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NV 27-3911608 385 South Pierce Avenue Suite C Louisville CO 80027 (303) 993-5271 Common Stock, $0.00001 par value BNC NASDAQ Warrants to purchase common stock BNCW NASDAQ Non-accelerated Filer true false false 44062938 Introduction  This Amendment No. 1 on Form 10-Q/A (this “Amendment”) amends the Quarterly Report on Form 10-Q of the Company for the three months ended October 31, 2025 and the period from June 7, 2025 through October 31, 2025 (the “Successor period”) and the period from May 1, 2025 through June 6, 2025 (the “Predecessor period”), originally filed with the Securities and Exchange Commission (the “SEC”) on December 15, 2025 (the “Original Filing”). On June 11, 2026, the Company’s management, with the concurrence of the Audit Committee of the Board of Directors, concluded that the previously issued condensed consolidated financial statements included in the Original Filing should no longer be relied upon due to an error in the calculation of the weighted-average number of shares outstanding used in determining basic and diluted earnings per share (“EPS”).   Impact of the Restatement   The error affects only the EPS denominator (weighted-average shares); it has no effect on net income, total assets, total liabilities, stockholders’ equity, revenue, or cash flows, and net income (loss) available to common stockholders is unchanged in each affected period. The error resulted in an understatement of basic and diluted weighted-average shares outstanding, which in turn overstated both basic and diluted EPS for the three months ended October 31, 2025 and the Successor period from June 7 through October 31, 2025.   The error resulted in an understatement of basic and diluted weighted average number of shares outstanding, which in turn overstated basic and diluted EPS for the affected periods as follows:   Three months ended October 31, 2025:   ●Basic and diluted weighted average number of shares understated by 2,214,508 shares ●Basic and diluted EPS overstated by $0.21   Successor period from June 7 through October 31, 2025:   ●Basic weighted average number of shares understated by 1,857,056 shares ●Diluted weighted average number of shares understated by 857,057 shares ●Basic and diluted EPS overstated by $0.45   Amended Items   In accordance with Rule 12b-15 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the following Items of the Original Filing have been partially amended and the complete text of those Items, as originally filed and as amended herein, is set out in this Amendment:   Part I - Item 1. Financial Statements (Unaudited), including the Condensed Consolidated Statements of Operations and Comprehensive Income and the Notes to Condensed Consolidated Financial Statements   Part II - Item 6. Exhibits   The error affected the Condensed Consolidated Statements of Operations and Comprehensive Income and the Earnings Per Share note within the Notes to Condensed Consolidated Financial Statements.   Restatement and Correction   The Company evaluated the error in accordance with SEC Staff Accounting Bulletin No. 99, Materiality, and concluded that the error is material to the previously issued condensed consolidated financial statements because it affects a separately presented, required primary metric central to investor valuation, is precisely measurable, overstated favorable per-share performance, and arose from a systemic methodology error. When previously issued condensed consolidated financial statements are determined to be materially misstated, they are corrected by restatement. Accordingly, the Company has revised the affected condensed consolidated financial statements and related disclosures to reflect the correction of basic and diluted weighted-average shares outstanding and basic and diluted EPS.   Internal Control Considerations   As disclosed in the Original Filing, management had previously concluded that the Company’s disclosure controls and procedures were not effective as of October 31, 2025 due to a material weakness in internal control over financial reporting. The error reported in this Amendment relates to the existing material weakness. Management is continuing to implement remediation measures.   Successor Predecessor 32535255 2148606 20879068 83680 228507 668301 668301 233274 3488357 3293947 873408 119012 58093042 6458373 272172 322880 4032316 547108026 208992 208992 4908861 228887 217379 154951 1821417 1890013 558371679 2585223 616464721 9043596 5505055 2255445 739643 3973720 356900 356900 105476 671520 528914 18051 11246838 2907886 1187373 1374639 19623329 727922 657095 98132639 120328358 1374639 131575196 4282525 Successor 0.00001 0.00001 200000000 200000000 45321002 45321002 454 1410 1410 401 248946201 235992420 4837746 -49550 -77076 484889525 4761071 616464721 9043596 Successor Predecessor Successor Predecessor Predecessor 7143485 7436751 11720973 2927689 14405418 5050228 4591637 8256041 2001537 8652017 2093257 2845114 3464932 926152 5753401 4655063 184013 4726687 63202 297205 114033718 114033718 21666564 2284433 28604021 842348 4215452 -87712091 2468446 -80703010 905550 4512657 89805348 376668 84167942 20602 1240744 5827578 5827578 206818087 206818087 392228 664257 -254515 -254513 211998922 211726895 301804270 376668 295894837 20602 1240744 18161497 85051 18100461 1589 240704 283642773 291617 277794376 19013 1000040 -2686 -21447 -49550 34825 10784 283640087 270170 277744826 53838 1010824 5.18 206.82 8.02 13.48 709.25 5.15 206.82 7.98 13.48 709.25 54801438 1410 34637698 1410 1410 55116433 1410 34817306 1410 1410 Successor 860457 9 54597106 -47650353 -46864 6899898 9308741 41754478 418 185775901 185776319 856275 8 12928313 12928321 2376302 24 24 529170 5 4385566 4385571 3799 3799 2660 26648 26648 -2686 -2686 283642773 283642773 45321002 454 248946201 235992420 -49550 484889525 802346 8 49613146 -41801956 7811198 4189 33226 33226 7854 7854 2329698 2329698 2329679 2329679 39000 1 313950 313951 9308741 41754478 418 185775901 185776319 856275 8 12928313 12928321 856275 8 12928313 12928321 2393884 24 24 529170 5 4385566 4385571 -49550 -49550 277794376 277794376 45321002 454 248946201 235992420 -49550 484889525 Predecessor 1410 401 4837746 -77076 4761071 34825 34825 19013 19013 1410 401 4856759 -42251 4814909 Predecessor 1410 401 4976240 -43926 4932715 -21447 -21447 291617 291617 1410 401 5267857 -65373 5202885 Predecessor 1410 401 4267817 -76157 4192061 10784 10784 1000040 1000040 1000040 1000040 1410 401 5267857 -65373 5202885 Predecessor Predecessor 277794376 19013 1000040 257168 13258 50307 4700457 94826 5827578 114033718 206818087 -581 27406 -48925 -53226 -524 -295014 1589 -129283 -112365 362569 586407 -992638 -6632 16426 212505 35336 50103 3319 256 59343 273558 -5183 -17731 1054 18395475 -142667 -24114556 -238442 267803 10325769 174900038 9314 19749 -185235121 -19749 3910282 226837431 -9308741 24 12928330 4000000 230367326 21017649 -238442 248054 70195 13620 -27424 11447411 2148606 32535255 1923784 220630 313950 356900 1245768 273198354 -273198354 -385572 <p id="xdx_80D_eus-gaap--ErrorCorrectionTextBlock_zb70XOCsbmGe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="JA_001"></span>Note 1 – <span id="xdx_821_zSbSiPACXdye">Restatement of Previously Issued Financial Statements and Nature of Operations</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent to the issuance of the Company’s previously filed unaudited condensed consolidated financial statements for the three months ended October 31, 2025 and the Successor period, the Company identified an error in the calculation of the basic and diluted weighted-average number of shares outstanding used to determine basic and diluted EPS. The error understated the basic and diluted weighted-average number of shares outstanding and, as a result, overstated basic and diluted EPS for the affected periods. Management identified the error in connection with the preparation of the Company’s Annual Report on Form 10-K for the fiscal year ending April 30, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The restatement impacts only the basic and diluted weighted-average number of shares outstanding and basic and diluted EPS. The restatement had no impact on revenues, expenses, net income (loss), income before income taxes, total assets, total liabilities, stockholders’ equity, retained earnings or other components of equity, cash flows, or shares of common stock outstanding at period end. Net income (loss) available to common stockholders is unchanged for each affected period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the effect of the restatement on the per-share data and weighted-average shares outstanding in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income for the three months ended October 31, 2025 and the successor period from June 7, 2025 through October 31, 2025. The amounts presented represent the (overstatement)/understatement of the previously reported figures: </span></p> <p id="xdx_895_eus-gaap--ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock_gL3SOECAPPATB-CAY_zZNggt3eaIec" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_z7T9FTNaem3j" style="display: none">Schedule of Restatement</span></span></p> <table cellpadding="0" cellspacing="0" id="xdx_30E_134_zUA77K0ivVVf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Restatement on Per-share Data and Weighted Average Shares Outstanding (Details)"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"> </td> <td colspan="2" id="xdx_498_20250801__20251031__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zghevXuKhxB3" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBTdGF0ZW1lbnRzIG9mIE9wZXJhdGlvbnMgYW5kIENvbXByZWhlbnNpdmUgSW5jb21lIChVbmF1ZGl0ZWQpAA__" id="xdx_90C_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250801__20251031_zEfP9jbMy8ll">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"> </td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"> </td> <td colspan="2" id="xdx_492_20250607__20251031__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zKW2i2Z7j5Ae" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBCYWxhbmNlIFNoZWV0cyAoVW5hdWRpdGVkKQA_" id="xdx_90F_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250607__20251031_zC6ZNitFWhll">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Three Months</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Period from June 7</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">through</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">(Overstatement)/Understatement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareBasic_i01_zNZXZnZZ1kAc" style="vertical-align: bottom; background-color: White"> <td style="width: 60%">Basic Net Income per share</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(0.21</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(0.45</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--EarningsPerShareDiluted_i01_ziHzyImvdxFf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Diluted Net Income per share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.45</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i01_zXNJU5z8d8Zc" style="vertical-align: bottom; background-color: White"> <td>Basic weighted average number of common shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,214,508</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,857,056</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_i01_zkuK5uTedEo3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Diluted weighted average number of common shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,214,508</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">857,057</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A7_zc1VOW3wWJMf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The restatement impacted the Condensed Consolidated Statements of Operations and Comprehensive Income and the Earnings per Share note within the Notes to Condensed Consolidated Financial Statements. No other financial statement items were affected.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accordingly, the Company has restated the previously issued financial statements for the periods presented to correct the errors described above. Management believes the restated financial statements present fairly, in all material respects, the Company’s financial position and results of operations for the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the impact of the restatement on the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income for the three months ended October 31, 2025 and the successor period from June 7, 2025 through October 31, 2025, presented as a bridge from the amounts as previously reported to the restatement adjustment and the amounts as restated.</span></p> <div id="xdx_C0F_gL3SOECAPPATB-CAY_zZFC18hNgz4k"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Condensed Consolidated Statement of Operations (Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="display: none"></span></b></span></p> <table cellpadding="0" cellspacing="0" id="xdx_303_134_zDGWR8BiQ1aa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Condensed Consolidated Statement of Operations (Details)"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_49D_20250801__20251031__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zXqOmi3o68k7" style="text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBTdGF0ZW1lbnRzIG9mIE9wZXJhdGlvbnMgYW5kIENvbXByZWhlbnNpdmUgSW5jb21lIChVbmF1ZGl0ZWQpAA__" id="xdx_900_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250801__20251031_zSRTXxvkarKb">Successor</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_498_20250801__20251031__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zWDyw0GaaLAg" style="text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBTdGF0ZW1lbnRzIG9mIE9wZXJhdGlvbnMgYW5kIENvbXByZWhlbnNpdmUgSW5jb21lIChVbmF1ZGl0ZWQpAA__" id="xdx_901_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250801__20251031_zpT1AuVAbhN8">Successor</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_49D_20250801__20251031_zwOviigB9MN2" style="text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBTdGF0ZW1lbnRzIG9mIE9wZXJhdGlvbnMgYW5kIENvbXByZWhlbnNpdmUgSW5jb21lIChVbmF1ZGl0ZWQpAA__" id="xdx_903_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250801__20251031_zPqz6bA1w3ba">Successor</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_49B_20250607__20251031__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zAWfKNSnqL4k" style="text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBCYWxhbmNlIFNoZWV0cyAoVW5hdWRpdGVkKQA_" id="xdx_904_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250607__20251031_zBe4cBElz9P7">Successor</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_496_20250607__20251031__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zDsqxAdGIVbd" style="text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBCYWxhbmNlIFNoZWV0cyAoVW5hdWRpdGVkKQA_" id="xdx_903_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250607__20251031_zdDnlYqxsu3f">Successor</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_495_20250607__20251031_zn7oP3ug1lD1" style="text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBCYWxhbmNlIFNoZWV0cyAoVW5hdWRpdGVkKQA_" id="xdx_90E_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250607__20251031_zOLAHrLT1qwj">Successor</span></td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="22" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from June 7 through October 31, 2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement Adjustments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement Adjustments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLoss_mtCz0vv_maOCILBzXNU_zFVPSnaMFXsj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net income (loss)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 6%; text-align: right">283,642,773</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 6%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0889">-</span></td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 6%; text-align: right">283,642,773</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 6%; text-align: right">277,794,376</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 6%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0892">-</span></td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 6%; text-align: right">277,794,376</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--EarningsPerShareAbstract_iB_zttmgMa7Iazl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Net income per share of common stock attributable to common stockholders</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareBasic_i01_zujSMu73mme1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Basic</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5.39</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.21</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5.18</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8.47</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.45</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8.02</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--EarningsPerShareDiluted_i01_zG88fJalhNW9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5.36</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.21</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5.15</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8.43</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.45</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7.98</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--WeightedAverageNumberOfSharesOutstandingAbstract_iB_zMqYMvtgW4K8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Weighted average number of common shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i01_zW1jGruhfx4g" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Basic</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">52,586,930</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,214,508</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">54,801,438</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">32,780,642</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,857,056</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">34,637,698</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_i01_z5UrfhsJBl4f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">52,901,925</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,214,508</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">55,116,433</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">33,960,249</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">857,057</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">34,817,306</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> </div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_C01_gL3SOECAPPATB-CAY_zO9NBhoV2Rm"> </span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span>Nature of Operations</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Description of Business</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CEA Industries Inc. (the “Company”) was incorporated under the laws of the State of Nevada on October 14, 2009, and is headquartered in Louisville, Colorado. Historically, the Company operated a portfolio of consumer and commercial businesses, including climate control systems for controlled environment agriculture and retail operations in the vaping industry.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In August 2025, the Company initiated a strategic transformation by adopting a digital asset treasury strategy focused exclusively on Binance Coin (“BNB”), the native token of the BNB Chain blockchain. Through its wholly owned subsidiary, BNC BNB Cayman, the Company seeks to build and manage the largest corporate treasury of BNB, providing institutional-grade exposure to blockchain infrastructure and decentralized finance (DeFi).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s treasury operations include acquiring and holding BNB on its condensed consolidated balance sheet and generating income through activities such as validation services, lending, and other DeFi protocols. This strategy commenced on August 5, 2025, following the closing of a private placement that raised approximately $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn6n6_c20250728__20250728__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zpp8m8JMjmVk" title="Proceeds from issuance of private placement">500</span> million, with up to $<span id="xdx_90C_ecustom--AdditionalProceedsFromWarrantExercises_pn6n6_c20250728__20250728__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_ztcC3QmlN96f" title="Additional proceeds from warrant exercises">750</span> million in additional proceeds available through warrant exercises. This capital raise supports the implementation of the Company’s BNB-focused Digital Asset Treasury (“DAT”) strategy, under which BNB serves as the primary treasury reserve asset.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To support this strategy, the Company established CEA BRS LLC, a Delaware limited liability company, as a special purpose entity to hold and manage certain cryptocurrency assets in accordance with the DAT strategy. Additionally, the Company formed BNC BNB Cayman, an exempted company organized under the laws of the Cayman Islands, to facilitate international operations and treasury management. These entities are wholly owned subsidiaries of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with this strategic shift, the Company changed its Nasdaq ticker symbol from “VAPE” to “BNC” on August 6, 2025, reflecting its new identity as the BNB Network Company while continuing its core business operations. The Company continues to operate its legacy business, and beginning in the second fiscal quarter ending October 31, 2025, its financial results also reflect the build-out of its digital asset treasury platform.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally, on June 6, 2025, the Company completed the acquisition of Fat Panda Ltd. and related entities (“Fat Panda”), entering the Canadian nicotine vape industry. This acquisition aligns with the Company’s strategy to focus on high-growth, regulated consumer markets and provides a vertically integrated infrastructure to support retail expansion and e-commerce capabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock_gL3SOECAPPATB-CAY_zZNggt3eaIec" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_z7T9FTNaem3j" style="display: none">Schedule of Restatement</span></span></p> <table cellpadding="0" cellspacing="0" id="xdx_30E_134_zUA77K0ivVVf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Restatement on Per-share Data and Weighted Average Shares Outstanding (Details)"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"> </td> <td colspan="2" id="xdx_498_20250801__20251031__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zghevXuKhxB3" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBTdGF0ZW1lbnRzIG9mIE9wZXJhdGlvbnMgYW5kIENvbXByZWhlbnNpdmUgSW5jb21lIChVbmF1ZGl0ZWQpAA__" id="xdx_90C_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250801__20251031_zEfP9jbMy8ll">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"> </td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"> </td> <td colspan="2" id="xdx_492_20250607__20251031__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zKW2i2Z7j5Ae" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBCYWxhbmNlIFNoZWV0cyAoVW5hdWRpdGVkKQA_" id="xdx_90F_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250607__20251031_zC6ZNitFWhll">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold; font-style: italic"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Three Months</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Period from June 7</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">through</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">(Overstatement)/Understatement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareBasic_i01_zNZXZnZZ1kAc" style="vertical-align: bottom; background-color: White"> <td style="width: 60%">Basic Net Income per share</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(0.21</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(0.45</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--EarningsPerShareDiluted_i01_ziHzyImvdxFf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Diluted Net Income per share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.21</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.45</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i01_zXNJU5z8d8Zc" style="vertical-align: bottom; background-color: White"> <td>Basic weighted average number of common shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,214,508</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,857,056</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_i01_zkuK5uTedEo3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Diluted weighted average number of common shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,214,508</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">857,057</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Condensed Consolidated Statement of Operations (Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="display: none"></span></b></span></p> <table cellpadding="0" cellspacing="0" id="xdx_303_134_zDGWR8BiQ1aa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Schedule of Condensed Consolidated Statement of Operations (Details)"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_49D_20250801__20251031__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zXqOmi3o68k7" style="text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBTdGF0ZW1lbnRzIG9mIE9wZXJhdGlvbnMgYW5kIENvbXByZWhlbnNpdmUgSW5jb21lIChVbmF1ZGl0ZWQpAA__" id="xdx_900_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250801__20251031_zSRTXxvkarKb">Successor</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_498_20250801__20251031__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zWDyw0GaaLAg" style="text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBTdGF0ZW1lbnRzIG9mIE9wZXJhdGlvbnMgYW5kIENvbXByZWhlbnNpdmUgSW5jb21lIChVbmF1ZGl0ZWQpAA__" id="xdx_901_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250801__20251031_zpT1AuVAbhN8">Successor</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_49D_20250801__20251031_zwOviigB9MN2" style="text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBTdGF0ZW1lbnRzIG9mIE9wZXJhdGlvbnMgYW5kIENvbXByZWhlbnNpdmUgSW5jb21lIChVbmF1ZGl0ZWQpAA__" id="xdx_903_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250801__20251031_zPqz6bA1w3ba">Successor</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_49B_20250607__20251031__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zAWfKNSnqL4k" style="text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBCYWxhbmNlIFNoZWV0cyAoVW5hdWRpdGVkKQA_" id="xdx_904_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250607__20251031_zBe4cBElz9P7">Successor</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_496_20250607__20251031__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zDsqxAdGIVbd" style="text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBCYWxhbmNlIFNoZWV0cyAoVW5hdWRpdGVkKQA_" id="xdx_903_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250607__20251031_zdDnlYqxsu3f">Successor</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_495_20250607__20251031_zn7oP3ug1lD1" style="text-align: center"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uZGVuc2VkIENvbnNvbGlkYXRlZCBCYWxhbmNlIFNoZWV0cyAoVW5hdWRpdGVkKQA_" id="xdx_90E_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250607__20251031_zOLAHrLT1qwj">Successor</span></td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="22" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from June 7 through October 31, 2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement Adjustments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement Adjustments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLoss_mtCz0vv_maOCILBzXNU_zFVPSnaMFXsj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net income (loss)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 6%; text-align: right">283,642,773</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 6%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0889">-</span></td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 6%; text-align: right">283,642,773</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 6%; text-align: right">277,794,376</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 6%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0892">-</span></td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 6%; text-align: right">277,794,376</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--EarningsPerShareAbstract_iB_zttmgMa7Iazl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Net income per share of common stock attributable to common stockholders</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareBasic_i01_zujSMu73mme1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Basic</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5.39</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.21</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5.18</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8.47</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.45</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8.02</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--EarningsPerShareDiluted_i01_zG88fJalhNW9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5.36</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.21</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5.15</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8.43</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.45</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7.98</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--WeightedAverageNumberOfSharesOutstandingAbstract_iB_zMqYMvtgW4K8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Weighted average number of common shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i01_zW1jGruhfx4g" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Basic</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">52,586,930</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,214,508</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">54,801,438</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">32,780,642</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,857,056</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">34,637,698</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_i01_z5UrfhsJBl4f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">52,901,925</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,214,508</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">55,116,433</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">33,960,249</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">857,057</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">34,817,306</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>   Successor Successor -0.21 -0.45 -0.21 -0.45 2214508 1857056 2214508 857057 Successor Successor Successor Successor Successor Successor 283642773 283642773 277794376 277794376 5.39 -0.21 5.18 8.47 -0.45 8.02 5.36 -0.21 5.15 8.43 -0.45 7.98 52586930 2214508 54801438 32780642 1857056 34637698 52901925 2214508 55116433 33960249 857057 34817306 500000000 750000000 <p id="xdx_80C_eus-gaap--BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_zcBOMdPdsCJd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 2 – <span id="xdx_824_zdZE2bMi9H4i">Basis of Presentation and Significant Accounting Policies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84B_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zK5NlbkmRQv1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Basis of Presentation</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Pursuant to these rules and regulations, certain information and note disclosures, normally included in financial statements prepared in accordance with GAAP, have been condensed or omitted. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for a fair presentation have been included. Operating results for the six months ended October 31, 2025, are not necessarily indicative of the results that may be expected for the fiscal year ending April 30, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The balance sheet information as of April 30, 2025, has been derived from the audited financial statements at that date but does not include all the information and footnotes required by GAAP for complete financial statements. For further information, refer to the consolidated financial statements and notes thereto contained in the Transitional Annual Report on Form 10-KT for the four months ended April 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 6, 2025 (the “Acquisition Date”), CEA Industries Inc. completed its acquisition of the Fat Panda Group of Companies (“Fat Panda”) (the “Fat Panda Acquisition”). As described in <i>Note 4 – Business Combination</i>, CEA Industries Inc. has been identified as the accounting acquirer (the “Successor”) and Fat Panda as the accounting predecessor (the “Predecessor”) in accordance with the acquisition method of accounting under ASC 805, <i>Business Combinations</i>. As a result of this designation, the financial statements reflect a change in reporting entity. Financial information for periods prior to the Acquisition Date represents the historical operations of Fat Panda and is labelled as “Predecessor.” Financial information for periods beginning on and after the Acquisition Date reflects the operations of the combined entity under the control of CEA Industries Inc. and is labelled as “Successor” since CEA Industries Inc.’s operations prior to the acquisition were insignificant relative to those of Fat Panda. The merger was accounted for as a business combination using the acquisition method of accounting. The Successor financial statements reflect a new basis of accounting based on the fair value of the identifiable net assets acquired. Determining the fair value of certain assets and liabilities assumed involves significant judgment and the use of estimates and assumptions. See Business Combinations below for additional information on the fair values of assets and liabilities recorded in connection with the Fat Panda Acquisition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of applying the acquisition method of accounting as of the Acquisition Date, the accompanying consolidated financial statements include a black line division to distinguish between the Predecessor and Successor reporting entities. These entities are presented on different bases and are therefore not comparable. The lack of comparability is primarily due to the impacts of the Fat Panda Acquisition, including the remeasurement of acquired assets and assumed liabilities at fair value in the Successor consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_ecustom--DigitalAssetsPolicyTextBlock_zlZlCAG6W9yj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Digital Assets</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2023, the FASB issued ASU 2023-08, Digital Assets, which provides guidance on the recognition, measurement, presentation, and disclosure of digital assets through the creation of ASC 350-60 – Intangibles – Goodwill and Other – Crypto Assets. ASU 2023-08 became effective for all entities for fiscal years beginning after December 15, 2024. The standard became effective for the Company on May 1, 2025, and no cumulative-effect adjustment was required. The Company accounts for its digital assets, including BNB tokens, in accordance with ASC 350 – Intangibles – Goodwill and Other. The Company has determined its digital assets meet the scoping criteria of ASC 350-60, which requires eligible crypto assets to be measured at fair value, with changes in fair value recognized in net income. Fair value is determined in accordance with ASC 820 – Fair Value Measurement, using quoted prices in active markets. The Company has designated a principal market based on the market that the Company has access to and has the greatest volume and level of activity of BNB for determining the fair value of BNB tokens.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company deposits certain digital assets with third-party exchanges to facilitate trading activities. Assets held on these exchanges are not maintained in segregated wallets under the Company’s exclusive control and are pooled with assets of other customers. Due to the lack of sufficient regulatory oversight and the Company’s inability to prevent the exchange from using these assets for purposes other than those directed by the Company, the Company has concluded it does not have complete control over the deposited assets. Accordingly, such amounts are recorded as receivables from the exchange within current assets, rather than as digital assets on the condensed consolidated balance sheet, as the Company does not expect to hold these receivables for more than 12 months.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company holds BNB digital assets and periodically receives airdrops from blockchain projects within the Binance ecosystem. Airdrops are distributed randomly without consideration or contractual agreement; therefore, they do not meet the criteria for revenue recognition under ASC 606. The Company records the fair value of airdrops upon receipt and classifies the income as non-operating, presented within Other Income in the consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The activity from remeasurement of digital assets at fair value is reflected in the condensed consolidated statements of operations within unrealized gain/loss on digital assets. Realized gains and losses from the derecognition of digital assets would be included in the realized gain/loss on digital assets in the condensed consolidated statements of operations. Although the Company has not disposed of any digital assets during the reporting period, in the event there are disposals in the future, the Company will use the specific identification method to calculate the realized gains/losses on digital assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales and purchases of digital assets are reflected as cash flows from investing activities in the condensed consolidated statements of cash flows. Contributions of digital assets received as part of the consideration received (through PIPE offerings) are presented within supplemental information for non-cash investing and financing activities in the condensed consolidated statements of cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_z1KcmpPbWxbc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cash and Cash Equivalents </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All highly liquid investments with original maturities of three months or less at the date of purchase are considered to be cash equivalents.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash includes deposits held in financial institutions which are insured by the Canada Deposit Insurance Corporation (CDIC) which automatically insures eligible deposits separately up to $<span id="xdx_90E_ecustom--CashCDICInsuredAmount_iI_uCAD_c20250430_z77r7AXEk5B5" title="CDIC insured amount">100,000</span> Canadian dollars (“CAD”) per depositor, per insured bank, for each ownership category.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of October 31, 2025 (Successor), the Company had approximately $<span id="xdx_905_ecustom--CashCDICUninsuredAmount_iI_uCAD_c20251031_z934jUTrzQai" title="CDIC Uninsured amount">1,341,947</span> CAD in cash deposits in excess of the CDIC insurance limits at certain financial institutions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains deposits in U.S. financial institutions that exceed the federally insured amount of $<span id="xdx_90E_eus-gaap--CashFDICInsuredAmount_iI_c20251031_z1JAFde5nnxc">250,000</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. As of October 31, 2025 (Successor), the Company had approximately $<span id="xdx_905_eus-gaap--CashUninsuredAmount_iI_c20251031_zUkAFRkpnSWj">31,255,989</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in cash deposits in excess of the FDIC insurance limits at one financial institution. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company periodically monitors the financial condition of its financial institutions and considers strategies to mitigate credit risk exposure related to uninsured balances. The Company has not experienced any losses to date on depository accounts. The Company maintains its cash accounts with high credit quality financial institutions and therefore believes that its loss exposure is minimal.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zHOmNaz3RtPi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Fair value measurement</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for fair value measurements in accordance with ASC 820, Fair Value Measurement, which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company uses a three-level hierarchy to prioritize the inputs used in measuring fair value:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 – Quoted prices in active markets for identical assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 – Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets or other market-corroborated inputs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 – Unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All the Company’s BNB are held by BNC BNB Cayman, a wholly owned subsidiary organized under the laws of the Cayman Islands. The Company has designated a principal market for BNB based on the market that BNC BNB Cayman has access to and has the greatest volume and level of orderly transactions for BNB. The Company reassesses its principal market when facts and circumstances change, including but not limited to when new markets become accessible, or the volume/activity in the current principal market declines. Because BNB trades continuously across global markets, the Company applies a consistent valuation cut-off at midnight UTC on the reporting date to determine fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s digital assets are measured at fair value on a recurring basis using quoted prices in its principal market (Level 1 inputs) as of the reporting date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has elected the Fair Value Option for its USDC holdings to align with the treatment of its other digital assets. USDC is measured at fair value on a recurring basis using quoted prices in the Company’</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Stapled Warrants, issued in October 2025, are liability classified, and fair valued using a Monte-Carlo option model using Level 3 inputs. Information related to the Stapled Warrants is disclosed in Note 15 – Warrants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--EarningsPerSharePolicyTextBlock_zT8JLzR5Soba" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basic and Diluted Earnings (Loss) per Share</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260, “Earnings per Share” (“ASC 260”). Basic EPS is computed by dividing undistributed earnings attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted impact from potential common stock instruments is calculated using the treasury stock method, and if-converted method as applicable, unless the effect would be anti-dilutive.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eus-gaap--BusinessCombinationsPolicy_zt9kX4TsyLR5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Business Combinations</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For acquisitions meeting the definition of a business combination, the acquisition method of accounting is used. The consideration transferred for the acquired business is allocated to the assets acquired and liabilities assumed based on their fair values at the date of acquisition, including identifiable intangible assets. Any excess of the amount paid over the estimated fair values of the identifiable net assets acquired is allocated to goodwill. Acquisition-related costs, such as professional fees, are excluded from the consideration transferred and are expensed as incurred. The Company uses its best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. The Company’s estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions, tax-related valuation allowances and pre-acquisition contingencies are initially recorded in connection with a business combination as of the acquisition date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--GoodwillAndIntangibleAssetsGoodwillPolicy_zX615qu9LEW7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Goodwill</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill represents the excess of the purchase price for an acquisition over the fair value of the identifiable net assets acquired. Goodwill is not amortized but rather is reviewed annually for impairment, at the reporting unit level, or when there is evidence that events or changes in circumstances indicate that the Company’s carrying amount may not be recovered. When testing goodwill for impairment, the Company first performs an assessment of qualitative factors. If qualitative factors indicate that it is more likely than not that the fair value of the relevant reporting unit is less than its carrying amount, the Company tests goodwill for impairment at the reporting unit level using a two-step approach. In step one, the Company determines if the fair value of the reporting unit exceeds the unit’s carrying value. If step one indicates that the fair value of the reporting unit is less than its carrying value, the Company performs step two, determining the fair value of goodwill and, if the carrying value of goodwill exceeds its implied fair value, an impairment charge is recorded.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--GoodwillAndIntangibleAssetsIntangibleAssetsPolicy_zFvYmlydPKii" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Intangible assets</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has recognized two intangible assets: one with an indefinite useful life and one with a finite useful life. The indefinite-lived intangible asset, a trade name, is not subject to amortization. Instead, it is evaluated for impairment on an annual basis, or more frequently if events or changes in circumstances suggest that the asset may be impaired. The impairment assessment involves estimating the fair value of the trade name using discounted future cash flows and comparing it to its carrying amount. If the carrying amount exceeds the estimated fair value, an impairment charge is recorded for the difference.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The finite-lived intangible asset, also a trade name, is recorded at historical cost less accumulated amortization. Amortization is recognized on a straight-line basis over the asset’s estimated useful life of <span id="xdx_905_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20251031_zC29Bubggv44" title="Finite lived intangible asset useful life">10</span> years, which is determined based on the expected economic benefit and usage of the asset. This asset is reviewed for impairment whenever indicators of potential impairment arise. The evaluation compares the carrying value to the estimated future undiscounted cash flows expected to be generated by the asset. If the carrying value exceeds those cash flows, the asset is considered impaired, and the impairment loss is measured as the excess of the carrying amount over its fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Debt Discount and Debt Issuance costs</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt issuance costs related to notes payables liability are directly deducted from the carrying amount of the notes payables. These costs, along with debt discounts, are deferred and amortized over the term of the debt using the effective interest method.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zUTmok4hWIEc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Revenue recognition</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for revenue in accordance with ASC 606, <i>Revenue from Contracts with Customers</i>. A performance obligation is a promise in a contract to transfer a distinct good or service. Most contracts include multiple performance obligations, such as engineering and technical services and delivery of climate control system equipment and components, which may span phases from facility design to equipment delivery and start-up. The Company does not provide construction or installation services. Certain contracts contain a single performance obligation, typically engineering-only services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transaction prices are allocated to each performance obligation based on standalone selling price. For engineering services, standalone selling price is estimated using project characteristics such as facility size and system complexity. For equipment sales, standalone selling price is determined by expected costs plus an appropriate margin. When prices are highly variable, the Company uses a combination of methods and observable inputs. Revenue is recognized when control transfers - generally upon shipment for goods and over time for engineering services based on percentage completion toward milestones.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company excludes taxes assessed by governmental authorities from transaction prices and recognizes revenue net of sales taxes. Freight revenue and related costs are recorded when control of goods passes to the customer. The Company offers assurance-type warranties only and maintains a warranty reserve based on historical costs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Retail sales represent a single performance obligation satisfied at the point of sale. Revenue is recognized upon payment and delivery, net of sales taxes. Based on historical data, no material liability for returns was recorded for the periods presented. Gift card sales are recorded as a liability at issuance and recognized upon redemption or when breakage becomes probable. Loyalty programs, such as “buy 10, get 1 free” punch cards, represent separate performance obligations; related liabilities were immaterial for all periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue from e-commerce, phone orders, and factory-direct wholesale is recognized upon shipment (FOB shipping point). Shipping and handling are considered fulfilment costs. Historical return rates are minimal; no allowance for returns has been recorded.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Franchise royalty fees are variable consideration based on a percentage of franchisee sales and are recognized in the period sales occur. Initial franchise fees are recognized upon opening of the new franchise location.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zNedmoYc12t2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Concentrations</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">One customer accounted for <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240501__20251031__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomerMember_zlJAqWYaZJOk" title="Concentration risk percentage">39</span>% of the (Successor) Company’s accounts receivable as of October 31, 2025. The (Predecessor) Company’s accounts receivable from three customers made up <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240501__20250430__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zgLwNsF8tfUg" title="Concentration risk percentage">57</span>%, <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240501__20250430__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zIC6bqF53dZ4" title="Concentration risk percentage">33</span>%, and <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240501__20250430__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zSsEeDlLtDz8" title="Concentration risk percentage">10</span>% of the total accounts receivable balance as of April 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84F_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zMwaOkYpXx59" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Foreign Currency Translation</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s condensed consolidated financial statements are presented in U.S. dollar (“USD”). Financial statements of foreign subsidiaries are translated into U.S. dollars using period-end exchange rates for assets and liabilities and average exchange rates for revenues and expenses. Adjustments resulting from translating net assets are reported as a separate component of accumulated other comprehensive loss within common shareholders’ equity as currency translation adjustment. Monetary assets and liabilities that are denominated in foreign currencies are translated at the rate prevailing at each reporting date. The U.S. dollar effects that arise from translating the net assets of these companies are recorded in other comprehensive income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_ecustom--WarrantsPolicyTextBlock_z5v5913oYnQ8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Warrants</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480, “Distinguishing Liabilities from Equity” (“ASC 480”), and ASC 815-40, “Contracts in Entity’s Own Equity” (“ASC 815-40”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements from equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares, among other conditions for equity classification. This assessment, which requires the use of professional judgement, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the condensed consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p id="xdx_84B_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zmbA7EYIGxXg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Recently Issued Accounting Pronouncements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, the FASB issued Accounting Standards Update No. 2025-05, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets” (“ASU 2025-05”), which introduces a practical expedient (for all entities) and an accounting policy election for non-public entities when estimating expected credit losses for current receivables and contract assets under ASC 606. The standard is effective for annual reporting periods beginning after December 15, 2025, including interim periods within those fiscal years, and early adoption is permitted. The amendments are applied prospectively, and eligible entities can choose to apply the practical expedient and accounting policy election, with required disclosures. The Company is currently evaluating the potential impact of adopting this guidance on its consolidated financial statements and disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2025, the FASB issued Accounting Standards Update No. 2025-01 to clarify the effective date of ASU 2024-03 (disaggregation of income statement expenses) for non-calendar year-end entities. The clarification ensures that initial adoption is required in an annual reporting period (rather than unintentionally in an interim period) for entities with non-calendar year ends. The amendments align with the effective dates stated in ASU 2024-03 (annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027) and early adoption is permitted. The Company is currently evaluating the potential impact of ASU 2024-03 (as clarified by ASU 2025-01) on its unaudited condensed consolidated financial statements and related disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its financial condition, results of operations, cash flows or disclosure.</span></p> <p id="xdx_854_zfzFIP4TpxT6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84B_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zK5NlbkmRQv1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Basis of Presentation</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Pursuant to these rules and regulations, certain information and note disclosures, normally included in financial statements prepared in accordance with GAAP, have been condensed or omitted. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for a fair presentation have been included. Operating results for the six months ended October 31, 2025, are not necessarily indicative of the results that may be expected for the fiscal year ending April 30, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The balance sheet information as of April 30, 2025, has been derived from the audited financial statements at that date but does not include all the information and footnotes required by GAAP for complete financial statements. For further information, refer to the consolidated financial statements and notes thereto contained in the Transitional Annual Report on Form 10-KT for the four months ended April 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 6, 2025 (the “Acquisition Date”), CEA Industries Inc. completed its acquisition of the Fat Panda Group of Companies (“Fat Panda”) (the “Fat Panda Acquisition”). As described in <i>Note 4 – Business Combination</i>, CEA Industries Inc. has been identified as the accounting acquirer (the “Successor”) and Fat Panda as the accounting predecessor (the “Predecessor”) in accordance with the acquisition method of accounting under ASC 805, <i>Business Combinations</i>. As a result of this designation, the financial statements reflect a change in reporting entity. Financial information for periods prior to the Acquisition Date represents the historical operations of Fat Panda and is labelled as “Predecessor.” Financial information for periods beginning on and after the Acquisition Date reflects the operations of the combined entity under the control of CEA Industries Inc. and is labelled as “Successor” since CEA Industries Inc.’s operations prior to the acquisition were insignificant relative to those of Fat Panda. The merger was accounted for as a business combination using the acquisition method of accounting. The Successor financial statements reflect a new basis of accounting based on the fair value of the identifiable net assets acquired. Determining the fair value of certain assets and liabilities assumed involves significant judgment and the use of estimates and assumptions. See Business Combinations below for additional information on the fair values of assets and liabilities recorded in connection with the Fat Panda Acquisition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of applying the acquisition method of accounting as of the Acquisition Date, the accompanying consolidated financial statements include a black line division to distinguish between the Predecessor and Successor reporting entities. These entities are presented on different bases and are therefore not comparable. The lack of comparability is primarily due to the impacts of the Fat Panda Acquisition, including the remeasurement of acquired assets and assumed liabilities at fair value in the Successor consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_ecustom--DigitalAssetsPolicyTextBlock_zlZlCAG6W9yj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Digital Assets</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2023, the FASB issued ASU 2023-08, Digital Assets, which provides guidance on the recognition, measurement, presentation, and disclosure of digital assets through the creation of ASC 350-60 – Intangibles – Goodwill and Other – Crypto Assets. ASU 2023-08 became effective for all entities for fiscal years beginning after December 15, 2024. The standard became effective for the Company on May 1, 2025, and no cumulative-effect adjustment was required. The Company accounts for its digital assets, including BNB tokens, in accordance with ASC 350 – Intangibles – Goodwill and Other. The Company has determined its digital assets meet the scoping criteria of ASC 350-60, which requires eligible crypto assets to be measured at fair value, with changes in fair value recognized in net income. Fair value is determined in accordance with ASC 820 – Fair Value Measurement, using quoted prices in active markets. The Company has designated a principal market based on the market that the Company has access to and has the greatest volume and level of activity of BNB for determining the fair value of BNB tokens.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company deposits certain digital assets with third-party exchanges to facilitate trading activities. Assets held on these exchanges are not maintained in segregated wallets under the Company’s exclusive control and are pooled with assets of other customers. Due to the lack of sufficient regulatory oversight and the Company’s inability to prevent the exchange from using these assets for purposes other than those directed by the Company, the Company has concluded it does not have complete control over the deposited assets. Accordingly, such amounts are recorded as receivables from the exchange within current assets, rather than as digital assets on the condensed consolidated balance sheet, as the Company does not expect to hold these receivables for more than 12 months.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company holds BNB digital assets and periodically receives airdrops from blockchain projects within the Binance ecosystem. Airdrops are distributed randomly without consideration or contractual agreement; therefore, they do not meet the criteria for revenue recognition under ASC 606. The Company records the fair value of airdrops upon receipt and classifies the income as non-operating, presented within Other Income in the consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The activity from remeasurement of digital assets at fair value is reflected in the condensed consolidated statements of operations within unrealized gain/loss on digital assets. Realized gains and losses from the derecognition of digital assets would be included in the realized gain/loss on digital assets in the condensed consolidated statements of operations. Although the Company has not disposed of any digital assets during the reporting period, in the event there are disposals in the future, the Company will use the specific identification method to calculate the realized gains/losses on digital assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales and purchases of digital assets are reflected as cash flows from investing activities in the condensed consolidated statements of cash flows. Contributions of digital assets received as part of the consideration received (through PIPE offerings) are presented within supplemental information for non-cash investing and financing activities in the condensed consolidated statements of cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_z1KcmpPbWxbc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cash and Cash Equivalents </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All highly liquid investments with original maturities of three months or less at the date of purchase are considered to be cash equivalents.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash includes deposits held in financial institutions which are insured by the Canada Deposit Insurance Corporation (CDIC) which automatically insures eligible deposits separately up to $<span id="xdx_90E_ecustom--CashCDICInsuredAmount_iI_uCAD_c20250430_z77r7AXEk5B5" title="CDIC insured amount">100,000</span> Canadian dollars (“CAD”) per depositor, per insured bank, for each ownership category.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of October 31, 2025 (Successor), the Company had approximately $<span id="xdx_905_ecustom--CashCDICUninsuredAmount_iI_uCAD_c20251031_z934jUTrzQai" title="CDIC Uninsured amount">1,341,947</span> CAD in cash deposits in excess of the CDIC insurance limits at certain financial institutions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains deposits in U.S. financial institutions that exceed the federally insured amount of $<span id="xdx_90E_eus-gaap--CashFDICInsuredAmount_iI_c20251031_z1JAFde5nnxc">250,000</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. As of October 31, 2025 (Successor), the Company had approximately $<span id="xdx_905_eus-gaap--CashUninsuredAmount_iI_c20251031_zUkAFRkpnSWj">31,255,989</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in cash deposits in excess of the FDIC insurance limits at one financial institution. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company periodically monitors the financial condition of its financial institutions and considers strategies to mitigate credit risk exposure related to uninsured balances. The Company has not experienced any losses to date on depository accounts. The Company maintains its cash accounts with high credit quality financial institutions and therefore believes that its loss exposure is minimal.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 100000 1341947 250000 31255989 <p id="xdx_845_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zHOmNaz3RtPi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Fair value measurement</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for fair value measurements in accordance with ASC 820, Fair Value Measurement, which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company uses a three-level hierarchy to prioritize the inputs used in measuring fair value:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 – Quoted prices in active markets for identical assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 – Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets or other market-corroborated inputs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 – Unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All the Company’s BNB are held by BNC BNB Cayman, a wholly owned subsidiary organized under the laws of the Cayman Islands. The Company has designated a principal market for BNB based on the market that BNC BNB Cayman has access to and has the greatest volume and level of orderly transactions for BNB. The Company reassesses its principal market when facts and circumstances change, including but not limited to when new markets become accessible, or the volume/activity in the current principal market declines. Because BNB trades continuously across global markets, the Company applies a consistent valuation cut-off at midnight UTC on the reporting date to determine fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s digital assets are measured at fair value on a recurring basis using quoted prices in its principal market (Level 1 inputs) as of the reporting date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has elected the Fair Value Option for its USDC holdings to align with the treatment of its other digital assets. USDC is measured at fair value on a recurring basis using quoted prices in the Company’</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Stapled Warrants, issued in October 2025, are liability classified, and fair valued using a Monte-Carlo option model using Level 3 inputs. Information related to the Stapled Warrants is disclosed in Note 15 – Warrants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--EarningsPerSharePolicyTextBlock_zT8JLzR5Soba" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basic and Diluted Earnings (Loss) per Share</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260, “Earnings per Share” (“ASC 260”). Basic EPS is computed by dividing undistributed earnings attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted impact from potential common stock instruments is calculated using the treasury stock method, and if-converted method as applicable, unless the effect would be anti-dilutive.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eus-gaap--BusinessCombinationsPolicy_zt9kX4TsyLR5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Business Combinations</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For acquisitions meeting the definition of a business combination, the acquisition method of accounting is used. The consideration transferred for the acquired business is allocated to the assets acquired and liabilities assumed based on their fair values at the date of acquisition, including identifiable intangible assets. Any excess of the amount paid over the estimated fair values of the identifiable net assets acquired is allocated to goodwill. Acquisition-related costs, such as professional fees, are excluded from the consideration transferred and are expensed as incurred. The Company uses its best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. The Company’s estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions, tax-related valuation allowances and pre-acquisition contingencies are initially recorded in connection with a business combination as of the acquisition date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--GoodwillAndIntangibleAssetsGoodwillPolicy_zX615qu9LEW7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Goodwill</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill represents the excess of the purchase price for an acquisition over the fair value of the identifiable net assets acquired. Goodwill is not amortized but rather is reviewed annually for impairment, at the reporting unit level, or when there is evidence that events or changes in circumstances indicate that the Company’s carrying amount may not be recovered. When testing goodwill for impairment, the Company first performs an assessment of qualitative factors. If qualitative factors indicate that it is more likely than not that the fair value of the relevant reporting unit is less than its carrying amount, the Company tests goodwill for impairment at the reporting unit level using a two-step approach. In step one, the Company determines if the fair value of the reporting unit exceeds the unit’s carrying value. If step one indicates that the fair value of the reporting unit is less than its carrying value, the Company performs step two, determining the fair value of goodwill and, if the carrying value of goodwill exceeds its implied fair value, an impairment charge is recorded.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--GoodwillAndIntangibleAssetsIntangibleAssetsPolicy_zFvYmlydPKii" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Intangible assets</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has recognized two intangible assets: one with an indefinite useful life and one with a finite useful life. The indefinite-lived intangible asset, a trade name, is not subject to amortization. Instead, it is evaluated for impairment on an annual basis, or more frequently if events or changes in circumstances suggest that the asset may be impaired. The impairment assessment involves estimating the fair value of the trade name using discounted future cash flows and comparing it to its carrying amount. If the carrying amount exceeds the estimated fair value, an impairment charge is recorded for the difference.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The finite-lived intangible asset, also a trade name, is recorded at historical cost less accumulated amortization. Amortization is recognized on a straight-line basis over the asset’s estimated useful life of <span id="xdx_905_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20251031_zC29Bubggv44" title="Finite lived intangible asset useful life">10</span> years, which is determined based on the expected economic benefit and usage of the asset. This asset is reviewed for impairment whenever indicators of potential impairment arise. The evaluation compares the carrying value to the estimated future undiscounted cash flows expected to be generated by the asset. If the carrying value exceeds those cash flows, the asset is considered impaired, and the impairment loss is measured as the excess of the carrying amount over its fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Debt Discount and Debt Issuance costs</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt issuance costs related to notes payables liability are directly deducted from the carrying amount of the notes payables. These costs, along with debt discounts, are deferred and amortized over the term of the debt using the effective interest method.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> P10Y <p id="xdx_847_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zUTmok4hWIEc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Revenue recognition</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for revenue in accordance with ASC 606, <i>Revenue from Contracts with Customers</i>. A performance obligation is a promise in a contract to transfer a distinct good or service. Most contracts include multiple performance obligations, such as engineering and technical services and delivery of climate control system equipment and components, which may span phases from facility design to equipment delivery and start-up. The Company does not provide construction or installation services. Certain contracts contain a single performance obligation, typically engineering-only services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transaction prices are allocated to each performance obligation based on standalone selling price. For engineering services, standalone selling price is estimated using project characteristics such as facility size and system complexity. For equipment sales, standalone selling price is determined by expected costs plus an appropriate margin. When prices are highly variable, the Company uses a combination of methods and observable inputs. Revenue is recognized when control transfers - generally upon shipment for goods and over time for engineering services based on percentage completion toward milestones.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company excludes taxes assessed by governmental authorities from transaction prices and recognizes revenue net of sales taxes. Freight revenue and related costs are recorded when control of goods passes to the customer. The Company offers assurance-type warranties only and maintains a warranty reserve based on historical costs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Retail sales represent a single performance obligation satisfied at the point of sale. Revenue is recognized upon payment and delivery, net of sales taxes. Based on historical data, no material liability for returns was recorded for the periods presented. Gift card sales are recorded as a liability at issuance and recognized upon redemption or when breakage becomes probable. Loyalty programs, such as “buy 10, get 1 free” punch cards, represent separate performance obligations; related liabilities were immaterial for all periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue from e-commerce, phone orders, and factory-direct wholesale is recognized upon shipment (FOB shipping point). Shipping and handling are considered fulfilment costs. Historical return rates are minimal; no allowance for returns has been recorded.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Franchise royalty fees are variable consideration based on a percentage of franchisee sales and are recognized in the period sales occur. Initial franchise fees are recognized upon opening of the new franchise location.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zNedmoYc12t2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Concentrations</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">One customer accounted for <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240501__20251031__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomerMember_zlJAqWYaZJOk" title="Concentration risk percentage">39</span>% of the (Successor) Company’s accounts receivable as of October 31, 2025. The (Predecessor) Company’s accounts receivable from three customers made up <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240501__20250430__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zgLwNsF8tfUg" title="Concentration risk percentage">57</span>%, <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240501__20250430__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zIC6bqF53dZ4" title="Concentration risk percentage">33</span>%, and <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240501__20250430__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomerThreeMember_zSsEeDlLtDz8" title="Concentration risk percentage">10</span>% of the total accounts receivable balance as of April 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.39 0.57 0.33 0.10 <p id="xdx_84F_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zMwaOkYpXx59" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Foreign Currency Translation</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s condensed consolidated financial statements are presented in U.S. dollar (“USD”). Financial statements of foreign subsidiaries are translated into U.S. dollars using period-end exchange rates for assets and liabilities and average exchange rates for revenues and expenses. Adjustments resulting from translating net assets are reported as a separate component of accumulated other comprehensive loss within common shareholders’ equity as currency translation adjustment. Monetary assets and liabilities that are denominated in foreign currencies are translated at the rate prevailing at each reporting date. The U.S. dollar effects that arise from translating the net assets of these companies are recorded in other comprehensive income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_ecustom--WarrantsPolicyTextBlock_z5v5913oYnQ8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Warrants</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480, “Distinguishing Liabilities from Equity” (“ASC 480”), and ASC 815-40, “Contracts in Entity’s Own Equity” (“ASC 815-40”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements from equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares, among other conditions for equity classification. This assessment, which requires the use of professional judgement, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the condensed consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p id="xdx_84B_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zmbA7EYIGxXg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Recently Issued Accounting Pronouncements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, the FASB issued Accounting Standards Update No. 2025-05, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets” (“ASU 2025-05”), which introduces a practical expedient (for all entities) and an accounting policy election for non-public entities when estimating expected credit losses for current receivables and contract assets under ASC 606. The standard is effective for annual reporting periods beginning after December 15, 2025, including interim periods within those fiscal years, and early adoption is permitted. The amendments are applied prospectively, and eligible entities can choose to apply the practical expedient and accounting policy election, with required disclosures. The Company is currently evaluating the potential impact of adopting this guidance on its consolidated financial statements and disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2025, the FASB issued Accounting Standards Update No. 2025-01 to clarify the effective date of ASU 2024-03 (disaggregation of income statement expenses) for non-calendar year-end entities. The clarification ensures that initial adoption is required in an annual reporting period (rather than unintentionally in an interim period) for entities with non-calendar year ends. The amendments align with the effective dates stated in ASU 2024-03 (annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027) and early adoption is permitted. The Company is currently evaluating the potential impact of ASU 2024-03 (as clarified by ASU 2025-01) on its unaudited condensed consolidated financial statements and related disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its financial condition, results of operations, cash flows or disclosure.</span></p> <p id="xdx_800_eus-gaap--CryptoAssetTextBlock_znpJY65eSqf2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 3 - <span id="xdx_825_z9hcTT0MO5ul">Digital Assets</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the units held, cost basis, and fair value of digital assets held, as shown on the condensed balance sheet as of October 31, 2025:</span></p> <p id="xdx_89D_eus-gaap--CryptoAssetHoldingTableTextBlock_z6UMhaDZygX4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zAHCPZCTFz8" style="display: none">Schedule of Units Held Cost Basis And Fair Value of Digital Assets Held</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Digital Assets held:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Tokens</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">BNB</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--CryptoAssetNumberOfUnits_iI_uInteger_c20251031__srt--CryptoAssetAxis__custom--BinanceCoinMember_zzc5kwIJhdGj" style="width: 14%; text-align: right" title="Fair value">511,932</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--CryptoAssetCost_iI_c20251031__srt--CryptoAssetAxis__custom--BinanceCoinMember_zdgt0GXri018" style="width: 14%; text-align: right" title="Fair value">442,960,096</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--CryptoAssetFairValue_iI_c20251031__srt--CryptoAssetAxis__custom--BinanceCoinMember_zvRl9nYQBZUf" style="width: 14%; text-align: right" title="Fair value">557,443,133</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>BTC</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--CryptoAssetNumberOfUnits_iI_uInteger_c20251031__srt--CryptoAssetAxis__custom--BTCMember_zCLgbrHeHqwk" style="text-align: right" title="Fair value">55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--CryptoAssetCost_iI_c20251031__srt--CryptoAssetAxis__custom--BTCMember_zsKnZYiPrUF3" style="text-align: right" title="Fair value">6,451,182</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--CryptoAssetFairValue_iI_c20251031__srt--CryptoAssetAxis__custom--BTCMember_zl0Xhql6HPUc" style="text-align: right" title="Fair value">6,001,864</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>USDC</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--CryptoAssetNumberOfUnits_iI_uInteger_c20251031__srt--CryptoAssetAxis__custom--USDCMember_z2qmYyk3CMSd" style="text-align: right" title="Fair value">4,067,333</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--CryptoAssetCost_iI_c20251031__srt--CryptoAssetAxis__custom--USDCMember_zqrKp1OVuMC8" style="text-align: right" title="Fair value">4,067,333</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--CryptoAssetFairValue_iI_c20251031__srt--CryptoAssetAxis__custom--USDCMember_zTJl3Rf7dCPg" style="text-align: right" title="Fair value">4,067,333</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">USDT</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--CryptoAssetNumberOfUnits_iI_uInteger_c20251031__srt--CryptoAssetAxis__custom--TetherMember_zWFq48R9jk51" style="border-bottom: Black 1pt solid; text-align: right" title="Fair value">474,764</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--CryptoAssetCost_iI_c20251031__srt--CryptoAssetAxis__custom--TetherMember_zUWB6WreyEa3" style="border-bottom: Black 1pt solid; text-align: right" title="Fair value">474,764</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--CryptoAssetFairValue_iI_c20251031__srt--CryptoAssetAxis__custom--TetherMember_zS6wNCHZMlol" style="border-bottom: Black 1pt solid; text-align: right" title="Fair value">474,764</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--CryptoAssetNumberOfUnits_iI_uInteger_c20251031_zPaV1PeKvQI2" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Tokens">5,054,084</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98E_eus-gaap--CryptoAssetCost_iI_c20251031_zjveEnfOXLhj" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Cost">453,953,375</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_988_eus-gaap--CryptoAssetFairValue_iI_c20251031_zMqmbOQ0cwb7" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Fair value">567,987,094</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A5_z5IfMU0FTtka" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost basis is equal to the cost of the digital asset, net of any transaction fees, if any, at the time of purchase or upon receipt. Digital assets are measured at fair value on a recurring basis in accordance with ASC 820, Fair Value Measurement, using a quoted prices in active markets (Level 1 inputs). Fair value represents the quoted prices on a principal market at midnight UTC on the measurement date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">As of October 31, 2025, the Company holds <span id="xdx_904_ecustom--CryptoAssetFairValueShares_iI_c20251031__srt--CryptoAssetAxis__custom--BinanceCoinMember_zyR5LcxJsfWb" title="Digital assets, shares">502,441</span> BNB tokens with a fair value of $<span id="xdx_909_eus-gaap--CryptoAssetFairValueNoncurrent_iI_c20251031_zKPxBhbmS405" title="Digital assets">547,108,026</span> as digital assets. An additional <span id="xdx_903_ecustom--CryptoAssetHeldInThirdPartyShares_iI_c20251031__srt--CryptoAssetAxis__custom--BinanceCoinMember_zecuRiZIQPqk" title="Digital assets, held in third party shares">9,491</span> BNB tokens, valued at $<span id="xdx_90A_ecustom--CryptoAssetHeldInThirdParty_iI_c20251031_zKuafbdfCNK7" title="Digital assets, held in third party">10,335,107</span>, are held with third-party exchanges where the Company does not control the private keys. Accordingly, BNB tokens held with third-party exchanges are presented as digital asset receivable, together with BTC, USDC and USDT, as of October 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Digital asset receivables are not interest-bearing and are generally due on demand. The Company’s digital asset receivables are with only one counterparty.