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S-4 VERIFYME, INC. NV 23-3023677 801 International Parkway Fifth Floor Lake Mary FL 32746 585 736-9400 Non-accelerated Filer true false <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> Year</td><td style="white-space: nowrap"> </td> <td colspan="2" style="white-space: nowrap">Summary compensation table total for PEO Stedham(1)</td><td style="white-space: nowrap"> </td><td style="white-space: nowrap"> </td> <td colspan="2" style="white-space: nowrap">Compensation actually paid to PEO Stedham(4)</td><td style="white-space: nowrap"> </td><td style="white-space: nowrap"> </td> <td colspan="2" style="white-space: nowrap">Summary compensation table total for PEO Greenberg(2)</td><td style="white-space: nowrap"> </td><td style="white-space: nowrap"> </td> <td colspan="2" style="white-space: nowrap">Compensation actually paid to PEO Greenberg(4)</td><td style="white-space: nowrap"> </td><td style="white-space: nowrap"> </td> <td colspan="2" style="white-space: nowrap">Summary compensation table total for PEO White(3)</td><td style="white-space: nowrap"> </td><td style="white-space: nowrap"> </td> <td colspan="2" style="white-space: nowrap">Compensation actually paid to PEO White(4)</td><td style="white-space: nowrap"> </td><td style="white-space: nowrap"> </td> <td colspan="2" style="white-space: nowrap">Average summary compensation table total for non-PEO named executive officers(5)</td><td style="white-space: nowrap"> </td><td style="white-space: nowrap"> </td> <td colspan="2" style="white-space: nowrap">Average compensation actually paid to non- PEO named executive officers(6)</td><td style="white-space: nowrap"> </td><td style="white-space: nowrap"> </td> <td colspan="2" style="white-space: nowrap">Value of initial fixed $100 investment based on Total shareholder return(7)</td><td style="white-space: nowrap"> </td><td style="white-space: nowrap"> </td> <td colspan="2" style="white-space: nowrap">Net income (loss) (in thousands)(8)</td><td style="white-space: nowrap"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; width: 10%; text-align: left">2025</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_980_eecd--PeoTotalCompAmt_c20250101__20251231__ecd--IndividualAxis__custom--AdamStedhamMember_zm9RvE2gyGCg" style="width: 6%; text-align: right">347,813</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_984_eecd--PeoActuallyPaidCompAmt_c20250101__20251231__ecd--IndividualAxis__custom--AdamStedhamMember_z4mf6oVU6dni" style="width: 6%; text-align: right">(122,498</td><td style="white-space: nowrap; width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">N/A</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">N/A</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">N/A</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">N/A</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98E_eecd--NonPeoNeoAvgTotalCompAmt_c20250101__20251231_zTLFGfC35WTi" style="width: 6%; text-align: right">153,007</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_988_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20250101__20251231_zLFpxHeKQMba" style="width: 6%; text-align: right">121,822</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_983_eecd--TotalShareholderRtnAmt_pp0n2_c20250101__20251231_z4YlwHBf9o78" style="width: 6%; text-align: right">51.79</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_982_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_pn3n3_c20250101__20251231_zmeF1fr0BLwh" style="width: 6%; text-align: right">(4,905</td><td style="white-space: nowrap; width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; text-align: left">2024</td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_984_eecd--PeoTotalCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--AdamStedhamMember_zoeYSfiN2739" style="text-align: right">312,094</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_986_eecd--PeoActuallyPaidCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--AdamStedhamMember_zmeEx48TOvMk" style="text-align: right">485,758</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">N/A</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">N/A</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">N/A</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">N/A</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_980_eecd--NonPeoNeoAvgTotalCompAmt_c20240101__20241231_zFxYHGOtS2Gk" style="text-align: right">230,194</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_980_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20240101__20241231_zh2AwHmQWHM6" style="text-align: right">223,757</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98D_eecd--TotalShareholderRtnAmt_pdn2_c20240101__20241231_zsVhsR3pXgd2" style="text-align: right">42.83</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_980_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_pn3n3_c20240101__20241231_zLXHIx6D3gsa" style="text-align: right">(3,824</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; text-align: justify">2023</td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_986_eecd--PeoTotalCompAmt_c20230101__20231231__ecd--IndividualAxis__custom--AdamStedhamMember_zoVsD7Q6Ymk8" style="text-align: right">1,145,819</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_983_eecd--PeoActuallyPaidCompAmt_c20230101__20231231__ecd--IndividualAxis__custom--AdamStedhamMember_zTmmkex8AVj3" style="text-align: right">538,126</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_989_eecd--PeoTotalCompAmt_c20230101__20231231__ecd--IndividualAxis__custom--ScottGreenbergMember_zCejPSQurQTe" style="text-align: right">213,069</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_988_eecd--PeoActuallyPaidCompAmt_c20230101__20231231__ecd--IndividualAxis__custom--ScottGreenbergMember_zCFH1h6wOVWa" style="text-align: right">113,941</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98C_eecd--NonPeoNeoAvgTotalCompAmt_c20230101__20231231__ecd--IndividualAxis__custom--PatrickWhiteMember_zdJGC0kYDW0i" style="text-align: right">396,177</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98C_eecd--PeoActuallyPaidCompAmt_c20230101__20231231__ecd--IndividualAxis__custom--PatrickWhiteMember_zMPCA5soGO4" style="text-align: right">232,100</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_984_eecd--NonPeoNeoAvgTotalCompAmt_c20230101__20231231_zHcsNLfEMF51" style="text-align: right">351,550</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_982_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20230101__20231231_zyzBBfqlAJJe" style="text-align: right">309,172</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_981_eecd--TotalShareholderRtnAmt_pdn2_c20230101__20231231_zegwIkkU5kRf" style="text-align: right">31.11</td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_980_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_pn3n3_c20230101__20231231_zyQtiZD80Hrl" style="text-align: right">(3,390</td><td style="white-space: nowrap; text-align: left">)</td></tr> </table> 347813 -122498 153007 121822 5179

-4905000

312094 485758 230194 223757 4283

-3824000

1145819 538126 213069 113941 396177 232100 351550 309172 3111

-3390000

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">1.</td><td style="text-align: justify">Reflects compensation for Adam Stedham, VerifyMe’s Chief Executive Officer for the years ended December 31, 2025 and 2024 as reported in the Summary Compensation Table above. Mr. Stedham was appointed as VerifyMe’s Chief Executive Officer on June 19, 2023. Mr. Stedham’s compensation for 2023 is reported in the Summary Compensation Table in VerifyMe’s proxy statement filed with the SEC on September 8, 2025 and includes compensation for the time he served as a non-employee director during fiscal year 2023.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">2.</td><td style="text-align: justify">Reflects compensation for Scott Greenberg, who was VerifyMe’s Interim Chief Executive Officer during fiscal year 2023 as reported in the Summary Compensation Table in VerifyMe’s proxy statement filed with the SEC on April 25, 2024. Mr. Greenberg served as VerifyMe’s Interim Chief Executive Officer between March 14, 2023 and June 19, 2023. Mr. Greenberg’s compensation for fiscal year 2023 includes an award of restricted stock with a grant date value equal to $125,000 for his service as a director in fiscal year 2023.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">3.</td><td style="text-align: justify">Reflects compensation for Patrick White, VerifyMe’s prior Chief Executive Officer, for fiscal years ended December 31, 2023 and 2022 as reported in the Summary Compensation Table in VerifyMe’s proxy statement filed with the SEC on April 25, 2024. Mr. White served as VerifyMe’s Chief Executive Officer and as a director of the company until March 14, 2023.</td></tr></table> Adam Stedham Adam Stedham Scott Greenberg Patrick White <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">4.</td><td style="text-align: justify">The dollar amounts reported in this column represent the amount of “compensation actually paid,” or CAP, to the PEOs in the applicable fiscal year, as computed in accordance with the SEC’s pay versus performance disclosure rules. The dollar amounts do not necessarily reflect the actual amount of compensation earned by or paid to the PEOs during the applicable fiscal year. The following table provides additional information as to the amounts deducted from and added to the Summary Compensation Table Total for fiscal year 2025 for the PEOs pursuant to the SEC’s rules to determine CAP to the PEOs:</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20250101__20251231__ecd--IndividualAxis__custom--AdamStedhamMember_zkMImK6xBnXa" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">PEO Stedham</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_40A_eecd--PeoTotalCompAmt_zudRtAzUFWhj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; width: 82%; font-weight: bold; text-align: left; padding-bottom: 1pt">Summary Compensation Table Total for PEO</td><td style="border-bottom: Black 1pt solid; width: 1%; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 15%; font-weight: bold; text-align: right">347,813</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic; text-align: left">Adjustments for stock awards and option awards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_40C_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--DeductAggregateValueForStockAwardsAndOptionAwardsIncludedInSCTTotalForTheCoveredFiscalYearMember_zc3ri2je5IKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">(Deduct): Aggregate value for stock awards and option awards included in SCT Total for the covered fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(32,813</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_40E_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueAtYearEndOfAwardsGrantedDuringTheCoveredFiscalYearThatWereOutstandingAndUnvestedAtTheCoveredFiscalYearEndMember_zK81NWgHRDx1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Add: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,265</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_400_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--YearOverYearChangeInFairValueAtCoveredFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearThatWereOutstandingAndUnvestedAtTheCoveredFiscalYearEndMember_zTZzEfaQiau6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Add (Deduct): Year-over-year change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(407,818</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_40C_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--VestingDateFairValueOfAwardsGrantedAndVestedDuringTheCoveredFiscalYearMember_zpoLkGrYCz53" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Add: Vesting date fair value of awards granted and vested during the covered fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_40B_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ChangeAsOfTheVestingDateFromTheEndOfThePriorFiscalYearInFairValueOfAwardsGrantedInAnyPriorFiscalYearForWhichVestingConditionsWereSatisfiedDuringTheCoveredFiscalYearMember_zXoxQ6R3xYsk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Add (Deduct): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(40,945</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_40B_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueAtEndOfPriorFiscalYearOfAwardsGrantedInAnyPriorFiscalYearThatFailedToMeetTheApplicableVestingConditionsDuringTheCoveredFiscalYearMember_zpeoRkSRwcMc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">(Deduct): Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_40E_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ChangeInIncrementalFairValueOfAwardsModifiedDuringTheCoveredFiscalYearMember_z4sBMXX3DSm6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Add: Change in incremental fair value of awards modified during the covered fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_40E_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--AggregateValueForStockAwardsAndOptionAwardsIncludedInSCTTotalForTheCoveredFiscalYearMember_zzwOeKAmsFf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Add: Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_402_eecd--PeoActuallyPaidCompAmt_zd8jxq0fsz7a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Compensation “Actually Paid” to PEO</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">(122,498</td><td style="white-space: nowrap; font-weight: bold; text-align: left">)</td></tr> </table> 347813 -32813 11265 -407818 -40945 -122498 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">5.</td><td style="text-align: justify">Reflects the average compensation for the non-PEO NEOs in each respective year based on compensation amounts reported in the Summary Compensation Table for the applicable year above and in VerifyMe’s proxy statement filed with the SEC on September 8, 2025. The non-PEO NEOs for fiscal year ended December 31, 2025 are Jennifer Cola, VerifyMe’s Chief Financial Officer, and Fred G. Volk, III, VP of Operations, PeriShip Global. The non-PEO NEOs for the fiscal year ended December 31, 2024 are Nancy Meyers, VerifyMe’s prior Chief Financial Officer, Fred G. Volk, III, Curt Kole, VerifyMe’s prior EVP of Precision Logistics, and Paul Ryan, VerifyMe’s prior EVP, Authentication segment. The non-PEO NEOs for the fiscal year ended December 31, 2023 were Ms. Meyers and Mr. Kole.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">6.</td><td style="text-align: justify">The dollar amounts reported in this column represent the average amount of CAP to the non-PEO NEOs in the applicable fiscal year, as computed in accordance with the SEC’s pay versus performance disclosure rules. The dollar amounts do not necessarily reflect the actual average amount of compensation earned by or paid to the non-PEO NEOs during the applicable fiscal year. The following table provides additional information as to the amounts deducted from and added to the Average Summary Compensation Table Total for fiscal year ended December 31, 2025 for non-PEO NEOs pursuant to the SEC’s rules to determine Average CAP to non-PEO NEOs:</td></tr></table> Adjustment to Compensation Amount <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20250101__20251231_zyI3FUSrtES8" style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">Other non-PEO NEOs (Average)</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_404_eecd--NonPeoNeoAvgTotalCompAmt_zcwNZwUdC1Ah" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; width: 82%; font-weight: bold; text-align: left; padding-bottom: 1pt">Summary compensation table total for non-PEO NEOs</td><td style="border-bottom: Black 1pt solid; width: 1%; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 15%; font-weight: bold; text-align: right">153,007</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic; text-align: left">Adjustments for stock awards and option awards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_40D_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--DeductAggregateValueForStockAwardsAndOptionAwardsIncludedInSCTTotalForTheCoveredFiscalYearMember_zevt4sDfkUBe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">(Deduct): Aggregate value for stock awards and option awards included in SCT Total for the covered fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,278</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_402_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueAtYearEndOfAwardsGrantedDuringTheCoveredFiscalYearThatWereOutstandingAndUnvestedAtTheCoveredFiscalYearEndMember_zfgWOKqf5P34" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Add: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,965</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_408_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--YearOverYearChangeInFairValueAtCoveredFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearThatWereOutstandingAndUnvestedAtTheCoveredFiscalYearEndMember_zEoB0vDPy0hc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Add (Deduct): Year-over-year change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,866</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_402_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--VestingDateFairValueOfAwardsGrantedAndVestedDuringTheCoveredFiscalYearMember_zB2M86u91z96" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Add: Vesting date fair value of awards granted and vested during the covered fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_40F_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ChangeAsOfTheVestingDateFromTheEndOfThePriorFiscalYearInFairValueOfAwardsGrantedInAnyPriorFiscalYearForWhichVestingConditionsWereSatisfiedDuringTheCoveredFiscalYearMember_zOWi29P488wd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Add (Deduct): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,495</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_407_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueAtEndOfPriorFiscalYearOfAwardsGrantedInAnyPriorFiscalYearThatFailedToMeetTheApplicableVestingConditionsDuringTheCoveredFiscalYearMember_zYMDmWKhE4Bj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">(Deduct): Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(511</td><td style="white-space: nowrap; text-align: left">)</td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_40A_eecd--AdjToCompAmt_hecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ChangeInIncrementalFairValueOfAwardsModifiedDuringTheCoveredFiscalYearMember_zJePLFSCx44d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Add: Change in incremental fair value of awards modified during the covered fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Add: Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_90E_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AggregateValueForStockAwardsAndOptionAwardsIncludedInSCTTotalForTheCoveredFiscalYearMember_zxgXxPmMsjD5" title="Adjustment to Compensation Amount">-</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_403_eecd--NonPeoNeoAvgCompActuallyPaidAmt_zgqbFZfUjF2c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Compensation “Actually Paid” to non-PEO NEOs</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">121,822</td><td style="white-space: nowrap; font-weight: bold; text-align: left"> </td></tr> </table> 153007 -19278 10965 -19866 -2495 -511 121822 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">7.</td><td style="text-align: justify">Total Shareholder Return reflects the cumulative return of a $100 investment from the beginning of the fiscal year ended December 31, 2023 through the end of each of the fiscal years in the table, calculated in accordance with Item 201(e) of Regulation S-K.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">8.</td><td style="text-align: justify">Reflects Net Income (Loss) as reported in VerifyMe’s Consolidated Statement of Operations and Consolidated Statements of Comprehensive Income/(Loss) included in VerifyMe’s annual reports on Form 10-K for the respective fiscal years.</td></tr></table> <img alt="" src="p46262s4_grapha.jpg"/> <img alt="" src="p46262s4_graphb.jpg"/>

4353000

2823000

10000

71000

857000

2636000

12000 0

1988000

338000 733000

154000

131000

37000

39000

7727000

6362000

20000

116000

236000

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NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of the Business VerifyMe, Inc. (“VerifyMe,” “we,” “us,” “our,” or the “Company”) was incorporated in the State of Nevada on November 10, 1999. VerifyMe, is based in Lake Mary, Florida and its common stock, par value $0.001 per share is traded on The Nasdaq Capital Market (“Nasdaq”) under the trading symbol “VRME”. The Company is a logistics company that specializes in time and temperature sensitive products, as well as providing brand protection and enhancement solutions. The Company operates a Precision Logistics segment which includes the operations of our subsidiary PeriShip Global, LLC (“PeriShip Global”) which accounts for nearly all VerifyMe revenue, and an Authentication segment. Through our Precision Logistics segment, we provide a value-added service for sensitive parcel management driven by a proprietary software platform that provides predictive analytics from key metrics such as pre-shipment weather analysis, flight-tracking, sort volumes, and traffic, delivered to customers via a secure portal. The portal provides real-time visibility into shipment transit and last-mile events which is supported by a service center. Through our Authentication segment our technologies enable brand owners to deter counterfeit activities. Further information regarding our business segments is discussed below. The Company’s activities are subject to significant risks and uncertainties. See the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections in this proxy statement/prospectus. Reclassifications Certain amounts presented for the year ended December 31, 2024, reflect reclassifications made to conform to the presentation in our current reporting period. These reclassifications had no effect on the previously reported net loss. Basis of Presentation The accompanying consolidated financial statements include the accounts of VerifyMe and its wholly owned subsidiary PeriShip Global. All significant intercompany balances and transactions have been eliminated upon consolidation. The consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Recent Accounting Pronouncements In December 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies the applicability of the interim reporting guidance, the types of interim reporting, and the form and content of interim financial statements in accordance with U.S. generally accepted accounting principles. Per the FASB, the amendment does not intend to change the fundamental nature of interim reporting or expand or reduce current interim disclosure requirements but rather provide clarity and improve navigability of the existing interim reporting requirements. The update will be effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. We are assessing the effect of this update on our consolidated financial statements and related disclosures. In November 2025, the FASB issued ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements, which introduces five targeted improvements to better align hedge accounting with entities’ risk management activities. The update will be effective for annual reporting periods beginning after December 15, 2026, and interim periods within those annual reporting periods. Early adoption is permitted. We are assessing the effect of this update on our consolidated financial statements and related disclosures. In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which simplifies the application of the current expected credit loss model for current accounts receivable and current contract assets under Accounting Standards Codification 606. The update will be effective for annual reporting periods beginning after December 15, 2025, and interim periods within those annual reporting periods. Early adoption is permitted. We are assessing the effect of this update on our consolidated financial statements and related disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The guidance requires disclosure of disaggregated income taxes paid, prescribes standardized categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU 2023-09 is effective for the Company’s annual periods beginning January 1, 2025, with early adoption permitted. The Company adopted ASU 2023-09 on a prospective basis for the year ended December 31, 2025 In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Topic 220). This standard requires disclosure of specific information about costs and expenses. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the potential effect that the updated standard will have on their financial statement disclosures. Fair Value of Financial Instruments The Company’s financial instruments consist of accounts receivable, note receivable, unbilled revenue, accounts payable, notes payable and accrued expenses, and equity investments. The carrying value of accounts receivable, note receivable, unbilled revenue, accounts payable and accrued expenses approximate their fair value because of their short maturities. The Company believes the carrying amount of its notes payable approximates fair value based on rates and other terms currently available to the Company for similar debt instruments. The Company follows FASB Accounting Standard Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures, and applies it to all assets and liabilities that are being measured and reported on a fair value basis. The statement requires that assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data Level 3: Unobservable inputs that are not corroborated by market data The level in the fair value within which a fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The following table presents the Company’s financial instruments that are measured and recorded at fair value on the Company’s balance sheets on a recurring basis, and their level within the fair value hierarchy as of December 31, 2025 and December 31, 2024. Amounts in Thousands ('000) <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisTextBlock_pn3n3_zMGsE8X74DIf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 50%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of fair value assets measured on recurring basis</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Derivative Asset</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">(Level 2)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%">Balance as of December 31, 2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilitiesNoncurrent_iS_pn3n3_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zUXzYKSH2OS1" title="Derivative Liability at beginning">12</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Termination of SWAP, recognized in other comprehensive loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_ecustom--ChangeInFairValueOfContingentConsideration_pn3n3_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zysbtAamIu03" title="Change in fair value of contingent consideration">(12</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at December 31, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilitiesNoncurrent_iE_pn3n3_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zUNY7SfMZb7g" title="Derivative Liability at end">-</td><td style="text-align: left"> </td></tr> </table> Segment Reporting Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker, or decision-making group, in deciding the method by which to allocate resources and assess performance. The Company has two reportable segments, namely, (i) Precision Logistics and (ii) Authentication. See Note 15 – Segment Reporting, for further discussion of the Company’s segment reporting structure. Basic and Diluted Net Loss per Share of Common Stock The Company follows ASC Topic 260, Earnings Per Share, when reporting earnings per share resulting in the presentation of basic and diluted earnings per share. Because the Company reported a net loss for each of the periods presented, common stock equivalents, including preferred stock, stock options and warrants were anti-dilutive; therefore, the amounts reported for basic and diluted loss per share were the same. For the year ended December 31, 2025, there were shares potentially issuable, that could dilute basic earnings per share in the future that were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive to the Company’s losses during the years presented. For the year ended December 31, 2025, there were approximately 3,976,000 anti-dilutive shares consisting of <span id="xdx_908_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zXU6FezmvXse" title="Anti-dilutive shares">1,322,000 unvested performance restricted stock units, <span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zYGXeKfuIyi3" title="Anti-dilutive shares">303,000 restricted stock units and restricted stock awards <span id="xdx_90B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--WarrantsMember_zyOhOnI0WDQ1" title="Anti-dilutive shares">1,555,000 shares issuable upon exercise of warrants, <span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvetibleDebtMember_zkfiXzDpT0Ag" title="Anti-dilutive shares">652,000 shares issuable upon conversion of convertible debt, and <span id="xdx_90E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PreferredStocksMember_zanYYbZTqBC1" title="Anti-dilutive shares">144,000 shares issuable upon conversion of preferred stock. For the year ended December 31, 2024, there were approximately 7,971,000 anti-dilutive shares consisting of <span id="xdx_908_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zFRxMkhIReab" title="Anti-dilutive shares">1,606,000 unvested performance restricted stock units, <span id="xdx_905_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zse0a8lgnpwe" title="Anti-dilutive shares">414,000 restricted stock units and restricted stock awards, <span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--StockOptionMember_zCyDrWGXSveb" title="Anti-dilutive shares">221,000 shares issuable upon exercise of stock options, <span id="xdx_90A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--WarrantsMember_z2SPCwM9yQed" title="Anti-dilutive shares">4,629,000 shares issuable upon exercise of warrants, <span id="xdx_908_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvetibleDebtMember_z4L3IhVxiY3i" title="Anti-dilutive shares">957,000 shares issuable upon conversion of convertible debt, and <span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PreferredStocksMember_za3rhTF3gWX6" title="Anti-dilutive shares">144,000 shares issuable upon conversion of preferred stock. Concentration of Credit Risk Involving Cash and Cash Equivalents The Company’s cash and cash equivalents are held at various financial institutions. At times, the Company’s deposits may exceed Federal Deposit Insurance Corporation (FDIC) coverage limits which are currently set at $250,000 per depositor. The Company has not experienced any losses from maintaining cash accounts in excess of federally insured limits. Accounts Receivable Trade accounts receivable are periodically evaluated for collectability based on past credit history with customers and their current financial condition. Bad debts expense or write offs of receivables are determined on the basis of loss experience, known and inherent risks in the receivable portfolio and current economic conditions. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, such allowances may be required. The Company recognized $8 thousand and $22 thousand for allowance for credit losses as of December 31, 2025, and 2024, respectively. Note Receivable Notes receivable are recorded at the principal amount outstanding, plus accrued interest. The Company evaluates the credit quality of notes receivable in accordance with ASC Topic 310, Receivables, and assesses collectability based on historical experience, the financial condition of borrowers, and other relevant information. Interest income is recognized using the interest method when collection of principal and interest is considered probable. Notes are considered past due when payments are not received in accordance with contractual terms. Inventory Inventory principally consists of canisters and pigments and is stated at the lower of cost (determined by the first-in, first-out method) or net realizable value. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value of the assets. Capitalized Software Costs incurred in connection with the development of software related to our proprietary proactive end-to-end logistics management products are accounted for in accordance with ASC Topic 350, Hosting Arrangements and Internally Used Software. Costs incurred prior to the establishment of technological feasibility are charged to research and development expense. Software development costs are capitalized after a product is determined to be technologically feasible and is in the process of being developed for market. Amortization of capitalized software development costs begins once the product is available to the market. Capitalized software development costs are amortized over the estimated life of the related product, generally six years, using the straight-line method. The Company will evaluate its software assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Long-Lived Assets The Company evaluates the recoverability of its long-lived assets in accordance with ASC Topic 360, Property, Plant, and Equipment. The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets are measured by a comparison of the carrying amount of an asset to future cash flows expected to be generated by the asset, undiscounted and without interest or independent appraisals. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value of the assets. Goodwill Goodwill represents the excess of purchase price over the fair value of net assets acquired in business combinations. Pursuant to ASC Topic 350, Intangibles-Goodwill and Other, the Company tests goodwill for impairment on an annual basis in the fourth quarter, or between annual tests, in certain circumstances. Under authoritative guidance, the Company first assessed qualitative factors to determine whether it was necessary to perform the quantitative goodwill impairment test. The assessment considers factors such as, but not limited to, macroeconomic conditions, data showing other companies in the industry and our share price. An entity is not required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. Events or changes in circumstances which could trigger an impairment review include macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, other entity specific events, and sustained decrease in share price. Derivative Instruments The Company evaluates its equity investments, long-term derivative liabilities, preferred stock, warrants or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC Topic 480, Distinguish by Liabilities from Equity and ASC Topic 815, Derivatives and Hedging. The result of this accounting treatment is that the fair value of the embedded derivative, if required to be bifurcated, is marked-to-market at each balance sheet date and recorded as an asset or liability. The change in fair value is recorded in the Consolidated Statement of Operations as a component of other income or expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. In circumstances where the embedded conversion option in a convertible instrument is required to be bifurcated and there are also other embedded derivative instruments in the convertible instrument that are required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. The classification of derivative instruments, including whether such instruments should be recorded as assets, liabilities or as equity, is re-assessed at the end of each reporting period. Equity instruments that are initially classified as equity that become subject to reclassification are reclassified as assets or liabilities at the fair value of the instrument on the reclassification date. Derivative instruments as assets or liabilities will be classified in the balance sheet as current or non-current based on whether net-cash settlement of the derivative instrument is expected within 12 months of the balance sheet date. Revenue Recognition The Company accounts for revenues according to ASC Topic 606, Revenue from Contracts with Customers which establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers. The Company applies the following five steps, separated by reportable segments, in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements. For more detailed information about reportable segments, see Note 15 – Segment reporting. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>identify the contract with a customer;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>identify the performance obligations in the contract;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>determine the transaction price;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>allocate the transaction price to performance obligations in the contract; and</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>recognize revenue as the performance obligation is satisfied.</td></tr></table> The Company generally considers completion of an agreement, or Statement of Work (“SOW”) and/or purchase order as a customer contract, provided collection is considered probable. Precision Logistics Our Precision Logistics segment consists of two service lines, ProActive and Premium. Under our ProActive service line, clients pay us directly for carrier service coupled with our proactive logistics service. Terms typically range 7 days and no longer than 30 days. The Company has determined it is the principal and recognizes shipment fees in gross revenue. Under our Premium service line, clients use our shipping monitoring, predictive analytics, or exception management services. Shippers use their own transportation rates, provided and charged directly by their carrier, with our added services charged (i) directly by the carrier, under a “white label” arrangement, which we refer to as our Premium service, or (ii) by us, which we refer to as our Direct Premium service. These services include customer web portal access, weather monitoring, temperature control, full-service center support and last mile resolution. Under both service lines in our Precision Logistics segment, our performance obligation is met, and revenue is recognized when the packages are delivered. The transaction fees consist of fixed consideration made up of amounts contractually billed to the customer. There are no variable considerations in the transaction fee, in either service line. Authentication Our Authentication segment primarily consists of anti-counterfeit and brand protection. Terms typically range between 30 and 60 days. Our performance obligation is met, and revenue is recognized when our products are shipped or delivered depending on the specific agreement with the customer. The transaction fee is made up of fixed consideration based on the related purchase order or agreement. Warranties and other variable considerations are analyzed by the Company, in terms of historical warranties, current economic trends, and changes in customer demand, and have been determined to be insignificant in the twelve months ended December 31, 2025. Stock-Based Compensation We account for stock-based compensation under the provisions of ASC Topic 718, Compensation—Stock Compensation, which requires the measurement and recognition of compensation expense for all stock-based awards made to employees and directors based on estimated fair values on the grant date. We estimate the fair value of stock-based awards on the date of grant using the Black-Scholes model. The assumptions used in the Black-Scholes option pricing model include risk-free interest rates, expected volatility, and expected life of the stock options. Changes in these assumptions can materially affect estimates of fair value stock-based compensation, and the compensation expense recorded in future periods. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods using the straight-line method. We recognize forfeitures as they occur with a reduction in compensation expense in the period of forfeiture. For performance restricted stock units (“RSU”) with stock price appreciation targets (see Note 10 – Stock Options, Restricted Stock and Warrants), we applied a lattice approach that incorporated a Monte Carlo simulation, which involved random iterations that took different future price paths over the RSU’s contractual life based on the appropriate probability distributions (which are based on commonly applied Black Scholes inputs). The fair value was determined by taking the average of the grant date fair values under each Monte Carlo simulation trial. We recognize compensation expense on a straight-line basis over the performance period and there is no ongoing adjustment or reversal based on actual achievement during the period. We account for stock-based compensation awards to non-employees in accordance with ASU No. 2018-07, Compensation – Stock Based Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which aligns accounting for share-based payments issued to nonemployees to that of employees under the existing guidance of Topic 718, with certain exceptions. All issuances of stock options or other equity instruments to non-employees as consideration for goods or services received by the Company are accounted for based on the fair value of the equity instruments issued. Non-employee equity-based payments are recorded as an expense over the service period, as if we had paid cash for the services. Advertising Costs Advertising costs are expensed as incurred. Advertising costs were $33 thousand and $3 thousand for the years ended December 31, 2025, and 2024, respectively, and are included in Sales and Marketing on the Consolidated Statements of Operations. Research and Development Costs In accordance with ASC Topic 730, Research and Development, research and development costs are expensed when incurred. Research and development costs for the years ended December 31, 2025, and 2024 were $20 thousand and $70 thousand, respectively. Income Taxes The Company follows ASC Topic 740, Income Taxes, when accounting for income taxes, which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed annually for temporary differences between the financial statements and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities. Tax years from 2006 remain subject to examination by major tax jurisdictions due the carryforward of unutilized NOLs. The Company adopted ASU 2023-09 on a prospective basis for the year ended December 31, 2025

Nature of the Business VerifyMe, Inc. (“VerifyMe,” “we,” “us,” “our,” or the “Company”) was incorporated in the State of Nevada on November 10, 1999. VerifyMe, is based in Lake Mary, Florida and its common stock, par value $0.001 per share is traded on The Nasdaq Capital Market (“Nasdaq”) under the trading symbol “VRME”. The Company is a logistics company that specializes in time and temperature sensitive products, as well as providing brand protection and enhancement solutions. The Company operates a Precision Logistics segment which includes the operations of our subsidiary PeriShip Global, LLC (“PeriShip Global”) which accounts for nearly all VerifyMe revenue, and an Authentication segment. Through our Precision Logistics segment, we provide a value-added service for sensitive parcel management driven by a proprietary software platform that provides predictive analytics from key metrics such as pre-shipment weather analysis, flight-tracking, sort volumes, and traffic, delivered to customers via a secure portal. The portal provides real-time visibility into shipment transit and last-mile events which is supported by a service center. Through our Authentication segment our technologies enable brand owners to deter counterfeit activities. Further information regarding our business segments is discussed below. The Company’s activities are subject to significant risks and uncertainties. See the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections in this proxy statement/prospectus.

0.001

Reclassifications Certain amounts presented for the year ended December 31, 2024, reflect reclassifications made to conform to the presentation in our current reporting period. These reclassifications had no effect on the previously reported net loss.

Basis of Presentation The accompanying consolidated financial statements include the accounts of VerifyMe and its wholly owned subsidiary PeriShip Global. All significant intercompany balances and transactions have been eliminated upon consolidation. The consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

Recent Accounting Pronouncements In December 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies the applicability of the interim reporting guidance, the types of interim reporting, and the form and content of interim financial statements in accordance with U.S. generally accepted accounting principles. Per the FASB, the amendment does not intend to change the fundamental nature of interim reporting or expand or reduce current interim disclosure requirements but rather provide clarity and improve navigability of the existing interim reporting requirements. The update will be effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. We are assessing the effect of this update on our consolidated financial statements and related disclosures. In November 2025, the FASB issued ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements, which introduces five targeted improvements to better align hedge accounting with entities’ risk management activities. The update will be effective for annual reporting periods beginning after December 15, 2026, and interim periods within those annual reporting periods. Early adoption is permitted. We are assessing the effect of this update on our consolidated financial statements and related disclosures. In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which simplifies the application of the current expected credit loss model for current accounts receivable and current contract assets under Accounting Standards Codification 606. The update will be effective for annual reporting periods beginning after December 15, 2025, and interim periods within those annual reporting periods. Early adoption is permitted. We are assessing the effect of this update on our consolidated financial statements and related disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The guidance requires disclosure of disaggregated income taxes paid, prescribes standardized categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU 2023-09 is effective for the Company’s annual periods beginning January 1, 2025, with early adoption permitted. The Company adopted ASU 2023-09 on a prospective basis for the year ended December 31, 2025 In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Topic 220). This standard requires disclosure of specific information about costs and expenses. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the potential effect that the updated standard will have on their financial statement disclosures.

