| Schedule of Disaggregation of Revenue |
The disaggregation of the Company’s revenue by major sources is as follows: | | | | | | | | | | | | | Three Months Ended March 31, | | 2026 | | 2025 | | Asset management: | | | | | Asset management fees, related party | $ | 6,656,464 | | | $ | 6,698,201 | | | Asset management fees | 987,055 | | | 729,010 | | | Servicing revenue, related party | 760,237 | | | 326,487 | | | Servicing revenue | 55,388 | | | 19,379 | | | Total asset management revenue | 8,459,144 | | | 7,773,077 | | | Life solutions: | | | | Revenue from life insurance policies using the fair value method, net | 31,462,057 | | | 32,933,861 | | Revenue from life insurance policies using the fair value method, related party, net | 16,550,621 | | | 901,346 | | | Insurance commissions | 1,630,676 | | | — | | | | | | | | | | | | | | | Originations | 923,934 | | | 2,463,450 | | | Total life solutions revenue | 50,567,288 | | | 36,298,657 | | | Technology services: | | | | | Technology services | 363,856 | | | 67,612 | | | Total technology services revenue | 363,856 | | | 67,612 | | | Total revenue | $ | 59,390,288 | | | $ | 44,139,346 | |
Further disaggregation of life solutions revenue: | | | | | | | Three Months Ended March 31, | | 2026 | | Life solutions: | | Realized gains from life insurance policies sold and matured using the fair value method | $ | 4,963,066 | | Premiums paid on sold and matured life insurance policies using the fair value method | (80,356) | | Premiums paid on life insurance policies held using the fair value method | (5,852,784) | | Reversal of unrealized gains from prior quarters related to life insurance policies sold or matured using the fair value method | (10,170,472) | | | Unrealized gains from life insurance policies held using the fair value method | 42,602,603 | | Revenue from life insurance policies using the fair value method, net | 31,462,057 | | Realized gains from life insurance policies sold and matured using the fair value method, related party | 87,931,646 | |
| | | | | | | Three Months Ended March 31, | | 2026 | Premiums paid on sold life insurance policies using the fair value method, related party | (3,743,608) | | Reversal of unrealized gains from prior quarters related to life insurance policies sold and matured using the fair value method, related party | (67,637,417) | | Revenue from life insurance policies using the fair value method, related party, net | 16,550,621 | | Total revenue for life insurance policies using the fair value method | $ | 48,012,678 | |
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| Schedule of Asset Management Related Balances |
The Company has the following asset management related balances recorded within the following accounts in the consolidated balance sheets: | | | | | | | | | | | | | Balance Sheet Account | March 31, 2026 | | December 31, 2025 | | Management and Performance Fee Receivables: | | | | | Accounts receivable, related party | $ | 10,134,293 | | | $ | 6,718,903 | | | Management and performance fee receivable, related party | 14,509,188 | | | 14,800,140 | | | Total management and performance fee receivables | $ | 24,643,481 | | | $ | 21,519,043 | | | Retrocession Fee Payable: | | | | | Other current liabilities | $ | 5,217,445 | | | $ | 4,696,788 | | | Retrocession fees payable | 5,361,714 | | | 5,361,714 | | | Total retrocession fees payable | $ | 10,579,159 | | | $ | 10,058,502 | |
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