<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s digital asset holdings, as of:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_ecustom--ScheduleOfDigitalAssetHoldingsTableTextBlock_zquPCZn54U8j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zWCKkAj9NoGl" style="display: none">Schedule of Digital Asset Holdings</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Fair Value on – May 1, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250501__20251031_zf5MU4JvLR5h" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Balance</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--CryptoAssetAddition_z3q4EdrnsA9c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Additions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">448,125,798</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--CryptoAssetAirdropIncome_zcfrPOO1X932" style="vertical-align: bottom; background-color: White"> <td>Airdrop income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,827,578</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CryptoAssetRealizedAndUnrealizedGainOperating_zulXXDsIBB91" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unrealized gain on BNB</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,483,038</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--CryptoAssetRealizedAndUnrealizedLossOperating_iN_di_z4zQa85EeS8g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Unrealized loss on BTC</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(449,320</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--CryptoAssetFairValue_iE_zDEa2vZdudU1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Ending balance – October 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">567,987,094</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--CryptoAssetFairValue_iE_z4Lzu0Ty8tmc" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Fair Value</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">567,987,094</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A4_zFJB6OPaMJza" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_89D_eus-gaap--CryptoAssetHoldingTableTextBlock_z6UMhaDZygX4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zAHCPZCTFz8" style="display: none">Schedule of Units Held Cost Basis And Fair Value of Digital Assets Held</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Digital Assets held:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Tokens</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">BNB</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--CryptoAssetNumberOfUnits_iI_uInteger_c20251031__srt--CryptoAssetAxis__custom--BinanceCoinMember_zzc5kwIJhdGj" style="width: 14%; text-align: right" title="Fair value">511,932</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--CryptoAssetCost_iI_c20251031__srt--CryptoAssetAxis__custom--BinanceCoinMember_zdgt0GXri018" style="width: 14%; text-align: right" title="Fair value">442,960,096</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--CryptoAssetFairValue_iI_c20251031__srt--CryptoAssetAxis__custom--BinanceCoinMember_zvRl9nYQBZUf" style="width: 14%; text-align: right" title="Fair value">557,443,133</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>BTC</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--CryptoAssetNumberOfUnits_iI_uInteger_c20251031__srt--CryptoAssetAxis__custom--BTCMember_zCLgbrHeHqwk" style="text-align: right" title="Fair value">55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--CryptoAssetCost_iI_c20251031__srt--CryptoAssetAxis__custom--BTCMember_zsKnZYiPrUF3" style="text-align: right" title="Fair value">6,451,182</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--CryptoAssetFairValue_iI_c20251031__srt--CryptoAssetAxis__custom--BTCMember_zl0Xhql6HPUc" style="text-align: right" title="Fair value">6,001,864</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>USDC</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--CryptoAssetNumberOfUnits_iI_uInteger_c20251031__srt--CryptoAssetAxis__custom--USDCMember_z2qmYyk3CMSd" style="text-align: right" title="Fair value">4,067,333</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--CryptoAssetCost_iI_c20251031__srt--CryptoAssetAxis__custom--USDCMember_zqrKp1OVuMC8" style="text-align: right" title="Fair value">4,067,333</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--CryptoAssetFairValue_iI_c20251031__srt--CryptoAssetAxis__custom--USDCMember_zTJl3Rf7dCPg" style="text-align: right" title="Fair value">4,067,333</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">USDT</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--CryptoAssetNumberOfUnits_iI_uInteger_c20251031__srt--CryptoAssetAxis__custom--TetherMember_zWFq48R9jk51" style="border-bottom: Black 1pt solid; text-align: right" title="Fair value">474,764</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--CryptoAssetCost_iI_c20251031__srt--CryptoAssetAxis__custom--TetherMember_zUWB6WreyEa3" style="border-bottom: Black 1pt solid; text-align: right" title="Fair value">474,764</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--CryptoAssetFairValue_iI_c20251031__srt--CryptoAssetAxis__custom--TetherMember_zS6wNCHZMlol" style="border-bottom: Black 1pt solid; text-align: right" title="Fair value">474,764</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--CryptoAssetNumberOfUnits_iI_uInteger_c20251031_zPaV1PeKvQI2" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Tokens">5,054,084</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98E_eus-gaap--CryptoAssetCost_iI_c20251031_zjveEnfOXLhj" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Cost">453,953,375</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_988_eus-gaap--CryptoAssetFairValue_iI_c20251031_zMqmbOQ0cwb7" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Fair value">567,987,094</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 511932 442960096 557443133 55 6451182 6001864 4067333 4067333 4067333 474764 474764 474764 5054084 453953375 567987094 502441 547108026 9491 10335107 <p id="xdx_89A_ecustom--ScheduleOfDigitalAssetHoldingsTableTextBlock_zquPCZn54U8j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zWCKkAj9NoGl" style="display: none">Schedule of Digital Asset Holdings</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Fair Value on – May 1, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250501__20251031_zf5MU4JvLR5h" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Balance</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--CryptoAssetAddition_z3q4EdrnsA9c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Additions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">448,125,798</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--CryptoAssetAirdropIncome_zcfrPOO1X932" style="vertical-align: bottom; background-color: White"> <td>Airdrop income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,827,578</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CryptoAssetRealizedAndUnrealizedGainOperating_zulXXDsIBB91" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unrealized gain on BNB</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,483,038</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--CryptoAssetRealizedAndUnrealizedLossOperating_iN_di_z4zQa85EeS8g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Unrealized loss on BTC</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(449,320</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--CryptoAssetFairValue_iE_zDEa2vZdudU1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Ending balance – October 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">567,987,094</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--CryptoAssetFairValue_iE_z4Lzu0Ty8tmc" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Fair Value</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">567,987,094</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 448125798 5827578 114483038 449320 567987094 567987094 <p id="xdx_80C_eus-gaap--BusinessCombinationDisclosureTextBlock_zm6tte1eCBsi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 4 - <span id="xdx_821_znIyR3vWB9Mf">Business Combinations</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 6, 2025 (the “Acquisition Date”), the Company acquired the Fat Panda Group of Companies, Central Canada’s leading retailer and manufacturer of vaping products, holding a significant market share across Manitoba, Ontario, and Saskatchewan. With 33 retail locations and a thriving e-commerce platform, the company offers a wide range of high-quality vape devices and e- liquids, including its own premium in-house line.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The purchase price was $<span id="xdx_904_eus-gaap--AssetAcquisitionConsiderationTransferred_pn5n6_c20250606__20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember_z4BKBMSJZxX4" title="Purchase price">12.3</span> million comprised of approximately $<span id="xdx_902_eus-gaap--PaymentsToAcquireProductiveAssets_pn5n6_c20250606__20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember_zmvEeiBN1Rn2" title="Payments to acquire productive assets">10.6</span> million in cash to the sellers, <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesPurchaseOfAssets_c20250606__20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember_zSQXMCDrWSRf" title="Shares purchase of assets">39,000</span> shares of the Company’s common stock with an agreed value of $<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodValuePurchaseOfAssets_pn5n6_c20250606__20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember_zpMOGA8L1Sc6" title="Shares purchase of assets, value">0.3</span> million and seller notes totalling $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember_zPJDMKl90TVi" title="Debt instrument face amount">1.4</span> million. A portion of the purchase price was funded by a short-term loan from a United States based lender in the amount of $<span id="xdx_902_eus-gaap--ShortTermBorrowings_iI_pn5n6_c20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember__us-gaap--ShortTermDebtTypeAxis__custom--LenderMember_z2Ckp7INQHDi" title="Short term borrowings">4.0</span> million, which was due in six months (the “FP Loan”). In addition, $<span id="xdx_90B_eus-gaap--EscrowDeposit_iI_pn5n6_c20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember_zHXt0qkoFLjk" title="Escrow deposit">1.9</span> million has been placed in escrow to support post-closing adjustments, indemnity obligations, and employee-related matters. On December 4, 2025, the Company repaid the outstanding balance of the FP Loan in full.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The purchase price has been allocated to the tangible assets and identifiable intangible assets acquired and liabilities assumed based upon their preliminary estimated fair values as of the Acquisition Date. The excess of the purchase price over the tangible and intangible assets acquired and liabilities assumed has been recorded as goodwill. The goodwill is primarily attributable to the assembled workforce, synergies expected from combining operations, and future growth opportunities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zP8xUaOZRz8j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date and is based on the best estimate of management, which is subject to change within the measurement period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zHze4HHtxaNl" style="display: none">Schedule of the Preliminary Fair Value of Assets Acquired and Liabilities Assumed</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250606__us-gaap--BusinessAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zlxIqH02Bx24" style="border-bottom: Black 1pt solid; display: none; text-align: center">As Initially Reported</td><td style="display: none; padding-bottom: 1pt"> </td><td style="display: none; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250606__us-gaap--BusinessAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zHv7Bp7d8xJ5" style="border-bottom: Black 1pt solid; display: none; text-align: center">Adjustment Increase (Decrease)</td><td style="display: none; padding-bottom: 1pt"> </td><td style="display: none; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250606__us-gaap--BusinessAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember_zz9ZVYOkBCRg" style="border-bottom: Black 1pt solid; display: none; text-align: center">Revised Amount</td><td style="display: none; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>As Initially Reported</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>Adjustment Increase (Decrease)</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>Revised Amount</b></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_maBCRIAzUqE_zluqQiUsavAd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,924,558</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1060">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,924,558</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_maBCRIAzUqE_zXqQmVOwh4Vk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">176,720</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(48,829</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">127,891</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRelatedPartyReceivables_iI_maBCRIAzUqE_z2efa1kuZ0si" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Related party receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">674,296</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">674,296</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_iI_maBCRIAzUqE_zt6FtEtjMmEk" style="vertical-align: bottom; background-color: White"> <td>Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,690,227</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(20,316</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,669,911</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_iI_maBCRIAzUqE_zPDFRAtsB5Q8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">113,371</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(33,064</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,307</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_maBCRIAzUqE_zQjzpTHFmAng" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fixed assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">314,515</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">314,515</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRightOfUseAsset_iI_maBCRIAzUqE_zstqFeFG2kwi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use asset</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,854,018</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,854,018</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_iI_maBCRIAzUqE_zFBrKL2fDfgh" style="vertical-align: bottom; background-color: White"> <td>Deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">219,330</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">219,330</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_maBCRIAzUqE_zlenrERB10fk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Intangibles – Trade name</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,236,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,236,869</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Goodwill_iI_maBCRIAzUqE_z1mXGtDgZN45" style="vertical-align: bottom; background-color: White"> <td>Goodwill</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,206,487</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(76,442</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,130,045</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_di_msBCRIAzUqE_zMQxi1yE7d2h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable and accrued liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,311,420</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,526</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,264,894</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIncomeTaxesPayable_iNI_di_msBCRIAzUqE_zR0JogGO5w78" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income taxes payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(108,030</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(108,030</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_iNI_di_msBCRIAzUqE_zXKqmW23YHu8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,257,613</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,257,613</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLeaseLiabilitiesCurrent_iNI_di_msBCRIAzUqE_z1ZgmljgRU7a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease liabilities - short-term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(533,659</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(533,659</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_di_msBCRIAzUqE_zROeaUprKqz2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current portion of royalty liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,970</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1117">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLeaseLiabilitiesNoncurrent_iNI_di_msBCRIAzUqE_zV9wfZ58rSl8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Lease liabilities - long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,334,281</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,334,281</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_mtBCRIAzUqE_zzlOZfE9DaJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total net assets acquired</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,852,418</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(119,155</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,733,263</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zLH7FM6vZkv9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three and nine months ended October 31, 2025, the Company recorded measurement period adjustments resulting from new information about facts and circumstances that existed as of the Acquisition Date. These adjustments primarily related to updated valuations of working capital accounts, including accounts receivable. inventory, prepaid expenses, and accrued liabilities, as well as the fair value of the notes issued to the seller as part of the purchase consideration. In accordance with ASC 805, the Company retrospectively adjusted the provisional amounts recognized at the Acquisition Date to reflect these new measurements. The adjustments resulted in changes to certain current assets and liabilities and the fair value of notes issued as consideration. The cumulative impact of these adjustments was recorded as a decrease to goodwill, and prior-period comparative information has been revised as if the adjustments had been recognized at the Acquisition Date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As part of the purchase price allocation, the Company determined the identifiable intangible assets were a trade name. The fair value of the intangible assets was estimated using variations of the income approach. Specifically, the relief from royalty method was utilized to estimate the fair value of the trade name. The valuation of intangible assets incorporates significant unobservable inputs (Level 3 inputs) and requires significant judgment and estimates, including the amount and timing of future cash flows and discount rates. The cash flows were based on estimates used to price the transaction, and the discount rates applied were benchmarked with reference to the implied rate of return from the transaction model and the weighted average cost of capital.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to the timing of the completion of the acquisition, the purchase price and related allocations are preliminary and could be revised as a result of adjustments made to the purchase price and additional information obtained regarding assets acquired and liabilities assumed. The purchase price allocation will be finalized within the measurement period of up to one year from the acquisition date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the acquired identifiable intangible assets, acquisition date estimated fair value and estimated useful lives:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company’s buyer transaction costs to acquire the Fat Panda Group of Companies totalled approximately $<span id="xdx_90C_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_c20251031__us-gaap--BusinessAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember_zKBUwXzwUCF9" title="Transaction cost">1,000,000</span> and are included within transaction costs in the condensed consolidated statements of operations for the period from June 7, 2025, through October 31, 2025 (Successor). Payments for buyer transaction costs were made on behalf of the Company by the Company’s controlling stockholder and have been included as contributed capital in the condensed consolidated statements of stockholders’ equity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following unaudited pro forma consolidated financial information reflects the results of operations of the Company for the six months ended October 31, 2025, and 2024, as if the Fat Panda Acquisition and related financing had occurred on May 1, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--BusinessAcquisitionProFormaInformationTextBlock_zN1eD7qLTQ0f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This information gives effect to certain purchase accounting and financing adjustments and is based on the historical financial statements of CEA Industries Inc. It is presented for illustrative purposes only and is not necessarily indicative of the Company’s actual operating results had the Fat Panda Acquisition and related financing occurred on May 1, 2024, nor is it indicative of future results.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B0_zQ875v7cbabh" style="display: none">Schedule of Certain Purchase Accounting and Financing Adjustments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 11pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_495_20250501__20251031__srt--StatementScenarioAxis__srt--ProFormaMember_zW1F026HtAP5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proforma</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20240501__20241031__srt--StatementScenarioAxis__srt--ProFormaMember_zJZYPb6Q5LZd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proforma</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 11pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><b>For the six</b></p> <p style="margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><b>month ended October 31, 2025</b></p></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><b>For the six</b></p> <p style="margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><b>months ended October 31, 2024</b></p></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zsQERWngoTr1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">17,268,150</td><td style="width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">16,635,529</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLoss_z5CAQfBskU68" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net Income/(loss)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">285,495</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,189,859</td><td style="text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 11pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_491_20250801__20251031__srt--StatementScenarioAxis__srt--ProFormaMember_z2FawR4IXCr4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proforma</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20240801__20241031__srt--StatementScenarioAxis__srt--ProFormaMember_zb49qWlh6y12" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proforma</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 11pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>For the three months ended October 31, 2025</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>For the three months ended October 31, 2024</b></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zYdJRdA2MCB3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">6,741,480</td><td style="width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">7,916,559</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--NetIncomeLoss_zpUkY7kajcx7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net Income/(loss)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,736,967</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,311,958</td><td style="text-align: left">)</td></tr> </table> <p id="xdx_8A5_zniX2JejW6T5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pro forma financial information is presented as if the operations of Fat Panda had been included in the consolidated results of the Company since May 1, 2024, and reflects transactions that are directly attributable to the Fat Panda Acquisition and related financing. Pro forma adjustments to the six months ended October 31, 2025 and 2024 include adjustments for amortization of preliminary marketing-related intangible assets, elimination of non-recurring transaction costs incurred related to the acquisition, debt discount amortization and interest expense on the $<span id="xdx_901_eus-gaap--AmortizationOfDebtDiscountPremium_c20250501__20251031_zbEmVGP12Kce" title="Debt discount amortization"><span id="xdx_907_eus-gaap--AmortizationOfDebtDiscountPremium_c20240501__20241031_zjlQ3yBJ0p8i" title="Debt discount amortization"><span id="xdx_906_eus-gaap--InterestExpenseDebt_c20250501__20251031_zN18CWHf6ee5" title="Interest expense,"><span id="xdx_90F_eus-gaap--InterestExpenseDebt_c20240501__20241031_z4eCQF1Y6Vfc" title="Interest expense,">4,000,000</span></span></span></span> bridge loan, and debt discount amortization and interest expense on the promissory notes issued to the sellers of Fat Panda.