| Schedule of Balance Sheet Discontinued Operation |
The
following table presents the major classes of assets and liabilities of the discontinued operations as of December 31, 2025:
| Assets: | |
| |
| Cash | |
$ | 25,671 | |
| Accounts receivable, net | |
| 1,530 | |
| Prepaid expenses and other current assets | |
| 74,492 | |
| Property and equipment, net | |
| 176,866 | |
| Operating lease right-of-use asset, net | |
| 586,310 | |
| Goodwill | |
| 7,818,805 | |
| Intangible assets, net | |
| 7,457,961 | |
| Deposits and other assets | |
| 48,615 | |
| Total assets of discontinued operations | |
$ | 16,190,250 | |
| | |
| | |
| Liabilities: | |
| | |
| Accounts payable and accrued liabilities | |
$ | 339,074 | |
| Deferred revenue | |
| 166,517 | |
| Notes payable, net of debt discount and issuance costs | |
| 419,056 | |
| Operating lease payable | |
| 567,423 | |
| Total liabilities of discontinued operations | |
$ | 1,492,070 | |
|
The
following tables present certain financial information related to our reportable segments and Corporate:
| | |
As of December 31, 2025 | |
| | |
Vocal | | |
OG | | |
Flyte | | |
Creatd | | |
Total | |
| Cash | |
$ | 124,536 | | |
$ | 5,772 | | |
$ | 25,671 | | |
$ | 91,434 | | |
$ | 247,413 | |
| Accounts
receivable,Net | |
| - | | |
| - | | |
| 1,530 | | |
| 10,000 | | |
| 11,530 | |
| Prepaid
expenses and other current assets | |
| 93,731 | | |
| - | | |
| 74,492 | | |
| 167,190 | | |
| 335,413 | |
| Deposits
and other assets | |
| - | | |
| - | | |
| 48,615 | | |
| - | | |
| 48,615 | |
| Intangible
Assets, net | |
| - | | |
| - | | |
| - | | |
| 7,486,004 | | |
| 7,486,004 | |
| Goodwill | |
| - | | |
| - | | |
| - | | |
| 7,818,805 | | |
| 7,818,805 | |
| All
other assets | |
| - | | |
| - | | |
| 763,176 | | |
| 1,430,991 | | |
| 2,194,167 | |
| Total
Assets | |
$ | 218,267 | | |
$ | 5,772 | | |
$ | 913,484 | | |
$ | 17,004,424 | | |
$ | 18,141,947 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Accounts
payable and accrued liabilities | |
$ | 399,864 | | |
$ | 250 | | |
$ | 339,074 | | |
$ | 4,885,650 | | |
$ | 5,624,838 | |
| Note
payable, net of debt discount and issuance costs | |
| 66,228 | | |
| 4,398 | | |
| 539,104 | | |
| (69,544 | ) | |
| 540,186 | |
| Deferred
revenue | |
| 118,862 | | |
| - | | |
| 166,517 | | |
| - | | |
| 285,379 | |
| Convertible
Notes, net of debt discount and issuance costs | |
| - | | |
| - | | |
| - | | |
| 383,374 | | |
| 383,374 | |
| All
other liabilities | |
| - | | |
| - | | |
| 567,423 | | |
| 1,668,038 | | |
| 2,235,461 | |
| Total
Liabilities | |
$ | 584,954 | | |
$ | 4,648 | | |
$ | 1,612,118 | | |
$ | 6,867,518 | | |
$ | 9,069,238 | |
| | |
As
of December, 31 2024 | |
| | |
Vocal | | |
OG
Collection | | |
Air
Mobility | | |
Corporate | | |
Total | |
| Cash | |
$ | 5,152 | | |
$ | 1,319 | | |
$ | - | | |
$ | 9,019 | | |
$ | 15,490 | |
| Accounts
receivable,Net | |
| - | | |
| - | | |
| - | | |
| 2,000 | | |
| 2,000 | |
| Deposits
and other assets | |
| - | | |
| - | | |
| - | | |
| 83,616 | | |
| 83,616 | |
| Intangible
assets, net | |
| - | | |
| - | | |
| - | | |
| 103,550 | | |
| 103,550 | |
| Goodwill | |
| - | | |
| - | | |
| - | | |
| 5,415 | | |
| 5,415 | |
| All
other assets | |
| - | | |
| - | | |
| - | | |
| 2,052,278 | | |
