v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2026
Dec. 31, 2025
Jun. 30, 2025
D. Boral ARC Acquisition I Corp [Member]        
Schedule of fair value assets and liabilities
                     
    Level     December 31,
2025		     March 31,
2026		  
Asset:                      
Cash held in trust   1     $ 284,776,628     $ 287,319,687  
  
             
    Level     August 1,
2025		  
Liability:              
Fair value of over-allotment liability   3     $ 1,290,375  
Equity:              
Fair value of Public Warrants for Class A ordinary shares subject to possible redemption allocation   3     $ 8,061,250  

 

    Level    

December 31,
2025

  
Asset:              
Cash held in trust   1     $ 284,776,628  
  
Schedule of initial measurement    
       
    August 1,
2025		  
Risk-free interest rate     4.31 %
Expected term (years)     0.12  
Expected volatility     22.7 %
Exercise price   $ 10.00  
Fair value of over-allotment option   $ 0.3441  
  
Schedule of market assumptions    
       
    August 1,
2025		  
Estimated share price   $ 9.68  
Exercise price   $ 11.50  
Term (years)     2.75  
Annual risk-free rate (term-matched)     3.75 %
Expected warrant implied volatility based on warrants from comparable SPAC securities     14.44 %
  
Schedule of segment information
     
   

For the
Three Months Ended
March 31,
2026

  
    (Unaudited)  
Formation and operating costs   $ (531,741 )
Interest income on cash held in trust account   $ 2,543,059  
Cash held in Trust Account   $ 287,319,687  
  
       
    For the
Period from
March 20, 2025
(inception) through
December 31,
2025		  
    (Unaudited)  
Formation and operating costs   $ (320,658 )
Interest income on cash held in trust account   $ 4,776,628  
Cash held in Trust Account   $ 284,776,628  
  
Exascale Labs Inc. [Member]        
Schedule of fair value assets and liabilities  
                               
    Fair value measurement at reporting date using  
Description   Fair value
as of
June 30,
2025		     Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		     Significant Other
Observable Inputs
(Level 2)		     Significant
Unobservable Inputs
(Level 3)		  
Liabilities:                                
Simple agreements for future equity(1)   $ 18,243,885     $ -     $ -     $ 18,243,885  
Other payable related to the equity option(2)     53,333       -       -       53,333  

 

    Fair value measurement at reporting date using  
Description   Fair value
as of
March 31,
2026		     Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		     Significant Other
Observable Inputs
(Level 2)		     Significant
Unobservable Inputs
(Level 3)		  
Liabilities:                                
Simple agreements for future equity(1)   $ 26,842,205     $ -     $ -     $ 26,842,205  
Other payable related to the equity option(2)     53,333       -       -       53,333  

 

 
(1)

The Company classifies its SAFEs as financial liabilities measured at fair value. The value of these agreements depends significantly on future financing activities, liquidity events, or other material milestones, and their valuation relies on significant inputs that are not observable in the public market. Accordingly, they are classified within Level 3 of the fair value hierarchy.

 

The fair value measurement is based on an integrated framework combining scenario analysis and financial instrument decomposition (i.e. Bond Plus Call Method). The proceeds of the SAFEs on the date of issuance were $14,092,500, Refer to Note 8-Simple Agreements for Future Equity for further details.
   
(2) Equity options. On May 9, 2023, the Company entered into an agreement with a third-party service provider (the “Service Provider”). The Service Provider received a freestanding equity-linked right exercisable, at the Service Provider’s option, upon the closing of the Company’s next qualified equity financing. The right provides the ability to subscribe for up to the value of $200,000 at a 25% discount price per share on the grant date. The equity option is remeasured at fair value at each reporting date, with changes in fair value recognized in earnings. As of June 30, 2025 and March 31, 2026, the fair value of the equity option was $53,333, and no gain or loss from changes in fair value was recognized for the periods presented. The fair value measurement of the equity option is categorized within Level 3 of the fair value hierarchy and was determined using a scenario-based analysis, which incorporates significant unobservable inputs and management judgment regarding the probability and timing of potential future financing outcomes.
 
                               
    Fair value measurement at reporting date using  
Description   Fair value
as of
June 30,
2024		     Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		     Significant Other
Observable Inputs
(Level 2)		     Significant
Unobservable Inputs
(Level 3)		  
Liabilities:                                
Simple agreements for future equity(1)   $ 9,321,564     $ -     $ -     $ 9,321,564  
Other payable related to the equity option(2)     53,333       -       -       53,333  

 

    Fair value measurement at reporting date using  
Description  

Fair value
as of
June 30,

2025

     Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		     Significant Other
Observable Inputs
(Level 2)		     Significant
Unobservable Inputs
(Level 3)		  
Liabilities:                                
Simple agreements for future equity(1)   $ 18,243,885     $ -     $ -     $ 18,243,885  
Other payable related to the equity option(2)     53,333       -       -       53,333  

 

 
(1)

The Company classifies its SAFEs as financial liabilities measured at fair value. The value of the agreements depends significantly on future financing activities, liquidity events, or other material milestones, and their valuation relies on significant inputs that are not observable in the public market. Accordingly, they are classified within Level 3 of the fair value hierarchy.