Fair Value of Financial Instruments The Company’s financial instruments consist of accounts receivable, note receivable, unbilled revenue, accounts payable, notes payable and accrued expenses, and equity investments. The carrying value of accounts receivable, note receivable, unbilled revenue, accounts payable and accrued expenses approximate their fair value because of their short maturities. The Company believes the carrying amount of its notes payable approximates fair value based on rates and other terms currently available to the Company for similar debt instruments. The Company follows FASB Accounting Standard Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures, and applies it to all assets and liabilities that are being measured and reported on a fair value basis. The statement requires that assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data Level 3: Unobservable inputs that are not corroborated by market data The level in the fair value within which a fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The following table presents the Company’s financial instruments that are measured and recorded at fair value on the Company’s balance sheets on a recurring basis, and their level within the fair value hierarchy as of December 31, 2025 and December 31, 2024. Amounts in Thousands ('000) <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisTextBlock_pn3n3_zMGsE8X74DIf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 50%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of fair value assets measured on recurring basis</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Derivative Asset</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">(Level 2)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%">Balance as of December 31, 2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilitiesNoncurrent_iS_pn3n3_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zUXzYKSH2OS1" title="Derivative Liability at beginning">12</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Termination of SWAP, recognized in other comprehensive loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_ecustom--ChangeInFairValueOfContingentConsideration_pn3n3_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zysbtAamIu03" title="Change in fair value of contingent consideration">(12</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at December 31, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilitiesNoncurrent_iE_pn3n3_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zUNY7SfMZb7g" title="Derivative Liability at end">-</td><td style="text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisTextBlock_pn3n3_zMGsE8X74DIf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 50%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of fair value assets measured on recurring basis</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Derivative Asset</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">(Level 2)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%">Balance as of December 31, 2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilitiesNoncurrent_iS_pn3n3_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zUXzYKSH2OS1" title="Derivative Liability at beginning">12</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Termination of SWAP, recognized in other comprehensive loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_ecustom--ChangeInFairValueOfContingentConsideration_pn3n3_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zysbtAamIu03" title="Change in fair value of contingent consideration">(12</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at December 31, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilitiesNoncurrent_iE_pn3n3_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zUNY7SfMZb7g" title="Derivative Liability at end">-</td><td style="text-align: left"> </td></tr> </table>

12000

-12000

Segment Reporting Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker, or decision-making group, in deciding the method by which to allocate resources and assess performance. The Company has two reportable segments, namely, (i) Precision Logistics and (ii) Authentication. See Note 15 – Segment Reporting, for further discussion of the Company’s segment reporting structure.

Basic and Diluted Net Loss per Share of Common Stock The Company follows ASC Topic 260, Earnings Per Share, when reporting earnings per share resulting in the presentation of basic and diluted earnings per share. Because the Company reported a net loss for each of the periods presented, common stock equivalents, including preferred stock, stock options and warrants were anti-dilutive; therefore, the amounts reported for basic and diluted loss per share were the same. For the year ended December 31, 2025, there were shares potentially issuable, that could dilute basic earnings per share in the future that were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive to the Company’s losses during the years presented. For the year ended December 31, 2025, there were approximately 3,976,000 anti-dilutive shares consisting of <span id="xdx_908_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zXU6FezmvXse" title="Anti-dilutive shares">1,322,000 unvested performance restricted stock units, <span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zYGXeKfuIyi3" title="Anti-dilutive shares">303,000 restricted stock units and restricted stock awards <span id="xdx_90B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--WarrantsMember_zyOhOnI0WDQ1" title="Anti-dilutive shares">1,555,000 shares issuable upon exercise of warrants, <span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvetibleDebtMember_zkfiXzDpT0Ag" title="Anti-dilutive shares">652,000 shares issuable upon conversion of convertible debt, and <span id="xdx_90E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PreferredStocksMember_zanYYbZTqBC1" title="Anti-dilutive shares">144,000 shares issuable upon conversion of preferred stock. For the year ended December 31, 2024, there were approximately 7,971,000 anti-dilutive shares consisting of <span id="xdx_908_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zFRxMkhIReab" title="Anti-dilutive shares">1,606,000 unvested performance restricted stock units, <span id="xdx_905_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zse0a8lgnpwe" title="Anti-dilutive shares">414,000 restricted stock units and restricted stock awards, <span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--StockOptionMember_zCyDrWGXSveb" title="Anti-dilutive shares">221,000 shares issuable upon exercise of stock options, <span id="xdx_90A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--WarrantsMember_z2SPCwM9yQed" title="Anti-dilutive shares">4,629,000 shares issuable upon exercise of warrants, <span id="xdx_908_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvetibleDebtMember_z4L3IhVxiY3i" title="Anti-dilutive shares">957,000 shares issuable upon conversion of convertible debt, and <span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PreferredStocksMember_za3rhTF3gWX6" title="Anti-dilutive shares">144,000 shares issuable upon conversion of preferred stock.

3976000

1322000

303000

1555000

652000

144000

7971000

1606000

414000

221000

4629000

957000

144000

Concentration of Credit Risk Involving Cash and Cash Equivalents The Company’s cash and cash equivalents are held at various financial institutions. At times, the Company’s deposits may exceed Federal Deposit Insurance Corporation (FDIC) coverage limits which are currently set at $250,000 per depositor. The Company has not experienced any losses from maintaining cash accounts in excess of federally insured limits.

250000

Accounts Receivable Trade accounts receivable are periodically evaluated for collectability based on past credit history with customers and their current financial condition. Bad debts expense or write offs of receivables are determined on the basis of loss experience, known and inherent risks in the receivable portfolio and current economic conditions. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, such allowances may be required. The Company recognized $8 thousand and $22 thousand for allowance for credit losses as of December 31, 2025, and 2024, respectively.

8000

22000

Note Receivable Notes receivable are recorded at the principal amount outstanding, plus accrued interest. The Company evaluates the credit quality of notes receivable in accordance with ASC Topic 310, Receivables, and assesses collectability based on historical experience, the financial condition of borrowers, and other relevant information. Interest income is recognized using the interest method when collection of principal and interest is considered probable. Notes are considered past due when payments are not received in accordance with contractual terms.

Inventory Inventory principally consists of canisters and pigments and is stated at the lower of cost (determined by the first-in, first-out method) or net realizable value. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value of the assets.

Capitalized Software Costs incurred in connection with the development of software related to our proprietary proactive end-to-end logistics management products are accounted for in accordance with ASC Topic 350, Hosting Arrangements and Internally Used Software. Costs incurred prior to the establishment of technological feasibility are charged to research and development expense. Software development costs are capitalized after a product is determined to be technologically feasible and is in the process of being developed for market. Amortization of capitalized software development costs begins once the product is available to the market. Capitalized software development costs are amortized over the estimated life of the related product, generally six years, using the straight-line method. The Company will evaluate its software assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable.

Long-Lived Assets The Company evaluates the recoverability of its long-lived assets in accordance with ASC Topic 360, Property, Plant, and Equipment. The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets are measured by a comparison of the carrying amount of an asset to future cash flows expected to be generated by the asset, undiscounted and without interest or independent appraisals. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value of the assets.

Goodwill Goodwill represents the excess of purchase price over the fair value of net assets acquired in business combinations. Pursuant to ASC Topic 350, Intangibles-Goodwill and Other, the Company tests goodwill for impairment on an annual basis in the fourth quarter, or between annual tests, in certain circumstances. Under authoritative guidance, the Company first assessed qualitative factors to determine whether it was necessary to perform the quantitative goodwill impairment test. The assessment considers factors such as, but not limited to, macroeconomic conditions, data showing other companies in the industry and our share price. An entity is not required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. Events or changes in circumstances which could trigger an impairment review include macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, other entity specific events, and sustained decrease in share price.

Derivative Instruments The Company evaluates its equity investments, long-term derivative liabilities, preferred stock, warrants or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC Topic 480, Distinguish by Liabilities from Equity and ASC Topic 815, Derivatives and Hedging. The result of this accounting treatment is that the fair value of the embedded derivative, if required to be bifurcated, is marked-to-market at each balance sheet date and recorded as an asset or liability. The change in fair value is recorded in the Consolidated Statement of Operations as a component of other income or expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. In circumstances where the embedded conversion option in a convertible instrument is required to be bifurcated and there are also other embedded derivative instruments in the convertible instrument that are required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. The classification of derivative instruments, including whether such instruments should be recorded as assets, liabilities or as equity, is re-assessed at the end of each reporting period. Equity instruments that are initially classified as equity that become subject to reclassification are reclassified as assets or liabilities at the fair value of the instrument on the reclassification date. Derivative instruments as assets or liabilities will be classified in the balance sheet as current or non-current based on whether net-cash settlement of the derivative instrument is expected within 12 months of the balance sheet date.

Revenue Recognition The Company accounts for revenues according to ASC Topic 606, Revenue from Contracts with Customers which establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers. The Company applies the following five steps, separated by reportable segments, in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements. For more detailed information about reportable segments, see Note 15 – Segment reporting. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>identify the contract with a customer;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>identify the performance obligations in the contract;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>determine the transaction price;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>allocate the transaction price to performance obligations in the contract; and</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>recognize revenue as the performance obligation is satisfied.</td></tr></table> The Company generally considers completion of an agreement, or Statement of Work (“SOW”) and/or purchase order as a customer contract, provided collection is considered probable. Precision Logistics Our Precision Logistics segment consists of two service lines, ProActive and Premium. Under our ProActive service line, clients pay us directly for carrier service coupled with our proactive logistics service. Terms typically range 7 days and no longer than 30 days. The Company has determined it is the principal and recognizes shipment fees in gross revenue. Under our Premium service line, clients use our shipping monitoring, predictive analytics, or exception management services. Shippers use their own transportation rates, provided and charged directly by their carrier, with our added services charged (i) directly by the carrier, under a “white label” arrangement, which we refer to as our Premium service, or (ii) by us, which we refer to as our Direct Premium service. These services include customer web portal access, weather monitoring, temperature control, full-service center support and last mile resolution. Under both service lines in our Precision Logistics segment, our performance obligation is met, and revenue is recognized when the packages are delivered. The transaction fees consist of fixed consideration made up of amounts contractually billed to the customer. There are no variable considerations in the transaction fee, in either service line. Authentication Our Authentication segment primarily consists of anti-counterfeit and brand protection. Terms typically range between 30 and 60 days. Our performance obligation is met, and revenue is recognized when our products are shipped or delivered depending on the specific agreement with the customer. The transaction fee is made up of fixed consideration based on the related purchase order or agreement. Warranties and other variable considerations are analyzed by the Company, in terms of historical warranties, current economic trends, and changes in customer demand, and have been determined to be insignificant in the twelve months ended December 31, 2025.

Stock-Based Compensation We account for stock-based compensation under the provisions of ASC Topic 718, Compensation—Stock Compensation, which requires the measurement and recognition of compensation expense for all stock-based awards made to employees and directors based on estimated fair values on the grant date. We estimate the fair value of stock-based awards on the date of grant using the Black-Scholes model. The assumptions used in the Black-Scholes option pricing model include risk-free interest rates, expected volatility, and expected life of the stock options. Changes in these assumptions can materially affect estimates of fair value stock-based compensation, and the compensation expense recorded in future periods. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods using the straight-line method. We recognize forfeitures as they occur with a reduction in compensation expense in the period of forfeiture. For performance restricted stock units (“RSU”) with stock price appreciation targets (see Note 10 – Stock Options, Restricted Stock and Warrants), we applied a lattice approach that incorporated a Monte Carlo simulation, which involved random iterations that took different future price paths over the RSU’s contractual life based on the appropriate probability distributions (which are based on commonly applied Black Scholes inputs). The fair value was determined by taking the average of the grant date fair values under each Monte Carlo simulation trial. We recognize compensation expense on a straight-line basis over the performance period and there is no ongoing adjustment or reversal based on actual achievement during the period. We account for stock-based compensation awards to non-employees in accordance with ASU No. 2018-07, Compensation – Stock Based Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which aligns accounting for share-based payments issued to nonemployees to that of employees under the existing guidance of Topic 718, with certain exceptions. All issuances of stock options or other equity instruments to non-employees as consideration for goods or services received by the Company are accounted for based on the fair value of the equity instruments issued. Non-employee equity-based payments are recorded as an expense over the service period, as if we had paid cash for the services.

Advertising Costs Advertising costs are expensed as incurred. Advertising costs were $33 thousand and $3 thousand for the years ended December 31, 2025, and 2024, respectively, and are included in Sales and Marketing on the Consolidated Statements of Operations.

33000

3000

Research and Development Costs In accordance with ASC Topic 730, Research and Development, research and development costs are expensed when incurred. Research and development costs for the years ended December 31, 2025, and 2024 were $20 thousand and $70 thousand, respectively.

20000

70000

Income Taxes The Company follows ASC Topic 740, Income Taxes, when accounting for income taxes, which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed annually for temporary differences between the financial statements and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities. Tax years from 2006 remain subject to examination by major tax jurisdictions due the carryforward of unutilized NOLs. The Company adopted ASU 2023-09 on a prospective basis for the year ended December 31, 2025

NOTE 2 - NOTE RECEIVABLE ZenCredit Agreement On August 8, 2025, we entered into a Master Loan Agreement and Promissory Note (the “Loan Agreement”) with ZenCredit Ventures, LLC (“ZenCredit”). Pursuant to the Loan Agreement, we agreed to loan ZenCredit up to $2 million. Pursuant to the terms of the Loan Agreement, ZenCredit will pay us regular quarterly interest payments at an annual interest rate of <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20250801__20250811__us-gaap--TransactionTypeAxis__custom--LoanAgreementMember__srt--CounterpartyNameAxis__custom--ZenCreditMember_zBXn7TjthnF8" title="Interest rate">16%. The term of the initial promissory note is nine months at which time all accrued principal and interest is due to us unless we elect to make an Additional Loan (as such term is defined in the Loan Agreement) subject to the terms of the Loan Agreement. On August 11, 2025, we loaned ZenCredit $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_dm_c20250811__us-gaap--TransactionTypeAxis__custom--LoanAgreementMember__srt--CounterpartyNameAxis__custom--ZenCreditMember_zFuGrjco6uE4" title="Principal amount">2 million in exchange for a promissory note issued pursuant to the Loan Agreement. As of December 31, 2025, the Company has received $<span id="xdx_904_eus-gaap--InterestPaid_pn3n3_c20250101__20251231__us-gaap--TransactionTypeAxis__custom--LoanAgreementMember__srt--CounterpartyNameAxis__custom--ZenCreditMember_zpTKNO1c2lRb" title="Interest payments">80 thousand in interest payments. As of December 31, 2025, the Company reserved $<span id="xdx_90B_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_pn3n3_c20251231__us-gaap--TransactionTypeAxis__custom--LoanAgreementMember__srt--CounterpartyNameAxis__custom--ZenCreditMember_zTvHLt9x3eR5" title="Allowance for credit loss">12 thousand allowance for credit loss on the note.

0.16

2000000

80000

12000

NOTE 3 – REVENUE Revenue by Category The following series of tables present our revenue disaggregated by various categories (dollars in thousands). <table cellpadding="0" cellspacing="0" id="xdx_89C_eus-gaap--DisaggregationOfRevenueTableTextBlock_pn3n3_zdq6Rnfq3vT5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - REVENUE (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of disaggregation of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Precision Logistics</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Authentication</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Consolidated</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; white-space: nowrap">Revenue</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">ProActive services</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span id="xdx_901_eus-gaap--Revenues_pn3n3_c20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember__srt--ProductOrServiceAxis__custom--ProactiveServicesMember_zIujD7VH1XMk" title="Revenues">13,165</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span id="xdx_908_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember__srt--ProductOrServiceAxis__custom--ProactiveServicesMember_zsuySdXt8xJ9" title="Revenues">19,365</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span id="xdx_901_eus-gaap--Revenues_pn3n3_c20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember__srt--ProductOrServiceAxis__custom--ProactiveServicesMember_znEk9408Yff4" title="Revenues">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span id="xdx_904_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember__srt--ProductOrServiceAxis__custom--ProactiveServicesMember_z5JUuzr1Y26e" title="Revenues">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">13,165</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">19,365</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Premium services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--Revenues_pn3n3_c20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember__srt--ProductOrServiceAxis__custom--PremiumServicesMember_zv6C72XMO4b4" title="Revenues">3,077</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember__srt--ProductOrServiceAxis__custom--PremiumServicesMember_zVfKqQtilA8d" title="Revenues">4,401</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--Revenues_pn3n3_c20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember__srt--ProductOrServiceAxis__custom--PremiumServicesMember_zGham9WTlyyl" title="Revenues">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember__srt--ProductOrServiceAxis__custom--PremiumServicesMember_zeYFV11Pkcag" title="Revenues">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,077</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,401</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Brand protection services</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_eus-gaap--Revenues_pn3n3_c20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember__srt--ProductOrServiceAxis__custom--BrandProtectionServicesMember_zaigowfsD5W4" title="Revenues">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember__srt--ProductOrServiceAxis__custom--BrandProtectionServicesMember_zHjPF2jCcl44" title="Revenues">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_eus-gaap--Revenues_pn3n3_c20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember__srt--ProductOrServiceAxis__custom--BrandProtectionServicesMember_zVmeD1rLvfV3" title="Revenues">156</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember__srt--ProductOrServiceAxis__custom--BrandProtectionServicesMember_zXCBB1SgUFB6" title="Revenues">441</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">156</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">441</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">16,242</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">23,766</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">156</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">441</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">16,398</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">24,207</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Contract Balances The timing of revenue recognition, billings and cash collections results in unbilled revenue (contract assets) and deferred revenue (contract liabilities) on the consolidated balance sheets. Amounts charged to our clients become billable according to the contract terms, which usually consider the delivery completion. Unbilled amounts will generally be billed and collected within 30 days but typically no longer than 60 days. When we advance bill clients prior to the work being performed, generally, such amounts will be earned and recognized in revenue within twelve months. These assets and liabilities are reported on the consolidated balance sheets on a contract-by-contract basis at the end of each reporting period. Changes in the contract asset and liability balances during the year ended December 31, 2025, were not materially impacted by any other factors. Applying the practical expedient in ASC Topic 606, we recognize the incremental costs of obtaining contracts (i.e., sales commissions) as an expense when incurred if the amortization period of the assets that we otherwise would have recognized is one year or less. As of December 31, 2025, we did not have any capitalized sales commissions. For all periods presented, contract liabilities were not significant. The following table provides information about contract assets from contracts with customers: <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_pn3n3_zuJGlh6NO6u5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - REVENUE (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt">Schedule of contract assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">Contract Asset</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; white-space: nowrap; font-weight: bold; font-style: italic">In Thousands</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Beginning balance, January 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">733</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">1,282</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt">Contract asset additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,841</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,572</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 10pt">Reclassification to accounts receivable, billed to customers</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,236</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,121</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance (1)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">338</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">733</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> ______________ <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(1)</td><td id="xdx_F10_zS7PqVA97Do7">Included within "Unbilled revenue" on the accompanying Consolidated Balance Sheets.</td></tr></table>

<table cellpadding="0" cellspacing="0" id="xdx_89C_eus-gaap--DisaggregationOfRevenueTableTextBlock_pn3n3_zdq6Rnfq3vT5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - REVENUE (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of disaggregation of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Precision Logistics</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Authentication</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Consolidated</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; white-space: nowrap">Revenue</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">ProActive services</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span id="xdx_901_eus-gaap--Revenues_pn3n3_c20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember__srt--ProductOrServiceAxis__custom--ProactiveServicesMember_zIujD7VH1XMk" title="Revenues">13,165</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span id="xdx_908_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember__srt--ProductOrServiceAxis__custom--ProactiveServicesMember_zsuySdXt8xJ9" title="Revenues">19,365</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span id="xdx_901_eus-gaap--Revenues_pn3n3_c20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember__srt--ProductOrServiceAxis__custom--ProactiveServicesMember_znEk9408Yff4" title="Revenues">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><span id="xdx_904_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember__srt--ProductOrServiceAxis__custom--ProactiveServicesMember_z5JUuzr1Y26e" title="Revenues">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">13,165</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">19,365</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Premium services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--Revenues_pn3n3_c20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember__srt--ProductOrServiceAxis__custom--PremiumServicesMember_zv6C72XMO4b4" title="Revenues">3,077</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember__srt--ProductOrServiceAxis__custom--PremiumServicesMember_zVfKqQtilA8d" title="Revenues">4,401</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--Revenues_pn3n3_c20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember__srt--ProductOrServiceAxis__custom--PremiumServicesMember_zGham9WTlyyl" title="Revenues">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember__srt--ProductOrServiceAxis__custom--PremiumServicesMember_zeYFV11Pkcag" title="Revenues">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,077</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,401</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Brand protection services</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_eus-gaap--Revenues_pn3n3_c20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember__srt--ProductOrServiceAxis__custom--BrandProtectionServicesMember_zaigowfsD5W4" title="Revenues">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember__srt--ProductOrServiceAxis__custom--BrandProtectionServicesMember_zHjPF2jCcl44" title="Revenues">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_eus-gaap--Revenues_pn3n3_c20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember__srt--ProductOrServiceAxis__custom--BrandProtectionServicesMember_zVmeD1rLvfV3" title="Revenues">156</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember__srt--ProductOrServiceAxis__custom--BrandProtectionServicesMember_zXCBB1SgUFB6" title="Revenues">441</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">156</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">441</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">16,242</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">23,766</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">156</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">441</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">16,398</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">24,207</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

13165000

19365000

13165000

19365000

3077000

4401000

3077000

4401000

156000

441000

156000

441000

16242000

23766000

156000

441000

16398000

24207000

<table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_pn3n3_zuJGlh6NO6u5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - REVENUE (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt">Schedule of contract assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">Contract Asset</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; white-space: nowrap; font-weight: bold; font-style: italic">In Thousands</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Beginning balance, January 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">733</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">1,282</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt">Contract asset additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,841</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,572</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 10pt">Reclassification to accounts receivable, billed to customers</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,236</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,121</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance (1)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">338</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">733</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> ______________ <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(1)</td><td id="xdx_F10_zS7PqVA97Do7">Included within "Unbilled revenue" on the accompanying Consolidated Balance Sheets.</td></tr></table>

733000

1282000

5841000 8572000 6236000 9121000

338000

733000

NOTE 4 – BUSINESS COMBINATION On December 8, 2024, the Company sold Trust Codes Global pursuant to a Share Sale Agreement with a related party, Paul Ryan, former Executive Vice President of the Authentication Segment, and employee of Trust Codes Global Limited. This divestiture did not qualify as a discontinued operation. The purchase price per the agreement was $1 NZD. We recognized a loss of $0.1 million on the sale of the business. Through his purchase, Mr. Ryan assumed the remaining cash balance in the bank accounts of $0.1 million and all continuing obligations and liabilities of Trust Codes Global Limited. The Trust Codes Global business was part of the Authentication segment.

100000

NOTE 5 – INTANGIBLE ASSETS AND GOODWILL Goodwill Goodwill represents costs in excess of values assigned to the underlying net assets of acquired businesses. Intangible assets acquired are recorded at estimated fair value. Goodwill is deemed to have an indefinite life and is not amortized but is tested for impairment annually, and at any time when events suggest an impairment more likely than not has occurred. We test goodwill at the reporting unit level. ASC Topic 350, Intangibles - Goodwill and Other (“ASC Topic 350”), permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform a quantitative goodwill impairment test. Under ASC Topic 350, an entity is not required to perform a quantitative goodwill impairment test for a reporting unit if it is more likely than not that its fair value is greater than its carrying amount. A reporting unit is an operating segment, or one level below an operating segment, as defined by U.S. GAAP. Determining the fair value of a reporting unit is judgmental in nature and involves the use of significant estimates and assumptions. These estimates and assumptions include revenue growth rates and operating margins used to calculate projected future cash flows, risk-adjusted discount rates, future economic and market conditions, and determination of appropriate market comparables. We base our fair value estimates on assumptions we believe to be reasonable but are unpredictable and inherently uncertain. Actual future results may differ from those estimates. The timing and frequency of our goodwill impairment tests are based on an ongoing assessment of events and circumstances that would indicate a possible impairment. On August 26, 2025, FedEx Corporation notified providers, including PeriShip Global, that it would be providing preferred shipping services internally and that the providers would no longer be approved FedEx preferred shippers effective September 24, 2025. As a result, we made revisions to our internal forecasts and concluded that in accordance with ASC 350 a triggering event occurred indicating that potential impairment exists, which required the Company to conduct an interim test of the fair value of the goodwill for the Precision Logistics segment. We performed a quantitative goodwill impairment test and determined the fair value of our reporting units using a combination of an income approach and a market approach, employing a guideline public company approach. The results of our goodwill impairment test indicated that the carrying value of the Precision Logistics reporting unit exceeded its estimated fair value. As a result, the Company recorded a goodwill impairment charge of $1,062 thousand during the year ended December 31, 2025, within goodwill and intangible asset impairment on the consolidated statement of operations. We will continue to monitor our goodwill and intangible assets for impairment and conduct formal tests when impairment indicators are present. Each of our two reportable segments represents an operating segment under ASC Topic 280, Segment Reporting. We test our goodwill at the reporting unit level, or one level below an operating segment, under ASC Topic 350, Intangibles - Goodwill and Other. We determined that we have two reporting units for purposes of goodwill impairment testing, which represent our two reportable business segments, as discussed below. Changes in the carrying amount of goodwill by reportable business segment for the year ended December 31, 2025, were as follows (in thousands): <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--IntangibleAssetsDisclosureTextBlock_pn3n3_zDtEm5bTbOW6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INTANGIBLE ASSETS AND GOODWILL (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of goodwill by reportable business segment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Authentication</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Precision Logistics</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-decoration: underline; font-weight: bold; text-align: left">Net book value at</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-weight: bold; padding-bottom: 1pt">January 1, 2025</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">3,988</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">3,988</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">2025 Activity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Goodwill impairment charge</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,062</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,062</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Net book value at</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,926</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,926</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Intangible Assets Subject to Amortization Our intangible assets include amounts recognized in connection with patents and trademarks, capitalized software and acquisitions, including customer relationships, tradenames, developed technology and non-compete agreements. Intangible assets are initially valued at fair market value using generally accepted valuation methods appropriate for the type of intangible asset. Amortization is recognized on a straight-line basis over the estimated useful life of the intangible assets. Intangible assets with definite lives are reviewed for impairment if indicators of impairment arise. Except for goodwill, we do not have any intangible assets with indefinite useful lives. ASC Topic 360-10, “Impairment or disposal of long-lived assets (“ASC Topic 360”), provides guidance on accounting for the impairment and disposal of long-lived assets, covering both tangible and intangible finite-lived assets. The standard ensures that financial statements reflect the economic reality of assets by properly accounting for declines in value or disposals. Under ASC Topic 360, an entity must perform an analysis to determine whether it is more likely than not that the fair value of a long lived asset is less than its carrying amount based on estimates of future cash flows. Determining the fair value of long-lived assets is judgmental in nature and involves the use of significant estimates and assumptions. These estimates and assumptions include revenue growth rates and operating margins used to calculate projected future cash flows, risk-adjusted discount rates, future economic and market conditions, and determination of appropriate market comparables. Our fair value estimates are based on assumptions that we believe to be reasonable but are unpredictable and inherently uncertain. Actual future results may differ from those estimates. The timing and frequency of our long lived asset impairment tests are based on an ongoing assessment of events and circumstances that would indicate a possible impairment. On August 26, 2025, FedEx Corporation notified providers, including PeriShip Global, that it would be providing preferred shipping services internally and that the providers would no longer be approved FedEx preferred shippers effective September 24, 2025. As a result, we made revisions to our internal forecasts that resulted in an interim triggering event for the year ended December 31, 2025, indicating the carrying value of our long-lived assets including internally used software, deferred implementation, trademarks, customer relationships, and non-compete and developed technology may not be recoverable. The analysis indicated that certain intangible assets were impaired. The Company further concluded during the year ended December 31, 2025 the carrying value of the long-lived assets exceeded its estimated fair values, which resulted in an impairment charge. We recorded an intangible asset impairment charge of $2,788 thousand during the year ended December 31, 2025, within goodwill and intangible asset impairment on the consolidated statement of operations. Intangible assets with finite lives are subject to amortization over their estimated useful lives. The primary assets included in this category and their respective balances were as follows (in thousands): <table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfAcquiredIndefiniteLivedIntangibleAssetsByMajorClassTextBlock_pn3n3_z99ylTj7d7Ka" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INTANGIBLE ASSETS AND GOODWILL (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of intangible assets subject to amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold">December 31, 2025</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap">Gross Carrying Amount</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap">Accumulated Amortization</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap">Net Carrying Amount</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">Weighted Average Remaining Useful Life (Years)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Patents and Trademarks</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">699</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksMember_zwpCwv50RDvl" title="Accumulated Amortization">(18</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">681</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_905_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksMember_zp3bIrwGuzQ6" title="Weighted average useful life (years)">9</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Developed Technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zyM5EOFpi9L5" title="Gross Carrying Amount">795</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zxPEtmchgYyd" title="Accumulated Amortization">(78</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zGKOjdEGapS7" title="Net Carrying Amount">717</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zNekWQMasixh" title="Weighted average useful life (years)">2</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Internally Used Software</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zFmlMLWfisY1" title="Gross Carrying Amount">979</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zLxxrgSzlFk6" title="Accumulated Amortization">(32</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zeUv94ZdfU9i" title="Net Carrying Amount">947</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zJjSCCYjkFIj" title="Weighted average useful life (years)">5</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Intangible Assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,473</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(128</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,345</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">December 31, 2024</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Patents and Trademarks</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,112</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_902_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksMember_zWF9GC0wgvkl" title="Accumulated Amortization">(230</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">882</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksMember_zDhkj7kzvcHf" title="Weighted average useful life (years)">10</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Customer Relationships</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zPZpC0HRLh0h" title="Gross Carrying Amount">1,839</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zrum3Hp6RWq6" title="Accumulated Amortization">(495</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zqKyFOnrEfDf" title="Net Carrying Amount">1,344</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zX5UJMqlQnzd" title="Weighted average useful life (years)">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Developed Technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_ztUO9TMmEOJ7" title="Gross Carrying Amount">3,143</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zS0pLu96CCSe" title="Accumulated Amortization">(1,411</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zmxwpE0oHgUa" title="Net Carrying Amount">1,732</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zxpPmSBOiwmd" title="Weighted average useful life (years)">3</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Internally Used Software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zbWnokupdJK6" title="Gross Carrying Amount">1,418</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zCSrjtoTUDi2" title="Accumulated Amortization">(207</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zH8t01C9K1C8" title="Net Carrying Amount">1,211</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_z6M24cvqmWu5" title="Weighted average useful life (years)">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-Compete Agreement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--NoncompeteAgreementsMember_z6X8zZS0F4v1" title="Gross Carrying Amount">191</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--NoncompeteAgreementsMember_zKbUjncHOQVb" title="Accumulated Amortization">(103</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--NoncompeteAgreementsMember_zDkmzSkYiaN7" title="Net Carrying Amount">88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--NoncompeteAgreementsMember_z0FW2cJM9SDf" title="Weighted average useful life (years)">2</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Deferred Implementation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_909_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DeferredImplementationMember_zHc2w6gNdrfe" title="Gross Carrying Amount">135</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DeferredImplementationMember_zlie8ctC2Qxf" title="Accumulated Amortization">(27</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90D_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DeferredImplementationMember_z5jcB0VOzbXf" title="Net Carrying Amount">108</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_904_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DeferredImplementationMember_zLxEUYCAL5Wi" title="Weighted average useful life (years)">8</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Intangible Assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,838</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,473</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,365</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Amortization expense for intangible assets was $946 thousand and $1,097 thousand for the years ended December 31, 2025, and December 31, 2024, respectively. During the years ended December 31, 2025, and 2024, the Company impaired certain assets by $<span id="xdx_90A_eus-gaap--AssetImpairmentCharges_pn3n3_c20250101__20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_z2BtpFbLv531" title="Intangible asset impairment">2,788 thousand and $<span id="xdx_905_eus-gaap--AssetImpairmentCharges_pn3n3_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zz5sjgDkyqig" title="Intangible asset impairment">964 thousand, respectively, to bring the gross carrying amount related to these assets to zero as a result of the impairment analysis of long-lived assets under ASC Topic 360. Patents and Trademarks As of December 31, 2025, our current patent and trademark portfolios consist of six granted U.S. patents and one pending foreign patent application and several foreign trademarks. The Company abandoned four patents during the year ended December 31, 2025. The Company expects to record amortization expense of intangible assets over the next 5 years and thereafter as follows (in thousands): <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_pn3n3_zwoPQGJLLdl5" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - INTANGIBLE ASSETS AND GOODWILL (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of finite-lived intangible assets, future amortization expense</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20251231_zB7vvUm6VBth" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap; font-weight: bold">Fiscal Year ending December 31,</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_maFLIANzuoI_ztEnhhgutnba" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 81%; text-align: left">2026</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">513</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_pn3n3_maFLIANzuoI_zb9qzd5qCH8k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">513</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_pn3n3_maFLIANzuoI_zFPr8HDcbUri" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">297</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_pn3n3_maFLIANzuoI_zQZtqi3hi4Gf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">202</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_pn3n3_maFLIANzuoI_ztoOToiOdCW1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">202</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_pn3n3_maFLIANzuoI_z3q8Y35FoeEf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Thereafter</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">618</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzuoI_zrlqF3oxKNJ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,345</td><td style="text-align: left"> </td></tr> </table> As of December 31, 2025, our intangible assets with definite lives had a weighted average remaining useful life of <span id="xdx_905_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--FiniteLivedIntangibleAssetsMember_zF9R9rRWAeK2" title="Weighted average remaining useful life">3 years. We have no amortizable intangible assets with indefinite useful lives.

