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<p id="xdx_80F_eus-gaap--BusinessDescriptionAndBasisOfPresentationTextBlock_zV7JhKxCGqPc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: left; text-indent: -0.5in">Note 1 – Organization and Business Operations Business Description SHF Holdings, Inc. (the “Company” or “SHF”) is a Delaware corporation headquartered in Golden, Colorado, whose Class A Common Stock (“Common Stock”) is listed on the Nasdaq Capital Market under the ticker symbol “SHFS.” The Company was founded in 2015 by Partner Colorado Credit Union (“PCCU”) and was among the first financial services companies to provide compliant banking services to Cannabis Related Businesses (“CRBs”). SHF’s mission is to provide reliable and compliant financial services to the legal cannabis, hemp, and related industries by enabling its financial institution (“FI”) customers to deliver compliance-driven banking, lending, and other financial services to CRB clients. The Company operates a proprietary fintech platform across 41 states and territories in the United States. Through this platform, SHF enables its FI customers to compliantly offer the following banking-related services to CRBs: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"><td style="width: 2%">●</td> <td style="width: 34%">Business checking and savings accounts;</td> <td style="width: 1%"> </td> <td style="width: 2%">●</td> <td style="text-align: justify; width: 29%">Cash management accounts</td> <td style="width: 1%"> </td> <td style="width: 2%">●</td> <td style="text-align: justify; width: 29%">Savings and investment options</td></tr> <tr style="vertical-align: top; text-align: left"> <td> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: justify"> </td> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; text-align: left"> <td>●</td> <td>Commercial lending</td> <td> </td> <td>●</td> <td style="text-align: justify">Courier services (via third-party relationships)</td> <td> </td> <td>●</td> <td style="text-align: justify">Remote deposit services</td></tr> <tr style="vertical-align: top; text-align: left"> <td> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: justify"> </td> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; text-align: left"> <td>●</td> <td>Automated Clearing House (“ACH”) payments and origination</td> <td> </td> <td>●</td> <td style="text-align: justify">Wire payments.</td> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> </table> Because many CRBs have historically operated on a largely cash basis due to limited access to traditional banking services, SHF’s platform benefits both CRBs and financial institutions. CRBs gain access to compliant banking services, while financial institutions gain access to a validated, compliantly monitored deposit base. The Company generates revenue primarily from compliance service fees, account based fee income, investment income on custodied deposits, and interest income on loans made to or on behalf of financial institutions serving the cannabis industry.

<p id="xdx_80E_eus-gaap--SignificantAccountingPoliciesTextBlock_z1HvU90zmV6k" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: -0.5in">Note 2 – Basis of Presentation and Summary of Significant Accounting Policies Significant Accounting Policies Basis of Presentation and Consolidation The accompanying consolidated financial statements have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of SHF Holdings, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements reflect all adjustments that, in the opinion of management, are necessary for a fair presentation of the Company’s financial condition and results of operations for the periods presented. In connection with the preparation of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, management identified conditions that raised substantial doubt about the Company’s ability to continue as a going concern. Those conditions included recurring operating losses, a net loss of approximately $48.3 million (inclusive of significant non-cash charges), limited liquidity relative to near-term obligations, and uncertainty regarding the Company’s ability to satisfy its then-existing indemnification obligations under its Commercial Alliance Agreement (“CAA”) with PCCU. Liquidity and Going Concern Liquidity refers to our ability to meet anticipated cash demands, including servicing debt, funding operations, maintaining assets, and covering other routine business expenses. Our primary cash outflows include debt principal and interest repayments, operating costs, and general business expenditures. The main source of our liquidity continues to be cash inflows generated from operational performance. As of December 31, 2025, the Company does not have significant capital investment commitments. Under Accounting Standards Codification (“ASC”) 205-40, Presentation of Financial Statements, Going Concern, the Company is responsible for evaluating whether conditions or events raise substantial doubt about its ability to meet future financial obligations within one year of the financial statement issuance date. This evaluation involves two steps: (1) assessing whether conditions or events raise substantial doubt about the Company’s ability to continue as a going concern, and (2) if substantial doubt is raised, evaluating whether the Company has plans to mitigate that doubt. Disclosures are required if substantial doubt exists or if the Company’s plans alleviate the doubt. As of December 31, 2025, the Company has cash and cash equivalents of $6.8 million and net working capital of $5.7 million. The Company has incurred recurring losses from operations and experienced negative cash flows from operations, including an operating loss of $5.4 million and cash used in operating activities of $3.4 million for the year ended December 31, 2025. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of at least twelve months from the date these consolidated financial statements are issued. As of December 31, 2025, management believes our cash and cash equivalents is sufficient enough to meet our financial obligations for the next twelve months. Management has developed and implemented a series of measures intended to preserve liquidity and support the Company’s ability to meet its obligations during the look-forward period. Strengthened Revenue Profile. The Second Amended CAA increased the Company’s share of loan program income from approximately 35% to 65% of the PCCU’s loan portfolio. This agreement improves the recurring revenue profile of the Company’s core business on a prospective basis. Additionally, the Company is exploring strategic partnerships with other financial institutions. Access to Additional Capital. The Company has entered into a $150 million Equity Line of Credit, providing contingent access to additional capital subject to customary conditions. Expense Management. Management has identified and quantified specific, actionable cost reductions that are within its direct operational control and that it would implement should operating conditions deteriorate below base-case expectations. Cash Flow Monitoring. Management maintains a 52-week rolling cash flow projection that tracks anticipated expenses, revenues, and ending cash balances against budget. Cash positions are reviewed on a bi-weekly basis to ensure the Company maintains adequate liquidity to fund operations. Notwithstanding the measures described above, the Company continues to incur operating losses and negative cash flows from operations, and uncertainty remains as to whether these conditions will be fully resolved within the look-forward period. As a result, management has concluded that substantial doubt exists about the Company’s ability to continue as a going concern for a period of at least twelve months from the date these consolidated financial statements are issued. The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These financial statements do not include any adjustments that might result from the outcome of this uncertainty. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Material estimates particularly subject to change in the near term include the financial indemnification liability, valuation allowance for deferred tax assets and the fair value of financial instruments including warrant liabilities. Actual results could differ from those estimates. Reverse Stock Split The Company effected a reverse stock split of 1-for-20 on March 14, 2025. Unless otherwise stated, all share and per share amounts for all periods presented have been adjusted to reflect the reverse stock split. Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, balances due from financial institutions, and investments with original maturities of three months or less. Revenue Recognition The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Revenue is recognized when control of promised services is transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services, following the five-step model under ASC 606. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Account Fee Income The Company earns fees for compliance services provided to financial institution customers, including account onboarding fees, account maintenance fees, transaction processing fees, and other account activity fees. These fees are recognized at the point in time when the performance obligation is satisfied and no contingencies exist.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Investment Income The Company earns investment income based on interest earned on daily average deposit balances maintained by CRBs at financial institution customers. This income is recognized as earned over the applicable period.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Loan Program Income Revenue from loan program income is recognized over the loan period as earned. Under the Commercial Alliance Agreement with PCCU, as amended (the “Amended CAA”), the Company’s share of loan interest income is determined by a loan yield allocation formula and recognized as earned.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Master Program Agreement Revenue The Company licenses its proprietary Safe Harbor Program to financial institutions under a Master Program Agreement, which grants a non-exclusive, non-transferable right to use the platform. Revenue under these agreements is recognized over the term of the arrangement as services are provided.</td></tr></table> <p id="xdx_84D_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zYDiPMVKN61g" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left">Stock-Based Compensation The Company measures all equity-based payment arrangements to employees, directors, and non-employee consultants in accordance with ASC 718, Compensation - Stock Compensation. The grant-date fair value of stock-based awards is determined using either the quoted market price of the Company’s Common Stock or the Black-Scholes option valuation model, as appropriate for the instrument type. Compensation cost for service-based awards is recognized on a straight-line basis over the requisite service period. For performance-based awards, compensation cost is recognized when it becomes probable that the performance condition will be achieved. Forfeitures are recognized as they occur. For non-employee awards settled in equity including Series B Convertible Preferred Stock and warrants issued to consultants, the Company measures the fair value at the grant date and recognizes the cost over the service period. Where awards are partially vested at issuance, the vested fair value is recorded as a prepaid asset and amortized to expense over the remaining service period. The Black-Scholes option model incorporates the following assumptions: expected term (using the simplified method as the average of contractual term and vesting period); expected stock price volatility (based on the Company’s historical stock price); risk-free interest rate (based on U.S. Treasury rates for maturities approximating expected lives); and expected dividend yield of zero (as the Company has not paid dividends and does not anticipate doing so in the foreseeable future). Changes in assumptions used to estimate fair value could result in materially different results. Convertible Debt and Original Issue Discount The Company accounts for convertible debt instruments under ASC 470-20, Debt with Conversion and Other Options. Debt issuance costs and original issue discounts are recorded as a direct reduction to the carrying amount of the related debt instrument and amortized to interest expense over the contractual term using the effective interest method in accordance with ASC 835-30. <p id="xdx_843_ecustom--WarrantLiabilitiesAndDerivativeInstrumentsPolicyTextBlock_zbrtV6A6F1C8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left">Warrant Liabilities and Derivative Instruments The Company evaluates all financial instruments, including warrants and conversion features, at issuance to determine whether they should be classified as equity or liabilities under ASC 815-40, Derivatives and Hedging - Contracts in an Entity’s Own Equity, and ASC 480, Distinguishing Liabilities from Equity. Warrants that do not meet the criteria for equity classification are recorded as liabilities at fair value on the date of issuance. These warrant liabilities are remeasured at fair value at each subsequent reporting date, with changes in fair value recognized in the consolidated statements of operations. Warrants are valued using the Black-Scholes-Merton model. <p id="xdx_84B_ecustom--PreferredStockClassificationAndMeasurementPolicyTextBlock_zDAg7RU3D70k" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left">Preferred Stock - Classification and Measurement The Company evaluates preferred stock instruments under ASC 480 and ASC 815-40 to determine the appropriate classification between liabilities, mezzanine equity, and permanent equity. Extinguishment of Liabilities When a financial liability is extinguished through the issuance of equity instruments, the Company accounts for the transaction under ASC 405-20, Liabilities - Extinguishments of Liabilities, and ASC 470-50, Debt - Modifications and Extinguishments. The equity instruments issued are measured at fair value, and any difference between the carrying amount of the extinguished liability and the fair value of the equity issued is recognized as a gain or loss on extinguishment in the consolidated statements of operations. Fair Value Measurements The Company utilizes the fair value hierarchy to apply fair value measurements. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair values that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. The basis for fair value measurements for each level within the hierarchy is described below: Level 1: Quoted prices for identical assets or liabilities in active markets. Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3: Valuations derived from techniques in which one or more significant inputs are unobservable. Segment Reporting The Company operates as one reportable segment providing financial services and banking solutions to CRBs under ASC 280, Segment Reporting. The chief operating decision maker, the Company’s Chief Executive Officer, reviews financial information on a consolidated basis when allocating resources and assessing performance. Financial Assets Measured at Amortized Cost For financial assets within the scope of ASC 326, the Company measures the allowance for credit losses based on relevant information about past events, current conditions, and reasonable and supportable forecasts of future economic conditions that affect the collectability of the reported amounts. The allowance is deducted from the amortized cost basis of the financial asset on the consolidated balance sheet, and the net amount represents management’s best estimate of the cash flows expected to be collected. Changes in the allowance for credit losses are recognized as credit loss expense or reversal in the consolidated statements of operations. The Company considers the following factors, among others, in estimating expected credit losses: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Historical loss experience and default rates for instruments with similar risk characteristics;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The creditworthiness and financial condition of the counterparty;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Current and forecasted macroeconomic conditions over the reasonable and supportable forecast period, reverting to historical averages beyond that period; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Collateral arrangements, recourse provisions, and other credit enhancements.</td></tr> </table> Financial assets are written off against the allowance when management determines that the asset is uncollectible and all reasonable collection efforts have been exhausted. Subsequent recoveries, if any, are credited to the allowance for credit losses. Contract Asset The contract asset recognized in connection with the Second Amended CAA with PCCU are not financial asset within the scope of ASC 326. This asset represent costs incurred to fulfill the contract specifically, the cost of assuming the stand-ready guarantee obligation (ASC 460) and the contingent indemnification exposure (ASC 326). The contract asset is amortized on a systematic and rational basis over the contract term consistent with the release of the underlying guarantee exposure. Contract asset are evaluated for impairment under ASC 340-40-35-2 when facts and circumstances indicate the carrying amount may not be recoverable; any impairment is recognized in the period identified and may not be subsequently reversed. Stand Ready Guarantees – ASC 460 The Company accounts for financial guarantees in accordance with ASC 460, Guarantees. At the inception of a guarantee, the Company recognizes a liability equal to the fair value of the stand-ready obligation assumed. This non-contingent liability represents the value of the obligation undertaken by the Company to stand ready to perform under the guarantee, irrespective of the likelihood that a payment will actually be required. Subsequent to initial recognition, the stand-ready liability is amortized over the contractual term of the guarantee on a systematic basis that reflects the Company’s release from risk. If, at any reporting date, a contingent loss accrual required under ASC 450, Contingencies, exceeds the unamortized ASC 460 carrying amount, the Company records the higher contingent loss estimate in accordance with that guidance. Financial Indemnification Liabilities Under ASC 326-20, the Company recognizes a financial indemnification liability for its indemnification obligation to PCCU under the Second Amended CAA. This liability represents the Company’s up to 65% share of the lifetime expected credit losses on the covered CRB loan portfolio, measured on a probability-weighted basis and updated each reporting period to reflect current conditions and reasonable and supportable forecasts of future economic conditions. The financial indemnification liability methodology considers historical loss experience, borrower-specific credit quality, collateral values, and forward-looking economic assumptions including conditions specific to the cannabis industry. The financial indemnification liability is measured independently from, and recognized in addition to, the ASC 460 stand-ready guarantee liability. The two liabilities coexist separately on the consolidated balance sheet and do not offset or true up to each other. The ASC 460 liability is fixed at inception and released over the guarantee term, while the financial indemnification liability is dynamic and remeasured each quarter. Changes in the financial indemnification liability are recognized as credit loss expense or credit loss income in the consolidated statements of operations in the period of remeasurement. Concentration of Risk The Company’s revenues are concentrated in the United States with a single customer, PCCU, which represented the substantial majority of revenues for the years ended December 31, 2025 and 2024 (see Note 10). Substantially all CRB client deposits are maintained at PCCU, and all fund transmissions to and from those deposit accounts are handled directly by PCCU. Financial instruments that potentially subject the Company to concentrations of credit risk consist accounts receivable and cash accounts maintained at financial institutions. At times, account balances may exceed the Federal Deposit Insurance Corporation (“FDIC”) coverage limit of $0.3 million. As of December 31, 2025 and December 31, 2024, the Company had approximately $6.5 million and $2.0 million, respectively, in excess of FDIC coverage. Additionally, amounts due from PCCU represented approximately <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--TypeOfArrangementAxis__custom--CommercialAllianceAgreementMember_zhKsHc8JdiEb">97.0% and <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--TypeOfArrangementAxis__custom--CommercialAllianceAgreementMember_ztWKOPTaLMY1">87.8% of total accounts receivable as of December 31, 2025 and December 31, 2024, respectively, with balances of approximately $1.0 million at each date. The Company has not experienced losses on these accounts or receivables, and management does not believe the Company is exposed to significant credit risk on such accounts. <p id="xdx_841_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zXUqRTjTi6fb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left">Recently Issued Accounting Standards Standards Adopted in 2025 ASU 2023-09 - Income Taxes (Topic 740): In December 2023, the FASB issued ASU 2023-09, which requires additional disaggregated disclosures in the income tax rate reconciliation and disclosures of income taxes paid by jurisdiction. The standard is effective for annual periods beginning after December 15, 2024. The Company adopted this standard prospectively as of January 1, 2025. Adoption did not have a material impact on the Company’s financial statements. This is reported on a prospective basis. ASU 2024-02 - Codification Improvements: In March 2024, the FASB issued ASU 2024-02, which removes references to the FASB Concepts Statements from the Codification. The standard is effective for public entities for years beginning after December 15, 2024. The Company adopted this standard prospectively as of January 1, 2025. Adoption did not have a material impact on the Company’s financial statements. ASU 2024-01 – Compensation - Stock Compensation (Topic 718): Profits Interest and Similar Awards: In March 2024, the FASB issued ASU 2024-01, which clarifies whether profits interest and similar awards are subject to ASC 718. The standard is effective for years beginning after December 15, 2024. The Company adopted this standard prospectively as of January 1, 2025. Adoption did not have a material impact on the Company’s financial statements. Standards Not Yet Adopted ASU 2024-03 / ASU 2025-01 - Disaggregation of Income Statement Expenses (Subtopic 220-40): In November 2024, the FASB issued ASU 2024-03, subsequently clarified by ASU 2025-01 (January 2025), requiring entities to disaggregate certain income statement expense line items in the footnotes, including purchases of inventory, employee compensation, depreciation, and amortization. The standard is effective for annual periods beginning after December 15, 2026, and interim periods within annual periods beginning after December 15, 2027. Early adoption is permitted. The Company plans to adopt prospectively and does not anticipate a material impact on its financial reporting. ASU 2024-04 – Debt - Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions: In November 2024, the FASB issued ASU 2024-04, which clarifies the accounting for induced conversions of convertible debt. The standard is effective for annual periods beginning after December 15, 2025. The Company plans to adopt prospectively and does not anticipate a material impact on its financial reporting. ASU 2025-05 - Financial Instruments - Credit Losses (Topic 326): Accounts Receivable and Contract Assets: In July 2025, the FASB issued ASU 2025-05, which provides a practical expedient allowing entities to assume current credit conditions remain unchanged for the remaining life of current accounts receivable and current contract assets under ASC 606. The standard is effective for years beginning after December 15, 2025. The Company is currently evaluating the potential impact on its consolidated financial statements. ASU 2025-08 - Financial Instruments - Credit Losses (Topic 326): Purchased Loans: In December 2025, the FASB issued ASU 2025-08, which expands the population of acquired financial assets subject to the gross-up approach for recognizing credit losses at acquisition. The standard introduces the concept of “purchased seasoned loans” and requires acquired loans (other than credit cards) that have not experienced significant credit deterioration since origination to follow the gross-up approach. The amendments are effective for annual periods beginning after December 15, 2026. Due to the Company’s Second Amended CAA with PCCU, management believes this standard may have a material impact on the Company’s financial statements upon adoption. The Company is currently evaluating the scope and magnitude of that impact. The Company will continue to monitor the development of accounting standards and intends to adopt them in accordance with their respective effective dates. Additional disclosures will be provided in future filings as the Company completes its assessment.

Significant Accounting Policies

Basis of Presentation and Consolidation The accompanying consolidated financial statements have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of SHF Holdings, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements reflect all adjustments that, in the opinion of management, are necessary for a fair presentation of the Company’s financial condition and results of operations for the periods presented. In connection with the preparation of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, management identified conditions that raised substantial doubt about the Company’s ability to continue as a going concern. Those conditions included recurring operating losses, a net loss of approximately $48.3 million (inclusive of significant non-cash charges), limited liquidity relative to near-term obligations, and uncertainty regarding the Company’s ability to satisfy its then-existing indemnification obligations under its Commercial Alliance Agreement (“CAA”) with PCCU.

48300000 Liquidity and Going Concern Liquidity refers to our ability to meet anticipated cash demands, including servicing debt, funding operations, maintaining assets, and covering other routine business expenses. Our primary cash outflows include debt principal and interest repayments, operating costs, and general business expenditures. The main source of our liquidity continues to be cash inflows generated from operational performance. As of December 31, 2025, the Company does not have significant capital investment commitments. Under Accounting Standards Codification (“ASC”) 205-40, Presentation of Financial Statements, Going Concern, the Company is responsible for evaluating whether conditions or events raise substantial doubt about its ability to meet future financial obligations within one year of the financial statement issuance date. This evaluation involves two steps: (1) assessing whether conditions or events raise substantial doubt about the Company’s ability to continue as a going concern, and (2) if substantial doubt is raised, evaluating whether the Company has plans to mitigate that doubt. Disclosures are required if substantial doubt exists or if the Company’s plans alleviate the doubt. As of December 31, 2025, the Company has cash and cash equivalents of $6.8 million and net working capital of $5.7 million. The Company has incurred recurring losses from operations and experienced negative cash flows from operations, including an operating loss of $5.4 million and cash used in operating activities of $3.4 million for the year ended December 31, 2025. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of at least twelve months from the date these consolidated financial statements are issued. As of December 31, 2025, management believes our cash and cash equivalents is sufficient enough to meet our financial obligations for the next twelve months. Management has developed and implemented a series of measures intended to preserve liquidity and support the Company’s ability to meet its obligations during the look-forward period. Strengthened Revenue Profile. The Second Amended CAA increased the Company’s share of loan program income from approximately 35% to 65% of the PCCU’s loan portfolio. This agreement improves the recurring revenue profile of the Company’s core business on a prospective basis. Additionally, the Company is exploring strategic partnerships with other financial institutions. Access to Additional Capital. The Company has entered into a $150 million Equity Line of Credit, providing contingent access to additional capital subject to customary conditions. Expense Management. Management has identified and quantified specific, actionable cost reductions that are within its direct operational control and that it would implement should operating conditions deteriorate below base-case expectations. Cash Flow Monitoring. Management maintains a 52-week rolling cash flow projection that tracks anticipated expenses, revenues, and ending cash balances against budget. Cash positions are reviewed on a bi-weekly basis to ensure the Company maintains adequate liquidity to fund operations. Notwithstanding the measures described above, the Company continues to incur operating losses and negative cash flows from operations, and uncertainty remains as to whether these conditions will be fully resolved within the look-forward period. As a result, management has concluded that substantial doubt exists about the Company’s ability to continue as a going concern for a period of at least twelve months from the date these consolidated financial statements are issued. The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.

6800000

5700000

-5400000

-3400000

0.35

0.65

150000000

Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Material estimates particularly subject to change in the near term include the financial indemnification liability, valuation allowance for deferred tax assets and the fair value of financial instruments including warrant liabilities. Actual results could differ from those estimates.

Reverse Stock Split The Company effected a reverse stock split of 1-for-20 on March 14, 2025. Unless otherwise stated, all share and per share amounts for all periods presented have been adjusted to reflect the reverse stock split.

1-for-20

Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, balances due from financial institutions, and investments with original maturities of three months or less.

Revenue Recognition The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Revenue is recognized when control of promised services is transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services, following the five-step model under ASC 606. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Account Fee Income The Company earns fees for compliance services provided to financial institution customers, including account onboarding fees, account maintenance fees, transaction processing fees, and other account activity fees. These fees are recognized at the point in time when the performance obligation is satisfied and no contingencies exist.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Investment Income The Company earns investment income based on interest earned on daily average deposit balances maintained by CRBs at financial institution customers. This income is recognized as earned over the applicable period.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Loan Program Income Revenue from loan program income is recognized over the loan period as earned. Under the Commercial Alliance Agreement with PCCU, as amended (the “Amended CAA”), the Company’s share of loan interest income is determined by a loan yield allocation formula and recognized as earned.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Master Program Agreement Revenue The Company licenses its proprietary Safe Harbor Program to financial institutions under a Master Program Agreement, which grants a non-exclusive, non-transferable right to use the platform. Revenue under these agreements is recognized over the term of the arrangement as services are provided.</td></tr></table>

<p id="xdx_84D_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zYDiPMVKN61g" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left">Stock-Based Compensation The Company measures all equity-based payment arrangements to employees, directors, and non-employee consultants in accordance with ASC 718, Compensation - Stock Compensation. The grant-date fair value of stock-based awards is determined using either the quoted market price of the Company’s Common Stock or the Black-Scholes option valuation model, as appropriate for the instrument type. Compensation cost for service-based awards is recognized on a straight-line basis over the requisite service period. For performance-based awards, compensation cost is recognized when it becomes probable that the performance condition will be achieved. Forfeitures are recognized as they occur. For non-employee awards settled in equity including Series B Convertible Preferred Stock and warrants issued to consultants, the Company measures the fair value at the grant date and recognizes the cost over the service period. Where awards are partially vested at issuance, the vested fair value is recorded as a prepaid asset and amortized to expense over the remaining service period. The Black-Scholes option model incorporates the following assumptions: expected term (using the simplified method as the average of contractual term and vesting period); expected stock price volatility (based on the Company’s historical stock price); risk-free interest rate (based on U.S. Treasury rates for maturities approximating expected lives); and expected dividend yield of zero (as the Company has not paid dividends and does not anticipate doing so in the foreseeable future). Changes in assumptions used to estimate fair value could result in materially different results.

Convertible Debt and Original Issue Discount The Company accounts for convertible debt instruments under ASC 470-20, Debt with Conversion and Other Options. Debt issuance costs and original issue discounts are recorded as a direct reduction to the carrying amount of the related debt instrument and amortized to interest expense over the contractual term using the effective interest method in accordance with ASC 835-30.

<p id="xdx_843_ecustom--WarrantLiabilitiesAndDerivativeInstrumentsPolicyTextBlock_zbrtV6A6F1C8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left">Warrant Liabilities and Derivative Instruments The Company evaluates all financial instruments, including warrants and conversion features, at issuance to determine whether they should be classified as equity or liabilities under ASC 815-40, Derivatives and Hedging - Contracts in an Entity’s Own Equity, and ASC 480, Distinguishing Liabilities from Equity. Warrants that do not meet the criteria for equity classification are recorded as liabilities at fair value on the date of issuance. These warrant liabilities are remeasured at fair value at each subsequent reporting date, with changes in fair value recognized in the consolidated statements of operations. Warrants are valued using the Black-Scholes-Merton model. <p id="xdx_84B_ecustom--PreferredStockClassificationAndMeasurementPolicyTextBlock_zDAg7RU3D70k" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left">Preferred Stock - Classification and Measurement The Company evaluates preferred stock instruments under ASC 480 and ASC 815-40 to determine the appropriate classification between liabilities, mezzanine equity, and permanent equity. Extinguishment of Liabilities When a financial liability is extinguished through the issuance of equity instruments, the Company accounts for the transaction under ASC 405-20, Liabilities - Extinguishments of Liabilities, and ASC 470-50, Debt - Modifications and Extinguishments. The equity instruments issued are measured at fair value, and any difference between the carrying amount of the extinguished liability and the fair value of the equity issued is recognized as a gain or loss on extinguishment in the consolidated statements of operations.

Fair Value Measurements The Company utilizes the fair value hierarchy to apply fair value measurements. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair values that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. The basis for fair value measurements for each level within the hierarchy is described below: Level 1: Quoted prices for identical assets or liabilities in active markets. Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3: Valuations derived from techniques in which one or more significant inputs are unobservable.

Segment Reporting The Company operates as one reportable segment providing financial services and banking solutions to CRBs under ASC 280, Segment Reporting. The chief operating decision maker, the Company’s Chief Executive Officer, reviews financial information on a consolidated basis when allocating resources and assessing performance.

Financial Assets Measured at Amortized Cost For financial assets within the scope of ASC 326, the Company measures the allowance for credit losses based on relevant information about past events, current conditions, and reasonable and supportable forecasts of future economic conditions that affect the collectability of the reported amounts. The allowance is deducted from the amortized cost basis of the financial asset on the consolidated balance sheet, and the net amount represents management’s best estimate of the cash flows expected to be collected. Changes in the allowance for credit losses are recognized as credit loss expense or reversal in the consolidated statements of operations. The Company considers the following factors, among others, in estimating expected credit losses: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Historical loss experience and default rates for instruments with similar risk characteristics;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The creditworthiness and financial condition of the counterparty;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Current and forecasted macroeconomic conditions over the reasonable and supportable forecast period, reverting to historical averages beyond that period; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Collateral arrangements, recourse provisions, and other credit enhancements.</td></tr> </table> Financial assets are written off against the allowance when management determines that the asset is uncollectible and all reasonable collection efforts have been exhausted. Subsequent recoveries, if any, are credited to the allowance for credit losses. Contract Asset The contract asset recognized in connection with the Second Amended CAA with PCCU are not financial asset within the scope of ASC 326. This asset represent costs incurred to fulfill the contract specifically, the cost of assuming the stand-ready guarantee obligation (ASC 460) and the contingent indemnification exposure (ASC 326). The contract asset is amortized on a systematic and rational basis over the contract term consistent with the release of the underlying guarantee exposure. Contract asset are evaluated for impairment under ASC 340-40-35-2 when facts and circumstances indicate the carrying amount may not be recoverable; any impairment is recognized in the period identified and may not be subsequently reversed. Stand Ready Guarantees – ASC 460 The Company accounts for financial guarantees in accordance with ASC 460, Guarantees. At the inception of a guarantee, the Company recognizes a liability equal to the fair value of the stand-ready obligation assumed. This non-contingent liability represents the value of the obligation undertaken by the Company to stand ready to perform under the guarantee, irrespective of the likelihood that a payment will actually be required. Subsequent to initial recognition, the stand-ready liability is amortized over the contractual term of the guarantee on a systematic basis that reflects the Company’s release from risk. If, at any reporting date, a contingent loss accrual required under ASC 450, Contingencies, exceeds the unamortized ASC 460 carrying amount, the Company records the higher contingent loss estimate in accordance with that guidance.

Financial Indemnification Liabilities Under ASC 326-20, the Company recognizes a financial indemnification liability for its indemnification obligation to PCCU under the Second Amended CAA. This liability represents the Company’s up to 65% share of the lifetime expected credit losses on the covered CRB loan portfolio, measured on a probability-weighted basis and updated each reporting period to reflect current conditions and reasonable and supportable forecasts of future economic conditions. The financial indemnification liability methodology considers historical loss experience, borrower-specific credit quality, collateral values, and forward-looking economic assumptions including conditions specific to the cannabis industry. The financial indemnification liability is measured independently from, and recognized in addition to, the ASC 460 stand-ready guarantee liability. The two liabilities coexist separately on the consolidated balance sheet and do not offset or true up to each other. The ASC 460 liability is fixed at inception and released over the guarantee term, while the financial indemnification liability is dynamic and remeasured each quarter. Changes in the financial indemnification liability are recognized as credit loss expense or credit loss income in the consolidated statements of operations in the period of remeasurement.

Concentration of Risk The Company’s revenues are concentrated in the United States with a single customer, PCCU, which represented the substantial majority of revenues for the years ended December 31, 2025 and 2024 (see Note 10). Substantially all CRB client deposits are maintained at PCCU, and all fund transmissions to and from those deposit accounts are handled directly by PCCU. Financial instruments that potentially subject the Company to concentrations of credit risk consist accounts receivable and cash accounts maintained at financial institutions. At times, account balances may exceed the Federal Deposit Insurance Corporation (“FDIC”) coverage limit of $0.3 million. As of December 31, 2025 and December 31, 2024, the Company had approximately $6.5 million and $2.0 million, respectively, in excess of FDIC coverage. Additionally, amounts due from PCCU represented approximately <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--TypeOfArrangementAxis__custom--CommercialAllianceAgreementMember_zhKsHc8JdiEb">97.0% and <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--TypeOfArrangementAxis__custom--CommercialAllianceAgreementMember_ztWKOPTaLMY1">87.8% of total accounts receivable as of December 31, 2025 and December 31, 2024, respectively, with balances of approximately $1.0 million at each date. The Company has not experienced losses on these accounts or receivables, and management does not believe the Company is exposed to significant credit risk on such accounts.

300000

6500000

2000000.0

0.970

0.878

1000000.0

<p id="xdx_841_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zXUqRTjTi6fb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left">Recently Issued Accounting Standards Standards Adopted in 2025 ASU 2023-09 - Income Taxes (Topic 740): In December 2023, the FASB issued ASU 2023-09, which requires additional disaggregated disclosures in the income tax rate reconciliation and disclosures of income taxes paid by jurisdiction. The standard is effective for annual periods beginning after December 15, 2024. The Company adopted this standard prospectively as of January 1, 2025. Adoption did not have a material impact on the Company’s financial statements. This is reported on a prospective basis. ASU 2024-02 - Codification Improvements: In March 2024, the FASB issued ASU 2024-02, which removes references to the FASB Concepts Statements from the Codification. The standard is effective for public entities for years beginning after December 15, 2024. The Company adopted this standard prospectively as of January 1, 2025. Adoption did not have a material impact on the Company’s financial statements. ASU 2024-01 – Compensation - Stock Compensation (Topic 718): Profits Interest and Similar Awards: In March 2024, the FASB issued ASU 2024-01, which clarifies whether profits interest and similar awards are subject to ASC 718. The standard is effective for years beginning after December 15, 2024. The Company adopted this standard prospectively as of January 1, 2025. Adoption did not have a material impact on the Company’s financial statements. Standards Not Yet Adopted ASU 2024-03 / ASU 2025-01 - Disaggregation of Income Statement Expenses (Subtopic 220-40): In November 2024, the FASB issued ASU 2024-03, subsequently clarified by ASU 2025-01 (January 2025), requiring entities to disaggregate certain income statement expense line items in the footnotes, including purchases of inventory, employee compensation, depreciation, and amortization. The standard is effective for annual periods beginning after December 15, 2026, and interim periods within annual periods beginning after December 15, 2027. Early adoption is permitted. The Company plans to adopt prospectively and does not anticipate a material impact on its financial reporting. ASU 2024-04 – Debt - Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions: In November 2024, the FASB issued ASU 2024-04, which clarifies the accounting for induced conversions of convertible debt. The standard is effective for annual periods beginning after December 15, 2025. The Company plans to adopt prospectively and does not anticipate a material impact on its financial reporting. ASU 2025-05 - Financial Instruments - Credit Losses (Topic 326): Accounts Receivable and Contract Assets: In July 2025, the FASB issued ASU 2025-05, which provides a practical expedient allowing entities to assume current credit conditions remain unchanged for the remaining life of current accounts receivable and current contract assets under ASC 606. The standard is effective for years beginning after December 15, 2025. The Company is currently evaluating the potential impact on its consolidated financial statements. ASU 2025-08 - Financial Instruments - Credit Losses (Topic 326): Purchased Loans: In December 2025, the FASB issued ASU 2025-08, which expands the population of acquired financial assets subject to the gross-up approach for recognizing credit losses at acquisition. The standard introduces the concept of “purchased seasoned loans” and requires acquired loans (other than credit cards) that have not experienced significant credit deterioration since origination to follow the gross-up approach. The amendments are effective for annual periods beginning after December 15, 2026. Due to the Company’s Second Amended CAA with PCCU, management believes this standard may have a material impact on the Company’s financial statements upon adoption. The Company is currently evaluating the scope and magnitude of that impact. The Company will continue to monitor the development of accounting standards and intends to adopt them in accordance with their respective effective dates. Additional disclosures will be provided in future filings as the Company completes its assessment.

