90A_eus-gaap--PaymentsForRent_c20250101__20251231_zXYBy0ymTdLb" title="Payments for rent">590,487</span> and $<span id="xdx_90B_eus-gaap--PaymentsForRent_c20240101__20241231_zGSQ2IVwv5cl" title="Payments for rent">465,892</span> for the years ended December 31, 2025 and 2024, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 5 – LEASES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_89B_ecustom--ScheduleofAssetsandLiabilitiesLeasesTableTextBlock_z4tap0nrNUqe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table shows balance sheet information related to the operating leases:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zhblVkO0Ktve">SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASES</span> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: center">Balance Sheet Information</td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: center">Classification</td><td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: center"> </td> <td colspan="2" id="xdx_492_20251231_zNQ01PvmvmZb" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; display: none; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b style="display: none">2025</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: center"> </td> <td colspan="2" id="xdx_49B_20241231_zpuKccQsJSY1" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <b>As of</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Balance Sheet Information</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Classification</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseRightOfUseAsset_iI_zBZSifk9qdM6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 23%; text-align: left">Right-of-use assets</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 23%; text-align: center">Operating Leases</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 22%; text-align: right">17,397,009</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 22%; text-align: right">1,351,600</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityCurrent_iI_maOLLzuvF_z3hwsSE3Pfdh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Current portion of lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Operating Leases</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">605,261</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">364,244</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_maOLLzuvF_zFT7bZqMHxnk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Long-term portion of lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Operating Leases</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">16,886,027</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,020,604</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseLiability_iTI_mtOLLzuvF_zpXaRPKdJKQh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">17,491,288</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,384,848</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8A0_ztIVkd2jJqzh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zgUyC0qXMv65" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The future minimum lease payments of existing operating lease liabilities are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_znwL3ZJjL40h">SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS OF OPERATING LEASE LIABILITIES</span> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_49A_20251231_zOj1ybjeljM9" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the year ending</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzVOV_zN5joJmuVJga" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 76%; text-align: left">2026</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: right">1,446,995</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzVOV_zP3KzVe7yzB9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2027</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,365,672</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzVOV_z3XYyNRjbctc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2028</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,350,846</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_maLOLLPzVOV_z3Ks6yr8QYda" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2029</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,360,832</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_maLOLLPzVOV_zEdCpscg7hCk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2030</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,163,833</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_maLOLLPzVOV_zB3c7Lf415bl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Thereafter</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">21,104,749</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzVOV_zhldSLfJQtW9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total lease payments</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">27,792,927</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zNEy5wyesiP9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: imputed interest</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(10,301,639</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iTI_zBk1SOJt3C22" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Present value of lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">17,491,288</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_di_zfaVbL4HJUB5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: current portion</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(605,261</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_zblszV8kq1s3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Long-term portion</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">16,886,027</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8AD_ziR8LzArQYpc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_ecustom--ScheduleOfSupplementalInformationOfOperatingLeasesTableTextBlock_z2rqBi0mXdh4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; display: none"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zlNNsg07kvgj">SCHEDULE OF SUPPLEMENTAL INFORMATION OF OPERATING LEASES</span>  </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">Weighted-average remaining lease term (years)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_908_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zyJbioxdju3d" title="Weighted-average remaining lease term (years)">18.88</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_903_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20241231_zeeWg5jE9Nce" title="Weighted-average remaining lease term (years)">4.16</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Weighted-average discount rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20251231_zN4CRBIAqZQl" title="Weighted-average discount rate">5.04</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20241231_zWc45StCq9A5" title="Weighted-average discount rate">5.66</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table> <p id="xdx_8A2_zRrLd6RUWcil" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> 90000 0.013 1050000 1949705 1703496 590487 465892 <p id="xdx_89B_ecustom--ScheduleofAssetsandLiabilitiesLeasesTableTextBlock_z4tap0nrNUqe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table shows balance sheet information related to the operating leases:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zhblVkO0Ktve">SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASES</span> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: center">Balance Sheet Information</td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: center">Classification</td><td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: center"> </td> <td colspan="2" id="xdx_492_20251231_zNQ01PvmvmZb" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; display: none; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><b style="display: none">2025</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: center"> </td> <td colspan="2" id="xdx_49B_20241231_zpuKccQsJSY1" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; display: none; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <b>As of</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Balance Sheet Information</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Classification</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseRightOfUseAsset_iI_zBZSifk9qdM6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 23%; text-align: left">Right-of-use assets</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 23%; text-align: center">Operating Leases</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 22%; text-align: right">17,397,009</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 22%; text-align: right">1,351,600</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityCurrent_iI_maOLLzuvF_z3hwsSE3Pfdh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Current portion of lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Operating Leases</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">605,261</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">364,244</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_maOLLzuvF_zFT7bZqMHxnk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Long-term portion of lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Operating Leases</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">16,886,027</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,020,604</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseLiability_iTI_mtOLLzuvF_zpXaRPKdJKQh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">17,491,288</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,384,848</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> 17397009 1351600 605261 364244 16886027 1020604 17491288 1384848 <p id="xdx_89F_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zgUyC0qXMv65" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The future minimum lease payments of existing operating lease liabilities are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_znwL3ZJjL40h">SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS OF OPERATING LEASE LIABILITIES</span> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_49A_20251231_zOj1ybjeljM9" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the year ending</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"> December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzVOV_zN5joJmuVJga" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 76%; text-align: left">2026</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: right">1,446,995</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzVOV_zP3KzVe7yzB9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2027</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,365,672</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzVOV_z3XYyNRjbctc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2028</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,350,846</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_maLOLLPzVOV_z3Ks6yr8QYda" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2029</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,360,832</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_maLOLLPzVOV_zEdCpscg7hCk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2030</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,163,833</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_maLOLLPzVOV_zB3c7Lf415bl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Thereafter</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">21,104,749</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzVOV_zhldSLfJQtW9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total lease payments</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">27,792,927</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zNEy5wyesiP9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: imputed interest</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(10,301,639</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iTI_zBk1SOJt3C22" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Present value of lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">17,491,288</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_di_zfaVbL4HJUB5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: current portion</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(605,261</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_zblszV8kq1s3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Long-term portion</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">16,886,027</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> 1446995 1365672 1350846 1360832 1163833 21104749 27792927 10301639 17491288 605261 16886027 <p id="xdx_89F_ecustom--ScheduleOfSupplementalInformationOfOperatingLeasesTableTextBlock_z2rqBi0mXdh4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; display: none"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zlNNsg07kvgj">SCHEDULE OF SUPPLEMENTAL INFORMATION OF OPERATING LEASES</span>  </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">Weighted-average remaining lease term (years)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_908_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zyJbioxdju3d" title="Weighted-average remaining lease term (years)">18.88</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_903_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20241231_zeeWg5jE9Nce" title="Weighted-average remaining lease term (years)">4.16</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Weighted-average discount rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20251231_zN4CRBIAqZQl" title="Weighted-average discount rate">5.04</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20241231_zWc45StCq9A5" title="Weighted-average discount rate">5.66</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table> P18Y10M17D P4Y1M28D 0.0504 0.0566 <p id="xdx_800_eus-gaap--InvestmentTextBlock_za4KH6jkNXDh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 6 – <span id="xdx_822_zd7qAtyzELGc">INVESTMENTS</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has a minority interest in an outside entity. On January 13, 2025, the Company purchased shares of Series A Preferred Stock of FL 101, Inc. (dba EIGHT Brewing) in consideration for a cash investment of $<span id="xdx_901_ecustom--PurchaseOfPreferredStockForInvestment_c20250113__20250113__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zgAzojk05og5" title="Purchase of series A preferred stock for investment">1,999,999</span>. EIGHT Brewing, which is a food and beverage Company that creates curated lifestyle brands, including the EIGHT beer brand. Pursuant to the SPA, the Company was issued <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250113__20250113__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zsB1MSQ6kvu5" title="Investment shares">1,487,099</span> shares of FL101’s preferred stock, par value $<span id="xdx_902_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20250113__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zSv3K54RWQ6b" title="Preferred stock, par value">0.00001</span> per share (the “Preferred Stock”), designated as “Series A Preferred Stock”. The Preferred Stock has the powers, preferences, and special rights set forth in the Restated Certificate of Incorporation of FL101, including a liquidation preference, protective provisions, anti-dilution protections, and conversion rights in favor of the holders of the Preferred Stock. The Company is a minority investor in this entity. This investment is carried at fair value unless a reliable fair value cannot be determined and is reviewed at each balance sheet date for impairment. There was no impairment recorded during the year ended December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 1999999 1487099 0.00001 <p id="xdx_809_ecustom--InvestmentRelatedPartiesTextBlock_ziLO3LY1xdKc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 7 – <span id="xdx_82C_z39r2f7lkDC2">INVESTMENTS IN RELATED PARTIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has non-controlling interest investments in related parties. Accordingly, the Company utilizes the guidance stated in ASC 323, <i>Investments – Equity Method and Joint Ventures</i> to account for applicable transactions. These investments lack readily determinable fair values. Consequently, these investments are accounted for under the practical expedient at cost minus impairment plus any changes in observable price changes from an orderly transaction of similar investments. An adjustment to the recognized value of the investment is not made if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value. Any income or loss from these investments is recognized in the Consolidated Statements of Operations, net of operating expenses. These investments are reviewed at each balance sheet date for impairment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--InvestmentTableTextBlock_zgfwcVOhNKW1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The activity related to these investments for the years ended December 31, 2025 and 2024 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_z65qRtgKnXRd" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">SCHEDULE OF INVESTMENT</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Roth</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Industries LLC</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Culinova, Inc.</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Total</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 44%">Balance at December 31, 2023</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--LongTermInvestments_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_z96l8XsV54u9" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Long term investment beginning balance">550,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--LongTermInvestments_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InnovateCPGLLCMember_zCQz2woanSba" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Long term investment beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl2135">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--LongTermInvestments_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z7N0hqwiJZfc" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Long term investment beginning balance">550,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Additions</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_zG8szkNPtLqk" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Additions"><span style="-sec-ix-hidden: xdx2ixbrl2139">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InnovateCPGLLCMember_zAJ1QpqGojDa" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Additions"><span style="-sec-ix-hidden: xdx2ixbrl2141">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zXi3xADqgEHh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Additions"><span style="-sec-ix-hidden: xdx2ixbrl2143">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Balance at December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98F_eus-gaap--LongTermInvestments_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_zrgdPEanQtMl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long term investment beginning balance">550,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_985_eus-gaap--LongTermInvestments_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InnovateCPGLLCMember_zOIF9478pYig" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long term investment beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl2147">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98A_eus-gaap--LongTermInvestments_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zFxddPJj5fXc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long term investment beginning balance">550,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Additions</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_zjSh7h2XUGri" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Additions"><span style="-sec-ix-hidden: xdx2ixbrl2151">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InnovateCPGLLCMember_z5d3cK9C0S3c" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Additions">5,262</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zTNS5Iv3nTVj" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Additions">5,262</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Balance at December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_989_eus-gaap--LongTermInvestments_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_z0iezwOslEC3" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long term investment ending balance">550,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_985_eus-gaap--LongTermInvestments_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InnovateCPGLLCMember_z5F3fNdJd5O4" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long term investment ending balance">5,262</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_989_eus-gaap--LongTermInvestments_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zTStVxAYp0Cc" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long term investment ending balance">555,262</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zNajPIutsAM5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p id="xdx_898_eus-gaap--InvestmentTableTextBlock_zgfwcVOhNKW1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The activity related to these investments for the years ended December 31, 2025 and 2024 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_z65qRtgKnXRd" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">SCHEDULE OF INVESTMENT</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Roth</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Industries LLC</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Culinova, Inc.