1062000

<table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--IntangibleAssetsDisclosureTextBlock_pn3n3_zDtEm5bTbOW6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INTANGIBLE ASSETS AND GOODWILL (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of goodwill by reportable business segment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Authentication</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Precision Logistics</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-decoration: underline; font-weight: bold; text-align: left">Net book value at</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-weight: bold; padding-bottom: 1pt">January 1, 2025</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">3,988</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">3,988</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">2025 Activity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Goodwill impairment charge</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,062</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,062</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Net book value at</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,926</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,926</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

3988000

1062000

2926000

2788000

<table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfAcquiredIndefiniteLivedIntangibleAssetsByMajorClassTextBlock_pn3n3_z99ylTj7d7Ka" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INTANGIBLE ASSETS AND GOODWILL (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of intangible assets subject to amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold">December 31, 2025</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap">Gross Carrying Amount</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap">Accumulated Amortization</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap">Net Carrying Amount</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">Weighted Average Remaining Useful Life (Years)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Patents and Trademarks</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">699</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksMember_zwpCwv50RDvl" title="Accumulated Amortization">(18</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">681</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_905_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksMember_zp3bIrwGuzQ6" title="Weighted average useful life (years)">9</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Developed Technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zyM5EOFpi9L5" title="Gross Carrying Amount">795</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zxPEtmchgYyd" title="Accumulated Amortization">(78</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zGKOjdEGapS7" title="Net Carrying Amount">717</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zNekWQMasixh" title="Weighted average useful life (years)">2</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Internally Used Software</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zFmlMLWfisY1" title="Gross Carrying Amount">979</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_907_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zLxxrgSzlFk6" title="Accumulated Amortization">(32</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zeUv94ZdfU9i" title="Net Carrying Amount">947</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zJjSCCYjkFIj" title="Weighted average useful life (years)">5</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Intangible Assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,473</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(128</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,345</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">December 31, 2024</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Patents and Trademarks</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,112</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_902_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksMember_zWF9GC0wgvkl" title="Accumulated Amortization">(230</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">882</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksMember_zDhkj7kzvcHf" title="Weighted average useful life (years)">10</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Customer Relationships</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zPZpC0HRLh0h" title="Gross Carrying Amount">1,839</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zrum3Hp6RWq6" title="Accumulated Amortization">(495</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zqKyFOnrEfDf" title="Net Carrying Amount">1,344</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zX5UJMqlQnzd" title="Weighted average useful life (years)">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Developed Technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_ztUO9TMmEOJ7" title="Gross Carrying Amount">3,143</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zS0pLu96CCSe" title="Accumulated Amortization">(1,411</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zmxwpE0oHgUa" title="Net Carrying Amount">1,732</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zxpPmSBOiwmd" title="Weighted average useful life (years)">3</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Internally Used Software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zbWnokupdJK6" title="Gross Carrying Amount">1,418</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zCSrjtoTUDi2" title="Accumulated Amortization">(207</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_zH8t01C9K1C8" title="Net Carrying Amount">1,211</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InternallyUsedSoftwareMember_z6M24cvqmWu5" title="Weighted average useful life (years)">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-Compete Agreement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--NoncompeteAgreementsMember_z6X8zZS0F4v1" title="Gross Carrying Amount">191</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--NoncompeteAgreementsMember_zKbUjncHOQVb" title="Accumulated Amortization">(103</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--NoncompeteAgreementsMember_zDkmzSkYiaN7" title="Net Carrying Amount">88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--NoncompeteAgreementsMember_z0FW2cJM9SDf" title="Weighted average useful life (years)">2</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Deferred Implementation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_909_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DeferredImplementationMember_zHc2w6gNdrfe" title="Gross Carrying Amount">135</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DeferredImplementationMember_zlie8ctC2Qxf" title="Accumulated Amortization">(27</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90D_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DeferredImplementationMember_z5jcB0VOzbXf" title="Net Carrying Amount">108</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_904_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DeferredImplementationMember_zLxEUYCAL5Wi" title="Weighted average useful life (years)">8</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Intangible Assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,838</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,473</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,365</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

699000

-18000

681000

P9Y

795000

-78000

717000

P2Y

979000

-32000

947000

P5Y

2473000

-128000

2345000

1112000

-230000

882000

P10Y

1839000

-495000

1344000

P7Y

3143000

-1411000

1732000

P3Y

1418000

-207000

1211000

P7Y

191000

-103000

88000

P2Y

135000

-27000

108000

P8Y

7838000

-2473000

5365000

946000

1097000

2788000

964000

<table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_pn3n3_zwoPQGJLLdl5" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - INTANGIBLE ASSETS AND GOODWILL (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of finite-lived intangible assets, future amortization expense</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20251231_zB7vvUm6VBth" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap; font-weight: bold">Fiscal Year ending December 31,</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_maFLIANzuoI_ztEnhhgutnba" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 81%; text-align: left">2026</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">513</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_pn3n3_maFLIANzuoI_zb9qzd5qCH8k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">513</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_pn3n3_maFLIANzuoI_zFPr8HDcbUri" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">297</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_pn3n3_maFLIANzuoI_zQZtqi3hi4Gf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">202</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_pn3n3_maFLIANzuoI_ztoOToiOdCW1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">202</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_pn3n3_maFLIANzuoI_z3q8Y35FoeEf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Thereafter</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">618</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzuoI_zrlqF3oxKNJ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,345</td><td style="text-align: left"> </td></tr> </table>

513000

297000

202000

618000

2345000

P3Y

NOTE 6 – INCOME TAXES The reconciliation of income tax expense computed at the U.S. federal statutory rate to the income tax provision for the years ended December 31, 2025, and 2024 is as follows (in thousands): <table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--ScheduleOfIncomeTaxProvisionTableTextBlock_pn3n3_zGBhmaar4kS3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INCOME TAXES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of income tax provision</td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20250101__20251231_znJJ01VrOOn8" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20240101__20241231_z1ZTp2pIHhf2" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold">US</td><td> </td> <td colspan="6" style="white-space: nowrap; text-align: center"> Years Ended December 31, </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_ecustom--IncomeLossBeforeIncomeTaxesAbstract_iB" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_pn3n3_maILFCOzC1y_zz6JD8QhP37e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 18pt; width: 64%">Domestic</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(4,905</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(4,602</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pn3n3_maILFCOzC1y_zFfXYTVnFZgj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 18pt; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">721</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_pn3n3_mtILFCOzC1y_z4ExFoahig5k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total loss before income taxes</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(4,905</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,881</td><td style="text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INCOME TAXES (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 20pt"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250101__20251231_z3App9w714tf" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20240101__20241231_zP7ZF2qTTIbl" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold">Income tax expense (benefit):</td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Years Ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--CurrentFederalStateAndLocalTaxExpenseBenefitAbstract_iB" style="vertical-align: bottom"> <td style="white-space: nowrap">Current:</td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--CurrentFederalTaxExpenseBenefit_i01_pn3n3_maCITEBzAoG_zE1bzOQk0Uk4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-indent: 20pt">Federal</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(181</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(562</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_i01_pn3n3_maCITEBzAoG_zDdppIvWTJJ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 20pt">State and local</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(114</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--CurrentForeignTaxExpenseBenefit_i01_pn3n3_maCITEBzAoG_zfKZkZtEj7y8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 20pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CurrentIncomeTaxExpenseBenefit_i01T_pn3n3_mtCITEBzAoG_maITEBzJjD_zntaaBLx4fHd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt">Total current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$ </td><td style="border-bottom: Black 1pt solid; text-align: right">(197</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(676</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredIncomeTaxesAbstract_iB" style="vertical-align: bottom; background-color: White"> <td>Deferred:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzCZj_zUNq7ZbLkcz" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt">Federal</td><td> </td> <td style="text-align: left">$ </td><td style="text-align: right">(847</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(413</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzCZj_zIxSHUtvhLC1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 20pt">State and local</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(76</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(84</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzCZj_zdK1wqd9NUh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 20pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--DeferredIncomeTaxExpenseBenefit_i01T_pn3n3_mtDITEBzCZj_maITEBzJjD_zktxePevt6te" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt">Total deferred</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$ </td><td style="border-bottom: Black 1pt solid; text-align: right">(923</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(516</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxExpenseBenefit_i01T_pn3n3_mtITEBzJjD_zYra9xQMNRs" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total income tax expense (benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,120</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,192</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Beginning in 2025 annual reporting, the Company adopted ASU 2023-09 prospectively. See Note 1 - Organization and Summary of Significant Accounting Policies for additional details on ASU 2023-09. A reconciliation of the U.S. federal statutory income tax rate to our effective tax rate for the year ending December 31, 2025 and December 31, 2024 is as follows (in thousands): <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_pn3n3_zUHxny4ykUTa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INCOME TAXES (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of reconciliation of federal statutory tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">For the Year Ended December 31, 2025</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">For the Year Ended December 31, 2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Tax Effect USD</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Effective Tax Rate</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Tax Effect USD</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Effective Tax Rate</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Taxes under statutory US tax rates</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(1,030</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">21</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(815</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">21</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Increase (decrease) in taxes resulting from:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Foreign taxes and rate differential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Increase (decrease) in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">534</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_c20250101__20251231_zGNQwZ12GNzh" title="Increase (decrease) in valuation allowance, percentage">(11</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">696</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_c20240101__20241231_zh2koeWpSJzl" title="Increase (decrease) in valuation allowance, percentage">(18</td><td style="text-align: left">%)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Permanent Differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">371</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">284</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7</td><td style="text-align: left">%)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Change in State tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1</td><td style="text-align: left">%)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left; padding-bottom: 1pt">State & local taxes net of federal benefit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(92</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(197</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The increase in the valuation allowance during the years ended December 31, 2025 and December 31, 2024 was due primarily to the increase in our net operating losses which may not be utilized in the future. Cash paid for income taxes, net of refunds received, by jurisdiction for the years ended December 31, 2025 are as follows (in thousands): <table cellpadding="0" cellspacing="0" id="xdx_899_ecustom--ScheduleOfPaidForIncomeTaxTableTextBlock_pn3n3_zrFqiOObw6fh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%" summary="xdx: Disclosure - INCOME TAXES (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: right">Schedule of paid for income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Year Ended December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold">Federal</td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right">-</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold">State:</td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; font-weight: bold; text-align: right">NYS</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right"><span id="xdx_908_eus-gaap--IncomeTaxesPaidNet_pp0n3_c20250101__20251231__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--NewYorkStateDivisionOfTaxationAndFinanceMember_zeY22Wfxtlla" title="Cash paid for income taxes, net of refunds received">6.8</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: right">TN</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--IncomeTaxesPaidNet_pp0n3_c20250101__20251231__us-gaap--IncomeTaxAuthorityNameAxis__custom--TNStateDivisionOfTaxationAndFinanceMember_zoxExRa7cqn4" title="Cash paid for income taxes, net of refunds received">3.8</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: right">TX</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--IncomeTaxesPaidNet_pp0n3_c20250101__20251231__us-gaap--IncomeTaxAuthorityNameAxis__custom--TXStateDivisionOfTaxationAndFinanceMember_zVALlEEzj8Yl" title="Cash paid for income taxes, net of refunds received">11.1</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: right; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eus-gaap--IncomeTaxesPaidNet_pp0n3_c20250101__20251231__us-gaap--IncomeTaxAuthorityNameAxis__custom--OtherStateDivisionOfTaxationAndFinanceMember_zNY6wvLMwIUd" title="Cash paid for income taxes, net of refunds received">2.4</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: right; padding-bottom: 2.5pt">Cash paid for income taxes, net of refunds received</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">24.1</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. Significant components of the Company's deferred tax assets and liabilities consist of the following (in thousands): <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_pn3n3_zh6suOkwtBGf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%" summary="xdx: Disclosure - INCOME TAXES (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt">Schedule of deferred tax assets and liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_491_20251231" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20241231" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold">TAX ASSETS AND LIABILITIES</td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Years Ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; white-space: nowrap; font-weight: bold">Assets:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pn3n3_maDTAGzs9T_zzKbnuLv7BCe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; width: 64%; text-align: left">Net operating loss carryforwards</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">6,812</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">6,646</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--RestrictedStockRsasRsus_iNI_pn3n3_di_msDTAGzs9T_z7AwHlUEPdec" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Restricted stock (RSAs, RSUs)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">581</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">819</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--StockOptions_iNI_pn3n3_di_msDTAGzs9T_zhmgEnMsPGYi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Stock options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">159</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetsDepreciation_iI_pn3n3_maDTAGzs9T_zxN8cbngj1q6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_pn3n3_maDTAGzs9T_zk6ckHkFnZC5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt">Intangibles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">697</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">93</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--AcquisitionTransactionCosts_iNI_pn3n3_di_msDTAGzs9T_ztUaNXBj3xGj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Acquisition transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">95</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--CapitalizedResearchAndDevelopment_iNI_pn3n3_di_msDTAGzs9T_z4CFF8rtetG9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Capitalized research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">141</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--UnrealizedGainOnInvestment_iI_pn3n3_maDTAGzs9T_zcxbroTcrRyf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Unrealized gain on investment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--BadDebt_iI_pn3n3_maDTAGzs9T_zhn1ewDUO0U3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Bad debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--CapitalLossLimitationAndCashFlowUsed_iI_pn3n3_maDTAGzs9T_z0rHYThtQ1e5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Capital loss limitation and cash flow used</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">840</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">930</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--Rents_iI_pn3n3_maDTAGzs9T_zr0Y1AsP56ij" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt">Rents</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--Impairment_iI_pn3n3_maDTAGzs9T_z9I1IHq41db2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt">Impairments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--FvLossOnEquityInvestment_iI_pn3n3_maDTAGzs9T_z96aMJI0AMU6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">FV loss on equity investment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--AccruedBonusCompensation_iI_pn3n3_maDTAGzs9T_zaDMxFAh8EBc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left; padding-bottom: 1pt">Accrued bonus compensation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsGross_iTI_pn3n3_mtDTAGzs9T_maDTANzyww_z850nJ9bOITg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: center">Gross Deferred Tax Assets</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">9,281</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">8,747</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pn3n3_di_msDTANzyww_zGkSYpMMMiPc" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,281</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(8,747</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNet_iTI_pn3n3_mtDTANzyww_maDTALNz6wm_zNK5JcuW2g6i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: center; padding-bottom: 2.5pt">Gross Deferred Tax Assets</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilitiesAbstract_iB" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxLiabilities_iNI_pn3n3_di_msDTALNz6wm_zzZKqcQbLD93" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left; padding-bottom: 1pt">Intangibles and other deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_pn3n3_mtDTALNz6wm_z4HZBr5uAKJ6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: center; padding-bottom: 2.5pt">Net Deferred Tax Assets</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 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 may not be realized. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences are deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based upon these factors, Management has placed a full valuation allowance against all deferred tax assets, including net operating loss carryforwards, due to the uncertainty of future profitability. As of December 31, 2025, the Company has net operating loss carryforwards of $25.3 million for tax purposes, which, subject to the application of potential limitations, will be available to offset future taxable income. If not used, $6.6 million of these carryforwards will expire beginning in 2026, and $18.9 million will carryforward indefinitely. Utilization of the net operating losses (NOL) carryforwards may be subject to a substantial annual limitation as required by Section 382 of the IRC, due to ownership change of the company that could occur in the future, as well as similar state provisions. In general, an “ownership change” as defined by Section 382 results from a transaction or series of transactions over a three-year period resulting in an ownership change of more than 50 percentage points of the outstanding stock of a company by certain stockholders. These ownership changes may limit the amount of NOL carryforwards that can be utilized annually to offset future taxable income. Assuming the Merger is consummated in accordance with the terms of the Merger Agreement, these limitations will apply for tax periods following the Merger. The Company completed the IRC Section 382 analysis, in 2022, and determined that an ownership change occurred sufficiently to impose additional limitations on the use of NOL carryforwards. The Company has not completed the IRC Section 382 analysis in 2023, 2024 or 2025. The Merger is expected to result in an ownership change and, consequently, application of these use limitation rules on the tax attributes of the Company for tax periods following the Merger. As a result, following the Merger, we may incur larger federal and state income tax liabilities than we would have had we not experienced an ownership change. No tax benefit has been reported in the December 31, 2025, financial statements due to the uncertainty surrounding the realizability of the benefit. Uncertain Tax Positions As of December 31, 2025, and 2024 we had no uncertain tax positions reflected on our balance sheet. The Company files income tax returns in U.S. federal, state and local jurisdictions, and various non-U.S. jurisdictions, and is subject to audit by tax authorities in those jurisdictions. Tax years 2021 through 2025 remain open to examination by these tax jurisdictions, and earlier years remain open to examination in certain of these jurisdictions which have longer statues of limitations. The Company’s tax years from 2006 are subject to examination by the United States and state taxing authorities due to the carryforward of unutilized NOLs. The Tax Cuts and Jobs Act of 2017 imposes a mandatory repatriation tax on certain unremitted foreign earnings and provides a 100% deduction to domestic corporations for certain dividends received from foreign corporations after December 31, 2017. The Company divested of its foreign subsidiary on December 8, 2024, therefore, there will be no future dividends from the earnings of our foreign subsidiary to result in U.S. federal income taxes. In accordance with FASB ASC Topic 740, Income Taxes, valuation allowances are provided against deferred tax assets, if based on the weight of available evidence, some or all of the deferred tax assets may or will not be realized. The Company has evaluated its ability to realize some or all of the deferred tax assets on its balance sheet and has established a valuation allowance of approximately $9.3 million at December 31, 2025. The Company did not utilize any NOL deductions for the year ended December 31, 2025. The Company applied the "more-likely-than-not" recognition threshold to all tax positions taken or expected to be taken in a tax return, which resulted in no unrecognized tax benefits as of December 31, 2025, and December 31, 2024, respectively. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company had no accrual for interest and penalties on the balance sheets and recognized $2 thousand in interest and/or penalties in the Statements of Operations for the year ended December 31, 2025, and $1 thousand in interest and/or penalties in the Statements of Operations in the fiscal year ended December 31, 2024. There are no taxes payable as of December 31, 2025, or December 31, 2024.

<table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--ScheduleOfIncomeTaxProvisionTableTextBlock_pn3n3_zGBhmaar4kS3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INCOME TAXES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of income tax provision</td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20250101__20251231_znJJ01VrOOn8" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20240101__20241231_z1ZTp2pIHhf2" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold">US</td><td> </td> <td colspan="6" style="white-space: nowrap; text-align: center"> Years Ended December 31, </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_ecustom--IncomeLossBeforeIncomeTaxesAbstract_iB" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_pn3n3_maILFCOzC1y_zz6JD8QhP37e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 18pt; width: 64%">Domestic</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(4,905</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(4,602</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pn3n3_maILFCOzC1y_zFfXYTVnFZgj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 18pt; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">721</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_pn3n3_mtILFCOzC1y_z4ExFoahig5k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total loss before income taxes</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(4,905</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,881</td><td style="text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INCOME TAXES (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 20pt"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250101__20251231_z3App9w714tf" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20240101__20241231_zP7ZF2qTTIbl" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold">Income tax expense (benefit):</td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Years Ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--CurrentFederalStateAndLocalTaxExpenseBenefitAbstract_iB" style="vertical-align: bottom"> <td style="white-space: nowrap">Current:</td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--CurrentFederalTaxExpenseBenefit_i01_pn3n3_maCITEBzAoG_zE1bzOQk0Uk4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-indent: 20pt">Federal</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(181</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(562</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_i01_pn3n3_maCITEBzAoG_zDdppIvWTJJ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 20pt">State and local</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(114</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--CurrentForeignTaxExpenseBenefit_i01_pn3n3_maCITEBzAoG_zfKZkZtEj7y8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 20pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CurrentIncomeTaxExpenseBenefit_i01T_pn3n3_mtCITEBzAoG_maITEBzJjD_zntaaBLx4fHd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt">Total current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$ </td><td style="border-bottom: Black 1pt solid; text-align: right">(197</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(676</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredIncomeTaxesAbstract_iB" style="vertical-align: bottom; background-color: White"> <td>Deferred:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzCZj_zUNq7ZbLkcz" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt">Federal</td><td> </td> <td style="text-align: left">$ </td><td style="text-align: right">(847</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(413</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzCZj_zIxSHUtvhLC1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 20pt">State and local</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(76</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(84</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_i01_pn3n3_maDITEBzCZj_zdK1wqd9NUh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 20pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--DeferredIncomeTaxExpenseBenefit_i01T_pn3n3_mtDITEBzCZj_maITEBzJjD_zktxePevt6te" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt">Total deferred</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$ </td><td style="border-bottom: Black 1pt solid; text-align: right">(923</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(516</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxExpenseBenefit_i01T_pn3n3_mtITEBzJjD_zYra9xQMNRs" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total income tax expense (benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,120</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,192</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-4905000

-4602000

721000

-4905000

-3881000

-181000

-562000

-16000

-114000

-197000

-676000

-847000

-413000

-76000

-84000

-19000

-923000

-516000

-1120000

-1192000

<table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_pn3n3_zUHxny4ykUTa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INCOME TAXES (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of reconciliation of federal statutory tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">For the Year Ended December 31, 2025</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">For the Year Ended December 31, 2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Tax Effect USD</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Effective Tax Rate</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Tax Effect USD</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Effective Tax Rate</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Taxes under statutory US tax rates</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(1,030</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">21</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(815</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">21</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Increase (decrease) in taxes resulting from:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Foreign taxes and rate differential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Increase (decrease) in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">534</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_c20250101__20251231_zGNQwZ12GNzh" title="Increase (decrease) in valuation allowance, percentage">(11</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">696</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_c20240101__20241231_zh2koeWpSJzl" title="Increase (decrease) in valuation allowance, percentage">(18</td><td style="text-align: left">%)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Permanent Differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">371</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">284</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7</td><td style="text-align: left">%)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Change in State tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4</td><td style="text-align: left">%)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1</td><td style="text-align: left">%)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left; padding-bottom: 1pt">State & local taxes net of federal benefit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(92</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(197</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

-1030000

0.21

-815000

0.21

7000

534000

-0.11

696000

-0.18

371000

-0.08

284000

-0.07

217000

-0.04

25000

-0.01

-92000

0.02

-197000

0.05

<table cellpadding="0" cellspacing="0" id="xdx_899_ecustom--ScheduleOfPaidForIncomeTaxTableTextBlock_pn3n3_zrFqiOObw6fh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%" summary="xdx: Disclosure - INCOME TAXES (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: right">Schedule of paid for income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Year Ended December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold">Federal</td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right">-</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold">State:</td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; font-weight: bold; text-align: right">NYS</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right"><span id="xdx_908_eus-gaap--IncomeTaxesPaidNet_pp0n3_c20250101__20251231__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--NewYorkStateDivisionOfTaxationAndFinanceMember_zeY22Wfxtlla" title="Cash paid for income taxes, net of refunds received">6.8</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: right">TN</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--IncomeTaxesPaidNet_pp0n3_c20250101__20251231__us-gaap--IncomeTaxAuthorityNameAxis__custom--TNStateDivisionOfTaxationAndFinanceMember_zoxExRa7cqn4" title="Cash paid for income taxes, net of refunds received">3.8</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: right">TX</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--IncomeTaxesPaidNet_pp0n3_c20250101__20251231__us-gaap--IncomeTaxAuthorityNameAxis__custom--TXStateDivisionOfTaxationAndFinanceMember_zVALlEEzj8Yl" title="Cash paid for income taxes, net of refunds received">11.1</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: right; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eus-gaap--IncomeTaxesPaidNet_pp0n3_c20250101__20251231__us-gaap--IncomeTaxAuthorityNameAxis__custom--OtherStateDivisionOfTaxationAndFinanceMember_zNY6wvLMwIUd" title="Cash paid for income taxes, net of refunds received">2.4</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: right; padding-bottom: 2.5pt">Cash paid for income taxes, net of refunds received</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">24.1</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

6800

3800

11100

2400

24100

<table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_pn3n3_zh6suOkwtBGf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%" summary="xdx: Disclosure - INCOME TAXES (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt">Schedule of deferred tax assets and liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_491_20251231" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20241231" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold">TAX ASSETS AND LIABILITIES</td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Years Ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; white-space: nowrap; font-weight: bold">Assets:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pn3n3_maDTAGzs9T_zzKbnuLv7BCe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; width: 64%; text-align: left">Net operating loss carryforwards</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">6,812</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">6,646</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--RestrictedStockRsasRsus_iNI_pn3n3_di_msDTAGzs9T_z7AwHlUEPdec" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Restricted stock (RSAs, RSUs)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">581</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">819</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--StockOptions_iNI_pn3n3_di_msDTAGzs9T_zhmgEnMsPGYi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Stock options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">159</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetsDepreciation_iI_pn3n3_maDTAGzs9T_zxN8cbngj1q6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_pn3n3_maDTAGzs9T_zk6ckHkFnZC5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt">Intangibles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">697</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">93</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--AcquisitionTransactionCosts_iNI_pn3n3_di_msDTAGzs9T_ztUaNXBj3xGj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Acquisition transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">95</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--CapitalizedResearchAndDevelopment_iNI_pn3n3_di_msDTAGzs9T_z4CFF8rtetG9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Capitalized research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">141</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--UnrealizedGainOnInvestment_iI_pn3n3_maDTAGzs9T_zcxbroTcrRyf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Unrealized gain on investment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--BadDebt_iI_pn3n3_maDTAGzs9T_zhn1ewDUO0U3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Bad debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--CapitalLossLimitationAndCashFlowUsed_iI_pn3n3_maDTAGzs9T_z0rHYThtQ1e5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Capital loss limitation and cash flow used</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">840</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">930</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--Rents_iI_pn3n3_maDTAGzs9T_zr0Y1AsP56ij" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt">Rents</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--Impairment_iI_pn3n3_maDTAGzs9T_z9I1IHq41db2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt">Impairments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--FvLossOnEquityInvestment_iI_pn3n3_maDTAGzs9T_z96aMJI0AMU6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">FV loss on equity investment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--AccruedBonusCompensation_iI_pn3n3_maDTAGzs9T_zaDMxFAh8EBc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left; padding-bottom: 1pt">Accrued bonus compensation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsGross_iTI_pn3n3_mtDTAGzs9T_maDTANzyww_z850nJ9bOITg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: center">Gross Deferred Tax Assets</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">9,281</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">8,747</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pn3n3_di_msDTANzyww_zGkSYpMMMiPc" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,281</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(8,747</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNet_iTI_pn3n3_mtDTANzyww_maDTALNz6wm_zNK5JcuW2g6i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: center; padding-bottom: 2.5pt">Gross Deferred Tax Assets</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilitiesAbstract_iB" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxLiabilities_iNI_pn3n3_di_msDTALNz6wm_zzZKqcQbLD93" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left; padding-bottom: 1pt">Intangibles and other deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_pn3n3_mtDTALNz6wm_z4HZBr5uAKJ6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: center; padding-bottom: 2.5pt">Net Deferred Tax Assets</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

6812000

6646000

-581000 -819000 -159000 75000 -22000

697000

93000

-80000 -95000 -141000 18000 1000 2000 2000 18000 840000 930000 3000 25000 -3000 -3000 55000

9281000

8747000

9281000

8747000

25300000

If not used, $6.6 million of these carryforwards will expire beginning in 2026, and $18.9 million will carryforward indefinitely.

Utilization of the net operating losses (NOL) carryforwards may be subject to a substantial annual limitation as required by Section 382 of the IRC, due to ownership change of the company that could occur in the future, as well as similar state provisions. In general, an “ownership change” as defined by Section 382 results from a transaction or series of transactions over a three-year period resulting in an ownership change of more than 50 percentage points of the outstanding stock of a company by certain stockholders. These ownership changes may limit the amount of NOL carryforwards that can be utilized annually to offset future taxable income. Assuming the Merger is consummated in accordance with the terms of the Merger Agreement, these limitations will apply for tax periods following the Merger.

9300000

2000

1000

NOTE 7—DEBT PNC Facility PeriShip Global is a party to a debt facility with PNC Bank, National Association (the “PNC Facility”). The PNC Facility includes a $1 million revolving line of credit (the “RLOC”). The RLOC has no scheduled payments of principal until maturity, and bears interest per annum at a rate equal to the sum of Daily SOFR plus 2.85% with monthly interest payments. The PNC Facility also included a four-year term note (the “Term Note”) for $2 million which matured in September of 2026 and required equal quarterly payments of principal and interest. The Term Note incurred interest per annum at a rate equal to the sum of Daily SOFR plus 3.1%. On January 21, 2025, the Term Note was paid in full and no future principal payments are due. The PNC Facility is guaranteed by VerifyMe and secured by the assets of PeriShip Global and VerifyMe. The PNC Facility includes a number of affirmative and restrictive covenants applicable to PeriShip Global, including, among others, a financial covenant to maintain a fixed charge coverage ratio of at least 1.10 to 1.00 at the end of each fiscal year, affirmative covenants regarding delivery of financial statements, payment of taxes, and establishing primary depository accounts with PNC Bank, and restrictive covenants regarding dispositions of property, acquisitions, incurrence of additional indebtedness or liens, investments and transactions with affiliates. PeriShip Global is also restricted from paying dividends or making other distributions or payments on its capital stock if an event of default (as defined in the PNC Facility) has occurred or would occur upon such declaration of dividend. On August 14, 2024, the Company signed a waiver and amendment which provided a waiver for a certain event of default and extended the line of credit to September 30, 2025. On February 28, 2025, we received a waiver as of December 31, 2024 for certain events of default. PeriShip Global was not in compliance with all affirmative and restrictive covenants under the PNC Facility at December 31, 2025. On March 26, 2026, we received a waiver as of December 31, 2025, for certain events of default. On August 8, 2025, the Company extended the line of credit to September 30, 2026. As of January 21, 2025, the Term Note balance of $875 thousand was paid in full and no future principal payments are due. As of December 31, 2025, $0 was outstanding on the RLOC. Effective October 17, 2022, the Company entered into an interest rate swap agreement, with a notional amount of $1,958 thousand, effectively fixing the interest rate on the Company’s outstanding debt at 7.602%. The Company had designated the intertest rate swap, expiring September 2026, as a cash flow hedge and have applied hedge accounting. The fair value of the derivative asset and liability associated with the interest rate swap are not significant. As of January 21, 2025, we terminated our interest rate swap agreement and $12 thousand was reclassified from accumulated other comprehensive loss. Convertible Debt On August 25, 2023, the Company entered into a Convertible Note Purchase Agreement with certain investors for the sale of convertible promissory notes for the aggregate principal amount of $1,100 thousand of which $<span id="xdx_90F_ecustom--ConvertiablePromissoryNotesPurchasedByRelatedParty_c20230801__20230825__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_pn3n3" title="Convertible promissory notes purchased by related party">475 thousand was purchased by related parties including certain members of management and the Board of Directors. As of December 31, 2024, $450 thousand was held by related parties. As of December 31, 2025, $400 thousand was held by related parties after a board member left the Company. The notes are subordinated unsecured obligations of the Company and accrue interest at a rate of 8% per year payable semiannually in arrears on February 25 and August 25 of each year, beginning on February 25, 2024. The notes will mature on August 25, 2026, unless earlier converted or repurchased at a conversion price of $1.15 per share of common stock. The Company may not redeem the notes prior to the maturity date. For the year ended December 31, 2025 and December 31, 2024, interest expense related to the convertible debt was $61 thousand and $88 thousand, respectively. As of January 21, 2025, $350 thousand was converted to common stock, none of which was related parties. As of December 31, 2025 and December 31, 2024, the amount outstanding on the convertible debt was $750 thousand and $1,100 thousand, respectively and included in Convertible note and Convertible note related party on the accompanying Consolidated Balance Sheets.

