v3.26.1
Debt and Other Financing Arrangements (Tables)
3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Debt

Debt of the Company consisted of the following as of March 31, 2026 and December 31, 2025:

 

 

March 31, 2026

 

 

December 31, 2025

 

Financing agreement with Imperial PFS that is unsecured. Down payment of $9,218 was required upfront. Eleven installment payments of $16,743 are to be made over the loan term. The note matures on June 1, 2026. Annualized interest is 9.45%.

 

 

50,230

 

 

 

100,461

 

 

 

 

 

 

 

 

Financing agreement with Imperial PFS that is unsecured. Down payment of $6,900 was required upfront. Six installment payments of $12,604 are to be made over the loan term. The note matures on June 1, 2026. Annualized interest is 9.45%.

 

 

37,813

 

 

 

75,627

 

 

 

 

 

 

 

 

Financing agreement with Imperial PFS that is unsecured. Down payment of $50,635 was required upfront. Ten installment payments of $47,553 are to be made over the loan term. The note matures on August 1, 2026. Annualized interest is 8.6%.

 

 

237,765

 

 

 

380,423

 

 

 

 

 

 

 

 

Secured loan with Brown Family Enterprises LLC. The note matures on June 30, 2026. Interest is 11% per annum.

 

 

1,500,000

 

 

 

1,500,000

 

 

 

 

 

 

 

 

Loan with SE & AJ Liebel Limited Partnership. $2.2 million of Bitcoin has been pledged as collateral. The note matures on September 15, 2027. Interest is 12% per annum.

 

 

2,000,000

 

 

 

2,000,000

 

 

 

 

 

 

 

 

Loan with SE & AJ Liebel Limited Partnership. $5.5 million of Bitcoin has been pledged as collateral. The note matures on August 6, 2026. Interest is 12% per annum.

 

 

5,000,000

 

 

 

5,000,000

 

 

 

 

 

 

 

 

Loan with Galaxy Digital LLC. $11.9 million and $12.7 million worth of Bitcoin have been pledged as collateral as of March 31, 2026 and December 31, 2025, respectively. The note matures on June 26, 2026. Interest is 0% per annum.

 

 

11,000,000

 

 

 

11,000,000

 

 

 

 

 

 

 

 

Debt discount

 

 

(194,051

)

 

 

(196,259

)

 

 

$

19,631,757

 

 

$

19,860,252

 

 

Schedule of Principal Payments of Debt

Minimum required principal payments on the Company's debt as of March 31, 2026 are as follows:

Maturity

 

Amount

 

2026

 

 

17,825,808

 

2027

 

 

2,000,000

 

 

$

19,825,808