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 12300000 10600000 39000 300000 1400000 4000000.0 1900000 <p id="xdx_891_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zP8xUaOZRz8j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date and is based on the best estimate of management, which is subject to change within the measurement period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zHze4HHtxaNl" style="display: none">Schedule of the Preliminary Fair Value of Assets Acquired and Liabilities Assumed</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250606__us-gaap--BusinessAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zlxIqH02Bx24" style="border-bottom: Black 1pt solid; display: none; text-align: center">As Initially Reported</td><td style="display: none; padding-bottom: 1pt"> </td><td style="display: none; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250606__us-gaap--BusinessAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodReclassificationAdjustmentMember_zHv7Bp7d8xJ5" style="border-bottom: Black 1pt solid; display: none; text-align: center">Adjustment Increase (Decrease)</td><td style="display: none; padding-bottom: 1pt"> </td><td style="display: none; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250606__us-gaap--BusinessAcquisitionAxis__custom--FatPandaGroupOfCompaniesMember_zz9ZVYOkBCRg" style="border-bottom: Black 1pt solid; display: none; text-align: center">Revised Amount</td><td style="display: none; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>As Initially Reported</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>Adjustment Increase (Decrease)</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>Revised Amount</b></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_maBCRIAzUqE_zluqQiUsavAd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,924,558</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1060">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,924,558</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_maBCRIAzUqE_zXqQmVOwh4Vk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">176,720</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(48,829</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">127,891</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRelatedPartyReceivables_iI_maBCRIAzUqE_z2efa1kuZ0si" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Related party receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">674,296</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">674,296</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_iI_maBCRIAzUqE_zt6FtEtjMmEk" style="vertical-align: bottom; background-color: White"> <td>Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,690,227</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(20,316</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,669,911</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_iI_maBCRIAzUqE_zPDFRAtsB5Q8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">113,371</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(33,064</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,307</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_maBCRIAzUqE_zQjzpTHFmAng" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fixed assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">314,515</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">314,515</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRightOfUseAsset_iI_maBCRIAzUqE_zstqFeFG2kwi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use asset</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,854,018</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,854,018</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_iI_maBCRIAzUqE_zFBrKL2fDfgh" style="vertical-align: bottom; background-color: White"> <td>Deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">219,330</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">219,330</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_maBCRIAzUqE_zlenrERB10fk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Intangibles – Trade name</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,236,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,236,869</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Goodwill_iI_maBCRIAzUqE_z1mXGtDgZN45" style="vertical-align: bottom; background-color: White"> <td>Goodwill</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,206,487</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(76,442</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,130,045</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_di_msBCRIAzUqE_zMQxi1yE7d2h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable and accrued liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,311,420</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,526</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,264,894</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIncomeTaxesPayable_iNI_di_msBCRIAzUqE_zR0JogGO5w78" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income taxes payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(108,030</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(108,030</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_iNI_di_msBCRIAzUqE_zXKqmW23YHu8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,257,613</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,257,613</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLeaseLiabilitiesCurrent_iNI_di_msBCRIAzUqE_z1ZgmljgRU7a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease liabilities - short-term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(533,659</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(533,659</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_di_msBCRIAzUqE_zROeaUprKqz2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current portion of royalty liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,970</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1117">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLeaseLiabilitiesNoncurrent_iNI_di_msBCRIAzUqE_zV9wfZ58rSl8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Lease liabilities - long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,334,281</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,334,281</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_mtBCRIAzUqE_zzlOZfE9DaJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total net assets acquired</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,852,418</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(119,155</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,733,263</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1924558 1924558 176720 -48829 127891 674296 674296 3690227 -20316 3669911 113371 -33064 80307 314515 314515 1854018 1854018 219330 219330 5236869 5236869 4206487 -76442 4130045 2311420 -46526 2264894 108030 108030 1257613 1257613 533659 533659 12970 -12970 1334281 1334281 12852418 -119155 12733263 1000000 <p id="xdx_89E_eus-gaap--BusinessAcquisitionProFormaInformationTextBlock_zN1eD7qLTQ0f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This information gives effect to certain purchase accounting and financing adjustments and is based on the historical financial statements of CEA Industries Inc. It is presented for illustrative purposes only and is not necessarily indicative of the Company’s actual operating results had the Fat Panda Acquisition and related financing occurred on May 1, 2024, nor is it indicative of future results.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B0_zQ875v7cbabh" style="display: none">Schedule of Certain Purchase Accounting and Financing Adjustments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 11pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_495_20250501__20251031__srt--StatementScenarioAxis__srt--ProFormaMember_zW1F026HtAP5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proforma</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20240501__20241031__srt--StatementScenarioAxis__srt--ProFormaMember_zJZYPb6Q5LZd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proforma</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 11pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><b>For the six</b></p> <p style="margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><b>month ended October 31, 2025</b></p></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><b>For the six</b></p> <p style="margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><b>months ended October 31, 2024</b></p></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zsQERWngoTr1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">17,268,150</td><td style="width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">16,635,529</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLoss_z5CAQfBskU68" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net Income/(loss)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">285,495</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,189,859</td><td style="text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 11pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_491_20250801__20251031__srt--StatementScenarioAxis__srt--ProFormaMember_z2FawR4IXCr4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proforma</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20240801__20241031__srt--StatementScenarioAxis__srt--ProFormaMember_zb49qWlh6y12" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proforma</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-size: 11pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>For the three months ended October 31, 2025</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>For the three months ended October 31, 2024</b></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zYdJRdA2MCB3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">6,741,480</td><td style="width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">7,916,559</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--NetIncomeLoss_zpUkY7kajcx7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net Income/(loss)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,736,967</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,311,958</td><td style="text-align: left">)</td></tr> </table> 17268150 16635529 285495 -2189859 6741480 7916559 1736967 -2311958 4000000 4000000 4000000 4000000 <p id="xdx_805_eus-gaap--LesseeOperatingLeasesTextBlock_zDluGIVCutUa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 5 – <span id="xdx_82A_zMxolWUFrie4">Leases</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_897_eus-gaap--LeaseCostTableTextBlock_zpOeXRFuNwC4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s operating and finance right-of-use assets and lease liabilities are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_z9TtGhddk6bd" style="display: none">Schedule of Lease Cost</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20251031_zG8qrhAF5LFa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zizb3AHXQnZg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_90C_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20250430_zMwwzE1qlPIk">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseRightOfUseAsset_iI_zd0ZPfVRhj9f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Operating lease right-of-use asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">1,821,417</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">1,890,013</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiabilityCurrent_iI_zwcmGEVwi8Oe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease liability, current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">671,520</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">528,914</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_zIAM3Xnmu1ca" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liability, long-term</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,187,373</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,374,639</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_498_20250607__20251031_zD4faUhfo6jb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_491_20250501__20250606__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zPmohrf8GgM5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_908_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250501__20250606_zaXL9jWiO437">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_497_20240501__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zLAvyZv5yxgd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_906_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zOBkYoQD7m9f">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from</p> <p style="margin-top: 0; margin-bottom: 0">June 7 through</p> <p style="margin-top: 0; margin-bottom: 0">October 31, 2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Period from</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>May 1 through</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 6, 2025</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeasePayments_zoetqTukycc7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Cash paid for operating lease</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">260,496</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">91,749</td><td style="width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">333,881</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p id="xdx_8A3_zYrEjLidzVZ" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zcTSz1N3VNR7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future annual minimum lease payments under non-cancellable operating leases as of October 31, 2025, were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zqqs9I66ut4h" style="display: none">Schedule of Future Annual Minimum Lease Payments</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of October 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251031_z4YV9CUYTuHa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Years ended April 30,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maLOLLPzDPL_zniXDzIRDYi7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">2026 (excluding the six months ended October 31, 2025)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">395,700</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzDPL_zSwEEJlGpAye" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">710,746</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzDPL_zICt4BXPyk6k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">486,199</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzDPL_zejNDtIx8nOl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">306,056</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_maLOLLPzDPL_z5CMxy8CQSg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">165,044</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterFour_iI_maLOLLPzDPL_z6DMiytx7jU4" style="vertical-align: bottom; background-color: White"> <td>Thereafter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,314</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzDPL_zuHihgh6SXH9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,264,059</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zBDhoRpEKGXk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(453,407</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiability_iTI_zoszQooDNVw4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Present value of minimum lease payments</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,810,652</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zOxynzJqqaj5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_ecustom--LeaseOtherInformationTableTextBlock_z3h1WK6JPhIa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other information related to leases were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zfxZ7PzSLw69" style="display: none">Schedule of Other Information Related to Leases</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20251031_z4CECsEGjz6j" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zZefUyLfwdwl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_90C_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20250430_z6MaZ8wqYz22">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="padding-bottom: 1pt; text-align: center"><b>October 31,</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="padding-bottom: 1pt; text-align: center"><b>April 30,</b></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2025</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2024</b></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Weighted-average remaining lease term <br/> (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_909_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251031_zQ4ET0db9Rn" title="Weighted average remaining lease term years">3.76</span></p></td><td style="width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"></td><td style="width: 15%; text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_900_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20240430_z08gpYuHEgAk" title="Weighted average remaining lease term years">4.13</span></p></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp_zv9rzvBQnELh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.3</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A1_z5bQdWmNVMG" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_897_eus-gaap--LeaseCostTableTextBlock_zpOeXRFuNwC4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s operating and finance right-of-use assets and lease liabilities are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_z9TtGhddk6bd" style="display: none">Schedule of Lease Cost</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20251031_zG8qrhAF5LFa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zizb3AHXQnZg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_90C_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20250430_zMwwzE1qlPIk">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseRightOfUseAsset_iI_zd0ZPfVRhj9f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Operating lease right-of-use asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">1,821,417</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">1,890,013</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiabilityCurrent_iI_zwcmGEVwi8Oe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease liability, current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">671,520</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">528,914</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_zIAM3Xnmu1ca" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liability, long-term</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,187,373</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left">$</td><td style="text-align: right">1,374,639</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_498_20250607__20251031_zD4faUhfo6jb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_491_20250501__20250606__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zPmohrf8GgM5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_908_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250501__20250606_zaXL9jWiO437">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_497_20240501__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zLAvyZv5yxgd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_906_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zOBkYoQD7m9f">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from</p> <p style="margin-top: 0; margin-bottom: 0">June 7 through</p> <p style="margin-top: 0; margin-bottom: 0">October 31, 2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Period from</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>May 1 through</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 6, 2025</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeasePayments_zoetqTukycc7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Cash paid for operating lease</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">260,496</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">91,749</td><td style="width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">333,881</td><td style="width: 1%; text-align: left"> </td></tr> </table> Predecessor 1821417 1890013 671520 528914 1187373 1374639 Predecessor Predecessor 260496 91749 333881 <p id="xdx_89A_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zcTSz1N3VNR7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future annual minimum lease payments under non-cancellable operating leases as of October 31, 2025, were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zqqs9I66ut4h" style="display: none">Schedule of Future Annual Minimum Lease Payments</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of October 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251031_z4YV9CUYTuHa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Years ended April 30,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maLOLLPzDPL_zniXDzIRDYi7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">2026 (excluding the six months ended October 31, 2025)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">395,700</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzDPL_zSwEEJlGpAye" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">710,746</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzDPL_zICt4BXPyk6k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">486,199</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzDPL_zejNDtIx8nOl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">306,056</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_maLOLLPzDPL_z5CMxy8CQSg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">165,044</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterFour_iI_maLOLLPzDPL_z6DMiytx7jU4" style="vertical-align: bottom; background-color: White"> <td>Thereafter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,314</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzDPL_zuHihgh6SXH9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,264,059</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zBDhoRpEKGXk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(453,407</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiability_iTI_zoszQooDNVw4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Present value of minimum lease payments</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,810,652</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 395700 710746 486199 306056 165044 200314 2264059 453407 1810652 <p id="xdx_891_ecustom--LeaseOtherInformationTableTextBlock_z3h1WK6JPhIa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other information related to leases were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zfxZ7PzSLw69" style="display: none">Schedule of Other Information Related to Leases</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20251031_z4CECsEGjz6j" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zZefUyLfwdwl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_90C_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20250430_z6MaZ8wqYz22">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="padding-bottom: 1pt; text-align: center"><b>October 31,</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="padding-bottom: 1pt; text-align: center"><b>April 30,</b></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2025</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2024</b></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Weighted-average remaining lease term <br/> (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_909_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251031_zQ4ET0db9Rn" title="Weighted average remaining lease term years">3.76</span></p></td><td style="width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"></td><td style="width: 15%; text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_900_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20240430_z08gpYuHEgAk" title="Weighted average remaining lease term years">4.13</span></p></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp_zv9rzvBQnELh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.3</td><td style="text-align: left">%</td></tr> </table> Predecessor P3Y9M3D P4Y1M17D 0.061 0.063 <p id="xdx_80B_eus-gaap--InventoryDisclosureTextBlock_zuatPyfSJ048" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 6 – <span id="xdx_824_z8kh4lw4vQZ6">Inventory</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_89D_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zb0tj9i5urjk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inventory consisted of the following:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B4_zWobxs053z6" style="display: none">Schedule of Inventory</span></b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20251031_zq5Q7T2GKlI4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zglD6Tu6sVO6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_906_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20250430_zkkyQ3QpcrUj">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Audited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--InventoryFinishedGoods_iI_maINztRx_zHivMR65M9T9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Finished goods</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">3,296,614</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">3,241,365</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InventoryRawMaterials_iI_maINztRx_zBZs1KSxtneb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Raw materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">300,731</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">264,027</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InventoryValuationReserves_iNI_di_msINztRx_z0G8Tc3wFDg3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Allowance for excess &amp; obsolete inventory</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(108,988</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(211,445</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--InventoryNet_iTI_mtINztRx_zp4eYBeTr5Zb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Inventory, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,488,357</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,293,947</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zGQRw1Wuspaa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Labor and overhead expenses of $<span id="xdx_908_eus-gaap--CostOfGoodsAndServicesSoldOverhead_c20250501__20251031_zqeoKdonjmNj">541,672 and $<span id="xdx_905_eus-gaap--CostOfGoodsAndServicesSoldOverhead_c20240501__20250430_z4EUCD2FHvfg">617,982</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">were included in the inventory balance as of October 31, 2025 (Successor), and April 30, 2025 (Predecessor), respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advance payments on inventory purchases are recorded in prepaid expenses until title for such inventory passes to the Company. Prepaid expenses included approximately $<span id="xdx_90F_eus-gaap--PrepaidExpenseCurrent_iI_c20251031_zr8BJGu0wDJl" title="Prepaid expenses">525,032</span> and $<span id="xdx_903_eus-gaap--PrepaidExpenseCurrent_iI_c20250430_z0vjhHXgqI2k" title="Prepaid expenses">0</span> in advance payments for inventory as of October 31, 2025 (Successor), and April 30, 2025 (Predecessor), respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zb0tj9i5urjk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inventory consisted of the following:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B4_zWobxs053z6" style="display: none">Schedule of Inventory</span></b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20251031_zq5Q7T2GKlI4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zglD6Tu6sVO6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_906_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20250430_zkkyQ3QpcrUj">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Audited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--InventoryFinishedGoods_iI_maINztRx_zHivMR65M9T9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Finished goods</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">3,296,614</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">3,241,365</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InventoryRawMaterials_iI_maINztRx_zBZs1KSxtneb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Raw materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">300,731</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">264,027</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InventoryValuationReserves_iNI_di_msINztRx_z0G8Tc3wFDg3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Allowance for excess &amp; obsolete inventory</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(108,988</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(211,445</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--InventoryNet_iTI_mtINztRx_zp4eYBeTr5Zb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Inventory, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,488,357</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,293,947</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Predecessor 3296614 3241365 300731 264027 108988 211445 3488357 3293947 541672 617982 525032 0 <p id="xdx_805_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zOfAbXjqYNXl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 7 – <span id="xdx_824_z4K6q9DaTfO8">Property and Equipment</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_899_eus-gaap--PropertyPlantAndEquipmentTextBlock_zyw05GRXRRd2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B4_zDe2OF22bsua" style="display: none">Schedule of Property and Equipment</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251031_z6PxJ46iR0ji" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zcnSSADIwpn3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_906_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20250430_zahyF2PP8XJ">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">(Unaudited)</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Audited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zE6wfmGGwFP2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: