v3.26.1
Segment Reporting (Tables)
 9 Months Ended
Jan. 31, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information

 

   CEA Industry Segment (Successor)  

BNB Treasury

Management

Segment

   Corporate   Total Consolidated 
   Three Months Ended January 31, 2026 
   Retail and Industry
Segment
(Successor)		  

BNB Treasury

Management
Segment

   Corporate  

Total

Consolidated

 
Total revenue, net  $7,334,626   $-   $-   $7,334,626 
Cost of revenue   (5,571,329)   -    -    (5,571,329)
Unrealized loss on digital asset   -    (159,791,308)   -    (159,791,308)
Other income from airdrop   -    1,265,452    -    1,265,452 
Advertising and marketing expenses   (63,506)   -    (220,860)   (284,366)
Compensation expenses   (1,394,344)   (175,000)   (312,781)   (1,882,125)
Asset management fees   -    (2,013,579)   -    (2,013,579)
Professional and contractor fees   (66,004)   (17,070)   (4,815,254)   (4,898,328)
Stock-based compensation   2,310,559    -    2,329,679    4,640,238 
Other segment expenses (1)   (673,406)   (380,724)   (789,732)   (1,843,863)
Gain from change in fair value of warrant liabilities   -    -    38,061,767    38,061,767 
Interest expense and other income, net   18,462    -    -    18,462 
Income (loss) from operations before provision for income tax  $1,895,058   $(161,112,229)  $34,252,818   $(124,964,353)
Total Assets   17,429,893    409,179,888    10,163,794    436,773,575 

 

 

   CEA Industry Segment (Predecessor)  

BNB Treasury

Management

Segment

   Corporate   Total Consolidated 
   Three Months Ended January 31, 2025 
   Retail and Industry
Segment
(Predecessor)		  

BNB Treasury

Management

Segment

   Corporate   Total Consolidated 
Total revenue, net  $6,908,817   $        -   $       -   $6,908,817 
Cost of revenue   (5,146,901)   -    -    (5,146,901)
Advertising and marketing expenses   (191,531)   -    -    (191,531)
Compensation expenses   111,714    -    -    111,714 
Professional and contractor fees   (157,496)   -    -    (157,496)
Other segment expenses (1)   (566,949)   -    -    (566,949)
Income (loss) from operations before provision for income tax  $957,654   $-   $-   $957,654 
Total Assets   8,342,878    -    -    8,342,878 

 

   CEA Industry Segment (Successor)  

BNB Treasury

Management

Segment

   Corporate   Total Consolidated  

CEA Industry

Segment
(Predecessor) (2)

 
   Period from June 7, 2025 to January 31, 2026   Period from May 1, 2025 to June 6, 2025 
   Retail and Industry
Segment
(Successor)		  

BNB Treasury

Management

Segment

   Corporate   Total Consolidated  

CEA Industry

Segment
(Predecessor)		 
Total revenue, net  $19,055,752   $-   $-   $19,055,752   $2,927,689 
Cost of revenue   (13,827,593)   -    -    (13,827,593)   (2,001,537)
Unrealized loss on digital asset   -    (45,757,590)   -    (45,757,590)   - 
Other income from airdrop   -    7,093,030    -    7,093,030    - 
Advertising and marketing expenses   (228,930)   -    (4,782,023)   (5,010,953)   (63,202)
Compensation expenses   (3,484,911)   (245,000)   (401,685)   (4,131,596)   (431,340)
Asset management fees   -    (3,811,936)   -    (3,811,936)   - 
Professional and contractor fees   (2,302,395)   (224,925)   (5,417,556)   (7,944,876)   (135,359)
Stock-based compensation   (33,572)   -    (26,648)   (60,220)   - 
Other segment expenses (1)   (2,081,302)   (382,004)   (16,187,254)   (18,650,560)   (275,650)
Gain from change in fair value of warrant liabilities   -    -    244,879,854    244,879,854    - 
Interest expense and other income, net   (902,830)   -    -    (902,830)   - 
Income (loss) from operations before provision for income tax  $(3,805,781)  $(43,328,425)  $218,064,688   $170,930,482   $20,602 

 

   CEA Industry Segment (Predecessor)  

BNB Treasury

Management

Segment

   Corporate   Total Consolidated 
   Nine Months Ended January 31, 2025 
   Retail and Industry
Segment
(Predecessor)		  

BNB Treasury

Management

Segment

   Corporate   Total Consolidated 
Total revenue, net  $21,313,671   $            -   $          -   $21,313,671 
Cost of revenue   (13,824,712)   -    -    (13,824,712)
Advertising and marketing expenses   (490,008)   -    -    (490,008)
Compensation expenses   (2,440,943)   -    -    (2,440,943)
Professional and contractor fees   (436,684)   -    -    (436,684)
Other segment expenses (1)   (1,921,130)   -    -    (1,921,130)
Income (loss) from operations before provision for income tax  $2,200,194   $-   $-   $2,200,194 

 

(1)Includes other selling, general, and administrative expenses such as occupancy expenses, maintenance expenses, utilities, depreciation and amortization expenses. Starting in the second quarter of 2026, other segment items also include warrant issuance costs, insurance fees and advisory fees.