<p id="xdx_80D_ecustom--DeferredConsiderationDisclosureTextBlock_zT3KhBemxaB8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: left; text-indent: -0.5in">Note 3 - Deferred Consideration On November 11, 2022, the Company entered into the first Amendment to the Merger Agreement with Rockview Digital Solutions, Inc. (“Abaca”) and other parties. The Merger Agreement included a $30 million payment through a mix of cash and stock, including $<span id="xdx_908_eus-gaap--PaymentsToAcquireBusinessesNetOfCashAcquired_pn6n6_c20221111__20221111__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember_zQpUtCOSHqsd" title="Payments to acquire businesses, net of cash">9 million in cash over three annual installments and <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20221111__20221111__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z3MHb7RfBYxd" title="Stock consideration settlement amount">105,000 Common Stock (“Common Stock”), alongside deferred stock considerations based on a 10-day volume weighted average price (“VWAP”) formula. A Second Amendment to the Merger Agreement, dated October 26, 2023, introduced deferred stock consideration of <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20231026__20231026__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zj2GNnAx5Y84">291,791 shares of Common Stock at a recalculated value of $<span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20231026__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--MergerAgreementMember_zhBTjNMlGucj">40.00 per share. No changes were made to the cash payments. Additionally, 250,000 stock warrants at $40.00 per share were issued, and a third-anniversary consideration payment of $1.5 million due October 5, 2025 was introduced, payable in cash or Common Stock with a floor value of $40.00 per share, at the Company’s discretion. The Company issued 37,517 unregistered shares of Common Stock in lieu of cash, computed using the floor value on October 3, 2025. On October 21, 2025, the Company filed Form S-1 to register the 37,517 shares of Common Stock issued on October 3, 2025 and the 250,000 common shares underlying the Abaca warrants to purchase Common Stock with an exercise price of $40.00 per share. On November 21, 2024, the Company deposited the $3.0 million second annual cash payment into the registry of the Denver County, Colorado District Court pending resolution of a dispute among former Abaca shareholders regarding the party authorized to receive the payment. See Note 20 Commitments and Contingencies. The adjustments and changes to deferred consideration have been valued and recorded according to ASC 815 in the Company’s consolidated financial statements. <p id="xdx_890_ecustom--ScheduleOfDeferredConsiderationTableTextBlock_zJaMDBtm3lxf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The change in the amount of deferred consideration from January 1, 2024, to December 31, 2025: Schedule of Change in Deferred Consideration <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cash Considerations</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Third Anniversary Consideration Payment</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 40%">Balance, January 1, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_ecustom--DeferredCashConsideration_iS_c20240101__20241231_z3hrSawlZqK6" style="width: 16%; text-align: right" title="Deferred cash consideration, Balance">2,889,792</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--DeferredConsiderationPayment_iS_c20240101__20241231_z20inMkF5YMc" style="width: 16%; text-align: right" title="Deferred consideration payment, Balance">810,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_ecustom--TotalDeferredConsiderationPayment_iS_c20240101__20241231_zHLDv4oSmZY6" style="width: 16%; text-align: right" title="Total deferred consideration payment, Balance">3,699,792</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">Fair value adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--DeferredCashConsiderationFairValueAdjustment_c20240101__20241231_zJBr35kv2h09" style="border-bottom: Black 1pt solid; text-align: right" title="Cash consideration, Fair value adjustment">126,551</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 id="xdx_98D_ecustom--DeferredConsiderationPaymentFairValueAdjustment_c20240101__20241231_z2tecJDWWxf2" style="border-bottom: Black 1pt solid; text-align: right" title="Consideration payment, Fair value adjustment">(488,000</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 id="xdx_98B_ecustom--TotalDeferredConsiderationPaymentFairValueAdjustment_c20240101__20241231_zmsimRlBS6yk" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred consideration payment, Fair value adjustment">(361,449</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, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--DeferredCashConsideration_iS_c20250101__20251231_zvAQInwaLGQ4" style="text-align: right" title="Deferred cash consideration, Balance">3,016,343</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--DeferredConsiderationPayment_iS_c20250101__20251231_zPJsre6DyWSf" style="text-align: right" title="Deferred consideration payment, Balance">322,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--TotalDeferredConsiderationPayment_iS_c20250101__20251231_z9NA7dPvs7d5" style="text-align: right" title="Total deferred consideration payment, Balance">3,338,343</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fair value adjustment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--DeferredCashConsiderationFairValueAdjustment_c20250101__20251231_zYyEmogELJIb" style="text-align: right" title="Cash consideration, Fair value adjustment">(16,343</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--DeferredConsiderationPaymentFairValueAdjustment_c20250101__20251231_zI784lGee4z5" style="text-align: right" title="Consideration payment, Fair value adjustment">(63,132</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--TotalDeferredConsiderationPaymentFairValueAdjustment_c20250101__20251231_zqXhe0lMO4ye" style="text-align: right" title="Total deferred consideration payment, Fair value adjustment">(79,475</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">Shares issued to Abaca shareholders</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--CashConsiderationShareIssuedToAbacaShareholders_c20250101__20251231_z43GYgOuHzqh" style="border-bottom: Black 1pt solid; text-align: right" title="Cash consideration, Shares issued to Abaca shareholders">-</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 id="xdx_98D_ecustom--ConsiderationPaymentShareIssuedToAbacaShareholders_c20250101__20251231_zV5qXNVJYTse" style="border-bottom: Black 1pt solid; text-align: right" title="Consideration payment, Shares issued to Abaca shareholders">(258,868</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 id="xdx_983_ecustom--TotalDeferredConsiderationPaymentShareIssuedToAbacaShareholders_c20250101__20251231_zI9NrK7lEdlk" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred consideration payment, Shares issued to Abaca shareholders">(258,868</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">Balance, December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_ecustom--DeferredCashConsideration_iE_c20250101__20251231_zbT2lfFKzqwf" style="border-bottom: Black 2.5pt double; text-align: right" title="Deferred cash consideration, Balance">3,000,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_ecustom--DeferredConsiderationPayment_iE_c20250101__20251231_zfi4pJEKMOP9" style="border-bottom: Black 2.5pt double; text-align: right" title="Deferred consideration payment, Balance">-</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">$</td><td id="xdx_985_ecustom--TotalDeferredConsiderationPayment_iE_c20250101__20251231_zEYAFwSGcs33" style="border-bottom: Black 2.5pt double; text-align: right" title="Total deferred consideration payment, Balance">3,000,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The fair value of the third anniversary payment consideration, at the time of settlement, was determined using the Monte Carlo Simulation. model. <p id="xdx_89A_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zi7VdDvINpLe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following table provides quantitative information regarding Level 3 fair value measurements inputs for the third anniversary payment consideration as of their measurement dates: Schedule of Fair Value Measurements Inputs for the Third Anniversary Payment Consideration <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Stock price</td> <td style="width: 2%; text-align: left"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--SharePrice_iI_pid_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zxs5pTV6d10c" style="width: 16%; text-align: right" title="Share price">9.00</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Payment date</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputMaturityMember_zJuRLnE719ch" title="Date of payment">10/15/2025</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Third anniversary consideration</td> <td style="text-align: left"> </td> <td style="text-align: left">$</td><td id="xdx_987_ecustom--ThirdAnnivarsaryConsideration_iI_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zB46yx4jjI" style="text-align: right" title="Third annivarsary consideration">1,500,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk free interest rate</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_z2K9I3h3dFJf" style="text-align: right" title="Measurement input">4.2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Market discount rate</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zHWN0wfhDGW8" style="text-align: right" title="Measurement input">5.8</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remaining term in years</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_z8hwMSac7o0b" title="Measurement input">0.75</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 style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_z3PwDtEsziz4" style="text-align: right" title="Measurement input">86.2</td><td style="text-align: left">%</td></tr> </table> On October 3, 2025, the Company issued <span id="xdx_909_eus-gaap--SharesIssued_iI_c20251003__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--ThirdAnniversaryPaymentMember_zkDt8CPBv0m8" title="Shares issued">37,517 shares of Common Stock in full settlement of the third anniversary consideration payment, resulting in a zero balance for all remaining deferred consideration obligations as of December 31, 2025. The only remaining balance in the table above represents the $3.0 million deposited with the District Court registry, which is carried as a restricted asset pending resolution of the shareholder litigation described in Note 20 Commitments and Contingencies.

30000000

9000000

105000

291791

40.00

250000

40.00

1500000

40.00

37517

250000

40.00

3000000.0

<p id="xdx_890_ecustom--ScheduleOfDeferredConsiderationTableTextBlock_zJaMDBtm3lxf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The change in the amount of deferred consideration from January 1, 2024, to December 31, 2025: Schedule of Change in Deferred Consideration <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="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cash Considerations</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Third Anniversary Consideration Payment</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; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 40%">Balance, January 1, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_ecustom--DeferredCashConsideration_iS_c20240101__20241231_z3hrSawlZqK6" style="width: 16%; text-align: right" title="Deferred cash consideration, Balance">2,889,792</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--DeferredConsiderationPayment_iS_c20240101__20241231_z20inMkF5YMc" style="width: 16%; text-align: right" title="Deferred consideration payment, Balance">810,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_ecustom--TotalDeferredConsiderationPayment_iS_c20240101__20241231_zHLDv4oSmZY6" style="width: 16%; text-align: right" title="Total deferred consideration payment, Balance">3,699,792</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">Fair value adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--DeferredCashConsiderationFairValueAdjustment_c20240101__20241231_zJBr35kv2h09" style="border-bottom: Black 1pt solid; text-align: right" title="Cash consideration, Fair value adjustment">126,551</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 id="xdx_98D_ecustom--DeferredConsiderationPaymentFairValueAdjustment_c20240101__20241231_z2tecJDWWxf2" style="border-bottom: Black 1pt solid; text-align: right" title="Consideration payment, Fair value adjustment">(488,000</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 id="xdx_98B_ecustom--TotalDeferredConsiderationPaymentFairValueAdjustment_c20240101__20241231_zmsimRlBS6yk" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred consideration payment, Fair value adjustment">(361,449</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, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--DeferredCashConsideration_iS_c20250101__20251231_zvAQInwaLGQ4" style="text-align: right" title="Deferred cash consideration, Balance">3,016,343</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--DeferredConsiderationPayment_iS_c20250101__20251231_zPJsre6DyWSf" style="text-align: right" title="Deferred consideration payment, Balance">322,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--TotalDeferredConsiderationPayment_iS_c20250101__20251231_z9NA7dPvs7d5" style="text-align: right" title="Total deferred consideration payment, Balance">3,338,343</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fair value adjustment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--DeferredCashConsiderationFairValueAdjustment_c20250101__20251231_zYyEmogELJIb" style="text-align: right" title="Cash consideration, Fair value adjustment">(16,343</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--DeferredConsiderationPaymentFairValueAdjustment_c20250101__20251231_zI784lGee4z5" style="text-align: right" title="Consideration payment, Fair value adjustment">(63,132</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--TotalDeferredConsiderationPaymentFairValueAdjustment_c20250101__20251231_zqXhe0lMO4ye" style="text-align: right" title="Total deferred consideration payment, Fair value adjustment">(79,475</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">Shares issued to Abaca shareholders</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--CashConsiderationShareIssuedToAbacaShareholders_c20250101__20251231_z43GYgOuHzqh" style="border-bottom: Black 1pt solid; text-align: right" title="Cash consideration, Shares issued to Abaca shareholders">-</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 id="xdx_98D_ecustom--ConsiderationPaymentShareIssuedToAbacaShareholders_c20250101__20251231_zV5qXNVJYTse" style="border-bottom: Black 1pt solid; text-align: right" title="Consideration payment, Shares issued to Abaca shareholders">(258,868</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 id="xdx_983_ecustom--TotalDeferredConsiderationPaymentShareIssuedToAbacaShareholders_c20250101__20251231_zI9NrK7lEdlk" style="border-bottom: Black 1pt solid; text-align: right" title="Total deferred consideration payment, Shares issued to Abaca shareholders">(258,868</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">Balance, December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_ecustom--DeferredCashConsideration_iE_c20250101__20251231_zbT2lfFKzqwf" style="border-bottom: Black 2.5pt double; text-align: right" title="Deferred cash consideration, Balance">3,000,000</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">$</td><td id="xdx_98C_ecustom--DeferredConsiderationPayment_iE_c20250101__20251231_zfi4pJEKMOP9" style="border-bottom: Black 2.5pt double; text-align: right" title="Deferred consideration payment, Balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_ecustom--TotalDeferredConsiderationPayment_iE_c20250101__20251231_zEYAFwSGcs33" style="border-bottom: Black 2.5pt double; text-align: right" title="Total deferred consideration payment, Balance">3,000,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2889792 810000 3699792 126551 -488000 -361449 3016343 322000 3338343 -16343 -63132 -79475 -258868 -258868 3000000 3000000

<p id="xdx_89A_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zi7VdDvINpLe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following table provides quantitative information regarding Level 3 fair value measurements inputs for the third anniversary payment consideration as of their measurement dates: Schedule of Fair Value Measurements Inputs for the Third Anniversary Payment Consideration <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Stock price</td> <td style="width: 2%; text-align: left"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--SharePrice_iI_pid_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zxs5pTV6d10c" style="width: 16%; text-align: right" title="Share price">9.00</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Payment date</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputMaturityMember_zJuRLnE719ch" title="Date of payment">10/15/2025</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Third anniversary consideration</td> <td style="text-align: left"> </td> <td style="text-align: left">$</td><td id="xdx_987_ecustom--ThirdAnnivarsaryConsideration_iI_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zB46yx4jjI" style="text-align: right" title="Third annivarsary consideration">1,500,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk free interest rate</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_z2K9I3h3dFJf" style="text-align: right" title="Measurement input">4.2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Market discount rate</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zHWN0wfhDGW8" style="text-align: right" title="Measurement input">5.8</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remaining term in years</td> <td style="text-align: left"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_z8hwMSac7o0b" title="Measurement input">0.75</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 style="text-align: left"> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_z3PwDtEsziz4" style="text-align: right" title="Measurement input">86.2</td><td style="text-align: left">%</td></tr> </table>

9.00

2025-10-15

1500000

4.2

5.8

P0Y9M

86.2

37517

3000000.0

<p id="xdx_806_eus-gaap--GoodwillAndIntangibleAssetsDisclosureTextBlock_zJP3pjZY5C1f" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left">Note 4 - Goodwill and Finite-lived Intangible Assets 2024 Impairment As of December 31, 2024, the Company recorded full impairment charges against all remaining goodwill and finite-lived intangible assets, which were derived primarily from the October 2022 acquisition of Abaca. The impairment charges totaled $3.1 million, comprised of $<span id="xdx_904_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_pn4n6_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--MarketingRelatedIntangibleAssetsMember_zu2fiyjswQb4" title="Impairment charges">0.05 million for market-related intangible assets, $<span id="xdx_901_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_pn4n6_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zmnC51KxPNV8" title="Impairment charges">0.05 million for customer relationships, and $<span id="xdx_90F_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_pn5n6_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_znkA6dVKbc68" title="Impairment charges">3.0 million for developed technology. Impairment expense for the year ended December 31, 2024 was $6.1 million. Following these charges, the carrying values of all such assets were zero as of December 31, 2024. 420 IT Asset Acquisition In December 2025, the Company’s wholly-owned subsidiary, Safe Harbor Managed Services LLC, completed an asset acquisition from LBMW LLC, doing business as 420 IT Solutions (“420 IT Solutions”), a managed services business. The purchased assets consist primarily of intellectual property, including a registered trademark, and certain assigned customer contracts and goodwill. No cash consideration was paid. The aggregate purchase price consisted of 125,000 shares of the Company’s Common Stock (the “Earnout Shares”), which vest based on the achievement of net revenue performance targets during the periods ending December 31, 2026 and December 31, 2027, and the assumption of certain specified liabilities. The transaction was accounted for as an asset acquisition under ASC 805-50. The total consideration transferred was measured at the fair value of the Earnout Shares at the acquisition date. Because vesting is contingent solely on future performance conditions, the Earnout Shares are accounted for as contingent consideration and recognized as the performance conditions become probable of achievement. Therefore, the Company did not record any intangible assets and contingent liability as of December 31, 2025. If circumstances change when the revenue target is probable, then the intangible assets and a contingent liability will be recorded within one year from the acquisition date.

3100000

50000.00

3000000.0

6100000

125000

<p id="xdx_80B_eus-gaap--LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_zq0Vq1l8jWOf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: left; text-indent: -0.5in">Note 5 - Loans Receivable As of December 31, 2024, the Company held one commercial real estate loan receivable with a gross carrying value of $<span id="xdx_90F_eus-gaap--NotesReceivableGross_iI_pn5n6_c20241231__us-gaap--DebtInstrumentAxis__custom--CommercialRealEstateLoansReceivableMember_z1cGDdOQXqd5" title="Commercial real estate loans receivable, gross">0.4 million, net of no allowance for credit losses. On July 31, 2025, the Company sold this loan to PCCU, a related party to improve liquidity. Prior to the sale, the Company received a principal payment of $0.008 million, reducing the outstanding balance to $0.4 million. The loan was sold at carrying value, and no gain or loss was recognized on the sale. See Note 10 Related Party Transactions for further information regarding the Company’s relationship with PCCU. <p id="xdx_890_eus-gaap--ScheduleOfRealEstatePropertiesTableTextBlock_zt9Nd5M9ek1e" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following table summarizes the activity in commercial real estate loans receivable for the years ended December 31, 2025 and December 31, 2024: Schedule of Commercial Real Estate Loans Receivable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231__us-gaap--DebtInstrumentAxis__custom--CommercialRealEstateLoansReceivableMember_zSpnnfsyon3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241231__us-gaap--DebtInstrumentAxis__custom--CommercialRealEstateLoansReceivableMember_zjH040Y1Sg5g" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_eus-gaap--NotesReceivableGross_iI_zqjijZZs0xf4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Commercial real estate loans receivable, gross</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">392,186</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">392,186</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--RealEstatePayment_iNI_di_zSIKslj6Msf4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Payment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,659</td><td style="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--RealEstateHeldforsale_iNI_di_zwAj266zXiB9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Sale of loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(384,527</td><td style="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_409_ecustom--NotesReceivableTransferredToHeldForSale_iNI_di_zdRrRtC6Y6n7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Transferred to held for sale</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_409_eus-gaap--NotesReceivableNet_iI_zqPNjdNxMLDe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Commercial real estate loans receivable, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">392,186</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--CommercialRealEstateLoansReceivableCurrent_iI_zGTgdGcX8LL1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left; padding-bottom: 1pt">Current portion</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">(13,332</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_ecustom--CommercialRealEstateLoansReceivableNonCurrent_iI_zEgyaQy2kUFj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Non-current portion</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">378,854</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

400000

8000.000

400000

<p id="xdx_890_eus-gaap--ScheduleOfRealEstatePropertiesTableTextBlock_zt9Nd5M9ek1e" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following table summarizes the activity in commercial real estate loans receivable for the years ended December 31, 2025 and December 31, 2024: Schedule of Commercial Real Estate Loans Receivable <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231__us-gaap--DebtInstrumentAxis__custom--CommercialRealEstateLoansReceivableMember_zSpnnfsyon3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241231__us-gaap--DebtInstrumentAxis__custom--CommercialRealEstateLoansReceivableMember_zjH040Y1Sg5g" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_eus-gaap--NotesReceivableGross_iI_zqjijZZs0xf4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Commercial real estate loans receivable, gross</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">392,186</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">392,186</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--RealEstatePayment_iNI_di_zSIKslj6Msf4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Payment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,659</td><td style="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--RealEstateHeldforsale_iNI_di_zwAj266zXiB9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Sale of loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(384,527</td><td style="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_409_ecustom--NotesReceivableTransferredToHeldForSale_iNI_di_zdRrRtC6Y6n7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Transferred to held for sale</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_409_eus-gaap--NotesReceivableNet_iI_zqPNjdNxMLDe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Commercial real estate loans receivable, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">392,186</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--CommercialRealEstateLoansReceivableCurrent_iI_zGTgdGcX8LL1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left; padding-bottom: 1pt">Current portion</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">(13,332</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_ecustom--CommercialRealEstateLoansReceivableNonCurrent_iI_zEgyaQy2kUFj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Non-current portion</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">378,854</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

392186

7659

384527

392186

-13332 378854

Note 6 - Investment in Preferred Securities On September 30, 2025, as partial consideration received in connection with the issuance of <span id="xdx_908_eus-gaap--PreferredStockSharesIssued_iI_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember__dei--LegalEntityAxis__custom--AditxtIncMember_zSMAwIHOZCTj" title="Preferred stock, shares issued">1,875 shares of Series B Convertible Preferred Stock and Series B Warrants to purchase Common Stock (see Note 19), the Company received preferred shares of Aditxt, Inc. (“ADTX”), a publicly traded company. The Series B Convertible Preferred Stock was issued at $<span id="xdx_90E_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__dei--LegalEntityAxis__custom--AditxtIncMember_zjYDKebKICul" title="Preferred stock, par value">800 per share. No cash was exchanged in this transaction. The ADTX preferred securities had an estimated fair value and carrying value of $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_pn5n6_c20250930__20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__dei--LegalEntityAxis__custom--AditxtIncMember_z5R4BZielsHc" title="Proceeds from issuance of convertible preferred stock">1.5 million at the date of receipt. <span id="xdx_904_eus-gaap--PreferredStockVotingRights_c20250930__20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__dei--LegalEntityAxis__custom--AditxtIncMember_zhKc8hypuZj" title="Voting rights">The investment represents less than 20% of the voting interests in ADTX, and the Company does not have the ability to exercise significant influence or control over ADTX. Accordingly, the investment is accounted for under ASC 321, Investments – Equity Securities. Because ADTX’s preferred shares are not actively traded and lack a readily determinable fair value, the Company has elected to measure the investment at cost, less any impairment, adjusted for observable price changes in orderly transactions for identical or similar instruments, as permitted under ASC 321-10-35-2. During the year ended December 31, 2025, ADTX redeemed approximately 43 shares of its preferred stock held by the Company pursuant to the preferred share terms, resulting in cash proceeds of $0.05 million. No gain or loss was recognized on this redemption. No impairments or other observable price adjustments were recognized during the year ended December 31, 2025. The following table summarizes the activity in the investment during the year ended December 31, 2025: Schedule of Activity in Investment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Shares</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250101__20251231_z5YnGV6u5Qoj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_ecustom--InvestmentInPreferredSecurities_zBk7sK76tnbf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Initial recognition at fair value (September 30, 2025)</td><td style="width: 2%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 16%">1,500</td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,500,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ProceedsFromSaleOfPreferredSecurities_iN_di_ziInZAr5yN77" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Proceeds from redemption</td><td> </td> <td> </td> <td style="text-align: right">(43</td> <td>)</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">(50,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--AssetImpairmentCharges_z40W5aaLNcCe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Impairment charges</td><td> </td> <td> </td> <td style="text-align: right">-</td> <td> </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_40F_ecustom--ObservablePriceAdjustments_z3ttYWvcOUo9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Observable price adjustments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">-</td> <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 id="xdx_40A_ecustom--InvestmentInPreferredSecuritiesCarryingValue_zzHSFcpZkeY2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold">Balance, December 31, 2025</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">1,457</td> <td style="padding-bottom: 2.5pt"> </td> <td style="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">1,450,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> As of December 31, 2025, the investment is classified as a long-term asset on the consolidated balance sheet and continues to be measured in accordance with ASC 321. Any future gains or losses resulting from dispositions or impairments will be recognized in Other Income (Expense) in the consolidated statements of operations.

1875

800

1500000

The investment represents less than 20% of the voting interests in ADTX, and the Company does not have the ability to exercise significant influence or control over ADTX.

43 50000.00

The following table summarizes the activity in the investment during the year ended December 31, 2025: Schedule of Activity in Investment <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="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Shares</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250101__20251231_z5YnGV6u5Qoj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_ecustom--InvestmentInPreferredSecurities_zBk7sK76tnbf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Initial recognition at fair value (September 30, 2025)</td><td style="width: 2%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 16%">1,500</td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,500,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ProceedsFromSaleOfPreferredSecurities_iN_di_ziInZAr5yN77" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Proceeds from redemption</td><td> </td> <td> </td> <td style="text-align: right">(43</td> <td>)</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">(50,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--AssetImpairmentCharges_z40W5aaLNcCe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Impairment charges</td><td> </td> <td> </td> <td style="text-align: right">-</td> <td> </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_40F_ecustom--ObservablePriceAdjustments_z3ttYWvcOUo9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Observable price adjustments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">-</td> <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 id="xdx_40A_ecustom--InvestmentInPreferredSecuritiesCarryingValue_zzHSFcpZkeY2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; font-weight: bold">Balance, December 31, 2025</td><td style="padding-bottom: 2.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">1,457</td> <td style="padding-bottom: 2.5pt"> </td> <td style="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">1,450,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

1500

1500000

50000

1457

1450000 Note 7 – Prepaid Expenses Prepaid expenses as of December 31, 2025 and December 31, 2024 consists of the following: Schedule of Prepaid Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_zZpVkVR7JtBg" style="border-bottom: Black 1pt solid; 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" id="xdx_497_20241231_z59yuI4QFoee" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="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">Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; 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; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--PrepaidInsurance_iI_maPECANztSB_zbhPqzZhdkwb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 60%">Insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">791,423</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">808,480</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--PrepaidConsultingCharges_iI_maPECANztSB_zmOytMKPqTzi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Consulting</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">325,100</td><td style="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--PrepaidAdvertising_iI_maPECANztSB_zWX3D1TiMyu" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,667</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPECANztSB_znfuU4D0vCJ2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Others</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">160,206</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">171,889</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseCurrentAndNoncurrent_iTI_mtPECANztSB_zshmtktXpIXi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,276,729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,072,036</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseCurrent_iI_zIPXnI7SsOfe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Current portion</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">862,400</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">659,536</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseNoncurrent_iI_zJuiJz42rb9i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total non-current portion</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">414,329</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">412,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Insurance The Company maintains several insurance policies. In addition, in connection with the Company’s de-SPAC transaction, the Company obtained a Directors and Officers liability run-off policy providing coverage through September 2028. Consulting In connection with the September 30, 2025 recapitalization, the Company issued <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250901__20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_z6O2UYJhOzyl" title="Aggregate shares issued">1,063 shares of Series B Convertible Preferred Stock and accompanying Series B Warrants to purchase <span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zLmlY46bUv08" title="Warrant issued">68,453 shares of Common Stock to three independent service providers in exchange for professional and marketing services to be rendered through September 30, 2027. The instruments were measured at grant-date fair value of approximately $0.8 million using a third-party valuation specialist and are classified within stockholders’ equity. The fair value was recorded as a prepaid consulting asset and is being amortized to professional services expense on a straight-line basis over the two-year service term. As of December 31, 2025, the unamortized balance was approximately $0.3 million. There are claw back features for certain consultants as of December 31, 2025, and the prepaid balance is approximately $0.2 million. Marketing In September 2024, the Company entered into a six-month marketing services agreement with an independent third-party marketing services provider for social media, investor engagement, and influencer-related marketing services covering the period September 4, 2024 through March 3, 2025. Compensation consisted of $0.2 million in Common Stock, valued at the Nasdaq closing price on September 3, 2024, and a $0.1 million cash marketing budget. The stock-based portion was recorded as a prepaid asset and amortized to marketing expense on a straight-line basis over the service term. As of December 31, 2024, the unamortized balance was approximately $0.1 million. The arrangement was fully amortized by March 3, 2025. Prepaid expenses as of December 31, 2025 and December 31, 2024 consists of the following: Schedule of Prepaid Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_zZpVkVR7JtBg" style="border-bottom: Black 1pt solid; 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" id="xdx_497_20241231_z59yuI4QFoee" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="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">Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; 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; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--PrepaidInsurance_iI_maPECANztSB_zbhPqzZhdkwb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 60%">Insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">791,423</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">808,480</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--PrepaidConsultingCharges_iI_maPECANztSB_zmOytMKPqTzi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Consulting</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">325,100</td><td style="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--PrepaidAdvertising_iI_maPECANztSB_zWX3D1TiMyu" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,667</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPECANztSB_znfuU4D0vCJ2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Others</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">160,206</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">171,889</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseCurrentAndNoncurrent_iTI_mtPECANztSB_zshmtktXpIXi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,276,729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,072,036</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseCurrent_iI_zIPXnI7SsOfe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Current portion</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">862,400</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">659,536</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseNoncurrent_iI_zJuiJz42rb9i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total non-current portion</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">414,329</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">412,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