1000000

Daily SOFR plus 2.85% with monthly interest payments

2000000

Daily SOFR plus 3.1%

875000

1958000

0.07602

12000

1100000

475000

450000

400000

61000

88000

350000

750000

1100000

NOTE 8 – CONVERTIBLE PREFERRED STOCK The Company is authorized to issue Series A Convertible Preferred Stock, par value of $0.001 per share (the “Series A”) and Series B Convertible Preferred Stock, par value of $0.001 per share (the “Series B”). As of December 31, 2025, and 2024, there were <span id="xdx_900_eus-gaap--PreferredStockSharesOutstanding_iI_pid_do_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zLniUggXnZIi" title="Convertible Preferred Stock, outstanding"><span id="xdx_90C_eus-gaap--PreferredStockSharesOutstanding_iI_pid_do_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zsQfqRBvCkl4" title="Convertible Preferred Stock, outstanding">no shares of Series A outstanding and <span id="xdx_903_eus-gaap--PreferredStockSharesOutstanding_iI_pid_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zDTFqqMMQbj8" title="Convertible Preferred Stock, outstanding"><span id="xdx_90C_eus-gaap--PreferredStockSharesOutstanding_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z8tjxybTiKC2" title="Convertible Preferred Stock, outstanding">0.85 of a share of Series B outstanding convertible into <span id="xdx_909_eus-gaap--ConversionOfStockSharesConverted1_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zjoAEJ0mF6J1" title="Number of shares converted"><span id="xdx_900_eus-gaap--ConversionOfStockSharesConverted1_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zSYmlGbMOdO1" title="Number of shares converted">144,444 shares of common stock. Each share of Series A and Series B has limited voting rights, is entitled to participate with the common stock on liquidation and holders of Series A and Series B are subject to beneficial ownership limitations.

0.85

144444

NOTE 9 – STOCKHOLDERS’ EQUITY The Company expensed $112 thousand and $388 thousand related to restricted stock awards for the years ended December 31, 2025, and December 31, 2024, respectively. The Company expensed $603 thousand and $912 thousand related to restricted stock units for years ended December 31, 2025, and December 31, 2024, respectively. On August 25, 2023, the Company entered into a Convertible Note Purchase Agreement with certain investors for the sale of convertible promissory notes for the aggregate principal amount of $1,100 thousand. As of January 21, 2025, $350 thousand was converted to 313,520 shares of common stock, of which 22,359 were issued from treasury. On January 2, 2025, the Company issued 39,915 shares of common stock, of which <span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20241230__20250102__us-gaap--StatementClassOfStockAxis__custom--TreasuryMember_zebO6dY9URsg" title="Number of shares vested">16,988 were issued from treasury, upon vesting of <span id="xdx_90A_eus-gaap--SharesPaidForTaxWithholdingForShareBasedCompensation_pid_c20241230__20250102__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zv4mjgFwe8Af" title="Shares of common stock withheld for taxes">61,011 restricted stock units, net of <span id="xdx_908_eus-gaap--SharesPaidForTaxWithholdingForShareBasedCompensation_pid_c20241230__20250102__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zEdtc6UNVvGi" title="Shares of common stock withheld for taxes">21,096 shares withheld for taxes related to stock grants on July 20, 2023 and July 1, 2024. On March 31, 2025, the Company issued <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20250301__20250331__us-gaap--AwardTypeAxis__custom--RestrictedCommonStockMember_za5q7moA82X4" title="Stock issued for services">60,000 shares of restricted common stock, vesting immediately with a value of $41 thousand, for consulting services. On September 30, 2025, the Company issued an additional <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20250901__20250930__us-gaap--AwardTypeAxis__custom--RestrictedCommonStockMember_zueGBXyvRK09" title="Stock issued for services">60,000 shares of restricted common stock, vesting immediately with a value of $45 thousand, for consulting services. On April 1, 2025, the Company issued 5,792 shares of common stock upon vesting of <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20250330__20250402__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zVGii6DIsDT4" title="Shares of common stock withheld for taxes">7,000 restricted stock units, net of <span id="xdx_904_eus-gaap--SharesPaidForTaxWithholdingForShareBasedCompensation_pid_c20250330__20250402__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zmlIbxbmSxPg" title="Shares of common stock withheld for taxes">1,208 shares withheld for taxes related to a stock grant on September 1, 2024. On June 19, 2025, the Company issued 41,849 shares of common stock from treasury, upon vesting of <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20250602__20250619__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zji76XTccSF3" title="Stock issued for services">68,027 restricted stock units, net of <span id="xdx_909_eus-gaap--SharesPaidForTaxWithholdingForShareBasedCompensation_pid_c20250602__20250619__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_ziujmTUjlsu1" title="Shares of common stock withheld for taxes">26,178 shares withheld for taxes related to a stock grant on June 19, 2023. On June 30, 2025, the Company issued 2,741 shares of common, upon vesting of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20250601__20250630__us-gaap--AwardTypeAxis__custom--RestrictedCommonStockMember_zAnDdjOyxpXi" title="Stock issued for services">4,000 restricted stock units, net of <span id="xdx_905_eus-gaap--SharesPaidForTaxWithholdingForShareBasedCompensation_pid_c20250601__20250630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zt7T5lm73N19" title="Shares of common stock withheld for taxes">1,259 shares withheld for taxes related to a stock grant on January 1, 2025. On November 3, 2025, the Company issued 30,882 shares of common stock upon vesting of <span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20251101__20251103__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zKxrGd1hm5pk" title="Number of shares vested">46,336 restricted stock units, net of <span id="xdx_906_eus-gaap--SharesPaidForTaxWithholdingForShareBasedCompensation_pid_c20251101__20251103__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zleYrmQf75Xi" title="Shares of common stock withheld for taxes">15,454 shares of common stock withheld for taxes. During the year ended December 31, 2025, the Company issued 89,310 shares of common stock upon the separation of a former director, relating to 89,310 shares of restricted stock units that had previously vested. On March 31, 2024, the Company issued <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20240301__20240331__us-gaap--AwardTypeAxis__custom--RestrictedCommonStockMember_zKo8D3pmr9Uk" title="Stock issued for services">30,000 of restricted common stock, vesting immediately, with a value of $42 thousand, for consulting services. On June 30, 2024, the Company issued an additional <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20240601__20240630__us-gaap--AwardTypeAxis__custom--RestrictedCommonStockMember_z0Ez7nDnuYx2" title="Stock issued for services">30,000 of restricted common stock, vesting immediately, with a value of $42 thousand, for consulting services. On September 30, 2024, the Company issued an additional <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20240901__20240930__us-gaap--AwardTypeAxis__custom--RestrictedCommonStockMember_zjcIxk99Bgt8" title="Stock issued for services">60,000 of restricted common stock, vesting immediately, with a value of $86 thousand, for consulting services. On December 31, 2024, the Company issued an additional <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20241201__20241231__us-gaap--AwardTypeAxis__custom--RestrictedCommonStockMember_z2llJcyZHumi" title="Stock issued for services">60,000 of restricted common stock, vesting immediately, with a value of $81 thousand, for consulting services. On November 4, 2024, the Company issued 54,843 shares of common stock upon vesting of <span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20241101__20241104__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zLqSIrDuzyn2" title="Number of shares vested">69,667 restricted stock units, net of <span id="xdx_901_eus-gaap--SharesPaidForTaxWithholdingForShareBasedCompensation_pid_c20241101__20241104__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zWvbBrc1yHyi" title="Shares of common stock withheld for taxes">14,824 shares of common stock withheld for taxes. During the year ended December 31, 2024, the Company issued 1,750 shares of common stock upon vesting of restricted stock units, and 38,095 shares of common stock from treasury shares, net of common stock withheld for taxes. Non-Qualified Stock Purchase Plan On June 10, 2021, the stockholders of the Company approved a non-qualified stock purchase plan (the “2021 Plan”). The 2021 Plan provides eligible participants, including employees, directors and consultants of the Company, the opportunity to purchase shares of the Company’s common stock thereby increasing their interest in the Company’s continued success. The maximum number of common stock reserved and available for issuance under the 2021 Plan is 500,000 shares. The purchase price of shares of common stock acquired pursuant to the exercise of an option will be the lesser of 85% of the fair market value of a share (a) on the enrollment date, and (b) on the exercise date. The 2021 Plan is not intended to qualify as an employee stock purchase plan under Section 423 of the Internal Revenue Code of 1986, as amended (the “Code”). The Company applied ASC Topic 718, Compensation-Stock Compensation and estimated the fair value using the Black-Scholes model, as the 2021 Plan is considered compensatory. In relation to the 2021 Plan the Company expensed $0 and $4 thousand for the years ended December 31, 2025 and December 31, 2024, respectively. During years ended December 31, 2025 and 2024, the Company received $0 thousand and $21 thousand, respectively, in proceeds related to the 2021 Plan. The Company has currently suspended new offering periods under the 2021 Plan. Shares Held in Treasury As of December 31, 2025, and December 31, 2024, the Company had 481,448 and 290,467 shares, respectively, held in treasury with a value of approximately $502 thousand and $480 thousand, respectively. On February 29, 2024, seven participants exercised their options under the Company’s non-qualified stock purchase plan, and as a result, 21,889 shares were issued from treasury, with an exercise price of $0.97 per share. Shares Repurchase Program In December 2023, the Company’s Board of Directors approved a share repurchase program to allow the Company to spend up to $0.5 million to repurchase shares of its common stock so long as the price does not exceed $1.00 until December 14, 2024. On November 26, 2024, the Company approved an extension of the $0.5 million share repurchase program to repurchase shares of the Company’s common stock through December 31, 2025. The share repurchase program may be modified, suspended, or discontinued at the discretion of the Board of Directors at any time. During the year ended December 31, 2025, the Company repurchased 272,177 shares for $221 thousand under the share repurchase program, which expired December 31, 2025.

112000

388000

603000 912000

1100000

350000

313520

22359

39915

16988

61011

21096

60000

41000

60000

45000

5792

7000

1208

41849

68027

26178

2741

4000

1259

30882

46336

15454

89310

30000

42000

30000

42000

60000

86000

60000

81000

54843

69667

14824

1750

38095

500000 0 4000

21000

481448

290467

502000

480000

21889 0.97

500000

272177

221000

NOTE 10– STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS On November 14, 2017, the Executive Committee of the Company’s Board of Directors adopted the 2017 Equity Incentive Plan (the “2017 Plan”) which covered the potential issuance of <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20171113__20171114__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember__us-gaap--PlanNameAxis__custom--EquityIncentivePlan2017Member_zJJ0l7I5DMMb" title="Stock issued during period shares new issues">260,000 shares of common stock. The 2017 Plan provided that directors, officers, employees, and consultants of the Company were eligible to receive equity incentives under the 2017 Plan at the discretion of the Board of Directors or the Board’s Compensation Committee. On August 10, 2020, the Company’s Board of Directors adopted the 2020 Equity Incentive Plan (the “2020 Plan”) and on September 30, 2020, the Company’s stockholders approved the 2020 Plan, which authorizes the potential issuance of up to <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20200809__20200810__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember__us-gaap--PlanNameAxis__custom--EquityIncentivePlan2017Member_zXdwj4ga6Bw4" title="Stock issued during period shares new issues">1,069,110 shares of common stock. Upon effectiveness of the 2020 Plan, the 2017 Plan was terminated. Shares of common stock underlying existing awards under the 2017 Plan may become available for issuance pursuant to the terms of the 2020 Plan under certain circumstances. Employees and non-employee directors of the Company or its affiliates, and other individuals who perform services for the Company or any of its affiliates, are eligible to receive awards under the 2020 Plan at the discretion of the Board of Directors or the Board’s Compensation Committee. On March 28, 2022, the Company’s Board of Directors adopted the First Amendment to the 2020 Plan and on June 9, 2022, the Company’s stockholders approved the First Amendment to the 2020 Plan, which increased the shares authorized for potential issuance under the 2020 Plan to <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20220302__20220328__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember__us-gaap--PlanNameAxis__custom--EquityIncentivePlan2020Member_zAZqfKgA0Mz9" title="Stock issued during period shares new issues">2,069,100 shares of common stock and extended the term of the 2020 Plan to June 9, 2023. On April 17, 2023, the Company’s Board of Directors adopted the Second Amendment to the 2020 Plan and on June 6, 2023, the Company’s stockholders approved the Second Amendment to the 2020 Plan, which increased the shares authorized for potential issuance under the 2020 Plan to <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20220601__20220609__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember__us-gaap--PlanNameAxis__custom--EquityIncentivePlan2020Member_zSlql1nMBWL8" title="Stock issued during period shares new issues">3,069,110 shares of common stock and extended the term of the 2020 Plan to June 6, 2033, and increased the annual cap on director compensation by $50 thousand. On March 18, 2024, the Company’s Board of Directors adopted the Third Amendment to the 2020 Plan, which on June 4, 2024, was approved by the Company’s stockholders, which increased the shares authorized for potential issuance under the 2020 Plan to <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20240301__20240318__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember__us-gaap--PlanNameAxis__custom--EquityIncentivePlan2020Member_z80xGVlktuz7" title="Stock issued during period shares new issues">4,069,100 shares of common stock and extended the term of the 2020 Plan to June 4, 2034. The 2020 Plan, as amended, is administered by the Compensation Committee which determines the persons to whom awards will be granted, the number of awards to be granted and the specific terms of each grant, including the vesting thereof, subject to the provisions of the plan. <span id="xdx_907_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePriceDescription_c20250101__20251231__us-gaap--AwardTypeAxis__custom--IncentiveStockOptionsMember_zJyFiLgjtsQ9" title="Exercise price, description">In connection with incentive stock options, the exercise price of each option may not be less than 100% of the fair market value of the common stock on the date of the grant (or 110% of the fair market value in the case of a grantee holding more than 10% of the outstanding stock of the Company). The aggregate fair market value (determined at the time of the grant) of stock with respect to which incentive stock options are exercisable for the first time by any individual during any calendar year (under all plans of the Company and its affiliates) shall not exceed $100 thousand, and the options in excess of $100 thousand shall be deemed to be non-qualified stock options, including prices, duration, transferability and limitations on exercise. The maximum number of shares of common stock that may be issued under the 2020 Plan pursuant to incentive stock options may not exceed, in the aggregate, <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20251231__us-gaap--PlanNameAxis__custom--IssuedUnderThe2020PlanMember_z28gaIUO2hU1" title="Incentive stock options granted">1,000,000. The Company has issued non-qualified stock options pursuant to contractual agreements with non-employees. Options granted under the agreements are expensed when the related service or product is provided. Determining the appropriate fair value of stock-based awards requires the input of subjective assumptions. The Company uses the Black-Scholes option pricing model to value its stock option awards. The assumptions used in calculating the fair value represent management’s best estimates and involve inherent uncertainties and judgements. Stock Options The following table summarizes the activities for the Company’s stock options as of December 31, 2025, and 2024: <table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_pn3n3_zu5SQ1b6dXy" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of stock options</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Weighted -</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Remaining</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Aggregate</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Weighted-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Contractual</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Intrinsic</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Term</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Value</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(in years)</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(in thousands)(1)</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 39%; text-align: left">Balance as of December 31, 2023</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zkObkQi6gcze" title="Balance at beginning">301,471</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241230__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zJaVPmSu8Qd1" title="Weighted Average Exercise Price, Balance at beginning">4.56</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zr0jL306jvv" title="Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zpJWABlJKrHf" title="Weighted Average Exercise Price, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeited/Cancelled/Expired</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zRwjm0jrhh5a" title="Forfeited/Cancelled/Expired">(80,471</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zZRGuustTHf1" title="Weighted Average Exercise Price, Forfeited/Cancelled/Expired">7.27</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance as of December 31, 2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zHVkmflqPjjj" title="Balance at beginning">221,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zoAE6M6YKnle" title="Weighted Average Exercise Price, Balance at beginning">3.57</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z41V8uwoZ18l" title="Weighted Average Remaining Contractual Term">0.4</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pn3n3_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_fKDEp_za1npEbWP2ba" title="Aggregate Intrinsic Value, option outstanding">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 18pt; text-align: left">Exercisable as of December 31, 2024</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zKzcibcXcsck" title="Vested and Exercisable at beginning">221,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z7glyxmgq7w5" title="Weighted Average Exercise Price, Exercisable at beginning">3.57</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zwe0zoN0w3B1" title="Weighted Average Remaining Contractual Term, Exercisable at beginning">0.4</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pn3n3_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_fKDEp_zVwF6gSJjzx4" title="Aggregate Intrinsic Value">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zHCbQvQ3NVI5" title="Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zuRRb5w5yvk5" title="Weighted Average Exercise Price, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeited/Cancelled/Expired</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zeFISlaBEqFb" title="Forfeited/Cancelled/Expired">(221,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_ztzojD3o9Cid" title="Weighted Average Exercise Price, Forfeited/Cancelled/Expired">3.57</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance as of December 31, 2025</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zLb3UCjGOXGj" title="Balance at ending">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zbID2wfPccO6" title="Weighted Average Exercise Price, Balance at ending">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pn3n3_c20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_fKDEp_zCkrtP9xWJ43" title="Aggregate Intrinsic Value, option outstanding">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 18pt; text-align: left">Exercisable as of December 31, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zCiEPfVVJQ6l" title="Vested and Exercisable at ending">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zioSLgmY8aSj" title="Weighted Average Exercise Price, Exercisable at ending">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pn3n3_c20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_fKDEp_zKoI7CDY7Vai" title="Aggregate Intrinsic Value">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td id="xdx_F07_zrWns2I5c447" style="width: 27pt">(1)</td><td id="xdx_F14_zniWvqFTFpo6" style="text-align: justify">The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock for options that were in-the-money at each respective period. </td></tr></table> As of December 31, 2025, the Company has no outstanding stock options. During the year ended December 31, 2025, and 2024, the Company expensed $0 thousand with respect to options. As of December 31, 2025, and 2024, there was $0 unrecognized compensation cost related to outstanding stock options. Restricted Stock Awards and Restricted Stock Units The following table summarizes the unvested restricted stock awards as of December 31, 2025 and 2024: <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingTableTextBlock_pn3n3_zWgenn1FJiC9" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of unvested options</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Weighted -</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Grant</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">Award Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">Date Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 63%; text-align: left">Unvested at December 31, 2023</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zGy68GllXYPl" title="Number of award shares at beginning">416,669</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_z3dUIfApkm2l" title="Weighted average grant date fair value at beginning">1.44</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_z2I837axK7Dj" title="Number of award shares Granted">140,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_z4obPMK3Oi33" title="Weighted average grant date fair value Granted">1.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_iN_pid_di_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zBybxxB772L8" title="Number of award shares Vested">(416,669</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zfstMiujUQd5" title="Weighted average grant date fair value Vested">1.44</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zN8yf4WcRk68" title="Number of award shares at beginning">140,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zjWyOaUOAsW2" title="Weighted average grant date fair value at beginning">1.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zUTz8R66Hjma" title="Number of award shares Granted">70,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zBA9BpjuYXyd" title="Weighted average grant date fair value Granted">1.04</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_iN_pid_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zU3uuqI4feIe" title="Number of award shares Vested">(140,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zl452D03jNc" title="Weighted average grant date fair value Vested">1.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_z9BJnllu9fjf" title="Number of award shares at ending">70,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_z1NmEbLz4rD3" title="Weighted average grant date fair value at ending">1.04</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of December 31, 2025, and 2024, total unrecognized share-based compensation cost related to unvested restricted stock awards was $56 thousand and $96 thousand respectively, which is expected to be recognized over a weighted-average period of <span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z0s7eEQX3zVi" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term">0.8 years as of December 31, 2025. The following table summarizes the unvested restricted stock units as of December 31, 2025 and 2024: <table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock_pn3n3_zm8ILqDP8pj" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of unvested restricted stock awards</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unvested Restricted Stock Units</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Weighted -</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Grant</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unit Shares</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 63%; text-align: left">Unvested at December 31, 2023</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_90A_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStock_iS_pid_c20231231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_z1jqqFXtdJfd" title="Balance at beginning">371,253</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_900_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockWeightedAverageGrantDateFairValue_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zV77YscGiZul" title="Weighted - Average Grant Date Fair Value, Balance at beginning">1.32</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodGross_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zpW47qyY9jLb" title="Granted">88,011</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zGrquyNBzH2k" title="Weighted - Average Grant Date Fair Value, Granted">1.46</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockVestedNumberOfShares_iN_pid_di_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zeYYXLOz5Mc9" title="Vested">(160,194</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockVestedInPeriodWeightedAverageGrantDateFairValue1_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zcnZncCH4DO" title="Weighted - Average Grant Date Fair Value, Vested">1.31</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeit/Cancelled</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zclXoqphesEb" title="Forfeited/Cancelled">(25,334</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zhKss1axTufd" title="Weighted - Average Grant Date Fair Value, Forfeited/Cancelled">1.23</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unvested at December 31, 2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStock_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zlJ8rvnDjdf6" title="Balance at beginning">273,736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockWeightedAverageGrantDateFairValue_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zToQhBwJTlTi" title="Weighted - Average Grant Date Fair Value, Balance at beginning">1.38</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodGross_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zlbdlcPwb6k" title="Granted">180,773</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zp0FO87jqpTb" title="Weighted - Average Grant Date Fair Value, Granted">1.34</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockVestedNumberOfShares_iN_pid_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zOxgss5ra6hd" title="Vested">(201,374</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockVestedInPeriodWeightedAverageGrantDateFairValue1_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zLA96FPh56Uf" title="Weighted - Average Grant Date Fair Value, Vested">1.39</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeited/Cancelled</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zpM0H7FLQU84" title="Forfeited/Cancelled">(20,334</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zlWZzaFngdw" title="Weighted - Average Grant Date Fair Value, Forfeited/Cancelled">1.57</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStock_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zyFfY5xz76ki" title="Balance at ending">232,801</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockWeightedAverageGrantDateFairValue_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zBv3wPsvuh6f" title="Weighted - Average Grant Date Fair Value, Balance at ending">1.32</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of December 31, 2025, and 2024, total unrecognized share-based compensation cost related to unvested restricted stock units was $83 thousand and $120 thousand respectively, which is expected to be recognized over a weighted-average period of <span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zQRjoXU4u6ph" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term">0.5 years as of December 31, 2025. For RSUs with stock price appreciation targets, we applied a lattice approach that incorporated a Monte Carlo simulation, which involved random iterations that took different future price paths over the RSU’s contractual life based on the appropriate probability distributions (which are based on commonly applied Black Scholes inputs). The fair value of each grant was determined by taking the average of the grant date fair values under each Monte Carlo simulation trial. We recognize compensation expense on a straight-line basis over the derived service period and there is no ongoing adjustment or reversal based on actual achievement during the period. The following table summarizes the unvested performance restricted stock units as of December 31, 2025 and 2024: <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_pn3n3_zrRqjNWE2fid" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of unvested restricted stock units</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unvested Performance Restricted Stock Units</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Weighted -</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Grant</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unit Shares</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 63%; text-align: left">Unvested at December 31, 2023</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_908_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStock_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zMXqOlcc1j5i" title="Balance at beginning">1,438,760</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_907_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockWeightedAverageGrantDateFairValue_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zsWQlr2NdFi6" title="Weighted - Average Grant Date Fair Value, Balance at beginning">1.51</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodGross_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_z8IajSMn9E2l" title="Granted">555,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zQP5Tm35w2Y7" title="Weighted - Average Grant Date Fair Value, Granted">1.08</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockVestedNumberOfShares_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zMwLbQtGxRrh" title="Vested">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockVestedInPeriodWeightedAverageGrantDateFairValue1_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zNo6yFTpmtXl" title="Weighted - Average Grant Date Fair Value, Vested">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeited/Cancelled</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zbsgQUVmPihe" title="Forfeited/Cancelled">(387,100</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zWGqzwyPCeE6" title="Weighted - Average Grant Date Fair Value, Forfeited/Cancelled">1.47</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStock_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zIzEbXktyFe9" title="Balance at beginning">1,606,660</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockWeightedAverageGrantDateFairValue_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zmG2XIfWjCd6" title="Weighted - Average Grant Date Fair Value, Balance at beginning">1.37</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodGross_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zpDyu35QahX1" title="Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zrlvUyCowy51" title="Weighted - Average Grant Date Fair Value, Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockVestedNumberOfShares_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zA8WCCemOVzi" title="Vested">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockVestedInPeriodWeightedAverageGrantDateFairValue1_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zTHAuu0zjH3k" title="Weighted - Average Grant Date Fair Value, Vested">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeited/Cancelled</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_ztyBmcicZuUc" title="Forfeited/Cancelled">(285,069</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zwADSMuiiqn9" title="Weighted - Average Grant Date Fair Value, Forfeited/Cancelled">2.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStock_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_z51e8UIOI3f1" title="Balance at ending">1,321,591</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90B_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockWeightedAverageGrantDateFairValue_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_z3klrJgx6SHf" title="Weighted - Average Grant Date Fair Value, Balance at ending">1.15</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of December 31, 2025, and December 31, 2024 total unrecognized share-based compensation cost related to unvested restricted stock units was $158 thousand and $577 thousand, respectively, which is expected to be recognized over a weighted-average period of <span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__custom--NonvestedStockOptionsMember_z7wuwyJJFI46" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term">0.5 years as of December 31, 2025. Warrants The following table summarizes the activities for the Company’s warrants for the year ended December 31, 2025 and 2024: <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_pn3n3_zJsijC603QA9" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS (Details 4)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of warrants outstanding</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants Outstanding (Excluding Pre-Funded Warrants)</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Number of Warrant Shares</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">Weighted- Average Exercise Price</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">Weighted - Average Remaining Contractual Term in years)</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">Aggregate Intrinsic Value (in thousands)(1)</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Balance at December 31, 2023</td><td style="width: 1%; text-align: left"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20240101__20241231_zpY6JSMYwMwi" title="Number of warrants outstanding, beginning balance">4,628,586</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_905_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231_zg5EB7lPhFm5" title="Weighted average exercise price, beginning balance">4.13</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_z2dGS1sFGdB7" title="Weighted average exercise price, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expired</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_pid_di_c20240101__20241231_ziPjgIQ7KSsh" title="Number of warrants, expired">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_zW11MnkCo6J" title="Weighted average exercise price, expired">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2024</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20250101__20251231_zo0DCuMx0Xz7" title="Number of warrants outstanding, beginning balance">4,628,586</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20251231_zkWNEfH3xFe7" title="Weighted average exercise price, beginning balance">4.13</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">1,461,896</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231_zD5uLLKBkRX7" title="Weighted average exercise price, granted">4.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Exercised</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--NumberOfWarrantsExercised_iP3custom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231_zarBYh3gBBbf" title="Number of warrants, exercised">(1,461,896</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.22</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expired</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_pid_di_c20250101__20251231_zzlDQfWoD0ai" title="Number of warrants, expired">(3,073,379</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231_zxN4HqJcNKJc" title="Weighted average exercise price, expired">4.60</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20250101__20251231_zvsmuhWnrqr2" title="Number of warrants outstanding, ending balance">1,555,207</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20251231_zON5FaMVUpwc" title="Weighted average exercise price, ending balance">3.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20250101__20251231_zJQ2gxi8OIm2" title="Weighted average remaining contractual terms">4.4</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Exercisable at December 31, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,555,207</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20251231_z0cogpV0k74e" title="Weighted average exercise price, exercisable">3.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingExercisableWeightedAverageRemainingContractualTerms_dtY_c20250101__20251231_zgvEfDAAVQ47" title="Weighted average remaining contractual terms, exercisable">4.4</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOtherThanOptionsExercisableIntrinsicValue1_iI_pn3n3_c20251231_fMQ_____zixBLZOX9qa7" title="Aggregate intrinsic value, exercisable">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 20pt"></td><td id="xdx_F0D_ziWmZWxzDbul" style="width: 34pt">(1)</td><td id="xdx_F17_zTw2aTVGEmkh" style="text-align: justify">The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying warrants and the closing stock price of $0.60 for our common stock on December 31, 2025.</td></tr></table> On January 13, 2025, the Company entered into a warrant inducement agreement with an institutional investor and holder of existing warrants to purchase up to 1,461,896 shares of our common stock. The existing warrants were originally issued on April 14, 2022, with an exercise price of $3.215 per share and became exercisable six months following issuance. The net proceeds from the warrant exercise was $4.3 million. In exchange for the investor’s exercise of the existing warrants, the Company issued new warrants to purchase an equal number of shares at an exercise price of $4.00 per share. The new warrants were immediately exercisable and have a contractual term of five and one-half years from the issuance date. The Company recognized the fair value of the new warrants using the Black-Scholes option pricing model. The fair value of the new warrants was estimated at $3,971 thousand. The transaction was treated as an equity issuance, and the fair value of the new warrants was recorded in additional paid-in capital. Direct transaction costs totaling approximately $352 thousand, including legal fees and placement agent commissions, were also recorded as a reduction to additional paid-in capital. On June 23, 2025, the Company’s warrants listed on Nasdaq under the symbol “VRMEW” (the “Uplist Warrants”) expired pursuant to the terms of the Form of Common Stock Purchase Warrant. On June 23, 2025, Nasdaq filed a Form 25 formalizing the suspension of the Uplist Warrants. The following table presents the assumptions used to estimate the fair value of the new warrants on January 13, 2025: <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_pn3n3_ztHhzVLNV1wa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%" summary="xdx: Disclosure - STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS (Details 5)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of assumptions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">January 13, 2025</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Risk free interest rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">4.34</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected life</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.75 years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> At-the-Market Equity Offering Program On March 6, 2025, the Company entered into an At-The-Market Sales Agreement (“ATM”) with Roth Capital Partners, LLC (“Roth”), pursuant to which the Company may issue and sell, from time to time, shares of its common stock up to an aggregate offering price of $<span id="xdx_908_ecustom--AggregateOfferingPrice_pn3n3_dm_c20250301__20250306__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothCapitalPartnersLLCMember__us-gaap--TransactionTypeAxis__custom--AtTheMarketSalesAgreementMember_z5tFGImAZtol" title="Aggregate offering price">15.8 million (“ATM Program”). Roth acts as the Company’s sales agent and is entitled to a <span id="xdx_907_ecustom--CommissionOnGrossProceeds_c20250301__20250306__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothCapitalPartnersLLCMember__us-gaap--TransactionTypeAxis__custom--AtTheMarketSalesAgreementMember_pdd" title="Commission on gross proceeds">3.0% commission on gross proceeds from sales under the program. During the year ended December 31, 2025, and through the date of this filing, the Company sold an aggregate of <span id="xdx_900_ecustom--NumberOfSharesSoldAggregate_pid_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothCapitalPartnersLLCMember__us-gaap--TransactionTypeAxis__custom--AtTheMarketSalesAgreementMember_zJTY8WdXPTtg" title="Number of shares sold aggregate">628,432 shares of its common stock pursuant to the ATM program. The Company provided notice on February 11, 2026 to Roth of its election to terminate the ATM Program, which by the terms of the At-The-Market Sales Agreement became effective on February 16, 2026, in connection with the Board of Directors’ approval of the Merger Agreement with Open World Ltd. In connection with the ATM Program, the Company incurred direct legal and audit fees totaling $<span id="xdx_909_ecustom--LegalAndAuditFees_c20250301__20250306__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothCapitalPartnersLLCMember__us-gaap--TransactionTypeAxis__custom--AtTheMarketSalesAgreementMember_pn3n3" title="Legal and audit fees">209 thousand. The costs were recorded as deferred offering costs within other current assets to be reclassified to additional paid-in capital on a pro-rata basis as shares are issued. For the year ended December 31, 2025, we reclassified $<span id="xdx_90E_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RothCapitalPartnersLLCMember__us-gaap--TransactionTypeAxis__custom--AtTheMarketSalesAgreementMember_pn3n3" title="Additional paid-in capital">8 thousand to additional paid-in capital on a pro-rata basis as shares were issued. Upon terminating the program on February 16, 2026, we expensed $201 thousand remaining deferred costs to general and administrative expenses.

260000

1069110

2069100

3069110

4069100

In connection with incentive stock options, the exercise price of each option may not be less than 100% of the fair market value of the common stock on the date of the grant (or 110% of the fair market value in the case of a grantee holding more than 10% of the outstanding stock of the Company). The aggregate fair market value (determined at the time of the grant) of stock with respect to which incentive stock options are exercisable for the first time by any individual during any calendar year (under all plans of the Company and its affiliates) shall not exceed $100 thousand, and the options in excess of $100 thousand shall be deemed to be non-qualified stock options, including prices, duration, transferability and limitations on exercise. The maximum number of shares of common stock that may be issued under the 2020 Plan pursuant to incentive stock options may not exceed, in the aggregate, 1,000,000.

