v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (6,079,016) $ (2,646,172)
Adjustments to reconcile loss from operations to net cash used in operating activities:    
Stock-based compensation 269
Change in fair value of warrant liabilities (69,660) (39,225)
Gain on change in fair value of convertible debt (10,236)
Provision for credit losses of short-term note receivable 142,574 197,000
Impairment of intangible assets 182,619
Accrued interest on short-term note receivable (184,942) (110,871)
Interest expense 73,615
Net loss on digital assets 1,945,582
Payments made with digital assets 337,839
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 327,138 913,454
Accounts payable 216,724 (37,330)
Accrued expenses and other current liabilities (102,989) 59,861
Related party payables (1,200,987)
Net cash used in operating activities (4,495,354) (1,589,396)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Issuance of short-term note receivable (305,000)
Prepayment of investments to related party (10,000,000)
Purchase of digital assets (338,102)
Sales of digital assets 2,107,911
Purchase of intangible assets (274,041)
Net cash provided by (used in) investing activities (8,504,232) (305,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of convertible debt (132,000)
Proceeds from issuance of promissory notes 750,000
Net cash provided by (used in) financing activities (132,000) 750,000
Net change in cash and cash equivalents (13,131,586) (1,144,396)
Cash and cash equivalents - beginning of period 19,332,707 1,174,608
Cash and cash equivalents- end of period 6,201,121 30,210
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest
Taxes
NONCASH FINANCING AND INVESTING ACTIVITIES:    
Issuance of common stock for the conversion of Series B preferred shares 26,432,819
Issuance of common stock for the conversion of Series A-2 preferred shares $ 2,893,306