791423

808480

325100

91667

160206

171889

1276729

1072036

862400

659536

414329

412500

1063

68453

800000

300000

200000

100000 100000 <p id="xdx_80E_ecustom--LoanPortfolioIndemnificationObligationsTextBlock_zb8pCUOhIAyi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left">Note 8 - Loan Portfolio Indemnification Obligations Under the Second Amended CAA, the Company indemnifies PCCU for up to 65% of Default-Related Losses on PCCU’s CRB loan portfolio. The Agreement has a stated effective date of October 1, 2025. The Company, and PCCU reached agreement on the material economic terms of the Second Amended CAA on or about October 1, 2025, following completion of the September 2025 Recapitalization. The written agreement was formally executed on February 4, 2026; the intervening period involved only procedural and documentation matters that did not affect the substance of the agreed terms. Accordingly, the Company has given effect to the Second Amended CAA from October 1, 2025, consistent with ASC 606 contract modification guidance. The obligation is recognized as two independent, coexisting liabilities that do not offset each other: (i) a noncontingent stand-ready guarantee liability under ASC 460, measured at fair value at inception, and (ii) a contingent expected credit loss liability under ASC 326-20, representing the Company’s up to 65% share of estimated lifetime expected credit losses on the PCCU CRB portfolio. Each liability is recognized with a corresponding contract asset under ASC 340-40-25-2, as the indemnification costs are directly related to the Agreement and are expected to be recovered through the Company’s up to 65% share of loan program income. The net Day 1 equity impact is zero. The following table summarizes the October 1, 2025, inception date, consolidated balance sheet impact of ASC 460 and ASC 326. Schedule of Balance Sheet Impact <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="text-align: left"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20251001__us-gaap--GuaranteeObligationsByNatureAxis__custom--ASC460Member_zFamyylaXpS" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 460</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_496_20251001__us-gaap--GuaranteeObligationsByNatureAxis__custom--ASC326Member_zTXPZ6ZheH31" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 326</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20251001_zexEZVnS3yIf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--CapitalizedContractCostNet_i01I_zDh0xXBRuAve" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Contract asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,135,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,091,772</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,226,772</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--FinancialIndemnificationLiabilities_i01I_zCYugiV9Jvgg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Financial indemnification liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,091,772</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,091,772</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--StandreadyGuaranteeLiabilityNet_i01I_zBF0pEAKP0Zk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stand-ready guarantee liability</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,135,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,135,000</td><td style="text-align: left"> </td></tr> </table> ASC 460 - Guarantee Liability The issuance of a guarantee imposes a noncontingent obligation to stand ready to perform; initial recognition is required at inception regardless of whether payment is probable. The stand-ready liability is recognized separately from the ASC 326 liability. The stand-ready liability is measured at fair value at inception under ASC 820-10 using a market-based insurance pricing approach, classified as Level 3 due to the absence of observable market inputs for cannabis lending guarantees. The fair value of a guarantee at inception reflects the premium that a market participant (analogized to a specialty insurance carrier) would charge in an arm’s-length transaction to underwrite the same risk. Because no direct market comparable exist for cannabis CRB loan portfolio guarantees, management estimated the standalone selling price by constructing the premium components a specialty financial guarantor would require. The fair value incorporates three components: (a) the expected loss element, representing the probability-weighted losses the guarantor expects to absorb; (b) a stand-ready risk premium, representing the additional compensation a market participant would require for uncertainty, volatility, and the uncapped nature of the commitment beyond expected losses; and (c) a time value adjustment. Key Level 3 inputs are as follows: <p id="xdx_89E_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zT2qglS6t2Xb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Schedule of Significant Unobservable Input <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="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Significant Unobservable Input</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Value</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: 80%; text-align: left; padding-bottom: 1pt">Pooled Probability of Default or PD (Ratings 2–5)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 16%; text-align: right"><span id="xdx_903_ecustom--GuaranteeObligationsLiquidationPercentage_pid_dp_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__srt--CreditRatingFitchAxis__custom--PooledPDMember_zLAEc5HfQdS8" title="Guarantor obligations, percentage">7.25</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Pooled Loss Given Default or LGD (inclusive of 13% cannabis qualitative premium)</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_90C_ecustom--GuaranteeObligationsLiquidationPercentage_pid_dp_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__srt--CreditRatingFitchAxis__custom--PooledLGDMember_z0mR0lsjIzHa" title="Guarantor obligations, percentage">35</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: 1pt">Tranche C PD (Rating 9, individually evaluated)</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_90E_ecustom--GuaranteeObligationsLiquidationPercentage_pid_dp_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__srt--CreditRatingFitchAxis__custom--TrancheCPDMember_zpCho8UAQfsd" title="Guarantor obligations, percentage">35</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: 1pt">Tranche C LGD on uncollateralized gap</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_90B_ecustom--GuaranteeObligationsLiquidationPercentage_pid_dp_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__srt--CreditRatingFitchAxis__custom--TrancheCLGDMember_zcO840O2WTa7" title="Guarantor obligations, percentage">50</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: 1pt">Stand-ready risk premium loading</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_902_ecustom--GuaranteeObligationsLossDescription_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__srt--CreditRatingFitchAxis__custom--StandRreadyRiskPremiumMember_zufu0jStoQ07" title="Guarantor obligations, loss description">120% of expected loss</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: 1pt">Discount rate</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_906_eus-gaap--ProductLiabilityContingencyAccrualDiscountRate_iI_pid_dp_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_ztyuh053qAF8" title="Discount rate">4.0</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: 1pt">Weighted average pay out year – Tranche A</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--GuarantorObligationTerm1_dtY_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--TrancheAMember_zo1BVcoBUCh3" title="Discount rate">4 years</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: 1pt">Weighted average pay out year – Tranche B</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_908_eus-gaap--GuarantorObligationTerm1_dtY_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--TrancheBMember_z07itrIyVQ25" title="Discount rate">3 years</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: 1pt">Weighted average pay out year – Tranche C</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_90E_eus-gaap--GuarantorObligationTerm1_dtY_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--TrancheCMember_zo8JQFNdRXW7" title="Discount rate">2 years</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: 1pt">Weighted average pay out year – Stand Ready Premium</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_905_eus-gaap--GuarantorObligationTerm1_dtY_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--StandReadyPremiumMember_zXm9AjIPseF" title="Weighted avg payout year">3 years</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> The maximum potential number of future payments under the guarantee is approximately $33.8 million, representing 65% of the total outstanding CRB loan portfolio balance. The indemnification percentage is subject to reduction under the Agreement’s Listing-Related Adjustment Clause. The stand-ready guarantee liability is reduced through amortization on a straight-line basis over three years, representing the weighted average life of the underlying loan portfolio at inception. The release period and pattern are reassessed at least annually and will be adjusted prospectively if material changes in portfolio composition, paydowns, or maturities indicate that the weighted average life assumption is no longer appropriate. The corresponding contract asset is amortized on the same basis as operating expense partially offset by the liability release to income each period. ASC 326-20 - Financial Indemnification Liability Financial indemnification liability are estimated using a PD × LGD framework segmented by PCCU’s internal risk rating scale. Management uses PCCU’s reserve methodology as a baseline and independently evaluates key assumptions, with adjustments where management’s estimates differ from PCCU’s. The cannabis industry specific risk is reflected through a 16.6% qualitative LGD premium and management’s independent assessment of Tranche C. The indemnified portfolio is segmented into three tranches. Loans rated 9 or 10 are individually evaluated rather than included in the pooled analysis: Schedule of Expected Credit Loss Liability <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="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Tranche</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Ratings</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251231__us-gaap--AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis__us-gaap--FinanceReceivablesMember_zZCdHcZpEEJ1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Loan Balance</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Loss Method</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231__us-gaap--AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis__custom--FinanceReceivablesReserveMember_zHOEGwNUh6Gb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Reserve</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_iI_hus-gaap--InternalCreditAssessmentAxis__us-gaap--PassMember_zmBfiIU5FQrh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 25%; text-align: left; padding-bottom: 1pt">Tranche A - Pass Rated</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 14%; text-align: center; padding-bottom: 1pt">2–5</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left">$</td><td style="padding-bottom: 1pt; width: 10%; text-align: right">35,544,024</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 25%; text-align: justify; padding-bottom: 1pt">Pooled; rates<span id="xdx_902_eus-gaap--LongTermDebtPercentageBearingFixedInterestRate_iI_pid_dp_uPure_c20251231__srt--RangeAxis__srt--MinimumMember__us-gaap--InternalCreditAssessmentAxis__us-gaap--PassMember_zWCznILsgB65"> 0.453%–<span id="xdx_90D_eus-gaap--LongTermDebtPercentageBearingFixedInterestRate_iI_pid_dp_uPure_c20251231__srt--RangeAxis__srt--MaximumMember__us-gaap--InternalCreditAssessmentAxis__us-gaap--PassMember_zWUDP2TClcwb">1.81%</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left">$</td><td style="padding-bottom: 1pt; width: 14%; text-align: right">406,066</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_iI_hus-gaap--InternalCreditAssessmentAxis__custom--ElevatedMember_ztoRVP3GxMTe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Tranche B - Elevated Risk</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">6–8</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">7,168,435</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: justify; padding-bottom: 1pt">Pooled; rates <span id="xdx_90C_eus-gaap--LongTermDebtPercentageBearingFixedInterestRate_iI_pid_dp_uPure_c20251231__srt--RangeAxis__srt--MinimumMember__us-gaap--InternalCreditAssessmentAxis__custom--ElevatedRiskMember_zU2i0u5UO3n2">3.17%–<span id="xdx_90F_eus-gaap--LongTermDebtPercentageBearingFixedInterestRate_iI_pid_dp_uPure_c20251231__srt--RangeAxis__srt--MaximumMember__us-gaap--InternalCreditAssessmentAxis__custom--ElevatedRiskMember_z2CXIw4X3Pf1">9.21%</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">296,304</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1_iI_hus-gaap--InternalCreditAssessmentAxis__us-gaap--SpecialMentionMember_zeaiYmDqNiXh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Tranche C - Specific Risk</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">9</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">9,346,394</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: justify; padding-bottom: 1pt">Individual evaluation</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">389,402</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iI_zorPs2n9KpD6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </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">52,058,853</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </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">1,091,772</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> There is a single loan in Tranche C that is individually evaluated due to its past-maturity status (original maturity July 2024) and commercial and industrial or C&I structure secured solely by a UCC filing on business assets with certain personal guarantees. Management applied a 35% PD and 50% LGD on the uncollateralized gap of approximately $3.4 million. Loans in the portfolio are secured primarily by real estate used for cannabis-specific purposes, including cultivation facilities, processing facilities, and retail dispensaries, and in certain cases by business assets under UCC filings. Because cannabis-use properties have limited alternative-use marketability under current federal law, management applies a two-step discount to collateral values: (i) elimination of the cannabis license premium (the “green tax”), reflecting that a non-cannabis buyer would not ascribe value to the cannabis operating license embedded in the appraised value; and (ii) a reduction to the remaining value to reflect proceeds realizable from a liquidation sale to a non-cannabis buyer. This methodology results in adjusted portfolio collateral of approximately $<span id="xdx_901_ecustom--FinancingReceivableAdjustedPortfolioCollateral_iI_pn5n6_c20251231__us-gaap--AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis__us-gaap--FinanceReceivablesMember_zIKB3FmekaNl" title="Adjusted portfolio collateral">44.1 million against a gross balance of $<span id="xdx_900_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iI_pn5n6_c20251231__us-gaap--AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis__us-gaap--FinanceReceivablesMember_zGFGDzytvD41" title="Financing receivable gross balance">52.1 million. The portfolio has experienced zero credit losses since program inception. Management supplements this limited loss history with cannabis industry benchmarks and peer data. Cannabis industry-specific risk including 100% single-industry concentration, Schedule I federal status, and collateral marketability constraints is reflected through an embedded 16.6% qualitative LGD premium across all pooled tranches. Expected credit losses are estimated using historical loss rates derived from a five-year lookback period, reflecting 2 restructured loans out of 28 over that period. Management determined that reasonable and supportable forecasts of future economic conditions beyond the historical loss experience could not be made for this portfolio, given its limited loss history and the significant uncertainty surrounding the cannabis regulatory and legal environment. Accordingly, the historical loss rates are applied without forward-looking adjustment, with immediate reversion to historical rates. The financial indemnification liability is remeasured quarterly; changes are recognized as credit loss expense or income per ASC 326-20-35-8. The inception-date contract asset is reduced as underlying loans pay down or mature and is not subject to straight-line amortization. The 65% indemnification percentage is subject to reduction under the Agreement’s Listing-Related Adjustment Clause if the Company fails to maintain NASDAQ listing standards. A reduction would result in a partial release of the ASC 460 liability to income, a downward remeasurement of the financial indemnification liability, and an impairment assessment of the related contract assets. For the year ended December 31, 2025, the Company recognized a reversal of provision of $<span id="xdx_903_eus-gaap--LossContingencyLossInPeriod_pn5n6_c20250101__20251231__us-gaap--AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis__us-gaap--FinanceReceivablesMember_zcL06dCegWz4" title="Reversal of provision">0.2 million, representing the systematic release of the ASC 460 stand-ready guarantee liability computed over the weighted-average remaining life of three years of the covered CRB loan portfolio. As of December 31, 2025, the Company did not change its financial indemnification liability, as such there was no impact on the consolidated statements of operations. As of December 31, 2024, there was no financial indemnification liability as the Company ceased indemnifying the loan portfolio subject to the first amendment to the PCCU CAA. As of December 31, 2024, the Company favorably reversed a $1.4M indemnification liability. For the period between January 1, 2025 and September 30, 2025, the Company did not indemnify loan portfolio. The following table summarizes the changes of the contract asset for the year ended December 31, 2025 and December 31, 2024: Schedule of Contract Asset <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zBs5SmpLAqUe" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_znWZ2ZX78CZf" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zAfyzCyJ1Ql4" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zbHnLRetGrGl" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zWbUfdWj01da" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49F_20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zIJThZFBODue" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC460</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; font-weight: bold; text-align: center">ASC 326</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; font-weight: bold; text-align: center">Total</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; font-weight: bold; text-align: center">ASC 460</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; font-weight: bold; text-align: center">ASC 326</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; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Beginning balance</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ContractWithCustomerAssetNet_iS_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zFAcNrQ9TVE8" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ContractWithCustomerAssetNet_iS_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zELF7XGu12S2" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ContractWithCustomerAssetNet_iS_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_z8xtJsxPOyr5" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ContractWithCustomerAssetNet_iS_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_z9QXtsAol3o" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ContractWithCustomerAssetNet_iS_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zKj7GivWr0kb" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ContractWithCustomerAssetNet_iS_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zD3asQ2hsuWa" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Initial recognition as per Second Amended CAA</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_ecustom--ContractWithCustomerAssetInitialRecognition_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zkp8Fsh2oaK6" style="width: 6%; text-align: right" title="Initial recognition as per Second Amended CAA">2,135,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_ecustom--ContractWithCustomerAssetInitialRecognition_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_z73GCcTZRCr" style="width: 6%; text-align: right" title="Initial recognition as per Second Amended CAA">1,091,772</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--ContractWithCustomerAssetInitialRecognition_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zaKiDWnfbVN4" style="width: 6%; text-align: right" title="Initial recognition as per Second Amended CAA">3,226,772</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--ContractWithCustomerAssetInitialRecognition_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zxRSB0CJp8td" style="width: 6%; text-align: right" title="Initial recognition as per Second Amended CAA">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_ecustom--ContractWithCustomerAssetInitialRecognition_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zifmX4RxdY7l" style="width: 6%; text-align: right" title="Initial recognition as per Second Amended CAA">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--ContractWithCustomerAssetInitialRecognition_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zuXVBOU99DNf" style="width: 6%; text-align: right" title="Initial recognition as per Second Amended CAA">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--ContractWithCustomerAssetAmortization_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zIXvzHvBlnA5" style="border-bottom: Black 1pt solid; text-align: right" title="Amortization">(85,401</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 id="xdx_982_ecustom--ContractWithCustomerAssetAmortization_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zpYWJsk4AKXf" style="border-bottom: Black 1pt solid; text-align: right" title="Amortization">(43,671</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 id="xdx_98C_ecustom--ContractWithCustomerAssetAmortization_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zlZYaHxEvPnl" style="border-bottom: Black 1pt solid; text-align: right" title="Amortization">(129,072</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 id="xdx_98F_ecustom--ContractWithCustomerAssetAmortization_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zZMhH5SnJfU1" style="border-bottom: Black 1pt solid; text-align: right" title="Amortization">-</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 id="xdx_98D_ecustom--ContractWithCustomerAssetAmortization_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zOPzotrSol85" style="border-bottom: Black 1pt solid; text-align: right" title="Amortization">-</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 id="xdx_985_ecustom--ContractWithCustomerAssetAmortization_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zvdrnhRw3w2h" style="border-bottom: Black 1pt solid; text-align: right" title="Amortization">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Ending balance</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ContractWithCustomerAssetNet_iE_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zvlN6ScA5wZ3" style="text-align: right" title="Ending balance">2,049,599</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ContractWithCustomerAssetNet_iE_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zy3vodANTTQ5" style="text-align: right" title="Ending balance">1,048,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ContractWithCustomerAssetNet_iE_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zQk5olSpr5ei" style="text-align: right" title="Ending balance">3,097,700</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--ContractWithCustomerAssetNet_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zsSFKMtHwBW2" style="font-weight: bold; text-align: right" title="Ending balance">-</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 id="xdx_98D_eus-gaap--ContractWithCustomerAssetNet_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zsQVtqsit9P3" style="font-weight: bold; text-align: right" title="Ending balance">-</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 id="xdx_980_eus-gaap--ContractWithCustomerAssetNet_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_z6UUanwLrMTb" style="font-weight: bold; text-align: right" title="Ending balance">-</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ContractWithCustomerAssetNetCurrent_iNI_di_zPFznweZCHN3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: current portion</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">(341,600</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">(174,683</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">(516,283</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: right">-</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: right">-</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: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ContractWithCustomerAssetNetNoncurrent_iI_zd36IrmDjoF1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total non-current portion</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">1,707,999</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">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">873,418</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,581,417</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">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</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> The following table summarizes the changes of the liabilities for the year ended December 31, 2025 and December 31, 2024: Summary of Movement of Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zDoE3tumibNj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC460</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zlZcMhIkN85f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 326</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zqb7J9SG39y5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zGJsjJkF8Mt8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 460</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zTy1aBcN6KPj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 326</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zrlwPiEm1LNk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC460</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; font-weight: bold; text-align: center">ASC 326</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; font-weight: bold; text-align: center">Total</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; font-weight: bold; text-align: center">ASC 460</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; font-weight: bold; text-align: center">ASC 326</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; font-weight: bold; text-align: center">Total</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: 40%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--LossContingencyAccrualAtCarryingValue_iS_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_z1xo4KHceGJ" style="width: 6%; text-align: right" title="Beginning balance">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--LossContingencyAccrualAtCarryingValue_iS_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zI0cUKyTiVD8" style="width: 6%; text-align: right" title="Beginning balance">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--LossContingencyAccrualAtCarryingValue_iS_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zs1b6V4nN8ig" style="width: 6%; text-align: right" title="Beginning balance">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--LossContingencyAccrualAtCarryingValue_iS_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zRT47QROcEVc" style="width: 6%; text-align: right" title="Beginning balance">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--LossContingencyAccrualAtCarryingValue_iS_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zAPbWRJ4Pl71" style="width: 6%; text-align: right" title="Beginning balance">1,393,131</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--LossContingencyAccrualAtCarryingValue_iS_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zWqI7q6UXDYe" style="width: 6%; text-align: right" title="Beginning balance">1,393,131</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Initial recognition as per Second Amended CAA</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--InitialRecognitionAsPerSecondAmendedCAA_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_z0DbVHksjHhj" style="text-align: right" title="Initial recognition as per Second Amended CAA">2,135,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--InitialRecognitionAsPerSecondAmendedCAA_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zKbgUjKWyKZ" style="text-align: right" title="Initial recognition as per Second Amended CAA">1,091,772</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--InitialRecognitionAsPerSecondAmendedCAA_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zHz47iuwgu14" style="text-align: right" title="Initial recognition as per Second Amended CAA">3,226,772</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--InitialRecognitionAsPerSecondAmendedCAA_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zFVNdK9219Ta" style="text-align: right" title="Initial recognition as per Second Amended CAA">-</td><td style="text-align: left"> </td><td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zz2uowQnzTXd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Initial recognition as per Second Amended CAA">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--InitialRecognitionAsPerSecondAmendedCAA_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zO9OB8LQbNKc" style="text-align: right" title="Initial recognition as per Second Amended CAA">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Benefit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--LossContingencyAccrualCarryingValuePeriodIncreaseDecrease_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zu5hFPTKlKEb" style="border-bottom: Black 1pt solid; text-align: right" title="Benefit">(177,917</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 id="xdx_98E_eus-gaap--LossContingencyAccrualCarryingValuePeriodIncreaseDecrease_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zOLoQ5viDF7b" style="border-bottom: Black 1pt solid; text-align: right" title="Benefit">-</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 id="xdx_984_eus-gaap--LossContingencyAccrualCarryingValuePeriodIncreaseDecrease_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_z8PgxUHSneS2" style="border-bottom: Black 1pt solid; text-align: right" title="Benefit">(177,917</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 id="xdx_98A_eus-gaap--LossContingencyAccrualCarryingValuePeriodIncreaseDecrease_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zPNISqbd0Ucf" style="border-bottom: Black 1pt solid; text-align: right" title="Benefit">-</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 id="xdx_989_eus-gaap--LossContingencyAccrualCarryingValuePeriodIncreaseDecrease_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zafilkaoZtpa" style="border-bottom: Black 1pt solid; text-align: right" title="Benefit">(1,393,131</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 id="xdx_983_eus-gaap--LossContingencyAccrualCarryingValuePeriodIncreaseDecrease_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zVQmGr1QSbOf" style="border-bottom: Black 1pt solid; text-align: right" title="Benefit">(1,393,131</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Ending balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zUcKPnRq4GF6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">1,957,083</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zLSNJ046OvFa" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">1,091,772</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zXEzFRkijSLl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">3,048,855</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zIte1PK36mDb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zQgjFBqoiFUg" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zgYOBuGAT9Sd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--StandreadyGuaranteeLiabilityCurrent_iI_zFXsQPMFCd03" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less: current portion</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">(711,667</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">(433,968</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">(1,145,635</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--StandreadyGuaranteeLiabilityNetNonCurrent_iI_z0Kz1layl6Al" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total non-current portion</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" title="Beginning balance">1,245,416</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance">657,804</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Beginning balance">1,903,220</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Beginning balance">-</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">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Beginning balance">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The following table summarizes the October 1, 2025, inception date, consolidated balance sheet impact of ASC 460 and ASC 326. Schedule of Balance Sheet Impact <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20251001__us-gaap--GuaranteeObligationsByNatureAxis__custom--ASC460Member_zFamyylaXpS" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 460</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_496_20251001__us-gaap--GuaranteeObligationsByNatureAxis__custom--ASC326Member_zTXPZ6ZheH31" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 326</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20251001_zexEZVnS3yIf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--CapitalizedContractCostNet_i01I_zDh0xXBRuAve" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Contract asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,135,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,091,772</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,226,772</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--FinancialIndemnificationLiabilities_i01I_zCYugiV9Jvgg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Financial indemnification 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">1,091,772</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,091,772</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--StandreadyGuaranteeLiabilityNet_i01I_zBF0pEAKP0Zk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stand-ready guarantee liability</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,135,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,135,000</td><td style="text-align: left"> </td></tr> </table>

2135000

1091772

3226772

1091772 1091772 2135000 2135000

<p id="xdx_89E_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zT2qglS6t2Xb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Schedule of Significant Unobservable Input <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="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Significant Unobservable Input</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Value</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: 80%; text-align: left; padding-bottom: 1pt">Pooled Probability of Default or PD (Ratings 2–5)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 16%; text-align: right"><span id="xdx_903_ecustom--GuaranteeObligationsLiquidationPercentage_pid_dp_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__srt--CreditRatingFitchAxis__custom--PooledPDMember_zLAEc5HfQdS8" title="Guarantor obligations, percentage">7.25</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Pooled Loss Given Default or LGD (inclusive of 13% cannabis qualitative premium)</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_90C_ecustom--GuaranteeObligationsLiquidationPercentage_pid_dp_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__srt--CreditRatingFitchAxis__custom--PooledLGDMember_z0mR0lsjIzHa" title="Guarantor obligations, percentage">35</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: 1pt">Tranche C PD (Rating 9, individually evaluated)</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_90E_ecustom--GuaranteeObligationsLiquidationPercentage_pid_dp_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__srt--CreditRatingFitchAxis__custom--TrancheCPDMember_zpCho8UAQfsd" title="Guarantor obligations, percentage">35</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: 1pt">Tranche C LGD on uncollateralized gap</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_90B_ecustom--GuaranteeObligationsLiquidationPercentage_pid_dp_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__srt--CreditRatingFitchAxis__custom--TrancheCLGDMember_zcO840O2WTa7" title="Guarantor obligations, percentage">50</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: 1pt">Stand-ready risk premium loading</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_902_ecustom--GuaranteeObligationsLossDescription_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__srt--CreditRatingFitchAxis__custom--StandRreadyRiskPremiumMember_zufu0jStoQ07" title="Guarantor obligations, loss description">120% of expected loss</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: 1pt">Discount rate</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_906_eus-gaap--ProductLiabilityContingencyAccrualDiscountRate_iI_pid_dp_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_ztyuh053qAF8" title="Discount rate">4.0</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: 1pt">Weighted average pay out year – Tranche A</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--GuarantorObligationTerm1_dtY_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--TrancheAMember_zo1BVcoBUCh3" title="Discount rate">4 years</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: 1pt">Weighted average pay out year – Tranche B</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_908_eus-gaap--GuarantorObligationTerm1_dtY_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--TrancheBMember_z07itrIyVQ25" title="Discount rate">3 years</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: 1pt">Weighted average pay out year – Tranche C</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_90E_eus-gaap--GuarantorObligationTerm1_dtY_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--TrancheCMember_zo8JQFNdRXW7" title="Discount rate">2 years</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: 1pt">Weighted average pay out year – Stand Ready Premium</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_905_eus-gaap--GuarantorObligationTerm1_dtY_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FinancialInstrumentAxis__custom--StandReadyPremiumMember_zXm9AjIPseF" title="Weighted avg payout year">3 years</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

0.0725 0.35 0.35 0.50 120% of expected loss

0.040

P4Y

P3Y

P2Y

P3Y

33800000

0.65

The indemnified portfolio is segmented into three tranches. Loans rated 9 or 10 are individually evaluated rather than included in the pooled analysis: Schedule of Expected Credit Loss Liability <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="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Tranche</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Ratings</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251231__us-gaap--AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis__us-gaap--FinanceReceivablesMember_zZCdHcZpEEJ1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Loan Balance</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Loss Method</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231__us-gaap--AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis__custom--FinanceReceivablesReserveMember_zHOEGwNUh6Gb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Reserve</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_iI_hus-gaap--InternalCreditAssessmentAxis__us-gaap--PassMember_zmBfiIU5FQrh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 25%; text-align: left; padding-bottom: 1pt">Tranche A - Pass Rated</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 14%; text-align: center; padding-bottom: 1pt">2–5</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left">$</td><td style="padding-bottom: 1pt; width: 10%; text-align: right">35,544,024</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="width: 25%; text-align: justify; padding-bottom: 1pt">Pooled; rates<span id="xdx_902_eus-gaap--LongTermDebtPercentageBearingFixedInterestRate_iI_pid_dp_uPure_c20251231__srt--RangeAxis__srt--MinimumMember__us-gaap--InternalCreditAssessmentAxis__us-gaap--PassMember_zWCznILsgB65"> 0.453%–<span id="xdx_90D_eus-gaap--LongTermDebtPercentageBearingFixedInterestRate_iI_pid_dp_uPure_c20251231__srt--RangeAxis__srt--MaximumMember__us-gaap--InternalCreditAssessmentAxis__us-gaap--PassMember_zWUDP2TClcwb">1.81%</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left">$</td><td style="padding-bottom: 1pt; width: 14%; text-align: right">406,066</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_iI_hus-gaap--InternalCreditAssessmentAxis__custom--ElevatedMember_ztoRVP3GxMTe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Tranche B - Elevated Risk</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">6–8</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">7,168,435</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: justify; padding-bottom: 1pt">Pooled; rates <span id="xdx_90C_eus-gaap--LongTermDebtPercentageBearingFixedInterestRate_iI_pid_dp_uPure_c20251231__srt--RangeAxis__srt--MinimumMember__us-gaap--InternalCreditAssessmentAxis__custom--ElevatedRiskMember_zU2i0u5UO3n2">3.17%–<span id="xdx_90F_eus-gaap--LongTermDebtPercentageBearingFixedInterestRate_iI_pid_dp_uPure_c20251231__srt--RangeAxis__srt--MaximumMember__us-gaap--InternalCreditAssessmentAxis__custom--ElevatedRiskMember_z2CXIw4X3Pf1">9.21%</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">296,304</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1_iI_hus-gaap--InternalCreditAssessmentAxis__us-gaap--SpecialMentionMember_zeaiYmDqNiXh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Tranche C - Specific Risk</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">9</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">9,346,394</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: justify; padding-bottom: 1pt">Individual evaluation</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">389,402</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iI_zorPs2n9KpD6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </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">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">52,058,853</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,091,772</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

35544024

0.00453

0.0181

406066

7168435

0.0317

0.0921

296304

9346394

389402

52058853

1091772

3400000

44100000

52100000

200000

1400000

The following table summarizes the changes of the contract asset for the year ended December 31, 2025 and December 31, 2024: Schedule of Contract Asset <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zBs5SmpLAqUe" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_znWZ2ZX78CZf" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zAfyzCyJ1Ql4" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zbHnLRetGrGl" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zWbUfdWj01da" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49F_20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zIJThZFBODue" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC460</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; font-weight: bold; text-align: center">ASC 326</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; font-weight: bold; text-align: center">Total</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; font-weight: bold; text-align: center">ASC 460</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; font-weight: bold; text-align: center">ASC 326</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; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Beginning balance</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ContractWithCustomerAssetNet_iS_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zFAcNrQ9TVE8" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ContractWithCustomerAssetNet_iS_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zELF7XGu12S2" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ContractWithCustomerAssetNet_iS_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_z8xtJsxPOyr5" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ContractWithCustomerAssetNet_iS_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_z9QXtsAol3o" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ContractWithCustomerAssetNet_iS_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zKj7GivWr0kb" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ContractWithCustomerAssetNet_iS_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zD3asQ2hsuWa" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Initial recognition as per Second Amended CAA</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_ecustom--ContractWithCustomerAssetInitialRecognition_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zkp8Fsh2oaK6" style="width: 6%; text-align: right" title="Initial recognition as per Second Amended CAA">2,135,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_ecustom--ContractWithCustomerAssetInitialRecognition_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_z73GCcTZRCr" style="width: 6%; text-align: right" title="Initial recognition as per Second Amended CAA">1,091,772</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--ContractWithCustomerAssetInitialRecognition_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zaKiDWnfbVN4" style="width: 6%; text-align: right" title="Initial recognition as per Second Amended CAA">3,226,772</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--ContractWithCustomerAssetInitialRecognition_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zxRSB0CJp8td" style="width: 6%; text-align: right" title="Initial recognition as per Second Amended CAA">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_ecustom--ContractWithCustomerAssetInitialRecognition_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zifmX4RxdY7l" style="width: 6%; text-align: right" title="Initial recognition as per Second Amended CAA">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--ContractWithCustomerAssetInitialRecognition_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zuXVBOU99DNf" style="width: 6%; text-align: right" title="Initial recognition as per Second Amended CAA">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--ContractWithCustomerAssetAmortization_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zIXvzHvBlnA5" style="border-bottom: Black 1pt solid; text-align: right" title="Amortization">(85,401</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 id="xdx_982_ecustom--ContractWithCustomerAssetAmortization_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zpYWJsk4AKXf" style="border-bottom: Black 1pt solid; text-align: right" title="Amortization">(43,671</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 id="xdx_98C_ecustom--ContractWithCustomerAssetAmortization_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zlZYaHxEvPnl" style="border-bottom: Black 1pt solid; text-align: right" title="Amortization">(129,072</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 id="xdx_98F_ecustom--ContractWithCustomerAssetAmortization_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zZMhH5SnJfU1" style="border-bottom: Black 1pt solid; text-align: right" title="Amortization">-</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 id="xdx_98D_ecustom--ContractWithCustomerAssetAmortization_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zOPzotrSol85" style="border-bottom: Black 1pt solid; text-align: right" title="Amortization">-</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 id="xdx_985_ecustom--ContractWithCustomerAssetAmortization_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zvdrnhRw3w2h" style="border-bottom: Black 1pt solid; text-align: right" title="Amortization">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Ending balance</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ContractWithCustomerAssetNet_iE_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zvlN6ScA5wZ3" style="text-align: right" title="Ending balance">2,049,599</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ContractWithCustomerAssetNet_iE_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zy3vodANTTQ5" style="text-align: right" title="Ending balance">1,048,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ContractWithCustomerAssetNet_iE_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zQk5olSpr5ei" style="text-align: right" title="Ending balance">3,097,700</td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--ContractWithCustomerAssetNet_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zsSFKMtHwBW2" style="font-weight: bold; text-align: right" title="Ending balance">-</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 id="xdx_98D_eus-gaap--ContractWithCustomerAssetNet_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zsQVtqsit9P3" style="font-weight: bold; text-align: right" title="Ending balance">-</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 id="xdx_980_eus-gaap--ContractWithCustomerAssetNet_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_z6UUanwLrMTb" style="font-weight: bold; text-align: right" title="Ending balance">-</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ContractWithCustomerAssetNetCurrent_iNI_di_zPFznweZCHN3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: current portion</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">(341,600</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">(174,683</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">(516,283</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: right">-</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: right">-</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: right">-</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ContractWithCustomerAssetNetNoncurrent_iI_zd36IrmDjoF1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total non-current portion</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">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,707,999</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">873,418</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">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,581,417</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</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><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>

2135000 1091772 3226772 -85401 -43671 -129072

2049599

1048101

3097700

341600

174683

516283

1707999

873418

2581417

The following table summarizes the changes of the liabilities for the year ended December 31, 2025 and December 31, 2024: Summary of Movement of Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zDoE3tumibNj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC460</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zlZcMhIkN85f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 326</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zqb7J9SG39y5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zGJsjJkF8Mt8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 460</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zTy1aBcN6KPj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC 326</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zrlwPiEm1LNk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Year Ended December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">ASC460</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; font-weight: bold; text-align: center">ASC 326</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; font-weight: bold; text-align: center">Total</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; font-weight: bold; text-align: center">ASC 460</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; font-weight: bold; text-align: center">ASC 326</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; font-weight: bold; text-align: center">Total</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: 40%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--LossContingencyAccrualAtCarryingValue_iS_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_z1xo4KHceGJ" style="width: 6%; text-align: right" title="Beginning balance">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--LossContingencyAccrualAtCarryingValue_iS_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zI0cUKyTiVD8" style="width: 6%; text-align: right" title="Beginning balance">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--LossContingencyAccrualAtCarryingValue_iS_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zs1b6V4nN8ig" style="width: 6%; text-align: right" title="Beginning balance">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--LossContingencyAccrualAtCarryingValue_iS_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zRT47QROcEVc" style="width: 6%; text-align: right" title="Beginning balance">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--LossContingencyAccrualAtCarryingValue_iS_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zAPbWRJ4Pl71" style="width: 6%; text-align: right" title="Beginning balance">1,393,131</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--LossContingencyAccrualAtCarryingValue_iS_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zWqI7q6UXDYe" style="width: 6%; text-align: right" title="Beginning balance">1,393,131</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Initial recognition as per Second Amended CAA</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--InitialRecognitionAsPerSecondAmendedCAA_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_z0DbVHksjHhj" style="text-align: right" title="Initial recognition as per Second Amended CAA">2,135,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--InitialRecognitionAsPerSecondAmendedCAA_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zKbgUjKWyKZ" style="text-align: right" title="Initial recognition as per Second Amended CAA">1,091,772</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--InitialRecognitionAsPerSecondAmendedCAA_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zHz47iuwgu14" style="text-align: right" title="Initial recognition as per Second Amended CAA">3,226,772</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--InitialRecognitionAsPerSecondAmendedCAA_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zFVNdK9219Ta" style="text-align: right" title="Initial recognition as per Second Amended CAA">-</td><td style="text-align: left"> </td><td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zz2uowQnzTXd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Initial recognition as per Second Amended CAA">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--InitialRecognitionAsPerSecondAmendedCAA_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zO9OB8LQbNKc" style="text-align: right" title="Initial recognition as per Second Amended CAA">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Benefit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--LossContingencyAccrualCarryingValuePeriodIncreaseDecrease_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zu5hFPTKlKEb" style="border-bottom: Black 1pt solid; text-align: right" title="Benefit">(177,917</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 id="xdx_98E_eus-gaap--LossContingencyAccrualCarryingValuePeriodIncreaseDecrease_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zOLoQ5viDF7b" style="border-bottom: Black 1pt solid; text-align: right" title="Benefit">-</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 id="xdx_984_eus-gaap--LossContingencyAccrualCarryingValuePeriodIncreaseDecrease_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_z8PgxUHSneS2" style="border-bottom: Black 1pt solid; text-align: right" title="Benefit">(177,917</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 id="xdx_98A_eus-gaap--LossContingencyAccrualCarryingValuePeriodIncreaseDecrease_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zPNISqbd0Ucf" style="border-bottom: Black 1pt solid; text-align: right" title="Benefit">-</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 id="xdx_989_eus-gaap--LossContingencyAccrualCarryingValuePeriodIncreaseDecrease_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zafilkaoZtpa" style="border-bottom: Black 1pt solid; text-align: right" title="Benefit">(1,393,131</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 id="xdx_983_eus-gaap--LossContingencyAccrualCarryingValuePeriodIncreaseDecrease_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zVQmGr1QSbOf" style="border-bottom: Black 1pt solid; text-align: right" title="Benefit">(1,393,131</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Ending balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zUcKPnRq4GF6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">1,957,083</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zLSNJ046OvFa" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">1,091,772</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zXEzFRkijSLl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">3,048,855</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460Member_zIte1PK36mDb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC326Member_zQgjFBqoiFUg" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--LossContingencyAccrualAtCarryingValue_iE_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ASC460AndASC326TotalMember_zgYOBuGAT9Sd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--StandreadyGuaranteeLiabilityCurrent_iI_zFXsQPMFCd03" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less: current portion</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">(711,667</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">(433,968</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">(1,145,635</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--StandreadyGuaranteeLiabilityNetNonCurrent_iI_z0Kz1layl6Al" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total non-current portion</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance">1,245,416</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance">657,804</td><td style="padding-bottom: 2.5pt; 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">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Beginning balance">1,903,220</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance">-</td><td style="padding-bottom: 2.5pt; 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">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Beginning balance">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Beginning balance">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

1393131

2135000 1091772 3226772

-177917

-1393131

1957083

1091772

3048855

-711667 -433968 -1145635 1245416 657804 1903220

Note 9 - Revenue The following table presents the Company’s revenue disaggregated by type for the years ended December 31, 2025 and 2024: Schedule of Disaggregated Revenue <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20251231_z2lRXtJxxXef" style="border-bottom: Black 1pt solid; 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" id="xdx_49B_20240101__20241231_z3pEyYCd2a88" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; 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; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hcustom--StatementOfIncomeLocationBalanceAxis__custom--AccountFeeIncomeMember_zBbjxyAs4JBd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Account fee income</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,963,097</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,447,201</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hcustom--StatementOfIncomeLocationBalanceAxis__custom--LoanInterestIncomeMember_zXQnFCflkRwj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loan program income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,478,082</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,625,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hcustom--StatementOfIncomeLocationBalanceAxis__custom--InvestmentsIncomeMember_zlmzUfKtxdag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Investment income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,155,433</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,092,863</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hcustom--StatementOfIncomeLocationBalanceAxis__custom--SafeHarborProgramIncomeMember_zLNoD18PlV6j" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Safe Harbor Program income</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">76,920</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">76,920</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_z4Uv0Eh3HzR5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,673,532</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,242,560</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Account fee income consists of fees earned from cannabis-related businesses maintaining accounts with the Company’s financial institution partners, including deposit account fees, account activity fees, and onboarding income. These fees are recognized periodically in accordance with the fee schedules established with financial institution partners. Account fee income also includes merchant income earned through referral arrangements with third-party payment processors, under which the Company receives a percentage of net revenue generated by referred merchants, recognized as earned. Loan program income represents the Company’s allocated share of interest earned on cannabis-related business loans originated by PCCU. Under the First Amended Commercial Alliance Agreement, effective January 1, 2025, the Company’s share of loan program income is determined by a loan yield allocation formula that incorporates the Constant Maturity U.S. Treasury Rate published by the Federal Reserve, along with a proprietary risk rating formula to determine the allocation between the Company and PCCU. Loan program income is recognized over the loan term as earned. Investment income represents the Company’s share of interest earned on net investable cannabis-related business deposit balances held at PCCU, recognized monthly based on the average net daily deposit balance. Under the CAA, investment income was reduced by an investment hosting fee paid to PCCU. Under the First Amended CAA, effective January 1, 2025, the hosting investment fee was eliminated and the Company receives all investment income earned on CRB funds invested on its behalf by PCCU. Safe Harbor Program income represents fees earned under the Company’s Master Program Agreement, which grants licensees a non-exclusive, non-transferable right to implement and utilize the Safe Harbor Program. Revenue is recognized over the term of the agreement as the performance obligation is satisfied.

