Schedule of Financial Assets and Liabilities by Level within the Fair Value Hierarchy

The following table sets forth the fair value of the Company’s financial assets and liabilities by level within the fair value hierarchy as of March 31, 2026.

	At March 31, 2026
	Level 1		Level 2		Level 3		Total
Liabilities:
Note payable (Note 7)	$	—	$	—	$	2,496,388	$	2,496,388
CCS Note (Note 7)		—		—		5,301,235		5,301,235
Public Warrants		—		—		3,415,500		3,415,500
Private Placement Warrants		—		—		1,900,800		1,900,800
Note payable – Polar (Note 7)		—		—		1,480,291		1,480,291
Total liabilities	$	—	$	—	$	14,594,214	$	14,594,214

The following table sets forth the fair value of the Company’s financial assets and liabilities by level within the fair value hierarchy as of December 31, 2025.

	At December 31, 2025
	Level 1		Level 2		Level 3		Total
Liabilities:
Note payable (Note 7)	$	—	$	—	$	3,323,407	$	3,323,407
CCS Note (Note 7)		—		—		5,220,666		5,220,666
Public Warrants		—		—		483,000		483,000
Private Placement Warrants		—		—		268,800		268,800
Note payable – Polar (Note 7)		—		—		1,438,609		1,438,609
Total liabilities	$	—	$	—	$	10,734,481	$	10,734,481

There were no financial assets and liabilities recorded at fair value as of December 31, 2024.

	At December 31, 2025
	Level 1		Level 2		Level 3		Total
Liabilities:
Note payable (Note 7)	$	—	$	—	$	3,323,407	$	3,323,407
CCS Note (Note 7)		—		—		5,220,666		5,220,666
Public Warrants		—		—		483,000		483,000
Private Placement Warrants		—		—		268,800		268,800
Note payable – Polar (Note 7)		—		—		1,438,609		1,438,609
Total liabilities	$	—	$	—	$	10,734,481	$	10,734,481

Schedule of Fair Value of Liabilities Recorded under the Fair Value Option at Issuance

The fair value of the Company’s liabilities recorded under the fair value option was estimated using Level 3 fair value measurements. The significant inputs to the calculation of the fair value of liabilities recorded under the fair value option as of March 31, 2026, were as follows:

	Three Months Ended March 31, 2026
	Note Payable(1)	CCS Note(1)
Valuation Inputs:
Expected term (in years)	0.75	0.75
Risk-adjusted discount rate	11.89% – 16.95%	11.96% – 16.95%

(1) Fair value was estimated using a discounted cash flow model, which applies a risk-adjusted discount rate to projected future cash flows. The valuation involves significant judgement in determining key inputs such as forecasted revenue growth, margin expectations and discount rates.

The fair value of the Company’s liabilities recorded under the fair value option was estimated using Level 3 fair value measurements. The significant inputs to the calculation of the fair value of liabilities recorded under the fair value option as of December 31, 2025, were as follows:

	Year Ended December 31, 2025
	Note Payable(1)	CCS Note(1)	Loan Payable to Related Party(1)
Valuation Inputs:
Expected term (in years)	0.25 – 1.00	1.25 – 1.00	0.25 – 1.00
Risk-adjusted discount rate	11.89%	11.96% – 16.95%	11.89% – 17.38%

(1) Fair value was estimated using a discounted cash flow model, which applies a risk-adjusted discount rate to projected future cash flows. The valuation involves significant judgement in determining key inputs such as forecasted revenue growth, margin expectations and discount rates.

The significant inputs to the calculation of the fair value of liabilities recorded under the fair value option at issuance and December 31, 2025, were as follows:

	Year Ended December 31, 2025
	Note Payable(1)	CCS Note(1)	Loan Payable to Related Party(1)
Valuation Inputs:
Expected term (in years)	0.25 – 1.00	1.25 – 1.00	0.25 – 1.00
Risk-adjusted discount rate	11.89%	11.96% – 16.95%	11.89% – 17.38%

(1) Fair value was estimated using a discounted cash flow model, which applies a risk-adjusted discount rate to projected future cash flows. The valuation involves significant judgement in determining key inputs such as forecasted revenue growth, margin expectations and discount rates.

Fair Value Measurements (Tables) [Line Items]

Schedule of Public Warrants

The key inputs into the models for the Private Placement Warrants were as follows:

Input	March 31, 2026
Warrant exercise price	$	11.50
Risk-free rate		3.875	%
Dividend yield		0.00	%
Expected term (years)		4.1833
Expected volatility		194.44	%
Class A common stock price	$	0.366

The key inputs into the models for the Private Placement Warrants were as follows:

Input	December 31, 2025
Warrant exercise price	$	11.50
Risk-free rate		3.67	%
Dividend yield		0.00	%
Expected term (years)		4.4
Expected volatility		100.58	%
Class A common stock price	$	0.27

Fair Value Measurements (Tables) [Line Items]