1000000

<table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_pn3n3_zu5SQ1b6dXy" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of stock options</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Weighted -</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Remaining</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Aggregate</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Weighted-</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Contractual</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Intrinsic</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Term</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Value</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(in years)</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(in thousands)(1)</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 39%; text-align: left">Balance as of December 31, 2023</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zkObkQi6gcze" title="Balance at beginning">301,471</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241230__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zJaVPmSu8Qd1" title="Weighted Average Exercise Price, Balance at beginning">4.56</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zr0jL306jvv" title="Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zpJWABlJKrHf" title="Weighted Average Exercise Price, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeited/Cancelled/Expired</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zRwjm0jrhh5a" title="Forfeited/Cancelled/Expired">(80,471</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zZRGuustTHf1" title="Weighted Average Exercise Price, Forfeited/Cancelled/Expired">7.27</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance as of December 31, 2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zHVkmflqPjjj" title="Balance at beginning">221,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zoAE6M6YKnle" title="Weighted Average Exercise Price, Balance at beginning">3.57</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z41V8uwoZ18l" title="Weighted Average Remaining Contractual Term">0.4</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pn3n3_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_fKDEp_za1npEbWP2ba" title="Aggregate Intrinsic Value, option outstanding">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 18pt; text-align: left">Exercisable as of December 31, 2024</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zKzcibcXcsck" title="Vested and Exercisable at beginning">221,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z7glyxmgq7w5" title="Weighted Average Exercise Price, Exercisable at beginning">3.57</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zwe0zoN0w3B1" title="Weighted Average Remaining Contractual Term, Exercisable at beginning">0.4</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pn3n3_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_fKDEp_zVwF6gSJjzx4" title="Aggregate Intrinsic Value">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zHCbQvQ3NVI5" title="Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zuRRb5w5yvk5" title="Weighted Average Exercise Price, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeited/Cancelled/Expired</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zeFISlaBEqFb" title="Forfeited/Cancelled/Expired">(221,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_ztzojD3o9Cid" title="Weighted Average Exercise Price, Forfeited/Cancelled/Expired">3.57</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance as of December 31, 2025</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zLb3UCjGOXGj" title="Balance at ending">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zbID2wfPccO6" title="Weighted Average Exercise Price, Balance at ending">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pn3n3_c20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_fKDEp_zCkrtP9xWJ43" title="Aggregate Intrinsic Value, option outstanding">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 18pt; text-align: left">Exercisable as of December 31, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zCiEPfVVJQ6l" title="Vested and Exercisable at ending">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zioSLgmY8aSj" title="Weighted Average Exercise Price, Exercisable at ending">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pn3n3_c20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_fKDEp_zKoI7CDY7Vai" title="Aggregate Intrinsic Value">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td id="xdx_F07_zrWns2I5c447" style="width: 27pt">(1)</td><td id="xdx_F14_zniWvqFTFpo6" style="text-align: justify">The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock for options that were in-the-money at each respective period. </td></tr></table>

301471

4.56

80471

7.27

221000

3.57

P0Y4M24D

221000

3.57

P0Y4M24D

221000

3.57

0 0

<table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingTableTextBlock_pn3n3_zWgenn1FJiC9" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of unvested options</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Weighted -</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Grant</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">Award Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">Date Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 63%; text-align: left">Unvested at December 31, 2023</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zGy68GllXYPl" title="Number of award shares at beginning">416,669</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_z3dUIfApkm2l" title="Weighted average grant date fair value at beginning">1.44</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_z2I837axK7Dj" title="Number of award shares Granted">140,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_z4obPMK3Oi33" title="Weighted average grant date fair value Granted">1.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_iN_pid_di_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zBybxxB772L8" title="Number of award shares Vested">(416,669</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zfstMiujUQd5" title="Weighted average grant date fair value Vested">1.44</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zN8yf4WcRk68" title="Number of award shares at beginning">140,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zjWyOaUOAsW2" title="Weighted average grant date fair value at beginning">1.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zUTz8R66Hjma" title="Number of award shares Granted">70,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zBA9BpjuYXyd" title="Weighted average grant date fair value Granted">1.04</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_iN_pid_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zU3uuqI4feIe" title="Number of award shares Vested">(140,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zl452D03jNc" title="Weighted average grant date fair value Vested">1.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_z9BJnllu9fjf" title="Number of award shares at ending">70,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_z1NmEbLz4rD3" title="Weighted average grant date fair value at ending">1.04</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

416669

1.44

140000

1.60

416669

1.44

140000

1.60

70000

1.04

140000

1.60

70000

1.04

56000 96000

P0Y9M18D

<table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock_pn3n3_zm8ILqDP8pj" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of unvested restricted stock awards</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unvested Restricted Stock Units</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Weighted -</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Grant</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unit Shares</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 63%; text-align: left">Unvested at December 31, 2023</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_90A_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStock_iS_pid_c20231231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_z1jqqFXtdJfd" title="Balance at beginning">371,253</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_900_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockWeightedAverageGrantDateFairValue_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zV77YscGiZul" title="Weighted - Average Grant Date Fair Value, Balance at beginning">1.32</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodGross_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zpW47qyY9jLb" title="Granted">88,011</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zGrquyNBzH2k" title="Weighted - Average Grant Date Fair Value, Granted">1.46</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockVestedNumberOfShares_iN_pid_di_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zeYYXLOz5Mc9" title="Vested">(160,194</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockVestedInPeriodWeightedAverageGrantDateFairValue1_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zcnZncCH4DO" title="Weighted - Average Grant Date Fair Value, Vested">1.31</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeit/Cancelled</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zclXoqphesEb" title="Forfeited/Cancelled">(25,334</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zhKss1axTufd" title="Weighted - Average Grant Date Fair Value, Forfeited/Cancelled">1.23</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unvested at December 31, 2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStock_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zlJ8rvnDjdf6" title="Balance at beginning">273,736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockWeightedAverageGrantDateFairValue_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zToQhBwJTlTi" title="Weighted - Average Grant Date Fair Value, Balance at beginning">1.38</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodGross_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zlbdlcPwb6k" title="Granted">180,773</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zp0FO87jqpTb" title="Weighted - Average Grant Date Fair Value, Granted">1.34</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockVestedNumberOfShares_iN_pid_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zOxgss5ra6hd" title="Vested">(201,374</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockVestedInPeriodWeightedAverageGrantDateFairValue1_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zLA96FPh56Uf" title="Weighted - Average Grant Date Fair Value, Vested">1.39</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeited/Cancelled</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zpM0H7FLQU84" title="Forfeited/Cancelled">(20,334</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zlWZzaFngdw" title="Weighted - Average Grant Date Fair Value, Forfeited/Cancelled">1.57</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStock_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zyFfY5xz76ki" title="Balance at ending">232,801</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockWeightedAverageGrantDateFairValue_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_zBv3wPsvuh6f" title="Weighted - Average Grant Date Fair Value, Balance at ending">1.32</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

371253 1.32 88011 1.46 160194 1.31

25334000

1.23

273736 1.38 180773 1.34 201374 1.39

20334

1.57

232801 1.32 83000 120000

P0Y6M

<table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_pn3n3_zrRqjNWE2fid" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of unvested restricted stock units</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unvested Performance Restricted Stock Units</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Weighted -</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center">Grant</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unit Shares</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 63%; text-align: left">Unvested at December 31, 2023</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_908_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStock_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zMXqOlcc1j5i" title="Balance at beginning">1,438,760</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_907_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockWeightedAverageGrantDateFairValue_iS_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zsWQlr2NdFi6" title="Weighted - Average Grant Date Fair Value, Balance at beginning">1.51</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodGross_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_z8IajSMn9E2l" title="Granted">555,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zQP5Tm35w2Y7" title="Weighted - Average Grant Date Fair Value, Granted">1.08</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockVestedNumberOfShares_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zMwLbQtGxRrh" title="Vested">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockVestedInPeriodWeightedAverageGrantDateFairValue1_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zNo6yFTpmtXl" title="Weighted - Average Grant Date Fair Value, Vested">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeited/Cancelled</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zbsgQUVmPihe" title="Forfeited/Cancelled">(387,100</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zWGqzwyPCeE6" title="Weighted - Average Grant Date Fair Value, Forfeited/Cancelled">1.47</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStock_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zIzEbXktyFe9" title="Balance at beginning">1,606,660</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockWeightedAverageGrantDateFairValue_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zmG2XIfWjCd6" title="Weighted - Average Grant Date Fair Value, Balance at beginning">1.37</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodGross_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zpDyu35QahX1" title="Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zrlvUyCowy51" title="Weighted - Average Grant Date Fair Value, Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockVestedNumberOfShares_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zA8WCCemOVzi" title="Vested">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockVestedInPeriodWeightedAverageGrantDateFairValue1_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zTHAuu0zjH3k" title="Weighted - Average Grant Date Fair Value, Vested">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forfeited/Cancelled</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_ztyBmcicZuUc" title="Forfeited/Cancelled">(285,069</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_zwADSMuiiqn9" title="Weighted - Average Grant Date Fair Value, Forfeited/Cancelled">2.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStock_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_z51e8UIOI3f1" title="Balance at ending">1,321,591</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90B_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardRestrictedStockWeightedAverageGrantDateFairValue_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--UnvestedPerformanceRestrictedStockUnitsMember_z3klrJgx6SHf" title="Weighted - Average Grant Date Fair Value, Balance at ending">1.15</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1438760 1.51 555000 1.08

387100

1.47

1606660 1.37

285069

2.40

1321591 1.15 158000 577000

P0Y6M

<table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_pn3n3_zJsijC603QA9" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS (Details 4)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of warrants outstanding</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants Outstanding (Excluding Pre-Funded Warrants)</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Number of Warrant Shares</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">Weighted- Average Exercise Price</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">Weighted - Average Remaining Contractual Term in years)</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">Aggregate Intrinsic Value (in thousands)(1)</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Balance at December 31, 2023</td><td style="width: 1%; text-align: left"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20240101__20241231_zpY6JSMYwMwi" title="Number of warrants outstanding, beginning balance">4,628,586</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_905_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231_zg5EB7lPhFm5" title="Weighted average exercise price, beginning balance">4.13</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_z2dGS1sFGdB7" title="Weighted average exercise price, granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expired</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_pid_di_c20240101__20241231_ziPjgIQ7KSsh" title="Number of warrants, expired">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_zW11MnkCo6J" title="Weighted average exercise price, expired">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2024</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20250101__20251231_zo0DCuMx0Xz7" title="Number of warrants outstanding, beginning balance">4,628,586</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20251231_zkWNEfH3xFe7" title="Weighted average exercise price, beginning balance">4.13</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Granted</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right">1,461,896</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231_zD5uLLKBkRX7" title="Weighted average exercise price, granted">4.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Exercised</td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--NumberOfWarrantsExercised_iP3custom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231_zarBYh3gBBbf" title="Number of warrants, exercised">(1,461,896</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.22</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expired</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_pid_di_c20250101__20251231_zzlDQfWoD0ai" title="Number of warrants, expired">(3,073,379</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231_zxN4HqJcNKJc" title="Weighted average exercise price, expired">4.60</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Balance at December 31, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20250101__20251231_zvsmuhWnrqr2" title="Number of warrants outstanding, ending balance">1,555,207</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20251231_zON5FaMVUpwc" title="Weighted average exercise price, ending balance">3.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20250101__20251231_zJQ2gxi8OIm2" title="Weighted average remaining contractual terms">4.4</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Exercisable at December 31, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,555,207</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20251231_z0cogpV0k74e" title="Weighted average exercise price, exercisable">3.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingExercisableWeightedAverageRemainingContractualTerms_dtY_c20250101__20251231_zgvEfDAAVQ47" title="Weighted average remaining contractual terms, exercisable">4.4</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOtherThanOptionsExercisableIntrinsicValue1_iI_pn3n3_c20251231_fMQ_____zixBLZOX9qa7" title="Aggregate intrinsic value, exercisable">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 20pt"></td><td id="xdx_F0D_ziWmZWxzDbul" style="width: 34pt">(1)</td><td id="xdx_F17_zTw2aTVGEmkh" style="text-align: justify">The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying warrants and the closing stock price of $0.60 for our common stock on December 31, 2025.</td></tr></table>

4628586

4.13

4628586

4.13

1461896

4.00 -1461896 3.22

3073379

4.60

1555207

3.95

P4Y4M24D

1555207 3.95 P4Y4M24D 1461896

3.215

4300000

4.00

3971000

352000

<table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_pn3n3_ztHhzVLNV1wa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%" summary="xdx: Disclosure - STOCK OPTIONS, RESTRICTED STOCK AND WARRANTS (Details 5)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of assumptions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">January 13, 2025</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Risk free interest rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">4.34</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected life</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.75 years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table>

0.0434

P2Y9M

1.71

15800000 0.030 628432 209000

8000

NOTE 11—LOSS PER SHARE Basic loss per share (EPS) is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution of common stock equivalent shares that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The dilutive common stock equivalent shares consist of preferred stock, stock options, warrants, restricted stock awards, and restricted stock units computed under the treasury stock method, using the average market price during the period. The following table sets forth the computation of basic loss per share (in thousands, except share and per share data): <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_pn3n3_zuCFu6uxlpD6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%" summary="xdx: Disclosure - LOSS PER SHARE (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of basic and diluted earnings/(loss) per share</td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20250101_20251231" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20240101_20241231" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Years Ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_403_ecustom--NumeratorAbstract_iB" style="vertical-align: bottom"> <td style="white-space: nowrap">Numerator:</td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLoss_i01_pn3n3_zAb95cKMRI2h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; width: 64%; text-align: left; padding-bottom: 2.5pt">Net loss:</td><td style="width: 1%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 15%; text-align: right">(4,905</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 15%; text-align: right">(3,824</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_403_ecustom--DenominatorAbstract_iB" style="vertical-align: bottom; background-color: White"> <td>Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i01_pid_zUu9qUI4Wlsk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average shares of common stock – basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,619,512</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,402,508</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--EarningsPerShareBasicAbstract_iB" style="vertical-align: bottom; background-color: White"> <td>Loss per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareBasic_i01_pid_zjmFWmXkimbe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; padding-bottom: 2.5pt">Basic</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.39</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.37</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--EarningsPerShareDiluted_i01_pid_zAx9eB2fxXs5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; padding-bottom: 2.5pt">Diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.39</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.37</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> The following table represents the weighted average number of anti-dilutive instruments excluded from the computation of diluted loss per share: <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_pn3n3_zwZQAugvTxSj" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%" summary="xdx: Disclosure - LOSS PER SHARE (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of anti-dilutive earnings per share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: right"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Years Ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: right"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap">Anti-dilutive instruments excluded from computation of diluted net loss per share:</td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Preferred Stock</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PreferredStockMember_zzelmjmoSoC" title="Anti-dilutive shares">144,444</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_909_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PreferredStockMember_za3K00K7zqng" title="Anti-dilutive shares">144,444</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock Options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--StockOptionsMember_zVYUiCqOe3Lc" title="Anti-dilutive shares">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--StockOptionsMember_znQnlNHEoNnc" title="Anti-dilutive shares">221,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zX5DDxM4Uqfb" title="Anti-dilutive shares">1,555,207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zVsa6FE2qfN3" title="Anti-dilutive shares">4,628,586</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock purchase plan</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--StockPurchasePlanMember_zURAvlBWToA8" title="Anti-dilutive shares">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--StockPurchasePlanMember_zzD34jErZMji" title="Anti-dilutive shares">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Convertible note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteMember_znqjYd2rmPWb" title="Anti-dilutive shares">652,174</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteMember_zFrDfMsVn1A9" title="Anti-dilutive shares">956,527</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Restricted Stock Units and Restricted Stock Awards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--RestrictedStockUnitsAndRestrictedStockAwardsMember_zVn93zuWp552" title="Anti-dilutive shares">1,624,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--RestrictedStockUnitsAndRestrictedStockAwardsMember_zCVXf2aQY3Dl" title="Anti-dilutive shares">2,020,396</td><td style="text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_pn3n3_zuCFu6uxlpD6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%" summary="xdx: Disclosure - LOSS PER SHARE (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of basic and diluted earnings/(loss) per share</td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20250101_20251231" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20240101_20241231" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Years Ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_403_ecustom--NumeratorAbstract_iB" style="vertical-align: bottom"> <td style="white-space: nowrap">Numerator:</td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLoss_i01_pn3n3_zAb95cKMRI2h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; width: 64%; text-align: left; padding-bottom: 2.5pt">Net loss:</td><td style="width: 1%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 15%; text-align: right">(4,905</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 15%; text-align: right">(3,824</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_403_ecustom--DenominatorAbstract_iB" style="vertical-align: bottom; background-color: White"> <td>Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i01_pid_zUu9qUI4Wlsk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average shares of common stock – basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,619,512</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,402,508</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--EarningsPerShareBasicAbstract_iB" style="vertical-align: bottom; background-color: White"> <td>Loss per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareBasic_i01_pid_zjmFWmXkimbe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; padding-bottom: 2.5pt">Basic</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.39</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.37</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--EarningsPerShareDiluted_i01_pid_zAx9eB2fxXs5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; padding-bottom: 2.5pt">Diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.39</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.37</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-4905000

-3824000

12619512

10402508

-0.39

-0.37

-0.39

-0.37

<table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_pn3n3_zwZQAugvTxSj" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%" summary="xdx: Disclosure - LOSS PER SHARE (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of anti-dilutive earnings per share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: right"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Years Ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: right"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap">Anti-dilutive instruments excluded from computation of diluted net loss per share:</td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Preferred Stock</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PreferredStockMember_zzelmjmoSoC" title="Anti-dilutive shares">144,444</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_909_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PreferredStockMember_za3K00K7zqng" title="Anti-dilutive shares">144,444</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock Options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--StockOptionsMember_zVYUiCqOe3Lc" title="Anti-dilutive shares">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--StockOptionsMember_znQnlNHEoNnc" title="Anti-dilutive shares">221,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zX5DDxM4Uqfb" title="Anti-dilutive shares">1,555,207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zVsa6FE2qfN3" title="Anti-dilutive shares">4,628,586</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock purchase plan</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--StockPurchasePlanMember_zURAvlBWToA8" title="Anti-dilutive shares">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--StockPurchasePlanMember_zzD34jErZMji" title="Anti-dilutive shares">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Convertible note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteMember_znqjYd2rmPWb" title="Anti-dilutive shares">652,174</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteMember_zFrDfMsVn1A9" title="Anti-dilutive shares">956,527</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Restricted Stock Units and Restricted Stock Awards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--RestrictedStockUnitsAndRestrictedStockAwardsMember_zVn93zuWp552" title="Anti-dilutive shares">1,624,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--RestrictedStockUnitsAndRestrictedStockAwardsMember_zCVXf2aQY3Dl" title="Anti-dilutive shares">2,020,396</td><td style="text-align: left"> </td></tr> </table>

144444

221000

1555207

4628586

652174

956527

1624392

2020396

NOTE 12 –EMPLOYEE BENEFIT PLAN We offer the VRME Retirement Savings Plan (the “Plan”) to our employees located in the United States of America. Eligible employees can elect to participate in the Plan, as soon as administratively feasible after enrollment. The Plan permits pre-tax contributions to the Plan by participants pursuant to Section 401(k) of the Internal Revenue Code (IRC). The Company makes the matching contributions at our discretion. In the years ended December 31, 2025, and December 31, 2024, the Company contributed a value of approximately $148 thousand and $172 thousand respectively and is recognized as compensation expense in the Consolidated Statements of Operations for matching contributions to the Plan.

148000

172000

NOTE 13 –LEASES The Company accounts for its leases under ASC Topic 842, Leases. The Company determines at its inception whether an arrangement that provides us control over the use of an asset is a lease. We recognize at lease commencement a right-of-use (ROU) asset and lease liability based on the present value of the future lease payments over the lease term. We have elected not to recognize a ROU asset and lease liability for leases with terms of 12 months or less. Our current long-term leases include an option to extend the term of the lease prior to the end of the initial term. It is not reasonably certain that we will exercise the option and have not included the impact of the option in the lease term for purposes of determining total future lease payments. As our lease agreement does not explicitly state the discount rate implicit in the lease, we use our promissory note borrowing rate to calculate the present value of future payments. In addition to the base rent, real estate leases typically contain provisions for common-area maintenance and other similar services, which are considered non-lease components for accounting purposes. For our real estate leases, we apply a practical expedient to include these non-lease components in calculating the ROU asset and lease liability. For all other types of leases, non-lease components are excluded from our ROU assets and lease liabilities and expensed as incurred. During 2025, we maintained operating leases for office facilities. We do not have any finance leases. In January 2026, we entered into a lease amendment to terminate a facility lease effective February 15, 2026 and adjusted our right-of-use assets and liabilities. Lease expense is included in Management and technology Expenses on the accompanying Consolidated Statements of Operations. The components of lease expense were as follows (in thousands): <table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--LeaseCostTableTextBlock_pn3n3_zNPL8tmK4ZB7" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - LEASES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Schedule of components of lease expense</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_493_20250101__20251231_z2tyFtncGAI" style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_496_20240101__20241231_zHdg9oaV7R0f" style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseCost_i_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Operating lease cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">65</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">127</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ShortTermLeaseCost_i_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Short-term lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LeaseCost_i_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease costs</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">79</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">145</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Supplemental information related to leases was as follows (dollars in thousands): <table cellpadding="0" cellspacing="0" id="xdx_89A_ecustom--ScheduleOfSupplementalInformationRelatedToLeasesTableTextBlock_pn3n3_zwEByznry6Ic" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - LEASES (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of supplemental information related to leases</td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20251231_zCJLshuJ6Rx5" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49F_20241231_zrea6xak9QO4" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Operating Lease right-of-use asset</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">236</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current portion of operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">108</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Non-current portion of operating lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">139</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--TotalOperatingLeaseLiabilities_iI_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">247</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--CashPaidForAmountsIncludedInMeasurementOfOperatingLeaseLiabilities_iI_pn3n3_zebdhcI0FK3a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Cash paid for amounts included in the measurement of operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">65</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">126</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--RightofuseAssetsObtainedInExchangeForOperatingLeaseLiabilities_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Right-of-use assets obtained in exchange for operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average remaining lease term for operating leases (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.3</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_z12dSeFDkHlb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average discount rate for operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.0</td><td style="text-align: left">%</td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--LeaseCostTableTextBlock_pn3n3_zNPL8tmK4ZB7" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - LEASES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Schedule of components of lease expense</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_493_20250101__20251231_z2tyFtncGAI" style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_496_20240101__20241231_zHdg9oaV7R0f" style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Years ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseCost_i_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Operating lease cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">65</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">127</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ShortTermLeaseCost_i_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Short-term lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LeaseCost_i_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease costs</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">79</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">145</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

65000

127000

14000

18000

79000

145000

<table cellpadding="0" cellspacing="0" id="xdx_89A_ecustom--ScheduleOfSupplementalInformationRelatedToLeasesTableTextBlock_pn3n3_zwEByznry6Ic" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - LEASES (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of supplemental information related to leases</td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20251231_zCJLshuJ6Rx5" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49F_20241231_zrea6xak9QO4" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Operating Lease right-of-use asset</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">236</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current portion of operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">108</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Non-current portion of operating lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">139</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--TotalOperatingLeaseLiabilities_iI_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">247</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--CashPaidForAmountsIncludedInMeasurementOfOperatingLeaseLiabilities_iI_pn3n3_zebdhcI0FK3a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Cash paid for amounts included in the measurement of operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">65</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">126</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--RightofuseAssetsObtainedInExchangeForOperatingLeaseLiabilities_iI_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Right-of-use assets obtained in exchange for operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average remaining lease term for operating leases (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.3</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_z12dSeFDkHlb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average discount rate for operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.0</td><td style="text-align: left">%</td></tr> </table>

236000

108000

139000

247000 65000 126000

P2Y3M18D

0.060

NOTE 14 – CONCENTRATIONS During the year ended December 31, 2025, one customer represented <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_z46y0fzQpPi4" title="Concentration risk, percentage">13% of revenues and one customer represented <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zLyKvul6BSh8" title="Concentration risk, percentage">16% of revenues for the year ended December 31, 2024. As of December 31, 2025, two customers made up <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomerMember_z9fPbkRkcnL9" title="Concentration risk, percentage">50% of accounts receivable. As of December 31, 2024, two customers accounted for <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomerMember_zhWn3k6IiB47" title="Concentration risk, percentage">36% of total accounts receivable. During the year ended December 31, 2025, and December 31, 2024, one vendor accounted for <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--TransportationCostMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneVendorMember_zcLYc2V9EZj5" title="Concentration risk, percentage">89% and <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--TransportationCostMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneVendorMember_zFUVnEDxMo5j" title="Concentration risk, percentage">99% of transportation costs, in our Precision Logistics segment, respectively.

0.13

0.16

0.50

0.36

0.89

0.99

NOTE 15 – SEGMENT REPORTING As of December 31, 2025, we operated through two reportable business segments: (i) Precision Logistics and (ii) Authentication. The Chief Executive Officer is the chief operating decision maker (“CODM”). These segments reflect the way the CODM evaluates the Company’s business performance and allocates resources. The CODM assesses performance by using revenue, gross margin, operating expenses, and net earnings. These metrics are analyzed by reviewing budget and forecast versus actual and prior year versus current year reporting. The various income performance measures are reviewed to ensure proper pricing strategies, effective cost controls, and cash management across the organization. Reported revenue includes only the revenue generated by sales to external customers. Precision Logistics: This segment offers a value-added service provider for time and temperature sensitive parcel management. Through logistics management from a sophisticated IT platform with proprietary databases, package and flight-tracking software, weather, traffic, as well as dynamic dashboards with real-time visibility into shipment transit and last-mile events that are managed by a service center we provide our clients an end-to-end vertical approach for their most critical service delivery needs. Using our proprietary IT platform, we provide real-time information and analysis to mitigate supply chain flow interruption, delivering last-mile resolution for key markets, including the perishable healthcare and food industries. Authentication: This segment specializes in anti-counterfeit and brand protection. We do not allocate the following items to the segments: general & administrative expenses and other income (expense). The following table sets forth the revenue and operating results attributable to each reportable segment and includes a reconciliation of segment revenue to consolidated revenue and operating results to consolidated loss before income tax expense (in thousands): <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_pn3n3_zQpT9dd832z1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SEGMENT REPORTING (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of segment reporting information</td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember_zTqGXHfXw4Qc" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember_z9GLjtmxBeHf" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--ConsolidatedMember_zIvS0wXZ9koh" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_491_20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember_zeDYIqi8y914" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember_z8gRYK6bXtH" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--ConsolidatedMember_z3t5D3qdYzvd" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="10" style="white-space: nowrap; text-align: center">Year Ended</td><td> </td><td> </td> <td colspan="10" style="white-space: nowrap; text-align: center">Year Ended</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">December 31,</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: center"> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Precision Logistics</td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Authentication</td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Consolidated</td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Precision Logistics</td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Authentication</td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Consolidated</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_pn3n3_znan1ZNtdrLh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; text-align: left">NET REVENUE</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">16,242</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">156</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">16,398</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">23,766</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">441</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">24,207</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CostOfRevenue_pn3n3_zVOXN4VbVTu3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>COST OF REVENUE</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,022</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,077</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,498</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,545</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GrossProfit_pn3n3_zcznTHVpF2m4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">GROSS PROFIT</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,220</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">101</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,321</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,268</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">394</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,662</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">OPERATING EXPENSES</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ManagementFeeExpense_pn3n3_zbSLHzUzVWJd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Management and technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,937</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,989</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,883</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">993</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,876</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ResearchAndDevelopmentExpense_pn3n3_zVq7gQHQF4ab" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--SellingAndMarketingExpense_pn3n3_zazcokAgTmx" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Sales and marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">879</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">887</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">944</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">459</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,403</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--SegmentReportingOtherItemAmount_pn3n3_z0R0gDC6qS13" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Other Segment Items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,329</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(100</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,229</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,359</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">177</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,536</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--GoodwillAndIntangibleAssetImpairment_pn3n3_zUnfnHFFgv1f" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Goodwill and Intangible asset impairment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,850</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,850</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,315</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingExpenses_pn3n3_zM4GlfR9Zn92" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left; padding-bottom: 1pt">Total Segment expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,995</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(20</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,975</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,235</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,965</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,200</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--SegmentIncome_pn3n3_zpXcewsxZra9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Segment (Expense) Income</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,775</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">121</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,654</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,033</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,571</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(538</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_zVQxBz62yzP3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">General and Administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,416</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,852</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--NonoperatingIncomeExpense_pn3n3_zRpTA1Bxha44" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Other Income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">165</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">566</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--NetIncomeLoss_pn3n3_zpO3zVBZIUQ2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">NET LOSS</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,905</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3,824</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Additional information relating to our business segments is as follows (in thousands): Identifiable assets: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Years Ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Precision Logistics</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">10,109</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">15,795</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Authentication</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,909</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">272</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total Assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">13,018</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">16,067</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_pn3n3_zQpT9dd832z1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SEGMENT REPORTING (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of segment reporting information</td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember_zTqGXHfXw4Qc" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember_z9GLjtmxBeHf" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--ConsolidatedMember_zIvS0wXZ9koh" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_491_20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--PrecisionLogisticsMember_zeDYIqi8y914" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--AuthenticationMember_z8gRYK6bXtH" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20240101__20241231__srt--ConsolidatedEntitiesAxis__custom--ConsolidatedMember_z3t5D3qdYzvd" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="10" style="white-space: nowrap; text-align: center">Year Ended</td><td> </td><td> </td> <td colspan="10" style="white-space: nowrap; text-align: center">Year Ended</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">December 31,</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: center"> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Precision Logistics</td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Authentication</td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Consolidated</td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Precision Logistics</td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Authentication</td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center">Consolidated</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--Revenues_pn3n3_znan1ZNtdrLh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; text-align: left">NET REVENUE</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">16,242</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">156</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">16,398</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">23,766</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">441</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">24,207</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CostOfRevenue_pn3n3_zVOXN4VbVTu3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>COST OF REVENUE</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,022</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,077</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,498</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,545</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GrossProfit_pn3n3_zcznTHVpF2m4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">GROSS PROFIT</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,220</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">101</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,321</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,268</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">394</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,662</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">OPERATING EXPENSES</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ManagementFeeExpense_pn3n3_zbSLHzUzVWJd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Management and technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,937</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,989</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,883</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">993</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,876</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ResearchAndDevelopmentExpense_pn3n3_zVq7gQHQF4ab" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--SellingAndMarketingExpense_pn3n3_zazcokAgTmx" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Sales and marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">879</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">887</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">944</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">459</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,403</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--SegmentReportingOtherItemAmount_pn3n3_z0R0gDC6qS13" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Other Segment Items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,329</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(100</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,229</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,359</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">177</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,536</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--GoodwillAndIntangibleAssetImpairment_pn3n3_zUnfnHFFgv1f" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Goodwill and Intangible asset impairment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,850</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,850</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,315</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingExpenses_pn3n3_zM4GlfR9Zn92" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left; padding-bottom: 1pt">Total Segment expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,995</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(20</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,975</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,235</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,965</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,200</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--SegmentIncome_pn3n3_zpXcewsxZra9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Segment (Expense) Income</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,775</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">121</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,654</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,033</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,571</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(538</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_zVQxBz62yzP3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">General and Administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,416</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,852</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--NonoperatingIncomeExpense_pn3n3_zRpTA1Bxha44" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">Other Income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">165</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">566</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--NetIncomeLoss_pn3n3_zpO3zVBZIUQ2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">NET LOSS</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,905</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3,824</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Additional information relating to our business segments is as follows (in thousands): Identifiable assets: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="white-space: nowrap; font-weight: bold; text-align: center">Years Ended December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Precision Logistics</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">10,109</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">15,795</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Authentication</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,909</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">272</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total Assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">13,018</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">16,067</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

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NOTE 16 – SUBSEQUENT EVENTS On March 26, 2026, we received a waiver as of December 31, 2025, for certain events of default under the PNC Facility. Effective February 15, 2026, the lease held by our subsidiary PeriShip Global in Connecticut used in connection with our Precision Logistics segment was terminated pursuant to a lease termination agreement entered into in January 2026. See Item 2 “Properties” in this Form 10-K of VerifyMe, Inc. for the year ended December 31, 2025 (the “2025 Form 10-K”). On February 11, 2026, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with VRME Subsidiary Corp., a Nevada corporation, and our wholly owned subsidiary (the “Merger Sub”) and Open World Ltd. (“OpenWorld”) pursuant to letter agreement previously entered into on January 2, 2026. Upon the terms and subject to the satisfaction of the conditions described in the Merger Agreement, Merger Sub will merge with and into OpenWorld, Merger Sub will cease to exist and OpenWorld will become our wholly-owned subsidiary (the “Merger”). Also on February 11, 2026, and in connection with the Merger Agreement, we entered into stockholder support agreements whereby certain stockholder of the Company representing approximately 14% or more of the voting power in the aggregate of our common stock, including our directors and officers have agreed to vote their shares, and any shares obtained from the date of the agreement, in favor of the issuance of the Company’s common stock in connection with the Merger at a stockholder’s meeting. Also on February 11, 2026, and in connection with the Merger Agreement, we entered into an Amended and Restated Employment Agreement with Adam Stedham and an Employment Agreement with Jennifer Cola, each agreement effective as of the Effective Time of the Merger. Also on February 11, 2026, and in connection with the Merger Agreement, our Board of Directors approved a severance period for Ms. Cola effective immediately and which will expire upon the Effective Time of the Merger (the “Severance Period”), whereby Ms. Cola will receive a continuation of her base salary and benefits for a period of six months if she is terminated without cause during the Severance Period. Also on February 11, 2026, and in connection with the Merger Agreement, we sent notice to Roth of our election to terminate the ATM Program, which by the terms of the At-The-Market Sales Agreement became effective on February 16, 2026. See Item 1 “Business - Recent Developments” in the 2025 Form 10-K for additional information on the Merger Agreement, proposed Merger, consideration to be issued in connection with the Merger, the stockholder support agreements, the employment agreements with Mr. Stedham and Ms. Cola, the Severance Period granted to Ms. Cola, the termination of the ATM Program, and matters ancillary thereto. On January 2, 2026, the Company issued 47,464 shares of common stock, of which 19,271 were issued from treasury, upon vesting of <span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20251230__20260102__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsMember_z6W7v0f9qQ38" title="Number of shares vested">70,773 restricted stock units, net of <span id="xdx_90B_eus-gaap--SharesPaidForTaxWithholdingForShareBasedCompensation_pid_c20251230__20260102__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zWy2nvGWfVTk" title="Shares of common stock withheld for taxes">23,309 shares withheld for taxes related to stock grants on January 1, 2025.

