v3.26.1
Acquisitions, Investments and Disposals (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Acquisitions, Investments and Disposals [Abstract]    
Schedule of Components of the Purchase Price The final purchase price allocation is as follows:
Asset Description  Amount 
Intangible Assets  $7,821,867 
Cash   389 
Prepaid Expenses   3,392 
Property & Equipment   201,452 
Deposits and Other Assets   24,837 
Operating Lease ROU Asset   491,830 
Total Assets Acquired  $8,543,767 
Less: Deferred Revenue  $(228,371)
Less: Notes Payable   (312,697)
Less: Operating Lease Liability   (547,438)
Less: Accounts Payable and Accrued Liabilities   (1,103,239)
Net Assets Acquired   6,352,022 
Goodwill   8,087,902 
Total Purchase Price  $14,439,924 
 The final purchase price allocation is as follows:
Asset Description  Amount 
Intangible Assets  $7,821,867 
Cash   389 
Prepaid Expenses   3,392 
Property & Equipment   201,452 
Deposits and Other Assets   24,837 
Operating Lease ROU Asset   491,830 
Total Assets Acquired  $8,543,767 
Less: Deferred Revenue   (228,371)
Less: Notes Payable   (312,697)
Less: Operating Lease Liability   (547,438)
Less: Accounts Payable and Accrued Liabilities   (1,103,239)
Net Assets Acquired  $6,352,022 
Goodwill   8,087,902 
Total Purchase Price  $14,439,924 
Schedule of Pro Forma The pro forma results presented below do not include any material, nonrecurring items directly attributable to the acquisition.
   As of
December 31,
2025		 
Current Assets  $846,339 
Non-Current Assets  $17,295,608 
Total Assets  $18,141,947 
      
Current Liabilities  $8,760,728 
Non-Current Liabilities  $308,510 
Total Liabilities  $9,069,238 
      
Mezzanine Equity  $84,790 
Total Stockholders’ Equity (Deficit)  $8,987,919 

 

   For The
Three Months
Ended
March 31,
2026		   For The
Three Months
Ended
March 31,
2025		 
Revenue  $323,429   $136,131 
Cost of Revenue  $(333,201)  $(121,073)
Gross Profit  $(9,772)  $15,058 
Operating Expenses  $456,727   $309,596 
Interest expense  $
—
   $6,654 
Net Loss  $(466,499)  $(301,192)
  
Schedule of Fair Value of Total Consideration Received The fair value of total consideration received was as follows:
Fair Value of Consideration Received  Amount 
Cash  $1,035,827 
Promissory note receivable, at fair value   4,787,469 
Series D convertible preferred stock, at fair value   5,614,086 
Company liabilities assumed by the Buyer   239,446 
Total Fair Value of Consideration Received  $11,676,828 
  
Schedule of Net Assets of the Disposal Group

The carrying value of the net assets of the Disposal Group derecognized upon the loss of control was as follows:

 

Assets    
Cash and cash equivalents  $42,495 
Accounts receivable, net   985 
Prepaid expenses   74,492 
Property and equipment, net (aircraft, etc.)   155,216 
Right-of-use assets (operating leases)   524,548 
Deposits and other assets   48,615 
Goodwill   7,818,805 
Intangible assets   7,375,476 
Total Assets  $16,040,632 
Liabilities     
Accounts payable and accrued liabilities  $493,278 
Deferred revenue   190,850 
Note payable   235,158 
Operating lease payable   507,910 
Intercompany payable, net   896,380 
Total Liabilities   2,323,576 
Net assets of the Disposal Group  $13,717,056 
  
Schedule of Loss Recognized on the Divestiture

The loss recognized on the divestiture was calculated as follows:

 

Fair Value of Consideration Received  $11,676,828 
Carrying value of net assets of the Disposal Group   (13,717,056)
Noncontrolling interest derecognized   1,953,772 
Intercompany balances waived   (796,384)
Transaction costs   (30,000)
Loss on sale of subsidiaries, before income taxes  $(912,840)
  
Schedule of Carrying Value of Noncontrolling Interest The carrying value of the noncontrolling interest at the closing date was determined as follows:
Noncontrolling interest at inception (19.98% of Fly Flyte)  $2,885,097 
Loss attributable to noncontrolling interest through December 31, 2025   (756,776)
Loss attributable to noncontrolling interest, January 1, 2026 through March 9, 2026   (174,549)
Noncontrolling interest at March 9, 2026  $1,953,772 
  
Schedule of Pro Forma Combined Results of Operations   The following pro forma information presents the combined results of operations as if the acquisitions had occurred on January 1, 2024.
   As of
December 31,
2025		   As of
December 31,
2024		 
Current Assets   846,339    115,323 
Non-Current Assets   17,295,608    5,983,135 
Total Assets  $18,141,947   $6,098,458 
           
Current Liabilities   8,760,728    18,787,002 
Non-Current Liabilities   308,510    3,551,643 
Total Liabilities  $9,069,238   $22,338,645 
           
Mezzanine Equity   84,790    84,790 
Total Stockholders’ Equity (Deficit)  $8,987,919   $(16,324,977)

 

   For the
Year Ended
December 31,
2025		   For the
Year Ended
December 31,
2024		 
Revenue  $3,366,411   $3,946,445 
Cost of Revenue   2,011,384    2,201,900 
Gross Profit   1,355,027    1,744,545 
           
Operating Expenses   14,456,452    17,141,229 
Other income (expenses), net   3,208,409    6,868,878 
Net Loss  $(9,893,016)  $(8,527,806)