NOTE 17 – SUBSEQUENT EVENTS
Management has evaluated subsequent events through the date of issuance of these financial statements and has determined that there are no subsequent events outside the ordinary scope of business that require adjustment to, or disclosure in, the financial statements other than those described below:
| - | In February and March 2026, the Company entered into a credit
facility and related equity arrangements with SafeBets.world Inc. (“SafeBets”), an entity founded and solely owned by the
Company’s Chief Executive Officer and co-founder, Alex Konanykhin. On February 14, 2026, the Company executed
a credit facility and stock allocation agreement with SafeBets pursuant to which the Company agreed to provide a revolving line of credit
of up to $5.0 million,
and SafeBets agreed to issue 50 million
shares of its common stock to the Company in connection with the arrangement. In addition, in March 2026, SafeBets authorized the
issuance of additional shares of its common stock to certain parties, including shares issued to the Company pursuant to the credit facility
agreement. These events occurred subsequent to December 31, 2025 and are not reflected in the accompanying consolidated financial
statements. |
| - | As discussed in Note 12 - Commitments and Contingencies, on March 28, 2026,
the Company entered into a settlement agreement with Michael Pickholz resolving all claims related to pending litigation. Pursuant to
the settlement, the Company agreed to transfer non-cash consideration consisting of common stock with an estimated fair value of approximately $25 thousand
and unicoins with an estimated fair value of approximately $5 thousand, and to pay $15 thousand in legal fees. The settlement
was entered into without any admission of liability or wrongdoing by the Company. This matter constitutes a non-recognized subsequent
event and is not reflected in the accompanying consolidated financial statements. |
| | | |
| | - | Subsequent
to December 31, 2025, the Company received cash and USDC of $5,017 thousand and $292 thousand, respectively, related to new rounds of unicoin rights, representing the investor’s rights to receive utility tokens in the future, when these
become available. During the same period, the Company also received cash proceeds of $25 thousand from the issuance
of short-term debt.
|
|