Company representing approximately 14% or more of the voting power in the aggregate of our common stock, including our directors and officers have agreed to vote their shares, and any shares obtained from the date of the agreement, in favor of the issuance of the Company’s common stock in connection with the Merger at a stockholder’s meeting.

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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">1.</td><td style="text-align: justify">NATURE OF OPERATIONS </td></tr></table> Open World Ltd. was incorporated under the laws of the Cayman Islands. Open World Ltd. and its subsidiaries (“OpenWorld”, the “Company”, or the “Group”) operate at the intersection of institutional capital markets, enterprise blockchain infrastructure, and real-world asset tokenization. On October 9, 2025, the Company completed a corporate reorganization (the “Reorganization”) pursuant to which Open World Ltd. became the parent company of Open World Inc., Webslinger Advisors SEZC Inc., and Open World Wyoming Inc. The Reorganization was a transaction among entities under common control and was accounted for in accordance with ASC Topic 805, Business Combinations. In accordance with ASC 805-50, these comparative consolidated financial statements have been prepared on a retrospective basis as if the Reorganization had occurred on October 4, 2023.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">2.</td><td style="text-align: justify">BASIS OF PRESENTATION </td></tr></table> [a] Accounting standards The consolidated financial statements of the Group have been prepared using the accrual basis of accounting and have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and are expressed in U.S. dollars. These consolidated financial statements include the accounts of the Company and its wholly owned and controlled subsidiaries. All significant intercompany accounts and transactions have been eliminated. The consolidated financial statements have been prepared for audit in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are intended to be included in a future filing with the Securities and Exchange Commission (“SEC”). The Company will evaluate and update the presentation and disclosures as necessary once the specific SEC form and related requirements are determined. [b] Critical accounting estimates and judgments Preparation of the consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions in the consolidated financial statements and notes thereto. Significant estimates, assumptions and judgements include judgment in determining performance obligations; fair value measurement of crypto assets and receivables denominated in crypto assets; the assessment of collectability of accounts receivable; the valuation of privately-held strategic investments, including impairments; the identification and valuation of assets acquired and liabilities assumed in business combinations; loss contingency identification and valuation, including assessing the likelihood of adverse outcomes from positions, claims, and disputes, recoveries of losses recorded, and associated timing. The Group is also exposed to risks inherent in crypto assets, including price volatility, liquidity, and counterparty risks. Actual results and outcomes may differ from management’s estimates and assumptions due to risks and uncertainties. To the extent that there are material differences between these estimates and actual results, the consolidated financial statements will be affected. The Group bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the result of which forms the basis for making judgments about the carrying values of assets and liabilities.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">3.</td><td style="text-align: justify">SIGNIFICANT ACCOUNTING POLICIES </td></tr></table> The accounting policies set out below have been applied consistently to all periods presented in these consolidated financial statements by the Group. [a] Principles of consolidation These consolidated financial statements include the accounts of the Company and its wholly owned and controlled subsidiaries. Control exists when the Company has the power, directly or indirectly, to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The financial statements of the subsidiaries are included in these consolidated financial statements from the date that control commences until the date that control ceases. All inter-company transactions and balances have been eliminated upon consolidation. [b] Revenue Recognition The Group determines revenue recognition from contracts with customers through the following steps: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">§</td><td style="text-align: justify">identification of the contract, or contracts, with the customer;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">§</td><td style="text-align: justify">identification of the performance obligations in the contract;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">§</td><td style="text-align: justify">determination of the transaction price;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">§</td><td style="text-align: justify">allocation of the transaction price to the performance obligations in the contract; and</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">§</td><td style="text-align: justify">recognition of the revenue when, or as, the Group satisfies a performance obligation.</td></tr></table> Revenue is recognized when performance obligations are satisfied, in an amount that reflects the consideration the Group expects to be entitled to in exchange for its activities. Advisory and Onboarding Revenue is recognized ratably over time as performance obligations are satisfied. Compensation is typically a fixed monthly fee, payable in US dollars or stablecoins. Digital Assets and Capital Markets Infrastructure Revenue is recognized at the vesting date of tokens, which aligns with the satisfaction of performance obligations under the underlying arrangements. Vesting commences no earlier than the Token Generation Event, when an observable market price exists and rights to tokens are legally enforceable. The Group measures such revenue at the fair value of tokens on the vesting date, using end-of-day (23:59:59 UTC) pricing. [c] Cost of sales Cost of sales primarily consists of direct costs incurred to deliver the Group’s advisory and onboarding, digital assets, and capital markets capabilities. These costs are recognized in the period in which the related performance obligations are satisfied and revenue is recognized. Cost of sales primarily includes: Professional and Consulting Fees: Fees paid to third-party providers, contractors, external specialists, and other consultants who support the Group’s revenue-generating activities. Technology and Infrastructure Costs: Direct expenses related to hosting, cloud computing, blockchain network usage, cybersecurity support, and other infrastructure required to fulfill performance obligations under customer contracts. Other Direct Costs: Out-of-pocket expenses incurred in fulfilling customer contracts, including reimbursed client costs, transaction-specific expenditures, data services, travel, and similar costs directly related to advisory and onboarding, digital assets or capital markets activities. Costs not directly attributable to revenue-generating activities are recorded within Operating Expenses, including general and administrative costs, consulting and management fees, bad debt provisions, insurance, corporate legal and professional fees, travel not tied to customer contracts, and operating lease expenses. [d] Consulting and management fees Consulting and management fees consist primarily of compensation-related costs for personnel who support the Company’s operations, including (i) wages and salaries for employees and (ii) fees and costs paid to independent contractors and consultants (collectively, “team wages”). These amounts may also include employer payroll taxes and other personnel-related costs, as applicable. Consulting and management fees are recognized as expense as the related activities are performed (generally on a straight-line basis over the service period when billed at fixed rates) and are classified within operating expenses in the accompanying consolidated financial statements. Amounts owed but not yet paid at the reporting date are included in accrued expenses and other current liabilities, and prepayments for services not yet received are recorded in prepaid expenses and expensed as incurred. [e] Accounts Receivable Accounts receivable consists of receivables from revenues from contracts with customers and other receivables, net of provision for bad debts and bad debt written off. Receivables denominated in crypto assets are contractual rights to receive cash or crypto assets either on demand or on fixed or determinable dates and are recognized as an asset in the Consolidated Balance Sheet. Receivables are initially recorded at the transaction price, representing consideration to which the Group expects to be entitled to in exchange for satisfying its performance obligations. For performance obligations satisfied over time, receivables are recognized as revenue is earned, typically monthly or quarterly based on performance obligations. For performance obligations satisfied at a point in time, receivables are recognized when the performance obligation is satisfied. Certain crypto assets are subject to contractual sale restrictions pursuant to lock-up schedules. Crypto assets subject to lock-up schedules that have not yet been received by the Company are recognized as receivables denominated in crypto assets. As of December 31, 2025, the Company held $1,211,696 (2024: $13,463,445) of receivables subject to such restrictions. The fair value of receivables subject to lock-up schedules includes a discount for lack of marketability. Restriction periods for these receivables range from less than one week to approximately two years. Receivables denominated in crypto assets represent rights to receive a fixed amount of crypto assets and meet the definition of hybrid financial instruments containing an embedded derivative feature under ASC Topic 815, Derivatives and Hedging. The Group accounts for these hybrid instruments in their entirety at fair value, with changes in fair value recognized in the consolidated Statement of Operations within “Net change in fair value of accounts receivable.” This approach reflects both the host receivable component and the embedded derivative feature as a single financial instrument measured at fair value each reporting period. The Group evaluates collectability based on expected credit losses in accordance with ASC Topic 326, Financial Instruments — Credit Losses. An allowance for doubtful accounts is recognized based on historical loss experience, the aging of receivable balances, and management’s assessment of current and expected future economic conditions. [f] Crypto Assets The Group accounts for cryptocurrencies, tokens, and stablecoins (collectively, “crypto assets”) in accordance with ASC Topic 350-60, Accounting for and Disclosure of Crypto Assets (ASU 2023-08), which the Group adopted effective January 1, 2024. This standard supersedes prior indefinite-lived intangible asset treatment and requires qualifying crypto assets to be classified as intangible assets and measured at fair value with changes in fair value recognized in net income. The Group receives crypto assets as a form of consideration under certain of its commercial arrangements, which are recorded as Crypto assets in the Consolidated Balance Sheet when received. Under this guidance, crypto assets are measured at fair value, with changes recognized in net income. Crypto assets are initially recognized at fair value on the date of acquisition or receipt, based on observable quoted market prices. An observable market for crypto assets is determined based on whether quoted prices in active markets are readily and regularly available and whether those prices reflect actual, orderly transactions. For crypto assets with high trading volume across reputable exchanges, the Group concludes there is an observable market and measures fair value based on Level 1 inputs. They are classified as current or non-current assets depending on management’s intent regarding use, including treasury holdings and operational purposes. As the Group’s crypto assets are held for and used in the ordinary course of business, they are classified as current assets. Crypto assets are remeasured at fair value at each reporting date. All fair value gains and losses are recognized in the consolidated Statement of Operations within “Other Income (Expense) - Net change in fair value of crypto assets.” Gains and losses on crypto asset sales are recognized on a first-in-first-out (“FIFO”) basis. Cash flows from crypto assets held for operations are recorded as Net changes in operating assets and liabilities in the consolidated statement of cash flows. The Group holds crypto assets in self-custodied wallets and custodial accounts at third-party institutions which require dual authorization for transactions. Disposals occur through approved OTC counterparties, including Wintermute and GSR, or on exchanges. [g] Leases The Company accounts for leases in accordance with ASC Topic 842, Leases. The Company determines if an arrangement is a lease at inception. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate, based on the information available at the commencement date, to determine the present value of future lease payments. Right-of-use assets include any prepaid lease payments and exclude any lease incentives and initial direct costs incurred. Operating lease expenses are recognized on a straight-line basis over the term of the lease, consisting of interest accrued on the lease liability and depreciation of the right-of-use asset. The lease terms may include options to extend or terminate the lease if it is reasonably certain the Group will exercise that option. [h] Investments The Group’s strategic investments primarily include equity investments in public and privately held companies where the Group (1) holds less than 20% ownership in the entity, and (2) does not exercise significant influence. These investments are recorded at cost and measured at fair value. For privately held companies without readily determinable fair values adjusted for: (i) observable transactions for same or similar investments of the same issuer (referred to as the measurement alternative) or (ii) impairment, which are recorded in Other (income) expense, net in the Consolidated Statement of Operations. [i] Cash and cash equivalents Cash and cash equivalents include cash held at financial institutions, cash on hand that is not restricted as to withdrawal or use with an initial maturity of three months or less but exclude stablecoins (e.g., USDT, USDC), which are classified as crypto assets and cash held in accounts at venues. Venues include other crypto asset trading platforms and payment processors that hold money and crypto assets. Funds held at financial institutions Cash and cash equivalents are primarily placed with financial institutions which are of high credit quality, primarily in highly liquid, highly rated instruments which are uninsured. The Group may also have corporate deposit balances with financial institutions which exceed the Federal Deposit Insurance Corporation insurance limit of $250,000. The Group has not experienced losses on these accounts and does not believe it is exposed to any significant credit risk with respect to these accounts. Funds held at trading venues, payment processors, and clearing brokers The Group holds cash at trading venues including both self-custodied wallets and custodial accounts at third-party institutions and performs a regular assessment of these venues as part of its risk management process. [j] Income taxes The Company and its subsidiaries are incorporated in the Cayman Islands, which does not impose corporate income or capital gains taxes. Accordingly, no provision for current or deferred income taxes has been recognized. The Group applies the provisions of ASC Topic 740, Income Taxes, related to uncertain tax positions. As of December 31, 2025, and 2024, the Group had no unrecognized tax benefits, and no interest or penalties related to uncertain tax positions have been recognized. [k] Basic and diluted Earnings or Loss per Share The Group has adopted ASC Topic 260, Earnings per Share which requires presentation of basic earnings per share. Basic earnings or loss per share is calculated by dividing net income or loss attributable to ordinary shareholders by the weighted-average number of ordinary shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted. In calculating diluted EPS, the Group adjusts both net income and the weighted-average number of shares outstanding to give effect to all potentially dilutive instruments, including simple agreements for future equity and stock-based awards, using the treasury stock method or if-converted method, as appropriate. The effects of securities that are anti-dilutive are excluded from the calculation of diluted EPS. Diluted loss per share does not adjust the loss attributable to common shareholders or the weighted average number of common shares outstanding when the effect is anti-dilutive. [l] Share capital The Group records proceeds from share issuances net of issuance costs. Shares issued for consideration other than cash are valued at the quoted price on the date the shares are issued. [m] Equity based compensation Stock options The Group accounts for the stock options issued to consultants and employees of the Company at the fair value of the options granted in accordance with ASC Topic 718, Stock Compensation. The fair value of the options is determined at the grant date using Black-Scholes option pricing model which requires assumptions including ordinary share price, expected price volatility, expected term, risk-free interest rate, and dividend yield. The equity compensation expense is charged to operations and is amortized over the vesting period on a straight-line basis, with the offset recorded to additional paid-in capital. At the end of each reporting period, the Group estimates the number of equity instruments expected to vest, and the revisions, if any, are recognized to profit or loss such that the cumulative expense reflects the revised estimate. Restricted Shares The Group accounts for restricted shares granted to directors, officers, consultants and employees of the Company at fair value in according with ASC Topic 718, Stock Compensation. Restricted shares are classified as equity and measured at fair value determined at the grant date based on the fair value of the Company’s ordinary shares. Certain shares are issued at grant but subject to service-based vesting and repurchase rights at the original issuance price upon termination. The excess of grant-date fair value over the purchase price, if any, is recognized as stock-based compensation expense on a straight-line basis over the requisite service period. Unvested restricted shares are recorded as issued shares with a corresponding deferred stock-based compensation balance within shareholders’ equity, which is amortized over the vesting period. Stock-based compensation expense is included in operating expenses in the Statement of Operations. [n] Fair value measurements The Group analyzes all financial instruments with features of both liabilities and equity under ASC Topic 490, Distinguishing Liabilities from Equity, and ASC Topic 815, Derivatives and Hedging. The Group’s financial instruments consist of cash, accounts receivable denominated in crypto assets, shares and warrants receivable, other receivables, investments, trade and other payables, and lease liabilities. The carrying amounts of these instruments approximate their fair values due to their short maturities. The fair value of long-term lease liabilities also approximates their carrying amount as there have been minimal changes in interest rates and in the Group’s own credit risk since inception. The Group measures certain assets and liabilities at fair value in accordance with ASC Topic 820, Fair Value Measurement. ASC 820 establishes a three-level hierarchy that prioritizes the inputs to valuation techniques used to measure fair value: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">•</td><td style="text-align: justify">Level 1 - Level 1 inputs are quoted prices in active markets for identical assets or liabilities that the reporting entity can access at the measurement date.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">•</td><td style="text-align: justify">Level 2 - Level 2 inputs are observable inputs other than quoted prices included within Level 1, such as quoted prices for similar assets or liabilities in active markets, or other inputs that are observable or can be corroborated by observable market data.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">•</td><td style="text-align: justify">Level 3 - Level 3 inputs are unobservable inputs for the asset or liability, reflecting the Group’s own assumptions about the assumptions that market participants would use in pricing the asset or liability.</td></tr></table> The Group’s crypto assets, shares receivable, and current investments are classified within Level 1, and accounts receivable including embedded derivative features and warrants receivable, are classified within Level 2, as their valuation is based on quoted market prices for identical crypto assets in active markets. The Group presents fair value measurements for its crypto assets, financial assets and liabilities in the notes to the consolidated financial statements and discloses any transfers between levels of the hierarchy, although no such transfers occurred during the periods presented. [o] Related party transactions All transactions with related parties are in the normal course of operations and are measured at the exchange amount. [p] Derivatives The Group accounts for derivatives in accordance with ASC Topic 815, Derivatives and Hedging. Certain accounts receivable denominated in crypto assets contain embedded derivative features arising from rights to receive fixed quantities of crypto assets. These instruments are accounted for in their entirety at fair value, rather than bifurcating the embedded derivative. Changes in fair value are recognized in the consolidated Statement of Operations within “Net change in fair value of accounts receivable.” The Group’s accounts receivable with embedded derivative features are classified within Level 2 of the fair-value hierarchy, as their valuation is based on quoted market prices for identical crypto assets in active markets. [q] Subsequent Events The Group evaluates subsequent events through the date the consolidated financial statements are available to be issued, and recognizes in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing the consolidated financial statements. Subsequent events that provide evidence about conditions that arose after the balance sheet date are disclosed in the notes to the consolidated financial statements, but are not recognized in the financial statements. [r] Commitments and Contingencies The Group accounts for commitments and contingencies in accordance with ASC Topic 450, Contingencies. Loss contingencies, including legal claims, are accrued when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Commitments, such as agreements and non-cancellable leases, are disclosed when material. [s] Segment Reporting The Group determines its reportable segments in accordance with ASC Topic 280, Segment Reporting. Management concluded the Group has a single operating and reportable segment under ASC 280 because the Chief Executive Officer, as the Chief Operating Decision Maker (“CODM”), evaluates performance and allocates resources based on consolidated financial information and does not regularly review discrete financial information by service line, geography, legal entity, or other component. While the Group may engage in multiple activities, they are managed as an integrated business with centralized decision-making, and there are no components for which operating results are regularly reviewed by the CODM with discrete financial information for purposes of allocating resources and assessing performance in a manner that would constitute separate operating segments. Accordingly, the Group operates as one operating segment and, therefore, one reportable segment. [t] Employee benefits The Cayman Islands requires employers to contribute to a pension plan on behalf of employees, up to a statutory maximum amount per annum. As of December 31, 2025, the Group has not yet established its own pension plan but is subject to this statutory obligation. Accordingly, the Group has recognized an accrued liability for amounts due under this requirement. At December 31, 2025, the Group accrued $105,011 (2024: $49,168) within accrued expenses and other current liabilities in the consolidated balance sheet. For the year ended December 31, 2025, the Group recorded pension expense of $55,843 (2024: $39,901), which represents the contribution obligation attributable to employee service during the year. The Group will fund the obligation in accordance with Cayman Islands’ statutory requirements in the subsequent fiscal year. No additional defined benefits or defined contribution plans have been established by the Group as of the reporting date. [u] Warrants Issued by the Company The Company accounts for warrants issued for its common stock in accordance with ASC Topic 815-40, Derivatives and Hedging — Contracts in Entity’s Own Equity. Warrants are evaluated at issuance to determine whether they should be classified as equity or as a liability. Warrants are classified as equity instruments if they require settlement in a fixed number of shares of the Company’s common stock, are indexed to the Company’s own stock, and do not contain provisions that could require cash settlement or otherwise preclude equity classification. If classified as equity, warrants are recorded at their relative fair value on the issuance date within additional paid-in capital and are not subsequently remeasured. Upon exercise, proceeds received are recorded as an increase to common stock and additional paid-in capital. Warrants that expire unexercised remain within additional paid-in capital.

[a] Principles of consolidation These consolidated financial statements include the accounts of the Company and its wholly owned and controlled subsidiaries. Control exists when the Company has the power, directly or indirectly, to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The financial statements of the subsidiaries are included in these consolidated financial statements from the date that control commences until the date that control ceases. All inter-company transactions and balances have been eliminated upon consolidation.

[b] Revenue Recognition The Group determines revenue recognition from contracts with customers through the following steps: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">§</td><td style="text-align: justify">identification of the contract, or contracts, with the customer;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">§</td><td style="text-align: justify">identification of the performance obligations in the contract;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">§</td><td style="text-align: justify">determination of the transaction price;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">§</td><td style="text-align: justify">allocation of the transaction price to the performance obligations in the contract; and</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">§</td><td style="text-align: justify">recognition of the revenue when, or as, the Group satisfies a performance obligation.</td></tr></table> Revenue is recognized when performance obligations are satisfied, in an amount that reflects the consideration the Group expects to be entitled to in exchange for its activities. Advisory and Onboarding Revenue is recognized ratably over time as performance obligations are satisfied. Compensation is typically a fixed monthly fee, payable in US dollars or stablecoins. Digital Assets and Capital Markets Infrastructure Revenue is recognized at the vesting date of tokens, which aligns with the satisfaction of performance obligations under the underlying arrangements. Vesting commences no earlier than the Token Generation Event, when an observable market price exists and rights to tokens are legally enforceable. The Group measures such revenue at the fair value of tokens on the vesting date, using end-of-day (23:59:59 UTC) pricing.

[c] Cost of sales Cost of sales primarily consists of direct costs incurred to deliver the Group’s advisory and onboarding, digital assets, and capital markets capabilities. These costs are recognized in the period in which the related performance obligations are satisfied and revenue is recognized. Cost of sales primarily includes: Professional and Consulting Fees: Fees paid to third-party providers, contractors, external specialists, and other consultants who support the Group’s revenue-generating activities. Technology and Infrastructure Costs: Direct expenses related to hosting, cloud computing, blockchain network usage, cybersecurity support, and other infrastructure required to fulfill performance obligations under customer contracts. Other Direct Costs: Out-of-pocket expenses incurred in fulfilling customer contracts, including reimbursed client costs, transaction-specific expenditures, data services, travel, and similar costs directly related to advisory and onboarding, digital assets or capital markets activities. Costs not directly attributable to revenue-generating activities are recorded within Operating Expenses, including general and administrative costs, consulting and management fees, bad debt provisions, insurance, corporate legal and professional fees, travel not tied to customer contracts, and operating lease expenses.

[d] Consulting and management fees Consulting and management fees consist primarily of compensation-related costs for personnel who support the Company’s operations, including (i) wages and salaries for employees and (ii) fees and costs paid to independent contractors and consultants (collectively, “team wages”). These amounts may also include employer payroll taxes and other personnel-related costs, as applicable. Consulting and management fees are recognized as expense as the related activities are performed (generally on a straight-line basis over the service period when billed at fixed rates) and are classified within operating expenses in the accompanying consolidated financial statements. Amounts owed but not yet paid at the reporting date are included in accrued expenses and other current liabilities, and prepayments for services not yet received are recorded in prepaid expenses and expensed as incurred.

[e] Accounts Receivable Accounts receivable consists of receivables from revenues from contracts with customers and other receivables, net of provision for bad debts and bad debt written off. Receivables denominated in crypto assets are contractual rights to receive cash or crypto assets either on demand or on fixed or determinable dates and are recognized as an asset in the Consolidated Balance Sheet. Receivables are initially recorded at the transaction price, representing consideration to which the Group expects to be entitled to in exchange for satisfying its performance obligations. For performance obligations satisfied over time, receivables are recognized as revenue is earned, typically monthly or quarterly based on performance obligations. For performance obligations satisfied at a point in time, receivables are recognized when the performance obligation is satisfied. Certain crypto assets are subject to contractual sale restrictions pursuant to lock-up schedules. Crypto assets subject to lock-up schedules that have not yet been received by the Company are recognized as receivables denominated in crypto assets. As of December 31, 2025, the Company held $1,211,696 (2024: $13,463,445) of receivables subject to such restrictions. The fair value of receivables subject to lock-up schedules includes a discount for lack of marketability. Restriction periods for these receivables range from less than one week to approximately two years. Receivables denominated in crypto assets represent rights to receive a fixed amount of crypto assets and meet the definition of hybrid financial instruments containing an embedded derivative feature under ASC Topic 815, Derivatives and Hedging. The Group accounts for these hybrid instruments in their entirety at fair value, with changes in fair value recognized in the consolidated Statement of Operations within “Net change in fair value of accounts receivable.” This approach reflects both the host receivable component and the embedded derivative feature as a single financial instrument measured at fair value each reporting period. The Group evaluates collectability based on expected credit losses in accordance with ASC Topic 326, Financial Instruments — Credit Losses. An allowance for doubtful accounts is recognized based on historical loss experience, the aging of receivable balances, and management’s assessment of current and expected future economic conditions.

1211696 13463445 [f] Crypto Assets The Group accounts for cryptocurrencies, tokens, and stablecoins (collectively, “crypto assets”) in accordance with ASC Topic 350-60, Accounting for and Disclosure of Crypto Assets (ASU 2023-08), which the Group adopted effective January 1, 2024. This standard supersedes prior indefinite-lived intangible asset treatment and requires qualifying crypto assets to be classified as intangible assets and measured at fair value with changes in fair value recognized in net income. The Group receives crypto assets as a form of consideration under certain of its commercial arrangements, which are recorded as Crypto assets in the Consolidated Balance Sheet when received. Under this guidance, crypto assets are measured at fair value, with changes recognized in net income. Crypto assets are initially recognized at fair value on the date of acquisition or receipt, based on observable quoted market prices. An observable market for crypto assets is determined based on whether quoted prices in active markets are readily and regularly available and whether those prices reflect actual, orderly transactions. For crypto assets with high trading volume across reputable exchanges, the Group concludes there is an observable market and measures fair value based on Level 1 inputs. They are classified as current or non-current assets depending on management’s intent regarding use, including treasury holdings and operational purposes. As the Group’s crypto assets are held for and used in the ordinary course of business, they are classified as current assets. Crypto assets are remeasured at fair value at each reporting date. All fair value gains and losses are recognized in the consolidated Statement of Operations within “Other Income (Expense) - Net change in fair value of crypto assets.” Gains and losses on crypto asset sales are recognized on a first-in-first-out (“FIFO”) basis. Cash flows from crypto assets held for operations are recorded as Net changes in operating assets and liabilities in the consolidated statement of cash flows. The Group holds crypto assets in self-custodied wallets and custodial accounts at third-party institutions which require dual authorization for transactions. Disposals occur through approved OTC counterparties, including Wintermute and GSR, or on exchanges.

[g] Leases The Company accounts for leases in accordance with ASC Topic 842, Leases. The Company determines if an arrangement is a lease at inception. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate, based on the information available at the commencement date, to determine the present value of future lease payments. Right-of-use assets include any prepaid lease payments and exclude any lease incentives and initial direct costs incurred. Operating lease expenses are recognized on a straight-line basis over the term of the lease, consisting of interest accrued on the lease liability and depreciation of the right-of-use asset. The lease terms may include options to extend or terminate the lease if it is reasonably certain the Group will exercise that option.

[h] Investments The Group’s strategic investments primarily include equity investments in public and privately held companies where the Group (1) holds less than 20% ownership in the entity, and (2) does not exercise significant influence. These investments are recorded at cost and measured at fair value. For privately held companies without readily determinable fair values adjusted for: (i) observable transactions for same or similar investments of the same issuer (referred to as the measurement alternative) or (ii) impairment, which are recorded in Other (income) expense, net in the Consolidated Statement of Operations.

[i] Cash and cash equivalents Cash and cash equivalents include cash held at financial institutions, cash on hand that is not restricted as to withdrawal or use with an initial maturity of three months or less but exclude stablecoins (e.g., USDT, USDC), which are classified as crypto assets and cash held in accounts at venues. Venues include other crypto asset trading platforms and payment processors that hold money and crypto assets. Funds held at financial institutions Cash and cash equivalents are primarily placed with financial institutions which are of high credit quality, primarily in highly liquid, highly rated instruments which are uninsured. The Group may also have corporate deposit balances with financial institutions which exceed the Federal Deposit Insurance Corporation insurance limit of $250,000. The Group has not experienced losses on these accounts and does not believe it is exposed to any significant credit risk with respect to these accounts. Funds held at trading venues, payment processors, and clearing brokers The Group holds cash at trading venues including both self-custodied wallets and custodial accounts at third-party institutions and performs a regular assessment of these venues as part of its risk management process.

250000

[j] Income taxes The Company and its subsidiaries are incorporated in the Cayman Islands, which does not impose corporate income or capital gains taxes. Accordingly, no provision for current or deferred income taxes has been recognized. The Group applies the provisions of ASC Topic 740, Income Taxes, related to uncertain tax positions. As of December 31, 2025, and 2024, the Group had no unrecognized tax benefits, and no interest or penalties related to uncertain tax positions have been recognized.

[k] Basic and diluted Earnings or Loss per Share The Group has adopted ASC Topic 260, Earnings per Share which requires presentation of basic earnings per share. Basic earnings or loss per share is calculated by dividing net income or loss attributable to ordinary shareholders by the weighted-average number of ordinary shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted. In calculating diluted EPS, the Group adjusts both net income and the weighted-average number of shares outstanding to give effect to all potentially dilutive instruments, including simple agreements for future equity and stock-based awards, using the treasury stock method or if-converted method, as appropriate. The effects of securities that are anti-dilutive are excluded from the calculation of diluted EPS. Diluted loss per share does not adjust the loss attributable to common shareholders or the weighted average number of common shares outstanding when the effect is anti-dilutive. [l] Share capital The Group records proceeds from share issuances net of issuance costs. Shares issued for consideration other than cash are valued at the quoted price on the date the shares are issued. [m] Equity based compensation Stock options The Group accounts for the stock options issued to consultants and employees of the Company at the fair value of the options granted in accordance with ASC Topic 718, Stock Compensation. The fair value of the options is determined at the grant date using Black-Scholes option pricing model which requires assumptions including ordinary share price, expected price volatility, expected term, risk-free interest rate, and dividend yield. The equity compensation expense is charged to operations and is amortized over the vesting period on a straight-line basis, with the offset recorded to additional paid-in capital. At the end of each reporting period, the Group estimates the number of equity instruments expected to vest, and the revisions, if any, are recognized to profit or loss such that the cumulative expense reflects the revised estimate. Restricted Shares The Group accounts for restricted shares granted to directors, officers, consultants and employees of the Company at fair value in according with ASC Topic 718, Stock Compensation. Restricted shares are classified as equity and measured at fair value determined at the grant date based on the fair value of the Company’s ordinary shares. Certain shares are issued at grant but subject to service-based vesting and repurchase rights at the original issuance price upon termination. The excess of grant-date fair value over the purchase price, if any, is recognized as stock-based compensation expense on a straight-line basis over the requisite service period. Unvested restricted shares are recorded as issued shares with a corresponding deferred stock-based compensation balance within shareholders’ equity, which is amortized over the vesting period. Stock-based compensation expense is included in operating expenses in the Statement of Operations.

[n] Fair value measurements The Group analyzes all financial instruments with features of both liabilities and equity under ASC Topic 490, Distinguishing Liabilities from Equity, and ASC Topic 815, Derivatives and Hedging. The Group’s financial instruments consist of cash, accounts receivable denominated in crypto assets, shares and warrants receivable, other receivables, investments, trade and other payables, and lease liabilities. The carrying amounts of these instruments approximate their fair values due to their short maturities. The fair value of long-term lease liabilities also approximates their carrying amount as there have been minimal changes in interest rates and in the Group’s own credit risk since inception. The Group measures certain assets and liabilities at fair value in accordance with ASC Topic 820, Fair Value Measurement. ASC 820 establishes a three-level hierarchy that prioritizes the inputs to valuation techniques used to measure fair value: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">•</td><td style="text-align: justify">Level 1 - Level 1 inputs are quoted prices in active markets for identical assets or liabilities that the reporting entity can access at the measurement date.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">•</td><td style="text-align: justify">Level 2 - Level 2 inputs are observable inputs other than quoted prices included within Level 1, such as quoted prices for similar assets or liabilities in active markets, or other inputs that are observable or can be corroborated by observable market data.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">•</td><td style="text-align: justify">Level 3 - Level 3 inputs are unobservable inputs for the asset or liability, reflecting the Group’s own assumptions about the assumptions that market participants would use in pricing the asset or liability.</td></tr></table> The Group’s crypto assets, shares receivable, and current investments are classified within Level 1, and accounts receivable including embedded derivative features and warrants receivable, are classified within Level 2, as their valuation is based on quoted market prices for identical crypto assets in active markets. The Group presents fair value measurements for its crypto assets, financial assets and liabilities in the notes to the consolidated financial statements and discloses any transfers between levels of the hierarchy, although no such transfers occurred during the periods presented.

[o] Related party transactions All transactions with related parties are in the normal course of operations and are measured at the exchange amount.

[p] Derivatives The Group accounts for derivatives in accordance with ASC Topic 815, Derivatives and Hedging. Certain accounts receivable denominated in crypto assets contain embedded derivative features arising from rights to receive fixed quantities of crypto assets. These instruments are accounted for in their entirety at fair value, rather than bifurcating the embedded derivative. Changes in fair value are recognized in the consolidated Statement of Operations within “Net change in fair value of accounts receivable.” The Group’s accounts receivable with embedded derivative features are classified within Level 2 of the fair-value hierarchy, as their valuation is based on quoted market prices for identical crypto assets in active markets.