</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Total</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 44%">Balance at December 31, 2023</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--LongTermInvestments_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_z96l8XsV54u9" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Long term investment beginning balance">550,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--LongTermInvestments_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InnovateCPGLLCMember_zCQz2woanSba" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Long term investment beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl2135">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--LongTermInvestments_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z7N0hqwiJZfc" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Long term investment beginning balance">550,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Additions</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_zG8szkNPtLqk" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Additions"><span style="-sec-ix-hidden: xdx2ixbrl2139">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InnovateCPGLLCMember_zAJ1QpqGojDa" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Additions"><span style="-sec-ix-hidden: xdx2ixbrl2141">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zXi3xADqgEHh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Additions"><span style="-sec-ix-hidden: xdx2ixbrl2143">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Balance at December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98F_eus-gaap--LongTermInvestments_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_zrgdPEanQtMl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long term investment beginning balance">550,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_985_eus-gaap--LongTermInvestments_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InnovateCPGLLCMember_zOIF9478pYig" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long term investment beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl2147">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98A_eus-gaap--LongTermInvestments_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zFxddPJj5fXc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long term investment beginning balance">550,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Additions</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_zjSh7h2XUGri" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Additions"><span style="-sec-ix-hidden: xdx2ixbrl2151">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InnovateCPGLLCMember_z5d3cK9C0S3c" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Additions">5,262</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--InvestmentsInAndAdvancesToAffiliatesAtFairValueGrossAdditions_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zTNS5Iv3nTVj" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Additions">5,262</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Balance at December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_989_eus-gaap--LongTermInvestments_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_z0iezwOslEC3" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long term investment ending balance">550,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_985_eus-gaap--LongTermInvestments_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InnovateCPGLLCMember_z5F3fNdJd5O4" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long term investment ending balance">5,262</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_989_eus-gaap--LongTermInvestments_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zTStVxAYp0Cc" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Long term investment ending balance">555,262</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> 550000 550000 550000 550000 5262 5262 550000 5262 555262 <p id="xdx_800_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zXTImALyk1Zi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 8 – <span id="xdx_82D_zrNLgkBKBLTg">RELATED PARTY TRANSACTIONS</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company owns <span id="xdx_90E_eus-gaap--PreferredStockDividendsShares_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_zlpExMzBKIh2" title="Preferred stock dividend shares">526,166</span> Class B non-voting units or <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--RothIndustriesLLCMember_zbA8FOcmJfO1" title="Ownership percentage">1.2</span>% of Roth Industries, LLC (“Roth Industries”). The Company’s Chairman and CEO is also the founder, Chairman and significant equity holder of Roth Industries. Mitchell Roth, a member of the Company’s Board of Directors, is also the CEO, President, and significant equity folder of Roth Industries. The Company’s officers and directors are also minority equity owners of Roth Industries. The Company currently accounts for this investment based on ASC 325, <i>Investments – Other</i>, under the cost method. In addition, the Company recognized licensing fees from Roth Industries, totaling $<span id="xdx_90E_eus-gaap--OtherIncome_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_zAhPeCg5Nt1e" title="License fee">130,000</span> and $<span id="xdx_906_eus-gaap--OtherIncome_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_zGRc8sI37Q2l" title="License fee">130,000</span> during the years ended December 31, 2025 and 2024, respectively, for Roth’s licensing use of the Bourbon Brothers brand in grocery products since the Company holds the exclusive license to use the brand. The Company had $<span id="xdx_90F_eus-gaap--OtherReceivables_iI_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_zYxvshHurBO9" title="Other receivables">237,500</span> and $<span id="xdx_90B_eus-gaap--OtherReceivables_iI_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_zUicV3cDik52" title="Other receivables">107,500</span> in receivables from Roth Industries as of December 31, 2025 and 2024, respectively. The amounts received were recorded in other income in the Consolidated Statements of Operations and the amounts receivable included in other receivables as prepaid expenses and other current assets in the Consolidated Balance Sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company invested in Culinova, Inc. (formerly known as Innovate CPG, Inc.) for a total <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20250501__20250531__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InnovateCPGLLCMember_zwfQg4qptr72" title="Number of shares issued on acquisition">526,166</span> shares (and paid a total purchase price of $<span id="xdx_909_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_pp2d_c20250501__20250531__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--InnovateCPGLLCMember_zApGsxOFGxHe" title="Number of shares issued on acquisition, value">5,261.66</span>) in May 2025. As an equity holder of Roth Industries, the Company was afforded the right to acquire shares of Culinova, Inc. The Company’s Chairman and CEO is a director of Culinova, Inc. and Mitchell Roth, the Chairman and CEO. The Company’s officers and directors are also minority equity owners of Culinova, Inc. The Company currently accounts for this investment based on ASC 325, <i>Investments – Other</i>, under the cost method.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company on June 26, 2024, purchased <span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20240626__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OneThreeOneFourOneNotesBPLLCMember_zwQ4iwqUSIT8" title="Majority owned rate">100</span>% of the membership units from 13141 BP’s members and, as a result, owned the land and buildings for which Notes used from an existing lease arrangement. The transaction is treated as an asset acquisition and accounted for under ASC 805, Business Combinations. Under this methodology the purchase price is allocated to the acquired asset based on their proportionate fair values. The Company purchased these units of 13141 BP for a total purchase price of $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240626__20240626__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OneThreeOneFourOneNotesBPLLCMember_zJofWfJ6zfUj" title="Purchase price">2,761,000</span> using equity. The members of 13141 BP were also shareholders of the Company prior to the purchase. Under the terms of the purchase agreement, the Company issued <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240626__20240626__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OneThreeOneFourOneNotesBPLLCMember_zg7NI9hxGYC5" title="Number of common stock issued">276,100</span> shares of Class D common stock. The Company owns <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20240626__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OneThreeOneFourOneNotesBPLLCMember_z2h5OrgPMeAa" title="Majority owned rate">100</span>% of this subsidiary and <span id="xdx_904_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20240626__20240626__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OneThreeOneFourOneNotesBPLLCMember_zxhzjPJxkLw8" title="Voting interest rate">100</span>% of its voting control and consolidates it into its financials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 8 – RELATED PARTY TRANSACTIONS (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zMlxDqCvGxd5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the acquisition method of accounting, the total fair value of consideration transferred was allocated as follows as of June 26, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zRxFqfITYbo6">SCHEDULE OF FAIR VALUE OF ASSETS ACQUIRED</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 50%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Consideration</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_495_20240626__us-gaap--BusinessAcquisitionAxis__custom--OneThreeOneFourOneNotesBPLLCMember_zO9k3yBZe373" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%">Issuance of shares</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable_c20240626__20240626__us-gaap--BusinessAcquisitionAxis__custom--OneThreeOneFourOneNotesBPLLCMember_zB9oYLUwznHj" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Issuance of shares">2,761,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Fair value of consideration</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98F_eus-gaap--BusinessCombinationConsiderationTransferred1_c20240626__20240626__us-gaap--BusinessAcquisitionAxis__custom--OneThreeOneFourOneNotesBPLLCMember_zgGzn5lM5HSj" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Fair value of consideration">2,761,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsAbstract_iB_zVqkTt6P6uDh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Assets acquired and liabilities assumed</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_z80XJLGRAwfe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Cash</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">74,085</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_zeAMe6F1S1Pc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Fixed Assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,519,435</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCapitalLeaseObligation_iI_zvTHfgvxqJoi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Lease receivable</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">191,028</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedAndOtherCurrentLiabilities_iI_z9zAucwVgv1d" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accrued and other current liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(23,548</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_z4Iir7knNzPj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Net assets acquired</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">2,761,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zF9mx7UCND24" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13141 BP sold the land and building to a 3^rd party on July 18, 2025, at which time the Company determined the disposed component does not meet discontinued-operations criteria, its financial impacts are reported within the normal results of continuing operations (and not segregated below income from continuing ops). The Company’s restaurant operating entity at this location, Notes Eatery, closed as of July 18, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2025, the Company entered into several lease, debt and equity transactions with a related party, who is a significant shareholder of the Company. These include a ground lease agreement (refer to Note 5 – Leases for further details), convertible debt agreements (refer to Note 9 – Debt for further details), and issuance of shares of Common Stock (refer to Note 10 – Equity for further details).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"></span></p> 526166 0.012 130000 130000 237500 107500 526166 5261.66 1 2761000 276100 1 1 <p id="xdx_89A_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zMlxDqCvGxd5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the acquisition method of accounting, the total fair value of consideration transferred was allocated as follows as of June 26, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zRxFqfITYbo6">SCHEDULE OF FAIR VALUE OF ASSETS ACQUIRED</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 50%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Consideration</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_495_20240626__us-gaap--BusinessAcquisitionAxis__custom--OneThreeOneFourOneNotesBPLLCMember_zO9k3yBZe373" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%">Issuance of shares</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable_c20240626__20240626__us-gaap--BusinessAcquisitionAxis__custom--OneThreeOneFourOneNotesBPLLCMember_zB9oYLUwznHj" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Issuance of shares">2,761,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Fair value of consideration</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98F_eus-gaap--BusinessCombinationConsiderationTransferred1_c20240626__20240626__us-gaap--BusinessAcquisitionAxis__custom--OneThreeOneFourOneNotesBPLLCMember_zgGzn5lM5HSj" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Fair value of consideration">2,761,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsAbstract_iB_zVqkTt6P6uDh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Assets acquired and liabilities assumed</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_z80XJLGRAwfe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Cash</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">74,085</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_zeAMe6F1S1Pc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Fixed Assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,519,435</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCapitalLeaseObligation_iI_zvTHfgvxqJoi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Lease receivable</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">191,028</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedAndOtherCurrentLiabilities_iI_z9zAucwVgv1d" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accrued and other current liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(23,548</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_z4Iir7knNzPj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Net assets acquired</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">2,761,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> 2761000 2761000 74085 2519435 191028 -23548 2761000 <p id="xdx_801_eus-gaap--DebtDisclosureTextBlock_zL4IthamRaW5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 9 – <span id="xdx_825_zMuU7NYQMC0d">DEBT</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>SBA Economic Injury Disaster Loan </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 4, 2020, the Company executed the standard loan documents required for securing a loan (the “EIDL Loan”) from the SBA under its Economic Injury Disaster Loan (“EIDL”) assistance program in light of the impact of the COVID-19 pandemic on the Company’s business. Pursuant to the loan agreement, the principal amount of the EIDL Loan is $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20200504__us-gaap--DebtInstrumentAxis__custom--EconomicInjuryDisasterLoanMember_zgjkQBs7jQGb" title="Principal amount">500,000</span>, with proceeds to be used for working capital purposes. Interest accrues at the rate of <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20200504__us-gaap--DebtInstrumentAxis__custom--EconomicInjuryDisasterLoanMember_zyWbFRFcBKna" title="Interest rate">3.75</span>% per annum. Monthly payments of interest only in the amount of $<span id="xdx_90C_eus-gaap--DebtInstrumentPeriodicPaymentInterest_c20200504__20200504__us-gaap--DebtInstrumentAxis__custom--EconomicInjuryDisasterLoanMember_zQy4Mb9C284d" title="Monthly interest payments">2,437</span> were to originally commence on May 4, 2021; however, this repayment commencement date was extended by the SBA for 24 months. The EIDL Loan matures <span id="xdx_909_eus-gaap--DebtInstrumentTerm_dtY_c20200504__20200504__us-gaap--DebtInstrumentAxis__custom--EconomicInjuryDisasterLoanMember_zrJLbcmNI29l" title="Maturity term">30</span> years from the date of the note agreement, at which time all remaining unpaid principal and interest are due. JW Roth, CEO and Chairman, personally guarantees this loan agreement. As of December 31, 2025 and 2024, the principal balance of $<span id="xdx_90F_eus-gaap--LoansPayable_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--EconomicInjuryDisasterLoanMember_zqKWs1E7qrdc" title="Loans payable"><span id="xdx_901_eus-gaap--LoansPayable_iI_c20241231__us-gaap--DebtInstrumentAxis__custom--EconomicInjuryDisasterLoanMember_zrjCBhDfj3Nj" title="Loans payable">500,000</span></span> remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bank Loans and Promissory Notes</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 1, 2022, when the Company purchased the majority of equity interests of HIA. In this transaction, the Company became a guarantor of HIA’s mortgage on the properties used in BBST and BBP operations. The mortgage accrues interest at <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20220401__dei--LegalEntityAxis__custom--HospitalityIncomeAssetLLCMember_zDBxaUbjZlmf" title="Accrued interest rate">5.5</span>% and matures on <span id="xdx_90F_eus-gaap--LongTermDebtMaturityDate_iI_dd_c20220401__dei--LegalEntityAxis__custom--HospitalityIncomeAssetLLCMember_zh2WcDfSLAvi" title="Maturity date">July 10, 2031</span>. The outstanding balance as of December 31, 2025 and 2024 was $<span id="xdx_905_eus-gaap--LongTermDebt_iI_c20251231__dei--LegalEntityAxis__custom--HospitalityIncomeAssetLLCMember_z8RNPcbCxQdl" title="Long term bank debt">3,064,903</span> and $<span id="xdx_904_eus-gaap--LongTermDebt_iI_c20241231__dei--LegalEntityAxis__custom--HospitalityIncomeAssetLLCMember_z1VQt7rUuC38" title="Long term bank debt">3,239,543</span>, respectively. This mortgage is collateralized by the BBSTCO and BBP land and buildings. This mortgage is personally guaranteed by JW Roth.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 9 – DEBT (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 21, 2022, the Company closed on a deed of land with the City of Murfreesboro, Tennessee, for the Company to develop a Bourbon Brothers Smokehouse and Tavern, Boot Barn Hall and an amphitheater on <span id="xdx_902_eus-gaap--AreaOfLand_iI_uAcre_c20221221__dei--LegalEntityAxis__custom--HospitalityIncomeAssetLLCMember__srt--StatementGeographicalAxis__custom--MurfreesboroTennesseeMember_zj3LvjacMG86" title="Area of land">20.13</span> acres parcel for $<span id="xdx_902_eus-gaap--NotesPayable_iI_c20221221__dei--LegalEntityAxis__custom--HospitalityIncomeAssetLLCMember__srt--StatementGeographicalAxis__custom--MurfreesboroTennesseeMember_z19DlyRHCwb8" title="Promissory note">3,267,000</span>. On August 26, 2024 the Company and the City of Murfreesboro, TN agreed to discontinue the development project previously planned for <span id="xdx_90E_eus-gaap--AreaOfLand_iI_uAcre_c20240826__dei--LegalEntityAxis__custom--HospitalityIncomeAssetLLCMember__srt--StatementGeographicalAxis__custom--MurfreesboroTennesseeMember_z6DGlijz9zh9" title="Area of land">20.13</span> acres as originally conceived. The City sold the undeveloped property to Venu subject to reconveyance and other termination provisions if the project was discontinued. The City and Venu proceeded with reconveyance of the property and the City terminated the promissory note of $<span id="xdx_90A_eus-gaap--NotesPayable_iI_c20240826__dei--LegalEntityAxis__custom--HospitalityIncomeAssetLLCMember__srt--StatementGeographicalAxis__custom--MurfreesboroTennesseeMember_zcqdMfajOoKj" title="Promissory note">3,267,000</span>. The outstanding balance as of December 31, 2025 and 2024 was $<span id="xdx_90E_eus-gaap--LongTermDebt_iI_c20251231__dei--LegalEntityAxis__custom--BourbonBrothersSmokehouseAndTavernMember__srt--StatementGeographicalAxis__custom--MurfreesboroTennesseeMember_zj4EKdhS9sY3" title="Long term bank debt">0</span> and $<span id="xdx_90C_eus-gaap--LongTermDebt_iI_c20241231__dei--LegalEntityAxis__custom--BourbonBrothersSmokehouseAndTavernMember__srt--StatementGeographicalAxis__custom--MurfreesboroTennesseeMember_zPgejhB75tt7" title="Long term bank debt">0</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 26, 2022, GAHIA took on a mortgage for the properties used in the BBSTGA and BBPGA operations, with the Company as a guarantor to the mortgage. GAHIA began to draw on this mortgage in early 2023 with the final mortgage amount in place in June 2023. The mortgage accrues interest at <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20220526__dei--LegalEntityAxis__custom--GaHiaLlcMember_z3rMKQfDsq12" title="Interest rate">3.95</span>% and matures on <span id="xdx_90A_eus-gaap--LongTermDebtMaturityDate_iI_dd_c20220526__dei--LegalEntityAxis__custom--GaHiaLlcMember_zzcaVVIil3C5" title="Maturity date">May 26, 2043</span>. The outstanding balance as of December 31, 2025 and 2024 was $<span id="xdx_909_eus-gaap--LongTermDebt_iI_c20251231__dei--LegalEntityAxis__custom--GaHiaLlcMember_z9ek6gBlKRqa" title="Long term bank debt">4,037,281</span> and $<span id="xdx_90B_eus-gaap--LongTermDebt_iI_c20241231__dei--LegalEntityAxis__custom--GaHiaLlcMember_z4YtK8XpbSR9" title="Long term bank debt">4,243,364</span>, respectively. This mortgage is collateralized by the BBSTGA and BBPGA land and buildings. This mortgage is personally guaranteed by JW Roth.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 30, 2024, the Company executed a term sheet with the City of El Paso, Texas, and then later in June 2024 and July 2024 entered into a <span style="background-color: white">Chapter 380 Economic Development Program Agreement (the “Chapter 380 Agreement”), a Purchase and Sale Agreement, and related transaction documents (collectively, the “Definitive El Paso Agreements”). </span>On May 13, 2025, the Company (through a wholly owned subsidiary) acquired an approximately 20-acre tract of land where it will develop The Sunset Amphitheater in El Paso, Texas pursuant to the <span style="background-color: white">Definitive El Paso Agreements. </span>Under the Definitive El Paso Agreements the City of El Paso provided various incentives to the Company related to the development of The Sunset El Paso including contributing cash towards Venu’s development costs by issuing an eight-year, no-interest, forgivable loan to Venu (the “El Paso Loan”) in the principal amount of $<span id="xdx_901_eus-gaap--DebtInstrumentIssuedPrincipal_c20240430__20240430__us-gaap--DebtInstrumentAxis__custom--ElPasoLoanMember_zGHhgL7tY0N7" title="Debt instrument principal amount">8,000,000</span> funded by the Texas Economic Development Fund. If the Company completes construction of The Sunset El Paso within <span id="xdx_905_eus-gaap--DebtInstrumentTerm_dtM_c20240430__20240430_zHb3GNvyflIh" title="Debt instrument term">36</span> months from the date Venu receives all government authorizations required to develop and construct the amphitheater (such process, “Entitlement”) and hosts a minimum of 25 events per year at The Sunset El Paso in years 3-5 of the rebate period, the El Paso Loan will be forgiven.