The following table presents the Company’s revenue disaggregated by type for the years ended December 31, 2025 and 2024: Schedule of Disaggregated Revenue <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20251231_z2lRXtJxxXef" style="border-bottom: Black 1pt solid; 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" id="xdx_49B_20240101__20241231_z3pEyYCd2a88" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">Year Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; 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; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hcustom--StatementOfIncomeLocationBalanceAxis__custom--AccountFeeIncomeMember_zBbjxyAs4JBd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Account fee income</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,963,097</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,447,201</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hcustom--StatementOfIncomeLocationBalanceAxis__custom--LoanInterestIncomeMember_zXQnFCflkRwj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loan program income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,478,082</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,625,576</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hcustom--StatementOfIncomeLocationBalanceAxis__custom--InvestmentsIncomeMember_zlmzUfKtxdag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Investment income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,155,433</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,092,863</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hcustom--StatementOfIncomeLocationBalanceAxis__custom--SafeHarborProgramIncomeMember_zLNoD18PlV6j" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Safe Harbor Program income</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">76,920</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">76,920</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_z4Uv0Eh3HzR5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,673,532</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,242,560</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

3963097

6447201

2478082

6625576

1155433

2092863

76920

7673532

15242560

<p id="xdx_807_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zeg8llRrPILe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: left; text-indent: -0.5in">Note 10 - Related Party Transactions The Company identifies related parties in accordance with ASC 850 and Rule 1-02(u) of Regulation S-X. Partner Colorado Credit Union (“PCCU”) - Related Party Status PCCU is a related party because it held approximately <span id="xdx_90A_ecustom--PercentageOfCommonStockHeld_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PartnerColoradoCreditUnionMember_zbQfP79PSMag" title="Common stock held by related party">25.2% and <span id="xdx_907_ecustom--PercentageOfCommonStockHeld_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PartnerColoradoCreditUnionMember_zV0wwX3wlG8l" title="Common stock held by related party">38.8% of the Company’s Common Stock as of December 31, 2025 and 2024, respectively. PCCU is also the largest holder of the Company’s Series B Convertible Preferred Stock (approximately 43% of outstanding shares and associated warrants) and holds the majority of the Company’s cash deposits. These factors give PCCU the ability to significantly influence the Company’s management and operating policies. Debt Cancellation Agreement On September 30, 2025, the Company and PCCU entered into a Debt Cancellation Agreement under which the approximately $<span id="xdx_90D_eus-gaap--DebtDefaultLongtermDebtAmount_iI_pn5n6_c20250930__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredPromissoryNoteMember__us-gaap--TypeOfArrangementAxis__custom--DebtCancellationAgreementMember_zIWNzFXnOxlg" title="Outstanding principal balance">10.7 million outstanding principal balance on the Senior Secured Promissory Note (originally dated March 29, 2023) was fully satisfied. In exchange, PCCU received: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_907_eus-gaap--ConversionOfStockSharesConverted1_c20250930__20250930__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PartnerColoradoCreditUnionMember_zIwZmQtFLEQ5" title="Conversion of shares">13,436 shares of Series B Convertible Preferred Stock; and</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">A Series B Warrant to purchase <span id="xdx_90E_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20250930__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PartnerColoradoCreditUnionMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zKZdImkWowUl" title="Debt conversion shares issued">865,200 shares of Common Stock at an exercise price of $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PartnerColoradoCreditUnionMember_z7DcbYfeHoz4" title="Warrants exercise price">7.7644 per share.</td></tr></table> PCCU’s conversion and warrant exercise rights are subject to a <span id="xdx_90C_eus-gaap--DerivativeExchangeRateCap1_iI_pid_dp_uPure_c20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PartnerColoradoCreditUnionMember_zwqpPeA6hlca" title="Beneficial ownership cap">4.99% beneficial ownership cap. See Note 11 for the accounting treatment of this transaction. Commercial Alliance Agreement (“CAA”) - Major Customer Concentration The Company derives substantially all of its revenue from services provided to PCCU. Revenue under the CAA was $6.7 million and $12.7 million represented <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--TypeOfArrangementAxis__custom--CommercialAllianceAgreementMember_zZ9mSViAJHFg">86.7% and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--TypeOfArrangementAxis__custom--CommercialAllianceAgreementMember_zeTjWTvlOsJk">83.5% of total revenue for the years ended December 31, 2025 and 2024, respectively. Amounts due from PCCU represented <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--TypeOfArrangementAxis__custom--CommercialAllianceAgreementMember_zeVHnbfkDD53">97.0% and <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--TypeOfArrangementAxis__custom--CommercialAllianceAgreementMember_zxDWz6Vcg1cc">87.8% of total accounts receivable at those dates. The loss of, or a material change to, this relationship could have a material adverse effect on the Company’s results of operations and financial condition. Agreement history and key terms: Schedule of Agreement History and Key Terms <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 15%">Version</td> <td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 20%">Effective Date</td> <td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 61%">Key Terms</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Original CAA</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">March 29, 2023</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Per-account servicing fees ($26.08–$28.69/month in 2024); Company indemnified PCCU against loan losses; investment income split 75% Company / 25% PCCU.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">First Amended CAA</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">December 31, 2024</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Term extended to December 31, 2028; indemnification eliminated; per-account fees replaced by a fixed asset hosting fee (0.01 × average daily deposit balance); Company receives 100% of investment income on CRB funds; loan program income split introduced using a Constant Maturity Treasury-based yield allocation formula which was approximately 35%.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Second Amended CAA</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">October 1, 2025</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material economic terms agreed on or about October 1, 2025, following completion of the September 2025 Recapitalization; written agreement formally executed on February 4, 2026 following resolution of procedural and documentation matters only. Term extended to December 31, 2031; Company’s loan program income share increased from approximately 35% to up to 65%; indemnification reinstated at the Company’s 65% income share, supported by a minimum cash reserve tied to PCCU’s financial indemnification liability estimate; asset hosting fee changed to a graduated (tiered) structure; NASDAQ compliance provision added (see below).</td></tr> </table> NASDAQ compliance provision. If maintaining the Company’s NASDAQ listing requires a reduction in its indemnification percentage, the loan program income share will adjust downward by a corresponding amount. The Company is actively monitoring its NASDAQ compliance obligations in connection with this provision. See Note 20 - Commitments and Contingencies. Second Amended CAA. Although the Second Amended CAA was formally executed on February 4, 2026, after the balance sheet date, the Company and PCCU reached agreement on the material economic terms on or about October 1, 2025, following completion of the September 2025 Recapitalization. The intervening period between October 1, 2025 and the February 4, 2026 execution date involved only procedural and documentation matters that did not affect the substance of the agreed terms. Accordingly, the Company has given effect to the Second Amended CAA from October 1, 2025, in accordance with ASC 606-10-25-10 through 25-13, and the agreement’s financial statement impacts are treated as a Type 1 recognized subsequent event under ASC 855-10-25-1, as the economic terms relate to conditions existing as of December 31, 2025. Accordingly, the financial effects were recognized in the financial statements for the year ended December 31, 2025, including: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">A retroactive reduction in asset hosting fees of approximately $0.06 million (difference between the First Amended CAA flat rate of 1.00% and the tiered rates under the Second Amended CAA for Q4 2025); and</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Recognition of approximately $0.4 million in incremental loan program income for Q4 2025, reflecting the increase in the Company’s share from approximately 35% up to 65%.</td></tr></table> Related Party Balances The following amounts with PCCU are included in the consolidated balance sheets: Schedule of Related Party Balances from Balance Sheet <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zeUzWWAXzNef" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zPm6jXZn6Hkg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zvaDQMT3oj5j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 0.75pt">Cash and cash equivalents</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,779,040</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,202,895</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccountsReceivableNetCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z6BmrVNz8Xj5" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,009,483</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">968,023</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccountsPayableCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zgU42Kd4LDZd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171,365</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75,608</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--SeniorNotes_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zZ9pIJzLo2Mk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Promissory Note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,004,173</td><td style="text-align: left"> </td></tr> </table> The Company evaluates its related party relationships at each reporting date in accordance with ASC 850 and SEC Regulation S-X Rule 4-08(k).

0.252 0.388

10700000

13436

865200

7.7644

0.0499

6700000

12700000

0.867

0.835

0.970

0.878

Agreement history and key terms: Schedule of Agreement History and Key Terms <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 15%">Version</td> <td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 20%">Effective Date</td> <td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 61%">Key Terms</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Original CAA</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">March 29, 2023</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Per-account servicing fees ($26.08–$28.69/month in 2024); Company indemnified PCCU against loan losses; investment income split 75% Company / 25% PCCU.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">First Amended CAA</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">December 31, 2024</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Term extended to December 31, 2028; indemnification eliminated; per-account fees replaced by a fixed asset hosting fee (0.01 × average daily deposit balance); Company receives 100% of investment income on CRB funds; loan program income split introduced using a Constant Maturity Treasury-based yield allocation formula which was approximately 35%.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Second Amended CAA</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">October 1, 2025</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Material economic terms agreed on or about October 1, 2025, following completion of the September 2025 Recapitalization; written agreement formally executed on February 4, 2026 following resolution of procedural and documentation matters only. Term extended to December 31, 2031; Company’s loan program income share increased from approximately 35% to up to 65%; indemnification reinstated at the Company’s 65% income share, supported by a minimum cash reserve tied to PCCU’s financial indemnification liability estimate; asset hosting fee changed to a graduated (tiered) structure; NASDAQ compliance provision added (see below).</td></tr> </table> 2023-03-29 Per-account servicing fees ($26.08–$28.69/month in 2024); Company indemnified PCCU against loan losses; investment income split 75% Company / 25% PCCU. 2024-12-31 Term extended to December 31, 2028; indemnification eliminated; per-account fees replaced by a fixed asset hosting fee (0.01 × average daily deposit balance); Company receives 100% of investment income on CRB funds; loan program income split introduced using a Constant Maturity Treasury-based yield allocation formula which was approximately 35%. 2025-10-01 Material economic terms agreed on or about October 1, 2025, following completion of the September 2025 Recapitalization; written agreement formally executed on February 4, 2026 following resolution of procedural and documentation matters only. Term extended to December 31, 2031; Company’s loan program income share increased from approximately 35% to up to 65%; indemnification reinstated at the Company’s 65% income share, supported by a minimum cash reserve tied to PCCU’s financial indemnification liability estimate; asset hosting fee changed to a graduated (tiered) structure; NASDAQ compliance provision added (see below). 60000.00

400000

The following amounts with PCCU are included in the consolidated balance sheets: Schedule of Related Party Balances from Balance Sheet <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="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zeUzWWAXzNef" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zPm6jXZn6Hkg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zvaDQMT3oj5j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 0.75pt">Cash and cash equivalents</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,779,040</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,202,895</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccountsReceivableNetCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z6BmrVNz8Xj5" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,009,483</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">968,023</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccountsPayableCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zgU42Kd4LDZd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171,365</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75,608</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--SeniorNotes_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zZ9pIJzLo2Mk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Senior Secured Promissory Note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,004,173</td><td style="text-align: left"> </td></tr> </table>

6779040

2202895

1009483

968023

171365

75608

11004173

Note 11- Senior Secured Promissory Note and Debt Cancellation Agreement with PCCU The outstanding amounts under the Senior Secured Promissory Note are as follows: Schedule of Outstanding Amounts under Senior Secured Promissory Note <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="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zNBPX9qQ61ai" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20241231_zr6dYojATRC" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--SeniorNotesCurrent_iI_maSNzT4f_zLN1chKEGObl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Senior Secured Promissory Note -current</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">255,765</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--SeniorLongTermNotes_iI_maSNzT4f_zCmn6VFfLAG" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Senior Secured Promissory Note -long-term</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">10,748,408</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--SeniorNotes_iTI_mtSNzT4f_zltj8o4cg3ca" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total</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">11,004,173</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company and PCCU entered into a Senior Secured Promissory Note and Security Agreement (together, the “PCCU Note”) on March 29, 2023, under which PCCU agreed to lend $14.5 million to the Company. On March 1, 2025, SHF executed an Amended and Restated Senior Secured Promissory Note with PCCU, replacing the original note dated March 29, 2023. The principal balance on the amended note remained $10.7 million, accruing interest at 4.25% annually. This amended and restated agreement allows for interest-only payments until January 5, 2027, postponing principal payments, with full repayment due by October 5, 2030 On September 30, 2025, the Company entered into a Debt Cancellation Agreement with PCCU. Under the terms of the Debt Cancellation Agreement, the outstanding balance of $10.7 million due under the Loan Agreements was deemed fully repaid and satisfied. In exchange, PCCU received: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_907_eus-gaap--ConversionOfStockSharesConverted1_c20250930__20250930__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PartnerColoradoCreditUnionMember_zh5wZyxqIcYf" title="Conversion of shares">13,436 shares of the Company’s Series B Convertible Preferred Stock, and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">a warrant (the “Series B warrant”) to purchase <span id="xdx_905_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20250930__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PartnerColoradoCreditUnionMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_ztJ8uaRahkh5" title="Debt conversion shares issued">865,200 shares of the Company’s Common Stock, subject to adjustment as provided in the warrant agreement.</td></tr> </table> The transaction was accounted for under ASC 470-50, Debt – Modifications and Extinguishments. The fair value of the Series B Convertible Preferred Stock and Series B Warrants to purchase Common Stock issued was estimated at $800 per unit, which represented the cash price paid by unaffiliated third-party investors on the same day for identical instruments in accordance with ASC 505, Equity Issuances for Non-Cash Consideration. Because the total fair value of the equity instruments issued equaled the carrying amount of the debt extinguished, the Company did not recognize a gain (loss) on extinguishment of debt. As a result of the Debt Cancellation Agreement, there was no outstanding balance on the Senior Secured Promissory Note as of December 31, 2025.

The outstanding amounts under the Senior Secured Promissory Note are as follows: Schedule of Outstanding Amounts under Senior Secured Promissory Note <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="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zNBPX9qQ61ai" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20241231_zr6dYojATRC" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--SeniorNotesCurrent_iI_maSNzT4f_zLN1chKEGObl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Senior Secured Promissory Note -current</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">255,765</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--SeniorLongTermNotes_iI_maSNzT4f_zCmn6VFfLAG" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Senior Secured Promissory Note -long-term</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">10,748,408</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--SeniorNotes_iTI_mtSNzT4f_zltj8o4cg3ca" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total</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">11,004,173</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

255765

10748408

11004173

14500000

10700000

0.0425

10700000

13436

865200

800

Note 12- Convertible Promissory Notes On August 27, 2025 and September 9, 2025, the Company issued unsecured Convertible Promissory Notes (the “Notes”) to accredited investors in two closings under identical terms. The Notes had an aggregate principal amount of $0.7 million, an original issue discount (“OID”) of <span id="xdx_90B_eus-gaap--DebtInstrumentRedemptionPricePercentage_pid_dp_uPure_c20250827__20250827__us-gaap--DebtInstrumentAxis__custom--UnsecuredConvertiblePromissoryNotesMember_zcigZmOJKFv9" title="Original issue discount"><span id="xdx_90B_eus-gaap--DebtInstrumentRedemptionPricePercentage_pid_dp_uPure_c20250909__20250909__us-gaap--DebtInstrumentAxis__custom--UnsecuredConvertiblePromissoryNotesMember_zAUN1e3rAiPc" title="Original issue discount">20%, and a maturity date of September 9, 2026. The Company received aggregate cash proceeds of $<span id="xdx_901_eus-gaap--ProceedsFromConvertibleDebt_pn5n6_c20250827__20250827__us-gaap--DebtInstrumentAxis__custom--UnsecuredConvertiblePromissoryNotesMember_zTkPxKbytgQ9" title="Proceeds from convertible debt"><span id="xdx_90B_eus-gaap--ProceedsFromConvertibleDebt_pn5n6_c20250909__20250909__us-gaap--DebtInstrumentAxis__custom--UnsecuredConvertiblePromissoryNotesMember_z0cJesX04And" title="Proceeds from convertible debt">0.6 million, with the $0.1 million difference representing the OID. The Notes did not bear stated interest; the OID represented the investors’ entire yield and was recognized as interest expense over the term of the Notes under ASC 835-30. On September 30, 2025, prior to their maturity date, the Notes were exchanged for Series B Convertible Preferred Stock and Series B Warrants to purchase Common Stock (together, the “Series B instruments”) in connection with the Company’s broader recapitalization. The Series B instruments were issued to the noteholders at $800 per unit, the same price paid by unaffiliated third-party investors for identical instruments on the same date. The transaction was accounted for as an extinguishment under ASC 470-50. The carrying amount of the Notes at the exchange date was $0.7 million. The fair value of the Series B instruments issued $0.8 million exceeded the carrying amount of the Notes extinguished $0.7 million. Accordingly, the total financing cost associated with the Notes consisted of (i) the $0.1 million OID recognized as interest expense over the period from issuance to exchange, and (ii) the $<span id="xdx_905_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn5n6_c20250101__20251231__us-gaap--DebtInstrumentAxis__custom--UnsecuredConvertiblePromissoryNotesMember_zMiHBF3VYefi" title="Gain (loss) on extinguishment of debt">0.1 million net loss on extinguishment recognized upon the exchange of the Notes for Series B instruments, reflecting the excess of the fair value of equity issued over the carrying amount of the debt extinguished.

700000

0.20

2026-09-09

600000

100000

800

700000

800000

700000

100000

Note 13 - Leases The Company has a non-cancellable operating lease for its corporate office space in Golden, Colorado which qualifies for capitalization under ASC 842 Leases. As of December 31, 2025, the Golden, Colorado lease has a remaining term of approximately three-and-two-quarter years and includes an option to extend for up to ten additional years; however, the extension option is not recognized as part of the right-of-use asset as it is not reasonably certain to be exercised. As of December 31, 2025, and December 31, 2024, the net right-of-use asset “ROU” recorded under the operating lease was $0.5 million and $0.7 million, respectively, and the corresponding lease liability was $0.7 million and $0.9 million, respectively. During the third quarter of 2025, the property owner of the Golden, Colorado facility became subject to a court-appointed receivership. Throughout the receivership period, the Company continued to occupy the premises and made all rental payments in accordance with the existing lease terms. During the fourth quarter of 2025, the receivership process concluded with the sale of the property to a new owner. The Company’s lease was assumed by the new property owner and continues in full force and effect under its existing terms and conditions. The change in property ownership did not result in a lease modification, reassignment, or early termination, and had no material impact on the Company’s operations or financial position. Management evaluated the assumption of the lease by the new owner under ASC 842-10-35 and concluded that the event did not constitute a lease modification requiring remeasurement. No impairment of the right-of-use asset was identified in connection with this matter. As of December 31, 2025, management has not identified any impairment indicators related to the ROU asset, and no changes to the lease term or measurement have been recorded. The lease was not modified as a result of the new land lord. The Company will continue to monitor the status of the receivership and evaluate whether the event results in a lease modification, remeasurement, or impairment in future periods in accordance with ASC 842-10-35. The Company analyzes contracts above certain thresholds to identify leases and lease components. Lease and non-lease components are not separated for facility space leases. The Company uses its contractual borrowing rate to determine lease discount rates when an implicit rate is not available. Lease cost for the year ended December 31, 2025, and December 31, 2024, included in consolidated statements of operations, is as follows: Schedule of Lease Cost <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250101__20251231_zoNIHSfZFWsk" style="border-bottom: Black 1pt solid; 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" id="xdx_49B_20240101__20241231_zAcFMkZ4oum8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">December 31</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; 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; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--LeaseCost_mtLCzHDl_zSXv5zxFoUd2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 2.5pt">Operating lease cost</td><td style="width: 2%; 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: 16%; text-align: right">232,773</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">258,477</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The following represents the activity for the right of use assets: Schedule of Right of Use Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20251231_zmjGyMvKQQcb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240101__20241231_z3uUHVWuOg8b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseRightOfUseAsset_iS_zHI241tQHIuh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">703,524</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">859,861</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_di_zeeyY2yISJxh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amortization charge for the period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(156,338</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(156,337</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseRightOfUseAsset_iE_zSEVXPGGtcmb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">547,186</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">703,524</td><td style="padding-bottom: 2.5pt; 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">Other information relating to the operating lease is as follows:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="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> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="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">Weighted average remaining lease term in years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.4</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.9</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_890_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zgBPImkhQeM2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Future minimum lease payments as of December 31, 2025 are as follows: Schedule of Future Minimum Lease Payments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Year</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20251231_zn6vbZT0oro5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzPgz_zG4TEZD30h1e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">222,275</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzPgz_z69kYTmUCt9k" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">226,705</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_maLOLLPzPgz_zLtICnGnVWH5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">231,216</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_maLOLLPzPgz_zVn8xIFsVnM5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</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">117,709</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzPgz_z1MGKq48Qy0d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">797,905</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iI_z2pZ6ptXR9N7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less: imputed interest</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">87,390</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeaseLiability_iI_zF78OJ5y6hh7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">710,515</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityCurrent_iI_zYMkLSM7T5za" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less: current portion</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">181,963</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_z07dkbToixpg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Non-current portion of 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">528,552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

500000

700000

900000

Schedule of Lease Cost <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250101__20251231_zoNIHSfZFWsk" style="border-bottom: Black 1pt solid; 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" id="xdx_49B_20240101__20241231_zAcFMkZ4oum8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">December 31</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; 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; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--LeaseCost_mtLCzHDl_zSXv5zxFoUd2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 2.5pt">Operating lease cost</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">232,773</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">258,477</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

232773

258477

The following represents the activity for the right of use assets: Schedule of Right of Use Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20251231_zmjGyMvKQQcb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240101__20241231_z3uUHVWuOg8b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseRightOfUseAsset_iS_zHI241tQHIuh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">703,524</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">859,861</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_iN_di_zeeyY2yISJxh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amortization charge for the period</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">(156,338</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">(156,337</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseRightOfUseAsset_iE_zSEVXPGGtcmb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">547,186</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">703,524</td><td style="padding-bottom: 2.5pt; 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">Other information relating to the operating lease is as follows:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="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> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="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">Weighted average remaining lease term in years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.4</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.9</td><td style="text-align: left">%</td></tr> </table>

703524

859861

156338

156337

547186

703524

P3Y6M

P2Y4M24D

0.069

<p id="xdx_890_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zgBPImkhQeM2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">Future minimum lease payments as of December 31, 2025 are as follows: Schedule of Future Minimum Lease Payments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Year</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20251231_zn6vbZT0oro5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzPgz_zG4TEZD30h1e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">222,275</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzPgz_z69kYTmUCt9k" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">226,705</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_maLOLLPzPgz_zLtICnGnVWH5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">231,216</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_maLOLLPzPgz_zVn8xIFsVnM5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</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">117,709</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzPgz_z1MGKq48Qy0d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">797,905</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iI_z2pZ6ptXR9N7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less: imputed interest</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">87,390</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeaseLiability_iI_zF78OJ5y6hh7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">710,515</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityCurrent_iI_zYMkLSM7T5za" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less: current portion</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">181,963</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_z07dkbToixpg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Non-current portion of 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">528,552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

222275

226705

231216

117709

797905

87390

710515

181963

528552

Note 14 - Earnings Per Share Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for potentially dilutive securities. Net loss attributable to common stockholders represents net loss adjusted for deemed dividends on preferred stock. When the Company redeems shares of Series B Convertible Preferred Stock, the excess of the cash redemption price paid over the carrying value of the shares redeemed is treated as a deemed dividend to the preferred stockholders. This deemed dividend is not recognized in the consolidated statements of operations but is deducted from net loss in computing net loss attributable to common stockholders for purposes of the basic and diluted loss per share calculation. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common shares and potentially dilutive securities outstanding for the period. For the Company’s diluted loss per share calculation, the Company uses the “if-converted method” for the Series B Convertible Preferred Stock and the “treasury stock method” for warrants and stock options. The Company applies the more dilutive of the two-class method or the if-converted / treasury stock method for each class of potentially dilutive instruments. Because the Company incurred a net loss in both periods presented, all potentially dilutive securities have been excluded from the computation of diluted net loss per share as their inclusion would be anti-dilutive. Accordingly, basic and diluted weighted-average shares outstanding are identical for both periods presented. During the year ended December 31, 2025, the Company redeemed <span id="xdx_90E_ecustom--StockIssuedDuringPeriodSharesRedemptionOfConvertiblePreferredStock_pid_di_c20250101__20251231__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember_zLgCyKf8uJl8" title="Conversion of shares">244 shares of its Series B Convertible Preferred Stock for total cash consideration of $<span id="xdx_907_ecustom--StockIssuedDuringPeriodValueRedemptionOfConvertiblePreferredStock_pn5n6_c20250101__20251231__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember_zBOLYJXmxf5h" title="Redemption of series B convertible preferred stock">0.5 million, pursuant to the mandatory use-of-proceeds provision of its ELOC agreement. The Series B Convertible Preferred Stock was originally issued at a fair value of $<span id="xdx_904_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20251231__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember_zobN7u20dcOj" title="Conversion of shares issued fair value per share">589 per share, reflecting the relative fair value allocation of the $800 per unit transaction price between the Series B preferred shares and the accompanying Series B Warrants, based on standalone fair values determined using a Monte Carlo simulation model. The redemption price of $<span id="xdx_907_ecustom--StockIssuedDuringPeriodValueRedemptionOfConvertiblePreferredStock_pn5n6_c20250101__20251231__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember_zKb3Kd8Re139" title="Redemption of series B convertible preferred stock">0.5 million exceeded the aggregate carrying value of the redeemed shares of $<span id="xdx_902_eus-gaap--PreferredStockRedemptionAmount_iI_pn5n6_c20251231__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember_zihGlAxFvTKf" title="Preferred stock redemption amount">0.3 million by $<span id="xdx_90C_eus-gaap--PreferredStockRedemptionDiscount_pn5n6_c20250101__20251231__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember_zO0I4Ez2uEif" title="Redemption stock discount">0.2 million. This excess represents a deemed dividend to the preferred stockholders and has been deducted from net loss in computing net loss attributable to common stockholders for purposes of loss per share. The deemed dividend is a non-cash item and does not affect the Company’s net loss, stockholders’ equity (deficit), or cash flows from operations. <p id="xdx_89C_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zHn5kNMTQ8o5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The schedule of loss per shares, basic and diluted is as follows: Schedule of Earning Per Shares, Basic and Diluted <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">For The Year Ended December 31,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20251231_zQCTaUWLK632" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240101__20241231_zypivf5ixDX4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--ProfitLoss_zX36UxvPh3wg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,160,998</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(48,319,475</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--TemporaryEquityDividendsAdjustment_iN_di_zvKKbLGdsLtk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Deemed dividend on Series B Preferred Stock redemption</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">(241,435</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_401_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_iT_zV4hpu2NvhCk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: left">Net loss attributable to common stockholders</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">(2,402,433</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">(48,319,475</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average shares outstanding – basic and diluted </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,921,648</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,772,867</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted net loss per share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.82</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(17.43</td><td style="text-align: left">)</td></tr> </table> <p id="xdx_896_eus-gaap--ScheduleOfWeightedAverageNumberOfSharesTableTextBlock_zONcO1KpfQid" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following is a schedule of the weighted average shares outstanding - basic and diluted, for the year ended December 31, 2025 and December 31, 2024. Schedule of Weighted Average Shares Outstanding - Basic and Diluted <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20251231_zeDSAv5357Ph" style="border-bottom: Black 1pt solid; 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" id="xdx_499_20240101__20241231_zkakeT4HYLOh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Weighted Average Shares Calculation – Basic and Diluted</td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; 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; 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: 60%; padding-bottom: 2.5pt">Weighted average shares</td><td style="width: 2%; 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: 16%; text-align: right">2,921,648</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; 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: 16%; text-align: right">2,772,867</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Certain share-based equity awards and warrants were excluded from the computation of dilutive loss per share because inclusion of these awards would have had an anti-dilutive effect. The following table reflects the awards that were excluded from diluted net loss per share: <p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zsW9TJju2x2e" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> Schedule of Share-based Equity Awards and Warrants Excluded from Computation of Earnings <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250101__20251231_zxGR8SuDecCa" style="border-bottom: Black 1pt solid; 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" id="xdx_496_20240101__20241231_zxMq3ZIx2RB8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31, </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; 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; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SharesIssuedToAbacaShareholdersMember_zLMFTrLV3G69" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Shares to be issued to Abaca shareholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">37,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--StockOptionMember_zJRP11sKHKEl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">538,618</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">113,673</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConversionOfSeriesBPreferredStockMember_zHTEuTlDiAe2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Conversion of Series B Convertible Preferred Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,999,291</td><td style="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_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConversionOfPreferredStockMember_zXlYtDcVBiV2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Conversion of preferred stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,440</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,440</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zFCoGJ5bPGb7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Warrants</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">2,601,374</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">601,829</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zk5qCC0R3C17" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total</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">7,112,296</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">757,442</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

-244 500000

589

500000

300000

200000

<p id="xdx_89C_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zHn5kNMTQ8o5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The schedule of loss per shares, basic and diluted is as follows: Schedule of Earning Per Shares, Basic and Diluted <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="border-bottom: Black 1pt solid; font-weight: bold">For The Year Ended December 31,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20251231_zQCTaUWLK632" style="border-bottom: Black 1pt solid; 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" id="xdx_496_20240101__20241231_zypivf5ixDX4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--ProfitLoss_zX36UxvPh3wg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,160,998</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(48,319,475</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--TemporaryEquityDividendsAdjustment_iN_di_zvKKbLGdsLtk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Deemed dividend on Series B Preferred Stock redemption</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">(241,435</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_401_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_iT_zV4hpu2NvhCk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: left">Net loss attributable to common stockholders</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">(2,402,433</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">(48,319,475</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average shares outstanding – basic and diluted </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,921,648</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,772,867</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted net loss per share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.82</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(17.43</td><td style="text-align: left">)</td></tr> </table>

-2160998

-48319475

241435

-2402433

-48319475

2921648

2772867

-0.82

-17.43

<p id="xdx_896_eus-gaap--ScheduleOfWeightedAverageNumberOfSharesTableTextBlock_zONcO1KpfQid" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">The following is a schedule of the weighted average shares outstanding - basic and diluted, for the year ended December 31, 2025 and December 31, 2024. Schedule of Weighted Average Shares Outstanding - Basic and Diluted <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20251231_zeDSAv5357Ph" style="border-bottom: Black 1pt solid; 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" id="xdx_499_20240101__20241231_zkakeT4HYLOh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Weighted Average Shares Calculation – Basic and Diluted</td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; 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; 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: 60%; padding-bottom: 2.5pt">Weighted average shares</td><td style="width: 2%; 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: 16%; text-align: right">2,921,648</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; 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: 16%; text-align: right">2,772,867</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2921648

2772867

<p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zsW9TJju2x2e" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> Schedule of Share-based Equity Awards and Warrants Excluded from Computation of Earnings <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250101__20251231_zxGR8SuDecCa" style="border-bottom: Black 1pt solid; 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" id="xdx_496_20240101__20241231_zxMq3ZIx2RB8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31, </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; 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; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SharesIssuedToAbacaShareholdersMember_zLMFTrLV3G69" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Shares to be issued to Abaca shareholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">37,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--StockOptionMember_zJRP11sKHKEl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">538,618</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">113,673</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConversionOfSeriesBPreferredStockMember_zHTEuTlDiAe2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Conversion of Series B Convertible Preferred Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,999,291</td><td style="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_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConversionOfPreferredStockMember_zXlYtDcVBiV2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Conversion of preferred stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,440</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,440</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zFCoGJ5bPGb7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Warrants</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">2,601,374</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">601,829</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zk5qCC0R3C17" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total</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">7,112,296</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">757,442</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