justify">Vehicles</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">152,444</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">139,524</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zRHwdYSUue66" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">305,694</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">310,320</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zwIIbgqLgIad" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Computer equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">92,957</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">70,679</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zkaHQDlZnaze" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Machinery and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,574</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1239">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zDek9RFJCm4j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Furniture and fixtures</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">194,998</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">194,895</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SignsMember_zA0hHYvW8Fv" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Signs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">214,543</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">214,464</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerSoftwareMember_zNSKLYFgFJx1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Computer software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">144,964</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">141,024</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzCtH_zdoYtoai1l0c" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Property and equipment at cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,146,174</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,070,906</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzCtH_zyshfKSUREpj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accumulated depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(874,002</td><td style="text-align: left">)</td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">(748,026</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzCtH_ziDwOCQVRyx2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Property and equipment, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">272,172</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">322,880</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_z3f8r8CbR3Ef" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation expense for the period from June 7, 2025, through October 31, 2025 (Successor) was $<span id="xdx_906_eus-gaap--Depreciation_c20250607__20251031_zBshObnGm5t8" title="Depreciation expenses">257,168</span>. For the period from May 1, 2025, through June 6, 2025 (Predecessor) depreciation expense was $<span id="xdx_900_eus-gaap--Depreciation_c20250501__20250606_z0pQVEoSDk7d" title="Depreciation expenses">6,746</span> and for the six months ended October 31, 2024 (Predecessor), depreciation expense was $<span id="xdx_900_eus-gaap--Depreciation_c20240501__20241031_zO91zy3cQ3vc" title="Depreciation expenses">50,307</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--PropertyPlantAndEquipmentTextBlock_zyw05GRXRRd2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B4_zDe2OF22bsua" style="display: none">Schedule of Property and Equipment</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251031_z6PxJ46iR0ji" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zcnSSADIwpn3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_906_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20250430_zahyF2PP8XJ">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">(Unaudited)</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Audited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zE6wfmGGwFP2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: justify">Vehicles</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">152,444</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">139,524</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zRHwdYSUue66" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">305,694</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">310,320</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zwIIbgqLgIad" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Computer equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">92,957</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">70,679</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zkaHQDlZnaze" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Machinery and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,574</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1239">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zDek9RFJCm4j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Furniture and fixtures</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">194,998</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">194,895</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SignsMember_zA0hHYvW8Fv" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Signs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">214,543</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">214,464</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerSoftwareMember_zNSKLYFgFJx1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Computer software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">144,964</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">141,024</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzCtH_zdoYtoai1l0c" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Property and equipment at cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,146,174</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,070,906</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzCtH_zyshfKSUREpj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accumulated depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(874,002</td><td style="text-align: left">)</td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">(748,026</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzCtH_ziDwOCQVRyx2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Property and equipment, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">272,172</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">322,880</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> Predecessor 152444 139524 305694 310320 92957 70679 40574 194998 194895 214543 214464 144964 141024 1146174 1070906 874002 748026 272172 322880 257168 6746 50307 <p id="xdx_80A_eus-gaap--AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_zLpdNZtsLC9g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 8 – <span id="xdx_820_zJ6b8DhatjO1">Accounts Payable and Accrued Liabilities</span></b></span></p> <p id="xdx_899_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zYnOfNR5fKU2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zGKHKHBM3zbg" style="display: none">Schedule of Accounts Payable and Accrued Liabilities</span></b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251031_z8FNUPSfRgWk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_90C_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20251031__20251031_zAP9wdt6jAwd">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zvldOQE9aEma" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_902_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250430__20250430_zUGr2zz4yRvk">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Audited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--AccountsPayableCurrent_iI_maAPAALztwN_zSf9Cf5kmtw1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Accounts payable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">1,256,625</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">740,096</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maAPAALztwN_zghMb8kWmRC5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued payroll liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">623,163</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">1,449,200</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ProductWarrantyAccrualClassifiedCurrent_iI_maAPAALztwN_z2dtfU4gh86g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Product warranty accrual</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49,124</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1278">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_maAPAALztwN_zTs2p3JAVnCk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sales tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">203,309</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">66,149</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maAPAALztwN_zUgcY4GLokdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other accrued expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,372,834</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1284">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_iTI_mtAPAALztwN_z8ze8gGnfGgf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,505,055</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,255,445</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_z48dEGCTfvK6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_899_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zYnOfNR5fKU2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zGKHKHBM3zbg" style="display: none">Schedule of Accounts Payable and Accrued Liabilities</span></b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251031_z8FNUPSfRgWk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_90C_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20251031__20251031_zAP9wdt6jAwd">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zvldOQE9aEma" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_902_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250430__20250430_zUGr2zz4yRvk">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Audited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--AccountsPayableCurrent_iI_maAPAALztwN_zSf9Cf5kmtw1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Accounts payable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">1,256,625</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">740,096</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maAPAALztwN_zghMb8kWmRC5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued payroll liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">623,163</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">1,449,200</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ProductWarrantyAccrualClassifiedCurrent_iI_maAPAALztwN_z2dtfU4gh86g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Product warranty accrual</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49,124</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1278">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_maAPAALztwN_zTs2p3JAVnCk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sales tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">203,309</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">66,149</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maAPAALztwN_zUgcY4GLokdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other accrued expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,372,834</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1284">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_iTI_mtAPAALztwN_z8ze8gGnfGgf" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,505,055</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,255,445</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Successor Predecessor 1256625 740096 623163 1449200 49124 203309 66149 3372834 5505055 2255445 <p id="xdx_800_eus-gaap--RevenueFromContractWithCustomerTextBlock_zFy5mmLB7I6k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 9- <span id="xdx_82A_zbu6N7DTlcZh">Revenue</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_897_eus-gaap--DisaggregationOfRevenueTableTextBlock_zNcDfJm4qhDd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the Company’s revenue by source:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zTekIWgUgm81" style="display: none">Schedule of Revenue by Source</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_493_20250801__20251031_zwR2TFAUaAs6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20240801__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_z7VghhqCJ4Ik" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_90C_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240801__20241031_zVs43nWykutf">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20250607__20251031_zcl2rDHw2LW1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20250501__20250606__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zbVyhpdItEJa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFJldmVudWUgYnkgU291cmNlIChEZXRhaWxzKQA_" id="xdx_907_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250501__20250606_zsAoLnrjpxc">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_497_20240501__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zIos3l9hY8td" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_90F_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_z7L2W6RRvuF6">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from</p> <p style="margin-top: 0; margin-bottom: 0">June 7 through<br/> October 31,</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from</p> <p style="margin-top: 0; margin-bottom: 0">May 1 through<br/> June 6,</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--EquipmentAndSystemsSalesMember_zx7zIup2aBw1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">CEA equipment and systems sales</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">193,743</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1297">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">300,570</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1299">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1300">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--EngineeringAndOtherServicesMember_zItjTc5hE9l4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">CEA engineering and other services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,846</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1303">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">87,993</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1305">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1306">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--OtherSalesMember_z0MZqofBfzl2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">CEA other sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,839</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1309">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,827</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1311">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1312">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--RetailVapeSalesMember_zAJu2Aukg6fc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Retail Vape sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,240,755</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1315">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,827,892</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">2,761,077</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,800,544</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--EcommerceVapeSalesMember_zhCFHlIH1cra" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">E-commerce Vape sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">443,887</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">6,698,217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">278,070</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">165,818</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,267,923</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--FactoryDirectWholesaleVapeSalesMember_zLf5y6UIOhX7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Factory direct wholesale Vape sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">204,415</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">532,236</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">203,621</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">794</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">214,064</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--FranchiseFeeVapeSalesMember_zQ95qjCSl4R8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Franchise fee Vape sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1332">-</span></span></td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">206,298</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1334">-</span></span></td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1335">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122,887</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--OtherVapeSalesMember_zyzVYWrnWxIi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other Vape sales</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1338">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1339">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1340">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1341">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1342">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zh0CgIoIlqGc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,143,485</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,436,751</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">11,720,973</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,927,689</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">14,405,418</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A4_zLKVcEnnkYGf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of October 31, 2025 (Successor), and April 30, 2025 (Predecessor), the allowance for doubtful accounts was $<span id="xdx_90E_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_c20251031_zGEJkGzsMrmj" title="Allowance for doubtful accounts">92,942</span> (successor) and $ <span id="xdx_90D_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_c20250430_zNgWV8wjogXc" title="Allowance for doubtful accounts">0</span> (predecessor), respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of October 31, 2025 (Successor), the Company’s remaining performance obligations, or backlog, was approximately $<span id="xdx_903_eus-gaap--RevenueRemainingPerformanceObligation_iI_c20251031_z0IkgESfGezl" title="Revenue remaining performance obligation">902,000</span>, an increase of $<span id="xdx_90C_eus-gaap--RevenueRemainingPerformanceObligation_iI_c20250606__srt--RangeAxis__srt--MinimumMember_zLQbaU0pyba6" title="Revenue remaining performance obligation">176,000</span> from the June 6, 2025 (Successor) backlog of $<span id="xdx_902_eus-gaap--RevenueRemainingPerformanceObligation_iI_c20250606_zXhYOBR6LqEd" title="Revenue remaining performance obligation">726,000</span>. The increase was primarily the result of large booking from one customer during for the period. There is significant uncertainty regarding the timing of the Company’s recognition of revenue on its remaining performance obligations, and there is no certainty that these will result in actual revenues.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTableTextBlock_zMm5AWSLgBI6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The remaining performance obligations expected to be recognized through fiscal year 2026 are as follows (Successor):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zch7zZhl5vUk" style="display: none">Schedule of Remaining Performance Obligations Expected to be Recognized</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_497_20251031__us-gaap--AwardDateAxis__custom--QThreeThousandAndTwentySixMember_zNG5qRFP5jsg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Q3FY26</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> </tr> <tr id="xdx_405_ecustom--RevenueRemainingPerformanceObligationsRelatedToPartialEquipmentAndEngineeringPaidContracts_iI_zSC9raKCeFCk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; width: 80%; text-align: left">Remaining performance obligations related to partial equipment &amp; engineering paid contracts</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">901,786</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td> </tr> <tr id="xdx_402_eus-gaap--RevenueRemainingPerformanceObligation_iI_zh9QFxPtV1o8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total remaining performance obligations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">901,786</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> </tr> </table> <p id="xdx_8A6_zYMObE21jyeh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Geographic Information</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--RevenueFromExternalCustomersByGeographicAreasTableTextBlock_zBRdSmxHGvs4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company classifies sales by customers’ locations in two geographic regions: the United States and Canada.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zN2r8J5iSqp6" style="display: none">Schedule of Sales by Customers Locations in Geographic Regions</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250801__20251031_zjyHHMnZHuc7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240801__20241031_zn8nEHWrwAmg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250607__20251031_zWaD66pCpQJ2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Period from</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 7 through</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>October 31, </b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250501__20250606_z6wLAZiCp0Vb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from</p> <p style="margin-top: 0; margin-bottom: 0">May 1 through<br/> June 6,</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240501__20241031_z02rhIaGdkrd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__country--US_zQYKTWUNWEXc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; font-weight: bold; text-align: left">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">254,428</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1369">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">411,389</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1371">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1372">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__country--CA_zfpt7gd0igMf" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">Canada</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,889,057</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,436,751</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,309,584</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,927,689</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,405,418</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--Revenues_zOWLWTaFpJsc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,143,485</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,436,751</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">11,720,973</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,927,689</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">14,405,418</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A1_zAdCVlWoG8Xk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_897_eus-gaap--DisaggregationOfRevenueTableTextBlock_zNcDfJm4qhDd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the Company’s revenue by source:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zTekIWgUgm81" style="display: none">Schedule of Revenue by Source</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_493_20250801__20251031_zwR2TFAUaAs6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20240801__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_z7VghhqCJ4Ik" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_90C_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240801__20241031_zVs43nWykutf">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20250607__20251031_zcl2rDHw2LW1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20250501__20250606__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zbVyhpdItEJa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFJldmVudWUgYnkgU291cmNlIChEZXRhaWxzKQA_" id="xdx_907_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250501__20250606_zsAoLnrjpxc">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_497_20240501__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zIos3l9hY8td" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_90F_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_z7L2W6RRvuF6">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from</p> <p style="margin-top: 0; margin-bottom: 0">June 7 through<br/> October 31,</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from</p> <p style="margin-top: 0; margin-bottom: 0">May 1 through<br/> June 6,</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--EquipmentAndSystemsSalesMember_zx7zIup2aBw1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">CEA equipment and systems sales</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">193,743</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1297">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">300,570</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1299">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1300">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--EngineeringAndOtherServicesMember_zItjTc5hE9l4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">CEA engineering and other services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,846</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1303">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">87,993</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1305">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1306">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--OtherSalesMember_z0MZqofBfzl2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">CEA other sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,839</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1309">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,827</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1311">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1312">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--RetailVapeSalesMember_zAJu2Aukg6fc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Retail Vape sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,240,755</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1315">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,827,892</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">2,761,077</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,800,544</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--EcommerceVapeSalesMember_zhCFHlIH1cra" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">E-commerce Vape sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">443,887</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">6,698,217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">278,070</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">165,818</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,267,923</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--FactoryDirectWholesaleVapeSalesMember_zLf5y6UIOhX7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Factory direct wholesale Vape sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">204,415</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">532,236</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">203,621</td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">794</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">214,064</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--FranchiseFeeVapeSalesMember_zQ95qjCSl4R8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Franchise fee Vape sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1332">-</span></span></td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right">206,298</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1334">-</span></span></td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1335">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122,887</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--OtherVapeSalesMember_zyzVYWrnWxIi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other Vape sales</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1338">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1339">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1340">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1341">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1342">-</span></span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zh0CgIoIlqGc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,143,485</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,436,751</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">11,720,973</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,927,689</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">14,405,418</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Predecessor Predecessor Predecessor 193743 300570 38846 87993 21839 22827 6240755 10827892 2761077 12800544 443887 6698217 278070 165818 1267923 204415 532236 203621 794 214064 206298 122887 7143485 7436751 11720973 2927689 14405418 92942 0 902000 176000 726000 <p id="xdx_89A_eus-gaap--RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTableTextBlock_zMm5AWSLgBI6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The remaining performance obligations expected to be recognized through fiscal year 2026 are as follows (Successor):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zch7zZhl5vUk" style="display: none">Schedule of Remaining Performance Obligations Expected to be Recognized</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_497_20251031__us-gaap--AwardDateAxis__custom--QThreeThousandAndTwentySixMember_zNG5qRFP5jsg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Q3FY26</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> </tr> <tr id="xdx_405_ecustom--RevenueRemainingPerformanceObligationsRelatedToPartialEquipmentAndEngineeringPaidContracts_iI_zSC9raKCeFCk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; width: 80%; text-align: left">Remaining performance obligations related to partial equipment &amp; engineering paid contracts</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">901,786</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td> </tr> <tr id="xdx_402_eus-gaap--RevenueRemainingPerformanceObligation_iI_zh9QFxPtV1o8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">Total remaining performance obligations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">901,786</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> </tr> </table> 901786 901786 <p id="xdx_896_eus-gaap--RevenueFromExternalCustomersByGeographicAreasTableTextBlock_zBRdSmxHGvs4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company classifies sales by customers’ locations in two geographic regions: the United States and Canada.