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 14, 2025 (the “Closing Date”), the Company closed on its purchase of an approximately 46-acre tract of land (the “McKinney Tract”) where it will develop the Sunset Amphitheater in McKinney, Texas, pursuant to the Chapter 380, Grant, and Development Agreement (the “McKinney Agreement”) that the Company previously entered into with the City of McKinney, Texas, the McKinney Economic Development Corporation (“MEDC”), and the McKinney Community Development Corporation on April 16, 2024, which was amended on October 15, 2024 and December 3, 2024. MEDC agreed to sell the McKinney Tract to the Company for an aggregate purchase price of $<span id="xdx_903_ecustom--PaymentsForRealEstate_c20250114__20250114_zTmj6BcvVCt6" title="Payments for real estate">35,000,000</span> (the “McKinney Purchase Price”), which was paid on the Closing Date in the form of $<span id="xdx_904_eus-gaap--PaymentsToAcquireRealEstate_c20250114__20250114_zJQh7OasAYyc" title="Payments to acquire real estate">10,000,000</span> in cash and $<span id="xdx_908_eus-gaap--NotesPayable_iI_c20250114__us-gaap--DebtInstrumentAxis__custom--MKinneyNotePromissoryMember_z9U5RLNsGpOf" title="Notes payable">25,000,000</span> represented by a secured promissory note to MEDC (the “McKinney Note”), which bears no interest, is subject to prepayment without penalty, is secured by a Deed of Trust conveying a first-priority lien on the McKinney Tract, and is personally guaranteed by JW Roth and a related-party shareholder of the Company (the “McKinney Guaranty”). If the Company receives a temporary certificate of occupancy or a certificate of occupancy by certain deadlines set forth in the McKinney Agreement, then MEDC will reimburse the Company for the McKinney Purchase Price, and the Company and the guarantors will be released from their respective obligations under the McKinney Note, the McKinney Deed of Trust, and the McKinney Guaranty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 9 – DEBT (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 27, 2025, for the purpose of funding the completion of a development adjacent to the Ford Amphitheater, the Company entered into Credit Agreement with Pueblo Bank &amp; Trust, as lender (the “Lender”) for a draw down term loan (the “Construction Loan”). The Construction Loan accrues interest at <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20250527__dei--LegalEntityAxis__custom--PuebloBankTrustMember_zMdHKqAoiWv6" title="Debt instrument interest rate stated, percentage">8.50</span>% and has a term of <span id="xdx_90E_eus-gaap--DebtInstrumentTerm_dc_c20250527__20250527__dei--LegalEntityAxis__custom--PuebloBankTrustMember_zEwQWYGDcnGc" title="Debt instrument term">seventy months</span>, maturing on <span id="xdx_906_eus-gaap--LongTermDebtMaturityDate_iI_uPure_c20250527__dei--LegalEntityAxis__custom--PuebloBankTrustMember_zLH2liCgfUba" title="Long term debt maturity date">March 27, 2031</span> (the “Maturity Date”). Beginning on the closing date, and continuing until no later than May 27, 2026 (the “Draw Period”), assuming that there has not been an “Event of Default” (as defined in the Credit Agreement) and that the Company has complied with all requirements under the documents and agreements governing the Construction Loan, the Company may from time-to-time request advances under the Construction Loan not to exceed an aggregate amount of $<span id="xdx_90C_eus-gaap--ConstructionLoan_iI_pn6n6_c20250527__dei--LegalEntityAxis__custom--PuebloBankTrustMember_zq9mqspuVaxk" title="Construction loan">6</span> million. Subject to the terms and conditions of the Credit Agreement, on the Conversion Date the draw down term loan will convert to an amortizing loan. The term of the amortizing loan is <span id="xdx_909_ecustom--AmortizingLoanTerm_dtM_c20250527__20250527__dei--LegalEntityAxis__custom--PuebloBankTrustMember_zsTliKRSmh06" title="Amortizing loan term">59</span> months from the Conversion Date and the amortization loan will bear interest at the Note Rate per annum, defined as the WSJ Prime Rate plus 25 basis points determined on the Conversion Date. Monthly payments of principal and interest are due under the amortizing loan and will be calculated by amortizing the principal amount of the amortizing loan over 240 months. Obligations under the Construction Loan are secured under, and by, a deed of trust, various assets of the Company pledged pursuant to a security agreement, together with an assignment of leases and rents, and personal guaranties extended by certain Company affiliates. The outstanding balance as of December 31, 2025 and 2024 was $<span id="xdx_90C_eus-gaap--LongTermDebt_iI_c20251231__dei--LegalEntityAxis__custom--HospitalityIncomeAssetLLCMember__srt--StatementGeographicalAxis__custom--MurfreesboroTennesseeMember_zgifjueGTb75" title="Long term bank debt">5,937,119</span> and $<span id="xdx_901_eus-gaap--LongTermDebt_iI_c20241231__dei--LegalEntityAxis__custom--HospitalityIncomeAssetLLCMember__srt--StatementGeographicalAxis__custom--MurfreesboroTennesseeMember_z95JakPNugt9" title="Long term bank debt">0</span>, respectively. This mortgage is collateralized by the SHC land and buildings. This mortgage is personally guaranteed by JW Roth.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Artist 280 purchased an aircraft to support the Company’s current and prospective corporate growth initiatives and development projects around the country. Effective September 26, 2025, Artist 280 borrowed $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20250926__dei--LegalEntityAxis__custom--PNCBankMember_zRV8Oi7URRz4" title="Loan">12,000,000</span> million (the “Loan”) from PNC Bank, National Association (the “Lender”). The Loan is evidenced by a promissory note (the “Note”) delivered by Artist 280 in favor of the Lender. The term of the Loan is <span id="xdx_900_eus-gaap--DebtInstrumentTerm_dtM_uPure_c20250926__20250926__dei--LegalEntityAxis__custom--PNCBankMember_z9YKijDId5e" title="Maturity term">60</span> months from October 1, 2025, and the Loan bears interest at <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20250926__dei--LegalEntityAxis__custom--PNCBankMember_z5iyV9qXuhCk" title="Interest rate">6.01</span>% per annum. Monthly payments of principal and interest are due under the Note and will be calculated by amortizing the principal amount of the Note over 240 months. The outstanding balance as of December 31, 2025 was $<span id="xdx_90C_eus-gaap--InvestmentOwnedBalancePrincipalAmount_iI_c20251231__dei--LegalEntityAxis__custom--PNCBankMember_zE9FPKmgCkza" title="Principal amount">11,928,956</span>. The Loan is personally guaranteed by JW Roth up $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_c20241231__dei--LegalEntityAxis__custom--JWRothMember_zmp262V5uMz1" title="Loan">4,500,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Convertible debt</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company issued a $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_c20250228__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember_zJdj4NVzUQAl" title="Debt instrument face amount">6,000,000</span> principal amount convertible promissory note on February 28, 2025, with a maturity date three years from the date of issuance. The interest rate is <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20250228__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember_zWPYHClhC0k6" title="Debt instrument interest rate effective, percentage">12</span>% per annum and paid quarterly in cash or shares of Venu’s common stock at the conversion price. <span id="xdx_900_eus-gaap--DebtConversionDescription_c20250228__20250228__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember_zMweyPtqQBf4" title="Debt conversion, description">The conversion price is defined as 100% of the average daily closing sale price of the Company’s common stock during the 10 consecutive trading days immediately prior to the applicable payment date.</span> The lender was also issued a warrant that is exercisable to acquire <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250228__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember_zf9dS9XLCGS2" title="Warrant issued">300,000</span> shares of Company common stock at an exercise price of $<span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250228__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zYt31t4gQ923" title="Warrant issued price per share">12.50</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 4, 2025, the Company issued two convertible promissory notes having an aggregate principal amount of $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pid_c20250404__us-gaap--DebtInstrumentAxis__custom--TwoConvertiblePromissoryNotesMember_zXjtFDTpmHk9" title="Debt instrument face amount">6,000,000</span> in total principal amount convertible promissory note, with a maturity date <span id="xdx_900_eus-gaap--DebtInstrumentTerm_pid_dc_c20250404__20250404__us-gaap--DebtInstrumentAxis__custom--TwoConvertiblePromissoryNotesMember_zGpfbhst5oX3" title="Maturity term">three years</span> from the date of issuance. The interest rate is <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_c20250404__20250404__us-gaap--DebtInstrumentAxis__custom--TwoConvertiblePromissoryNotesMember_zFN07uT0s6B1" title="Interest rate">12</span>% per annum and paid quarterly in cash or shares of Venu’s common stock at the conversion price. <span id="xdx_90E_eus-gaap--DebtConversionDescription_c20250404__20250404__us-gaap--DebtInstrumentAxis__custom--TwoConvertiblePromissoryNotesMember_zkOtvlaSZchj" title="Description of conversion price">The conversion price is defined as 100% of the average daily closing sale price of the Company’s common stock during the 10 consecutive trading days immediately prior to the applicable payment date.</span> The lenders were issued warrants that, in the aggregate, are exercisable to acquire <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250404__us-gaap--DebtInstrumentAxis__custom--TwoConvertiblePromissoryNotesMember_zHQpnvLti525" title="Warrants issued">300,000</span> shares of Company common stock at an exercise price of $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250404__us-gaap--DebtInstrumentAxis__custom--TwoConvertiblePromissoryNotesMember_zLibInjMHfk6" title="Exercise price">12.50</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 6, 2025, the Company issued two convertible promissory notes having an aggregate principal amount of $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_pid_c20250506__us-gaap--DebtInstrumentAxis__custom--TwoConvertiblePromissoryNotesMember_zIeRuBNDtFUh" title="Principal amount">6,000,000</span> in total principal amount convertible promissory note, with a maturity date <span id="xdx_905_eus-gaap--DebtInstrumentTerm_pid_dc_c20250506__20250506__us-gaap--DebtInstrumentAxis__custom--TwoConvertiblePromissoryNotesMember_zEKC9aJSpXRh" title="Debt instrument term">three years</span> from the date of issuance. The interest rate is <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20250506__20250506__us-gaap--DebtInstrumentAxis__custom--TwoConvertiblePromissoryNotesMember_zB8SilEXFsIe" title="Debt instrument interest rate">12</span>% per annum and paid quarterly in cash or shares of Venu’s common stock at the conversion price. <span id="xdx_909_eus-gaap--DebtConversionDescription_c20250506__20250506__us-gaap--DebtInstrumentAxis__custom--TwoConvertiblePromissoryNotesMember_zqp0ey0BfCr1" title="Debt conversion description">The conversion price is defined as 100% of the average daily closing sale price of the Company’s common stock during the 10 consecutive trading days immediately prior to the applicable payment date.</span> The lenders were issued warrants that, in the aggregate, could acquire <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250506__us-gaap--DebtInstrumentAxis__custom--TwoConvertiblePromissoryNotesMember_zMrZpUAfWLog" title="Warrant issued">300,000</span> shares of Company common stock at an exercise price of $<span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250506__us-gaap--DebtInstrumentAxis__custom--TwoConvertiblePromissoryNotesMember_zHFakZ5mDI1c" title="Exercise price">12.50</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 9 – DEBT (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 22, 2025, the Company issued <span id="xdx_908_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20250622__20250622__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember_zNGWTbLuRbbh" title="Shares issued for debt conversion">1,542,367</span> shares of Common Stock in full satisfaction of $<span id="xdx_907_eus-gaap--DebtConversionOriginalDebtAmount1_c20250622__20250622__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember_z6jdUIKnFEZa" title="Debt conversion original debt amount">15,000,000</span> principal and $<span id="xdx_90C_ecustom--DebtConversionAccruedInterest_c20250622__20250622__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember_zrldO4crV8Uc" title="Accrued interest">423,667</span> accrued interest, representing a conversion price of $<span id="xdx_90C_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20250622__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember_zDt9AgTasZg2" title="conversion price">10</span> per common share, due under certain convertible promissory notes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 22, 2025, the Company issued <span id="xdx_90B_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20250722__20250722__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember_zTcxgofM4Lsd" title="Shares issued for debt conversion">103,667</span> shares of Common Stock upon conversion of a secured promissory note to satisfy <span id="xdx_901_ecustom--PercentageOfOutstandingShares_pid_dp_uPure_c20250722__20250722__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember_zymOF7A3Q20b" title="Percentage of outstanding shares">50</span>% of the outstanding obligations owed thereunder.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_zLxjMlnsPic3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total debt consists of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B1_zwNr6JVAvf1c" style="display: none">SCHEDULE OF DEBT</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; border-collapse: collapse; width: 90%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_490_20251231_zGlOn34V5tTg" style="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20241231_zRV0gAfAEUJa" style="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_404_ecustom--EconomicInjuryDisasterLoan_iI_maOLTDCz3N3_zwGevUNiFbM8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">SBA Economic Injury Disaster Loan</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">500,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">500,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--BankLoanAndPromissoryNotes_iI_maOLTDCz3N3_zPea2aHjhl9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Bank loans and promissory notes</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">56,468,259</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">15,701,718</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ConvertibleDebt_iI_maOLTDCz3N3_zFyuM6eULEOk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Long-term convertible debt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,907,530</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">9,433,313</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherLongTermDebt_iTI_mtOLTDCz3N3_zKS6lmaCbTjc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total debt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">58,875,789</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">25,635,031</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--OtherLongTermDebtsCurrent_iI_zIhfHNonY2u2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: current maturities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">400,108</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">11,534,814</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--LongTermDebtsNoncurrent_iI_zvrHiVS2w6I2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Long-term debt, including convertible debt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">58,475,681</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">14,100,217</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8A4_ziODLfKEKWE" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_eus-gaap--ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_zoza9BNE6Gw" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following is the future maturities of total debt for the year ending December 31,</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; display: none; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B2_z49bXSRMrhsf" style="display: none">SCHEDULE OF FUTURE MATURITIES OF LONG TERM DEBT</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; border-collapse: collapse; width: 90%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; display: none"> </td> <td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: left"> </td><td id="xdx_495_20251231_zgvcVnhOElg1" style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maLTDzEyo_zdJvLoqT8247" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">2026</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">400,108</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_maLTDzEyo_zUaAxcPYipK7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2027</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">25,437,366</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_maLTDzEyo_zfhHvNoRj5j4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2028</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,504,609</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_maLTDzEyo_zD221utdSWj3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2029</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">558,696</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_maLTDzEyo_z3Iobtzq7ZG2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2030</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,723,123</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour_iI_maLTDzEyo_zGVNrW20bW56" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Thereafter</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">19,251,887</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebt_iTI_mtLTDzEyo_zFcJWIPxkvwh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total debt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">58,875,789</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zepAq91IRGkf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 500000 0.0375 2437 P30Y 500000 500000 0.055 2031-07-10 3064903 3239543 20.13 3267000 20.13 3267000 0 0 0.0395 2043-05-26 4037281 4243364 8000000 P36M 35000000 10000000 25000000 0.0850 P70M 2031-03-27 6000000 P59M 5937119 0 12000000 P60M 0.0601 11928956 4500000 6000000 0.12 The conversion price is defined as 100% of the average daily closing sale price of the Company’s common stock during the 10 consecutive trading days immediately prior to the applicable payment date. 300000 12.50 6000000 P3Y 0.12 The conversion price is defined as 100% of the average daily closing sale price of the Company’s common stock during the 10 consecutive trading days immediately prior to the applicable payment date. 300000 12.50 6000000 P3Y 0.12 The conversion price is defined as 100% of the average daily closing sale price of the Company’s common stock during the 10 consecutive trading days immediately prior to the applicable payment date. 300000 12.50 1542367 15000000 423667 10 103667 0.50 <p id="xdx_89A_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_zLxjMlnsPic3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total debt consists of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B1_zwNr6JVAvf1c" style="display: none">SCHEDULE OF DEBT</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; border-collapse: collapse; width: 90%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_490_20251231_zGlOn34V5tTg" style="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20241231_zRV0gAfAEUJa" style="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_404_ecustom--EconomicInjuryDisasterLoan_iI_maOLTDCz3N3_zwGevUNiFbM8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">SBA Economic Injury Disaster Loan</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">500,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">500,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--BankLoanAndPromissoryNotes_iI_maOLTDCz3N3_zPea2aHjhl9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Bank loans and promissory notes</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">56,468,259</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">15,701,718</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ConvertibleDebt_iI_maOLTDCz3N3_zFyuM6eULEOk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Long-term convertible debt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,907,530</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">9,433,313</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherLongTermDebt_iTI_mtOLTDCz3N3_zKS6lmaCbTjc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total debt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">58,875,789</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">25,635,031</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--OtherLongTermDebtsCurrent_iI_zIhfHNonY2u2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: current maturities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">400,108</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">11,534,814</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--LongTermDebtsNoncurrent_iI_zvrHiVS2w6I2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Long-term debt, including convertible debt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">58,475,681</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">14,100,217</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> 500000 500000 56468259 15701718 1907530 9433313 58875789 25635031 400108 11534814 58475681 14100217 <p id="xdx_89D_eus-gaap--ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_zoza9BNE6Gw" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following is the future maturities of total debt for the year ending December 31,</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; display: none; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B2_z49bXSRMrhsf" style="display: none">SCHEDULE OF FUTURE MATURITIES OF LONG TERM DEBT</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; border-collapse: collapse; width: 90%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; display: none"> </td> <td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: left"> </td><td id="xdx_495_20251231_zgvcVnhOElg1" style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; display: none; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maLTDzEyo_zdJvLoqT8247" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">2026</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">400,108</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_maLTDzEyo_zUaAxcPYipK7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2027</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">25,437,366</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_maLTDzEyo_zfhHvNoRj5j4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2028</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,504,609</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_maLTDzEyo_zD221utdSWj3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2029</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">558,696</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_maLTDzEyo_z3Iobtzq7ZG2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2030</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,723,123</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour_iI_maLTDzEyo_zGVNrW20bW56" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Thereafter</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">19,251,887</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebt_iTI_mtLTDzEyo_zFcJWIPxkvwh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total debt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">58,875,789</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> 400108 25437366 2504609 558696 10723123 19251887 58875789 <p id="xdx_806_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zDbJDpShmF56" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 10 – <span id="xdx_822_zSlSb2exiDCi">EQUITY</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stockholders’ Equity</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 5, 2024, the Company and its Class C stockholders authorized a Class D of common stock up to <span id="xdx_905_eus-gaap--CommonStockSharesAuthorized_iI_c20240305__us-gaap--StatementClassOfStockAxis__custom--CommonClassDMember_zcZ610aDONGa" title="Common stock, shares authorized">60,000,000</span> shares. At that time, the Company allowed its Class B and Class C stockholders to exchange to Class D shares at a <span id="xdx_904_eus-gaap--CommonStockConversionBasis_c20240305__20240305__us-gaap--StatementClassOfStockAxis__custom--CommonClassDMember_zJEf7TlGgsB3" title="Conversion basis">1</span> to 1 basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 6, 2024, the Company amended and restated its articles of incorporation so that each share of then outstanding share of Class A Voting Common Stock, Class C Voting Common Stock, and Class D Voting Common Stock immediately and automatically converted into one (1) share of Common Stock. The amended and restated articles of incorporation provide that the authorized capital stock of the Company consists of <span id="xdx_90F_eus-gaap--CommonStockSharesAuthorized_iI_c20240906_zV4iP0ovkIt2" title="Common stock shares authorized">144,000,000</span> shares of Common Stock, <span id="xdx_90A_eus-gaap--CommonStockSharesAuthorized_iI_c20240906__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z4KKxZiY0Uwc" title="Common stock shares authorized">1,000,000</span> shares of Class B Non-Voting Common Stock and <span id="xdx_906_eus-gaap--PreferredStockSharesAuthorized_iI_c20240906_zGo2raS3TGw4" title="Preferred stock, shares authorized">5,000,000</span> shares of Preferred Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2024, the Company closed a private placement offering in which we sold <span id="xdx_909_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zPbmPOyRkgT4" title="Number of shares sold">3,300,341</span> shares of Common Stock and received gross proceeds of $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zhXHDRW5FDbg" title="Gross proceeds from offering">32,059,550</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 10 – EQUITY (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 26, 2024, the Company completed an initial public offering of <span