| Schedule of Operating Segment |
The following table presents the significant revenue and expense categories of the Company’s single operating segment:
| | |
Year Ended December 31, | |
| | |
2025 | | |
2024 | |
| | |
| | |
| |
| Revenues | |
$ | 1,742,360 | | |
$ | 9,261,583 | |
| Less: | |
| | | |
| | |
| Cost of revenues | |
| 2,193,398 | | |
| 12,066,778 | |
| Operating expenses: | |
| | | |
| | |
| Salary and benefits expenses | |
| 1,152,382 | | |
| 1,883,893 | |
| Professional fees | |
| 1,718,323 | | |
| 2,320,041 | |
| Stock-based compensation | |
| 339,063 | | |
| 1,413,458 | |
| Other selling, general and administrative | |
| 1,673,364 | | |
| 1,516,728 | |
| Provision for credit losses | |
| 1,818,151 | | |
| 408,569 | |
| Other expenses (income): | |
| | | |
| | |
| Interest expense, net | |
| 3,375,272 | | |
| 2,301,600 | |
| Non cash finance expense | |
| 200,000 | | |
| 1,000,000 | |
| (Gain) loss on loan extinguishment | |
| (67,183 | ) | |
| 8,417 | |
| Income taxes | |
| 1,700 | | |
| 5,100 | |
| Other segment expense (income) | |
| 1,324,644 | | |
| (9,661 | ) |
| Net loss | |
$ | (11,986,754 | ) | |
$ | (13,653,340 | ) |
|