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zN2r8J5iSqp6" style="display: none">Schedule of Sales by Customers Locations in Geographic Regions</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250801__20251031_zjyHHMnZHuc7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240801__20241031_zn8nEHWrwAmg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250607__20251031_zWaD66pCpQJ2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Period from</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 7 through</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>October 31, </b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250501__20250606_z6wLAZiCp0Vb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from</p> <p style="margin-top: 0; margin-bottom: 0">May 1 through<br/> June 6,</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240501__20241031_z02rhIaGdkrd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended October 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__country--US_zQYKTWUNWEXc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; font-weight: bold; text-align: left">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">254,428</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1369">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">411,389</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1371">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1372">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Revenues_hsrt--StatementGeographicalAxis__country--CA_zfpt7gd0igMf" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 1pt">Canada</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,889,057</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,436,751</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,309,584</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,927,689</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,405,418</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--Revenues_zOWLWTaFpJsc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,143,485</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,436,751</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">11,720,973</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,927,689</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">14,405,418</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 254428 411389 6889057 7436751 11309584 2927689 14405418 7143485 7436751 11720973 2927689 14405418 <p id="xdx_80A_eus-gaap--DebtDisclosureTextBlock_zgCLPTHRABsh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 10 – <span id="xdx_82B_zPkX7wbfuWG8">Note Payable</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the Company’s acquisition of Fat Panda Inc. on June 6, 2025, effective June 4, 2025, the Company entered into an interim loan facility with CEAD Panda Lender LLC, under which it borrowed $<span id="xdx_90B_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember_zqKdAp4d9XT9" title="Loan Borrowed">4,000,000</span>. The loan due date is December 3, 2025, subject to the right of the Company to prepay any amount of the borrowed funds together with outstanding unpaid interest and a prepayment penalty. The loan is interest only, until the maturity date, payable monthly. <span id="xdx_90A_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250606__20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember_zkGt9rnvKx5l" title="Interest rate description">The interest rate is 3% for the first three months and then 2% per month thereafter of the outstanding loan amount</span>. The loan is secured by a first lien on all the assets of the Company, 16728502 CANADA INC and Fat Panda Ltd., now amalgamated as Fat Panda Ltd., subject to certain exceptions and permitted liens and permitted dispositions. The vendor notes of the Fat Panda sellers are subordinate to the security interests granted under the security agreements related to the loan facility. The loan facility has typical representations and warranties of the borrower, default provisions, and various covenants, including the covenant to maintain at least $<span id="xdx_90B_eus-gaap--Cash_iI_c20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember_zW52EaQTmYq6" title="cash">1,500,000</span> in cash and have a minimum of $<span id="xdx_902_ecustom--WorkingCapital_iI_c20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember_zpSeqAKDJgV" title="Working capital">4,000,000</span> in working capital (inclusive of any cash).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid interest and legal fees totalling $<span id="xdx_909_eus-gaap--LegalFees_c20250501__20250731__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember_zhAIZYd5mlE3" title="Legal fees">449,718</span> were incurred in respect of this promissory note and have been accounted for as debt discount costs and are being amortized over the life of the promissory note, prepaid interest as incurred and legal fees on a straight-line basis which equates to the effective interest rate method.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the period August 1, 2025 – October 31, 2025, interest of $<span id="xdx_905_eus-gaap--InterestExpenseDebt_c20250801__20251031_z3hRZG7fVGMd" title="Debt interest">286,667</span> was incurred and debt discount of $ <span id="xdx_905_eus-gaap--AmortizationOfDebtDiscountPremium_c20250801__20251031_zBsypBv64fb" title="Debt discount">44,859</span> was amortized in respect of the promissory note during the period.</span></p> <p id="xdx_895_eus-gaap--ScheduleOfDebtTableTextBlock_zWC6iCfczH8k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zR6RVL7WQry4" style="display: none">Schedule of Promissory Note</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251031_zJfrPEHkRVkb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_906_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20251031__20251031_z9ZhvTvWOfQe">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zmByU68AYWVk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_90C_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250430__20250430_zNkhgo6B5URf">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Audited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentCarryingAmount_iI_zPLhZ1SX6g9e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Promissory Note</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">4,000,000</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">        <span style="-sec-ix-hidden: xdx2ixbrl1407">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_di_z5D08zRVzef7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: debt discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(26,280</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1410">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DeferredFinanceCostsNet_iI_zVRd5q9SrJqh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Promissory Note, net of discount</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,973,720</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1413">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_z57ADtB48Ez6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 4000000 The interest rate is 3% for the first three months and then 2% per month thereafter of the outstanding loan amount 1500000 4000000 449718 286667 44859 <p id="xdx_895_eus-gaap--ScheduleOfDebtTableTextBlock_zWC6iCfczH8k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zR6RVL7WQry4" style="display: none">Schedule of Promissory Note</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251031_zJfrPEHkRVkb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_906_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20251031__20251031_z9ZhvTvWOfQe">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zmByU68AYWVk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_90C_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250430__20250430_zNkhgo6B5URf">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Audited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentCarryingAmount_iI_zPLhZ1SX6g9e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Promissory Note</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">4,000,000</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">        <span style="-sec-ix-hidden: xdx2ixbrl1407">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_di_z5D08zRVzef7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: debt discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(26,280</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1410">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DeferredFinanceCostsNet_iI_zVRd5q9SrJqh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Promissory Note, net of discount</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,973,720</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1413">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Successor Predecessor 4000000 26280 3973720 <p id="xdx_806_eus-gaap--ShortTermDebtTextBlock_zcIspwxpkrWk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 11 – <span id="xdx_82C_zMfpeA6897L9">Related Party Note Payable and Related Party Convertible Note Payable</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the Company’s acquisition of Fat Panda Inc. on June 6, 2025, the Company issued three notes payable to selling shareholders, one of whom is now an employee of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The first note payable was issued in the principal amount of $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_c20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember_zU5FFelLnuZk" title="Debt instrument face amount">360,850</span> ($<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_uCAD_c20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember_ze85LjwGDYDc" title="Debt instrument face amount">500,000</span> CAD) to certain selling shareholders of Fat Panda Inc. The note is interest free and repayable in full within 15 days following the date that Canada Revenue Agency issues a letter confirming that there is no tax liability in respect of an issue identified in the Purchase Agreement for acquisition of the Fat Panda group of companies. If the letter from Canada Revenue Agency indicates that there is a tax liability in respect of an issue identified in the Purchase Agreement, the amount of the loan repayment will be reduced, dollar for dollar, by the amount of any tax liability assessed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The second note payable was issued as a promissory note in the principal amount of $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_c20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember_zpbPIYeOWw6">743,351</span> ($<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_uCAD_c20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember_z7gxe9StvNth">1,030,000</span> CAD) to the President of Fat Panda, a former owner and current employee of the Company. The note bears interest at <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250606__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember_zo2K3uMX0kyd">7</span>% per annum, with interest payable monthly. The note has a maturity date of <span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDate_c20250606__20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember_zO1IRCtBawgl">November 30, 2026</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the period August 1, 2025 – October 31, 2025, interest of $<span id="xdx_907_eus-gaap--InterestExpenseDebt_c20250801__20251031__us-gaap--ExtinguishmentOfDebtAxis__custom--PromissoryNoteMember_zWcCOJw7OUui" title="Debt interest">18,024</span> and amortization of debt discount $ <span id="xdx_903_eus-gaap--AmortizationOfDebtDiscountPremium_c20250801__20251031__us-gaap--ExtinguishmentOfDebtAxis__custom--PromissoryNoteMember_zeRf1l1kKCvj" title="Amortization of debt discount">29,349</span> were incurred and expensed in the condensed consolidated statement of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below represents the outstanding amount of promissory note:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <p id="xdx_891_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_zEuD1jPQDep" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zPFsnKjgjeE8" style="display: none">Schedule of Promissory Note Related Party</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251031_zXA6nbVNLx4i" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_905_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20251031__20251031_zdxhNj5eUa7j">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zPMHqGJbT2Dd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_900_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250430__20250430_zRZ5WaxWg4Ie">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Audited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--DebtInstrumentCarryingAmount_iI_hus-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember_zTTLv67bRLo5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Promissory Note</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">735,214</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">      <span style="-sec-ix-hidden: xdx2ixbrl1434">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_di_hus-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember_zNUwSsBVnss9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: debt discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(78,119</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1437">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredFinanceCostsNet_iI_hus-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember_z4xHSCq5BnCk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Promissory Note, net of discount</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">657,095</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1440">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_zrPoWguVGTv1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The third note payable, also issued to the President of Fat Panda, is a convertible promissory note with a principal amount of $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_c20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ConvertibleDebtMember_zD2TjWdyF8Kj">743,351</span> ($<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_uCAD_c20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ConvertibleDebtMember_zjme88FNxdRa">1,030,000</span> CAD). The note bears interest at <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250606__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ConvertibleDebtMember__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember_zscqnL8aIsrh">7</span>% per annum and is convertible, at the Lenders option, in shares of the Company’s common stock at a conversion price of $<span id="xdx_902_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20250606__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ConvertibleDebtMember_zn58V1xXOas8">19</span> per share. If no conversion notice is submitted to the Company by the Lender before the due date of his intent to convert the principal amount, the entire principal plus interest shall become due on June 1, 2027.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the period August 1, 2025 – October 31, 2025 (Successor), interest of $<span id="xdx_90C_eus-gaap--InterestExpenseDebt_c20250801__20251031__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ConvertibleDebtMember_zHNupurSWVKi" title="Debt interest">18,024</span> and amortization of debt discount $<span id="xdx_90B_eus-gaap--AmortizationOfDebtDiscountPremium_c20250801__20251031__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ConvertibleDebtMember_zt7sKNVYRPSj" title="Amortization of debt discount"> 1,872</span> were incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The table below represents the outstanding amount of convertible promissory note:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_892_eus-gaap--ConvertibleDebtTableTextBlock_zi9qyuxotnl8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zfiJyOujofdf" style="display: none">Schedule of Convertible Promissory Note-Related Party</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250731_ziwwJDMTPCjb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_904_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20251031__20251031_z5y2paip9Mp7">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zTAPdClV3BS8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_906_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250430__20250430_z4bAlUn12FSk">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Audited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentCarryingAmount_iI_hus-gaap--ExtinguishmentOfDebtAxis__us-gaap--ConvertibleDebtMember_zLyLxLf3eL6k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Convertible Promissory Note</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">735,214</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">       <span style="-sec-ix-hidden: xdx2ixbrl1455">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_di_hus-gaap--ExtinguishmentOfDebtAxis__us-gaap--ConvertibleDebtMember_zeZ5U98NXXH6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: debt discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,292</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1458">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredFinanceCostsNet_iI_hus-gaap--ExtinguishmentOfDebtAxis__us-gaap--ConvertibleDebtMember_zdtGplHECOG9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Convertible Promissory Note, net of discount</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">727,922</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1461">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_z0hyEfBVTgFg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 360850 500000 743351 1030000 0.07 2026-11-30 18024 29349 <p id="xdx_891_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_zEuD1jPQDep" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zPFsnKjgjeE8" style="display: none">Schedule of Promissory Note Related Party</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251031_zXA6nbVNLx4i" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_905_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20251031__20251031_zdxhNj5eUa7j">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zPMHqGJbT2Dd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_900_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250430__20250430_zRZ5WaxWg4Ie">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Audited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--DebtInstrumentCarryingAmount_iI_hus-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember_zTTLv67bRLo5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Promissory Note</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">735,214</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">      <span style="-sec-ix-hidden: xdx2ixbrl1434">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_di_hus-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember_zNUwSsBVnss9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: debt discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(78,119</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1437">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredFinanceCostsNet_iI_hus-gaap--ExtinguishmentOfDebtAxis__us-gaap--LongTermDebtMember_z4xHSCq5BnCk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Promissory Note, net of discount</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">657,095</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1440">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Successor Predecessor 735214 78119 657095 743351 1030000 0.07 19 18024 1872 <p id="xdx_892_eus-gaap--ConvertibleDebtTableTextBlock_zi9qyuxotnl8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zfiJyOujofdf" style="display: none">Schedule of Convertible Promissory Note-Related Party</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250731_ziwwJDMTPCjb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_904_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20251031__20251031_z5y2paip9Mp7">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250430__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zTAPdClV3BS8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_906_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250430__20250430_z4bAlUn12FSk">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">October 31,</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">April 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td><td style="border-left: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Audited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="border-left: Black 1pt solid"> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentCarryingAmount_iI_hus-gaap--ExtinguishmentOfDebtAxis__us-gaap--ConvertibleDebtMember_zLyLxLf3eL6k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Convertible Promissory Note</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">735,214</td><td style="width: 2%; text-align: left"> </td><td style="border-left: Black 1pt solid; width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">       <span style="-sec-ix-hidden: xdx2ixbrl1455">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_di_hus-gaap--ExtinguishmentOfDebtAxis__us-gaap--ConvertibleDebtMember_zeZ5U98NXXH6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: debt discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,292</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="border-left: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1458">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="border-left: Black 1pt solid"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredFinanceCostsNet_iI_hus-gaap--ExtinguishmentOfDebtAxis__us-gaap--ConvertibleDebtMember_zdtGplHECOG9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Convertible Promissory Note, net of discount</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">727,922</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="border-left: Black 1pt solid; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1461">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Successor Predecessor 735214 7292 727922 <p id="xdx_802_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_za1nXQZu5tg2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 12 – <span id="xdx_82E_z7H1io4M91r8">Commitments and Contingencies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Litigation</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">On October 20, 2023, Sweet Cut Grow, LLC and Green Ice, LLC (collectively, “Claimant”) a client of the Company with which it had an equipment contract and engineering contract, filed a demand for arbitration asserting claims for breach of contract, breach of warranty, and unjust enrichment, and a demand for $1,049,280 in damages, plus interest (“Claims”). The Company denies all the Claims and has asserted a counterclaim. The Company believes Claimant is owed nothing as the Company fulfilled all its obligations under the contracts to Claimant, and further, that the negligence of a third-party supplier is the basis of the Claims. We are defending the Claims on the basis that we promptly addressed all problems, and that any issues with defective HVAC equipment are the responsibility of the third-party equipment manufacturer. The Company’s equipment contract with Claimant requires the parties to arbitrate their disputes under the rules of the American Arbitration Association (“AAA”). The arbitration will be heard in Denver, Colorado, with a conditional setting of January 19-22, 2026. The matter is in the discovery phase. The parties will pay their own legal fees and expenses. The Company intends to defend itself vigorously, believing there are no merits to the Claims as currently presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Given the current uncertainty around estimating the likelihood of success of claims and potential damages, we have not recorded an accrual for any potential loss related to these matters.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On or about April 17, 2024, Optima Consulting Services, LLC (the “Claimant”), a client of the Company with which it had an equipment contract and engineering contract, advised the Company of a potential claim related to work performed by the Company for Claimant and demanded mediation under the parties’ contract. On or about October 28, 2024, Claimant informed the Company it was asserting claims for negligent/defective design and breach of warranty, and alleges its damages exceeded $<span id="xdx_90E_eus-gaap--LossContingencyDamagesSoughtValue_c20241028__20241028_zpNnoYpWe1gh" title="Damages Claims">2,000,000</span> (Claims”). The Company denied all the Claims and that Claimant was entitled to any damages. The Company believed the Claimant was owed nothing as the Company fulfilled all its obligations under the contracts to Claimant and performed all work in line with all applicable standards. We believed all work was performed pursuant to the contract and any alleged issues that may have occurred were the result of actions by Claimant and/or third parties. The case was mediated with the American Arbitration Association (“AAA”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective May 9, 2025, the Company entered into a settlement agreement whereby all Claims by Optima Consulting Services, LLC against the Company were settled in full upon the payment of $<span id="xdx_907_eus-gaap--PaymentsForLegalSettlements_c20250509__20250509__dei--LegalEntityAxis__custom--OptimaConsultingServicesLLCMember_zI1MhTwJwXR8" title="Payments for legal settlements">250,000</span> by the Company to Optima Consulting Services, LLC. This settlement payment was funded by the Company’s insurance coverage, except for $<span id="xdx_901_ecustom--PaymentsForLegalSettlementsFundedByInsuranceCoverage_c20250509__20250509__dei--LegalEntityAxis__custom--OptimaConsultingServicesLLCMember_zclUZDDGm8tg" title="Payments for legal settlements funded by insurance coverage">35,000</span> in deductibles which we paid by the Company itself.