id="xdx_907_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20241126__20241126__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zZ7LwPGMzQi4" title="Share issue">1,200,000</span> shares common stock at a public offering price of $<span id="xdx_90C_eus-gaap--SaleOfStockPricePerShare_iI_c20241126__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zZY1h5srqUP9" title="Share price">10.00</span> per share, generating gross proceeds of $<span id="xdx_903_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20241126__20241126__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zK0g0nlK1JW1" title="Gross proceeds from issue of share">12,000,000</span>. The Company also granted the underwriters a 45-day option to purchase up to <span id="xdx_90F_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20241126__20241126__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zDK6BbIbk9va" title="Additional number of share">180,000</span> additional shares of common stock on the same terms and conditions for the purpose of covering any over-allotments in connection with the Offering, which the underwriters exercised on November 29, 2024. The closing of the offering took place on November 29, 2024. The Company received net proceeds of approximately $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20241129__20241129__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z4BiAmTZSSTd" title="Net proceeds from public offering">12,300,000</span> from the offering, after deducting underwriting discounts and commissions and other offering expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 3, 2025, the Company issued <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20250103__20250103_zOv7UmCQ7ak6" title="Common stock share issued">10,000</span> shares of Common Stock to a services firm at a price of $<span id="xdx_90B_eus-gaap--SharesIssuedPricePerShare_iI_c20250103_zD4YyH1oYPoh" title="Share issued, price per share">10</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In April 2025, the Company issued a consultant <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20250401__20250430__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zbHdkEFbxaUa" title="Number of shares issued services">10,000</span> shares of our Common Stock in consideration for services rendered to the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May 2025, the Company issued a consultant <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20250501__20250531__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zePN5ZTH0Bsb" title="Number of shares issued services">10,000</span> shares of our Common Stock in consideration for services rendered to the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 3, 2025, the Company issued <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250603__20250603__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zD11dH8oNd2k" title="Shares issued for conversion of notes">1,007,292</span> shares of Common Stock to KWO in full satisfaction of the Note originally issued to KWO in January 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 16, 2025, the Company issued <span id="xdx_907_eus-gaap--PreferredStockSharesIssued_iI_c20250616__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zgrvA38JPP6l" title="Preferred stock, shares issued">675</span> shares of Series B <span id="xdx_909_eus-gaap--PreferredStockDividendRatePercentage_pid_dp_uPure_c20250616__20250616__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z50D6OwBv1Ih" title="Preferred stock, percentage">4.0</span>% Cumulative Redeemable Convertible Preferred Stock (Series B Preferred Stock) to Aramark Sports and Entertainment Services, LLC, with an aggregate purchase amount of $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_pn3n6_c20250616__20250616__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zCtwWVEkEK2a" title="Shares aggregate purchase amount">10.125</span> million. Each share of Series B Preferred Stock is convertible into <span id="xdx_902_eus-gaap--PreferredStockConvertibleSharesIssuable_iI_pid_c20250616__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zpF3YLNNMed1" title="Common stock issuable upon conversion">1,000</span> shares of Common Stock. The shares of Series B Preferred Stock do not afford the holder voting rights other than as required by law, and each share of Series B Preferred Stock entitles the holder to receive an annual cumulative, non-compounding dividend at an annual rate of <span id="xdx_903_eus-gaap--PreferredStockDividendRatePercentage_pid_dp_uPure_c20250616__20250616__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zP8jFwrQ0f1g" title="Preferred stock, percentage">4</span>% of the Stated Value (being equal to $<span id="xdx_900_eus-gaap--DividendsPayableAmountPerShare_iI_pid_c20250616__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zgKGfIRP5gGf" title="Dividend amount per share">600</span> per share of Series B Preferred Stock) (the “Series B Dividends”), payable in either cash or shares of the Company’s common stock. The Series B Dividends accrue, without interest and on a cumulative basis, during two semi-annual dividend periods beginning on the first day of each January and July, respectively. The Series B Dividends are payable semi-annually in arrears on January 15th and July 15th of each year. The Series B Dividends began accruing on June 16, 2025, and is prorated on the basis of a 360-day year consisting of twelve 30-day months. Only holders of Series B Preferred Stock as of the first day of the month in which a dividend is due to be paid (or another date to be no more than 30 days nor less than 10 days prior to the date of the dividend payment, as determined by the Company’s board of directors or a duly authorized officer) are eligible to receive a Series B Dividend for the applicable period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 22, 2025, the Company issued <span id="xdx_908_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20250622__20250622__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember_zhZzwDYp1uOg" title="Shares issued for debt conversion">1,542,367</span> shares of Common Stock in full satisfaction of all principal and accrued interest due under certain convertible promissory notes as discussed in Note 9.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 22, 2025, the Company issued <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesConversionOfUnits_c20250722__20250722__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zDE0Q8G2tFp1" title="Conversion of shares">103,667</span> shares of Common Stock in satisfaction of <span id="xdx_901_ecustom--PercentageOfOutstandingShares_pid_dp_uPure_c20250722__20250722_zxUV5093pej4" title="Percentage of outstanding shares">50</span>% of the principal and accrued interest due under certain convertible promissory notes as discussed in Note 9.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 11, 2025, the Company filed a revocation with the Secretary of State of the State of Colorado to eliminate from its Articles of Incorporation all matters set forth in the Certificate of Designation, Preferences and Rights with respect to its Series A <span id="xdx_908_eus-gaap--PreferredStockDividendRatePercentage_pid_dp_uPure_c20250811__20250811__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zuz54CSdgdC" title="Preferred stock percentage">8.0</span>% Cumulative Redeemable Convertible Preferred Stock (the “Series A Preferred Stock”). <span id="xdx_908_eus-gaap--PreferredStockSharesIssued_iI_do_c20250811__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_z9AvA0Uu1dqc" title="Preferred stock, shares issued">No</span> shares of Series A Preferred Stock were issued, and shares of preferred stock previously designated as Series A Preferred Stock have reverted to being designated as authorized but unissued shares of preferred stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 28, 2025, the Company completed a public offering of <span id="xdx_909_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20250826__20250826__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z0t6O8r0u6S5" title="Sale of stock number of shares issued in transaction">2,875,000</span> shares common stock at a public offering price of $<span id="xdx_90D_eus-gaap--SaleOfStockPricePerShare_iI_c20250826__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z4yCKPlktwch" title="Offering price per share">12.00</span> per share, generating gross proceeds of $<span id="xdx_909_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20250826__20250826__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zhGObjVx0Ngi" title="Gross proceeds">34,500,000</span>. The Company also granted the underwriters a 45-day option to purchase up to <span id="xdx_90D_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20250827__20250827__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_ztBi1hSIY1l" title="Sale of stock, number of shares issued in transaction">375,000</span> additional shares of common stock on the same terms and conditions for the purpose of covering any over-allotments in connection with the Offering, which the underwriters exercised on August 27, 2025. The Company received net proceeds of approximately $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20250828__20250828__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zPx8pXrxvT7l" title="Net proceeds from public offering">32,000,000</span> from the offering, after deducting underwriting discounts and commissions and other offering expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 10 – EQUITY (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 3, 2025, the Company entered into a Subscription Agreement with Tixr, Inc. and completed a private offering of <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20250903__20250903__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zUmMAeQmAbAl" title="Number of shares sold">62,500</span> shares common stock at a price of $<span id="xdx_908_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20250903_zncIxPC7crO4" title="Shares purchase price per share">16.00</span> per share, generating gross proceeds of $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pid_c20250903__20250903__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zhI0InheVf16" title="Gross proceeds from offering">1,000,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 22, 2025 (“Effective Date”), the Company entered into an Ambassador Agreement with a third party for the purpose of increasing awareness of the Company. The term of the agreement is three years and requires cash payments to the brand ambassador, being a payment at the time of the signing of the agreement, and then on-going payments at defined intervals. During the term of the agreement, the Company will also issue shares of common stock to the ambassador on the 91^st day after the effective date of the agreement and every 91 days thereafter. The number of such shares of common stock to be issued on each grant date during the term will equal a value of $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20250922__20250922__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z3Zhsad8GYI9" title="Net proceeds">125,000</span>, such value to be determined based on the Volume Weighted Average Price per share during the preceding twenty days during which the NYSE American was open. For the year ended December 31, 2025, the Company made cash payments totaling $<span id="xdx_90E_ecustom--CashPaymentsForLegal_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--AmbassadorAgreementMember_zBfNaNjGjHc8" title="Cash payments">125,000</span> and issued <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesOther_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--AmbassadorAgreementMember_zNcAUw1j9Z64" title="Common stock share issued">13,222</span> shares of Common Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In regards to the Company’s treasury shares, the Company has <span id="xdx_90F_eus-gaap--TreasuryStockCommonShares_iI_c20250922_zZV8oVrvIem3" title="Treasury stock, shares">76,245</span> shares of treasury stock that it acquired through the acquisition of HIA. In addition, on August 12, 2024, the Company purchased <span id="xdx_900_eus-gaap--TreasuryStockSharesAcquired_c20240812__20240812__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_z3i2cA5roAH4" title="Treasury shares purchased">100,000</span> shares back from Roth Industries, a related party, at $<span id="xdx_907_eus-gaap--SharePrice_iI_c20240812__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothIndustriesLLCMember_zBIq05Khi5Zb" title="Share price">5</span> per share. On January 22, 2024, the Company and Live Nation entered into an Exclusive Operating Agreement, pursuant to which Live Nation intended to serve as the exclusive operator of The Sunset BA. Although the parties pursued their working partnership, in August 2024, the Company and Live Nation terminated the Exclusive Operating Agreement due to the Company determining that it is unable to construct the number of parking spaces originally contemplated by the Exclusive Operating Agreement. As part of this termination, Live Nation exercised its put right for the <span id="xdx_90B_eus-gaap--StockRepurchasedDuringPeriodShares_c20240926__20240926__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiveNationMember_zyV0vDZQGgR7" title="Number of shares repurchased">100,000</span> shares worth $<span id="xdx_90D_eus-gaap--StockRepurchasedDuringPeriodValue_c20240926__20240926__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiveNationMember_zGrIg2KcogSc" title="Value of shares repurchased">1,000,000</span> and the Company repurchased these shares from Live Nation as of September 26, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 27, 2025, the Company entered into a real estate purchase and sale agreement with a related party (“Purchaser”) to convey the land owned by PPP used for parking by Sunset Ops for a purchase price of $<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValuePurchaseOfAssets_c20251027__20251027_z94TlMfwFcLb" title="Number of common stock">14,000,000</span>. The Purchaser is wholly owned by a significant shareholder of the Company. The Company received $<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValuePurchaseOfAssets_c20251027__20251027__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zC0llcQfSidj" title="Number of common stock">7,600,000</span> in cash and <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesPurchaseOfAssets_c20251027__20251027__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zXw6UYMT9L19" title="Number of common stock">476,190</span> shares of its Common Stock, valued at $<span id="xdx_90A_ecustom--TotalValueOfAverageSalePriceAmount_c20251027__20251027__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zsRvYfAfrNQc" title="Total value of average sale price amount">6,400,000</span> based on the average NYSE American Stock Exchange closing sale price over the seven trading days preceding November 5, 2025, resulting in a gain on sale of $<span id="xdx_907_ecustom--GainOnSale_c20251105__20251105_zH4ZuD1YA0a6" title="Gain on sale">6,608,315</span>. The Company also entered into a ground lease agreement on November 5, 2025 to concurrently lease the property back for a 20-year term (refer to Note 5 – Leases for further details regarding this lease). As of December 31, 2025 and 2024, the Company had repurchased a total of <span id="xdx_903_eus-gaap--TreasuryStockCommonShares_iI_c20251231_zmZukjCpD4i8" title="Treasury stock shares">752,435</span> and <span id="xdx_90E_eus-gaap--TreasuryStockCommonShares_iI_c20241231_zYSkLSezSN25" title="Treasury stock shares">276,245</span> treasury shares, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 24, 2025, a total of <span id="xdx_90A_ecustom--StockIssuedDuringPeriodSharesNumberOfCommonShareExchange_c20251001__20251024__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zM0WsynjbU2" title="Number of common share exchange">75,000</span> shares of Class B Non-Voting Common Stock were exchanged for <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesConversionOfUnits_c20251001__20251024__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zjnsoNTXeP8j" title="Conversion of shares">75,000</span> shares of Common Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 28, 2025, the Company’s shareholders approved an amendment to the 2023 Plan to increase the number of shares of the Company’s common stock from <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesConversionOfUnits_c20251028__20251028__us-gaap--PlanNameAxis__custom--OmnibusIncentiveCompensationPlanMember_z6fl2JBoxOF7" title="Conversion of shares">2,500,000</span> shares of common stock to <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesConversionOfUnits_c20251028__20251028__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--PlanNameAxis__custom--OmnibusIncentiveCompensationPlanMember_zUEBC7CAPMv3" title="Conversion of shares">7,500,000</span> shares of common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 6, 2025 (“Effective Date”), the Company entered into a Partner Agreement with a third party for the purpose of increasing awareness of the Company. The term of the Agreement is three years and requires cash payments to the brand ambassador, being a payment at the time of the signing of the agreement, and then on-going payments at defined intervals. During the term of the agreement, the Company will also issue shares of common stock to the ambassador on the 91st day after the effective date of the agreement and every 91 days thereafter. The number of shares of common stock to be issued on each grant date during the term will equal a value of $<span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20251106_zpfaghDnqsp3" title="Number of shares for grant">187,500</span>, such value to be determined based on the volume weighted average price per share during the preceding twenty days during which the NYSE American was open. For the year ended December 31, 2025, the Company made cash payments totaling $<span id="xdx_90B_ecustom--CashPaymentsForLegal_c20250101__20251231_zVjIIHeWM10f" title="Cash payments">125,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 10 – EQUITY (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 18, 2025, the Board of Directors authorized the repurchase of up to $<span id="xdx_908_esrt--StockRepurchaseProgramAuthorizedAmount1_iI_c20251118__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember_zWMnci0xmKQ2" title="Stock repurchase">10,000,000</span> of outstanding shares of Common Stock, par value $<span id="xdx_90A_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20251118__srt--ShareRepurchaseProgramAxis__custom--ShareRepurchaseProgramMember_zZknSG8Jsvrl" title="Common stock, par value">0.001</span> per share of the Company (the “Share Repurchase Program”). The Share Repurchase Program expires on December 31, 2026. Repurchases under the Share Repurchase Program may be made from time to time through open-market repurchases or through privately negotiated transactions subject to market conditions, applicable legal requirements, and other relevant factors. The Company is not obligated under the Share Repurchase Program to acquire any particular amount of Common Stock, and the Company may terminate or suspend the Share Repurchase Program at any time prior to its expiration. The timing and actual number of shares of Common Stock repurchased may depend on a variety of factors, including price, available liquidity, cash flows, general market conditions, and alternative opportunities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> 60000000 1 144000000 1000000 5000000 3300341 32059550 1200000 10.00 12000000 180000 12300000 10000 10 10000 10000 1007292 675 0.040 10125000 1000 0.04 600 1542367 103667 0.50 0.080 0 2875000 12.00 34500000 375000 32000000 62500 16.00 1000000 125000 125000 13222 76245 100000 5 100000 1000000 14000000 7600000 476190 6400000 6608315 752435 276245 75000 75000 2500000 7500000 187500 125000 10000000 0.001 <p id="xdx_800_eus-gaap--EarningsPerShareTextBlock_zjFiS0fW7PDl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 11 – <span id="xdx_82E_zjIeZkCDijYk">EARNINGS PER SHARE</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company computes basic and diluted net income (loss) per share in accordance with ASC 260, Earnings Per Share. Basic EPS is calculated by dividing net income (loss) available to common stockholders by the weighted-average number of common shares outstanding during the period. The Company applies the two-class method as it has multiple classes of equity including the Series B <span id="xdx_90B_eus-gaap--PreferredStockDividendRatePercentage_pid_dp_uPure_c20250616__20250616__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_ziLLEFgQGb9c" title="Dividend rate percentage">4</span>% Convertible Preferred Stock, issued on June 16, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Series B Preferred Stock is not a participating security and does not share in undistributed earnings beyond its fixed <span id="xdx_909_eus-gaap--PreferredStockDividendRatePercentage_pid_dp_uPure_c20250616__20250616__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z1IP5qsyBoQi" title="Dividend rate percentage">4</span>% cumulative dividend. Under the two-class method, income available to common shareholders is reduced by the cumulative preferred dividend, whether declared or not.