 

The fair value measurement is based on an integrated framework combining scenario analysis and financial instrument decomposition (i.e. Bond Plus Call Method). The proceeds from the SAFEs on the date of issuance was $10,592,500, Refer to Note 9-Simple Agreements for Future Equity for further details.
   
(2) Equity option. On May 9, 2023, the Company entered into an agreement with a third-party service provider (the “Service Provider”). The Service Provider received a freestanding equity-linked right exercisable, at the Service Provider’s option, upon the closing of the Company’s next qualified equity financing. The right provides the ability to subscribe for up to the value of $200,000 at a 25% discount price per share on the grant date. The equity option is remeasured at fair value at each reporting date, with changes in fair value recognized in earnings. As of June 30, 2024 and June 30, 2025, the fair value of the equity option was $53,333, and no gain or loss from changes in fair value was recognized for the periods presented. The fair value measurement of the equity option is categorized within Level 3 of the fair value hierarchy and was determined using a scenario-based analysis, which incorporates significant unobservable inputs and management judgment regarding the probability and timing of potential future financing outcomes.
Schedule of segment information  
                               
    For the
Three Months Ended
March 31,		     For the
Nine Months Ended
March 31,		  
    2025     2026     2025     2026  
                         
Revenues   $ 1,862,158     $ 3,754,586     $ 4,475,885     $ 10,561,331  
Cost of revenues     (1,649,077 )     (3,167,659 )     (3,827,444 )     (8,902,966 )
Gross profit   $ 213,081     $ 586,927     $ 648,441     $ 1,658,365  
Research and development expenses     (377,999 )     (1,235,476 )     (2,115,853 )     (3,238,185 )
Selling and marketing expenses                                
– Staff costs, employee benefits and office expenses     (277,511 )     (104,729 )     (573,648 )     (310,582 )
– Share-based compensation     (101,000 )     -       (153,266 )     -  
General and administrative expenses                                
– Staff costs, employee benefits and Others     (3,890 )     (360,657 )     (33,785 )     (563,641 )
– Professional service expenses     (99,217 )     (108,039 )     (234,374 )     (364,614 )
Loss from operations   $ (646,536 )   $ (1,221,974 )   $ (2,462,485 )   $ (2,818,657 )
Change in fair value of simple agreements for future equity     (890,523 )     (1,410,457 )     (3,716,052 )     (5,098,320 )
Income tax expenses     -       -       -       -  
Net loss   $ (1,537,059 )   $ (2,632,431 )   $ (6,178,537 )   $ (7,916,977 )
 
               
    For the
years ended		  
    June 30,  
    2024     2025  
Revenues     1,319,115       7,015,512  
Cost of revenues     (1,263,548 )     (5,910,315 )
Research and development expenses     (1,365,433 )     (2,797,906 )
Selling and marketing expenses                
– Staff costs, employee benefits and office expenses     (262,614 )     (835,889 )
– Share-based compensation     -       (153,266 )
General and administrative expenses                
– Staff costs, employee benefits and Others     (244,651 )     (328,662 )
– Professional service expenses     (7,594 )     (34,320 )
– Share-based compensation     (21,104 )     -  
                 
Loss from operations     (1,845,829 )     (3,044,846 )
Change in fair value of simple agreements for future equity     (3,110,518 )     (4,614,821 )
Loss before income tax expenses     (4,956,347 )     (7,659,667 )
Income tax expense     -       -  
                 
Net loss     (4,956,347 )     (7,659,667 )
Schedule of geographic information  
                               
    For the
Three Months Ended
March 31,		     For the
Nine Months Ended
March 31,		  
    2025     2026     2025     2026  
United States of America   $ 581,009     $ 1,564,836     $ 1,273,279     $ 4,560,992  
Canada     367,107       1,139,055       1,089,559       3,232,326  
Singapore     662,559       425,009       1,361,844       1,237,464  
Hong Kong     150,000       417,992       450,000       1,118,534  
United Kingdom     98,483       207,694       291,203       412,015  
Others     3,000       -       10,000       -  
Total   $ 1,862,158     $ 3,754,586     $ 4,475,885     $ 10,561,331  
 
               
    For the
years ended
June 30,		  
    2024     2025  
Singapore   $ 260,941     $ 2,484,905  
United States of America     169,600       2,085,579  
Canada     574,664       1,443,306  
Hong Kong     157,500       600,000  
United Kingdom     145,410       391,722  
Others     11,000       10,000  
Total   $ 1,319,115     $ 7,015,512