37500

538618

113673

3999291

4440

2601374

601829

7112296

757442

Note 15 - Forward Purchase Agreement On June 16, 2022, the Company entered into a Forward Purchase Agreement (“FPA”) with Midtown East Management NL, LLC (“Midtown East”), which subsequently assigned obligations to purchase Common Stock each to Verdun Investments LLC (“Verdun”) and Vellar Opportunity Fund SPV LLC – Series 1 (“Vellar”) through assignment and novation agreements (collectively the “FPA Holders”). Under the FPA, the FPA Holders agreed not to exercise their stock redemption rights in exchange for $7.3 million payable in stock or cash at the option of the Company on or before September 28, 2025 (the “FPA Liability”). Forward Purchase Receivable The FPA provided the Company with the right to receive the Reset Price, which is $<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_iI_pid_c20250630__dei--LegalEntityAxis__custom--MidtownEastManagementNLLLCMember_zuQnhOBVSTD9" title="Reset price per share">25.00 per share as of June 30, 2025, if the FPA Holders elect to sell their shares prior to the agreement’s maturity on September 28, 2025. Upon sale, the FPA Holders are required to remit the Reset Price per share sold to the Company, and they retain any proceeds in excess of the Reset Price. If the shares are not sold before maturity, the Company will receive the shares back. The Company does not have control over the timing of any share sales and does not share in any price appreciation. The Reset Price was subject to monthly downward adjustment to the lowest of (a) the prior Reset Price, (b) $<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_iI_pid_c20220616__srt--RangeAxis__srt--MaximumMember_zc9ZuxVuSk42" title="Current reset price">200.00, and (c) the volume-weighted average price (“VWAP”) of the Company’s shares over the ten most recent trading days of the prior month, but not below $<span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_iI_pid_c20220616__srt--RangeAxis__srt--MinimumMember_zFTZwJVzhZEa" title="Prior reset price">100.00. Additionally, if the Company issues shares or convertible securities at a price lower than the then-current Reset Price, the Reset Price was adjusted to match that lower offering price. If the FPA Holders sell shares prior to maturity, the Company was entitled to receive $25.00 per share sold. As of March 31, 2025, the Company’s stock closed at $4.2945 per share, and management considered that it was highly improbable that the FPA Holders will sell any shares before the September 28, 2025 settlement date, as doing so would not be economically beneficial. During the first quarter of 2025, the Company reclassified the forward purchase receivable to additional paid-in capital, as the arrangement met the criteria for equity classification under ASC 815-40 and ASC 480. The reconciliation statement of the Common Stock held by the FPA holders is as follows: Schedule of Reconciliation Statement of Common Stock Held By FPA <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="text-align: center"> </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">Vellar</td><td style="padding-bottom: 1pt; font-weight: bold"> </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">Midtown East</td><td style="padding-bottom: 1pt; font-weight: bold"> </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">Verdun</td><td style="padding-bottom: 1pt; font-weight: bold"> </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">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">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; font-weight: bold; text-align: center">Amount</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; font-weight: bold; text-align: center">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; font-weight: bold; text-align: center">Amount</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; font-weight: bold; text-align: center">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; font-weight: bold; text-align: center">Amount</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; font-weight: bold; text-align: center">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; font-weight: bold; text-align: center">Amount</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: 28%">Balance, December 31, 2023 and December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_ecustom--CommonStockHeldBySubsidiaryShares_iS_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_zCOxiRdhDvB1" style="width: 5%; text-align: right" title="Common stock held, beginning shares">48,560</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--CommonStockHeldBySubsidiary_iS_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_zTEP34yz35R5" style="width: 5%; text-align: right" title="Common stock held, beginning value">1,214,005</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--CommonStockHeldBySubsidiaryShares_iS_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_zqYPMzUgGvT5" style="width: 5%; text-align: right" title="Common stock held, beginning shares">75,896</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--CommonStockHeldBySubsidiary_iS_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_z9XjVpekThZc" style="width: 5%; text-align: right" title="Common stock held, beginning value">1,897,405</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--CommonStockHeldBySubsidiaryShares_iS_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_z9Wvh0kD1DJl" style="width: 5%; text-align: right" title="Common stock held, beginning shares">58,912</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--CommonStockHeldBySubsidiary_iS_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_z5FDIYMykbY6" style="width: 5%; text-align: right" title="Common stock held, beginning value">1,472,811</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_ecustom--CommonStockHeldBySubsidiaryShares_iS_c20250101__20251231_zbOBnI4ZJJwh" style="width: 5%; text-align: right" title="Common stock held, Beginning Shares">183,368</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--CommonStockHeldBySubsidiary_iS_c20250101__20251231_zADAXQ0Najt3" style="width: 5%; text-align: right" title="Common stock held, Beginning Amount">4,584,221</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">Less: reclassification to additional paid-in capital</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--ReclassificationToAdditionalPaidinCapitalShares_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_zibvhYl0dj3g" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Shares">-</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 id="xdx_988_ecustom--ReclassificationToAdditionalPaidinCapitalValue_iN_di_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_z0qdWySmu8td" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Amount">(1,214,005</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 id="xdx_983_ecustom--ReclassificationToAdditionalPaidinCapitalShares_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_zNDgvw9VtRji" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Shares">-</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 id="xdx_988_ecustom--ReclassificationToAdditionalPaidinCapitalValue_iN_di_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_zLuvYCxXvm74" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Amount">(1,897,405</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 id="xdx_98A_ecustom--ReclassificationToAdditionalPaidinCapitalShares_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_z7JKtDi1CCAf" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Shares">-</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 id="xdx_98C_ecustom--ReclassificationToAdditionalPaidinCapitalValue_iN_di_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_zuXCaPPozchi" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Amount">(1,472,811</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 id="xdx_98F_ecustom--ReclassificationToAdditionalPaidinCapitalShares_c20250101__20251231_zD0NK3n8Gr3" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Shares">-</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 id="xdx_987_ecustom--ReclassificationToAdditionalPaidinCapitalValue_iN_di_c20250101__20251231_zzfHc7oMCFtj" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Amount">(4,584,221</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: 1pt">Less: issuance of Series B Convertible Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsShares_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_zhctjaq2fmZi" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Shares">(48,560</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 id="xdx_98B_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsValue_iN_di_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_zPCiQQ7QCTha" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Amount">-</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 id="xdx_989_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsShares_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_zx6XxFsbXu1f" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Shares">(75,896</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 id="xdx_982_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsValue_iN_di_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_zmi7EGyDI6Al" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Amount">-</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 id="xdx_98C_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsShares_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_zRHlpZpNyAk9" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Shares">(58,912</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 id="xdx_985_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsValue_iN_di_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_zZSMye0TdrUh" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Amount">-</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 id="xdx_989_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsShares_c20250101__20251231_z3MB25uTQkqg" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Shares">(183,368</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 id="xdx_986_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsValue_iN_di_c20250101__20251231_zQMeFSxYrJsb" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Amount">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance, December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_ecustom--CommonStockHeldBySubsidiaryShares_iE_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_zUIVhC0BEAzl" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, ending shares">-</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 id="xdx_983_eus-gaap--CommonStockHeldBySubsidiary_iE_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_z5DydWVrOH42" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, ending value">-</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 id="xdx_981_ecustom--CommonStockHeldBySubsidiaryShares_iE_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_znjXo1RoCsT8" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, ending shares">-</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">$</td><td id="xdx_98E_eus-gaap--CommonStockHeldBySubsidiary_iE_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_zEkKsNqdCG7f" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, ending value">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_ecustom--CommonStockHeldBySubsidiaryShares_iE_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_zwLGsnUGrdD7" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, ending shares">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--CommonStockHeldBySubsidiary_iE_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_z7sbTslrUaig" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, ending value">-</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 id="xdx_983_ecustom--CommonStockHeldBySubsidiaryShares_iE_c20250101__20251231_z7x3rnJ8uo44" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, Ending Shares">-</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 id="xdx_984_eus-gaap--CommonStockHeldBySubsidiary_iE_c20250101__20251231_zXpTdtBjVQCg" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, Ending Amount">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Forward Purchase Derivative Liability On September 28, 2025, the Company was required to either (a) make a cash payment or (b) issue Common Stock sufficient to satisfy the FPA derivative liability of $7.3 million. However, in September 2025, each of the FPA holders agreed to Exchange and Cancellation Agreements under which they irrevocably cancelled and terminated all of their rights under the FPA, extinguishing the Company’s FPA derivative liability. In return, the holders received Series B Convertible Preferred Stock and Series B Warrants to purchase Common Stock. On September 30, 2025, the Company issued the following securities in full satisfaction of its FPA derivative liability: Schedule of Forward Purchase Agreement <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">Seller</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Series B Convertible Preferred Stock (shares)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Series B Warrants</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%">Verdun</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__dei--LegalEntityAxis__custom--VerdunMember_zSeznhRWm6Bc" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Series B convertible preferred stock, shares">1,607</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20251231__us-gaap--StatementEquityComponentsAxis__custom--SeriesBWarrantsMember__dei--LegalEntityAxis__custom--VerdunMember_zg1wp16NCstd" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Series B warrants">103,485</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Midtown</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__dei--LegalEntityAxis__custom--MidtownMember_zVFiYEuOwoKa" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Series B convertible preferred stock, shares">2,070</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20251231__us-gaap--StatementEquityComponentsAxis__custom--SeriesBWarrantsMember__dei--LegalEntityAxis__custom--MidtownMember_zI7wJwqgX8t1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Series B warrants">133,301</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Vellar</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__dei--LegalEntityAxis__custom--VellarMember_zvsMIL2Dx8o6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Series B convertible preferred stock, shares">1,325</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20251231__us-gaap--StatementEquityComponentsAxis__custom--SeriesBWarrantsMember__dei--LegalEntityAxis__custom--VellarMember_zYfzimOZpjci" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Series B warrants">85,325</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zx0gBxMtVmX5" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Series B convertible preferred stock, shares">5,002</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20251231__us-gaap--StatementEquityComponentsAxis__custom--SeriesBWarrantsMember_zkU7KYUoy8B8" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Series B warrants">322,111</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> At December 31, 2025, the Series B Warrants to purchase Common Stock had an exercise price of $7.7644 per share and include customary anti-dilution and adjustment provisions. The Company accounted for the issuance of the Series B Convertible Preferred Stock and Series B Warrants as equity instruments under U.S. GAAP. The exchange of the FPA obligation for Series B Convertible Preferred Stock and Series B Warrants was accounted for as an extinguishment of a liability. The equity instruments issued were measured at their fair value of $800 per unit, consistent with the cash price paid by unaffiliated third-party investors for identical securities on the same date. The FPA Liability had been carried on the Company’s balance sheet at $<span id="xdx_901_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_pn5n6_c20221231__us-gaap--TypeOfArrangementAxis__custom--ForwardPurchaseAgreementMember_zLhlfoUOztCi" title="Forward purchase derivative liability">7.3 million since December 31, 2022 and, if settled in the ordinary course, would have required the Company to satisfy the amount due either in cash or through the issuance of Class A Common Stock. On September 30, 2025, all three FPA holders agreed to cancel and terminate all of their rights under the FPA in exchange for <span id="xdx_90C_eus-gaap--SharesIssued_iI_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--ForwardPurchaseAgreementMember_zpgpzbP3e5O4" title="Shares, issued">5,002 shares of Series B Convertible Preferred Stock and warrants to purchase <span id="xdx_906_eus-gaap--SharesIssued_iI_c20250930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--TypeOfArrangementAxis__custom--ForwardPurchaseAgreementMember_za76vvwQFwbb" title="Shares, issued">322,111 shares of Common Stock, valued at $800 per unit, consistent with the price paid by unaffiliated third-party investors for identical instruments on the same date. The aggregate fair value of the equity instruments issued was $<span id="xdx_907_eus-gaap--EquityFairValueDisclosure_iI_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--ForwardPurchaseAgreementMember_zEYyVBW64185" title="Equity instruments issued value">4.0 million, which was less than the $<span id="xdx_90A_eus-gaap--DerivativeLiabilitiesNoncurrent_iI_pn5n6_c20221231__us-gaap--TypeOfArrangementAxis__custom--ForwardPurchaseAgreementMember_zngPeqwbROp6" title="Forward purchase derivative liability">7.3 million carrying amount of the FPA derivative liability. Accordingly, the Company recognized a gain on extinguishment of $<span id="xdx_908_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn5n6_c20250101__20251231__custom--StatementOfIncomeLocationBalanceAxis__custom--OtherNonoperatingIncomeExpensesMember__us-gaap--TypeOfArrangementAxis__custom--ForwardPurchaseAgreementMember_zDiKFq5R92Qg" title="Gain (loss) on extinguishment of debt">3.3 million, which is included in Other Income (Expense) in the consolidated statements of operations for the year ended December 31, 2025. This transaction simultaneously preserved the Company’s cash and protected existing stockholders from dilution. Under the terms of the Series B Convertible Preferred Stock Purchase Agreement, each holder’s conversion rights are subject to a 4.99% beneficial ownership limitation, such that no holder may convert its Series B shares or exercise related warrants to the extent that doing so would cause its ownership of the Company’s Common Stock to exceed 4.99%. This limitation may be increased to 9.99% upon 61 days’ written notice but may not be waived entirely. As a result, the conversion and exercise rights of each of Verdun, Midtown, and Vellar are limited at any given time to the extent that doing so would exceed the 4.99% beneficial ownership threshold. 7300000

25.00

200.00

100.00

25.00

4.2945

The reconciliation statement of the Common Stock held by the FPA holders is as follows: Schedule of Reconciliation Statement of Common Stock Held By FPA <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="text-align: center"> </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">Vellar</td><td style="padding-bottom: 1pt; font-weight: bold"> </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">Midtown East</td><td style="padding-bottom: 1pt; font-weight: bold"> </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">Verdun</td><td style="padding-bottom: 1pt; font-weight: bold"> </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">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">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; font-weight: bold; text-align: center">Amount</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; font-weight: bold; text-align: center">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; font-weight: bold; text-align: center">Amount</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; font-weight: bold; text-align: center">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; font-weight: bold; text-align: center">Amount</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; font-weight: bold; text-align: center">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; font-weight: bold; text-align: center">Amount</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: 28%">Balance, December 31, 2023 and December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_ecustom--CommonStockHeldBySubsidiaryShares_iS_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_zCOxiRdhDvB1" style="width: 5%; text-align: right" title="Common stock held, beginning shares">48,560</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--CommonStockHeldBySubsidiary_iS_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_zTEP34yz35R5" style="width: 5%; text-align: right" title="Common stock held, beginning value">1,214,005</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--CommonStockHeldBySubsidiaryShares_iS_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_zqYPMzUgGvT5" style="width: 5%; text-align: right" title="Common stock held, beginning shares">75,896</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--CommonStockHeldBySubsidiary_iS_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_z9XjVpekThZc" style="width: 5%; text-align: right" title="Common stock held, beginning value">1,897,405</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--CommonStockHeldBySubsidiaryShares_iS_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_z9Wvh0kD1DJl" style="width: 5%; text-align: right" title="Common stock held, beginning shares">58,912</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--CommonStockHeldBySubsidiary_iS_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_z5FDIYMykbY6" style="width: 5%; text-align: right" title="Common stock held, beginning value">1,472,811</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_ecustom--CommonStockHeldBySubsidiaryShares_iS_c20250101__20251231_zbOBnI4ZJJwh" style="width: 5%; text-align: right" title="Common stock held, Beginning Shares">183,368</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--CommonStockHeldBySubsidiary_iS_c20250101__20251231_zADAXQ0Najt3" style="width: 5%; text-align: right" title="Common stock held, Beginning Amount">4,584,221</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">Less: reclassification to additional paid-in capital</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--ReclassificationToAdditionalPaidinCapitalShares_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_zibvhYl0dj3g" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Shares">-</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 id="xdx_988_ecustom--ReclassificationToAdditionalPaidinCapitalValue_iN_di_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_z0qdWySmu8td" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Amount">(1,214,005</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 id="xdx_983_ecustom--ReclassificationToAdditionalPaidinCapitalShares_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_zNDgvw9VtRji" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Shares">-</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 id="xdx_988_ecustom--ReclassificationToAdditionalPaidinCapitalValue_iN_di_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_zLuvYCxXvm74" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Amount">(1,897,405</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 id="xdx_98A_ecustom--ReclassificationToAdditionalPaidinCapitalShares_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_z7JKtDi1CCAf" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Shares">-</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 id="xdx_98C_ecustom--ReclassificationToAdditionalPaidinCapitalValue_iN_di_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_zuXCaPPozchi" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Amount">(1,472,811</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 id="xdx_98F_ecustom--ReclassificationToAdditionalPaidinCapitalShares_c20250101__20251231_zD0NK3n8Gr3" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Shares">-</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 id="xdx_987_ecustom--ReclassificationToAdditionalPaidinCapitalValue_iN_di_c20250101__20251231_zzfHc7oMCFtj" style="border-bottom: Black 1pt solid; text-align: right" title="Less: reclassification to additional paid-in capital, Amount">(4,584,221</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: 1pt">Less: issuance of Series B Convertible Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsShares_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_zhctjaq2fmZi" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Shares">(48,560</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 id="xdx_98B_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsValue_iN_di_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_zPCiQQ7QCTha" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Amount">-</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 id="xdx_989_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsShares_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_zx6XxFsbXu1f" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Shares">(75,896</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 id="xdx_982_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsValue_iN_di_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_zmi7EGyDI6Al" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Amount">-</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 id="xdx_98C_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsShares_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_zRHlpZpNyAk9" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Shares">(58,912</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 id="xdx_985_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsValue_iN_di_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_zZSMye0TdrUh" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Amount">-</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 id="xdx_989_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsShares_c20250101__20251231_z3MB25uTQkqg" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Shares">(183,368</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 id="xdx_986_ecustom--IssuanceOfSeriesBPreferredStockAndSeriesBWarrantsAsPerExchangeAndCancellationAgreementsValue_iN_di_c20250101__20251231_zQMeFSxYrJsb" style="border-bottom: Black 1pt solid; text-align: right" title="Less: issuance of Series B Preferred Stock and Series B Warrants as per the Exchange and Cancellation Agreements, Amount">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance, December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_ecustom--CommonStockHeldBySubsidiaryShares_iE_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_zUIVhC0BEAzl" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, ending shares">-</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">$</td><td id="xdx_983_eus-gaap--CommonStockHeldBySubsidiary_iE_c20250101__20251231__dei--LegalEntityAxis__custom--VellarMember_z5DydWVrOH42" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, ending value">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_ecustom--CommonStockHeldBySubsidiaryShares_iE_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_znjXo1RoCsT8" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, ending shares">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--CommonStockHeldBySubsidiary_iE_c20250101__20251231__dei--LegalEntityAxis__custom--MidtownEastMember_zEkKsNqdCG7f" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, ending value">-</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 id="xdx_985_ecustom--CommonStockHeldBySubsidiaryShares_iE_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_zwLGsnUGrdD7" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, ending shares">-</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">$</td><td id="xdx_981_eus-gaap--CommonStockHeldBySubsidiary_iE_c20250101__20251231__dei--LegalEntityAxis__custom--VerdunMember_z7sbTslrUaig" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, ending value">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_ecustom--CommonStockHeldBySubsidiaryShares_iE_c20250101__20251231_z7x3rnJ8uo44" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, Ending Shares">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--CommonStockHeldBySubsidiary_iE_c20250101__20251231_zXpTdtBjVQCg" style="border-bottom: Black 2.5pt double; text-align: right" title="Common stock held, Ending Amount">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 48560

1214005

75896

1897405

58912

1472811

183368

4584221

1214005 1897405 1472811 4584221 -48560 -75896 -58912 -183368

7300000

Schedule of Forward Purchase Agreement <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">Seller</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Series B Convertible Preferred Stock (shares)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Series B Warrants</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%">Verdun</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__dei--LegalEntityAxis__custom--VerdunMember_zSeznhRWm6Bc" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Series B convertible preferred stock, shares">1,607</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20251231__us-gaap--StatementEquityComponentsAxis__custom--SeriesBWarrantsMember__dei--LegalEntityAxis__custom--VerdunMember_zg1wp16NCstd" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Series B warrants">103,485</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Midtown</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__dei--LegalEntityAxis__custom--MidtownMember_zVFiYEuOwoKa" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Series B convertible preferred stock, shares">2,070</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20251231__us-gaap--StatementEquityComponentsAxis__custom--SeriesBWarrantsMember__dei--LegalEntityAxis__custom--MidtownMember_zI7wJwqgX8t1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Series B warrants">133,301</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Vellar</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__dei--LegalEntityAxis__custom--VellarMember_zvsMIL2Dx8o6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Series B convertible preferred stock, shares">1,325</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20251231__us-gaap--StatementEquityComponentsAxis__custom--SeriesBWarrantsMember__dei--LegalEntityAxis__custom--VellarMember_zYfzimOZpjci" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Series B warrants">85,325</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zx0gBxMtVmX5" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Series B convertible preferred stock, shares">5,002</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20251231__us-gaap--StatementEquityComponentsAxis__custom--SeriesBWarrantsMember_zkU7KYUoy8B8" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Series B warrants">322,111</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1607

103485

2070

133301

1325

85325

5002

322111

7.7644

800

7300000

5002

322111

800

4.0

7300000

3300000

0.0499 0.0499 0.0999 0.0499 Note 16 -Warrants Public and Private Placement Warrants As of December 31, 2025, and December 31, 2024, the Company had 287,500 public warrants and 13,205 private placement warrants to purchase Common Stock are outstanding, respectively, each with an adjusted exercise price of $230 per share. The public and private placement warrants may only be exercised for a whole number of Common Stock. <span id="xdx_909_ecustom--WarrantsExercisableDescription_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__custom--PublicAndPrivateWarrantsMember_zufppTlpHze4" title="Warrants exercisable description">The public and private placement warrants are exercisable and expire on September 28, 2027, or earlier upon redemption or liquidation. No warrant will be exercisable for cash or on a cashless basis, and the Company will not be obligated to issue any shares to holders seeking to exercise their warrants, unless the issuance of the shares upon such exercise is registered or qualified under the securities laws of the state of the exercising holder, or an exemption from registration is available. Redemption of warrants will become effective when the price per share of the Common Stock equals or exceeds $360.00 per share. Once the warrants become redeemable, the Company may redeem the warrants: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">in whole and not in part;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">at a price of $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251231__us-gaap--StatementEquityComponentsAxis__custom--PublicWarrantsMember_zOc0HCdHilp3" title="Warrants price per share">0.01 per warrant;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">upon not less than 30 days’ prior written notice of redemption to each warrant holder; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">if, and only if, the reported last sale price of the Common Stock equals or exceeds $360.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like and certain issuances of Common Stock and equity-linked securities) for any 20 trading days within a 30-trading day period commencing no earlier than the date the warrants become exercisable and ending on the third business day before the date on which the Company sends the notice of redemption to the warrant holders.</td></tr> </table> If and when the warrant becomes redeemable by the Company, the Company may exercise its redemption rights; this is also the case if the Company is unable to register or qualify the underlying securities for sale under all applicable state securities laws. If the Company calls the warrants for redemption, management will have the option to require all holders that wish to exercise the warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of shares of Common Stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for the issuance of Common Stock at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants. The private placement warrants are identical to the public warrants, except that the private placement warrants and the Common Stock issuable upon the exercise of the private placement warrants were not transferable, assignable or saleable, subject to certain limited exceptions. Additionally, the private placement warrants are exercisable on a cashless basis and non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the private placement warrants are held by someone other than the initial purchasers or their permitted transferees, the private placement warrants will be redeemable by the Company and exercisable by such holders on the same basis as the public warrants. PIPE Warrants As of December 31, 2025 and December 31, 2024, there were <span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20251231__us-gaap--ClassOfWarrantOrRightAxis__custom--PIPEWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z9aVhjOKjwgh" title="Outstanding PIPE warrants"><span id="xdx_906_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PIPEWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zBnt5yOujuKa" title="Outstanding PIPE warrants">51,125 outstanding PIPE warrants to purchase Common Stock. The PIPE warrants have an adjusted exercise price of $<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20251231__us-gaap--ClassOfWarrantOrRightAxis__custom--PIPEWarrantsMember_zP9BxV17aweg" title="Warrants execise price"><span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--PIPEWarrantsMember_zMC7gzXmwuBb" title="Warrants execise price">100.00 per share of Common Stock to be paid in cash except if the shares underlying the warrants are not covered by an effective registration statement after the nine-month anniversary of the closing date, in which case cashless exercise is permitted. The PIPE warrants are also subject to adjustment for other customary adjustments for stock dividends, stock splits and similar corporate actions. The PIPE warrants are exercisable for a period of five years following the Closing, or September 28, 2027. After the exercise of a PIPE Warrant, the Company may be required to pay certain penalties if it fails to deliver the Common Stock within a specified period of time. Abaca Warrants As of December 31, 2025, and December 31, 2024, the Company had 250,000 Abaca warrants outstanding, each exercisable to purchase one share of the Company’s Common Stock at an exercise price of $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20251231__us-gaap--ClassOfWarrantOrRightAxis__custom--AbacaWarrantsMember_zsAwHrFwwh16" title="Warrants execise price"><span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--AbacaWarrantsMember_zDOKfA9KkuX6" title="Warrants execise price">40.00 per share, payable in cash. The Abaca Warrants become exercisable one year after the effective date of the registration statement covering the underlying shares and expire five (5) years after that date. The Company may, at its sole discretion, settle exercises of the Abaca warrants in either (i) shares of Common Stock or (ii) cash equal to the intrinsic value of the Warrants (the difference between the fair market value of the Common Stock on the date of exercise and the $<span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20251231__us-gaap--ClassOfWarrantOrRightAxis__custom--AbacaWarrantsMember_z64UbiV4xVL3" title="Warrants execise price">40.00 exercise price, multiplied by the number of Warrants exercised). On November 10, 2025, the registration statement on Form S-1 covering the shares issuable upon exercise of the Abaca Warrants became effective, thereby satisfying the Company’s commitment to register such shares for resale. Series B Warrants On September 30, 2025, in connection with the issuance of the Company’s Series B Convertible Preferred Stock, the Company also issued Series B Warrants to purchase an aggregate of <span id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zV9XLvnRoTa7" title="Number of warrant issued">1,999,544 shares of Common Stock at an initial exercise price of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember_zXXybjXhAUGd" title="Warrant exercise price">7.7644 per share, subject to adjustment. The Series B Warrants become exercisable on the date that is six months and one day after the effective date of the Company’s Form S-1 registration statement filed on October 21, 2025 (the “Initial Exercisability Date”), and expire on the third anniversary of the Initial Exercisability Date. Each holder is subject to a 4.99% beneficial-ownership limitation, which may be increased to up to 9.99% upon 61 days’ prior written notice to the Company. If a registration statement covering the resale of the underlying shares is not effective at the time of exercise, the holder may elect to exercise the warrants on a cashless basis. The Series B Warrants include down-round and anti-dilution provisions under which the exercise price is subject to reduction if the Company issues shares of Common Stock, or common stock equivalents, at a price below the then-current exercise price. The exercise price and/or number of warrant shares are also subject to automatic resets on the 60th, 90th, and 180th calendar days following the issuance date, and upon standard corporate events such as stock splits, combinations, and stock dividends. All automatic resets occur prior to the Initial Exercisability Date; accordingly, the exercise price and warrant share count in effect on that date will already reflect any adjustments triggered during the pre-exercisability period. The Company evaluated the Series B Warrants under ASC 815-40 and ASC 480. Management concluded that the warrants are indexed to the Company’s own stock and satisfy all conditions for equity classification in stockholders’ equity. In reaching this conclusion, management noted that: (i) the beneficial-ownership limitation is a timing deferral and does not introduce a non-equity observable index; (ii) the down-round feature is disregarded in the indexation analysis under ASC 815-10-15-75A; and (iii) the automatic reset provisions are fully operative before the warrants become exercisable, such that the settlement amount upon exercise is determined solely by reference to a fixed number of shares and a fixed exercise price, subject only to standard anti-dilution adjustments. Because the Series B Warrants are classified in equity, they will not be subsequently remeasured at fair value. This treatment differs from the Company’s other outstanding warrants which are classified as derivative liabilities and remeasured each reporting period (see Note 19). The aggregate fair value of each unit of Series B Convertible Preferred Stock and accompanying Series B Warrant was established at $<span id="xdx_903_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnaffiliatedThirdPartyInvestorsMember_zZeEjPJq9GV7" title="Stock price per share">800, representing the price paid by unaffiliated third-party investors in an arm’s-length transaction on September 30, 2025. Because both instruments are recorded separately on the balance sheet, the Company allocated the $<span id="xdx_905_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnaffiliatedThirdPartyInvestorsMember_zmc85iySwgTk" title="Stock price per share">800 unit price between them on a fair value basis in accordance with ASC 470-20-30-5. The fair value of each Series B Warrant was estimated using a Monte Carlo simulation model provided by a third-party. The model produced an estimated fair value of $<span id="xdx_908_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zYJQGLWpqdY6" title="Stock price per share">211 per Series B Warrant and $<span id="xdx_906_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zAwXCL9IzOuk" title="Stock price per share">589 per share of Series B Convertible Preferred Stock. Both instruments are classified in permanent equity and will not be subsequently remeasured.

287500

13205

230

The public and private placement warrants are exercisable and expire on September 28, 2027, or earlier upon redemption or liquidation.

360.00

0.01

360.00

51125

100.00

The PIPE warrants are also subject to adjustment for other customary adjustments for stock dividends, stock splits and similar corporate actions. The PIPE warrants are exercisable for a period of five years following the Closing, or September 28, 2027. After the exercise of a PIPE Warrant, the Company may be required to pay certain penalties if it fails to deliver the Common Stock within a specified period of time.

