Digital assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Digital assets

5. Digital assets

The Company holds ETH, Animecoin (“ANIME”), and REKT, all of which are within the scope of ASC 350-60.

The following table presents a roll forward of digital assets held directly by the Company:

Schedule of roll forward digital assets

		ETH				ANIME				REKT				SAND				Total
Balance, December 31, 2024		$	-			$	-			$	-			$	-			$	-
Purchases			57,000,099				500,000				-				-				57,500,099
Other receipts - non-cash			-				3,250,000				2,000,000				250,000				5,500,000
Contributions in exchange for Dialectic investment			(55,256,333	)			-				-				-				(55,256,333	)
Redemptions in Dialectic investment			7,300,777				-				-				-				7,300,777
Sales			(2,634,113	)			-				(25,385	)			(98,912	)			(2,758,410	)
Exchange of ETH for NFTs			(1,756,820	)			-				-				-				(1,756,820	)
Yield			3,203				-				-				-				3,203
Unrealized gain (loss) on digital assets			(867,896	)			(2,269,958	)			(1,456,048	)			-				(4,593,902	)
Realized gain (loss) on digital assets			196,632				-				3,508				(150,925	)			49,215
Fees and other			91				-				(37	)			(163	)			(109	)
Balance, December 31, 2025		$	3,985,640			$	1,480,042			$	522,038			$	-			$	5,987,720

Unrealized and realized gains (losses) on digital assets are included in realized and change in unrealized gain (loss) on digital assets and investment in ETH in the consolidated statements of operations and comprehensive loss.

Digital asset holdings as of December 31, 2025, were as follows:

Schedule of digital asset holdings

Asset		Units Held				Fair Value				Cost Basis				Unrealized Gain (Loss)
ETH			1,343.31			$	3,985,640			$	4,853,536			$	(867,896	)
ANIME			205,561,447.29				1,480,042				3,750,000				(2,269,958	)
REKT			2,280,638,667,003.10				522,038				1,978,086				(1,456,048	)
Total						$	5,987,720			$	10,581,622			$	(4,593,902	)

In August and September 2025, the Company received 171.9 million ANIME tokens as non-cash consideration under an agency services agreement. An additional 33.7 million ANIME tokens were purchased in the open market as partial fulfillment required under the contract. Both tranches are subject to a six-month holding restriction beginning August 12, 2025. In accordance with ASC 820, no adjustment to fair value is made for this holder-specific restriction.

In August 2025, the Company received 2,305,905 million REKT tokens as non-cash consideration under an agency services agreement. The tokens are subject to a lockup as follows: Two-twelfths (2/12) will not have any restriction, the remaining ten-twelfths (10/12) will be subject to lock up, provided that on each monthly anniversary of the effective date the lock up will expire on one-tenth (1/10) of the initial total number of locked tokens such that on the tenth monthly anniversary of the effective date, the lock up shall have expired with respect to all of the tokens. Effective date for lockup start is August 28, 2025. In accordance with ASC 820, no adjustment to fair value is made for this holder-specific restriction.