NOTE 4 – CRYPTO ASSETS

Crypto Assets, at Fair Value

The following table sets forth the units held, cost basis, and fair value of crypto assets held, as shown on the consolidated balance sheet as of December 31, 2025:

Cost basis is equal to the cost of the crypto assets or fund subscription plus transaction fees, if any, at the time of purchase or upon receipt, and staking income. Fair value represents the quoted (unadjusted) prices on coinmarketcap.com or the Coinbase exchange as of midnight UTC on the measurement date. 

As of December 31, 2024, the Company did not hold any crypto assets.

The following table represents a reconciliation of crypto assets held at fair value:

Crypto Assets at Cost

The following table sets forth the units held, cost basis, and fair value of crypto assets held, as shown on the consolidated balance sheet as of December 31, 2025:

Cost basis is equal to the cost of the crypto assets plus transaction fees, if any, at the time of purchase or upon receipt. Adjusted carrying amount represents the costs of the crypto asset less impairment recorded.

The following table represents a reconciliation of crypto assets held at cost:

For the year ended December 31, 2025, the Company recorded an impairment loss of $39,916 related to its holdings of LsETH and mSOL in accordance with ASC 350-30, Intangibles—Goodwill and Other—General Intangibles Other Than Goodwill (See Note 2 - Crypto Assets). The impairment was recorded in the other income (expense) in the consolidated statements of operations. During the year ended December 31, 2025, the Company did not redeem any LsETH or mSOL and did not recognize any net gain or loss.