250000

40.00

P5Y

40.00

1999544

7.7644

0.0499 0.0999

800

211

589

Note 17 - Financial Instruments 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. The fair value hierarchy ranks the inputs used in measuring fair value as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">○</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1 – Observable, unadjusted quoted prices in active markets</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">○</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2 – Inputs other than quoted prices included in Level 1 that are directly or indirectly observable for the asset or liability</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">○</td> <td style="font: 10pt Times New Roman, Times, Serif">Level 3 – Unobservable inputs with little or no market activity that require the Company to use reasonable inputs and assumptions</td></tr> </table> The Company uses fair value measurements to record adjustments to certain financial assets and liabilities on a recurring basis. The Company may be required to record certain assets at fair value on a nonrecurring basis in specific circumstances, such as evidence of impairment. Methodologies used to determine fair value might be highly subjective and judgmental in nature; therefore, valuations may not be precise. If the Company determines that a valuation technique change is necessary, the change is assumed to have occurred at the end of the respective reporting period. Assets and Liabilities Reported at Fair Value on a Recurring Basis Public Warrants: Public warrants are recorded at fair value on a recurring basis. The Company obtains exchange traded price, of Level 1 inputs, based on observable data to value these warrants. Private Placement Warrants: Private Placement Warrants are recorded at fair value on a recurring basis based upon an internal Company assessed value of these derivatives with Level 3 inputs, which are derived from the Black-Scholes model. PIPE Warrants: PIPE Warrants are recorded at fair value on a recurring basis based upon an internal Company assessed value of these derivatives with Level 3 inputs, which are derived from the Black-Scholes model. Abaca Warrants: Abaca Warrants are recorded at fair value on a recurring basis. The Company assessed the value of these derivatives with Level 3 inputs. Level 3 inputs, based on unobservable data derived from the Black-Scholes model. Third anniversary payment consideration: The third anniversary payment consideration was classified as a derivative liability under ASC 815, Derivatives and Hedging, and was recorded at fair value on a recurring basis using Level 3 inputs. On October 3, 2025, the third anniversary payment of $<span id="xdx_903_eus-gaap--FairValueHedgeLiabilitiesAtFairValue_iI_pn5n6_c20251003__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zz4amuEixjDg" title="Third anniversary payment consideration">1.5 million, which was due in October 2025, was settled in full through the issuance of 37,517 shares of Common Stock at a floor value of $40.00 per share at the Company’s election. As a result of this settlement, the liability was fully extinguished during the year ended December 31, 2025. Forward purchase option derivatives: Forward purchase option derivatives are recorded at fair value on a recurring basis. On September 30, 2025, all three FPA holders entered into Exchange and Cancellation Agreements with the Company, pursuant to which they irrevocably cancelled, waived, and terminated all of their rights under the FPA in exchange for shares of Series B Convertible Preferred Stock and Series B Warrants to purchase Class A Common Stock. This transaction extinguished the FPA derivative liability in its entirety and was accounted for as a debt extinguishment under ASC 405-20, resulting in a gain on extinguishment of $<span id="xdx_908_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn5n6_c20250101__20251231__custom--StatementOfIncomeLocationBalanceAxis__custom--OtherNonoperatingIncomeExpensesMember__us-gaap--TypeOfArrangementAxis__custom--ForwardPurchaseAgreementMember_zjUub8jHHGAd" title="Gain (loss) on extinguishment of debt">3.3 million recognized in Other Income (Expense) for the year ended December 31, 2025. The following tables summarize financial assets and liabilities recorded at fair value on a recurring basis, by the level of valuation inputs in the fair value hierarchy on December 31, 2025 and December 31, 2024: Schedule of Financial Assets and Liabilities Recorded at Fair Value <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td></td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20251231_zFiaxwo0jQqe" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zm7i7KWaqLej" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zfZC9KcMRK5f" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20241231_zWiPYSpeqps9" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zHMNrT0yasCf" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zxjiAEEQE5ll" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Inputs (Level 3)</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; font-weight: bold; text-align: center">Total Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Description</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="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-style: italic">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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="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_ecustom--DeferredConsiderationPayment_iI_hus-gaap--FinancialInstrumentAxis__custom--PIPEWarrantsMember_zvT1iKiIhxh9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">PIPE warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">280</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">280</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">79,512</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">79,512</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DeferredConsiderationPayment_iI_hus-gaap--FinancialInstrumentAxis__custom--PublicWarrantsMember_zsj1lzAyObHb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Public warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,896</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,896</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">246,445</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">246,445</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></tr> <tr id="xdx_405_ecustom--DeferredConsiderationPayment_iI_hus-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantsMember_z7NnYEbdloeb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Private placement warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,632</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,632</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DeferredConsiderationPayment_iI_hus-gaap--FinancialInstrumentAxis__custom--AbacaWarrantsMember_z0lrs2VeDPvk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Abaca warrant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,430</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,430</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,024,900</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,024,900</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--DeferredConsiderationPayment_iI_hus-gaap--FinancialInstrumentAxis__custom--ForwardPurchaseDerivativeLiabilityMember_zj5UaxteMN9f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forward purchase derivative 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><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,309,580</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,309,580</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--DeferredConsiderationPayment_iI_zRRxEI5wFM7e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Third anniversary payment consideration</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">322,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">322,000</td><td style="text-align: left"> </td></tr> </table> Assets Measured at Fair Value on a Nonrecurring Basis Assets that are measured at fair value on a nonrecurring basis primarily comprises of property, plant and equipment, right-to-use assets, finite lived intangible assets and goodwill. The Company does not record these at fair value on a recurring basis, however, the carrying value of the assets may be reduced to fair value when the Company determines that impairment has occurred. As of December 31, 2024, the Company had no assets or liabilities measured at fair value on a non-recurring basis. During the year ended December 31, 2025, the Company recognized the ASC 460 stand-ready guarantee liability under the Second Amended CAA at fair value on a non-recurring basis upon initial recognition on October 1, 2025. This liability was measured at inception only and is not remeasured at fair value in subsequent reporting periods. The carrying amount as of December 31, 2025 was $<span id="xdx_90B_ecustom--StandreadyGuaranteeLiabilityNetNonCurrent_iI_pn5n6_c20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsNonrecurringMember_zJ6FDI9M1W3g" title="Stand ready guarantee liability">2.1 million, reflecting the systematic release of the liability as the Company is progressively released from risk on the underlying loan portfolio. The fair value measurement for stand-ready guarantee liability was prepared internally by management using an insurance-pricing methodology, reflecting the premium that a knowledgeable, willing third-party surety or specialty insurer would charge to assume the indemnification obligation in an arm’s-length transaction, consistent with the market participant framework of ASC 820-10-35-9. The following table summarizes this non-recurring fair value measurement as of the initial recognition date: Schedule of Non-Recurring Fair Value Measurement <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold"></td><td> </td> <td colspan="2" id="xdx_497_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsNonrecurringMember_zTHB3i2HGepc"> </td><td> </td><td> </td> <td colspan="2" id="xdx_497_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsNonrecurringMember_zHuimZ4xgkGh"> </td><td> </td><td> </td> <td colspan="2" id="xdx_497_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsNonrecurringMember_zIcvGRvS4MIc"> </td><td> </td><td> </td> <td colspan="2" id="xdx_49F_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsNonrecurringMember_zGLY9xkfIYAh"> </td><td> </td><td> </td> <td colspan="2" id="xdx_498_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsNonrecurringMember_z4XuzCTjfcOi"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Carrying amount $</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Fair value $</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair value measurement using</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </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; font-weight: bold; text-align: center">Level 1 $</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; font-weight: bold; text-align: center">Level 2 $</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; font-weight: bold; text-align: center">Level 3 $</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40B_ecustom--StandreadyGuaranteeLiabilityNetNonCurrent_iI_zvWrUoEH63M4" style="vertical-align: bottom; background-color: White"> <td style="width: 30%; text-align: left">Stand-ready guarantee liability</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">2,135,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">2,135,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">2,135,000</td><td style="width: 1%; text-align: left"> </td></tr> </table> Level 3 Measurement - Significant Unobservable Inputs <p id="xdx_89D_eus-gaap--FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_zYArP563Zmaf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The ASC 460 Guarantee liability was classified as Level 3 because its fair value was determined using significant unobservable inputs for which there is no active market. The following table summarizes the valuation methodology and significant unobservable inputs used in the Level 3 measurement: Schedule of Valuation Methodology and Significant Unobservable Inputs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%">Input</td> <td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 50%">Value Used</td> <td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 30%">Sensitivity</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td id="xdx_98A_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--InputOneMember_zzfoBCFuxwR4" style="font: 10pt Times New Roman, Times, Serif; width: 16%" title="Input">Probability of Default -Tranches A & B (Ratings 2–5, pooled)</td> <td style="width: 2%"> </td> <td id="xdx_98B_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--ProbabilityOfDefaultTranchesAAndBMember_zP293EiVr4th" style="font: 10pt Times New Roman, Times, Serif; width: 50%" title="Value Used">7.25%, derived from loan level analysis of the portfolio.</td> <td style="width: 2%"> </td> <td id="xdx_984_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--ProbabilityOfDefaultTranchesAAndBMember_ztLctgO6RZOb" style="font: 10pt Times New Roman, Times, Serif; width: 30%" title="Sensitivity">An increase raises fair value</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Probability of Default - Tranche C (Rating 9, individually evaluated)</td> <td> </td> <td id="xdx_988_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--ProbabilityOfDefaultTrancheCMember_z6VGH8aV9gF6" style="font: 10pt Times New Roman, Times, Serif" title="Value Used">35%, based on Rating 9 definition, past-maturity status, and personal guarantees</td> <td> </td> <td id="xdx_982_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--ProbabilityOfDefaultTrancheCMember_zNR5R4tbTf4d" style="font: 10pt Times New Roman, Times, Serif" title="Sensitivity">An increase raises fair value</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Loss Given Default - Tranches A & B</td> <td> </td> <td id="xdx_98C_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--LossGivenDefaultTranchesAAndBMember_z0QPyMFgetR" style="font: 10pt Times New Roman, Times, Serif" title="Value Used">25.00% for Tranche A and 35% for Tranche B, inclusive of 13% cannabis-specific qualitative premium reflecting court access limitations, collateral possession restrictions, and refinancing risk</td> <td> </td> <td id="xdx_982_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--LossGivenDefaultTranchesAAndBMember_zcc32b3XemYj" style="font: 10pt Times New Roman, Times, Serif" title="Sensitivity">An increase raises fair value</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Loss Given Default - Tranche C (uncollateralized gap)</td> <td> </td> <td id="xdx_985_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--LossGivenDefaultTrancheCMember_zGh3F8gYadDk" style="font: 10pt Times New Roman, Times, Serif" title="Value Used">50%, representing the midpoint of the Rating 9 anticipated loss range applied to the uncollateralized exposure</td> <td> </td> <td id="xdx_98A_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--LossGivenDefaultTrancheCMember_zBu9g6Zez4Bb" style="font: 10pt Times New Roman, Times, Serif" title="Sensitivity">An increase raises fair value</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Stand-Ready Risk Premium</td> <td> </td> <td id="xdx_988_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--StandReadyRiskPremiumMember_zsmfwrJZuG2e" style="font: 10pt Times New Roman, Times, Serif" title="Value Used">120% loading applied to total expected loss, reflecting compensation for uncapped exposure, cannabis concentration risk, portfolio illiquidity, and six-year guarantee term commitment</td> <td> </td> <td id="xdx_988_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--StandReadyRiskPremiumMember_zRCNOY3aNF6a" style="font: 10pt Times New Roman, Times, Serif" title="Sensitivity">An increase raises fair value</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Discount Rate</td> <td> </td> <td id="xdx_982_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zLTv1UwOD7Xk" style="font: 10pt Times New Roman, Times, Serif" title="Value Used">4.0% risk-free rate (6-year Treasury)</td> <td> </td> <td id="xdx_988_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zKtWGKrwUB7a" style="font: 10pt Times New Roman, Times, Serif" title="Sensitivity">An increase reduces fair value</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Weighted Average Payout Timing</td> <td> </td> <td id="xdx_980_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--WeightedAveragePayoutTimingMember_z6GNK28WLrQ2" style="font: 10pt Times New Roman, Times, Serif" title="Value Used">Tranche A: 4 years; Tranche B: 3 years; Tranche C: 2 years; Stand-ready premium: 3 years — based on the portfolio’s contractual maturity profile</td> <td> </td> <td id="xdx_98D_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--WeightedAveragePayoutTimingMember_zRR867ggSxhk" style="font: 10pt Times New Roman, Times, Serif" title="Sensitivity">A longer weighted average payout timing reduces fair value</td></tr> </table> Fair Value of Financial Instruments The following tables present the carrying amounts and fair values of financial instruments on a non-recurring basis, by the level of valuation inputs in the fair value hierarchy, as of December 31, 2025 and December 31, 2024: Schedule of Carrying Amounts and Fair Values of Financial Instruments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49F_20251231__us-gaap--FairValueByMeasurementBasisAxis__us-gaap--CarryingReportedAmountFairValueDisclosureMember_zfRgjOireSWa" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49C_20251231__us-gaap--FairValueByMeasurementBasisAxis__us-gaap--EstimateOfFairValueFairValueDisclosureMember_zy2C3wnM6fq6" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49C_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z669mBMJfOmd" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 1 $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49D_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zlS78nrC7hX8" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 2 $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_491_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z2PtfdMuQ8ji" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 3 $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Carrying amount $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Fair value $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Fair value measurement using</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 1 $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 2 $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 3 $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr id="xdx_40B_eus-gaap--AssetsFairValueDisclosureAbstract_iB_zeW6cLvtojAj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_401_eus-gaap--CashAndCashEquivalentsFairValueDisclosure_i01I_zeuRVUKF0WG9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 30%; text-align: left; padding-left: 0pt">Cash and cash equivalents</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">6,779,040</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">6,779,040</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">6,779,040</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccountsReceivableFairValueDisclosure_i01I_zSGvnvV608Oa" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Forward purchase agreement</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LoansPayableFairValueDisclosure_i01I_zXiKidKxUip2" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Loans</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--MarketableSecuritiesNoncurrent_i01I_zK78r6XYStN1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Investment in preferred securities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,450,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,450,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,450,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesFairValueDisclosureAbstract_iB_zEvd0zqhDig6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredCompensationLiabilityCurrent_i01I_znWi5Ycf35p7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Deferred consideration</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,000,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,000,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,000,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PublicWarrantsFairValueDisclosure_i01I_zuIYvvEIqlL6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Public warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,896</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,896</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,896</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--PrivatePlacementWarrantsFairValueDisclosure_i01I_zYsepUdZN6h6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Private placement warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">14</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">14</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">14</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--PipeWarrantsFairValueDisclosure_i01I_zys1CV4Jmbla" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">PIPE warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">280</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">280</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">280</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--WarrantsFairValueDisclosure_i01I_zK8BaWJ7PFsa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Abaca warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">28,430</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">28,430</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">28,430</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20241231__us-gaap--FairValueByMeasurementBasisAxis__us-gaap--CarryingReportedAmountFairValueDisclosureMember_z2xFSBD3B2Mk" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231__us-gaap--FairValueByMeasurementBasisAxis__us-gaap--EstimateOfFairValueFairValueDisclosureMember_zbCfdDiSJUE2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zO57Mm8Yo3P4" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Level 1 $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zmdErLHnveci" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Level 2 $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z4JapWlmyke6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Level 3 $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Carrying amount $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Fair value $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Fair value measurement using</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Level 1 $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Level 2 $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Level 3 $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr id="xdx_40B_eus-gaap--AssetsFairValueDisclosureAbstract_iB_zyCkHrpChoce" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_404_eus-gaap--CashAndCashEquivalentsFairValueDisclosure_i01I_zNDBQNih8wi8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 30%; text-align: left">Cash and cash equivalents</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">2,324,647</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">2,324,647</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">2,324,647</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccountsReceivableFairValueDisclosure_i01I_zKZvfBVKYMLd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Forward purchase agreement</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,584,221</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,584,221</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,584,221</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LoansReceivableFairValueDisclosure_i01I_zYs91rnKa40a" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Loans</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">360,552</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">359,505</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">359,505</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesFairValueDisclosureAbstract_iB_zISLqJHY7at6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredCompensationLiabilityCurrent_i01I_zufFaAJNgkQl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred consideration</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,016,343</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,016,343</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,016,343</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DebtInstrumentFairValue_i01I_maLzJOP_zo3f4jKrJns7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Senior secured promissory note</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">11,004,173</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,221,652</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,221,652</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--PublicWarrantsFairValueDisclosure_i01I_zSuffOAuUj07" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Public warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">246,445</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">246,445</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">246,445</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--PrivatePlacementWarrantsFairValueDisclosure_i01I_zMQZYYS1PpB4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Private placement warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9,632</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9,632</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9,632</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--PipeWarrantsFairValueDisclosure_i01I_z1qaMX3Th7kb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">PIPE warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">79,512</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">79,512</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">79,512</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--WarrantsFairValueDisclosure_i01I_z01Bd7OggxL4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Abaca warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,024,900</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,024,900</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,024,900</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--ThirdAnniversaryPaymentConsiderationFairValueDisclosure_i01I_zhu6ibkk0it8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Third anniversary payment consideration</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">322,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">322,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">322,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DerivativeLiabilitiesNoncurrent_i01I_zBvn9rp2rQH3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Forward purchase derivative</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> The change in the liability measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value are presented in the following table: Schedule of Fair Value Assets Measured on Recurring Basis <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BB_us-gaap--FairValueByAssetClassAxis_custom--PIPEWarrantsMember_zfUrhHtltsbc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B7_us-gaap--FairValueByAssetClassAxis_custom--AbacaWarrantMember_zJu9iGqCof38" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrant</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BC_us-gaap--FairValueByAssetClassAxis_custom--PrivatePlacementWarrantsMember_zy3WNEG9QQCa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Placement Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B2_us-gaap--FairValueByAssetClassAxis_custom--ThirdAnniversaryPaymentConsiderationMember_zhPdD28YD6fi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third anniversary payment consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B5_us-gaap--FairValueByAssetClassAxis_custom--ForwardPurchaseDerivativeMember_z4o7j5anbmCj" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Forward Purchase Derivative</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Year Ended December 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrant</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Placement Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third anniversary payment consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Forward Purchase Derivative</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr id="xdx_43A_c20250101__20251231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_zdN98oAjAQPc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 30%">Balance, January 1, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">79,512</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">1,024,900</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">9,632</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">322,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AssetsFairValueAdjustment_zhtQgBBpG759" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Fair value adjustment</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(79,232</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(996,470</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(9,618</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(63,133</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--ExchangedForCommonStock_zYofaheO5nbl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exchanged for Common Stock</td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">258,867</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr id="xdx_400_eus-gaap--EquityFairValueAdjustment_zl3vltbr3awk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; width: 30%">Exchanged for Series B Convertible Preferred Stock and Series B Warrants</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">(7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%">)</td></tr> <tr id="xdx_43F_c20250101__20251231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_z9Gzd30dObud" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Balance, December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">280</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">28,430</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">14</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BE_us-gaap--FairValueByAssetClassAxis_custom--PIPEWarrantsMember_zRZQF2feG3Hc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BB_us-gaap--FairValueByAssetClassAxis_custom--AbacaWarrantMember_z8julrUrqshi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrant</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B1_us-gaap--FairValueByAssetClassAxis_custom--PrivatePlacementWarrantsMember_zr85ClD7D8Ja" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Placement Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BE_us-gaap--FairValueByAssetClassAxis_custom--ThirdAnniversaryPaymentConsiderationMember_zgke3yB8skvb" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third anniversary payment consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B3_us-gaap--FairValueByAssetClassAxis_custom--ForwardPurchaseDerivativeMember_z2qlTrzMsLUl" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Forward Purchase Derivative</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Year ended December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrant</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Placement Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third anniversary payment consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Forward Purchase Derivative</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr id="xdx_43A_c20240101__20241231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_zIEUmQj2pyJe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 30%">Balance, January 1, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">273,124</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">3,384,085</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">25,070</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">810,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_437_c20240101__20241231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_zGokDUP10Vml" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Beginning balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">273,124</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,384,085</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">25,070</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">810,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AssetsFairValueAdjustment_zJn4LeZ3pLbd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Fair value adjustment</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(193,612</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,359,185</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(15,438</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(488,000</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_433_c20240101__20241231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_zYm5YkiCIo5b" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Balance, December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">79,512</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,024,900</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">9,632</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">322,000</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_43D_c20240101__20241231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_zQOT2AMTDCt4" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Ending balance</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">79,512</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,024,900</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">9,632</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">322,000</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of December 31, 2025 and on December 31, 2024, the fair market of the private placement warrants, Abaca warrants and PIPE warrants, were based on Black-Scholes Merton option pricing model. The valuation was performed by the Company as of December 31, 2025, and by a third-party prior for prior periods. During the year ended December 31, 2025 and December 31, 2024, there were no changes in the classification of financial instruments within Level 2 and Level 3 of the fair value hierarchy. <p id="xdx_898_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_hus-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zE3pDkyu2Qs9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table provides quantitative information regarding Level 3 fair value measurements inputs as it relates to the private placement warrants, public warrants, third anniversary payment consideration and Abaca warrants as of their measurement dates: Schedule of Level 3 Fair Value Measurements Inputs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231__us-gaap--FairValueByAssetClassAxis__custom--PIPEWarrantsMember_zpwjS3jHf5Fa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231__us-gaap--FairValueByAssetClassAxis__custom--PrivateWarrantsMember_zmDhZN8yel8a" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231__us-gaap--FairValueByAssetClassAxis__custom--ThirdAnniversaryPaymentConsiderationMember_zRqD3aMfLaZi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third Anniversary Payment Consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20251231__us-gaap--FairValueByAssetClassAxis__custom--AbacaWarrantMember_zxbPhYyczF47" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241231__us-gaap--FairValueByAssetClassAxis__custom--PIPEWarrantsMember_zE0dxrfK5tC" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231__us-gaap--FairValueByAssetClassAxis__custom--PrivateWarrantsMember_zA81DvYCFGh4" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231__us-gaap--FairValueByAssetClassAxis__custom--ThirdAnniversaryPaymentConsiderationMember_zCzE2GGPOgdc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third Anniversary Payment Consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20241231__us-gaap--FairValueByAssetClassAxis__custom--AbacaWarrantMember_zNb5ZT0P72ne" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As on December 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As on December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third Anniversary Payment Consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third Anniversary Payment Consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uUSDPShares_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_znpxDi6IVG4e" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 28%">Exercise price</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">100</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">230.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">40.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">100.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">230.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">40.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uUSDPShares_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_z5BvKZ4wd3hb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Share price</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.06</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.06</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.06</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9.00</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9.00</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9.00</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9.00</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expected term (years)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--PIPEWarrantsMember_zdIns22mCgZ8" title="Expected term (years)">1.7</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--PrivateWarrantsMember_ztR01x6Wjfs9" title="Expected term (years)">1.7</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--AbacaWarrantMember_zNeuSm8bDBnj" title="Expected term (years)">2.8</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--PIPEWarrantsMember_zlK7j6DOvN5l" title="Expected term (years)">2.7</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--PrivateWarrantsMember_zVGsA3N2xJDf" title="Expected term (years)">2.7</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--ThirdAnniversaryPaymentConsiderationMember_zHTDfAHaI7n2" title="Expected term (years)">0.8</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--AbacaWarrantMember_zdpFeKMzJ5ja" title="Expected term (years)">3.87</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zyokayPa5Qth" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Volatility</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">115</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">115</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">115</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">103</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">103</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">103</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">103</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr id="xdx_406_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zbxMUuxoaY36" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Risk-free rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zcNSJZnscFa4" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Measurement input</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table> On October 3, 2025, the Company issued <span id="xdx_903_eus-gaap--SharesIssued_iI_c20251003__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--TypeOfArrangementAxis__custom--AcquisitionAgreementMember_zWuT9xnxoayl" title="Shares issued to settle liability">37,517 shares of Common Stock to the Abaca shareholders as part of the third anniversary consideration payment under the acquisition agreement (see Note 3), valued at $<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_pn5n6_c20251003__20251003__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--TypeOfArrangementAxis__custom--AcquisitionAgreementMember_zMqQ2FK1xaZf" title="Shares issued, value">0.3 million.

1500000

37517

40.00

3300000

The following tables summarize financial assets and liabilities recorded at fair value on a recurring basis, by the level of valuation inputs in the fair value hierarchy on December 31, 2025 and December 31, 2024: Schedule of Financial Assets and Liabilities Recorded at Fair Value <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td></td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20251231_zFiaxwo0jQqe" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zm7i7KWaqLej" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zfZC9KcMRK5f" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20241231_zWiPYSpeqps9" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zHMNrT0yasCf" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zxjiAEEQE5ll" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Inputs (Level 3)</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; font-weight: bold; text-align: center">Total Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Description</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="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-style: italic">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><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="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_ecustom--DeferredConsiderationPayment_iI_hus-gaap--FinancialInstrumentAxis__custom--PIPEWarrantsMember_zvT1iKiIhxh9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">PIPE warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">280</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">280</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">79,512</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">79,512</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DeferredConsiderationPayment_iI_hus-gaap--FinancialInstrumentAxis__custom--PublicWarrantsMember_zsj1lzAyObHb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Public warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,896</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,896</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">246,445</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">246,445</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></tr> <tr id="xdx_405_ecustom--DeferredConsiderationPayment_iI_hus-gaap--FinancialInstrumentAxis__custom--PrivatePlacementWarrantsMember_z7NnYEbdloeb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Private placement warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,632</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,632</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DeferredConsiderationPayment_iI_hus-gaap--FinancialInstrumentAxis__custom--AbacaWarrantsMember_z0lrs2VeDPvk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Abaca warrant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,430</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,430</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,024,900</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,024,900</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--DeferredConsiderationPayment_iI_hus-gaap--FinancialInstrumentAxis__custom--ForwardPurchaseDerivativeLiabilityMember_zj5UaxteMN9f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Forward purchase derivative 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><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,309,580</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,309,580</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--DeferredConsiderationPayment_iI_zRRxEI5wFM7e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Third anniversary payment consideration</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">322,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">322,000</td><td style="text-align: left"> </td></tr> </table>

280 280 79512 79512 10896 10896 246445 246445 14 14 9632 9632 28430 28430 1024900 1024900 7309580 7309580 322000 322000 2100000

Schedule of Non-Recurring Fair Value Measurement <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold"></td><td> </td> <td colspan="2" id="xdx_497_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsNonrecurringMember_zTHB3i2HGepc"> </td><td> </td><td> </td> <td colspan="2" id="xdx_497_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsNonrecurringMember_zHuimZ4xgkGh"> </td><td> </td><td> </td> <td colspan="2" id="xdx_497_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsNonrecurringMember_zIcvGRvS4MIc"> </td><td> </td><td> </td> <td colspan="2" id="xdx_49F_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsNonrecurringMember_zGLY9xkfIYAh"> </td><td> </td><td> </td> <td colspan="2" id="xdx_498_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsNonrecurringMember_z4XuzCTjfcOi"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Carrying amount $</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Fair value $</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair value measurement using</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </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; font-weight: bold; text-align: center">Level 1 $</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; font-weight: bold; text-align: center">Level 2 $</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; font-weight: bold; text-align: center">Level 3 $</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40B_ecustom--StandreadyGuaranteeLiabilityNetNonCurrent_iI_zvWrUoEH63M4" style="vertical-align: bottom; background-color: White"> <td style="width: 30%; text-align: left">Stand-ready guarantee liability</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">2,135,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">2,135,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">2,135,000</td><td style="width: 1%; text-align: left"> </td></tr> </table>

2135000 2135000 2135000

<p id="xdx_89D_eus-gaap--FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_zYArP563Zmaf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The ASC 460 Guarantee liability was classified as Level 3 because its fair value was determined using significant unobservable inputs for which there is no active market. The following table summarizes the valuation methodology and significant unobservable inputs used in the Level 3 measurement: Schedule of Valuation Methodology and Significant Unobservable Inputs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%">Input</td> <td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 50%">Value Used</td> <td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 30%">Sensitivity</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td id="xdx_98A_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--InputOneMember_zzfoBCFuxwR4" style="font: 10pt Times New Roman, Times, Serif; width: 16%" title="Input">Probability of Default -Tranches A & B (Ratings 2–5, pooled)</td> <td style="width: 2%"> </td> <td id="xdx_98B_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--ProbabilityOfDefaultTranchesAAndBMember_zP293EiVr4th" style="font: 10pt Times New Roman, Times, Serif; width: 50%" title="Value Used">7.25%, derived from loan level analysis of the portfolio.</td> <td style="width: 2%"> </td> <td id="xdx_984_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--ProbabilityOfDefaultTranchesAAndBMember_ztLctgO6RZOb" style="font: 10pt Times New Roman, Times, Serif; width: 30%" title="Sensitivity">An increase raises fair value</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Probability of Default - Tranche C (Rating 9, individually evaluated)</td> <td> </td> <td id="xdx_988_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--ProbabilityOfDefaultTrancheCMember_z6VGH8aV9gF6" style="font: 10pt Times New Roman, Times, Serif" title="Value Used">35%, based on Rating 9 definition, past-maturity status, and personal guarantees</td> <td> </td> <td id="xdx_982_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--ProbabilityOfDefaultTrancheCMember_zNR5R4tbTf4d" style="font: 10pt Times New Roman, Times, Serif" title="Sensitivity">An increase raises fair value</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Loss Given Default - Tranches A & B</td> <td> </td> <td id="xdx_98C_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--LossGivenDefaultTranchesAAndBMember_z0QPyMFgetR" style="font: 10pt Times New Roman, Times, Serif" title="Value Used">25.00% for Tranche A and 35% for Tranche B, inclusive of 13% cannabis-specific qualitative premium reflecting court access limitations, collateral possession restrictions, and refinancing risk</td> <td> </td> <td id="xdx_982_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--LossGivenDefaultTranchesAAndBMember_zcc32b3XemYj" style="font: 10pt Times New Roman, Times, Serif" title="Sensitivity">An increase raises fair value</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Loss Given Default - Tranche C (uncollateralized gap)</td> <td> </td> <td id="xdx_985_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--LossGivenDefaultTrancheCMember_zGh3F8gYadDk" style="font: 10pt Times New Roman, Times, Serif" title="Value Used">50%, representing the midpoint of the Rating 9 anticipated loss range applied to the uncollateralized exposure</td> <td> </td> <td id="xdx_98A_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--LossGivenDefaultTrancheCMember_zBu9g6Zez4Bb" style="font: 10pt Times New Roman, Times, Serif" title="Sensitivity">An increase raises fair value</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Stand-Ready Risk Premium</td> <td> </td> <td id="xdx_988_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--StandReadyRiskPremiumMember_zsmfwrJZuG2e" style="font: 10pt Times New Roman, Times, Serif" title="Value Used">120% loading applied to total expected loss, reflecting compensation for uncapped exposure, cannabis concentration risk, portfolio illiquidity, and six-year guarantee term commitment</td> <td> </td> <td id="xdx_988_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--StandReadyRiskPremiumMember_zRCNOY3aNF6a" style="font: 10pt Times New Roman, Times, Serif" title="Sensitivity">An increase raises fair value</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Discount Rate</td> <td> </td> <td id="xdx_982_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zLTv1UwOD7Xk" style="font: 10pt Times New Roman, Times, Serif" title="Value Used">4.0% risk-free rate (6-year Treasury)</td> <td> </td> <td id="xdx_988_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zKtWGKrwUB7a" style="font: 10pt Times New Roman, Times, Serif" title="Sensitivity">An increase reduces fair value</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Weighted Average Payout Timing</td> <td> </td> <td id="xdx_980_ecustom--DerivativeSignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--WeightedAveragePayoutTimingMember_z6GNK28WLrQ2" style="font: 10pt Times New Roman, Times, Serif" title="Value Used">Tranche A: 4 years; Tranche B: 3 years; Tranche C: 2 years; Stand-ready premium: 3 years — based on the portfolio’s contractual maturity profile</td> <td> </td> <td id="xdx_98D_ecustom--SensitivitySignificantUnobservable_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__custom--WeightedAveragePayoutTimingMember_zRR867ggSxhk" style="font: 10pt Times New Roman, Times, Serif" title="Sensitivity">A longer weighted average payout timing reduces fair value</td></tr> </table>

Probability of Default -Tranches A & B (Ratings 2–5, pooled) 7.25%, derived from loan level analysis of the portfolio. An increase raises fair value 35%, based on Rating 9 definition, past-maturity status, and personal guarantees An increase raises fair value 25.00% for Tranche A and 35% for Tranche B, inclusive of 13% cannabis-specific qualitative premium reflecting court access limitations, collateral possession restrictions, and refinancing risk An increase raises fair value 50%, representing the midpoint of the Rating 9 anticipated loss range applied to the uncollateralized exposure An increase raises fair value 120% loading applied to total expected loss, reflecting compensation for uncapped exposure, cannabis concentration risk, portfolio illiquidity, and six-year guarantee term commitment An increase raises fair value 4.0% risk-free rate (6-year Treasury) An increase reduces fair value Tranche A: 4 years; Tranche B: 3 years; Tranche C: 2 years; Stand-ready premium: 3 years — based on the portfolio’s contractual maturity profile A longer weighted average payout timing reduces fair value

Schedule of Carrying Amounts and Fair Values of Financial Instruments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49F_20251231__us-gaap--FairValueByMeasurementBasisAxis__us-gaap--CarryingReportedAmountFairValueDisclosureMember_zfRgjOireSWa" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49C_20251231__us-gaap--FairValueByMeasurementBasisAxis__us-gaap--EstimateOfFairValueFairValueDisclosureMember_zy2C3wnM6fq6" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49C_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z669mBMJfOmd" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 1 $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49D_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zlS78nrC7hX8" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 2 $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_491_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z2PtfdMuQ8ji" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 3 $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Carrying amount $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Fair value $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Fair value measurement using</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 1 $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 2 $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Level 3 $</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr id="xdx_40B_eus-gaap--AssetsFairValueDisclosureAbstract_iB_zeW6cLvtojAj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_401_eus-gaap--CashAndCashEquivalentsFairValueDisclosure_i01I_zeuRVUKF0WG9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 30%; text-align: left; padding-left: 0pt">Cash and cash equivalents</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">6,779,040</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">6,779,040</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">6,779,040</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccountsReceivableFairValueDisclosure_i01I_zSGvnvV608Oa" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Forward purchase agreement</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LoansPayableFairValueDisclosure_i01I_zXiKidKxUip2" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Loans</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--MarketableSecuritiesNoncurrent_i01I_zK78r6XYStN1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Investment in preferred securities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,450,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,450,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,450,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesFairValueDisclosureAbstract_iB_zEvd0zqhDig6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredCompensationLiabilityCurrent_i01I_znWi5Ycf35p7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Deferred consideration</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,000,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,000,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,000,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PublicWarrantsFairValueDisclosure_i01I_zuIYvvEIqlL6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Public warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,896</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,896</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,896</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--PrivatePlacementWarrantsFairValueDisclosure_i01I_zYsepUdZN6h6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Private placement warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">14</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">14</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">14</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--PipeWarrantsFairValueDisclosure_i01I_zys1CV4Jmbla" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">PIPE warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">280</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">280</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">280</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--WarrantsFairValueDisclosure_i01I_zK8BaWJ7PFsa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0pt">Abaca warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">28,430</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">28,430</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">28,430</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20241231__us-gaap--FairValueByMeasurementBasisAxis__us-gaap--CarryingReportedAmountFairValueDisclosureMember_z2xFSBD3B2Mk" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231__us-gaap--FairValueByMeasurementBasisAxis__us-gaap--EstimateOfFairValueFairValueDisclosureMember_zbCfdDiSJUE2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zO57Mm8Yo3P4" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Level 1 $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zmdErLHnveci" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Level 2 $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z4JapWlmyke6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Level 3 $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Carrying amount $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Fair value $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Fair value measurement using</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Level 1 $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Level 2 $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Level 3 $</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr id="xdx_40B_eus-gaap--AssetsFairValueDisclosureAbstract_iB_zyCkHrpChoce" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_404_eus-gaap--CashAndCashEquivalentsFairValueDisclosure_i01I_zNDBQNih8wi8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 30%; text-align: left">Cash and cash equivalents</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">2,324,647</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">2,324,647</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">2,324,647</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccountsReceivableFairValueDisclosure_i01I_zKZvfBVKYMLd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Forward purchase agreement</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,584,221</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,584,221</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,584,221</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LoansReceivableFairValueDisclosure_i01I_zYs91rnKa40a" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Loans</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">360,552</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">359,505</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">359,505</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesFairValueDisclosureAbstract_iB_zISLqJHY7at6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredCompensationLiabilityCurrent_i01I_zufFaAJNgkQl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred consideration</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,016,343</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,016,343</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,016,343</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DebtInstrumentFairValue_i01I_maLzJOP_zo3f4jKrJns7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Senior secured promissory note</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">11,004,173</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,221,652</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,221,652</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--PublicWarrantsFairValueDisclosure_i01I_zSuffOAuUj07" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Public warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">246,445</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">246,445</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">246,445</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--PrivatePlacementWarrantsFairValueDisclosure_i01I_zMQZYYS1PpB4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Private placement warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9,632</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9,632</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9,632</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--PipeWarrantsFairValueDisclosure_i01I_z1qaMX3Th7kb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">PIPE warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">79,512</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">79,512</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">79,512</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--WarrantsFairValueDisclosure_i01I_z01Bd7OggxL4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Abaca warrants</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,024,900</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,024,900</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,024,900</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--ThirdAnniversaryPaymentConsiderationFairValueDisclosure_i01I_zhu6ibkk0it8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Third anniversary payment consideration</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">322,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">322,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">322,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DerivativeLiabilitiesNoncurrent_i01I_zBvn9rp2rQH3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Forward purchase derivative</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

6779040

1450000

3000000

10896 10896 10896 14 14 14 280 280 280 28430 28430 28430

2324647

4584221

360552

359505

3016343

11004173

10221652

246445 246445 246445 9632 9632 9632 79512 79512 79512 1024900 1024900 1024900 322000 322000 322000

7309580

The change in the liability measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value are presented in the following table: Schedule of Fair Value Assets Measured on Recurring Basis <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BB_us-gaap--FairValueByAssetClassAxis_custom--PIPEWarrantsMember_zfUrhHtltsbc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B7_us-gaap--FairValueByAssetClassAxis_custom--AbacaWarrantMember_zJu9iGqCof38" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrant</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BC_us-gaap--FairValueByAssetClassAxis_custom--PrivatePlacementWarrantsMember_zy3WNEG9QQCa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Placement Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B2_us-gaap--FairValueByAssetClassAxis_custom--ThirdAnniversaryPaymentConsiderationMember_zhPdD28YD6fi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third anniversary payment consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B5_us-gaap--FairValueByAssetClassAxis_custom--ForwardPurchaseDerivativeMember_z4o7j5anbmCj" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Forward Purchase Derivative</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Year Ended December 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrant</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Placement Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third anniversary payment consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Forward Purchase Derivative</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr id="xdx_43A_c20250101__20251231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_zdN98oAjAQPc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 30%">Balance, January 1, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">79,512</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">1,024,900</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">9,632</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">322,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AssetsFairValueAdjustment_zhtQgBBpG759" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Fair value adjustment</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(79,232</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(996,470</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(9,618</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(63,133</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--ExchangedForCommonStock_zYofaheO5nbl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exchanged for Common Stock</td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">258,867</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr id="xdx_400_eus-gaap--EquityFairValueAdjustment_zl3vltbr3awk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; width: 30%">Exchanged for Series B Convertible Preferred Stock and Series B Warrants</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">(7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%">)</td></tr> <tr id="xdx_43F_c20250101__20251231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_z9Gzd30dObud" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Balance, December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">280</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">28,430</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">14</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BE_us-gaap--FairValueByAssetClassAxis_custom--PIPEWarrantsMember_zRZQF2feG3Hc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BB_us-gaap--FairValueByAssetClassAxis_custom--AbacaWarrantMember_z8julrUrqshi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrant</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B1_us-gaap--FairValueByAssetClassAxis_custom--PrivatePlacementWarrantsMember_zr85ClD7D8Ja" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Placement Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BE_us-gaap--FairValueByAssetClassAxis_custom--ThirdAnniversaryPaymentConsiderationMember_zgke3yB8skvb" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third anniversary payment consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B3_us-gaap--FairValueByAssetClassAxis_custom--ForwardPurchaseDerivativeMember_z2qlTrzMsLUl" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Forward Purchase Derivative</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Year ended December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrant</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Placement Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third anniversary payment consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Forward Purchase Derivative</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr id="xdx_43A_c20240101__20241231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_zIEUmQj2pyJe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 30%">Balance, January 1, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">273,124</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">3,384,085</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">25,070</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">810,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_437_c20240101__20241231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_zGokDUP10Vml" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Beginning balance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">273,124</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,384,085</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">25,070</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">810,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AssetsFairValueAdjustment_zJn4LeZ3pLbd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Fair value adjustment</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(193,612</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,359,185</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(15,438</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(488,000</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_433_c20240101__20241231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_zYm5YkiCIo5b" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Balance, December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">79,512</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,024,900</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">9,632</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">322,000</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_43D_c20240101__20241231_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_zQOT2AMTDCt4" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Ending balance</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">79,512</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,024,900</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">9,632</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">322,000</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">7,309,580</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

79512

1024900

9632

322000

7309580

-79232

-996470

-9618

-63133

258867

-7309580

280

28430

273124

3384085

25070

810000

7309580

273124

3384085

25070

810000

7309580

-193612

-2359185

-15438

-488000

79512

1024900

9632

322000

7309580

79512

1024900

9632

322000

7309580

<p id="xdx_898_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_hus-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zE3pDkyu2Qs9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table provides quantitative information regarding Level 3 fair value measurements inputs as it relates to the private placement warrants, public warrants, third anniversary payment consideration and Abaca warrants as of their measurement dates: Schedule of Level 3 Fair Value Measurements Inputs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231__us-gaap--FairValueByAssetClassAxis__custom--PIPEWarrantsMember_zpwjS3jHf5Fa" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231__us-gaap--FairValueByAssetClassAxis__custom--PrivateWarrantsMember_zmDhZN8yel8a" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231__us-gaap--FairValueByAssetClassAxis__custom--ThirdAnniversaryPaymentConsiderationMember_zRqD3aMfLaZi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third Anniversary Payment Consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20251231__us-gaap--FairValueByAssetClassAxis__custom--AbacaWarrantMember_zxbPhYyczF47" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241231__us-gaap--FairValueByAssetClassAxis__custom--PIPEWarrantsMember_zE0dxrfK5tC" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231__us-gaap--FairValueByAssetClassAxis__custom--PrivateWarrantsMember_zA81DvYCFGh4" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231__us-gaap--FairValueByAssetClassAxis__custom--ThirdAnniversaryPaymentConsiderationMember_zCzE2GGPOgdc" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third Anniversary Payment Consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20241231__us-gaap--FairValueByAssetClassAxis__custom--AbacaWarrantMember_zNb5ZT0P72ne" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As on December 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As on December 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third Anniversary Payment Consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">PIPE Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Private Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Third Anniversary Payment Consideration</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Abaca Warrants</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uUSDPShares_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_znpxDi6IVG4e" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 28%">Exercise price</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">100</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">230.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">40.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">100.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">230.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">40.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uUSDPShares_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_z5BvKZ4wd3hb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Share price</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.06</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.06</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.06</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9.00</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9.00</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9.00</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9.00</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expected term (years)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--PIPEWarrantsMember_zdIns22mCgZ8" title="Expected term (years)">1.7</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--PrivateWarrantsMember_ztR01x6Wjfs9" title="Expected term (years)">1.7</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--AbacaWarrantMember_zNeuSm8bDBnj" title="Expected term (years)">2.8</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--PIPEWarrantsMember_zlK7j6DOvN5l" title="Expected term (years)">2.7</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--PrivateWarrantsMember_zVGsA3N2xJDf" title="Expected term (years)">2.7</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--ThirdAnniversaryPaymentConsiderationMember_zHTDfAHaI7n2" title="Expected term (years)">0.8</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--FairValueByAssetClassAxis__custom--AbacaWarrantMember_zdpFeKMzJ5ja" title="Expected term (years)">3.87</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zyokayPa5Qth" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Volatility</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">115</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">115</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">115</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">103</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">103</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">103</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">103</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr id="xdx_406_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zbxMUuxoaY36" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Risk-free rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zcNSJZnscFa4" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Measurement input</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table>