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Series B Preferred is convertible at the option of the holder into <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesConversionOfUnits_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zlagS3QQaHC3" title="Number of shares conversion">1,000</span> shares of common stock per preferred share (plus accrued dividends), and is considered a potentially dilutive security. For the year ended December 31, 2025, the assumed conversion of the Series B Preferred Stock was anti-dilutive and excluded in the diluted EPS computation. As of December 31, 2025, the Series B Preferred Stock had dividends accrued of $<span id="xdx_908_eus-gaap--DividendsPreferredStockStock_c20250101__20251231_zJ9exwxqJuve" title="Accrued dividend">223,875</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zA0b5iANdHvl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the calculation of earnings per share, with no dividends declared yet, for the years ended December 31, 2025 and 2024, as presented in the accompanying Consolidated Statements of Operations:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B6_z5maPKbExGIa" style="display: none">SCHEDULE OF CALCULATION OF EARNINGS PER SHARE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="9" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Year Ended December 31, 2025</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class B</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Common</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Basic and diluted net loss per share of common stock</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%">Numerator:</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Allocation of net loss</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--NetIncomeLoss_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zWRlnWTTKIkk" title="Allocation of net loss">(397,334</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--NetIncomeLoss_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zucfHu7Akrzf" title="Allocation of net loss">(43,696,388</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less : Series B preferred dividend</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_ecustom--SeriesBPreferredDividend_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zKo2GqgebZe" title="Series B preferred dividend">(2,017</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_ecustom--SeriesBPreferredDividend_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zh1vU9LSyqve" title="Series B preferred dividend">(221,858</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Net loss attributable to common stock holders - basic</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_ecustom--NetIncomeLossAvailableToCommonStockholderBasic_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zlkefRVzRlb" title="Net loss attributable to common stock holders - basic">(399,351</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_ecustom--NetIncomeLossAvailableToCommonStockholderBasic_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zUexNmktxaYf" title="Net loss attributable to common stock holders - basic">(43,918,246</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Denominator:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Basic and diluted weighted average shares outstanding</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zGwwZz6lW8L4" title="Basic weighted average shares outstanding"><span id="xdx_90E_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zeXoSKZ8CRmb" title="Diluted weighted average shares outstanding">363,552</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zOyvG08t7er4" title="Basic weighted average shares outstanding"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z05V2SOSf1Tf" title="Diluted weighted average shares outstanding">39,981,214</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Basic and diluted net loss per share of common stock</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--EarningsPerShareBasic_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zNb23Wl1Q45l" title="Basic net loss per share of common stock"><span id="xdx_904_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_ztsfjzOH5rXa" title="Diluted net loss per share of common stock">(1.10</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--EarningsPerShareBasic_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zIXaXRUKb6B7" title="Basic net loss per share of common stock"><span id="xdx_903_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zs3CGPE2mow3" title="Diluted net loss per share of common stock">(1.10</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="17" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Year Ended December 31, 2024</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Class B</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Class C</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Class D</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Common</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Basic and diluted net loss per share of common stock</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Numerator:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 36%; text-align: left">Allocation of net loss</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_903_eus-gaap--NetIncomeLoss_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zLUwPA9ul7Kf" title="Allocation of net loss">(620,265</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_90A_eus-gaap--NetIncomeLoss_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_ztLe7McGZ5v9" title="Allocation of net loss">(5,784,717</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_90D_eus-gaap--NetIncomeLoss_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonClassDMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zSEDYCGImbnl" title="Allocation of net loss">(13,968,689</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_904_eus-gaap--NetIncomeLoss_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zmSfV1YEDNE2" title="Allocation of net loss">(9,966,084</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Denominator:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Basic and diluted weighted average shares outstanding</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zjLmdb5lim63" title="Basic weighted average shares outstanding"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zmbWk8A8kR5c" title="Diluted weighted average shares outstanding">724,629</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zNE1V1V6lWYg" title="Basic weighted average shares outstanding"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zaGdxGCf08X8" title="Diluted weighted average shares outstanding">6,758,034</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonClassDMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zLCITNv03IPf" title="Basic weighted average shares outstanding"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonClassDMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zJ1v08AzsBWc" title="Diluted weighted average shares outstanding">16,319,014</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zZib32ZPRHgi" title="Basic weighted average shares outstanding"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z3s9JUMgnSjl" title="Diluted weighted average shares outstanding">11,642,944</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Basic and diluted net loss per share of common stock</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--EarningsPerShareBasic_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zBWuwMDl9EC8" title="Basic net loss per share of common stock"><span id="xdx_909_eus-gaap--EarningsPerShareDiluted_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z5chHMDhVh29" title="Diluted net loss per share of common stock">(0.86</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--EarningsPerShareBasic_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zQqfiKwZREzh" title="Basic net loss per share of common stock"><span id="xdx_90A_eus-gaap--EarningsPerShareDiluted_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zYWDjn58Phj3" title="Diluted net loss per share of common stock">(0.86</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--EarningsPerShareBasic_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonClassDMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zWOAdxIenTGa" title="Basic net loss per share of common stock"><span id="xdx_90B_eus-gaap--EarningsPerShareDiluted_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonClassDMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z8AMcSxomYha" title="Diluted net loss per share of common stock">(0.86</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--EarningsPerShareBasic_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zCa9VXDqQnAe" title="Basic net loss per share of common stock"><span id="xdx_90F_eus-gaap--EarningsPerShareDiluted_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zBadZNr2QeDa" title="Diluted net loss per share of common stock">(0.86</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> </table> <p id="xdx_8AF_zRBMpyzxU9n" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.04 0.04 1000 223875 <p id="xdx_896_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zA0b5iANdHvl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the calculation of earnings per share, with no dividends declared yet, for the years ended December 31, 2025 and 2024, as presented in the accompanying Consolidated Statements of Operations:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B6_z5maPKbExGIa" style="display: none">SCHEDULE OF CALCULATION OF EARNINGS PER SHARE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="9" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Year Ended December 31, 2025</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class B</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Common</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Basic and diluted net loss per share of common stock</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%">Numerator:</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Allocation of net loss</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--NetIncomeLoss_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zWRlnWTTKIkk" title="Allocation of net loss">(397,334</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--NetIncomeLoss_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zucfHu7Akrzf" title="Allocation of net loss">(43,696,388</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less : Series B preferred dividend</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_ecustom--SeriesBPreferredDividend_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zKo2GqgebZe" title="Series B preferred dividend">(2,017</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_ecustom--SeriesBPreferredDividend_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zh1vU9LSyqve" title="Series B preferred dividend">(221,858</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Net loss attributable to common stock holders - basic</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_ecustom--NetIncomeLossAvailableToCommonStockholderBasic_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zlkefRVzRlb" title="Net loss attributable to common stock holders - basic">(399,351</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_ecustom--NetIncomeLossAvailableToCommonStockholderBasic_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zUexNmktxaYf" title="Net loss attributable to common stock holders - basic">(43,918,246</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Denominator:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Basic and diluted weighted average shares outstanding</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zGwwZz6lW8L4" title="Basic weighted average shares outstanding"><span id="xdx_90E_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zeXoSKZ8CRmb" title="Diluted weighted average shares outstanding">363,552</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zOyvG08t7er4" title="Basic weighted average shares outstanding"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z05V2SOSf1Tf" title="Diluted weighted average shares outstanding">39,981,214</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Basic and diluted net loss per share of common stock</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--EarningsPerShareBasic_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zNb23Wl1Q45l" title="Basic net loss per share of common stock"><span id="xdx_904_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_ztsfjzOH5rXa" title="Diluted net loss per share of common stock">(1.10</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--EarningsPerShareBasic_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zIXaXRUKb6B7" title="Basic net loss per share of common stock"><span id="xdx_903_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zs3CGPE2mow3" title="Diluted net loss per share of common stock">(1.10</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="17" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Year Ended December 31, 2024</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Class B</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Class C</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Class D</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Common</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Basic and diluted net loss per share of common stock</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Numerator:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 36%; text-align: left">Allocation of net loss</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_903_eus-gaap--NetIncomeLoss_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zLUwPA9ul7Kf" title="Allocation of net loss">(620,265</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_90A_eus-gaap--NetIncomeLoss_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_ztLe7McGZ5v9" title="Allocation of net loss">(5,784,717</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_90D_eus-gaap--NetIncomeLoss_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonClassDMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zSEDYCGImbnl" title="Allocation of net loss">(13,968,689</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_904_eus-gaap--NetIncomeLoss_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zmSfV1YEDNE2" title="Allocation of net loss">(9,966,084</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Denominator:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Basic and diluted weighted average shares outstanding</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zjLmdb5lim63" title="Basic weighted average shares outstanding"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zmbWk8A8kR5c" title="Diluted weighted average shares outstanding">724,629</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zNE1V1V6lWYg" title="Basic weighted average shares outstanding"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zaGdxGCf08X8" title="Diluted weighted average shares outstanding">6,758,034</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonClassDMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zLCITNv03IPf" title="Basic weighted average shares outstanding"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonClassDMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zJ1v08AzsBWc" title="Diluted weighted average shares outstanding">16,319,014</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zZib32ZPRHgi" title="Basic weighted average shares outstanding"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z3s9JUMgnSjl" title="Diluted weighted average shares outstanding">11,642,944</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Basic and diluted net loss per share of common stock</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--EarningsPerShareBasic_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zBWuwMDl9EC8" title="Basic net loss per share of common stock"><span id="xdx_909_eus-gaap--EarningsPerShareDiluted_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z5chHMDhVh29" title="Diluted net loss per share of common stock">(0.86</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--EarningsPerShareBasic_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zQqfiKwZREzh" title="Basic net loss per share of common stock"><span id="xdx_90A_eus-gaap--EarningsPerShareDiluted_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zYWDjn58Phj3" title="Diluted net loss per share of common stock">(0.86</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--EarningsPerShareBasic_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonClassDMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zWOAdxIenTGa" title="Basic net loss per share of common stock"><span id="xdx_90B_eus-gaap--EarningsPerShareDiluted_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonClassDMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z8AMcSxomYha" title="Diluted net loss per share of common stock">(0.86</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--EarningsPerShareBasic_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zCa9VXDqQnAe" title="Basic net loss per share of common stock"><span id="xdx_90F_eus-gaap--EarningsPerShareDiluted_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zBadZNr2QeDa" title="Diluted net loss per share of common stock">(0.86</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> </table> -397334 -43696388 -2017 -221858 -399351 -43918246 363552 363552 39981214 39981214 -1.10 -1.10 -1.10 -1.10 -620265 -5784717 -13968689 -9966084 724629 724629 6758034 6758034 16319014 16319014 11642944 11642944 -0.86 -0.86 -0.86 -0.86 -0.86 -0.86 -0.86 -0.86 <p id="xdx_80D_ecustom--WarrantsTextBlock_z6mmavJomDud" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 12 – <span id="xdx_827_zqyolf26LyTh">WARRANTS AND STOCK OPTIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company grants, to certain of its directors and employees, warrants and stock options to purchase shares of the Company’s equity. The Company may also issue stock options or warrants to investors in connection with its capital raising and financing activities. In addition, the Company has adopted, and its shareholders have approved the Amended and Restated 2023 Omnibus Incentive Compensation Plan (the “2023 Plan”). Under the 2023 Plan, a total of <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeOmnibusIncentiveCompensationPlanMember_zBGY9BNXmgkl" title="Share based compensation shares reserved">2,500,000</span> shares of Company common stock were initially reserved for awards to directors, officers, employees and consultants. Incentive-compensation awards under the 2023 Plan may consist of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, and performance awards. As of December 31, 2025 and 2024, there were options outstanding under the 2023 Plan to acquire <span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iI_pid_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeOmnibusIncentiveCompensationPlanMember_ze2CJMWOjFBf" title="Options outstanding shares">2,500,000</span> and <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iI_pid_c20241231__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeOmnibusIncentiveCompensationPlanMember_zxtSJUuk6ad2" title="Options outstanding shares">0</span> shares, respectively, of Company common stock. The options outstanding as of December 31, 2025 have an exercise price of $<span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreeOmnibusIncentiveCompensationPlanMember_zoYvDcelOcIa" title="Options outstanding exercise price">10.00</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zqn041A726ck" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following is a summary of the warrant and stock options activities during the years ended December 31, 2025 and 2024: </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B8_zbTb0cobi7I5" style="display: none">SUMMARY OF WARRANT AND STOCK ACTIVITIES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Number of</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Warrants</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">and Options</p></td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Weighted</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Average</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Exercise Price</p></td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Weighted</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Average</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Grant Date</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Fair Value</p></td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Weighted</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Average</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Remaining</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Contractual</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Term (in years)</p></td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 36%">Outstanding, December 31, 2023</td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zo5k30y9t7p" title="Warrants and Options Outstanding">3,029,830</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span title="Weighted Average Exercise Price, Outstanding"><span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zjKbz6JDgyOi" title="Weighted Average Exercise Price, Outstanding">2.59</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zBKT9bFqiAR8" title="Warrants and Options Granted">3,158,333</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z7B01TNPGzK5" title="Weighted Average Exercise Price, Granted">10.02</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zeQgEswMKIdk" title="Weighted Average Grant Date Fair Value, Granted">5.64</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Exercised</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zAkanD0d4rxl" title="Warrants and Options, Exercised">(67,997</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zfXD46hxx6l4" title="Weighted Average Exercise Price, Exercised">2.23</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expired and forfeited</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zFVGTw3ggZXb" title="Warrants and Options Expired and forfeited">(535,873</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zdOmLChNOus1" title="Weighted Average Exercise Price, Expired and forfeited">6.34</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Outstanding, December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zZolf1DiHU17" title="Warrants and Options, Outstanding">5,584,293</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_909_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zXmoZ82VM0Pl" title="Weighted Average Exercise Price, Outstanding">6.43</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Outstanding, December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zFWgTCMzrFQe" title="Warrants and Options, Outstanding">5,584,293</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z7DSIjf3RFOl" title="Weighted Average Exercise Price, Outstanding">6.43</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zxjRqVYfPHHj" title="Warrants and Options, Granted">4,824,250</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zMUnvxUpPTOe" title="Weighted Average Exercise Price, Granted">10.85</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zGdJLQlXGTf4" title="Weighted Average Grant Date Fair Value, Granted">3.47</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Exercised</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zxuhCh5tIMBe" title="Warrants and Options, Exercised">(138,333</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zrzsXIcuZuie" title="Weighted Average Exercise Price, Exercised">3.49</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expired and forfeited</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zts4jaSrRaqa" title="Warrants and Options, Expired and forfeited">(517,593</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z7SC2mIa3kUg" title="Weighted Average Exercise Price, Expired and forfeited">8.74</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Outstanding, December 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zaWK4cLwL76d" title="Warrants and Options, Outstanding">9,752,617</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zgIfaxlZhPOh" title="Weighted Average Exercise Price, Outstanding">8.54</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_ecustom--WarrantWeightedAverageRemainingContractualTerm_dtY_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zOQm96bUNPga" title="Weighted Average Remaining Contractual Term">4.22</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zF36nIU64cVa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2025, the Company granted a total of <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreePlanMember_zveROsleB1zh" title="Number of warrants granted">4,824,250</span> warrants and stock options, with (i) <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreePlanMember__srt--TitleOfIndividualAxis__custom--JWRothAndKevinONeilMember_zG6hrYPZ4Fil" title="Number of warrants granted">2,500,000</span> total options granted to JW Roth and Kevin O’Neil as part of the closing upon the real property in McKinney and each agreeing to serve as a personal guarantor of a promissory note issued at that closing, (ii) <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreePlanMember__srt--TitleOfIndividualAxis__custom--InvestorsMember_zyDpgt1pNIT9" title="Issuance of warrants shares">900,000</span> warrants issued to investors as part of the convertible promissory note offering, (iii) an additional <span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreePlanMember_zz4vd2uuwF48" title="Issuance of warrants shares">608,750</span> in total warrants and stock options for contributed services and (iv) <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20250101__20251231__srt--TitleOfIndividualAxis__custom--EmployeesAndDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyThreePlanMember_z8QaxLpDE8Ui" title="Number of warrants granted">815,500</span> stock options to employees and directors. As of December 31, 2025, there was a total of <span id="xdx_90C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsExercisableNumber_iI_pid_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zpU6rttEO64j" title="Number of warrants exercisable">7,456,264</span> warrants (and stock options) exercisable with an aggregate intrinsic value of $<span id="xdx_909_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsExercisableIntrinsicValue1_iI_pid_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zZazKLGn1203" title="Aggregate intrinsic value, warrants exercisable">12,303,982</span>. For the total warrants and stock options outstanding of <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_pid_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z1G9TpLWnH61" title="Number of warrants outstanding">9,752,617</span> as of December 31, 2025, the aggregate intrinsic value was $<span id="xdx_905_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingIntrinsicValue_iI_pid_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zoOjtDjh5RK1" title="Aggregate intrinsic value, warrants">14,329,214</span>. As of December 31, 2025, there was $<span