v3.26.1
Accounts Payable and Accrued Expenses
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Payables and Accruals [Abstract]    
Accounts Payable and Accrued Expenses

Note 9. Accounts Payable and Accrued Expenses

 

Accounts payable and accrued expenses consist of the following:

 

               
    March 31,
2026		     December 31,
2025		  
Accounts payable   $ 13,425,321     $ 12,425,200  
Accrued interest (various notes and loans payable)     1,199,333       713,754  
Accrued tax penalties and interest     1,029,846       837,477  
Accounts payable and accrued expenses   $ 15,654,500     $ 13,976,431  

 

Related-party accounts payable and accrued expenses consisted of the following:

 

               
    March 31,
2026		     December 31,
2025		  
Accounts payable - related parties   $ 2,048     $ 1,593,994  
Accrued interest (notes payable) - related parties     3,411,998       238,632  
Accounts payable and accrued expenses - related parties   $ 3,414,046     $ 1,832,625  

 

Accounts payable primarily consist of trade payables and operating accruals incurred in the ordinary course of business.

 

Note 9. Accounts Payable and Accrued Expenses

 

Accounts payable and accrued expenses consist of the following:

 

               
    December 31,     December 31,  
    2025     2024  
Accounts payable   $ 12,425,200     $ 27,714,220  
Accrued interest (various notes and loans payable)     713,754       5,787,464  
Accrued tax penalties and interest     837,477       837,477  
Accounts payable and accrued expenses   $ 13,976,431     $ 34,339,161  

 

               
    December 31,     December 31,  
    2025     2024  
Accounts payable - related parties   $ 1,593,994     $ 715,526  
Accrued interest (notes payable) - related parties     238,632       116,458  
Accounts payable and accrued expenses - related parties   $ 1,832,625     $ 831,984  
Accrued compensation   $ 41     $ 1,249,099  

 

As of December 31, 2025 and 2024, accounts payable are primarily comprised of trade payables. Trade accounts payable include amounts due to a vendor of which the Company’s Chief Executive Officer is a beneficiary of $0 and $715,525, respectively. Accounts payable also include an accrued settlement expense of $1,750,000, and other routine operating accruals incurred in the normal course of business. Amounts accrued as of December 31, 2024 related to compensation and other obligations to the Company’s Chief Financial Officer were settled during the year ended December 31, 2025, as part of the settlement expense referenced, and as a result, no further amounts related to these obligations remained outstanding as of December 31, 2025. See Note 13 - Commitments and Contingencies for additional information.