100

230.00

40.00

100.00

230.00

40.00

1.06

9.00

P1Y8M12D

P2Y9M18D

P2Y8M12D

P0Y9M18D

P3Y10M13D

115

103

3.5

4.3

3.5

4.3

37517

300000

Note 18 - Income Taxes The major components of income tax expense (benefit) for the year ended December 31, 2025 and December 31, 2024 as follows: Schedule of Major Components of Income Tax <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">For The Year Ended December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20251231_zkrU2Ei4CUS3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240101__20241231_z55pBnimMxdi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Current income tax:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--CurrentIncomeTaxExpenseBenefit_maITEBzXvb_zr4zjByYq1a6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">Current (benefit) tax on profits</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">(58,470</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">) </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">30,665</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefit_maITEBzXvb_ztEx1T0XUISk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Deferred taxation - current year</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">43,829,019</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"></td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzXvb_zj6DrdiQjSj3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Income tax (benefit) expense</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(58,470</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">) </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">43,859,686</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The tables below reconcile the United States effective tax rate of 21% to the Company’s income tax (benefit) for the years ended December 31, 2025 (pursuant to ASU 203-09) and December 31, 2024. Schedule of Effective Income Tax Rate Reconciliation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_495_20250101__20251231_zqDA0AC0jDre" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: center"> </td> <td> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: center"> </td> <td> </td></tr> <tr id="xdx_40B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zEivC81YEx44" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left; padding-bottom: 2.5pt">Net loss before income taxes</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">(2,219,468</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 2.5pt; text-align: left">)</td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 16%"> </td> <td style="width: 1%"> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzeYF_ze7r8VeLDAo" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">United States federal statutory tax rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(466,088</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td> </td> <td> </td> <td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_maAXCD_c20250101__20251231_zuZmjVr5SOKc" style="text-align: right" title="United States federal statutory tax rate, percent">21.0</td> <td>%</td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_maITEBzeYF_z05Ybcs5U219" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Arkansas tax benefit, net of federal tax benefit</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(58,470</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td> </td> <td> </td> <td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_maAXCD_c20250101__20251231_zeoCei2xcYWb" style="text-align: right" title="Arkansas tax benefit, net of federal tax benefit, percent">2.6</td> <td>%</td></tr> <tr id="xdx_40D_ecustom--IncomeTaxReconciliationDeferredStateAndLocalIncomeTaxes_maITEBzeYF_zEfaQQwd42th" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred state income taxes, no federal benefit</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(172,158</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td> </td> <td> </td> <td id="xdx_98F_ecustom--EffectiveIncomeTaxRateReconciliationDeferredStateAndLocalIncomeTaxes_pid_dp_maAXCD_c20250101__20251231_zb456ndIZFi8" style="text-align: right" title="Deferred state income taxes, no federal benefit, percent">7.8</td> <td>%</td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_maITEBzeYF_zGNbWGRRlJae" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Permanent differences, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right" title="Deferred state income taxes, no federal benefit, percent"> </td> <td> </td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzeYF_z9ucLhgPaeT8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Changes in valuation allowance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,476,893</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td> </td> <td> </td> <td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_maAXCD_c20250101__20251231_zfk7nHnGqBu7" style="text-align: right" title="Changes in valuation allowance, percent">(66.5</td> <td>)%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Non-taxable or non-deductible items</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr id="xdx_408_ecustom--IncomeTaxReconciliationChangeInFairMarketValueOfWarrantLiability_maITEBzeYF_zXMQk6yWaKB3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left">Change in fair market value of warrant liability</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(277,383</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td> </td> <td> </td> <td id="xdx_983_ecustom--EffectiveIncomeTaxRateReconciliationChangeInFairMarketValueOfWarrantLiability_pid_dp_maAXCD_c20250101__20251231_zdg8vKYjWMT9" style="text-align: right" title="Change in fair market value of warrant liability, percent">12.5</td> <td>%</td></tr> <tr id="xdx_401_ecustom--IncomeTaxReconciliationGainOnExtinguishmentOfForwardPurchaseDerivativeAndExchangeOfDebt_maITEBzeYF_z2p4Gz5hNx52" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left">Gain on extinguishment of forward purchase derivative and exchange of debt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(700,605</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td> </td> <td> </td> <td id="xdx_98A_ecustom--EffectiveIncomeTaxRateReconciliationGainOnExtinguishmentOfForwardPurchaseDerivativeAndExchangeOfDebt_pid_dp_maAXCD_c20250101__20251231_zhWZ5M2fPQo4" style="text-align: right" title="Gain on extinguishment of forward purchase derivative and exchange of debt, percent">31.6</td> <td>%</td></tr> <tr id="xdx_403_ecustom--IncomeTaxReconciliationCostsIncurredToSecureFinancing_maITEBzeYF_z1feyNrvLtre" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left">Costs incurred to secure financing</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">168,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td> </td> <td> </td> <td id="xdx_987_ecustom--EffectiveIncomeTaxRateReconciliationCostsIncurredToSecureFinancing_pid_dp_maAXCD_c20250101__20251231_zhRqs1WQmmTg" style="text-align: right" title="Costs incurred to secure financing, percent">(7.6</td> <td>)%</td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzeYF_zlOXyAvGjLJk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt">Other</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(52,114</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td> </td> <td> </td> <td id="xdx_982_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_maAXCD_c20250101__20251231_zTA0co81Blqf" style="text-align: right" title="Other, percent">2.4</td> <td>%</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationPriorYearIncomeTaxes_maITEBzeYF_zvMiMSUDFV4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Prior year true up of deferred taxes</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">23,455</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes_pid_dp_maAXCD_c20250101__20251231_zPggbwSYsfu4" style="border-bottom: Black 1pt solid; text-align: right" title="Prior year true up of deferred taxes, percent">(1.0</td> <td style="padding-bottom: 1pt">)%</td></tr> <tr id="xdx_40B_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzeYF_z3BCVjcaaSh2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Income tax benefit</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(58,470</td><td style="font: bold 10pt Times New Roman, Times, Serif; 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: right"> </td> <td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_mtAXCD_c20250101__20251231_zlo1FFvIIYg4" style="border-bottom: Black 2.5pt double; text-align: right" title="Prior year true up of deferred taxes, percent">2.6</td> <td style="padding-bottom: 2.5pt">%</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_49B_20240101__20241231_z7mm82x07psk" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> </tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zwiTw2Xfwzy1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">Net loss before income taxes</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">(4,459,789</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td> </tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_zgGoPQ2UbzYl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">United States federal statutory income tax rate of 21%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(936,555</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> </tr> <tr id="xdx_407_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_zChNSZon5Gb8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">State income tax benefit, net of federal benefit</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(8,418</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> </tr> <tr id="xdx_407_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_zZhbA7Nnpf79" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Permanent differences, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">583,678</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> </tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_zItfsmI1WgKg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Valuation allowance charges affecting the provision for income taxes</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">44,277,923</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> </tr> <tr id="xdx_40E_eus-gaap--IncomeTaxReconciliationOtherAdjustments_zhFhsLaaI4Ol" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Other</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(56,942</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td> </tr> <tr id="xdx_409_eus-gaap--IncomeTaxExpenseBenefit_iT_zYy7mjmVDXf1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">43,859,686</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td> </tr> </table> As of December 31, 2025 and December 31, 2024, the significant component of the Company’s deferred tax assets and liabilities as follows: Schedule of deferred tax assets and liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_498_20251231_zHoB3AUdaCdk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49D_20241231_zI7gueis3423" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_495_20231231__us-gaap--ChangeInAccountingEstimateByTypeAxis__custom--ChangeInDeferredTaxMember_zXlRIv3hwBOi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Change</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: italic 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax assets:</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">  </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsCapitalLossCarryforwards_iI_zZbAlmfr5MCi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Capital loss carryover</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> $</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">70,627</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> $</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">70,627</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> $</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">- </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetsTaxDeferredExpenseStockOptionExpense_iI_zxa7E2pORpad" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Stock option expense</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,043,599</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,674,554</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">369,045</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsDeferredIncome_iI_zGneBQ71UGg4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred revenue</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,774</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">6,935</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(3,161</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsPropertyPlantAndEquipment_iI_zO39TJqYN493" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Fixed assets</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">8,794</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">23,992</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(15,198</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--DeferredTaxAssetsTransactionCosts_iI_zPZmd13LgST4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Transaction costs</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">924,764</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">942,062</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(17,298</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetsChangeInValueOfForwardPurchaseContract_iI_zozHmhPdR8G4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Forward purchase contract</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">8,155,953</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(8,155,953</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">) </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_zqEGLqy1l8eg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Goodwill</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">26,180,613</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">28,404,108</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(2,223,495</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_zgKmLJafASbj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">NOL carry forward</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">16,551,647</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5,030,672</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">11,520,975</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_iI_zjNtwmdfHT72" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left">Accrued expenses</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">3,917</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">3,917</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ContractWithCustomerAssetNet_i02I_zbNoifk6OiBa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Contract assets</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">789,914</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">789,914</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--OperatingLeaseRightToUseAssets_iI_zxTzJ1GURluc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">Right of use assets</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">173,934</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">214,124</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(40,190</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsGross_iTI_ziheaWYpYXO1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">Total deferred tax assets</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">46,751,583</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">44,523,027</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,228,556</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: italic 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax liabilities:</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">   </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">   </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">   </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--DeferredTaxAssetLeaseLiabilities_iNI_di_zEU93W1Yf3t9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Lease liabilities</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(133,944</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(172,195</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">38,251</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--FinancialIndemnificationLiabilities_i01NI_di_zdMxCi8TSsve" style="vertical-align: bottom; background-color: White"> <td style="width: 49%; text-align: left">Financial indemnification liability</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">(267,266</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: 14%; 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: 14%; text-align: right">(267,266</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_406_ecustom--StandreadyGuaranteeLiabilityNet_i01NI_di_z5DxjFf9BUFh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Stand ready liability</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">(522,648</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">(522,648</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_di_zAYistVaYA19" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 49%">Total deferred tax liabilities</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 14%">(923,858</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%">)</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 14%">(172,195</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%">)</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 14%">(751,663</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%">)</td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_zwaGLI4pRu79" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">Net deferred tax assets</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">45,827,725</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">44,350,832</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,476,893</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_zzm3bhhKfQVd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">Valuation allowance</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(45,827,725</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(44,350,832</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(1,476,893</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsNet_iTI_zeOtizo7gHyk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">Deferred tax asset</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">  - </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">  -</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> </table> The Company offsets tax assets and liabilities only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same tax authority. The Company does not consider their deferred tax assets to be realizable and has established full valuation allowance during the year ended December 31, 2025 and December 31, 2024. As of December 31, 2025, the Company has US federal tax loss carryovers $67.7 million. The Company has US federal tax loss carryovers $20.4 million arising from 2020 through 2022 which have an unlimited carryover period. The Company has State of Colorado loss carryovers arising in 2022 of $21.4 million which begin to expire in 2042. The Company currently has no tax examinations in progress. The Company has open years for examination from Federal, State of Arkansas and Colorado for the years ending December 31, 2020 and forward and from State of Colorado from December 31, 2021 and forward. The Company does not have any uncertain tax positions as of December 31, 2025. The Company has open years for examination from Federal and State of Arkansas for the years ended December 31, 2020 and forward and from State of Colorado from December 31, 2021 and forward. Section 382 Limitations on Net Operating Loss Carryforwards Pursuant to Section 382 of the Internal Revenue Code of 1986, as amended, a corporation that undergoes an “ownership change,” generally defined as a cumulative increase of more than 50 percentage points in the stock ownership of 5% shareholders within a rolling three-year period may have its ability to utilize pre-change net operating loss (“NOL”) carryforwards and certain other tax attributes significantly limited on an annual basis. Since inception, the Company has undergone a number of significant equity transactions, including its initial public offering, the reverse acquisition of Northern Lights Acquisition Corp., the acquisition of Abaca, various share issuances to settle obligations, and its September 2025 recapitalization. The Company has not completed a Section 382 analysis to determine whether one or more ownership changes have occurred or to quantify any resulting annual limitation. If it is determined that an ownership change has occurred, the annual limitation could materially reduce the Company’s ability to utilize its existing NOL carryforwards and other deferred tax assets to offset future taxable income.

Schedule of Major Components of Income Tax <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">For The Year Ended December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20251231_zkrU2Ei4CUS3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240101__20241231_z55pBnimMxdi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Current income tax:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--CurrentIncomeTaxExpenseBenefit_maITEBzXvb_zr4zjByYq1a6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">Current (benefit) tax on profits</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">(58,470</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">) </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">30,665</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax:</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefit_maITEBzXvb_ztEx1T0XUISk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Deferred taxation - current year</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">43,829,019</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"></td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzXvb_zj6DrdiQjSj3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Income tax (benefit) expense</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(58,470</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">) </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">43,859,686</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

-58470

30665

43829019

-58470

43859686

The tables below reconcile the United States effective tax rate of 21% to the Company’s income tax (benefit) for the years ended December 31, 2025 (pursuant to ASU 203-09) and December 31, 2024. Schedule of Effective Income Tax Rate Reconciliation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_495_20250101__20251231_zqDA0AC0jDre" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: center"> </td> <td> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: center"> </td> <td> </td></tr> <tr id="xdx_40B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zEivC81YEx44" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left; padding-bottom: 2.5pt">Net loss before income taxes</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">(2,219,468</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 2.5pt; text-align: left">)</td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 16%"> </td> <td style="width: 1%"> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzeYF_ze7r8VeLDAo" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">United States federal statutory tax rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(466,088</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td> </td> <td> </td> <td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_maAXCD_c20250101__20251231_zuZmjVr5SOKc" style="text-align: right" title="United States federal statutory tax rate, percent">21.0</td> <td>%</td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_maITEBzeYF_z05Ybcs5U219" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Arkansas tax benefit, net of federal tax benefit</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(58,470</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td> </td> <td> </td> <td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_maAXCD_c20250101__20251231_zeoCei2xcYWb" style="text-align: right" title="Arkansas tax benefit, net of federal tax benefit, percent">2.6</td> <td>%</td></tr> <tr id="xdx_40D_ecustom--IncomeTaxReconciliationDeferredStateAndLocalIncomeTaxes_maITEBzeYF_zEfaQQwd42th" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred state income taxes, no federal benefit</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(172,158</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td> </td> <td> </td> <td id="xdx_98F_ecustom--EffectiveIncomeTaxRateReconciliationDeferredStateAndLocalIncomeTaxes_pid_dp_maAXCD_c20250101__20251231_zb456ndIZFi8" style="text-align: right" title="Deferred state income taxes, no federal benefit, percent">7.8</td> <td>%</td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_maITEBzeYF_zGNbWGRRlJae" style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Permanent differences, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right" title="Deferred state income taxes, no federal benefit, percent"> </td> <td> </td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzeYF_z9ucLhgPaeT8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Changes in valuation allowance</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,476,893</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td> </td> <td> </td> <td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_maAXCD_c20250101__20251231_zfk7nHnGqBu7" style="text-align: right" title="Changes in valuation allowance, percent">(66.5</td> <td>)%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Non-taxable or non-deductible items</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr id="xdx_408_ecustom--IncomeTaxReconciliationChangeInFairMarketValueOfWarrantLiability_maITEBzeYF_zXMQk6yWaKB3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left">Change in fair market value of warrant liability</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(277,383</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td> </td> <td> </td> <td id="xdx_983_ecustom--EffectiveIncomeTaxRateReconciliationChangeInFairMarketValueOfWarrantLiability_pid_dp_maAXCD_c20250101__20251231_zdg8vKYjWMT9" style="text-align: right" title="Change in fair market value of warrant liability, percent">12.5</td> <td>%</td></tr> <tr id="xdx_401_ecustom--IncomeTaxReconciliationGainOnExtinguishmentOfForwardPurchaseDerivativeAndExchangeOfDebt_maITEBzeYF_z2p4Gz5hNx52" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left">Gain on extinguishment of forward purchase derivative and exchange of debt</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(700,605</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td> </td> <td> </td> <td id="xdx_98A_ecustom--EffectiveIncomeTaxRateReconciliationGainOnExtinguishmentOfForwardPurchaseDerivativeAndExchangeOfDebt_pid_dp_maAXCD_c20250101__20251231_zhWZ5M2fPQo4" style="text-align: right" title="Gain on extinguishment of forward purchase derivative and exchange of debt, percent">31.6</td> <td>%</td></tr> <tr id="xdx_403_ecustom--IncomeTaxReconciliationCostsIncurredToSecureFinancing_maITEBzeYF_z1feyNrvLtre" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left">Costs incurred to secure financing</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">168,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td> </td> <td> </td> <td id="xdx_987_ecustom--EffectiveIncomeTaxRateReconciliationCostsIncurredToSecureFinancing_pid_dp_maAXCD_c20250101__20251231_zhRqs1WQmmTg" style="text-align: right" title="Costs incurred to secure financing, percent">(7.6</td> <td>)%</td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzeYF_zlOXyAvGjLJk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt">Other</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(52,114</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td> </td> <td> </td> <td id="xdx_982_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_maAXCD_c20250101__20251231_zTA0co81Blqf" style="text-align: right" title="Other, percent">2.4</td> <td>%</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationPriorYearIncomeTaxes_maITEBzeYF_zvMiMSUDFV4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left; padding-bottom: 1pt">Prior year true up of deferred taxes</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">23,455</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes_pid_dp_maAXCD_c20250101__20251231_zPggbwSYsfu4" style="border-bottom: Black 1pt solid; text-align: right" title="Prior year true up of deferred taxes, percent">(1.0</td> <td style="padding-bottom: 1pt">)%</td></tr> <tr id="xdx_40B_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzeYF_z3BCVjcaaSh2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Income tax benefit</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(58,470</td><td style="font: bold 10pt Times New Roman, Times, Serif; 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: right"> </td> <td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_mtAXCD_c20250101__20251231_zlo1FFvIIYg4" style="border-bottom: Black 2.5pt double; text-align: right" title="Prior year true up of deferred taxes, percent">2.6</td> <td style="padding-bottom: 2.5pt">%</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_49B_20240101__20241231_z7mm82x07psk" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> </tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zwiTw2Xfwzy1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">Net loss before income taxes</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">(4,459,789</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td> </tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_zgGoPQ2UbzYl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">United States federal statutory income tax rate of 21%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(936,555</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> </tr> <tr id="xdx_407_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_zChNSZon5Gb8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">State income tax benefit, net of federal benefit</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(8,418</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> </tr> <tr id="xdx_407_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_zZhbA7Nnpf79" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Permanent differences, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">583,678</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> </tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_zItfsmI1WgKg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Valuation allowance charges affecting the provision for income taxes</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">44,277,923</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> </tr> <tr id="xdx_40E_eus-gaap--IncomeTaxReconciliationOtherAdjustments_zhFhsLaaI4Ol" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Other</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(56,942</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td> </tr> <tr id="xdx_409_eus-gaap--IncomeTaxExpenseBenefit_iT_zYy7mjmVDXf1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">43,859,686</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td> </tr> </table>

-2219468

-466088

0.210

-58470

0.026

-172158 0.078

1476893

-0.665

-277383 0.125 -700605 0.316 168000 -0.076

-52114

0.024

23455

-0.010

-58470

0.026

-4459789

-936555

-8418

583678

44277923

-56942

43859686

Schedule of deferred tax assets and liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_498_20251231_zHoB3AUdaCdk" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49D_20241231_zI7gueis3423" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_495_20231231__us-gaap--ChangeInAccountingEstimateByTypeAxis__custom--ChangeInDeferredTaxMember_zXlRIv3hwBOi" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Change</td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: italic 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax assets:</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">  </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsCapitalLossCarryforwards_iI_zZbAlmfr5MCi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Capital loss carryover</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> $</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">70,627</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> $</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">70,627</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> $</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">- </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetsTaxDeferredExpenseStockOptionExpense_iI_zxa7E2pORpad" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Stock option expense</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,043,599</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,674,554</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">369,045</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsDeferredIncome_iI_zGneBQ71UGg4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred revenue</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,774</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">6,935</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(3,161</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsPropertyPlantAndEquipment_iI_zO39TJqYN493" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Fixed assets</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">8,794</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">23,992</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(15,198</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--DeferredTaxAssetsTransactionCosts_iI_zPZmd13LgST4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Transaction costs</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">924,764</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">942,062</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(17,298</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetsChangeInValueOfForwardPurchaseContract_iI_zozHmhPdR8G4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Forward purchase contract</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">8,155,953</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(8,155,953</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">) </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_zqEGLqy1l8eg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Goodwill</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">26,180,613</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">28,404,108</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(2,223,495</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_zgKmLJafASbj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">NOL carry forward</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">16,551,647</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5,030,672</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">11,520,975</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_iI_zjNtwmdfHT72" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left">Accrued expenses</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">3,917</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">3,917</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ContractWithCustomerAssetNet_i02I_zbNoifk6OiBa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Contract assets</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">789,914</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">789,914</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--OperatingLeaseRightToUseAssets_iI_zxTzJ1GURluc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">Right of use assets</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">173,934</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">214,124</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(40,190</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsGross_iTI_ziheaWYpYXO1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">Total deferred tax assets</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">46,751,583</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">44,523,027</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,228,556</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: italic 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax liabilities:</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">   </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">   </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">   </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--DeferredTaxAssetLeaseLiabilities_iNI_di_zEU93W1Yf3t9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Lease liabilities</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(133,944</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(172,195</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">38,251</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--FinancialIndemnificationLiabilities_i01NI_di_zdMxCi8TSsve" style="vertical-align: bottom; background-color: White"> <td style="width: 49%; text-align: left">Financial indemnification liability</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">(267,266</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: 14%; 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: 14%; text-align: right">(267,266</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_406_ecustom--StandreadyGuaranteeLiabilityNet_i01NI_di_z5DxjFf9BUFh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Stand ready liability</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">(522,648</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">(522,648</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_di_zAYistVaYA19" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 49%">Total deferred tax liabilities</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 14%">(923,858</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%">)</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 14%">(172,195</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%">)</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 14%">(751,663</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%">)</td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_zwaGLI4pRu79" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">Net deferred tax assets</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">45,827,725</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">44,350,832</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,476,893</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_zzm3bhhKfQVd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">Valuation allowance</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(45,827,725</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(44,350,832</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(1,476,893</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsNet_iTI_zeOtizo7gHyk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">Deferred tax asset</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">  - </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">  -</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> </table>

70627

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133944 172195 -38251 267266 267266 522648 522648

923858

172195

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45827725

44350832

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67700000

20400000

21400000

Pursuant to Section 382 of the Internal Revenue Code of 1986, as amended, a corporation that undergoes an “ownership change,” generally defined as a cumulative increase of more than 50 percentage points in the stock ownership of 5% shareholders within a rolling three-year period may have its ability to utilize pre-change net operating loss (“NOL”) carryforwards and certain other tax attributes significantly limited on an annual basis.

Note 19 - Stockholders’ Equity (Deficit) Preferred Stock The Company is authorized to issue up to 1,250,000 shares of preferred stock, par value $0.0001 per share. The Board of Directors has the authority to establish the specific rights, preferences, and designations of any series of preferred stock. As of December 31, 2025 and December 31, 2024, there were <span id="xdx_903_eus-gaap--PreferredStockSharesIssued_iI_pid_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--ConvertiblePreferredStockMember_zxOQZMhz23ag" title="Convertible preferred stock, shares issued"><span id="xdx_90C_eus-gaap--PreferredStockSharesOutstanding_iI_pid_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--ConvertiblePreferredStockMember_zKWsz35RvOK6" title="Convertible preferred stock, shares outstanding"><span id="xdx_902_eus-gaap--PreferredStockSharesIssued_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--ConvertiblePreferredStockMember_zJpeqwNR84W3" title="Convertible preferred stock, shares issued"><span id="xdx_902_eus-gaap--PreferredStockSharesOutstanding_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--ConvertiblePreferredStockMember_zTc8gqYFjJ98" title="Convertible preferred stock, shares outstanding">111 shares of convertible preferred stock issued and outstanding. Holders of preferred stock are entitled to receive dividends only if and when dividends are paid on the Company’s Common Stock. In that event, preferred stockholders receive dividends on an as-converted-to-Common-Stock basis, in the same form as dividends paid to the Common Stockholders. No additional or separate dividends are payable on the preferred stock. The preferred stock is convertible into shares of Common Stock. The initial conversion price was $200 per share. The conversion price is subject to downward adjustment at five specified intervals 10, 55, 100, 145, and 190 days after the effectiveness of a registration statement covering the shares issuable upon conversion. At each adjustment date, the conversion price resets to the lower of (i) the then-current conversion price and (ii) the greater of 80% of the five-day volume weighted average price of the Common Stock and $50 (the “Floor Price”). Regardless of any price resets, each preferred stockholder retains the right to receive the total number of shares of Common Stock that would have been issuable at the adjusted conversion price based on their original investment amount. On January 25, 2023, stockholders approved a further reduction in the Floor Price from $40.00 per share to $25.00 per share at a special meeting. Series B Convertible Preferred Stock On September 30, 2025, the Company entered into a Series B SPA with certain institutional and accredited investors (the “Buyers”). Under the Series B SPA, the Company issued <span id="xdx_90A_eus-gaap--PreferredStockSharesIssued_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zBgFzC7Ya8td">31,052 shares of Series B Convertible Preferred Stock (out of <span id="xdx_906_eus-gaap--PreferredStockSharesAuthorized_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_z68JvjzsqrOa">35,000 authorized shares) and accompanying Series B Warrants to purchase <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_z30zPaWOPBxg">1,999,544 shares of Common Stock. The purchase price was $<span id="xdx_902_eus-gaap--SharePrice_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_z94yKuXF09Zh" title="Purchase price">800 per $<span id="xdx_907_ecustom--PreferredStockStatedValue_c20250930__20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zsYk8VIQ6Hba" title="Stated value per unit">1,000 stated value per unit, representing the arm’s-length transaction price established by independent ELOC investors. The aggregate consideration received was $24.3 million, consisting of $6.1 million from the Company’s Series B Convertible Preferred Stock and warrant financing (approximately $5.9 million from third-party accredited investors and $<span id="xdx_90F_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20251106__20251106__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ManagementAndBoardMember_z3fOOgjk1Uee" title="Consideration received">0.2 million from management and board participation, with stockholder approval obtained on November 6, 2025), approximately $<span id="xdx_90F_eus-gaap--ProceedsFromConvertibleDebt_pn5n6_c20250101__20250930__us-gaap--DebtInstrumentAxis__custom--UnsecuredConvertiblePromissoryNotesMember_ze3RpeNQeVeb" title="Proceeds from convertible debt">0.6 million in cash proceeds from unsecured Notes issued in August and September 2025 that were subsequently exchanged for Series B Convertible Preferred Stock and warrants at closing, along with $10.7 million from the cancellation of debt and $7.3 million from the termination of the FPA. Offering costs of $0.4 million were charged to additional paid-in capital. The Series B Convertible Preferred Stock, including its reset and anti-dilution provisions, was evaluated and determined to meet the criteria for classification within permanent stockholders’ equity, as the reset features are indexed to the Company’s own stock and the instrument does not embody an unconditional obligation to transfer assets. Both the Series B Convertible Preferred Stock and the accompanying Series B Warrants were measured at fair value at issuance at $800 per unit, consistent with the price paid by unaffiliated third-party investors for identical instruments on the same date in accordance with ASC 820. No subsequent remeasurement is performed. The Series B Convertible Preferred Stock has a stated value of $<span id="xdx_906_ecustom--PreferredStockStatedValue_pid_c20250930__20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zbJ0ysT3R49a" title="Preferred stock, stated value">1,000 per share and ranks senior to all classes of Common Stock with respect to dividends and distributions upon liquidation. Dividends accrue only when declared by the Board of Directors, calculated on an as-converted basis. Each share is convertible at the holder’s option into Common Stock at an initial conversion price of $<span id="xdx_90A_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20250930__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember_zY39ZbSfsKg" title="Conversion price">7.7644 per share, subject to proportional adjustment for stock splits, stock dividends, combinations, and similar events. The Series B Convertible Preferred Stock includes automatic price reset and anti-dilution provisions that are substantially similar to those in the Series B Warrants. The conversion price resets automatically at 60, 90, and 180 days after the applicable date to the lower of the then-current market price or the prior conversion price, subject to a floor of $1.5528 per share as defined in the Certificate of Designation. Additional downward adjustments apply if the Company subsequently issues equity at a price below the then-current conversion price. Holders are subject to a 4.99% beneficial ownership cap, which may be increased to 9.99% upon 61 days’ written notice. With the consent of the Required Holders (as defined in the Series B instruments), the Board may also voluntarily reduce the conversion price for any period permitted under Nasdaq rules. Because the Series B Convertible Preferred Stock and Series B Warrants were issued together as a unit, the $<span id="xdx_902_eus-gaap--SharesIssuedPricePerShare_iI_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockAndSeriesBWarrantsMember_zSwLWft7siE7" title="Shares issued, price per share">800 per unit of proceeds was allocated between the two instruments on a relative fair value basis in accordance with ASC 470-20-30-5. To perform this allocation, the Company used a Monte Carlo simulation model to estimate the standalone fair value of each instrument, arriving at approximately $589 per share of Series B Convertible Preferred Stock and $211 per Series B Warrant. These standalone fair values were used solely to calculate each instrument’s proportionate share of the $<span id="xdx_902_eus-gaap--SharesIssuedPricePerShare_iI_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockAndSeriesBWarrantsMember_zs4JBNyGEyVk" title="Shares issued, price per share">800 unit proceeds; they do not represent the transaction price of either instrument individually. Both instruments were determined to qualify for equity classification under ASC 815-40 and ASC 480 and will not be remeasured in subsequent periods. At a special meeting of stockholders held on November 6, 2025, the Company’s stockholders approved four actions relevant to the Company’s capital structure. First, stockholders approved the issuance of Common Stock upon conversion of the Series B Convertible Preferred Stock and exercise of the Series B Warrants, including participation by members of management and the Board of Directors. Because those issuances constituted compensation under Nasdaq Listing Rule 5635(c), they were conditioned upon and subject to this stockholder approval. No preferential pricing or special terms were extended to management or director participants beyond those available to all other Buyers. Second, stockholders approved the issuance of shares of Common Stock to the counterparty under the Company’s ELOC agreement (see Common Stock section below). Third, stockholders approved an increase in the number of authorized shares of Common Stock from 130,000,000 to 1,000,000,000 shares. This increase was necessary to ensure the Company maintains a sufficient reserve of authorized but unissued shares to satisfy its obligations upon conversion of the Series B Convertible Preferred Stock, exercise of the Series B Warrants, and future draws under the ELOC, and to maintain the flexibility to issue Common Stock or securities convertible into common stock for general corporate purposes if an attractive opportunity to do so arises. Fourth, stockholders authorized the Board of Directors, in its sole discretion, to affect a reverse stock split of the Company’s outstanding Common Stock at any ratio between 2-for-1 and 12-for-1, if and when the Board determines such action to be in the best interests of the Company and its stockholders. As of December 31, 2025, no reverse stock split had been effected pursuant to this authorization. The Company filed registration statements on Form S-1 on October 17 and October 21, 2025 to register the resale of shares issuable upon conversion of the Series B Convertible Preferred Stock and exercise of the Series B Warrants, as well as shares issuable under its ELOC. The registration statement covering the ELOC became effective on November 7, 2025, and the registration statement covering the Series B Convertible Preferred Stock and Series B Warrants became effective on November 12, 2025. In January 2026, the first automatic price reset under the Series B Convertible Preferred Stock and Series B Warrants occurred, 60 days after the applicable date as provided in the Certificate of Designation and warrant agreements. Because the Company’s Common Stock was trading below the floor price at the time of the reset, the conversion price of the Series B Convertible Preferred Stock and the exercise price of the Series B Warrants each reset to the floor price of $<span id="xdx_901_eus-gaap--SharePrice_iI_pid_c20260131__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zj8G7GDY3q32" title="Floor price">1.5528 per share. No further automatic resets remain under the 60, 90, and 180-day reset schedule. The reset to the floor price significantly increases the number of shares of Common Stock potentially issuable upon conversion and exercise of these instruments. The Company is required to register the additional shares resulting from the reset and has initiated the necessary steps to do so. Failure to timely complete that registration would constitute a breach of the Company’s obligations to the Series B holders. Common Stock As of December 31, 2025, the Company is authorized to issue up to 1,000,000,000 shares of Common Stock, par value $0.0001 per share. Holders of Common Stock are entitled to one vote for each share held. As of December 31, 2025 and December 31, 2024, there were 4,281,523 and 2,783,666 shares of Common Stock issued and outstanding, respectively. Equity Line of Credit and Related Series B Redemption Obligation On September 17, 2025, the Company entered into the ELOC with an institutional investor (the “ELOC Investor”), pursuant to which the Company, at its sole discretion, may issue and sell up to $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20250917__20250917__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_zyZ7QpTkRbK2" title="Share issued value">150.0 million of newly issued shares of Common Stock from time to time. The facility is subject to customary conditions and limitations, including a 4.99% beneficial ownership cap and a 19.99% exchange cap applicable to the ELOC Investor. The facility expires on September 17, 2028. The Company filed a registration statement on Form S-1 to register the resale of shares issuable under the facility. That registration statement became effective on November 7, 2025, at which point the Company became eligible to draw on the facility. On November 6, 2025, stockholders approved the issuance of shares of Common Stock under the ELOC in excess of 19.99% of the Company’s shares outstanding as of the date of the agreement, as required under Nasdaq Listing Rule 5635. Each sale of Common Stock under the ELOC will be priced at a 10% discount to the lowest intraday stock price on the draw date. This discount represents a cost to the Company and will be recognized as an expense in the period in which the shares are sold. The ELOC provides that, with the mutual consent of the Company and the ELOC Investor, the total facility commitment may be expanded up to $<span id="xdx_908_ecustom--CommitmentFeeAmount_pn6n6_c20250917__20250917__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zZgANE5ZHosi" title="Commitment amount">500.0 million. Any such increase would require the Company to issue additional commitment shares equal to 0.75% (75 basis points) per $100 million of incremental commitment, payable in shares of Common Stock valued at the average closing price for the five trading days preceding the date of issuance. As consideration for the ELOC Investor’s purchase commitment, the Company issued to the ELOC Investor <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250930__20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockAndSeriesBWarrantsMember__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_zRK65nxzihzl">1,000 shares of Series B Convertible Preferred Stock and a Series B Warrant to purchase <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250901__20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_zLHIcA5kKSvb">64,369 shares of Common Stock on September 30, 2025, valued at $<span id="xdx_90A_eus-gaap--SharePrice_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_zFi4a55FyNHh">800 per unit, or $0.8 million in aggregate. This commitment fee was recorded within Other Expense and expensed in full upon issuance. In addition, the Company incurred $0.2 million in other ELOC-related issuance costs, which were also expensed as incurred. Accordingly, the Company’s initial commitment-fee obligation under the ELOC has been satisfied in full. On September 30, 2025, the Company and the ELOC Investor executed Amendment No. 1 to the ELOC Agreement, which requires the Company to apply 25% of the net cash proceeds received from each draw under the facility toward the redemption of outstanding shares of Series B Convertible Preferred Stock. Pursuant to the Certificate of Designation governing the Series B Convertible Preferred Stock, such redemptions are permitted only at 120% of the $<span id="xdx_90D_ecustom--PreferredStockStatedValue_pid_c20250930__20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_zKMCkg8SxX6h" title="Stated value">1,000 stated value per share, plus any accrued but unpaid dividends, resulting in a cash redemption price of $1,200 per share. As a result, for each dollar of shares sold under the ELOC at market, the Company retains approximately $0.675 in net cash after the 10% pricing discount and the 25% Series B redemption obligation. Redemptions of Series B Convertible Preferred Stock does not create treasury stock, rather these redeemed shares are considered retired and cancelled per our Certificate of Designation. This mandatory use-of-proceeds provision represents a contractual earmark of future equity proceeds but does not create a separate liability at issuance, because no redemption obligation arises until the Company actually receives proceeds by electing to draw under the facility. Consistent with ASC 480-10-25-4 through 25-14, the Series B Convertible Preferred Stock continues to be classified in permanent equity, as any redemption remains conditional on the Company’s discretionary decision to utilize the ELOC and does not constitute an unconditional obligation to transfer assets. Under the ELOC, Material Adverse Effect includes any material adverse change in the enforceability of the agreement, our results of operations, assets, business, or financial condition taken as a whole, or our ability to perform our material obligations in a timely manner. Company specific deterioration including a significant decline in revenues or cash flows, loss of key customers or contracts, material litigation or regulatory action, failure to maintain required licenses or permits, a material weakness in internal controls, or loss of key management personnel is not excluded from this definition and could independently trigger the Investor’s termination rights. The Company’s representations and warranties regarding the absence of a Material Adverse Effect must remain true and correct not only at the initial closing of the facility, but also at the time of each subsequent VWAP Purchase Notice throughout the term of the agreement. As a result, even after the facility has commenced and initial drawings have been made, any supervening adverse development could prevent us from accessing the remaining unfunded commitment. If a Material Adverse Effect occurs and is continuing, the Investor has the right to terminate the Purchase Agreement upon ten (10) Trading Days’ written notice. In that event, we would lose access to any remaining unfunded portion of the $150 million commitment. While the ELOC excludes certain broad macroeconomic, industry-wide, and geopolitical events from the definition of Material Adverse Effect, no such exclusion applies to adverse developments that are specific to our business or operations. There can be no assurance that a Material Adverse Effect will not occur during the term of the Purchase Agreement. Should one occur, and should we be unable to secure alternative financing on acceptable terms, or at all, our liquidity position, business operations, financial condition, and results of operations could be materially and adversely affected. During the year ended December 31, 2025, the Company issued <span id="xdx_902_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_z4NSJx2m3oV5" title="Number of shares issued">1,326,603 shares of Common Stock under the ELOC, generating net proceeds of $<span id="xdx_905_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_pn5n6_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_zAmtiWmNj7l7" title="Net proceeds">1.8 million, equivalent to an average price of $<span id="xdx_909_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_z9uB358L4WSh" title="Average price per share">1.341 per share. In connection with these draws, the Company sold shares of Common Stock at a contractual 10% discount to the lowest intraday stock price on each draw date. This pricing discount represents a direct cost of accessing the ELOC facility and resulted in a non-cash charge of approximately $0.08 million, which was recognized in the statement of operations for the year ended December 31, 2025. The recorded expense reflects the difference between the fair market value of the shares issued on the settlement date and the proceeds received pursuant to the ELOC Agreement. 2022 Equity Incentive Plan The Amended and Restated - 2022 Equity Incentive Plan (the “Plan”) was approved by the Company’s stockholders on June 28, 2022. On April 30, 2025, the Plan was amended to provide that the total number of shares of Common Stock that may be issued, under the Plan will automatically increase upon the occurrence of a Dilution Event (as defined in the Plan) and on the first trading day of each calendar year, beginning with calendar year 2026, by such number of shares of Common Stock necessary to make the total shares of Common Stock authorized under the Plan equal to fifteen percent (15%) of the total outstanding shares of Common Stock on the last day of the prior calendar year (subject to a maximum annual increase of 50,000 shares of Common Stock). The Plan permits the grant of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock units, stock bonus awards, and performance compensation awards. The Company has not issued stock appreciation rights, restricted stock, stock bonus awards, or performance compensation awards in the year ended December 31, 2025 and December 31, 2024. As of December 31, 2025, a total of 626,749 shares of Common Stock were authorized for issuance under the Plan, of which 78,799 shares remained available for future issuances. Stock Options Stock options are awarded to encourage ownership of the Company’s Common Stock by employees and to provide incentives for employees to render services and to exert maximum effort for the success of the Company. The Company’s incentive stock options generally permit net-share settlement upon exercise. The option exercise price, vesting schedule and exercise period are determined for each grant by the administrator (person appointed by board to administer the stock plans) of the applicable plan. The Company’s stock options generally have a <span id="xdx_903_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zwa7R2A27PK6" title="Contractual term">10-year contractual term. <p id="xdx_894_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_z6nbmXHXzSXe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The assumptions used to determine the fair value of options granted in the year ended December 31, 2025 using the Black-Scholes-Merton option model are as follows: Schedule of Fair Value of Options Granted Black-Scholes-Merton Model <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%">Dividend yield</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Risk-free interest rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20250101__20251231_z4NdwrfADhF1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Risk-free interest rate, minimum">3.5% to <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20250101__20251231_zMGwtFWmuOr1" title="Risk-free interest rate, maximum">4.4</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expected volatility</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20250101__20251231_zU34Jr8G9uC9" title="Expected volatility - minimum">93.4% to <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20250101__20251231_zSDGuHXqafq" title="Expected volatility - maximum">115.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expected term in years</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20251231__srt--RangeAxis__srt--MinimumMember_zjhMxjrlc3g" title="Expected term in years">5 to <span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20251231__srt--RangeAxis__srt--MaximumMember_zy5Oyj6MfjD3" title="Expected term in years">6.5 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> The assumptions used to determine the fair value of options granted in the year ended December 31, 2024 using the Black-Scholes-Merton model are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">Dividend yield</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">0</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Risk-free interest rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20240101__20241231_z2LtoVMKkITe" title="Risk-free interest rate, minimum">3.6% to <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20240101__20241231_z7oQViN5xvA8" title="Risk-free interest rate, maximum">4.2</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expected volatility</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expected term in years</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_zG3RUlvD8M1k" title="Expected term in years">6 to <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_zsOnmpcvJbY9" title="Expected term in years">6.5 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> A summary of the Company’s stock option activities and related information for the year ended December 31, 2025 is as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Stock Option</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">No. of Stock Option</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Weighted-Average Grant Date Exercise Price</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Weighted-Average Remaining Contractual Life (In Years)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 46%; text-align: justify">Balance, January 1, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250101__20251231_zxSDzR2BAU2f" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="No. of Stock Option, Beginning Balance">105,090</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20251231_znCRgyKamBIb" title="Weighted-Average Grant Date Exercise Price, Beginning Balance">98.55</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_z6pBAfAfRSw3" title="Weighted-Average Remaining Contractual Life, Ending">0.65</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20251231_z6mN1n8qSd3h" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Granted">540,827</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231_zLGjNn0Uir7c" title="Weighted-Average Grant Date Exercise Price, Granted">3.89</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zN2pTxHqRT5h" title="Weighted-Average Remaining Contractual Life, Granted">9.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Forfeited</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250101__20251231_ztX1boGWOe4g" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Forfeited">(107,299</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Cancelled / Forfeited</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledAndForfeitedInPeriod_iN_di_c20250101__20251231_zZ8v9Qkh5xGf" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Cancelled / Forfeited">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsCancelledAndForfeitedInPeriodWeightedAverageExercisePrice_iN_pid_di_c20250101__20251231_zxSsm9FhIR88" title="Weighted-Average Grant Date Exercise Price, Cancelled/Forfeited">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Balance, December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20251231_zQE8rmndYnVa" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Ending Balance">538,618</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20251231_zeVNOYOGwhUf" title="Weighted-Average Grant Date Exercise Price, Ending Balance">11.25</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zr6cZsQW91hf" title="Weighted-Average Remaining Contractual Life, Ending">9.3</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Vested and expected to vest December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iE_pid_c20250101__20251231_zStmwLxQIfL7" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Vested and expected">538,618</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iE_pid_c20250101__20251231_zV8ZZLZOybxg" title="Weighted-Average Grant Date Exercise Price, Vested and expected Ending Balance">11.25</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231_zENjAQStiivg" title="Weighted-Average Remaining Contractual Life, Vested and expected Ending">9.3</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Stock Option</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">No. of Stock Option</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Weighted-Average Grant Date Exercise Price </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Weighted- Average Remaining Contractual Life (In Years)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 46%; text-align: justify">January 1, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20240101__20241231_zUM8iWBGu5p3" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="No. of Stock Option, Beginning Balance">114,301</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231_zyMKmYQoUPT8" title="Weighted-Average Grant Date Exercise Price, Beginning Balance">108.62</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zaVkGfB4tQH9" title="Weighted-Average Remaining Contractual Life, Ending">1.65</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240101__20241231_zZTYeZlEyYq" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Granted">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Forfeited</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20240101__20241231_ze3w93gsBWmb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Forfeited">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Cancelled / Forfeited</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledAndForfeitedInPeriod_iN_di_c20240101__20241231_z5PXZFxVslXg" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Cancelled / Forfeited">(9,211</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsCancelledAndForfeitedInPeriodWeightedAverageExercisePrice_iN_pid_di_c20240101__20241231_z3Ifl4fwV7R5" title="Weighted-Average Grant Date Exercise Price, Cancelled/Forfeited">(76.60</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20240101__20241231_zgCEZVmGBmnl" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Ending Balance">105,090</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20240101__20241231_zcdAZNvzJ9E" title="Weighted-Average Grant Date Exercise Price, Ending Balance">98.55</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_z9Y5H9eQBdrl" title="Weighted-Average Remaining Contractual Life, Ending">0.65</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The options forfeited during the period were associated with awards previously granted to former officers and employees whose service with the Company terminated prior to vesting or exercise. On August 7, 2025, the Company granted <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250807__20250807__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionMember_zk6fOyHLcm29" title="Share based compensation, granted">183,501 performance-based stock option awards to certain executive officers, including the Chief Executive Officer, Chief Investment and Strategic Officer, and Principal Accounting Officer. These options were issued under the 2022 Stock Option and Incentive Plan and are performance-based awards that vest only upon the Company’s successful completion of an equity transaction resulting in proceeds in excess of $4 million. The performance condition is non-market based as defined in ASC 718-10-20. The performance condition was satisfied on September 30, 2025 upon the closing of the Company’s Series B Convertible Preferred Stock financing, gross cash proceeds of $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_pn5n6_c20250930__20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember_zvrKJGC6I0Ij" title="Proceeds from Series B Convertible Preferred Stock">6.7 million, exceeding the $<span id="xdx_906_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingThreshold_pn5n6_c20250930__20250930__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember_zhtK06qxwmke" title="Share based compensation threshold vesting">4.0 million threshold required for vesting. Accordingly, the Company recognized $<span id="xdx_907_eus-gaap--ShareBasedCompensation_pn5n6_c20250101__20251231__us-gaap--StatementClassOfStockAxis__custom--SeriesBConvertiblePreferredStockMember_zMLtKxnNZ3rh" title="Stock-based compensation expense">0.3 million of stock-based compensation expense during the year ended December 31, 2025 in connection with these awards. <p id="xdx_897_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_zIe9SgNGtANe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following options were outstanding as of December 31, 2025, at their respective exercise price: Schedule of Options Outstanding <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Exercise Price Options Outstanding</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">$1.27</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zkNiySZeCsEc" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Exercise price options">25,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$2.22</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zpdIu6nWe5hj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">23,781</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$2.40</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_zEksq0x3zTlf" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">364,893</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$6.40</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceFourMember_zGLa2JH76tw8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">7,326</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$7.80</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceFiveMember_zXFbcGqq6on3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">5,731</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$8.00</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceSixMember_zEhFJJGdGUDa" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">32,700</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$9.68</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceSevenMember_zFvjegF5Vqnh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">34,884</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$31.20</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceEightMember_zefhW3rS5KF5" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">9,978</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$62.54</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceNineMember_zJIENIAQwoyh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">6,825</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">$133.40</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTenMember_z3zd9UAhze9d" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">27,500</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231_zSSjZaKkx5Y8" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">538,618</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Stock compensation expense recognized for stock options for the year ended December 31, 2025 and December 31, 2024 was $1.5 million and $1.6 million. <p id="xdx_895_eus-gaap--DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock_zCfIcvKBl0Gh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Stock compensation expenses is comprised of the following: Schedule of Stock Compensation Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49A_20250101__20251231_zGFR0Ds0fGBk" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_zDaInVs5d9Oa" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Year Ended December 31</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_406_eus-gaap--CompensationExpenseExcludingCostOfGoodAndServiceSold_maSBCz4zY_ziQpV2gO2Js8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 56%">Compensation and employee benefits</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right">796,565</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right">1,575,952</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td></tr> <tr id="xdx_408_eus-gaap--ProfessionalAndContractServicesExpense_maSBCz4zY_zinsT031djka" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Professional services</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">688,993</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_406_eus-gaap--AllocatedShareBasedCompensationExpense_iT_mtSBCz4zY_ziAfrkdHO8rd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif">$</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,485,558</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif">$</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,575,952</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> </table> As of December 31, 2025, there was $<span id="xdx_906_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_pn5n6_c20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zYzcwy5KvYJa" title="Unrecognized share based compensation expense">0.3 unrecognized stock compensation expense related to stock options. The unrecognized compensation expense is expected to be recognized over a weighted-average period of approximately <span id="xdx_908_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zGZbMr3BvRV9" title="Cost not yet recognized period">1.6 years based on vesting under the award service conditions. The weighted-average fair value of the stock options granted for the year ended December 31, 2025 was $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20250101__20251231_zMa3gIEwxndb" title="weighted-average stock option granted price per share">3.00 per share. There were no stock options granted for the year ended December 31, 2024. Restricted Stock Units (“RSUs”) <p id="xdx_897_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zBLF5tLlWi69" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">A summary of the Company’s RSU activities and related information for the year ended December 31, 2025 and December 31, 2024 is as follows: Schedule of Restricted Stock Units <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Restricted Stock Units</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">No. of RSU</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Weighted- Average Grant Date Fair Value Per RSU</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Weighted- Average Remaining Contractual Life (in Years)</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 40%">January 1, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z7PT41wnGJg5" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="No. of RSU, Beginning Balance">8,583</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zohVW90RW5v9" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Beginning Balance">26.20</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5wEPQlaVBJ1" title="Weighted-Average Remaining Contractual Life">1.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzmFRC4uaH22" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Granted">- </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmcRIvo5dKYj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Granted">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Vested</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxGQmUfPD9m3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Vested">(5,740</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zIJoCyWhon7j" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Vested">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Expired</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriod_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zW75pewJDGO7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Expired">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriodWeightedAverageGrantDateFairValue_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zGtMa6SBIc9j" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Expired">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Cancelled / Forfeited</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzd5wR2Slli6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Forfeited">(2,843</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zDoLsV9NRQD7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Cancelled / Forfeited">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zvmnWyT0Z3Fl" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Ending Balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zjAXgj6cPMul" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Ending Balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Restricted Stock Units</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">No. of RSU</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Weighted- Average Grant Date Fair Value Per RSU</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Weighted- Average Remaining Contractual Life (in Years)</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 40%">January 1, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxG81gxKrYg4" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="No. of RSU, Beginning Balance">16,175</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5XaMVn239H6" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Beginning Balance">26.20</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zS6mGbQyQEf4" title="Weighted-Average Remaining Contractual Life">2.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zB3trRyrsX41" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Granted">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zPcrBKBjlIt1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Granted">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Vested</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zVoH1gNT55ag" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Vested">(5,392</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zcAnwqzYuww1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Vested">26.20</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Expired</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriod_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zGPGGLt5dyZ7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Expired">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriodWeightedAverageGrantDateFairValue_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zl0YFeZujiQl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Expired">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">Cancelled / Forfeited</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z7vFu2p9Dc97" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Forfeited">(2,200</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zNHeo9svLsS2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Cancelled / Forfeited">26.20</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmYbXBh7pSL8" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Ending Balance">8,583</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zpvz8LH9pI68" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Ending Balance">26.20</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQPA2cs2XVqe" title="Weighted-Average Remaining Contractual Life">1.00</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Stock compensation expense for RSU for the year ended December 31, 2025 and December 31, 2024 $0.04 million and $0.06 million, respectively. All RSU awards recognized during the year ended December 31, 2025, and 2024 relate to employee stock awards. For the year ended December 31, 2025 and December 31, 2024, the Company completed a net share settlement for <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zdoe7dqzvP1" title="Net share settlement">4,292 and <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZAPD1FVEP5k" title="Net share settlement">5,392, restricted shares on behalf of certain employees that participate in the Plan upon the vesting of the restricted shares pursuant to the terms of the Plan, respectively. The net share settlement was in connection with payroll taxes incurred on restricted shares that vested and were transferred to the employees during the year ended December 31, 2025 and December 31, 2024 which created taxable income for the employees. At the employees’ request, the Company has paid these taxes on behalf of the employees in exchange for the employees returning an equivalent value of restricted shares to the Company. These transactions resulted in a decrease of $<span id="xdx_907_eus-gaap--StockholdersEquityPeriodIncreaseDecrease_pn4n6_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z88oN47AdIxg" title="Decrease in share holder's equity">0.00 million and $<span id="xdx_90D_eus-gaap--StockholdersEquityPeriodIncreaseDecrease_pn5n6_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zcAjEdUVMQJ1" title="Decrease in share holder's equity">0.1 million for the year ended December 31, 2025 and December 31, 2024, to stockholders’ deficit on the consolidated balance sheets as the cash payment of the taxes effectively were a repurchase of the restricted shares granted in previous years. As of December 31, 2025, there was $<span id="xdx_901_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_iI_pn5n6_c20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z9YrHrB9OpTe">0.0 million of unrecognized stock compensation expense related to RSU awards.

