Significant Accounting Policies (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
| Significant Accounting Policies [Abstract] |
|
| Schedule of Financial Assets Measured at Fair Value on a Recurring Basis |
The
following table provides information about the Company’s financial assets measured at fair value on a recurring basis and indicates
the level of the fair value hierarchy utilized to determine such fair values:
| As
of March 31, 2026 | |
Level
1 | | |
Level
2 | | |
Level
3 | | |
Total | |
| | |
| | |
| | |
| | |
| |
| Digital assets | |
$ | 68,229 | | |
$ | - | | |
$ | - | | |
$ | 68,229 | |
| | |
| | | |
| | | |
| | | |
| | |
| Cash equivalent - money market
funds | |
| 2,871,990 | | |
| - | | |
| - | | |
| 2,871,990 | |
| | |
| | | |
| | | |
| | | |
| | |
| Marketable securities | |
| 387,778 | | |
| - | | |
| - | | |
| 387,778 | |
| Derivative instruments | |
| - | | |
| - | | |
| (2,290,800 | ) | |
| (2,290,800 | ) |
| Short-term investment - Bond
linked notes | |
| - | | |
| 7,010,990 | | |
| - | | |
| 7,010,990 | |
| | |
| | | |
| | | |
| | | |
| | |
| Short-term investment - Equity
linked notes | |
| - | | |
| 14,912,800 | | |
| - | | |
| 14,912,800 | |
| | |
| | | |
| | | |
| | | |
| | |
| Total | |
$ | 3,327,997 | | |
$ | 21,923,790 | | |
$ | (2,290,800 | ) | |
$ | 22,960,987 | |
| As
of December 31, 2025 | |
Level
1 | | |
Level
2 | | |
Level
3 | | |
Total | |
| Digital assets | |
$ | 260,652 | | |
$ | - | | |
$ | - | | |
$ | 260,652 | |
| Cash equivalent - Money market
funds | |
| 4,797,697 | | |
| - | | |
| - | | |
| 4,797,697 | |
| Marketable securities | |
| 1,334,719 | | |
| - | | |
| - | | |
| 1,334,719 | |
| Derivative instruments | |
| - | | |
| - | | |
| (657,136 | ) | |
| (657,136 | ) |
| Short-term investment - Bond
linked notes | |
| - | | |
| 14,766,470 | | |
| - | | |
| 14,766,470 | |
| Short-term investment - Equity
linked notes | |
| - | | |
| 11,310,650 | | |
| - | | |
| 11,310,650 | |
| Short-term
investment - US Treasury Bond | |
| - | | |
| 11,587,134 | | |
| - | | |
| 11,587,134 | |
| Total | |
$ | 6,393,068 | | |
$ | 37,664,254 | | |
$ | (657,136 | ) | |
$ | 43,400,186 | |
|
| Schedule of Basic and Diluted Net Loss Per Common Share |
The
following table presents the computation of basic and diluted net loss per common share:
| | |
For
the Three Months Ended | |
| | |
March
31, | |
| | |
2026 | | |
2025 | |
| Numerator: | |
| | |
| |
| Net
loss attributable to common stockholders | |
$ | (5,194,881 | ) | |
$ | (4,836,484 | ) |
| | |
| | | |
| | |
| Denominator: | |
| | | |
| | |
| Weighted-average
common shares outstanding | |
| 6,229,522 | | |
| 7,345,463 | |
| Less:
weighted-average unvested restricted shares | |
| - | | |
| (94,009 | ) |
| Denominator
for basic and diluted net loss per share | |
| 6,229,522 | | |
| 7,251,454 | |
| | |
| | | |
| | |
| Basic
and Diluted Net Loss per Common Share | |
$ | (0.83 | ) | |
$ | (0.67 | ) |
|
| Schedule of Securities Excluded from Calculation of Weighted Average Dilutive Common Shares |
The
following securities are excluded from the calculation of weighted average dilutive common shares because their inclusion would have
been anti-dilutive:
| | |
For
the Three Months Ended | |
| | |
March
31, | |
| | |
2026 | | |
2025 | |
| Unvested restricted
common shares | |
| - | | |
| 59,167 | |
| Options | |
| 211,667 | | |
| 211,667 | |
| Warrants | |
| - | | |
| 1,242,424 | |
| | |
| 211,667 | | |
| 1,513,258 | |
|
| Schedule of In-Person Revenue |
In-person revenue
was comprised of the following for the three months ended March 31, 2026 and 2025:
| | |
For
the Three Months Ended | |
| | |
March
31, | |
| | |
2026 | | |
2025 | |
| Event revenue | |
$ | 471,832 | | |
$ | 1,020,682 | |
| Sponsorship revenue | |
| 458,237 | | |
| 458,547 | |
| Food and beverage revenue | |
| 66,782 | | |
| 77,311 | |
| Ticket and gaming revenue | |
| 47,618 | | |
| 88,335 | |
| Merchandising
revenue | |
| 7,963 | | |
| 11,880 | |
| Total
in-person revenue | |
$ | 1,052,432 | | |
$ | 1,656,755 | |
|
| Schedule of Revenue Recognized |
The
following table summarizes our revenue recognized under ASC 606 in our condensed consolidated statements of operations:
| | |
For
the Three Months Ended | |
| | |
March
31, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Revenues
Recognized at a Point in Time: | |
| | |
| |
| Food
and beverage revenue | |
$ | 66,782 | | |
$ | 77,311 | |
| Ticket
and gaming revenue | |
| 47,618 | | |
| 88,335 | |
| Merchandising
revenue | |
| 7,963 | | |
| 11,880 | |
| Casual
mobile games | |
| 500,779 | | |
| 618,323 | |
| Distribution
revenue | |
| 53 | | |
| 57 | |
| Total
Revenues Recognized at a Point in Time | |
| 623,195 | | |
| 795,906 | |
| | |
| | | |
| | |
| Revenues
Recognized Over a Period of Time: | |
| | | |
| | |
| Event
revenue | |
| 471,832 | | |
| 1,020,682 | |
| Sponsorship
revenue | |
| 458,237 | | |
| 458,547 | |
| Total
Revenues Recognized Over a Period of Time | |
| 930,069 | | |
| 1,479,229 | |
| Total
Revenues | |
$ | 1,553,264 | | |
$ | 2,275,135 | |
|