v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Adjustments to reconcile net loss to net cash provided by operating activities:    
Bad debt expense $ 1,233,099 $ 0
Amortization, deferred financing cost 238,886 48,913
Gain on debt extinguishment (233,022) 0
Contingent Consideration, change in Fair Value (24) 0
Fair Value Adjustment of Warrants (1,484,931) 0
Loss on Financing Transaction 11,613,736 0
Shares issued for services 0 326,400
Depreciation and amortization expense 4,332,094 1,236,389
Right-of-use asset amortization 693,132 453,530
Share-based compensation 3,830,985 6,039,973
Changes in operating assets and liabilities:    
Accounts receivable (14,539,015) 17,967,783
Increase/(Decrease) in Contract Assets 4,746,966 0
Unbilled accounts receivable (2,436,909) (407,456)
Prepaid expenses and other current assets 984,836 (1,434,026)
Due from related parties (418,885) 0
Other assets (3,607,697) 22,435
Accounts payable 1,934,272 (130,588)
Due to related parties 406,495 (711,825)
Income taxes payable (190,666) 0
Accrued expenses and other current liabilities 14,442,114 2,354,130
Operating lease liability (612,849) (452,783)
Net cash provided by (used in) operating activities (9,886,791) 14,568,690
Cash flows from investing activities    
Purchase of property and equipment (40,578) (12,079)
Net cash (used in) investing activities (40,578) (12,079)
Cash flows from financing activities    
Borrowings on revolving line of credit 106,226,864 107,630,000
Payments on revolving line of credit (110,409,271) (121,399,275)
Payments on notes payable (1,375,000) 0
Borrowings on factoring debt 3,000,000 0
Payments on factoring debt (1,385,289) 0
Proceeds from issuance of preferred stock and warrants, net of issuance costs 5,543,739 0
Cash Acquired From Acquisitions, Financing Activities 33,642,710 0
Debt issuance costs payment (30,000) 0
Finance lease repayments (117,479) 0
Net cash (used in) provided by financing activities 35,096,274 (13,769,275)
Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation (1,150,510) 0
Net increase in cash and cash equivalents 24,018,395 787,336
Cash and Cash Equivalents – Beginning of period 81,134 678,676
Cash and Cash Equivalents – End of period 24,099,529 1,466,012
Cash paid during the period for:    
Interest 3,509,168 2,306,490
Non-cash investing and financing activities:    
Settlement shares issued to legacy stockholders 0 2,359,271
Noncash Business Combination, Stock Issued 48,312,030 0
Contingent consideration arrangement issued as partial consideration for a business 2,098,574 0
Fair value of convertible note issued as partial consideration for a business 205,706,131 0
Fair value of common shares issued to designee of the Circle8 Seller as partial consideration for a business 15,440,000 0
Increase (Decrease) in Other Operating Liabilities (130,284) 0
Additional Shares, Value 5,600,000 0
Business Combination, Transaction Cost, Excluding Separately Recognized Transaction 991,313 0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ (30,689,124) $ (10,744,185)