id="xdx_90C_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_znz20YuERbJ8" title="Unrecognized compensation cost">6,508,123</span> of unrecognized compensation cost related to non-vested warrants. The equity-based compensation cost, related to warrants and stock options included as a charge to operating expenses in the Consolidated Statements of Operations for the years ended December 31, 2025 and 2024 were $<span id="xdx_908_eus-gaap--ShareBasedCompensation_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zSg7Oxwy4OH1" title="Equity-based compensation cost"><span title="Equity-based compensation cost">15,345,687</span></span> to be recognized over a weighted-average period of <span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zFfjvpldgBXi" title="Warrants weighted-average period">4.22</span> years and $<span id="xdx_907_eus-gaap--ShareBasedCompensation_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zZ7ub8Lx9Is2" title="Equity-based compensation cost">12,015,133</span> to be recognized over a weighted-average period of <span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z7pYtSXUMZIk" title="Warrants weighted-average period">5.04</span> years, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 12 – WARRANTS AND STOCK OPTIONS (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zzzV5oY6uBbl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of the warrants and stock options was estimated using the Black-Scholes-Merton model using the following inputs:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="xdx_8B3_zEzbTWI2xBz8" style="display: none">SCHEDULE OF FAIR VALUE OF WARRANTS AND OPTION</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; border-collapse: collapse; width: 90%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Volatility</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_z299Gm76cBGc" title="Warrants measurement input">44.7</span>% to <span id="xdx_902_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zyJ5BmYL1d38" title="Warrants measurement input">98.9</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zebXylmvz5Ql" title="Warrants measurement input">69.3</span>% to<span id="xdx_903_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zLCcmyypyeqc" title="Warrants measurement input"> 77.4</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: justify">Dividends</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zmY36fUfxeEk" title="Warrants measurement input">0.00</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zz9FJ1q9rr14" title="Warrants measurement input">0.00</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Risk-free rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_z1PwAjrn8C8j" title="Warrants measurement input">0.4</span>% to <span id="xdx_903_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zH55AJdkIq22" title="Warrants measurement input">4.6</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">% </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zhrYFBtPErLl" title="Warrants measurement input">0.4</span>% to <span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zliTpc3QzkKg" title="Warrants measurement input">4.8</span> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Term (years)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zyFT3ifx9gd3" title="Expected Term">3</span>-<span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zUJKBTHjh8w5" title="Expected Term">5</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_z9bYDYF73Ffc" title="Expected Term">3</span>-<span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zcdmEsVCTzX9" title="Expected Term">5</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zsxaGJD0JHTb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock options and warrants are equity classified, not liability classified, and are not remeasured at fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 2500000 2500000 0 10.00 <p id="xdx_890_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zqn041A726ck" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following is a summary of the warrant and stock options activities during the years ended December 31, 2025 and 2024: </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B8_zbTb0cobi7I5" style="display: none">SUMMARY OF WARRANT AND STOCK ACTIVITIES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Number of</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Warrants</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">and Options</p></td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Weighted</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Average</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Exercise Price</p></td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Weighted</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Average</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Grant Date</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Fair Value</p></td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Weighted</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Average</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Remaining</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Contractual</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Term (in years)</p></td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 36%">Outstanding, December 31, 2023</td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zo5k30y9t7p" title="Warrants and Options Outstanding">3,029,830</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span title="Weighted Average Exercise Price, Outstanding"><span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zjKbz6JDgyOi" title="Weighted Average Exercise Price, Outstanding">2.59</span></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zBKT9bFqiAR8" title="Warrants and Options Granted">3,158,333</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z7B01TNPGzK5" title="Weighted Average Exercise Price, Granted">10.02</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zeQgEswMKIdk" title="Weighted Average Grant Date Fair Value, Granted">5.64</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Exercised</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zAkanD0d4rxl" title="Warrants and Options, Exercised">(67,997</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zfXD46hxx6l4" title="Weighted Average Exercise Price, Exercised">2.23</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expired and forfeited</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zFVGTw3ggZXb" title="Warrants and Options Expired and forfeited">(535,873</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zdOmLChNOus1" title="Weighted Average Exercise Price, Expired and forfeited">6.34</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Outstanding, December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zZolf1DiHU17" title="Warrants and Options, Outstanding">5,584,293</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_909_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zXmoZ82VM0Pl" title="Weighted Average Exercise Price, Outstanding">6.43</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Outstanding, December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zFWgTCMzrFQe" title="Warrants and Options, Outstanding">5,584,293</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z7DSIjf3RFOl" title="Weighted Average Exercise Price, Outstanding">6.43</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zxjRqVYfPHHj" title="Warrants and Options, Granted">4,824,250</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zMUnvxUpPTOe" title="Weighted Average Exercise Price, Granted">10.85</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zGdJLQlXGTf4" title="Weighted Average Grant Date Fair Value, Granted">3.47</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Exercised</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zxuhCh5tIMBe" title="Warrants and Options, Exercised">(138,333</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zrzsXIcuZuie" title="Weighted Average Exercise Price, Exercised">3.49</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expired and forfeited</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zts4jaSrRaqa" title="Warrants and Options, Expired and forfeited">(517,593</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z7SC2mIa3kUg" title="Weighted Average Exercise Price, Expired and forfeited">8.74</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif">Outstanding, December 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zaWK4cLwL76d" title="Warrants and Options, Outstanding">9,752,617</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zgIfaxlZhPOh" title="Weighted Average Exercise Price, Outstanding">8.54</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_ecustom--WarrantWeightedAverageRemainingContractualTerm_dtY_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zOQm96bUNPga" title="Weighted Average Remaining Contractual Term">4.22</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> 3029830 2.59 3158333 10.02 5.64 -67997 2.23 -535873 6.34 5584293 6.43 5584293 6.43 4824250 10.85 3.47 -138333 3.49 -517593 8.74 9752617 8.54 P4Y2M19D 4824250 2500000 900000 608750 815500 7456264 12303982 9752617 14329214 6508123 15345687 P4Y2M19D 12015133 P5Y14D <p id="xdx_895_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zzzV5oY6uBbl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of the warrants and stock options was estimated using the Black-Scholes-Merton model using the following inputs:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="xdx_8B3_zEzbTWI2xBz8" style="display: none">SCHEDULE OF FAIR VALUE OF WARRANTS AND OPTION</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; border-collapse: collapse; width: 90%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Volatility</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_z299Gm76cBGc" title="Warrants measurement input">44.7</span>% to <span id="xdx_902_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zyJ5BmYL1d38" title="Warrants measurement input">98.9</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zebXylmvz5Ql" title="Warrants measurement input">69.3</span>% to<span id="xdx_903_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zLCcmyypyeqc" title="Warrants measurement input"> 77.4</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: justify">Dividends</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zmY36fUfxeEk" title="Warrants measurement input">0.00</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zz9FJ1q9rr14" title="Warrants measurement input">0.00</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Risk-free rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_z1PwAjrn8C8j" title="Warrants measurement input">0.4</span>% to <span id="xdx_903_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zH55AJdkIq22" title="Warrants measurement input">4.6</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">% </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zhrYFBtPErLl" title="Warrants measurement input">0.4</span>% to <span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zliTpc3QzkKg" title="Warrants measurement input">4.8</span> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected Term (years)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zyFT3ifx9gd3" title="Expected Term">3</span>-<span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zUJKBTHjh8w5" title="Expected Term">5</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_z9bYDYF73Ffc" title="Expected Term">3</span>-<span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantAndOptionMember_zcdmEsVCTzX9" title="Expected Term">5</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> 44.7 98.9 69.3 77.4 0.00 0.00 0.4 4.6 0.4 4.8 P3Y P5Y P3Y P5Y <p id="xdx_80B_eus-gaap--IncomeTaxDisclosureTextBlock_zYGQTj1h9XCc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 13 – <span id="xdx_82F_zNMt0ZRcRzXf">INCOME TAXES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_890_eus-gaap--ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_zc7iPn5vSbQj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth income before taxes:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>  </b><span id="xdx_8B7_zMPBMLzZttzg" style="display: none">SCHEDULE OF FORTH INCOME BEFORE TAXES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; border-collapse: collapse; width: 90%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20250101__20251231_zU5eralT77g6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_499_20240101__20241231_zhhgyLGwMLJ4" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_zxXdIMoklub2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%">U.S.</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">(50,781,223</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">(32,793,466</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_zfVIJWlm1aw5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Foreign</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2690">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2691">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zXiwAftmNEh1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total income before taxes</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(50,781,223</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(32,793,466</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> </table> <p id="xdx_8A4_zBd5O05ZTfQ1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_89D_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zBv3mkB9wZqj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table reconciles the statutory income tax rates to actual rates based on income or loss before income taxes as of December 31, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B0_zhMQmdXFo1S9" style="display: none">SCHEDULE OF RECONCILIATION OF STATUTORY INCOME TAX RATES</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Tax Rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Tax Rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 44%; text-align: left">Income tax benefit at federal statutory rate</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_mabhksgri_c20250101__20251231_zlVikt2CsHDg" style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right" title="Income tax benefit at federal statutory rate">(10,664,057</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maygregtf_c20250101__20251231_zMh7LtuO7AQ3" style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right" title="Income tax benefit at federal statutory rate, percentage">21.0</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_mabhksgri_c20240101__20241231_z4XH9VyZXkkb" style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right" title="Income tax benefit at federal statutory rate">(6,886,628</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maygregtf_c20240101__20241231_zNIJfoNi6sQ1" style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right" title="Income tax benefit at federal statutory rate, percentage">21.0</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Non-controlling interest </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--IncomeTaxReconciliationMinorityInterestIncomeExpense_iN_di_msbhksgri_c20250101__20251231_zIhfHNonY2u2" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-controlling interest">2,012,411</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_iN_pid_dpi_uPure_msygregtf_c20250101__20251231_zZYDXec3z8yf" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-controlling interest, percentage">-4.0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeTaxReconciliationMinorityInterestIncomeExpense_iN_di_msbhksgri_c20240101__20241231_zjpRbSdKqUT9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-controlling interest">312,596</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_iN_pid_dpi_uPure_msygregtf_c20240101__20241231_zPrWXqQ0olDj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-controlling interest, percentage">-1.0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Equity based compensation</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_ecustom--IncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_mabhksgri_c20250101__20251231_z5zyc81QTpzk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity based compensation">58,353</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_pid_dp_uPure_maygregtf_c20250101__20251231_zN0qDDBLNhHd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity based compensation, percentage">-0.1</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_ecustom--IncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_mabhksgri_c20240101__20241231_z2NumQxyPnUd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity based compensation">1,469,853 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_pid_dp_uPure_maygregtf_c20240101__20241231_zfgFywocyU9b" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity based compensation, percentage">-4.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Interest expense</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_ecustom--IncomeTaxRateReconciliationInterestExpenses_mabhksgri_c20250101__20251231_z8lj8lRbdYd1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">266,987</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_ecustom--EffectiveIncomeTaxRateReconciliationInterestExpenses_pid_dp_uPure_maygregtf_c20250101__20251231_zQPTrlxg9cK8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense, percentage">-0.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--IncomeTaxRateReconciliationInterestExpenses_mabhksgri_c20240101__20241231_zgCxXq5Fqa2l" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">595,025</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--EffectiveIncomeTaxRateReconciliationInterestExpenses_pid_dp_uPure_maygregtf_c20240101__20241231_za2BbgDED7vl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense, percentage">-1.8</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Financing expense</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_ecustom--IncomeTaxRateReconciliationFinancingExpense_mabhksgri_c20250101__20251231_zfO4YxVMDjEe" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing expense"><span style="-sec-ix-hidden: xdx2ixbrl2730">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_ecustom--EffectiveIncomeTaxRateReconciliationFinancingExpense_pid_dp_uPure_maygregtf_c20250101__20251231_zBXniVavxaY3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing expense, percentage">0.0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_ecustom--IncomeTaxRateReconciliationFinancingExpense_mabhksgri_c20240101__20241231_zLsQkCYSm4J9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing expense">525,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_ecustom--EffectiveIncomeTaxRateReconciliationFinancingExpense_pid_dp_uPure_maygregtf_c20240101__20241231_zNpqbeSgtANb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing expense, percentage">-1.6</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">State and local income taxes net of federal tax benefit</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_mabhksgri_c20250101__20251231_zX5Ht1yaSIJ4" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="State and local income taxes net of federal tax benefit">(1,450,204</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maygregtf_c20250101__20251231_zxZBaLAOL5e7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="State and local income taxes net of federal tax benefit, percentage">2.9</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_mabhksgri_c20240101__20241231_z1g6jxXdmMa3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="State and local income taxes net of federal tax benefit">(679,184</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maygregtf_c20240101__20241231_zWwyye3ADPJk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="State and local income taxes net of federal tax benefit, percentage">2.1</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Others     </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--IncomeTaxReconciliationOtherAdjustments_mabhksgri_c20250101__20251231_zsrtu81U8aIe" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Others">(182,978</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maygregtf_c20250101__20251231_zKZqiwfSzWlb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Others, percentage">0.4</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--IncomeTaxReconciliationOtherAdjustments_mabhksgri_c20240101__20241231_zBHUKHEthTol" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Others">239,627</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maygregtf_c20240101__20241231_zfZvCbJwILs4" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Others, percentage">-0.7</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Valuation allowance   </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_mabhksgri_c20250101__20251231_z8mIhNxhOnRh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Valuation allowance">9,959,488</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_maygregtf_c20250101__20251231_z5m6f9OaVUxc" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Valuation allowance, percentage">-19.7</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_mabhksgri_c20240101__20241231_zMloIStQyo2e" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Valuation allowance">4,423,711</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_maygregtf_c20240101__20241231_zwIcRkMaoiVj" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Valuation allowance, percentage">-13.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Provision for income taxes </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--IncomeTaxExpenseBenefit_iT_mtbhksgri_c20250101__20251231_zrV2ZFFhwUa9" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Provision for income taxes"><span style="-sec-ix-hidden: xdx2ixbrl2762">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtygregtf_c20250101__20251231_zRhOOCqJB7l8" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Provision for income taxes, percentage">0.0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeTaxExpenseBenefit_iT_mtbhksgri_c20240101__20241231_zPT9zH1Qk5i7" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Provision for income taxes"><span style="-sec-ix-hidden: xdx2ixbrl2766">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtygregtf_c20240101__20241231_zgg7Mdhc1pfk" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Provision for income taxes, percentage">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table> <p id="xdx_8A9_zDSD0AieCuva" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 295.