[q] Subsequent Events The Group evaluates subsequent events through the date the consolidated financial statements are available to be issued, and recognizes in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing the consolidated financial statements. Subsequent events that provide evidence about conditions that arose after the balance sheet date are disclosed in the notes to the consolidated financial statements, but are not recognized in the financial statements.

[r] Commitments and Contingencies The Group accounts for commitments and contingencies in accordance with ASC Topic 450, Contingencies. Loss contingencies, including legal claims, are accrued when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Commitments, such as agreements and non-cancellable leases, are disclosed when material.

[s] Segment Reporting The Group determines its reportable segments in accordance with ASC Topic 280, Segment Reporting. Management concluded the Group has a single operating and reportable segment under ASC 280 because the Chief Executive Officer, as the Chief Operating Decision Maker (“CODM”), evaluates performance and allocates resources based on consolidated financial information and does not regularly review discrete financial information by service line, geography, legal entity, or other component. While the Group may engage in multiple activities, they are managed as an integrated business with centralized decision-making, and there are no components for which operating results are regularly reviewed by the CODM with discrete financial information for purposes of allocating resources and assessing performance in a manner that would constitute separate operating segments. Accordingly, the Group operates as one operating segment and, therefore, one reportable segment.

[t] Employee benefits The Cayman Islands requires employers to contribute to a pension plan on behalf of employees, up to a statutory maximum amount per annum. As of December 31, 2025, the Group has not yet established its own pension plan but is subject to this statutory obligation. Accordingly, the Group has recognized an accrued liability for amounts due under this requirement. At December 31, 2025, the Group accrued $105,011 (2024: $49,168) within accrued expenses and other current liabilities in the consolidated balance sheet. For the year ended December 31, 2025, the Group recorded pension expense of $55,843 (2024: $39,901), which represents the contribution obligation attributable to employee service during the year. The Group will fund the obligation in accordance with Cayman Islands’ statutory requirements in the subsequent fiscal year. No additional defined benefits or defined contribution plans have been established by the Group as of the reporting date.

105011

49168

55843

39901

[u] Warrants Issued by the Company The Company accounts for warrants issued for its common stock in accordance with ASC Topic 815-40, Derivatives and Hedging — Contracts in Entity’s Own Equity. Warrants are evaluated at issuance to determine whether they should be classified as equity or as a liability. Warrants are classified as equity instruments if they require settlement in a fixed number of shares of the Company’s common stock, are indexed to the Company’s own stock, and do not contain provisions that could require cash settlement or otherwise preclude equity classification. If classified as equity, warrants are recorded at their relative fair value on the issuance date within additional paid-in capital and are not subsequently remeasured. Upon exercise, proceeds received are recorded as an increase to common stock and additional paid-in capital. Warrants that expire unexercised remain within additional paid-in capital. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">4.</td><td>RECENT ACCOUNTING PRONOUNCEMENTS</td></tr></table> Recently adopted accounting pronouncements Crypto assets On December 13, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-08, Intangibles – Goodwill and Other (Topic 350): Accounting for and Disclosure of Crypto Assets. ASU 2023-08 requires qualifying crypto assets to be measured at fair value with changes recognized in net income and presented separately from other intangible assets in the balance sheet, along with expanded disclosures. The Group early adopted ASU 2023-08 effective January 1, 2024. The adoption did not have a material impact on the Group’s consolidated financial statements other than changes in presentation and disclosure. Segment reporting On November 27, 2023, the FASB issued ASU No. 2023-07, Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 amends ASC Topic 280, Segment Reporting, to expand segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the Group’s chief operating decision maker (“CODM”), the amount and description of other segment items, the title and position of the CODM, and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The amendments also extend disclosure requirements to entities with a single reportable segment. The Group adopted ASU 2023-07 effective December 31, 2024 on a retrospective basis. The Group operates as a single reportable segment. The Chief Executive Officer acting as CODM reviews financial information on a consolidated basis when evaluating performance and allocating resources. Substantially all of the Group’s operations and long-lived assets are located in the Cayman Islands. Accordingly, no further segment or geographic disclosures are presented. Accounting pronouncements pending adoption On November 4, 2024, the FASB issued ASU 2024-03, Expense Disaggregation Disclosures (Subtopic 220). This standard amends ASC Topic 220, Comprehensive Income, to require expanded disclosure of certain natural expense categories (such as employee compensation, depreciation, and amortization) within the notes to the consolidated financial statements. The amendments are effective for fiscal years beginning after December 15, 2026, with early adoption permitted. The Group is currently evaluating the impact of adopting ASU 2024-03 on its consolidated financial statements and related disclosures.

5. REVENUE The Group recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers. Revenue is primarily derived from platform-enabled solutions, including token launch support, digital assets and capital markets infrastructure, and foundation administration. Revenue is recognized as performance obligations are satisfied in an amount that reflects the consideration expected to be received. Revenue disaggregated by category for the years ended December 31, 2025, and 2024 is presented in the table below: <table cellpadding="0" cellspacing="0" id="xdx_885_eus-gaap--DisaggregationOfRevenueTableTextBlock_zwZugZ3Pm7Yg" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - REVENUE (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BC_z8CyGzk1UhH1" style="display: none; text-align: left; padding-bottom: 1pt">Schedule of disaggregated revenues</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left">Digital assets and capital markets infrastructure</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">32,187,179</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">34,732,400</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Advisory and onboarding</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">3,561,320</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">4,894,073</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Total revenue</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">35,748,499</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">39,626,473</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> For the year ended December 31, 2025, one customer accounted for approximately $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_904_eus-gaap--Revenues_pn3n3_dm_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zZXA2utMa222" title="Revenues">12.3 million (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zeEdISwwHbql" title="Concentration percentage">34%) of total revenue, a second customer accounted for approximately $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_903_eus-gaap--Revenues_pn3n3_dm_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SecondCustomerMember_zYeuIqbDsZ2c" title="Revenues">4.2 million (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SecondCustomerMember_pd" title="Concentration percentage">12%) of total revenue, a third customer accounted for approximately $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_903_eus-gaap--Revenues_pn3n3_dm_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThirdCustomerMember_zuj5vJka86zd" title="Revenues">4.1 million (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThirdCustomerMember_pd" title="Concentration percentage">12%) of total revenue, and a fourth customer accounted for approximately $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_90F_eus-gaap--Revenues_pn3n3_dm_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FourthCustomerMember_zFnmkDA54VHc" title="Revenues">3.4 million (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FourthCustomerMember_pd" title="Concentration percentage">10%) of total revenue. No other individual customer accounted for greater than 10% of revenue. For the year ended December 31, 2024, one customer accounted for approximately $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_906_eus-gaap--Revenues_pn3n3_dm_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zBMDNWVcmIUe" title="Revenues">12.1 million (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zoFmZwW2pYl3" title="Concentration percentage">32%) of total revenue, a second customer accounted for approximately $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_90C_eus-gaap--Revenues_pn3n3_dm_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SecondCustomerMember_zXuOfMvciMT5" title="Revenues">7.5 million (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SecondCustomerMember_zv5hR8JWEqI7" title="Concentration percentage">20%) of total revenue, a third customer accounted for approximately $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_901_eus-gaap--Revenues_pn3n3_dm_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThirdCustomerMember_z39tjUAKcOwi" title="Revenues">7.3 million (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThirdCustomerMember_pd" title="Concentration percentage">19%) of total revenue, and a fourth customer accounted for approximately $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_905_eus-gaap--Revenues_pn3n3_dm_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FourthCustomerMember_zXyPnRq83FKe" title="Revenues">4.2 million (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFVkVOVUUgKERldGFpbHMgTmFycmF0aXZlKQA_" id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FourthCustomerMember_pd" title="Concentration percentage">11%) of total revenue. No other individual customer accounted for greater than 10% of revenue.

<table cellpadding="0" cellspacing="0" id="xdx_885_eus-gaap--DisaggregationOfRevenueTableTextBlock_zwZugZ3Pm7Yg" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - REVENUE (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BC_z8CyGzk1UhH1" style="display: none; text-align: left; padding-bottom: 1pt">Schedule of disaggregated revenues</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left">Digital assets and capital markets infrastructure</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">32,187,179</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">34,732,400</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Advisory and onboarding</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">3,561,320</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">4,894,073</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Total revenue</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">35,748,499</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">39,626,473</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

32187179

34732400

3561320

4894073

35748499

39626473

12300000

0.34

4200000

0.12

4100000

0.12

3400000

0.10

12100000

0.32

7500000

0.20

7300000

0.19

4200000

0.11

6. COST OF SALES Cost of sales for the year ended December 31, 2025 increased to $5,235,082 compared to $1,921,861 for the year ended December 31, 2024. During the year ended December 31, 2025, Open World Inc. entered into an amendment to an existing contract with a third-party. The amendment modified certain terms and conditions of the original agreement, including a reduction in the token supply to be delivered under the contract. Open World Inc. evaluated the accounting implications of the contract amendment and determined that the modification should be accounted for prospectively. Accordingly, no retrospective adjustment to prior period financial statements was required. As a result of this amendment, Open World Inc. recognized an incremental expense of $4,549,500 during the current year, which is included in cost of sales in the accompanying consolidated statement of operation

5235082

1921861

4549500

7. CASH Cash balance includes certain amounts that are restricted as to use. Restricted cash consists of funds held for the Company’s REAP card, which are designated for specific related expenditures charged to the card and are not available for general operating purposes. The restricted cash balance totaled $5,838 as of December 31, 2025 and $44,473 as of December 31, 2024. The following table presents the Group’s cash as of December 31, 2025, and December 31, 2024. <table cellpadding="0" cellspacing="0" id="xdx_882_eus-gaap--ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_z9dfKVePukse" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - CASH (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="display: none; text-align: left; padding-bottom: 1pt">Schedule of restricted cash balance</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_494_20251231_zyK8dUH6qjt4" style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_498_20241231_zOIUjNpNTwUl" style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0d_maCACEAzeBR_zeJfnvFpaGo3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">723,584</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">3,980,712</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RestrictedCash_iI_pp0d_maCACEAzeBR_zuyijiwKGARj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">5,838</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">44,473</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iTI_pp0d_mtCACEAzeBR_zA4zGQjC0nGb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Total cash</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">729,422</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">4,025,185</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

5838

44473

<table cellpadding="0" cellspacing="0" id="xdx_882_eus-gaap--ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_z9dfKVePukse" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - CASH (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="display: none; text-align: left; padding-bottom: 1pt">Schedule of restricted cash balance</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_494_20251231_zyK8dUH6qjt4" style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_498_20241231_zOIUjNpNTwUl" style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0d_maCACEAzeBR_zeJfnvFpaGo3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">723,584</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">3,980,712</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RestrictedCash_iI_pp0d_maCACEAzeBR_zuyijiwKGARj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">5,838</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">44,473</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iTI_pp0d_mtCACEAzeBR_zA4zGQjC0nGb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Total cash</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">729,422</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">4,025,185</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

723584

3980712

5838

44473

729422

4025185

8. ACCOUNTS RECEIVABLE Accounts receivable consists primarily of amounts due from customers comprising of crypto assets and other receivables. Accounts receivable – crypto assets (see below) include embedded derivative features arising from the right to receive a fixed quantity of crypto assets. These instruments are accounted for in their entirety at fair value, with changes in fair value recognized in the consolidated Statement of Operations within “Change in fair value of accounts receivable.” The contractual amounts of accounts receivable denominated in crypto assets approximate their fair value as of each reporting date. The following table presents the Group’s accounts receivable as of December 31, 2025, and December 31, 2024. <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zAijDIQ4IBK9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ACCOUNTS RECEIVABLE (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BD_zyRHp55eNqP" style="display: none; text-align: left; padding-bottom: 1pt">Schedule of accounts receivable</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_494_20251231_z2T5VFuEC5w7" style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_498_20241231_zjEMThkiSPvc" style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_ecustom--AccountsReceivableCryptoAssets_iI_pp0d_maARNz2Rj_zqPGqoKL3uP4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Accounts receivable - crypto assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">1,211,696</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">13,463,445</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccountsReceivableOther_iI_pp0d_maARNz2Rj_zzIr7nAEguL5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accounts receivable - other</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">54,527</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">471,168</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccountsReceivableNet_iTI_pp0d_mtARNz2Rj_z4gAIkleo4Xc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Total accounts receivable</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,266,223</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">13,934,613</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> The following table presents a reconciliation of accounts receivable, including embedded derivative features, for the years ended December 31, 2025 and 2024: <table cellpadding="0" cellspacing="0" id="xdx_89A_ecustom--ScheduleOfReconciliationAccountsReceivableTableTextBlock_zaYcTVrJ3geg" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ACCOUNTS RECEIVABLE (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B7_z784wc1bnllj" style="display: none; text-align: left">Schedule of reconciliation accounts receivable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250101__20251231_zQqBPY24kBVd" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20240101__20241231_zSfEOBqSn57d" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--AccountsReceivableNet_iS_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold">Beginning balance, January 1</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">13,934,613</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">2,395,177</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccountsReceivablePurchase_i_pp0p" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additions / new contracts</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,652,008</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,749,349</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AccountsReceivableSettlements_i_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Settlements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22,636,869</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,617,356</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--ChangesInFairValueOfReceivables_iN_di_zseDVmGdAHUe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in fair value of receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,711,086</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,722,651</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--ChangeInRevenueContract_i_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in revenue contract</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(4,549,500</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_i_pp0p" style="vertical-align: bottom; background-color: White"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Allowance for doubtful accounts</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">(422,943</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">(869,906</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--AccountsReceivableNet_iE_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Ending balance, December 31</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,266,223</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">13,934,613</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> The following table presents a reconciliation of the Group’s allowance for doubtful accounts, for the years ended December 31, 2025 and 2024: <table cellpadding="0" cellspacing="0" id="xdx_89D_ecustom--ScheduleOFAllowanceForDoubtfulAccountsTableTextBlock_zEKD4yg7ueRj" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ACCOUNTS RECEIVABLE (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BD_zaHz0oneRIdj" style="display: none; text-align: left">Schedule of allowance for doubtful accounts</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250101__20251231_zPudBLJtFI1c" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20240101__20241231_ziMO0RPiEP98" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold">Beginning balance, January 1</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">869,906</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">–</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ProvisionForDoubtfulAccounts_i_pp0p" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Provision for expected credit losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">422,943</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">869,906</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_i_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Write-offs charged against the allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AllowanceForLoanAndLeaseLossRecoveryOfBadDebts_i_pp0p" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Recoveries of amounts previously written off</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Ending balance, December 31</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,292,849</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">869,906</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> Credit Risk Accounts receivable expose the Group to credit risk arising from counterparties’ inability to pay amounts due. The Group monitors the creditworthiness of its customers on an ongoing basis and establishes an allowance for doubtful accounts to reflect expected credit losses. The allowance is based on historical loss experience, the aging of balances, and management’s assessment of current and expected future economic conditions. As of December 31, 2025, and December 31, 2024, the Group had accounts receivable positions with one and two counterparties, respectively, each accounting for more than 10 percent of total receivables. Fair Value Hierarchy The Group’s accounts receivable - crypto assets, including embedded derivative features, are classified within Level 2 of the fair-value hierarchy under ASC Topic 820, Fair Value Measurement, as valuation is based on quoted market prices for identical crypto assets in active markets.

<table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zAijDIQ4IBK9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ACCOUNTS RECEIVABLE (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BD_zyRHp55eNqP" style="display: none; text-align: left; padding-bottom: 1pt">Schedule of accounts receivable</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_494_20251231_z2T5VFuEC5w7" style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_498_20241231_zjEMThkiSPvc" style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_ecustom--AccountsReceivableCryptoAssets_iI_pp0d_maARNz2Rj_zqPGqoKL3uP4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Accounts receivable - crypto assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">1,211,696</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">13,463,445</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccountsReceivableOther_iI_pp0d_maARNz2Rj_zzIr7nAEguL5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accounts receivable - other</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">54,527</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">471,168</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccountsReceivableNet_iTI_pp0d_mtARNz2Rj_z4gAIkleo4Xc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Total accounts receivable</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,266,223</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">13,934,613</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

1211696 13463445 54527 471168

1266223

13934613

<table cellpadding="0" cellspacing="0" id="xdx_89A_ecustom--ScheduleOfReconciliationAccountsReceivableTableTextBlock_zaYcTVrJ3geg" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ACCOUNTS RECEIVABLE (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B7_z784wc1bnllj" style="display: none; text-align: left">Schedule of reconciliation accounts receivable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250101__20251231_zQqBPY24kBVd" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20240101__20241231_zSfEOBqSn57d" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--AccountsReceivableNet_iS_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold">Beginning balance, January 1</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">13,934,613</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">2,395,177</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccountsReceivablePurchase_i_pp0p" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additions / new contracts</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,652,008</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,749,349</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AccountsReceivableSettlements_i_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Settlements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22,636,869</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,617,356</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--ChangesInFairValueOfReceivables_iN_di_zseDVmGdAHUe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net change in fair value of receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,711,086</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,722,651</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--ChangeInRevenueContract_i_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in revenue contract</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(4,549,500</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_i_pp0p" style="vertical-align: bottom; background-color: White"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Allowance for doubtful accounts</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">(422,943</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">(869,906</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--AccountsReceivableNet_iE_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Ending balance, December 31</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,266,223</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">13,934,613</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

13934613

2395177

26652008

39749349

-22636869 -24617356 11711086 2722651 -4549500

-422943

-869906

1266223

13934613

<table cellpadding="0" cellspacing="0" id="xdx_89D_ecustom--ScheduleOFAllowanceForDoubtfulAccountsTableTextBlock_zEKD4yg7ueRj" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ACCOUNTS RECEIVABLE (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BD_zaHz0oneRIdj" style="display: none; text-align: left">Schedule of allowance for doubtful accounts</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250101__20251231_zPudBLJtFI1c" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20240101__20241231_ziMO0RPiEP98" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold">Beginning balance, January 1</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">869,906</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">–</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ProvisionForDoubtfulAccounts_i_pp0p" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Provision for expected credit losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">422,943</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">869,906</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_i_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Write-offs charged against the allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AllowanceForLoanAndLeaseLossRecoveryOfBadDebts_i_pp0p" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Recoveries of amounts previously written off</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Ending balance, December 31</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,292,849</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">869,906</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

869906

422943

869906

1292849

869906

9. CRYPTO ASSETS The Group accounts for crypto assets in accordance with ASU 2023-08, Accounting for and Disclosure of Crypto Assets. Crypto assets are classified as intangible assets and measured at fair value at each reporting date, with changes in fair value recognized in net income. Crypto assets held for operations are received as a form of payment and are converted to cash or used to fulfill expenses in the ordinary course of the Group’s business. Stablecoins such as USDT and USDC are redeemable on a one-to-one basis for U.S. dollars and are classified as crypto assets held for operations in the consolidated Balance Sheet. No individual token balance was greater than 5% of equity. The following table summarizes the Group’s crypto assets as of December 31, 2025, and December 31, 2024 (in USD): <table cellpadding="0" cellspacing="0" id="xdx_890_ecustom--ScheduleOfCryptoAssetsTableTextBlock_zKw095VavfSb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - CRYPTO ASSETS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BB_z6XDzrTTXo4c" style="display: none; padding-bottom: 1pt">Schedule of crypto assets</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">Category</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td> <td colspan="10" style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">December 31, 2025</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td><td style="border-top: Black 1pt solid; font-weight: bold"> </td> <td colspan="10" style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">December 31, 2024</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Units </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Cost Basis ($)</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Fair Value ($)</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Units </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Cost Basis ($)</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Fair Value ($)</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; text-align: left">Stablecoins (USDT, USDC)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">340,438</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">340,438</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">340,438</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">1,415,663</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">1,415,663</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">1,415,631</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Tokens</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">64,111,091</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">8,737,332</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">582,548</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">11,893,972</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">9,955,895</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">6,591,425</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Total</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">64,451,529</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">9,077,770</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">922,987</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">13,309,635</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">11,371,558</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">8,007,056</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> The following table presents a reconciliation of the crypto assets held for operations by the Group as of December 31, 2025, and December 31, 2024: <table cellpadding="0" cellspacing="0" id="xdx_890_ecustom--ScheduleOfReconciliationOfCryptoAssetsTableTextBlock_zVwbhgszAp38" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - CRYPTO ASSETS (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BC_zhf6gAbvaPrg" style="display: none; text-align: left">Schedule of reconciliation of the crypto assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20250101__20251231_zzGJmCU97QOd" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20240101__20241231_zmGU1TBNFwOh" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--CryptoAssetFairValue_iS_pp0d_zRrcdzZ67ZE5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold">Beginning balance, January 1</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">8,007,056</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">524,409</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CryptoAssetPurchase_zd0qEktAWFce" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additions (purchases/receipts)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,198,384</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,146,088</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CryptoAssetSale_iN_di_zcogFfTvrjV1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Disposals (sales/payments)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(27,253,393</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,358,231</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--CryptoAssetPeriodIncreaseDecrease_i_pp0p" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(5,029,060</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(3,305,210</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--CryptoAssetFairValue_iE_pp0d_zzBARsn5gKu4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Ending balance, December 31</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">922,987</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">8,007,056</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CryptoAssetRealizedGainLossOperating_i_pp0p" style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Realized Gains and Losses</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">(4,374,903</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">122,250</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> When crypto assets are disposed of, realized gains and losses are calculated using the FIFO (first-in, first-out) method. The fair value of the Group’s crypto assets is determined based on quoted prices in active markets (Level 1 inputs) as of the reporting date. The Group holds crypto assets in self-custodied wallets and with third-party custodians. These balances are not bank deposits and are not insured by the FDIC or SIPC. Accordingly, the Group is subject to custodial, counterparty, and cybersecurity risks in the event of custodian insolvency, security breaches, or technological failures. When crypto assets are disposed of, realized gains and losses are calculated using the FIFO (first-in, first-out) method. <table cellpadding="0" cellspacing="0" id="xdx_890_ecustom--ScheduleOfCryptoAssetsTableTextBlock_zKw095VavfSb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - CRYPTO ASSETS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BB_z6XDzrTTXo4c" style="display: none; padding-bottom: 1pt">Schedule of crypto assets</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">Category</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td> <td colspan="10" style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">December 31, 2025</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td><td style="border-top: Black 1pt solid; font-weight: bold"> </td> <td colspan="10" style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">December 31, 2024</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Units </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Cost Basis ($)</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Fair Value ($)</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Units </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Cost Basis ($)</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Fair Value ($)</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; text-align: left">Stablecoins (USDT, USDC)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">340,438</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">340,438</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">340,438</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">1,415,663</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">1,415,663</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">1,415,631</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Tokens</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">64,111,091</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">8,737,332</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">582,548</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">11,893,972</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">9,955,895</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">6,591,425</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Total</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">64,451,529</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">9,077,770</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">922,987</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">13,309,635</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">11,371,558</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">8,007,056</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> 340438

340438

1415663

1415631

64111091

8737332

582548

11893972

9955895

6591425

64451529

9077770

922987

13309635

11371558

8007056

<table cellpadding="0" cellspacing="0" id="xdx_890_ecustom--ScheduleOfReconciliationOfCryptoAssetsTableTextBlock_zVwbhgszAp38" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - CRYPTO ASSETS (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BC_zhf6gAbvaPrg" style="display: none; text-align: left">Schedule of reconciliation of the crypto assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20250101__20251231_zzGJmCU97QOd" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20240101__20241231_zmGU1TBNFwOh" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--CryptoAssetFairValue_iS_pp0d_zRrcdzZ67ZE5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold">Beginning balance, January 1</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">8,007,056</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">524,409</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CryptoAssetPurchase_zd0qEktAWFce" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additions (purchases/receipts)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,198,384</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,146,088</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CryptoAssetSale_iN_di_zcogFfTvrjV1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Disposals (sales/payments)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(27,253,393</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,358,231</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--CryptoAssetPeriodIncreaseDecrease_i_pp0p" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(5,029,060</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(3,305,210</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--CryptoAssetFairValue_iE_pp0d_zzBARsn5gKu4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Ending balance, December 31</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">922,987</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">8,007,056</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CryptoAssetRealizedGainLossOperating_i_pp0p" style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Realized Gains and Losses</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">(4,374,903</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">122,250</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

8007056

524409

25198384

25146088

27253393

14358231

-5029060

-3305210

922987

8007056

-4374903

122250

10. LEASES The Group leases office space under a non-cancellable operating lease agreement. The lease commenced on April 2, 2024, and has a five-year term expiring on April 1, 2029. The lease provides for fixed annual base rent escalating annually and includes an option to extend for one additional five-year term at prevailing market rates. The renewal option is not reasonably certain to be exercised and, therefore, is not included in the measurement of the lease liability. The lease requires payment of variable common area maintenance (“CAM”) charges based on the Group’s proportionate share of building operating costs (10.23%). These variable lease payments are expensed as incurred and are not included in the measurement of the right-of-use asset or lease liability. Right-of-Use Assets and Lease Liabilities The balances of operating lease right-of-use assets and lease liabilities as at December 31, 2025, and December 31, 2024 are as follows: <table cellpadding="0" cellspacing="0" id="xdx_89F_ecustom--ScheduleOfOperatingLeaseAssetsAndLiabilitiesTableTextBlock_zPh2hxhdwm1a" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - LEASES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B8_zaY2MKgrukmh" style="display: none; font-weight: bold; text-align: left">Schedule of operating lease assets and liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20251231_ziB0IQcBo3H3" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20241231_zcBkeI0QsAdk" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0d_zskAfb8mzpCi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left">Right-of-use asset, net</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">982,858</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">1,258,424</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiabilityAbstract_iB_zRklwSrwKL28" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Lease Liability:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0d_maOLLze5x_zj5uRiQ2X4wh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Current portion of lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">284,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">263,352</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0d_maOLLze5x_zIpDo1oj86j1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left; padding-bottom: 1pt">Non-current portion of lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">723,844</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">1,008,495</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtOLLze5x_zvhfol5bBmm8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Total lease liability</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,008,495</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,271,847</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> Maturity of Lease Liabilities Future minimum lease payments under non-cancellable operating leases as of December 31, 2025, were: <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--FinanceLeaseLiabilityMaturityTableTextBlock_zSqST9VrO6uf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%" summary="xdx: Disclosure - LEASES (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BE_z10Lig0v6Qri" style="display: none; padding-left: 9pt; text-align: left">Schedule of maturity of lease liabilities</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20251231_zEI7d4WxyGyl" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 9pt; padding-bottom: 1pt; text-align: left; white-space: nowrap; font-weight: bold">Year</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: center">Total ($)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0d_maLOLLPzfrT_zOEVgiCaFIQc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; width: 81%; text-align: left">2026</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">321,762</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pp0d_maLOLLPzfrT_zKnIxjtYswE1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">2027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">331,432</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pp0d_maLOLLPzfrT_zxxc0nbqs0Nd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">2028</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">341,381</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pp0d_maLOLLPzfrT_z6P2CzSdIvWh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; padding-bottom: 1pt; text-align: left">2029</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">85,971</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pp0d_mtLOLLPzfrT_zTYBtlEHdksf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">Total undiscounted lease payments</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,080,546</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pp0d_di_z4gBu3Piw7Z4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Less: imputed interest</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(72,051</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iI_pn3n3_z8D0bCBi4bog" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">Present value of lease liability</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,008,495</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> Other Information <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">§</td><td style="text-align: justify">Weighted average remaining lease term: <span class="xdx_phnt_RGlzY2xvc3VyZSAtIExFQVNFUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_90C_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zWD7QJftFQBf" title="Weighted average remaining lease term">4.25 years</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">§</td><td style="text-align: justify">Weighted average discount rate: 4.35%</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">§</td><td style="text-align: justify">Cash paid for amounts included in the measurement of lease liabilities, included in operating cash flows: $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIExFQVNFUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_903_ecustom--CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilitiesIncludedInOperatingCashFlows_pn3n3_c20250101__20251231_zsdzneLA2hH9" title="Cash paid for amounts included in the measurement of lease liabilities, included in operating cash flows">312,373 (2024 – $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIExFQVNFUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_90A_ecustom--CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilitiesIncludedInOperatingCashFlows_pn3n3_c20240101__20241231_zkSjSnh5eVQ4" title="Cash paid for amounts included in the measurement of lease liabilities, included in operating cash flows">229,116).</td></tr></table> <table cellpadding="0" cellspacing="0" id="xdx_89F_ecustom--ScheduleOfOperatingLeaseAssetsAndLiabilitiesTableTextBlock_zPh2hxhdwm1a" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - LEASES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B8_zaY2MKgrukmh" style="display: none; font-weight: bold; text-align: left">Schedule of operating lease assets and liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20251231_ziB0IQcBo3H3" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20241231_zcBkeI0QsAdk" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0d_zskAfb8mzpCi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left">Right-of-use asset, net</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">982,858</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 15%; font-weight: bold; text-align: right">1,258,424</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiabilityAbstract_iB_zRklwSrwKL28" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Lease Liability:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0d_maOLLze5x_zj5uRiQ2X4wh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">Current portion of lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">284,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">263,352</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0d_maOLLze5x_zIpDo1oj86j1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left; padding-bottom: 1pt">Non-current portion of lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">723,844</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">1,008,495</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtOLLze5x_zvhfol5bBmm8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; text-align: left; padding-bottom: 1pt">Total lease liability</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,008,495</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,271,847</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

982858

1258424

284651

263352

723844

1008495

1008495000

1271847000

<table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--FinanceLeaseLiabilityMaturityTableTextBlock_zSqST9VrO6uf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%" summary="xdx: Disclosure - LEASES (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BE_z10Lig0v6Qri" style="display: none; padding-left: 9pt; text-align: left">Schedule of maturity of lease liabilities</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20251231_zEI7d4WxyGyl" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 9pt; padding-bottom: 1pt; text-align: left; white-space: nowrap; font-weight: bold">Year</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: center">Total ($)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0d_maLOLLPzfrT_zOEVgiCaFIQc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; width: 81%; text-align: left">2026</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">321,762</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pp0d_maLOLLPzfrT_zKnIxjtYswE1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; text-align: left">2027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">331,432</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pp0d_maLOLLPzfrT_zxxc0nbqs0Nd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt; text-align: left">2028</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">341,381</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pp0d_maLOLLPzfrT_z6P2CzSdIvWh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 9pt; padding-bottom: 1pt; text-align: left">2029</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">85,971</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pp0d_mtLOLLPzfrT_zTYBtlEHdksf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">Total undiscounted lease payments</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,080,546</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pp0d_di_z4gBu3Piw7Z4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Less: imputed interest</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(72,051</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iI_pn3n3_z8D0bCBi4bog" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">Present value of lease liability</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,008,495</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

321762

331432

341381

85971

1080546

72051

1008495000

P4Y3M

0.0435

312373000 229116000

11. RELATED PARTY TRANSACTIONS The Group enters into transactions with related parties in the normal course of business. Related parties include directors, officers, affiliates, or significant shareholders. The following table summarizes the Group’s transactions and balances with related parties for the years ended December 31, 2025, and the year ended December 31, 2024: <table cellpadding="0" cellspacing="0" id="xdx_88F_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zl29A2jF4hSe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - RELATED PARTY TRANSACTIONS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B5_z1GG4i3HrdT3" style="display: none; text-align: justify">Schedule of related parties transactions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: justify">Description</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Consulting and management fees</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">3,068,943</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">1,553,588</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expenses incurred in relation to consulting fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,556,406</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,182,150</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Outstanding payables at year-end</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">337,403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">968,085</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: justify; padding-bottom: 1pt">Loans receivable at year-end</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">814,369</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td></tr> </table> These balances are unsecured, non-interest bearing, and are settled in the ordinary course of business. Loan Receivable On November 2, 2025, the Company entered into a Master Loan Agreement with Mosaic Capital Inc., an entity for which an officer of the Company serves as a director. The Company lent crypto assets to Mosaic under the agreement. The loan provides for a variable return based on changes in net asset value and may be repaid in cash or crypto assets. The loan is not secured by specific collateral. The loan receivable is measured at fair value, with changes in fair value recognized in gain or loss. Upon settlement, the difference between the carrying value of the receivable and the value of consideration received is recognized as a realized gain or loss. During the year ended December 31, 2025, the Company recognized a loss of $4,037,614 from changes in fair value.

<table cellpadding="0" cellspacing="0" id="xdx_88F_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zl29A2jF4hSe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - RELATED PARTY TRANSACTIONS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B5_z1GG4i3HrdT3" style="display: none; text-align: justify">Schedule of related parties transactions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: justify">Description</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Consulting and management fees</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">3,068,943</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">1,553,588</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expenses incurred in relation to consulting fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,556,406</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,182,150</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Outstanding payables at year-end</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">337,403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">968,085</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: justify; padding-bottom: 1pt">Loans receivable at year-end</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">814,369</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">-</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td></tr> </table>

3068943 1553588 3556406 2182150

337403

968085

814369 4037614

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">12.</td><td style="text-align: justify">COMMITMENTS AND CONTINGENCIES</td></tr></table> The Group is subject to various claims and legal proceedings in the normal course of business. The Group evaluates these matters on an ongoing basis and establishes provisions when a loss is considered probable and reasonably estimable, in accordance with ASC Topic 450, Contingencies. During the year ended December 31, 2024, the Group entered into a lease agreement for its offices in the Cayman Islands. Annual lease commitments are described in Note 10. The Group has no other material commitments or loss contingencies requiring disclosure as of December 31, 2025, and December 31, 2024.