1250000

0.0001

111

200

(i) the then-current conversion price and (ii) the greater of 80% of the five-day volume weighted average price of the Common Stock and $50 (the “Floor Price”). Regardless of any price resets, each preferred stockholder retains the right to receive the total number of shares of Common Stock that would have been issuable at the adjusted conversion price based on their original investment amount.

40.00

25.00

31052

35000

1999544

800

1000

24300000

6100000

5900000

200000

600000

10700000

7300000

400000

800

1000

7.7644

1.5528

0.0499 0.0999

800

589

211

800

130000000

1000000000

2-for-1 and 12-for-1

1.5528

1000000000

0.0001

4281523

2783666

150000000.0

0.0499

0.1999

500000000.0 the Company to issue additional commitment shares equal to 0.75% (75 basis points) per $100 million of incremental commitment, payable in shares of Common Stock valued at the average closing price for the five trading days preceding the date of issuance.

1000

64369

800

800000

200000

1000

1200

0.675

0.10 150000000

1326603

1800000

80000.00

50000

626749

78799

P10Y

<p id="xdx_894_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_z6nbmXHXzSXe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The assumptions used to determine the fair value of options granted in the year ended December 31, 2025 using the Black-Scholes-Merton option model are as follows: Schedule of Fair Value of Options Granted Black-Scholes-Merton Model <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%">Dividend yield</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Risk-free interest rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20250101__20251231_z4NdwrfADhF1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Risk-free interest rate, minimum">3.5% to <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20250101__20251231_zMGwtFWmuOr1" title="Risk-free interest rate, maximum">4.4</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expected volatility</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20250101__20251231_zU34Jr8G9uC9" title="Expected volatility - minimum">93.4% to <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20250101__20251231_zSDGuHXqafq" title="Expected volatility - maximum">115.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expected term in years</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20251231__srt--RangeAxis__srt--MinimumMember_zjhMxjrlc3g" title="Expected term in years">5 to <span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20251231__srt--RangeAxis__srt--MaximumMember_zy5Oyj6MfjD3" title="Expected term in years">6.5 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> The assumptions used to determine the fair value of options granted in the year ended December 31, 2024 using the Black-Scholes-Merton model are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">Dividend yield</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">0</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Risk-free interest rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20240101__20241231_z2LtoVMKkITe" title="Risk-free interest rate, minimum">3.6% to <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20240101__20241231_z7oQViN5xvA8" title="Risk-free interest rate, maximum">4.2</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expected volatility</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">100</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Expected term in years</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_zG3RUlvD8M1k" title="Expected term in years">6 to <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_zsOnmpcvJbY9" title="Expected term in years">6.5 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

0.035

0.044

0.934

1.155

P5Y

P6Y6M

0.036

0.042

P6Y

P6Y6M

A summary of the Company’s stock option activities and related information for the year ended December 31, 2025 is as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Stock Option</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">No. of Stock Option</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Weighted-Average Grant Date Exercise Price</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Weighted-Average Remaining Contractual Life (In Years)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 46%; text-align: justify">Balance, January 1, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250101__20251231_zxSDzR2BAU2f" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="No. of Stock Option, Beginning Balance">105,090</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20251231_znCRgyKamBIb" title="Weighted-Average Grant Date Exercise Price, Beginning Balance">98.55</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_z6pBAfAfRSw3" title="Weighted-Average Remaining Contractual Life, Ending">0.65</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20251231_z6mN1n8qSd3h" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Granted">540,827</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231_zLGjNn0Uir7c" title="Weighted-Average Grant Date Exercise Price, Granted">3.89</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zN2pTxHqRT5h" title="Weighted-Average Remaining Contractual Life, Granted">9.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Forfeited</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250101__20251231_ztX1boGWOe4g" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Forfeited">(107,299</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Cancelled / Forfeited</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledAndForfeitedInPeriod_iN_di_c20250101__20251231_zZ8v9Qkh5xGf" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Cancelled / Forfeited">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsCancelledAndForfeitedInPeriodWeightedAverageExercisePrice_iN_pid_di_c20250101__20251231_zxSsm9FhIR88" title="Weighted-Average Grant Date Exercise Price, Cancelled/Forfeited">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Balance, December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20251231_zQE8rmndYnVa" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Ending Balance">538,618</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20251231_zeVNOYOGwhUf" title="Weighted-Average Grant Date Exercise Price, Ending Balance">11.25</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zr6cZsQW91hf" title="Weighted-Average Remaining Contractual Life, Ending">9.3</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Vested and expected to vest December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iE_pid_c20250101__20251231_zStmwLxQIfL7" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Vested and expected">538,618</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iE_pid_c20250101__20251231_zV8ZZLZOybxg" title="Weighted-Average Grant Date Exercise Price, Vested and expected Ending Balance">11.25</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231_zENjAQStiivg" title="Weighted-Average Remaining Contractual Life, Vested and expected Ending">9.3</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Stock Option</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">No. of Stock Option</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> Weighted-Average Grant Date Exercise Price </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Weighted- Average Remaining Contractual Life (In Years)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 46%; text-align: justify">January 1, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20240101__20241231_zUM8iWBGu5p3" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="No. of Stock Option, Beginning Balance">114,301</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231_zyMKmYQoUPT8" title="Weighted-Average Grant Date Exercise Price, Beginning Balance">108.62</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zaVkGfB4tQH9" title="Weighted-Average Remaining Contractual Life, Ending">1.65</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240101__20241231_zZTYeZlEyYq" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Granted">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Forfeited</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20240101__20241231_ze3w93gsBWmb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Forfeited">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Cancelled / Forfeited</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledAndForfeitedInPeriod_iN_di_c20240101__20241231_z5PXZFxVslXg" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Cancelled / Forfeited">(9,211</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsCancelledAndForfeitedInPeriodWeightedAverageExercisePrice_iN_pid_di_c20240101__20241231_z3Ifl4fwV7R5" title="Weighted-Average Grant Date Exercise Price, Cancelled/Forfeited">(76.60</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20240101__20241231_zgCEZVmGBmnl" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of Stock Option, Ending Balance">105,090</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20240101__20241231_zcdAZNvzJ9E" title="Weighted-Average Grant Date Exercise Price, Ending Balance">98.55</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_z9Y5H9eQBdrl" title="Weighted-Average Remaining Contractual Life, Ending">0.65</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

105090

98.55

P0Y7M24D

540827

3.89

P9Y6M

107299

538618

11.25

P9Y3M18D

538618

11.25

P9Y3M18D

114301

108.62

P1Y7M24D

9211 76.60

105090

98.55

P0Y7M24D

183501

4000000

6700000

4000000.0

300000

<p id="xdx_897_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_zIe9SgNGtANe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following options were outstanding as of December 31, 2025, at their respective exercise price: Schedule of Options Outstanding <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Exercise Price Options Outstanding</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">$1.27</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zkNiySZeCsEc" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Exercise price options">25,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$2.22</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTwoMember_zpdIu6nWe5hj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">23,781</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$2.40</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceThreeMember_zEksq0x3zTlf" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">364,893</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$6.40</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceFourMember_zGLa2JH76tw8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">7,326</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$7.80</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceFiveMember_zXFbcGqq6on3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">5,731</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$8.00</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceSixMember_zEhFJJGdGUDa" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">32,700</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$9.68</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceSevenMember_zFvjegF5Vqnh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">34,884</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$31.20</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceEightMember_zefhW3rS5KF5" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">9,978</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$62.54</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceNineMember_zJIENIAQwoyh" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">6,825</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">$133.40</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceTenMember_z3zd9UAhze9d" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">27,500</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231_zSSjZaKkx5Y8" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exercise price options">538,618</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

25000

23781

364893

7326

5731

32700

34884

9978

6825

27500

538618

1500000

1600000

<p id="xdx_895_eus-gaap--DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock_zCfIcvKBl0Gh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Stock compensation expenses is comprised of the following: Schedule of Stock Compensation Expenses <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49A_20250101__20251231_zGFR0Ds0fGBk" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_zDaInVs5d9Oa" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Year Ended December 31</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_406_eus-gaap--CompensationExpenseExcludingCostOfGoodAndServiceSold_maSBCz4zY_ziQpV2gO2Js8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 56%">Compensation and employee benefits</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right">796,565</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right">1,575,952</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td></tr> <tr id="xdx_408_eus-gaap--ProfessionalAndContractServicesExpense_maSBCz4zY_zinsT031djka" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Professional services</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">688,993</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_406_eus-gaap--AllocatedShareBasedCompensationExpense_iT_mtSBCz4zY_ziAfrkdHO8rd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Total</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif">$</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,485,558</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif">$</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,575,952</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> </table>

796565

1575952

688993

1485558

1575952

300000

P1Y7M6D

3.00

<p id="xdx_897_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zBLF5tLlWi69" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">A summary of the Company’s RSU activities and related information for the year ended December 31, 2025 and December 31, 2024 is as follows: Schedule of Restricted Stock Units <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Restricted Stock Units</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">No. of RSU</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Weighted- Average Grant Date Fair Value Per RSU</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Weighted- Average Remaining Contractual Life (in Years)</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 40%">January 1, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z7PT41wnGJg5" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="No. of RSU, Beginning Balance">8,583</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zohVW90RW5v9" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Beginning Balance">26.20</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5wEPQlaVBJ1" title="Weighted-Average Remaining Contractual Life">1.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzmFRC4uaH22" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Granted">- </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmcRIvo5dKYj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Granted">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Vested</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxGQmUfPD9m3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Vested">(5,740</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zIJoCyWhon7j" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Vested">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Expired</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriod_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zW75pewJDGO7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Expired">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriodWeightedAverageGrantDateFairValue_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zGtMa6SBIc9j" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Expired">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Cancelled / Forfeited</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzd5wR2Slli6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Forfeited">(2,843</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zDoLsV9NRQD7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Cancelled / Forfeited">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zvmnWyT0Z3Fl" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Ending Balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zjAXgj6cPMul" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Ending Balance">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Restricted Stock Units</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">No. of RSU</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Weighted- Average Grant Date Fair Value Per RSU</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Weighted- Average Remaining Contractual Life (in Years)</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 40%">January 1, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxG81gxKrYg4" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="No. of RSU, Beginning Balance">16,175</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5XaMVn239H6" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Beginning Balance">26.20</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zS6mGbQyQEf4" title="Weighted-Average Remaining Contractual Life">2.00</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zB3trRyrsX41" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Granted">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zPcrBKBjlIt1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Granted">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Vested</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zVoH1gNT55ag" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Vested">(5,392</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zcAnwqzYuww1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Vested">26.20</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Expired</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriod_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zGPGGLt5dyZ7" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Expired">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriodWeightedAverageGrantDateFairValue_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zl0YFeZujiQl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Expired">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">Cancelled / Forfeited</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z7vFu2p9Dc97" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Forfeited">(2,200</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zNHeo9svLsS2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Cancelled / Forfeited">26.20</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmYbXBh7pSL8" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="No. of RSU, Ending Balance">8,583</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zpvz8LH9pI68" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Weighted Average Grant Date Fair Value Per RSU, Ending Balance">26.20</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQPA2cs2XVqe" title="Weighted-Average Remaining Contractual Life">1.00</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

8583

26.20

P1Y

5740

2843

16175

26.20

P2Y

5392

26.20

2200

26.20

8583

26.20

P1Y

40000.00

60000.00

4292

5392

0.00

100000

0.0

Note 20 - Commitments and Contingencies Contractual Commitments The Company has an employment agreement with its Chief Executive Officer. Under the terms of the agreement, if the contract is not renewed or is terminated without cause, the Company is obligated to pay severance equal to the CEO’s then-current annual base salary. The agreement also provides for an annual cash bonus opportunity of up to 100% of base salary, based on performance criteria established by the Board of Directors, and for long-term incentive compensation, the terms of which are to be determined by the Board of Directors. The Company is party to contractual obligations, including lease liabilities related to operating leases, and stipulated cash bonus arrangements with employees. These obligations are time-based and are reflected in the accompanying consolidated financial statements. The Company expects to meet these commitments in the ordinary course of business. In addition, the Company has entered into deferred bonus agreements with certain non-executive employees. These agreements provide for cash bonus payments upon the employee’s continued employment through specified payment dates as set forth in each individual arrangement. As of December 31, 2025, the aggregate amount of deferred bonuses outstanding under these agreements was approximately $0.1 million. The Company expects to fund these obligations from operating cash flows in the ordinary course of business. Acquisition of 420 IT Solutions On December 19, 2025, Safe Harbor Managed Services LLC, a wholly-owned subsidiary of the Company, entered into an Asset Purchase Agreement with 420 IT Solutions and its founders. The Company accounted for this transaction as an asset purchase pursuant to ASC 805, Business Combinations. The aggregate purchase price consisted of 125,000 Earnout Shares, plus the assumption of certain identified liabilities under contracts assigned to the Company. The Earnout Shares are subject to performance-based vesting over a two-year earnout period ended December 31, 2027. Intangible assets and contingent consideration are recognized as the performance conditions become probable of achievement. The Company evaluated the achievement of the performance obligation and deemed this unlikely to be reached. Therefore, the intangible assets and contingent liability were not recorded as of December 31, 2025. If circumstances change when the revenue target is probable, then the intangible assets and a contingent liability will be recorded. The Company has one year to evaluate this transaction. Legal and Related Matters The Company is involved in, or has been involved in, arbitrations or various other legal proceedings that arise from the normal course of its business. The ultimate outcome of any litigation is uncertain, and either an unfavorable or favorable outcome could have a material impact on the Company’s results of operations, balance sheets, and cash flows due to defense costs, and could divert management resources. The Company cannot predict the timing or outcome of these claims and other proceedings. With respect to the cases described below, the Company evaluates associated developments on a regular basis and accrues a liability when it believes a loss is probable and the amount can be reasonably estimated. Abaca - Denver County District Court On October 17, 2024, the Company filed a complaint in the District Court for the City and County of Denver, Colorado, captioned SHF Holdings, Inc. v. Daniel Roda, Gregory W. Ellis, and James R. Carroll, Case No. 2024CV33187. The lawsuit arises from a dispute over the terms of the Company’s October 2022 acquisition of Abaca, which was subsequently amended by a First Amendment in November 2022 and a Second Amendment in October 2023. The Second Amendment restructured certain merger consideration, including introducing warrants and modifying payment timing. The defendants contend the Second Amendment is invalid under Delaware law and seek to have it set aside, which would reinstate the original payment terms and potentially increase the Company’s obligations. The Company maintains that the Second Amendment was validly executed and is binding. On November 21, 2024, at the Company’s request, the disputed merger payment of $3.0 million was deposited into the Denver County District Court’s registry pending resolution of the dispute. This amount is reflected in the Company’s financial statements. On December 19, 2024, the defendants filed an answer and counterclaims against the Company alleging breach of contract and related causes of action, and a third-party claim was asserted against Fred Niehaus, the Company’s Chairman. On January 16, 2025, the Company filed a motion to dismiss all counterclaims. On April 18, 2025, the Court issued an order denying the Company’s motion to dismiss most counterclaims, while dismissing the claims against Mr. Niehaus with prejudice. The Court also dismissed Gregory W. Ellis as a counter-plaintiff and third-party plaintiff because Mr. Ellis lacked standing to bring any claim, and denied a third-party’s request to intervene in the litigation. The Court further clarified that the Delaware statutes cited by the defendants (DGCL §§ 251(d) and 264(b)) govern pre-closing amendments and do not authorize post-merger amendments altering consideration a finding consistent with the Company’s legal position. The case is currently in active discovery. The Company filed a motion for summary judgment on December 16, 2025, covering Counterclaims I through IV. The defendants filed cross-motions for summary judgment on January 23, 2026, covering Counterclaims I through V and a declaratory judgment claim. All briefing on summary judgment is complete as of the date of this filing, and rulings are pending. A court date is scheduled for May 2026. The Company is vigorously defending against the counterclaims and continues to monitor the proceedings and potential financial exposure. If the District Court upholds the Second Amendment, its cash obligation is limited to the $3.0 million already deposited in the District Court’s registry, with additional exposure limited primarily to legal fees. The Company currently considers an adverse outcome reasonably possible but not probable. The estimated range of loss is $0 to $7.8 million. Accordingly, no accrual has been recorded for this contingency beyond the $3.0 million already reflected in the financial statements. Nasdaq Listing Compliance As a condition of continued listing, the Company is required to maintain (i) a minimum of $2.5 million in stockholders’ equity under Nasdaq Listing Rule 5550(b)(1), and (ii) a minimum closing bid price of $1.00 per share for 30 consecutive business days under Nasdaq Listing Rule 5550(a)(2). The Company continuously monitors its compliance with these requirements. As of December 31, 2025, the Company’s stockholders’ equity was approximately $8.2 million, which exceeds the $2.5 million minimum. However, the Company’s Class A common stock is currently trading below $1.00 per share. If the closing bid price remains below $1.00 for 30 consecutive business days, Nasdaq may issue a deficiency notice, and the Company would have 180 days to regain compliance. In addition, the Company is aware of a proposed new Nasdaq rule filed with the SEC on January 13, 2026, that would require listed companies to maintain a minimum market value of listed securities of at least $5 million. Under the proposed rule, if a company’s market value of listed securities falls below $5 million for 30 consecutive business days, Nasdaq would immediately suspend trading and delist the company’s securities without a cure period and without a stay of suspension during any appeal. The SEC has extended its review period and is expected to make a decision on this proposed rule by April 29, 2026. If adopted, the rule would become effective 60 days after SEC approval. Based on the Company’s current stock price and number of shares outstanding as of the date of this filing, the Company may not be in compliance with this proposed requirement at the time of its adoption and could be subject to immediate delisting as soon as 30 business days after the rule takes effect. There can be no assurance that the Company will maintain compliance with these or any other Nasdaq listing requirements in the future. Failure to do so could ultimately result in the delisting of the Company’s common stock, which would adversely affect stockholders’ ability to trade their shares and the Company’s ability to raise capital. Furthermore, as described elsewhere in this Annual Report, a delisting event or a compliance failure that triggers the Listing-Related Adjustment Clause in the Second Amended CAA would simultaneously reduce the Company’s loan program income share, compounding the adverse financial impact of any such event.

100000

125000

3000000.0

The Company currently considers an adverse outcome reasonably possible but not probable. The estimated range of loss is $0 to $7.8 million. Accordingly, no accrual has been recorded for this contingency beyond the $3.0 million already reflected in the financial statements.

Note 21 - Subsequent Events The Company has evaluated events and transactions occurring after December 31, 2025, through the date these financial statements were issued, and has identified the following matters requiring disclosure. Unless otherwise noted, these are non-recognized subsequent events under ASC 855-10 that do not adjust amounts in the December 31, 2025 financial statements but are material enough to warrant disclosure. Second Amended and Restated Commercial Alliance Agreement On February 4, 2026, SHF LLC, a wholly owned subsidiary of the Company, executed the Second Amended CAA with PCCU, a related party. The agreement carries a retroactive effective date of October 1, 2025. The Company had agreed to the terms for the Second Amended CAA in October 2025 and was executed on February 4, 2026, see Note 10 - Related Party Transactions. Price Reset of Series B Convertible Preferred Stock and Warrants Subsequent to December 31, 2025, the first and only automatic price reset under the Company’s Series B Convertible Preferred Stock and accompanying Series B Warrants occurred, see Note 19 Stockholders’ Equity (Deficit). ELOC Subsequent to December 31, 2025, the Company has continued to draw on its ELOC, under which the Company may raise up to $<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20260101__20260101__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zIToCkPa4Or8" title="Share issued value">150.0 million through the issuance of shares of its common stock. The Company issued <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20260101__20260101__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zvQBdqUd3y9k" title="Share issued">223,962 shares of Common Stock under the ELOC after December 31, 2025, receiving gross proceeds of approximately $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20260101__20260101__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z5DnT9y0Fbnh" title="Gross proceeds">0.2 million at average share price of $<span id="xdx_90F_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20260101__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zaGA0vZWa4Me" title="Share issued price per share">0.77. <span id="xdx_902_eus-gaap--SaleOfStockDescriptionOfTransaction_c20260101__20260101__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zoMsBK66tFSd" title="Sale of stock, description of transaction">These transactions will be reflected in the Company’s first quarter 2026 financial statements. No Other Material Subsequent Events The Company has evaluated all other events and transactions occurring after December 31, 2025, through the date these financial statements were issued, and has determined that no other events or transactions have occurred that would require recognition or disclosure in these financial statements.

150000000.0

223962

200000

0.77

These transactions will be reflected in the Company’s first quarter 2026 financial statements.