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 13 – INCOME TAXES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_891_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zMfXm7JRL8H2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Below is a summary of the Company’s deferred tax assets and liabilities:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"> <span id="xdx_8B4_zPZF178kE9h6" style="display: none">SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_495_20251231_zMhNd6wCANhi" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_496_20241231_zeWSeJLzqLqk" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTAGzUIJ_zBtW77YzFRl3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">Net operating loss and tax credits carry forwards</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">14,823,636</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">4,710,756</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DeferredTaxAssetsLeaseLiabilities_iI_maDTAGzUIJ_z6EfiHrKFXtc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Lease liability </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">8,140,324</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,284,550</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsInvestments_iI_maDTAGzUIJ_zTDueu8UC7Qa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Investments in partnerships </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,227,176</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,565,317</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_maDTAGzUIJ_zoGTPoLxFpj4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Equity based compensation </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5,291,552</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,493,341</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DeferredTaxAssetsDeferredRevenue_iI_maDTAGzUIJ_zlsf5hnoeVJe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred revenue </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">338,390</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">407,571</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOther_iI_maDTAGzUIJ_zFd3k5piLHlf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Others </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">385,145</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">44,699</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsGross_iTI_maDTANz2iF_mtDTAGzUIJ_zAp9oHRlwSD7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax assets before valuation allowance </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">32,206,223</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">12,506,234</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTANz2iF_zF79dt0KoGng" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Valuation allowance </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(17,871,255</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(7,911,767</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNet_iTI_mtDTANz2iF_maDTALNz5vP_zHIiiRmFksmf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax assets after valuation allowance </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">14,334,968</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4,594,467</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--DeferredTaxLiabilitiesRightOfUseAsset_iNI_di_maDTLzOPE_zVKlgaWRz1F4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Right of use assets </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(7,934,400</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(4,122,635</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxLiabilitiesOtherFiniteLivedAssets_iNI_di_maDTLzOPE_zmTunTwI3gW9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Fixed assets </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(6,400,568</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(471,832</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxLiabilities_iNTI_di_msDTALNz5vP_mtDTLzOPE_zQZxzCqg9O6l" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax liabilities </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(14,334,968</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(4,594,467</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNz5vP_zeaHQtaJ6XS3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Net deferred tax assets and liabilities </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2808">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2809">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"></span><span style="font: normal 10pt Times New Roman, Times, Serif"></span></p> <p id="xdx_8A0_zGI7axEwQRc1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has federal net operating loss of $<span id="xdx_90F_eus-gaap--OperatingLossCarryforwards_iI_c20251231_z39e27ivMs9i" title="Federal net operating loss">58,310,604</span> and $<span id="xdx_90E_eus-gaap--OperatingLossCarryforwards_iI_c20241231_zpfve7AYf5o7" title="Federal net operating loss">18,043,321</span> as of the current and prior year, respectively. All of the federal net operating loss has an indefinite carry forward period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has various state net operating carry forwards. The determination of the state net operating loss carryforwards is dependent upon apportionment percentages and state laws that can change from year to year and impact the amount of such carryforwards. In general, under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended (or the Code), a corporation that undergoes an “ownership change,” generally defined as a greater than 50% change by value in its equity ownership over a three-year period, is subject to limitations on its ability to utilize its pre-change net operating losses (“NOLs”), other tax attribute carryforwards and research and development credit carryforwards to offset future taxable income. Our existing NOLs, other tax attribute carryforwards and research and development credit carryforwards may be subject to limitations arising from previous ownership changes. If we undergo, or are deemed to have previously undergone, an ownership change, our ability to utilize NOLs, other tax attribute carryforwards and research and development credit carryforwards could be limited by Sections 382 and 383 of the Code. Additionally, future changes in our stock ownership, some of which might be beyond our control, could result in an ownership change under Section 382 of the Code. For these reasons, in the event we experience or are deemed to have experienced an “ownership change” for these purposes, we may not be able to utilize a material or even a substantial portion of the NOLs, other tax attribute carryforwards, research and development credit carryforwards, even if we attain profitability. We have not completed a Code Section 382 analysis regarding any limitation on our NOL carryforwards.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. Due primarily to its history of operating losses, the Company is unable to conclude that it is more likely than not that it will realize the benefits of its deferred tax assets. Therefore, the Company provided a valuation allowance against the entire net deferred tax assets during current year, reflecting an increase of $<span id="xdx_901_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_c20250101__20251231_zQ5uGuZIZWRk" title="Valuation allowance">9,959,488</span>. Management does not believe that there are significant uncertain tax positions in the current and prior year. There are no interest and penalties related to uncertain tax positions in the current and prior year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 13 – INCOME TAXES (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company is no longer subject to income tax examinations for federal income taxes before 2022 or for states before 2021. Net operating loss carryforwards are subject to examination in the year they are utilized regardless of whether the tax year in which they are generated has been closed by statute. The amount subject to disallowance is limited to the NOL utilized. Therefore, the Company may be subject to examination for prior NOLs generated as such NOLs are utilized. generated as such NOLs are utilized.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_zc7iPn5vSbQj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth income before taxes:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>  </b><span id="xdx_8B7_zMPBMLzZttzg" style="display: none">SCHEDULE OF FORTH INCOME BEFORE TAXES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; border-collapse: collapse; width: 90%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20250101__20251231_zU5eralT77g6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_499_20240101__20241231_zhhgyLGwMLJ4" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_zxXdIMoklub2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%">U.S.</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">(50,781,223</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">(32,793,466</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_zfVIJWlm1aw5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Foreign</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2690">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2691">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zXiwAftmNEh1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total income before taxes</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(50,781,223</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(32,793,466</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> </table> -50781223 -32793466 -50781223 -32793466 <p id="xdx_89D_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zBv3mkB9wZqj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table reconciles the statutory income tax rates to actual rates based on income or loss before income taxes as of December 31, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B0_zhMQmdXFo1S9" style="display: none">SCHEDULE OF RECONCILIATION OF STATUTORY INCOME TAX RATES</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Tax Rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Total</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Tax Rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 44%; text-align: left">Income tax benefit at federal statutory rate</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_mabhksgri_c20250101__20251231_zlVikt2CsHDg" style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right" title="Income tax benefit at federal statutory rate">(10,664,057</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maygregtf_c20250101__20251231_zMh7LtuO7AQ3" style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right" title="Income tax benefit at federal statutory rate, percentage">21.0</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_mabhksgri_c20240101__20241231_z4XH9VyZXkkb" style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right" title="Income tax benefit at federal statutory rate">(6,886,628</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maygregtf_c20240101__20241231_zNIJfoNi6sQ1" style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right" title="Income tax benefit at federal statutory rate, percentage">21.0</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Non-controlling interest </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--IncomeTaxReconciliationMinorityInterestIncomeExpense_iN_di_msbhksgri_c20250101__20251231_zIhfHNonY2u2" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-controlling interest">2,012,411</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_iN_pid_dpi_uPure_msygregtf_c20250101__20251231_zZYDXec3z8yf" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-controlling interest, percentage">-4.0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeTaxReconciliationMinorityInterestIncomeExpense_iN_di_msbhksgri_c20240101__20241231_zjpRbSdKqUT9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-controlling interest">312,596</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_iN_pid_dpi_uPure_msygregtf_c20240101__20241231_zPrWXqQ0olDj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Non-controlling interest, percentage">-1.0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Equity based compensation</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_ecustom--IncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_mabhksgri_c20250101__20251231_z5zyc81QTpzk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity based compensation">58,353</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_pid_dp_uPure_maygregtf_c20250101__20251231_zN0qDDBLNhHd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity based compensation, percentage">-0.1</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_ecustom--IncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_mabhksgri_c20240101__20241231_z2NumQxyPnUd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity based compensation">1,469,853 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_pid_dp_uPure_maygregtf_c20240101__20241231_zfgFywocyU9b" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity based compensation, percentage">-4.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Interest expense</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_ecustom--IncomeTaxRateReconciliationInterestExpenses_mabhksgri_c20250101__20251231_z8lj8lRbdYd1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">266,987</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_ecustom--EffectiveIncomeTaxRateReconciliationInterestExpenses_pid_dp_uPure_maygregtf_c20250101__20251231_zQPTrlxg9cK8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense, percentage">-0.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--IncomeTaxRateReconciliationInterestExpenses_mabhksgri_c20240101__20241231_zgCxXq5Fqa2l" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense">595,025</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--EffectiveIncomeTaxRateReconciliationInterestExpenses_pid_dp_uPure_maygregtf_c20240101__20241231_za2BbgDED7vl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Interest expense, percentage">-1.8</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Financing expense</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_ecustom--IncomeTaxRateReconciliationFinancingExpense_mabhksgri_c20250101__20251231_zfO4YxVMDjEe" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing expense"><span style="-sec-ix-hidden: xdx2ixbrl2730">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_ecustom--EffectiveIncomeTaxRateReconciliationFinancingExpense_pid_dp_uPure_maygregtf_c20250101__20251231_zBXniVavxaY3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing expense, percentage">0.0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_ecustom--IncomeTaxRateReconciliationFinancingExpense_mabhksgri_c20240101__20241231_zLsQkCYSm4J9" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing expense">525,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_ecustom--EffectiveIncomeTaxRateReconciliationFinancingExpense_pid_dp_uPure_maygregtf_c20240101__20241231_zNpqbeSgtANb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Financing expense, percentage">-1.6</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">State and local income taxes net of federal tax benefit</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_mabhksgri_c20250101__20251231_zX5Ht1yaSIJ4" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="State and local income taxes net of federal tax benefit">(1,450,204</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maygregtf_c20250101__20251231_zxZBaLAOL5e7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="State and local income taxes net of federal tax benefit, percentage">2.9</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_mabhksgri_c20240101__20241231_z1g6jxXdmMa3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="State and local income taxes net of federal tax benefit">(679,184</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maygregtf_c20240101__20241231_zWwyye3ADPJk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="State and local income taxes net of federal tax benefit, percentage">2.1</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Others     </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--IncomeTaxReconciliationOtherAdjustments_mabhksgri_c20250101__20251231_zsrtu81U8aIe" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Others">(182,978</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maygregtf_c20250101__20251231_zKZqiwfSzWlb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Others, percentage">0.4</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--IncomeTaxReconciliationOtherAdjustments_mabhksgri_c20240101__20241231_zBHUKHEthTol" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Others">239,627</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maygregtf_c20240101__20241231_zfZvCbJwILs4" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Others, percentage">-0.7</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Valuation allowance   </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_mabhksgri_c20250101__20251231_z8mIhNxhOnRh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Valuation allowance">9,959,488</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_maygregtf_c20250101__20251231_z5m6f9OaVUxc" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Valuation allowance, percentage">-19.7</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_mabhksgri_c20240101__20241231_zMloIStQyo2e" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Valuation allowance">4,423,711</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_maygregtf_c20240101__20241231_zwIcRkMaoiVj" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Valuation allowance, percentage">-13.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Provision for income taxes </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--IncomeTaxExpenseBenefit_iT_mtbhksgri_c20250101__20251231_zrV2ZFFhwUa9" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Provision for income taxes"><span style="-sec-ix-hidden: xdx2ixbrl2762">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtygregtf_c20250101__20251231_zRhOOCqJB7l8" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Provision for income taxes, percentage">0.0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeTaxExpenseBenefit_iT_mtbhksgri_c20240101__20241231_zPT9zH1Qk5i7" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Provision for income taxes"><span style="-sec-ix-hidden: xdx2ixbrl2766">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtygregtf_c20240101__20241231_zgg7Mdhc1pfk" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Provision for income taxes, percentage">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table> -10664057 0.210 -6886628 0.210 -2012411 0.040 -312596 0.010 58353 -0.001 1469853 -0.045 266987 -0.005 595025 -0.018 0.000 525000 -0.016 -1450204 0.029 -679184 0.021 -182978 0.004 239627 -0.007 9959488 -0.197 4423711 -0.135 0.000 0 <p id="xdx_891_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zMfXm7JRL8H2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Below is a summary of the Company’s deferred tax assets and liabilities:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"> <span id="xdx_8B4_zPZF178kE9h6" style="display: none">SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_495_20251231_zMhNd6wCANhi" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_496_20241231_zeWSeJLzqLqk" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTAGzUIJ_zBtW77YzFRl3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">Net operating loss and tax credits carry forwards</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">14,823,636</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">4,710,756</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DeferredTaxAssetsLeaseLiabilities_iI_maDTAGzUIJ_z6EfiHrKFXtc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Lease liability </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">8,140,324</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,284,550</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsInvestments_iI_maDTAGzUIJ_zTDueu8UC7Qa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Investments in partnerships </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,227,176</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,565,317</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_maDTAGzUIJ_zoGTPoLxFpj4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Equity based compensation </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5,291,552</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,493,341</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DeferredTaxAssetsDeferredRevenue_iI_maDTAGzUIJ_zlsf5hnoeVJe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred revenue </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">338,390</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">407,571</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOther_iI_maDTAGzUIJ_zFd3k5piLHlf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Others </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">385,145</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">44,699</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsGross_iTI_maDTANz2iF_mtDTAGzUIJ_zAp9oHRlwSD7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax assets before valuation allowance </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">32,206,223</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">12,506,234</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTANz2iF_zF79dt0KoGng" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Valuation allowance </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(17,871,255</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(7,911,767</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNet_iTI_mtDTANz2iF_maDTALNz5vP_zHIiiRmFksmf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax assets after valuation allowance </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">14,334,968</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4,594,467</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--DeferredTaxLiabilitiesRightOfUseAsset_iNI_di_maDTLzOPE_zVKlgaWRz1F4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Right of use assets </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(7,934,400</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(4,122,635</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxLiabilitiesOtherFiniteLivedAssets_iNI_di_maDTLzOPE_zmTunTwI3gW9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Fixed assets </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(6,400,568</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(471,832</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxLiabilities_iNTI_di_msDTALNz5vP_mtDTLzOPE_zQZxzCqg9O6l" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax liabilities </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(14,334,968</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(4,594,467</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNz5vP_zeaHQtaJ6XS3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Net deferred tax assets and liabilities </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2808">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2809">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"></span><span style="font: normal 10pt Times New Roman, Times, Serif"></span></p> 14823636 4710756 8140324 4284550 3227176 1565317 5291552 1493341 338390 407571 385145 44699 32206223 12506234 17871255 7911767 14334968 4594467 7934400 4122635 6400568 471832 14334968 4594467 58310604 18043321 9959488 <p id="xdx_80F_eus-gaap--AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_zsjU2TAYALo3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 14 – <span id="xdx_82B_zGVE8Wtb660j">ACCOUNTS PAYABLE AND ACCRUED EXPENSES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying amounts of accounts payable and accrued expenses approximated their fair values at December 31, 2025 and 2024. Accounts payable at December 31, 2025 and 2024 were $<span id="xdx_902_eus-gaap--AccountsPayableCurrent_iI_c20251231_z1aDmcMWRNt4" title="Accounts payable">25,129,485</span> and $<span id="xdx_90A_eus-gaap--AccountsPayableCurrent_iI_c20241231_zYaw6Vb3GKud" title="Accounts payable">7,283,033</span>, respectively, which primarily consisted of payments to vendors for operations including inventory, marketing, professional services, security, and payments for construction of the Company’s future facilities. Accrued expenses at December 31, 2025 and 2024 were $<span id="xdx_901_eus-gaap--AccruedLiabilitiesCurrent_iI_c20251231_zB130ewGE3Ra" title="Accrued expenses">27,847,751</span> and $<span id="xdx_901_eus-gaap--AccruedLiabilitiesCurrent_iI_c20241231_zdNWEE4hz35b" title="Accrued expenses">3,556,819</span>, respectively, which included accruals of the Company utilities, property taxes, construction related vendors, insurance, purchases, and interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zGd1d068fYEj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total accrued expenses consists of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BA_zaG19C3RKabe" style="display: none">SCHEDULE OF ACCRUED EXPENSES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_497_20251231_zJaGmYhjrUvj" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49A_20241231_zPTHlMVXNfB1" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40C_ecustom--GeneralOperatingExpenses_iI_maALCANzK1l_z43z7r4PAQx6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">General operating expenses</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">1,044,148</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">1,045,617</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--PropertyAndSalesTaxes_iI_maALCANzK1l_z83alslsHO1f" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Property and sales