v3.26.1
Segments
 3 Months Ended
Mar. 31, 2026
Segments [Abstract]  
SEGMENTS

NOTE 14 – SEGMENTS

 

The Company applies ASC 280, Segment Reporting, in determining its reportable segments. The Company has two reportable segments: Bitcoin Mining and Fintech Services. The guidance requires that segment disclosures present the measure(s) used by the Chief Operating Decision Maker (“CODM”) to decide how to allocate resources and for purposes of assessing such segments’ performance. The Company’s CODM is comprised of several members of its executive management team who use revenue and expenses of our two operating segments to assess the performance of the business of our reportable operating segments.

 

The following is the balance sheet for the Company’s reportable segments for the three months ended March 31, 2026.

 

   Fintech
Segment		   Bitcoin
Mining
Segment		   Consolidated
Total		 
ASSETS            
Current Assets:            
Cash  $2,309,764   $17,959   $2,327,723 
Accounts receivable, net   16,139    
—
    16,139 
Prepaid expenses   441,016    
—
    441,016 
Other receivables   477,232    398,983    876,215 
Other current assets   
—
    73,664    73,664 
Total Current Assets   3,244,151    490,606    3,734,757 
                
Other Assets:               
Property and equipment, net   
—
    2,721,710    2,721,710 
Goodwill   8,139,889    
—
    8,139,889 
Other long-term assets   380,952    
—
    380,952 
Total Other Assets   8,520,841    2,721,710    11,242,551 
                
TOTAL ASSETS  $11,764,992   $3,212,316   $14,977,308 
                
LIABILITIES AND STOCKHOLDERS’ EQUITY               
Current Liabilities:               
Cash overdraft  $27,019   $
—
   $27,019 
Accounts payable   3,000,582    722,229    3,722,811 
Accrued expenses   791,113    28,375    819,488 
Merchant portfolio purchase installment obligation   2,000,000    
—
    2,000,000 
Related party payable   124,815    
—
    124,815 
Note payable – current portion   182,684    
—
    182,684 
Due to/from intercompany   (24,370,147)   24,370,147    
—
 
Total Current Liabilities   (18,243,934)   25,120,751    6,876,817 
Total Liabilities   (18,243,934)   25,120,751    6,876,817 
                
Stockholders’ Equity:               
Series A Preferred stock   
—
    
—
    
—
 
Common stock   1,250    
—
    1,250 
Common stock to be issued   130,120    
—
    130,120 
Treasury stock   (109,988)   
—
    (109,988)
Additional paid-in capital   83,605,449    100    83,605,549 
Accumulated deficit   (53,617,905)   (21,908,535)   (75,526,440)
Total stockholders’ equity (deficit)   30,008,926    (21,908,435)   8,100,491 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY  $11,764,992   $3,212,316   $14,977,308 

The following tables detail revenue and operating expenses for the Company’s reportable segments for the three months ended March 31, 2026.

 

   Fintech
Segment		   Bitcoin
Mining
Segment		   Consolidated
Total		 
Revenue:            
Transaction and processing fees  $1,517,771   $
—
   $1,517,771 
Revenue, net - bitcoin mining   
—
    48,220    48,220 
Other revenue from monthly recurring subscriptions   21,391    4,545    25,936 
Digital product revenue   64,417    
—
    64,417 
Total revenue   1,603,579    52,765    1,656,344 
                
Operating expenses:               
Processing and servicing costs   1,481,251    
—
    1,481,251 
Depreciation expense   
—
    3,410    3,410 
Salaries and wages   516,278    153,159    669,437 
Professional fees   111,336    31,069    142,405 
General and administrative expenses   455,665    174,064    629,729 
Total operating expenses   2,564,530    361,702    2,926,232 
                
Loss from operations   (960,951)   (308,937)   (1,269,888)
                
Other income (expense):               
Interest expense   (100)   
—
    (100)
Loss on settlement of accounts payable   192,406    
—
    192,406 
Total other income   192,306    
—
    192,306 
                
Net loss   (768,645)   (308,937)   (1,077,582)

The following is the balance sheet for the Company’s reportable segments for the year ended December 31, 2025.

 

   Fintech
Segment		   Bitcoin
Mining
Segment		   Consolidated
Total		 
ASSETS            
Current Assets:            
Cash  $15,751   $26   $15,777 
Accounts receivable, net   17,430    
—
    17,430 
Prepaid expenses   162,766    
—
    162,766 
Other receivables   430,232    398,983    829,215 
Other current assets   
—
    25,444    25,444 
Total Current Assets   626,179    424,453    1,050,632 
                
Other Assets:               
Property and equipment, net   
—
    2,725,120    2,725,120 
Goodwill   8,139,889    
—
    8,139,889 
Other long-term assets   380,952    
—
    380,952 
Total Other Assets   8,520,841    2,725,120    11,245,961 
                
TOTAL ASSETS  $9,147,020   $3,149,573   $12,296,593 
                
LIABILITIES AND STOCKHOLDERS’ EQUITY               
Current Liabilities:               
Cash overdraft  $27,019   $
—
   $27,019 
Accounts payable   3,780,116    682,134    4,462,250 
Accrued expenses   817,600    
—
    817,600 
Merchant portfolio purchase installment obligation   2,000,000    
—
    2,000,000 
Related party payable   167,315    
—
    167,315 
Note payable – current portion   216,684    
—
    216,684 
Due to/from intercompany   (24,067,037)   24,067,037    
—
 
Total Current Liabilities   (17,058,303)   24,749,171    7,690,868 
Total Liabilities   (17,058,303)   24,749,171    7,690,868 
                
Stockholders’ Equity:               
Series A Preferred stock   
—
    
—
    
—
 
Common stock   944    
—
    944 
Treasury stock   (109,988)   
—
    (109,988)
Additional paid-in capital   79,163,627    
—
    79,163,627 
Accumulated deficit   (52,849,260)   (21,599,598)   (74,448,858)
Total stockholders’ equity (deficit)   26,205,323    (21,599,598)   4,605,725 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY  $9,147,020   $3,149,573   $12,296,593 

The following tables detail revenue and operating expenses for the Company’s reportable segments for the three months ended March 31, 2025.

 

   Fintech
Segment		   Bitcoin
Mining
Segment		   Consolidated
Total		 
Revenue:            
Transaction and processing fees  $2,058,277   $
—
   $2,058,277 
Merchant equipment rental and sales   12,124    
—
    12,124 
Revenue, net - bitcoin mining   
—
    85,482    85,482 
Other revenue from monthly recurring subscriptions   72,637    
—
    72,637 
Digital product revenue   93,016    
—
    93,016 
Total revenue   2,236,054    85,482    2,321,536 
                
Operating expenses:               
Processing and servicing costs, excluding merchant portfolio amortization   1,808,814    
—
    1,808,814 
Amortization expense   3,972    
—
    3,972 
Depreciation expense   
—
    258,349    258,349 
Salaries and wages   255,666    275,690    531,356 
Professional fees   69,793    7,780    77,573 
General and administrative expenses   380,359    109,792    490,151 
Total operating expenses   2,518,604    651,611    3,170,215 
                
Loss from operations   (282,550)   (566,129)   (848,679)
                
Other income (expense):               
Interest expense   (225,319)   
—
    (225,319)
Other expense   (15,000)   
—
    (15,000)
Total other income   (240,319)   
—
    (240,319)
                
Net loss   (522,869)   (566,129)   (1,088,998)
                
Preferred dividends (related party)   (30,630)   
—
    (30,630)
                
Net Loss Applicable to Common Stockholders’  $(553,499)  $(566,129)  $(1,119,628)