| 2,052,278 | |
| Total
Assets | |
$ | 5,152 | | |
$ | 1,319 | | |
$ | - | | |
$ | 2,255,878 | | |
$ | 2,262,349 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Accounts
payable and accrued liabilities | |
$ | 507,374 | | |
$ | 17,447 | | |
$ | - | | |
$ | 7,925,983 | | |
$ | 8,450,804 | |
| Note
payable, net of debt discount and issuance costs | |
| 88,695 | | |
| - | | |
| - | | |
| 859,304 | | |
| 947,999 | |
| Deferred
revenue | |
| 146,950 | | |
| - | | |
| - | | |
| - | | |
| 146,950 | |
| Convertible
Notes, net of debt discount and issuance costs | |
| - | | |
| - | | |
| - | | |
$ | 1,216,158 | | |
| 1,216,158 | |
| All
other Liabilities | |
| - | | |
| - | | |
| - | | |
| 1,798,758 | | |
| 1,798,758 | |
| Total
Liabilities | |
$ | 743,019 | | |
$ | 17,447 | | |
$ | - | | |
$ | 11,800,203 | | |
$ | 12,560,669 | |
|
| Schedule of Operating Lease |
Operating
right-of-use assets are summarized below.
| | |
As of March 31, 2026 | | |
As of March 9, 2026 | | |
As of December 31, 2025 | |
| Office and Plane Leases | |
$ | — | | |
$ | 752,101 | | |
$ | 725,501 | |
| Less accumulated amortization | |
| — | | |
| (227,553 | ) | |
| (139,191 | ) |
| Right-of-use asset, net | |
$ | — | | |
$ | 524,548 | | |
$ | 586,310 | |
Operating
lease liabilities are summarized below
| | |
As of March 31, 2026 | | |
As of March 9, 2026 | | |
As of December 31, 2025 | |
| Office and Plane Leases | |
$ | — | | |
$ | 507,910 | | |
$ | 567,423 | |
| Less: current portion | |
| — | | |
| (337,667 | ) | |
| (331,137 | ) |
| Long term portion | |
$ | — | | |
$ | 170,243 | | |
$ | 236,286 | |
The components of the lease
expense were as follows:
| | |
Three Months Ended March 31, 2026 | | |
Three Months Ended March 31, 2025 | |
| Operating lease cost | |
$ | 67,077 | | |
$ | 18,519 | |
| Short term lease cost | |
| - | | |
| - | |
| Total net lease cost | |
$ | 67,077 | | |
$ | 18,519 | |
|
Operating
right-of-use assets are summarized below.
| | |
As
of December 31, 2025 | | |
As
of December 31, 2024 | |
| Office and
Plane Leases | |
$ | 725,501 | | |
$ | 2,243,971 | |
| Less
accumulated amortization | |
| (139,191 | ) | |
| (610,764 | ) |
| Right-of-use
asset, net | |
$ | 586,310 | | |
$ | 1,633,207 | |
Operating
lease liabilities are summarized below
| | |
Year
Ended December 31, 2025 | | |
Year
Ended December 31, 2024 | |
| Office and
Plane Leases | |
$ | 567,423 | | |
$ | 1,822,053 | |
| Less:
current portion | |
| 331,137 | | |
| (547,439 | ) |
| Long
term portion | |
$ | 236,286 | | |
$ | 1,274,614 | |
The
components of the lease expense were as follows:
| | |
Year
Ended December 31, 2025 | | |
Year
Ended
December 31, 2024 | |
| Operating lease
cost | |
$ | 162,862 | | |
$ | 488,047 | |
| Short
term lease cost | |
| 108,800 | | |
| - | |
| Total
lease cost | |
$ | 271,662 | | |
$ | 488,047 | |
Supplemental
cash flow and other information related to leases was as follows:
| | | Year Ended December 31, 2025 | | | Year Ended December 31, 2024 | | | Cash paid for amounts included in the measurement of lease liabilities: | | | | | | | | Operating lease payments | | $ | 162,862 | | | $ | 323,292 | | | Weighted average remaining lease term (in years): | | | 1.69 | | | | 6.25 | | | Weighted average discount rate: | | | 6.25 | % | | | 12.50 | % |
|