taxes</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,621,961</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">307,028</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--InterestAccruedOnLongTermDebt_iI_maALCANzK1l_zimshCfZ3Wyh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Interest accrued on long-term debt and NNN firesuite liability</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,478,322</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">46,457</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--ConstructionsCostsRelatedToFutureVenues_iI_maALCANzK1l_zUr7yg0S09gc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Construction costs related to future venues</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">23,703,320</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,157,717</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_mtALCANzK1l_zv49SAYON3Jf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Accrued Expenses</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">27,847,751</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,556,819</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zzMjj4HR7NT7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 25129485 7283033 27847751 3556819 <p id="xdx_895_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zGd1d068fYEj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total accrued expenses consists of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BA_zaG19C3RKabe" style="display: none">SCHEDULE OF ACCRUED EXPENSES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_497_20251231_zJaGmYhjrUvj" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49A_20241231_zPTHlMVXNfB1" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40C_ecustom--GeneralOperatingExpenses_iI_maALCANzK1l_z43z7r4PAQx6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">General operating expenses</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">1,044,148</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">1,045,617</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--PropertyAndSalesTaxes_iI_maALCANzK1l_z83alslsHO1f" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Property and sales taxes</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,621,961</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">307,028</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--InterestAccruedOnLongTermDebt_iI_maALCANzK1l_zimshCfZ3Wyh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Interest accrued on long-term debt and NNN firesuite liability</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,478,322</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">46,457</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--ConstructionsCostsRelatedToFutureVenues_iI_maALCANzK1l_zUr7yg0S09gc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Construction costs related to future venues</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">23,703,320</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,157,717</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_mtALCANzK1l_zv49SAYON3Jf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Accrued Expenses</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">27,847,751</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,556,819</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> 1044148 1045617 1621961 307028 1478322 46457 23703320 2157717 27847751 3556819 <p id="xdx_803_ecustom--LiabilityDisclosureTextBlock_zW9jZ9gxERek" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 15 – <span id="xdx_829_zfXKDLT26uAb">NNN FIRESUITE LIABILITY</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2025, the Company entered into arrangements to sell the exclusive use rights to certain luxury concert suites (“Luxe FireSuites”) to third parties and concurrently lease them back for a 15-year term under a triple-net lease structure. Under these agreements, the third-party pays an upfront purchase price for a Luxe FireSuite and the Company (through a subsidiary, as seller-lessee) immediately leases the suite for its own use for 15 years. Monthly lease payments to the buyer/lessor are fixed to yield an <span id="xdx_907_ecustom--FinancingLiabilityInterestRate_pid_dp_uPure_c20250101__20251231__us-gaap--DebtInstrumentAxis__custom--LuxeFireSuitesMember_zSqwQlput11k" title="Financing liability interest rate">11</span>% annual return on the purchase price, with a <span id="xdx_90A_ecustom--AnnualEsclationsInterestRate_pid_dp_uPure_c20250101__20251231__us-gaap--DebtInstrumentAxis__custom--LuxeFireSuitesMember_zB4HhffFE5Ji" title="Annual esclations interest rate">2</span>% escalation each year. The lease is “triple net,” meaning the Company is responsible for all suite-related operating costs (maintenance, insurance, taxes) over the term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At the end of the 15-year lease term, the buyer/lessor has a one-time option to require the Company to repurchase the Luxe FireSuite rights at a price equal to <span id="xdx_903_ecustom--LiabilityRepurchaseInterestRate_pid_dp_uPure_c20250101__20251231__us-gaap--DebtInstrumentAxis__custom--LuxeFireSuitesMember_zVDJrJw9DzAe" title="Liability repurchase interest rate">150</span>% of the original purchase price (“Lessor Sale Option”). If the buyer/lessor exercises this put option (which expires at lease end), the Company must buy back the suite rights at the agreed price. If the buyer/lessor does not exercise the option, the lease will terminate and the buyer/lessor will retain the ownership of the suite rights going forward (i.e. the buyer/lessor’s rights would continue beyond year 15, and the Company would no longer lease the suite). The repurchase option provides the buyer/lessor with an annual return on its purchase and, as a result, the Company expects that the option will be exercised in most, if not all, cases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has accounted for these transactions as financing arrangements rather than as a sale. Because the Company did not transfer control of the suites, no revenue or gain has been recognized on the upfront cash proceeds. In substance, the buyer/lessor is providing financing to the Company, with the Luxe FireSuites as collateral. Accordingly, at inception the Company continues to carry the Luxe FireSuite assets on its Consolidated Balance Sheets at their existing carrying amount, and it has recorded the cash proceeds from the buyer/lessor as a long-term financing liability (reported as “NNN firesuite liability”). The Company did not derecognize any of its real estate or equipment as a result of these transactions, since they do not qualify as sales under the applicable accounting guidance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The monthly payments made by the Company under the leaseback are not recorded as rent expense. These payments represent interest and principal payments on the financing liability. The Company recognizes interest expense on the financing liability over the 15-year term at an effective interest rate that reflects the <span id="xdx_903_ecustom--FinancingLiabilityInterestRate_pid_dp_uPure_c20250101__20251231_zQEuf8zjoih4" title="Financing liability interest rate">11</span>% initial yield and the annual <span id="xdx_907_ecustom--AnnualEsclationsInterestRate_pid_dp_uPure_c20250101__20251231_zCP58v0LPkm5" title="Annual esclations interest rate">2</span>% escalations, such that the liability will accrete to the <span id="xdx_90B_ecustom--LiabilityRepurchaseInterestRate_pid_dp_uPure_c20250101__20251231_zGacmeLeT8oa" title="Liability repurchase interest rate">150</span>% repurchase price by the end of the term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 15 – NNN FIRESUITE LIABILITY (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The financing liability arising from the Luxe FireSuites transactions is included in the Company’s Consolidated Balance Sheets. As of December 31, 2025 and 2024, the balance of the NNN firesuite liability was $<span id="xdx_90F_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_c20251231_zA9zpiP18Nm5" title="NNN firesuite liability">31,064,514</span> and $<span id="xdx_90E_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_c20241231_ziL5YT4znScl" title="NNN firesuite liability">0</span>, respectively. This reflects the initial proceeds of $<span id="xdx_90C_ecustom--ProceedsFromNnnFiresuiteLiability_c20250101__20251231_zJ0XL7AewOF1" title="Proceeds from NNN firesuite liability">30,789,000</span> received from buyer/lessor and includes $<span id="xdx_900_eus-gaap--DepositLiabilitiesAccruedInterest_iI_c20251231_z7ZFR4SLyxu1" title="Accrued interest">1,327,422</span> of accreted interest for year ended December 31, 2025. No proceeds were received during the year ended December 31, 2024. For the year ended December 31, 2025, the Company recognized interest expense of $<span id="xdx_906_eus-gaap--InterestExpenseNonoperating_c20250101__20251231__dei--LegalEntityAxis__custom--LuxeFireSuitesMember_zM14PQoUyaW6" title="Interest expense">2,111,395</span> related to the Luxe FireSuites financing, which is included within Interest Expense in the Consolidated Statements of Operations. <span id="xdx_90E_eus-gaap--InterestExpenseNonoperating_do_c20240101__20241231__dei--LegalEntityAxis__custom--LuxeFireSuitesMember_zAq36XPsLgUi" title="Interest expense">No</span> interest expense was recognized for the year ended December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_ecustom--ScheduleOfMaturitiesOfLongTermDebtNNNFiresUiteLiabilityTableTextBlock_zNMcm2uk49Ck" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following is the future maturities of NNN firesuite liability for the year ending December 31,</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B1_zOLuNYAm3mIc" style="display: none">SUMMARY OF FUTURE MATURITIES OF LONG TERM DEBT</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; border-collapse: collapse; width: 90%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20251231_zqVJ2zc7ioAh" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maFLLPDz8Ey_zxSASLS0s1gl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">2026</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">1,026,300</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_maFLLPDz8Ey_zu2ucOEgYgse" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2027</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,026,300</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_maFLLPDz8Ey_zyHP3j8MGlHa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2028</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,026,300</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_maFLLPDz8Ey_zsUkAapHwXL" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2029</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,026,300</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFive_iI_maFLLPDz8Ey_z26EwuPJBBD1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2030</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,026,300</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseLiabilityPaymentsDueAfterYearFive_iI_maFLLPDz8Ey_z8rQHAXUqLA9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Thereafter</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">25,933,014</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_mtFLLPDz8Ey_zCFynKljtjt9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total NNN firesuite liability</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">31,064,514</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zC6uYBgZ6Yqf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> 0.11 0.02 1.50 0.11 0.02 1.50 31064514 0 30789000 1327422 2111395 0 <p id="xdx_89F_ecustom--ScheduleOfMaturitiesOfLongTermDebtNNNFiresUiteLiabilityTableTextBlock_zNMcm2uk49Ck" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following is the future maturities of NNN firesuite liability for the year ending December 31,</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B1_zOLuNYAm3mIc" style="display: none">SUMMARY OF FUTURE MATURITIES OF LONG TERM DEBT</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; border-collapse: collapse; width: 90%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_494_20251231_zqVJ2zc7ioAh" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maFLLPDz8Ey_zxSASLS0s1gl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">2026</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">1,026,300</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_maFLLPDz8Ey_zu2ucOEgYgse" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2027</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,026,300</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_maFLLPDz8Ey_zyHP3j8MGlHa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2028</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,026,300</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_maFLLPDz8Ey_zsUkAapHwXL" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2029</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,026,300</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFive_iI_maFLLPDz8Ey_z26EwuPJBBD1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2030</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,026,300</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseLiabilityPaymentsDueAfterYearFive_iI_maFLLPDz8Ey_z8rQHAXUqLA9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Thereafter</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">25,933,014</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_mtFLLPDz8Ey_zCFynKljtjt9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total NNN firesuite liability</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">31,064,514</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> 1026300 1026300 1026300 1026300 1026300 25933014 31064514 <p id="xdx_807_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zFgbE3y48gn2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 16 – <span id="xdx_827_zdzHscfYwAH7">COMMITMENTS AND CONTINGENCIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, the Company may become party to litigation and other claims in the ordinary course of business. To the extent that such claims and litigation arise, management provides for them if upon the advice of counsel, losses are determined to be both probable and estimable. In addition, the Company enters into public private partnerships. These </span>partnerships, may require the Company to meet construction timelines. There may be liquidated damage clauses, etc. To the extent that such claims arise, management provides for them if upon the advice of counsel, losses are determined to be both probable and estimable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_807_eus-gaap--SubsequentEventsTextBlock_zNgIzLeexEx1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 17 – <span id="xdx_82E_zPeVW3D8hoW">SUBSEQUENT EVENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company has evaluated subsequent events through March 31, 2026, and identified the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 5, 2026, the Company and Aramark entered into an amendment to the LOI (the “LOI Amendment”) whereby Aramark agreed to become the exclusive provider of certain food, beverage, catering, concession, retail, custodial, grounds, and facility maintenance services (collectively, the “Services”) at two additional Company amphitheaters to be constructed in El Paso, TX and the greater Houston, TX area beginning upon the date that each facility opens and ending 10 years from the earliest opening date of the Company’s Broken Arrow, OK or McKinney, TX amphitheaters. In connection with the LOI Amendment, Aramark committed an additional $<span id="xdx_90E_eus-gaap--EquityMethodInvestmentSoldCarryingAmount_c20260105__20260105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zZ6rQMSa7zZd">10,005,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">equity investment in the Company by purchasing a total of <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesPurchaseOfAssets_pid_c20260105__20260105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zjbBmw8HFQY5">667</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">additional shares of Series B Preferred Stock. In exchange, the Company agreed to issue (i) <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20260120__20260120__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zk09D9rzmCae">333</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of Series B Preferred Stock for $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn3n6_c20260120__20260120__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zilpth9CNMI2">4.995</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million by January 20, 2026, and (ii) <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20261015__20261015__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zqbfNNwCbQUg">334</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of Series B Preferred Stock for $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn3n6_c20261015__20261015__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zcLBQry4DPm8">5.010</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million on October 15, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company granted <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260120__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_z0rfzGqL0pQ5">3,000,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">options to the Chairman and CEO of the Company on January 20, 2026. <b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the Partner Agreement dated November 6, 2025, the Company issued <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20260101__20260101__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--PartnershipAgreementNovemberMember_zIEwPoOozVNk" title="Common stock shares issued">29,064</span> shares of Common Stock to the brand ambassador subsequent to December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VENU HOLDING CORPORATION AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FOR THE YEARS ENDED </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2025 AND 2024</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 17 – SUBSEQUENT EVENTS (Continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font: normal 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 3, 2026, the Company entered into an Assignment of Purchase and Sale Agreement with Hall at Centennial, LLC, a subsidiary of the Company (the “Subsidiary”), and Old Mill, LLC (“Old Mill”). Following such assignment, on February 3, 2026, the Subsidiary closed on the purchase of land in Centennial, Colorado (the “Centennial Property”) from Old Mill pursuant to the Purchase and Sale Agreement. The purchase price of approximately $<span id="xdx_90B_eus-gaap--DebtSecuritiesAvailableForSalePurchasedWithCreditDeteriorationAmountAtPurchasePrice_c20260203__20260203__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zos4qEVYWzy2" title="Purchase price">12,612,000</span> for the Centennial Property was paid through a combination of cash and a promissory note in the principal amount of approximately $<span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_iI_c20260203__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zDZUjloHhy5a" title="Debt instrument, principal amount">7,758,000</span>, bearing interest at <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_uPure_c20260203__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zQU5t21RQ3z3" title=" Interest rate, effective percentage">4.5</span>% per annum, made by the Company in favor of Old Mill. In connection with the closing of the acquisition, the Subsidiary also entered into a bridge loan (the “Loan”) evidenced by a promissory note in the principal amount of $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20260203__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zT3xmMHrQbS" title="Debt instrument, principal amount">4,350,000</span>, which bears interest at <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_uPure_c20260203__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_za6BiiQxdDRa" title=" Interest rate, effective percentage">7.75</span>% per annum and matures in early May 2026. The proceeds of the Loan were used to satisfy the cash closing delivery obligation for the acquisition of the Centennial Property (as well as to pay off Old Mill’s existing loan secured by the Centennial Property and certain outstanding taxes). The Loan was repaid in full in March 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 8, 2026, the Company completed a public offering of <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20260308__20260308__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zEsazkhBsHol" title="Common stock shares issued">14,340,000</span> shares of common stock (“Common Stock”), and pre-funded warrants to purchase up to <span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfWarrants_pid_c20260308__20260308__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zCuIuPtHgEmi" title="Common stock shares issued">4,410,000</span> shares of common stock (“Pre-Funded Warrants”), in lieu of shares of common stock, in each case together with accompanying warrants to purchase up to <span id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20260308__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zfoD1wpRl8S4" title="Common stock shares issued">18,750,000</span> shares of common stock (“Common Warrants”). The aggregate public offering price for each share of Common Stock, together with one Common Warrant, was $<span id="xdx_901_eus-gaap--SharePrice_iI_c20260308__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zm2tLp02rU6h" title="Share price">4.00</span>. The aggregate public offering price for each Pre-Funded Warrant, together with one Common Warrant, was $<span id="xdx_90B_eus-gaap--SharePrice_iI_c20260308__us-gaap--StatementEquityComponentsAxis__custom--OneCommonWarrantMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zkUVpbWaEi1a" title="Share price">3.999</span>. The Company also granted the underwriters a 45-day option to purchase up to an additional <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260308__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_ztcAS57TsYbb" title="Shares granted">2,812,500</span> shares of common stock and/or <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260308__us-gaap--StatementEquityComponentsAxis__custom--PrefundedWarrantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zuq4r69fqbOh" title="Shares granted">2,812,500</span> Pre-Funded Warrants and/or <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260308__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zRAWNpgymyM1" title="Shares granted">2,812,500</span> Common Warrants to cover any over-allotments in connection with the offering, which the underwriters exercised in full by March 10, 2026. The sale of shares of Common Stock, Pre-Funded Warrants, and accompanying Common Warrants in the offering generated net proceeds to the Company of approximately $<span id="xdx_900_ecustom--UnderwritingDiscountAndCommissionsAmount_c20260308__20260308__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zqB5gYzx6aC2" title="Underwriting discount commission amount">80,100,000</span> million, after deducting the underwriting discounts and commissions and other offering expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company sold an additional $<span id="xdx_906_eus-gaap--BeneficialInterest_iI_c20260331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zJLGOp66mNm1" title="Beneficial interest liability">2,217,627</span> in beneficial interests under the offering conducted by Notes CS I DST, LLC offering by March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the Partner Agreement dated September 22, 2025, the Company issued <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20260101__20260101__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--PartnershipAgreementSeptemberMember_zEEhvEAQTwMe" title="Common stock shares issued">31,328</span> shares of Common Stock to the brand ambassador subsequent to December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> 10005000 667 333 4995000 334 5010000.000 3000000 29064 12612000 7758000 0.045 4350000 0.0775 14340000 4410000 18750000 4.00 3.999 2812500 2812500 2812500 80100000 2217627 31328 These entities are considered majority-owned subsidiaries or variable interest entities and consolidated into the Venu Holding Corporation consolidated financials