13. SHARE CAPITAL [a] Authorized capital The Company is incorporated as an exempted company limited by shares under the Companies Act of The Cayman Islands. Pursuant to its Memorandum of Association, the Company is authorized to issue 500,000,000 ordinary shares, with a par value $0.0001 per share, representing total authorized share capital of $50,000. [b] Common shares issued Each ordinary share entitles the holder to one vote per share, the right to receive dividends as and when declared by the Board of Directors, and a pro rata share of the residual assets of the Group upon liquidation. Certain ordinary shares issued were subject to Restricted Stock Purchase Agreements with vesting schedules, transfer restrictions, and repurchase rights in favor of the Group. During the years ended December 31, 2023 and 2024, the Company had the following share activity: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">October 4, 2023, 50,000 ordinary shares issued;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">November 17, 2023, 50,000 ordinary shares issued;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">March 17, 2024, 5,000 ordinary shares issued;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">March 21, 2024, 5,000 ordinary shares surrendered and cancelled;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">March 27, 2024, 5,000 ordinary shares issued;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">April 1, 2024, 750 ordinary shares issued;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">April 2, 2024, 5,000 ordinary shares repurchased and returned to treasury;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">September 12, 2024, 5,280 ordinary shares issued; and</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">December 27, 2024, 5,000 ordinary shares issued.</td></tr></table> As of December 31, 2024, the Group had 116,030 ordinary shares issued, of which 5,000 shares were held in treasury, resulting in 111,030 ordinary shares issued and outstanding. On October 9, 2025, the Company completed a corporate reorganization (the “Reorganization”) pursuant to which Open World Ltd. became the parent company of Open World Inc. and Webslinger Advisors SEZC Inc. The Reorganization was a transaction among entities under common control and has been accounted for in accordance with ASC Topic 805-50, Business Combinations. Accordingly, the consolidated financial statements for the years ended December 31, 2025 and 2024 have been retrospectively presented as if the Reorganization had occurred on January 1, 2023. The assets, liabilities, and results of operations of the combining entities are included at their historical carrying amounts. No gain or loss was recognized in connection with the Reorganization. During the year ended December 31, 2025, the Company had the following share activity: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">May 30, 2025, 9,000 ordinary shares surrendered and cancelled;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">November 12, 2025, 773 ordinary shares surrendered and cancelled;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">December 10, 2025, 1,000 ordinary shares surrendered and cancelled; and</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">December 10, 2025, 25,823 ordinary shares issued.</td></tr></table> Shares surrendered and cancelled during 2025 include shares previously classified as treasury stock, which were retired upon cancellation, including as part of the Reorganization. As of December 31, 2025, the Group had 126,080 ordinary shares issued and outstanding, with no treasury shares held. [c] Additional paid-in capital Additional paid-in capital (“APIC”) represents amounts received in excess of the par value of common stock and includes equity-based compensation and other equity transactions. Changes in APIC during the year ended December 31, 2025 were as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Stock-based compensation of $4,378,358;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Other equity transactions, net of $695.</td></tr></table> As of December 31, 2025, APIC totaled $4,379,103. Changes in APIC for the years ended December 31, 2025 and 2024 are presented in the consolidated statements of stockholders’ equity. [d] Simple agreements for future equity During the year ended December 31, 2024, the Group issued Simple Agreements for Future Equity (“SAFEs”) to various investors for an aggregate amount of $2,000,000. Each SAFE provides the holder the right to receive shares in the Group upon the occurrence of a future equity financing, liquidity event, or dissolution. The SAFEs are classified as equity instruments consistent with ASC Topic 505, Equity. Key Terms include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Post-Money Valuation Cap: $20,000,000</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Conversion: Upon an equity financing, each SAFE converts into the greater of (i) preferred shares based on the financing price, or (ii) SAFE preferred shares based on the SAFE price</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Liquidity/Dissolution: In such events, holders receive the greater of (i) their purchase amount, or (ii) the amount payable had the SAFE converted into ordinary shares at the Liquidity Price</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Liquidation Priority: Junior to debt, pari passu with other SAFEs and preference shares, and senior to ordinary shares</td></tr></table> There were no new issuances during the year ended December 31, 2025. [e] Stock Options and Restricted Shares The Group adopted an equity incentive plan (the “Plan”) in 2025, which permits the grant of stock options and other equity awards to directors, officers, employees and other eligible participants. Awards under the Plan are subject to vesting conditions as determined by the Board of Directors. Stock Options On December 10, 2025, the Company granted 13,920 stock options under the Plan. Each option entitles the holder to purchase one ordinary share at an exercise price of $<span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20251201__20251210__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_pd" title="Exercise price">168.67 per share and is subject to service-based vesting conditions. The grant-date fair value of the options was estimated using the Black-Scholes option pricing model with the following assumptions: risk-free interest rate of <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_pd" title="Risk-free interest rate">3.84%, expected volatility of <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_pd" title="Expected volatility">75%, expected term of <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z2O1aLo6endh" style="display: none" title="Expected term">6 six years, and dividend yield of <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_pd" title="Dividend yield">0%. The weighted-average grant-date fair value was $115.01 per option. Restricted Shares On December 10, 2025, the Company issued 25,823 ordinary shares pursuant to Restricted Share Subscription Agreements. The fair value of the restricted shares on the date of grant was $168.67 per share. The shares are subject to service-based vesting conditions for certain recipients, including one-year cliff provisions and total vesting periods of either three or four years, as applicable to the recipient. Certain shares were fully vested upon issuance. Compensation cost is recognized on a straight-line basis over the requisite service period. As of December 31, 2025, <span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedSharesMember_pd" title="Vested shares">21,704 restricted shares were vested and <span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_c20251231__us-gaap--AwardTypeAxis__custom--RestrictedSharesMember_pd" title="Unvested shares">4,119 remained unvested (2024 – none). As of December 31, 2025, total unrecognized compensation cost related to unvested restricted shares was approximately $<span id="xdx_900_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_c20251231__us-gaap--AwardTypeAxis__custom--RestrictedSharesMember_pp0p" title="Unrecognized compensation cost">567,500, which is expected to be recognized over a weighted-average period of approximately <span id="xdx_900_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedSharesMember_zCUjc0MLNqy7" title="Weighted-average period">0.6 years. Restricted shares were granted in 2024. No material stock-based compensation expense was recognized. No stock options were granted in 2024. Stock-based compensation expense for the years ended December 31 was as follows: <table cellpadding="0" cellspacing="0" id="xdx_882_eus-gaap--ScheduleOfDeferredCompensationArrangementWithIndividualShareBasedPaymentsTextBlock_z1bBzI2wMpw6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SHARE CAPITAL (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B8_zmqEVRMpjMgl" style="display: none; text-align: justify; padding-bottom: 1pt">Schedule of stock based compensation expense</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: justify">Description</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Stock options</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">590,295</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Restricted shares</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">3,787,807</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; padding-bottom: 1pt">Total stock-based compensation</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">4,378,102</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">-</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td></tr> </table> [f] Dilutive common shares As of December 31, 2025, the Group’s potentially dilutive securities are comprised of the simple agreements for future equity noted above. The potential effects thereof are disclosed in Note 13. [g] Dividends During year ended December 31, 2025, the Group declared dividends totaling $5,068,583 (December 31, 2024: $4,381,091). Dividends are recognized when declared by the Board of Directors and are presented as a reduction of retained earnings in the accompanying consolidated financial statements. [h] Warrants to issue common stock As of December 31, 2025, the Company has entered into an agreement that may result in the issuance of up to 2,000,000 warrants in connection with a go-to-market and business development arrangement. However, such warrants had not been issued or outstanding as of December 31, 2025. The warrants, if issued, are expected to have an exercise price based on a discount to the public offering price of the Company’s shares at the time of a public listing, and would become exercisable upon the occurrence of such public listing. The warrants are expected to have a contractual term to be determined at the time of issuance. The Company will evaluate any warrants issued under ASC Topic 815-40, Derivatives and Hedging, at the time of issuance to determine the appropriate classification as either equity or liability instruments. Based on the expected terms, the Company anticipates that such warrants would qualify for equity classification, as they are expected to require settlement solely in a fixed number of shares of the Company’s common stock and be indexed to the Company’s own stock without features requiring net cash settlement. If issued, the warrants would be recorded at fair value within additional paid-in capital and not subsequently remeasured if classified as equity. Full exercise would result in the issuance of up to 2,000,000 shares, which may be dilutive.

500000000

0.0001

50000

5000

750

5000

5280

5000

116030

5000

9000

773

1000

25823

126080

4378358

695

2000000

13920

168.67

0.0384

0.75

P6Y

115.01

25823

168.67

21704

4119

567500

P0Y7M6D

<table cellpadding="0" cellspacing="0" id="xdx_882_eus-gaap--ScheduleOfDeferredCompensationArrangementWithIndividualShareBasedPaymentsTextBlock_z1bBzI2wMpw6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SHARE CAPITAL (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B8_zmqEVRMpjMgl" style="display: none; text-align: justify; padding-bottom: 1pt">Schedule of stock based compensation expense</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: justify">Description</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: right">December 31, 2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Stock options</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">590,295</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Restricted shares</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">3,787,807</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; padding-bottom: 1pt">Total stock-based compensation</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">4,378,102</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">-</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td></tr> </table>

590295 3787807 4378102

5068583

4381091

2000000 2000000

14. EARNINGS PER SHARE Basic earnings per share is computed by dividing net income by the weighted-average number of ordinary shares outstanding during the period. Diluted earnings per share reflects the potential dilution from the assumed exercise or conversion of instruments into ordinary shares, if dilutive. <table cellpadding="0" cellspacing="0" id="xdx_883_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zWTIWH5Z50vb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EARNINGS PER SHARE (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BD_zlAwNQHq6Wfl" style="display: none; text-align: justify">Schedule of earnings per share</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20250101__20251231_zIFOlBfk0IF" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_499_20240101__20241231_zRdykowfAgZ9" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: justify">(in USD, except share data)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: center">2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_i_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Net (loss) income</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">(20,229,064</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">25,046,569</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i_pd" style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: justify; padding-bottom: 1pt">Weighted-average shares outstanding — basic</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">107,042</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">102,346</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--EffectOfDilutiveInstrumentsAbstract_iB_zy4UnNSjVnN1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Effect of dilutive instruments:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--SimpleAgreementsForFutureEquitySafes_i01_pd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">– Simple agreements for future equity (SAFEs)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,337</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_i_pd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; text-align: justify; padding-bottom: 1pt">Weighted-average shares outstanding — diluted</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">107,042</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">114,683</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareBasicAbstract_iB_zdyNKpsS7RG" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Earnings per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--EarningsPerShareBasic_i01_pd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(189</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">245</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EarningsPerShareDiluted_i01_pd" style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: justify; padding-bottom: 1pt">Diluted</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">(189</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">218</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td></tr> </table> Diluted loss per share for 2025 excludes the effect of 14,009 SAFEs (2024 - 12,337) due to the net loss for the year as the effect would be anti-dilutive.

<table cellpadding="0" cellspacing="0" id="xdx_883_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zWTIWH5Z50vb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EARNINGS PER SHARE (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8BD_zlAwNQHq6Wfl" style="display: none; text-align: justify">Schedule of earnings per share</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20250101__20251231_zIFOlBfk0IF" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_499_20240101__20241231_zRdykowfAgZ9" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: justify">(in USD, except share data)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: center">2025</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: center">2024</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_i_pp0p" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Net (loss) income</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">(20,229,064</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">25,046,569</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i_pd" style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: justify; padding-bottom: 1pt">Weighted-average shares outstanding — basic</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">107,042</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">102,346</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--EffectOfDilutiveInstrumentsAbstract_iB_zy4UnNSjVnN1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Effect of dilutive instruments:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--SimpleAgreementsForFutureEquitySafes_i01_pd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">– Simple agreements for future equity (SAFEs)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,337</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_i_pd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; text-align: justify; padding-bottom: 1pt">Weighted-average shares outstanding — diluted</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">107,042</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">114,683</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareBasicAbstract_iB_zdyNKpsS7RG" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Earnings per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--EarningsPerShareBasic_i01_pd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(189</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">245</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EarningsPerShareDiluted_i01_pd" style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: justify; padding-bottom: 1pt">Diluted</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">(189</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right">218</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td></tr> </table>

-20229064

25046569

107042

102346

12337

107042

114683

-189

245

-189

218

15. FAIR VALUE MEASUREMENTS The Group’s financial instruments consist of cash, accounts receivable, other receivables, accounts payable and accrued liabilities, lease liabilities, and derivative instruments. Except as noted below, the carrying amounts of these instruments approximate their fair values due to their short maturities. The fair value of long-term lease liabilities also approximates their carrying amounts because of changes in interest rates and the Group’s credit risk since inception has been insignificant. The Group measures certain financial assets and liabilities at fair value in accordance with ASC Topic 820, Fair Value Measurement. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are classified in the following hierarchy: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. Level 3: Significant unobservable inputs that reflect the Group’s own assumptions about the assumptions that market participants would use. Fair Value Hierarchy The following table presents assets and liabilities measured at fair value on a recurring basis as of December 31, 2025, and December 31, 2024 (in USD): <table cellpadding="0" cellspacing="0" id="xdx_88E_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zY1Bwhttm5Vk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B7_zwbgXzpQPGB6" style="display: none; text-align: justify">Schedule of assets and liabilities measured at fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: justify">Assets</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Level 1</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td><td style="border-top: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Level 2</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td><td style="border-top: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Level 3</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td><td style="border-top: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Total</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: justify">December 31, 2025</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">729,422</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">729,422</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accounts Receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,211,696</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,211,696</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Crypto Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">922,987</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">922,987</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Shares and warrants receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_ecustom--SharesAndWarrantsReceivable_iI_pp0d_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zFqx3jJzdar4" title="Shares and warrants receivable">156,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--SharesAndWarrantsReceivable_iI_pp0d_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zJKUX6R521E9" title="Shares and warrants receivable">429,598</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_ecustom--SharesAndWarrantsReceivable_iI_pp0d_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z1TUrPYV0mua" title="Shares and warrants receivable">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">585,598</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Investment – current portion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--InvestmentCurrentPortion_iI_pp0d_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zXhG3AqVA6E9" title="Investment - current portion">539,328</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--InvestmentCurrentPortion_iI_pp0d_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zMLLxY1ZG7Ud" title="Investment - current portion">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">539,328</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Loan receivable</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">814,369</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">814,369</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; text-align: justify; padding-bottom: 1pt">Total</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">3,162,106</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,641,294</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">-</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">4,803,400</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify; padding-bottom: 1pt">December 31, 2024</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,025,185</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,025,185</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accounts Receivable – Crypto Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,463,445</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,463,445</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Crypto Assets</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">8,007,056</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">8,007,056</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; text-align: justify; padding-bottom: 1pt">Total</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">12,032,241</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">13,463,445</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">-</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">25,495,686</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_88E_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zY1Bwhttm5Vk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B7_zwbgXzpQPGB6" style="display: none; text-align: justify">Schedule of assets and liabilities measured at fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: justify">Assets</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Level 1</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td><td style="border-top: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Level 2</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td><td style="border-top: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Level 3</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td><td style="border-top: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-top: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Total</td><td style="border-top: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: justify">December 31, 2025</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">729,422</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">729,422</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accounts Receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,211,696</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,211,696</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Crypto Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">922,987</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">922,987</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Shares and warrants receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_ecustom--SharesAndWarrantsReceivable_iI_pp0d_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zFqx3jJzdar4" title="Shares and warrants receivable">156,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_ecustom--SharesAndWarrantsReceivable_iI_pp0d_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zJKUX6R521E9" title="Shares and warrants receivable">429,598</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_ecustom--SharesAndWarrantsReceivable_iI_pp0d_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z1TUrPYV0mua" title="Shares and warrants receivable">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">585,598</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Investment – current portion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_ecustom--InvestmentCurrentPortion_iI_pp0d_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zXhG3AqVA6E9" title="Investment - current portion">539,328</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--InvestmentCurrentPortion_iI_pp0d_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zMLLxY1ZG7Ud" title="Investment - current portion">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">539,328</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Loan receivable</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">814,369</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">814,369</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; text-align: justify; padding-bottom: 1pt">Total</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">3,162,106</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,641,294</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">-</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">4,803,400</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify; padding-bottom: 1pt">December 31, 2024</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: right"> </td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,025,185</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,025,185</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accounts Receivable – Crypto Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,463,445</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,463,445</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Crypto Assets</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">8,007,056</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">8,007,056</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; text-align: justify; padding-bottom: 1pt">Total</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">12,032,241</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">13,463,445</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">-</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">25,495,686</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

729422

1211696

922987

156000 429598 585598 539328 539328 814369 814369

3162106

1641294

4803400

4025185

13463445

8007056

12032241

13463445

25495686

16. INCOME TAX The Group is incorporated in the Cayman Islands, which does not impose corporate income and capital gains taxes. Accordingly, no provision for income taxes has been recorded in the accompanying consolidated financial statements. As of December 31, 2025, and December 31, 2024, the Company had no unrecognized tax benefits, and no interest or penalties related to uncertain tax positions have been recognized in the consolidated financial statements. The Group is not subject to income taxes in any jurisdiction and, therefore, no deferred tax assets or liabilities have been recognized. The Group evaluates tax positions to determine whether they are more likely than not to be sustained upon examination. The Company’s evaluation as of December 31, 2025, and December 31, 2024 did not result in the recognition of any uncertain tax positions.

17. INVESTMENTS Current Investments On August 4, 2025, the Company entered into a Strategic Advisory and Implementation Agreement with Heritage Distilling Holding Company, Inc. (“IPST”), pursuant to which the Company was entitled to <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250803__20250804__us-gaap--TransactionTypeAxis__custom--StrategicAdvisoryAndImplementationAgreementMember__srt--CounterpartyNameAxis__custom--HeritageDistillingHoldingCompanyIncMember_pd" title="Number of common stock issued">2,000,000 shares of IPST common stock and warrants to purchase <span id="xdx_90E_ecustom--NumberOfWarrantsToPurchase_c20250803__20250804__us-gaap--TransactionTypeAxis__custom--StrategicAdvisoryAndImplementationAgreementMember__srt--CounterpartyNameAxis__custom--HeritageDistillingHoldingCompanyIncMember_pd" title="Number of warrants to purchase">8,000,000 shares at an exercise price of $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20250802__us-gaap--TransactionTypeAxis__custom--StrategicAdvisoryAndImplementationAgreementMember__srt--CounterpartyNameAxis__custom--HeritageDistillingHoldingCompanyIncMember_pd" title="Exercise price">0.01 per share as consideration under the arrangement. The shares were fully vested upon issuance. The warrants have a five-year term and vest subject to time-based and market performance conditions. On August 11, 2025, the Company acquired 6,914,459 shares of IPST common stock for total consideration of $4,178,407. On November 5, 2025, IPST completed a one-for-twenty reverse stock split. All share amounts presented have been adjusted accordingly. The IPST common shares are measured at fair value using quoted market prices (Level 1), and the warrants are measured at fair value using an option pricing model with observable inputs (Level 2). As of December 31, 2025, the carrying value of the Company’s IPST common shares and warrants was $1,124,927. During the year ended December 31, 2025, the Company recognized a loss of $7,168,132 from changes in fair value. The following table summarizes the Group’s IPST common shares and warrants as of December 31, 2025: <table cellpadding="0" cellspacing="0" id="xdx_88E_ecustom--ScheduleOfCommonSharesAndWarrantsTableTextBlock_zfeWvD79oNtj" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENTS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B3_zb817uEcC6q" style="display: none; text-align: left">Schedule of common shares and warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold">Assets</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: center">Units</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Cost Basis ($)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Change in fair value ($)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Ending Balance ($)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Shares receivable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">100,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,080,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(924,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">156,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">400,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,034,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,605,052</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">429,599</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Investment</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">345,722</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">4,178,407</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(3,639,080</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">539,328</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Total</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">845,722</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">8,293,058</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">(7,168,132</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,124,927</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> Non-current Investments As of December 31, 2025, the Group also held $100,000 (December 31, 2024: $100,000) in Simple Agreements for Future Equity (SAFEs) issued by two private companies. These non-current investments are accounted for under ASC Topic 321, Investments—Equity Securities, using the measurement alternative, under which they are carried at cost, adjusted for (i) observable price changes in orderly transactions for identical or similar instruments of the same issuer and (ii) impairments. No observable price changes or impairments were identified during the year. Although these investments are not measured at fair value on a recurring basis, the valuation of such instruments would rely on significant unobservable inputs and therefore would be considered Level 3 within the fair value hierarchy if a fair value measurement were required. In connection with a SAFE entered into with an unrelated private entity, the Company also received a Token Warrant granting the right to acquire a specified number of tokens upon the occurrence of a future Token Generation Event (“TGE”). The warrant represents a derivative instrument under ASC Topic 815, Derivatives and Hedging. As of December 31, 2025, management determined that the warrant’s fair value was $Nil due to the lack of an active token market and the uncertainty surrounding the occurrence and timing of any TGE. Accordingly, no fair value change was recognized in earnings for the years ended December 31, 2025 and 2024. The warrant is classified within Level 3 of the fair value hierarchy.

2000000

8000000

0.01

6914459

4178407

1124927 7168132 <table cellpadding="0" cellspacing="0" id="xdx_88E_ecustom--ScheduleOfCommonSharesAndWarrantsTableTextBlock_zfeWvD79oNtj" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENTS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td id="xdx_8B3_zb817uEcC6q" style="display: none; text-align: left">Schedule of common shares and warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold">Assets</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; font-weight: bold; text-align: center">Units</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font-weight: bold"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Cost Basis ($)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Change in fair value ($)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">Ending Balance ($)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Shares receivable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">100,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,080,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(924,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">156,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">400,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,034,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,605,052</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">429,599</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Investment</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">345,722</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">4,178,407</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(3,639,080</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">539,328</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">Total</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">845,722</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">8,293,058</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">(7,168,132</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: right">1,124,927</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> 100000 1080000 924000 156000 400000 3034651 2605052 429599 345722 4178407 3639080 539328 845722 8293058 7168132 1124927 100000 100000 18. CRYPTO ASSETS AND ASSOCIATED RISKS [a] Cybersecurity Risk With the increased use of technologies to conduct business, the Group is susceptible to operational, crypto assets and related risks. In general, cyber incidents can result from deliberate attacks or unintentional events. Cyber-attacks include but are not limited to third parties gaining unauthorized access to information technology systems (e.g., through “hacking” or malicious software coding) for purposes of misappropriating assets or sensitive information, corrupting data, or causing operational disruption. Cyber-attacks may also be carried out in a manner that does not require gaining unauthorized access, such as causing denial-of-service attacks on websites (attempts to make network services unavailable to the normal intended users). Cyber incidents affecting the Group and its counterparties have the ability to cause disruptions and impact business operations, potentially resulting in interference with the Group’s day-to-day operations. Similar adverse consequences could result from cyber incidents affecting issuers of crypto assets. While the Group has established risk management systems to prevent cyber incidents and business continuity plans in the event of such cyber incidents occurring, there are inherent limitations in such systems and plans including the possibility that certain risks may have not been identified in advance. [b] Political, legal, and/or regulatory risk The legal status of crypto assets may be uncertain. It is unclear whether they constitute property, assets, or rights of any kind. Crypto assets are not backed by governments, and accounts and balances are not subject to any statutory or government protections. Regulation of crypto assets and crypto asset exchanges are currently undeveloped and is likely to rapidly evolve. It is possible that some countries are already considering or may in the future put in place laws, regulations or other actions which may severely impact the Group’s operations. This is particularly the case as crypto assets have grown in popularity and market size. New or changing laws and regulations may have an impact on the Group’s future operations. [c] Development of crypto assets and associated risks The growth of the crypto asset industry in general, as well as crypto asset networks is subject to a high degree of uncertainty. The factors affecting such growth include (i) worldwide growth in the adoption and use of crypto asset technologies, (ii) government and quasi-government regulation of crypto assets and their use or restrictions on or regulation of access to and operation of crypto Asset networks or similar systems, (iii) the maintenance and development of the open-source software protocol(s) of the crypto asset networks, (iv) changes in consumer demographics and public tastes and preferences, (v) the availability and popularity of other forms or methods of buying and selling goods and services or trading assets including new means of using fiat currencies or existing networks, (vi) general economic conditions and the regulatory environment relating to crypto currencies, or (vii) a decline in the popularity or acceptance of the crypto asset networks. The slowing or stopping of the development or acceptance of the crypto asset networks could have an impact on the Group’s future operations. [d] Counterparty and custodian wallet risk Having crypto assets on deposit or with any third party in a custodial relationship has attendant risks. These risks include potential for security breaches, risk of contractual breach, and risk of loss. The Group may have a high concentration of its crypto assets in one location or with one third party custody provider, which may be prone to losses arising out of hacking, loss of passwords, compromised access credentials, malware, comprised private keys, unauthorized access to private key, or cyber-attacks. The Group maintains custody of the unique private keys for all of its customer crypto assets. Such unique private keys control the movement and access of the crypto assets. The Group is responsible for taking such steps as it determines to be required to maintain access to these keys, and prevent exposure from hacking, malware, and general security threats. The theft, loss or destruction of a private key is irreversible and could result in substantial or total loss of crypto assets. The Group has controls in place to mitigate against the risk of unauthorized access to or loss of customer assets within the Group’s self-custodied wallets held on behalf of customers. [e] Risk of loss of private key(s) Crypto assets are controllable only by the possessor of unique private keys relating to the addresses in which the crypto assets are held. The theft, loss or destruction of a private key required to access a crypto asset is irreversible, and such private keys would not be capable of being restored by the Group. Any loss of private keys relating to crypto wallets used to store the Group's crypto assets (including customer assets) could result in the loss of these crypto assets and customers and other stakeholders could incur substantial, or even total loss. The Group is responsible for taking such steps as it determines, in its sole judgment, to be required to maintain access to these private keys, and prevent their exposure from hacking, malware and general security threats. To the extent that the security system is penetrated, any loss of crypto assets may adversely affect a stakeholder’s interest in the Group, including customers. [f] Risks relating to irrevocable crypto asset transactions The blockchain creates a permanent, public record of crypto asset transactions but it also creates an irrevocable one. Transactions that have been verified, and thus recorded within a block on the blockchain, generally cannot be undone. Even if the transaction turns out to have been in error, or due to theft of a user's crypto assets, the transaction is not reversible. Further, at this time, there is no governmental, regulatory, investigative, or prosecutorial authority or mechanism through which to bring an action or complaint regarding missing or stolen Crypto assets. Consequently, the Group may be unable to replace missing crypto assets or seek reimbursement for any erroneous transfer or theft of crypto assets. [g] Dependence on key personnel The performance of the Group will be substantially dependent on the expertise of the senior management, its principals, and employees. In particular, the loss for any reason of the key individuals who will be primarily responsible for managing the Group may have a materially adverse effect on the performance of the Group. [h] Risks relating to crypto asset price volatility A key risk in trading crypto assets is the rapid fluctuation of their market price. Crypto assets have demonstrated significant volatility. The price of crypto assets may be affected by a wide variety of complex and difficult to predict factors such as crypto asset supply and demand; rewards and transaction fees for the recording of transactions on the blockchain; difficulties with converting crypto asset to fiat currencies; availability and access to crypto asset service providers (such as payment processors), exchanges, miners or other crypto asset users and market participants; perceived or actual crypto asset network or crypto asset vulnerability; inflation levels; fiscal policy; interest rates; and political, regulatory natural and economic events. [i] Illiquidity The crypto asset marketplace may be illiquid, insufficiently liquid or highly volatile from time to time, and may shift quickly.

19. SUBSEQUENT EVENTS Proposed Merger Transaction On February 11, 2026, the Company entered into a definitive merger agreement with VerifyMe, Inc. (“VerifyMe”), a publicly traded company listed on Nasdaq, pursuant to which VerifyMe will acquire OpenWorld through a merger transaction. Upon closing, OpenWorld’s shareholders are expected to own approximately 90% of the combined company and VerifyMe’s legacy stockholders approximately 10%, on a fully diluted basis. The board of the combined company is expected to consist of seven directors, with six appointed by OpenWorld and one appointed by VerifyMe. The proposed transaction is expected to establish a public market platform for OpenWorld’s digital asset and real-world asset tokenization strategy, enabling broader access to capital markets and enhancing the Company’s ability to scale its integrated platform, asset management offerings. Management anticipates that the combined company will be positioned to drive incremental revenue opportunities through the alignment of OpenWorld’s platform capabilities with its expanding ecosystem of strategic partnerships and initiatives. The transaction is subject to customary closing conditions, including VerifyMe maintaining a minimum cash balance of $1,000,000 at closing. A termination fee of $400,000 is payable under certain circumstances. The transaction had not closed as of the date these financial statements were issued. Loans Payable On January 5, 2026, the Company entered into a loan agreement with Webslinger Holdings Inc., a significant shareholder of the Company, pursuant to which the lender agreed to provide financing of up to $750,000. The loan bears interest at a rate of 5% per annum. The original maturity date of April 5, 2026 was subsequently extended by approximately 60 days. Funds were received on January 16, 2026. The Company may prepay the loan, in whole or in part, at any time without penalty. Management believes the arrangement aligns with the Company’s broader capital strategy and supports continued execution of its platform development and strategic partnerships. The Company evaluated this transaction as a non-recognized subsequent event in accordance with ASC Topic 855, Subsequent Events, and accordingly, no amounts related to this loan have been recorded in the accompanying financial statements. Strategic Partnership On January 20, 2026, the Company entered into a strategic partnership agreement with mCloud Technologies Saudi Arabia, an entity affiliated with the Company’s President, to support the development of a regional platform focused on real-world asset tokenization initiatives in the Kingdom of Saudi Arabia. The arrangement establishes a framework for collaboration on technology development, marketing, and commercial activities and is expected to support the Company’s expansion into the Middle East market. In connection with the partnership, the Company may provide financing through a convertible promissory note and participate in revenue sharing arrangements, subject to the execution of definitive agreements and satisfaction of certain conditions. Management believes the partnership aligns with the Company’s broader platform strategy and may contribute to future revenue opportunities through integration with its digital asset and real-world asset tokenization initiatives. The Company evaluated this arrangement as a non-recognized subsequent event in accordance with ASC Topic 855, Subsequent Events, and accordingly, no amounts have been recorded in the accompanying financial statements. SAFE Financing In March 2026, the Company commenced its strategic fundraising initiatives through the issuance of Simple Agreements for Future Equity (“SAFEs”) with certain investors and has received gross proceeds of approximately $<span id="xdx_90F_eus-gaap--ProceedsFromLoans_c20260301__20260331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--CounterpartyNameAxis__custom--SAFEsMember_pp0p" title="Gross proceeds from loan">350,000. Management believes these strategic investors will be additive not only in capital to support the continued development of the Company’s platform and strategic partnerships and positions the Company to pursue additional growth opportunities. The SAFEs will convert into shares of the Company’s preferred stock upon the occurrence of a qualified equity financing, subject to a valuation cap of $150,000,000. The SAFEs do not bear interest and have no maturity date. The Company evaluated this transaction as a non-recognized subsequent event in accordance with ASC Topic 855, Subsequent Events, and has not recorded any amounts related to the SAFE financing in the accompanying financial statements. Consulting Agreement On March 25, 2026, the Company entered into a consulting agreement with a third party pursuant to which the consultant will provide advisory services to the Company. The agreement includes monthly cash compensation and potential additional compensation, including equity-based incentives. In connection with the agreement, the Company may grant up to <span id="xdx_901_ecustom--NumberOfWarrantsToPurchase_c20260301__20260331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TransactionTypeAxis__custom--ConsultingAgreementMember_pd" title="Number of warrants to purchase">1,000,000 warrants to purchase shares of the Company’s common stock (or its publicly traded parent entity). However, such warrants had not been issued or outstanding as of December 31, 2025 and remain contingent upon the successful completion of a proposed reverse takeover transaction. The Company will evaluate any warrants issued under ASC Topic 815-40, Derivatives and Hedging, at the time of issuance to determine the appropriate classification as either equity or liability instruments. If issued and classified as equity, the warrants would be recorded at fair value within additional paid-in capital and would not be subsequently remeasured. The Company has evaluated this event in accordance with ASC Topic 855, Subsequent Events, and determined that it represents a non-recognized subsequent event as it relates to conditions arising after December 31, 2025. Accordingly, no amounts have been recorded in the accompanying consolidated financial statements.

1000000

400000

Company entered into a loan agreement with Webslinger Holdings Inc., a significant shareholder of the Company, pursuant to which the lender agreed to provide financing of up to $750,000. The loan bears interest at a rate of 5% per annum. The original maturity date of April 5, 2026 was subsequently extended by approximately 60 days. Funds were received on January 16, 2026. The Company may prepay the loan, in whole or in part, at any time without penalty.

350000

1000000 Includes share-based compensation of $801 thousand for the year ended December 31, 2025, and $1,555 thousand for the year ended December 31, 2024. Included within "Unbilled revenue" on the accompanying Consolidated Balance Sheets. The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock for options that were in-the-money at each respective period. The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying warrants and the closing stock price of $0.60 for our common stock on December 31, 2025.