v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash $ 4,604,781 $ 12,094,950
Restricted cash 1,769,552 1,054,030
Accounts receivable, net 8,733,159 21,330,847
Digital assets 5,987,720
Government remittances 343,488 119,721
Promissory note receivable, current 379,405
Prepaid expenses and other current assets 771,902 1,493,619
Total current assets 22,210,602 36,472,572
Investments 383,503 2,199,909
Investment in ETH fund 41,374,063
Promissory note receivable, non-current 549,000 9,212,785
Property and equipment, net 114,054 303,950
Goodwill 5,912,230 12,704,979
Intangible assets, definite lived, net 5,414,452 15,265,736
Intangible assets, indefinite lived 1,945,962
Right-of-use assets 1,398,515 2,570,516
Total assets 79,302,381 78,730,447
Liabilities and Shareholders’ Equity    
Accounts payable 21,929,984 27,349,372
Accrued expenses and other current liabilities 6,788,876 13,694,179
Players liability account 47,535 47,535
Deferred revenue 3,952,295 2,726,121
Current portion of operating lease liability 441,485 748,916
Line of credit 3,501,457
Promissory notes payable, current 2,000,000
Convertible debt carried at fair value, current 6,481,704
Warrant liability 1,626,832 14,314
Deferred purchase consideration 3,996,548
Arbitration reserve 93,041 199,374
Total current liabilities 40,876,596 54,762,972
Convertible debt carried at fair value, non-current 9,908,784
Contingent purchase consideration, non-current 807,000
Deferred tax liability 810,704
Operating lease liability 1,154,341 2,054,443
Total liabilities 43,648,641 66,726,199
Commitments and contingencies (Note 20)
Preferred stock ($0.0001 par value, 50,000,000 authorized, 3,433 and 0 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively) 3,924,296
Common stock ($0.0001 par value, 100,000,000 shares authorized, 98,066,751 and 32,635,995 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively) 9,807 3,264
Additional paid-in capital 195,158,882 119,438,370
Treasury stock (580,715)
Accumulated other comprehensive loss (586,991) (208,617)
Non-controlling interest 14,942,287
Accumulated deficit (162,271,539) (122,171,056)
Total shareholders’ equity 35,653,740 12,004,248
Total liabilities and shareholders’ equity $ 79,302,381 $ 78,730,447