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, in the normal course of its operations, the Company is subject to litigation matters and claims. Litigation can be expensive and disruptive to normal business operations. Moreover, the results of complex legal proceedings are difficult to predict, and the Company’s view of these matters may change in the future as the litigation and events related thereto unfold. The Company expenses legal fees as incurred. The Company records a liability for contingent losses when it is both probable that a liability has been incurred, and the amount of the loss is known. An unfavourable outcome to any legal matter, if material, could have an adverse effect on the Company’s operations or its financial position, liquidity or results of operations. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Canadian Payroll Taxes</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have estimated approximately $<span id="xdx_904_eus-gaap--LossContingencyLossInPeriod_c20250501__20251031_zPyGG8pjx9n7" title="Loss contingency accrual, provision">200,000</span> of potential liability-based work with the Canadian Revenue Agency to remedy a tax issue for the period spanned from 2020-2025, other than this issue, no other losses and no other provision for loss contingency have been recorded to date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As discussed in <i>Note 11 – Related Party Notes Payable and Related Pary Convertible Note Payable </i>above<i>, </i>the liability arising in respect of this issue will reduce the amount of the note repayment to the former owners of Fat Panda, dollar for dollar, by the amount of any tax liability assessed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Leases</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has 36 agreements to lease retail space, office and manufacturing space in Manitoba, Saskatchewan, and Ontario, Canada. The total square footage of these facilities is approximately <span id="xdx_90C_eus-gaap--AreaOfLand_iI_uSquareFoot_c20251031__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LeaseAgreementsMember_zltBJnBfkjde" title="Square footage of facility">49,076</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has a lease agreement for its manufacturing and office space in Louisville, CO. The total square footage of the facility is <span id="xdx_906_eus-gaap--AreaOfLand_iI_uSquareFoot_c20210728__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LeaseAgreementsMember_zYxFy57Tcftg" title="Square footage of facility">11,491</span>. Refer to <i>Note 5 – Leases </i>above.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Other Commitments</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the ordinary course of business, the Company enters into commitments to purchase inventory and may also provide indemnifications of varying scope and terms to customers, vendors, lessors, business partners, and other parties with respect to certain matters, including, but not limited to, losses arising out of the Company’s breach of such agreements, services to be provided by the Company, or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with its directors and certain of its officers and employees that will require the Company to, among other things, indemnify them against certain liabilities that may arise by reason of their status or service as directors, officers, or employees. The Company maintains director and officer insurance, which may cover certain liabilities arising from its obligation to indemnify its directors and certain of its officers and employees, and former officers, directors, and employees of acquired companies, in certain circumstances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 2000000 250000 35000 200000 49076 11491 <p id="xdx_80A_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zdlqxgTAI3Ac" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 13 – <span id="xdx_828_zA8yRFtshAHf">Shareholders’ Equity</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>PIPE Financing</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In August 2025, the Company entered into securities purchase agreements with a group of institutional and accredited investors pursuant to which it issued and sold shares of common stock and various classes of warrants (the “PIPE Warrants”) in a private placement (the “PIPE Transaction”):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250801__20250831__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zdR9mGrTl5U1" title="Stock issued during the period, shares">41,754,478</span> shares of common stock at a purchase price of $<span id="xdx_900_eus-gaap--SaleOfStockPricePerShare_iI_c20250831__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zGj1XlOza3Kj" title="Sale of stock purchase price">10.10</span> per share;</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250801__20250831__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zWNLGzyZ14Dl" title="Stock issued during the period, shares">7,750,510</span> pre-funded warrants, each exercisable for one share of common stock at an exercise price of $<span id="xdx_901_eus-gaap--StockOptionExercisePriceIncrease_c20250801__20250831__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z5Nt9pVwJtWd" title="Sale of stock purchase price">0.00001</span> per share (“Pre-Funded Warrants”); and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250801__20250831__us-gaap--ClassOfWarrantOrRightAxis__custom--StapledWarrantsMember_zu7riqqcmY3h" title="Stock issued during the period, shares">49,504,988 </span>stapled warrants (warrants issued together with shares), each exercisable at $<span id="xdx_901_eus-gaap--StockOptionExercisePriceIncrease_c20250801__20250831__us-gaap--ClassOfWarrantOrRightAxis__custom--StapledWarrantsMember_za0E3VMSCHX6" title="Sale of stock purchase price">15.15</span> per share (“Stapled Warrants”).</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 5, 2025, the Company closed a private investment in public equity (“PIPE”) transaction, which was settled through a combination of cash and digital assets. The Company received an aggregate $<span id="xdx_907_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20250805_zCajbe85odm6" title="Cash and cash equivalents">208.3</span> million in cash and cash equivalent proceeds, net of issuance costs and $<span id="xdx_906_eus-gaap--CryptoAssetCost_iI_pn5n6_c20250805_zKv3mViP13Sh" title="Digital assets">273.2</span> million in digital assets, consisting of USDT USDC and BTC. The Company allocated $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfWarrants_pn5n6_c20250805__20250805_zXqpDrRYRZD8" title="Warrant Liability">305.0</span> million in proceeds to warrant liability based on fair value of the Stapled Warrants with the remaining proceeds of $<span id="xdx_903_eus-gaap--AdjustmentsToAdditionalPaidInCapitalWarrantIssued_pn5n6_c20250805__20250805_zEDfNjQAAdb6" title="Additional paid up capital issued">195.0</span> million were recorded in additional paid-in capital, net of issuance costs. The Company incurred a total of $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn5n6_c20250805__20250805_zwgP9lu9QfBa" title="Issuance of costs">23.9</span> million in issuance costs. Issuance costs of $<span id="xdx_904_eus-gaap--OtherExpenses_pn5n6_c20250805__20250805_zZyomkViszp5">14.5</span> million were allocated to Stapled Warrants and recorded as an expense in consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>At-The-Market Offering</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 22, 2025, the Company entered into an At-The-Market Offering Agreement (the “ATM Agreement”) with Cantor Fitzgerald &amp; Co. (the “Agent”), pursuant to which the Company may offer and sell shares of its common stock having an aggregate offering price of up to $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20250922__20250922__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingAgreementMember__srt--RangeAxis__srt--MaximumMember_zkpxpz96M1E1" title="Aggregate offering price">25,000,000 </span>from time to time through the Agent, acting as the Company’s sales agent or principal. Sales under the ATM Agreement, if any, will be made by means of ordinary brokers’ transactions on Nasdaq or otherwise at market prices prevailing at the time of sale, or at prices related to prevailing market prices. Under the ATM agreement, the Company has provided the Agent with customary indemnification rights, and the Agent will be entitled to a commission of up to <span id="xdx_907_ecustom--GrossProceedsCommissionPercentage_c20250922__20250922__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingAgreementMember__srt--RangeAxis__srt--MaximumMember_zgEYf0ZoATec" title="Gross proceeds commission, percentage">3.0%</span> of the gross proceeds from each sale of the ATM Shares effectuated through or to the Agent.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the period ended October 31, 2025, the Company sold <span id="xdx_903_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250501__20251031_zEnpXzF4Ll7k" title="Sale of stock issued of shares">856,275</span> shares under the ATM program for net proceeds of $<span id="xdx_909_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20250501__20251031_z3PqOHrApW9g" title="Sale of stock issued of value">12.9</span> million, after deducting sales commissions and other offering costs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Share Repurchase Program</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 22, 2025, the Company entered into a Stock Repurchase Agreement with Cantor Fitzerald &amp; Co. pursuant to which the Company agreed to repurchase shares of its common stock. Under the terms of the agreement, the Company repurchased an aggregate of <span id="xdx_904_eus-gaap--StockRepurchasedDuringPeriodShares_c20250801__20251031__us-gaap--TypeOfArrangementAxis__custom--StockRepurchaseAgreementMember_zpnDtwre5u8g">529,170</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of its common stock during the quarter ended October 31, 2025, for a total purchase price of approximately $<span id="xdx_90E_eus-gaap--StockRepurchasedDuringPeriodValue_c20250801__20251031__us-gaap--TypeOfArrangementAxis__custom--StockRepurchaseAgreementMember_zOzSi5zPPPQb">4,385,567</span></span>. The repurchased shares were retired and are no longer outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The repurchase was funded through available cash on hand. The transaction was accounted for as a reduction of stockholders’ equity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Predecessor</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of April 30, 2025, the Company was authorized to issue <span id="xdx_908_eus-gaap--CommonStockSharesAuthorized_iI_c20250430__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zs8iX7YAS8Ze" title="Common stock shares, authorized">1,410</span> shares of common stock, all of which were issued and outstanding as of that date. No shares of common stock were issued by the Company during the period from May 1, 2025, through June 6, 2025 or during the six months ended October 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 41754478 10.10 7750510 0.00001 49504988 15.15 208300000 273200000 305000000.0 195000000.0 23900000 14500000 25000000 0.030 856275 12900000 529170 4385567 1410 <p id="xdx_80A_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zAIvHfjcTpZb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 14 – <span id="xdx_823_zmhxNSrP1Qw4">Equity Compensation</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Successor</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>2017 Equity Incentive Plan</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the Company’s 2017 Equity Incentive Plan, as may be modified and amended by the Company from time to time (the “2017 Equity Plan”), the Board of Directors (the “Board”) (or the compensation committee of the Board, if one is established) may award stock options, stock appreciation rights (“SARs”), restricted stock awards (“RSAs”), restricted stock unit awards (“RSUs”), shares granted as a bonus or in lieu of another award, and other stock-based performance awards. The 2017 Equity Plan allocates <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanMember_zkptlXQbddti" title="Number of options to purchase shares">27,778</span> shares of the Company’s common stock (“Plan Shares”) for issuance of equity awards under the 2017 Equity Plan. If any shares subject to an award are forfeited, expire, or otherwise terminate without issuance of such shares, the shares will, to the extent of such forfeiture, expiration, or termination, again be available for awards under the 2017 Equity Plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the period June 7, 2025 to October 31, 2025, <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanMember__us-gaap--DerivativeInstrumentRiskAxis__custom--NonQualifiedStockOptionMember__srt--TitleOfIndividualAxis__srt--DirectorMember_z3lcYT3q0dj3" title="Number of shares issued">1,111</span> non-qualifying stock options previously issued to certain directors expired, unexercised, <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanMember__us-gaap--DerivativeInstrumentRiskAxis__custom--NonQualifiedStockOptionMember__srt--TitleOfIndividualAxis__custom--NewEmployeesMember_zf4XvnzpVWAa" title="Number of shares issued">2,700</span> new non qualifying stock options were issued to new employees under the 2017 Equity Plan and 600 non-qualifying stock were issued to new employees under the 2017 Equity Plan options has been expired and forfeited.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of October 31, 2025, of the <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_c20250501__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanMember_zLTOTU259cm6" title="Number of shares authorized">27,778</span> shares authorized under the 2017 Plan for equity awards, <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20250501__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zpwmwf3r8f7c" title="Number of shares issued">13,641</span> shares have been issued, awards relating to <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanMember__us-gaap--DerivativeInstrumentRiskAxis__custom--NonQualifiedStockOptionMember_zQHxIk75dd63" title="Number of option remain outstanding">12,318</span> options remain outstanding, and <span id="xdx_90A_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanMember__us-gaap--DerivativeInstrumentRiskAxis__custom--NonQualifiedStockOptionMember_zGY12GaLBofb" title="Shares available for future equity awards">1,819</span> shares remain available for future equity awards.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>2021 Equity Incentive Plan</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 22, 2021, the Board approved the 2021 Equity Incentive Plan (the “2021 Equity Plan”), which was approved by the stockholders on July 22, 2021. The 2021 Equity Plan permits the Board to grant awards of up to <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20210322__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneEquityPlanMember_zzbHJRGvKEMe" title="Number of shares grant in period">55,556</span> shares of common stock. The 2021 Equity Plan provides for the grant of incentive stock options intended to qualify under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), non-qualified stock options, stock appreciation rights (“SARs”), restricted stock awards and restricted stock unit awards and other equity linked awards to our employees, consultants, and directors. If an equity award (i) expires or otherwise terminates without having been exercised in full or (ii) is settled in cash (<i>i.e.</i>, the holder of the award receives cash rather than stock), such expiration, termination or settlement will not reduce (or otherwise offset) the number of shares of common stock that may be issued pursuant to this Plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the period June 7, 2025, to October 31, 2025, <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250607__20251031__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneEquityPlanMember_z46ncILkBbk8" title="Shares issued during the period">5,320</span> restricted stock units were issued under the 2021 Equity Plan. During the period October 31, 2025, <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodValueRestrictedStockAwardGross_c20250501__20251031__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ztKAUuzPQrs6" title="Stock issued during the period restricted stock">2,660</span> shares of common stock were issued in settlement of vested restricted stock units issued to a director under the 2021 Equity Plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of October 31, 2025, of the <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_c20250501__20251031__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneEquityPlanMember_zzjo7VQVxAbg" title="Number of shares authorized">55,556</span> shares authorized under the 2021 Equity Plan, <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250501__20251031__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQvhzrTPVMg6" title="Shares issued during the period">35,927</span> shares have been issued in settlement of restricted stock units, awards relating to <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20250501__20251031__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneEquityPlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zqg6sBzb8hvg" title="Number of shares issued">8,324</span> non-qualified stock options, <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20251031__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneEquityPlanMember__us-gaap--DerivativeInstrumentRiskAxis__custom--NonQualifiedStockOptionMember_zJ1Wl1HGTg3h" title="Number of option remain outstanding">6,061</span> remaining outstanding, and <span id="xdx_900_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20251031__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneEquityPlanMember__us-gaap--DerivativeInstrumentRiskAxis__custom--NonQualifiedStockOptionMember_zr7Ef31sBm72" title="Shares available for future equity awards">5,234</span> shares remain available for future equity awards.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>2025 Equity Incentive Plan</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 25, 2025, the Company adopted the 2025 Equity Incentive Plan (the “2025 Equity Plan”). The 2025 Equity Plan permits the Board to grant awards of up to <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20250725__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveEquityPlanMember_zwRMll6vco61" title="Number of shares grant in period">525,000</span> shares of common stock. The 2025 Equity Plan provides for the grant of incentive stock options intended to qualify under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), non-qualified stock options, stock appreciation rights (“SARs”), restricted stock awards and restricted stock unit awards and other equity linked awards to our employees, consultants, and directors. If an equity award (i) expires or otherwise terminates without having been exercised in full or (ii) is settled in cash (<i>i.e.</i>, the holder of the award receives cash rather than stock), such expiration, termination or settlement will not reduce (or otherwise offset) the number of shares of common stock that may be issued pursuant to this Plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the period June 7, 2025 to October 31, 2025, <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250607__20251031__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveEquityPlanMember_znf27QP1UXoi" title="Shares issued during the period">524,999</span> restricted stock units were issued to directors and employees under the 2025 Equity Plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span style="text-decoration: underline">Warrants</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 5, 2025, the Company entered into a Strategic Advisor Agreements with 10X BNB Cayman Sponsor and YZi Management Labs Ltd (the “Strategic Advisors”) pursuant to which the Company engaged the Strategic Advisors to provide strategic advice and guidance relating to the Company’s business, operations, growth initiatives and industry trends in the digital asset technology sector. As compensation for services rendered by the Strategic Advisor under the Strategic Advisor Agreement, the Company issued to the Strategic Advisor warrants to purchase <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pip0_c20250805__20250805__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z0KWg4Jf2gwg" title="Stock issued during the period, shares">5,940,598</span> shares of the Company’s Common Stock (the “Strategic Advisor Warrants”) at an exercise price of $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250805__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zy8O1kwqXRHj" title="Warrant exercise price">0.00001</span> per share. The Strategic Advisor Warrants were fully vested upon issuance, exercisable at any time after issuance until the five (5) year anniversary of issuance. The total grant-date fair value of the Strategic Advisor Warrants is $<span id="xdx_90A_eus-gaap--FairValueAdjustmentOfWarrants_pn5n6_c20250805__20250805_zbkZhuzoAi4" title="Fair warrants adjustments">105.5</span> million, which was accounted for as the issuance cost, net against the cash proceeds from the PIPE Financing.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 5, 2025, the Company also entered into an asset management agreement (the “<i>Asset Management Agreement</i>”) with 10X Capital Partners LLC (the “<i>Asset Manager</i>”). Under the Asset Management Agreement, the Company issued warrants to purchase <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pip0_c20250805__20250805__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember_ztFP86QElRH8">990,099</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of the Company’s Common Stock (“<i>Asset Manager Warrants</i>”) at an exercise price of $<span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pip0_c20250805__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember_z5GGjyFpPWO6">10.23</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per share. The Asset Manager Warrants are fully vested at issuance, exercisable at any time after issuance until the five (5) year anniversary of issuance. The total grant-date fair value of the Asset Manager Warrants is $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pn5n6_c20250805__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember_zU1wrbQLLsQc">15.0</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million, which was accounted for as the issuance cost, net against the cash proceeds from the PIPE Financing.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_ecustom--ScheduleOfActivitiesOfWarrantsTableTextBlock_z7m1BXPau1Hj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strategic Advisor warrants and Asset Manager warrants are accounted for as equity classified share-based compensation award in accordance with ASC 718. Following is a summary of the activities of warrants for the six months ended October 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zb6lqp0zdpAi" style="display: none">Schedule of Warrant Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Number of Warrants</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding as of July 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20250501__20251031_zsDF6gKiABu3" style="text-align: right" title="Number of Warrants,Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl1561">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iS_c20250501__20251031_z4hYamoz2val" style="text-align: right" title="Weighted Average Exercise Price, Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl1563">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--ClassOfWarrantOrRightOutstandingAggregateIntrinsicValue_iS_c20250501__20251031_zd9wWyfC5n" style="text-align: right" title="Aggregate Intrinsic Value, Outstanding"><span style="display: none; font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1565">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 46%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20250501__20251031_zYoOSyVRY9m9" style="width: 14%; text-align: right" title="Number of Warrants,Granted">6,930,697</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--ClassOfWarrantOrRightWeightedAverageExercisePriceGranted_c20250501__20251031_zNcrnLGOHfQ6" style="width: 14%; text-align: right" title="Weighted Average Exercise Price, Granted">1.46</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_c20250501__20251031_zxOcY958lzWb" style="text-align: right" title="Number of Warrants,Exercised">2,376,236</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--ClassOfWarrantOrRightWeightedAverageExercisePriceExercised_c20250501__20251031_zPFm4ME9oGMj" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1573">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20250501__20251031_zFN7PuigwSHd" style="text-align: right" title="Number of Warrants,Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl1575">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_c20250501__20251031_zs6nPpVtiumi" style="text-align: right" title="Number of Warrants,Expired"><span style="-sec-ix-hidden: xdx2ixbrl1577">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding as of October 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20250501__20251031_zcg9gKhaq3Sb" style="text-align: right" title="Number of Warrants,Outstanding">4,554,461</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iE_c20250501__20251031_z5sBr9AOV8P" style="text-align: right" title="Weighted Average Exercise Price,Outstanding">2.22</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iE_c20250501__20251031_zC4398A0u0x8" style="text-align: right" title="Aggregate Intrinsic Value, Outstanding">26,447,530</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercisable as of October 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_iE_c20250501__20251031_z7yw2TU2Ife2" style="text-align: right" title="Number of Warrants,Exercisable">4,554,461</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecustom--ClassOfWarrantOrRightExercisableWarrantsOrRights1_iE_c20250501__20251031_zWLKnlDlDPjd" style="text-align: right" title="Weighted Average Exercise Price, Exercisable">2.22</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iE_c20250501__20251031_zqdDddRQcee9" style="text-align: right" title="Aggregate Intrinsic Value, Exercisable">26,447,530</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A3_zQadiqAKzxQ1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The measurement of fair value of the Strategic Advisor Warrants was determined based on the fair value of the underlying Common Stock on the issuance date given the nominal exercise price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company estimated the fair value of Asset Manager warrants using the Black-Scholes option-pricing model, which requires assumptions, including volatility, the expected term of the warrants, the risk-free interest rate for a period that approximates the expected term of the warrants, and expected dividend yield. Volatility is estimated based on the historical volatility of the guideline public companies over a period approximately equal to the expected term. The contractual term of the warrants is used as the expected term since the warrant holders are nonemployees and expected to hold the warrants to expiration to maximize the value of the warrants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_897_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zwjccnH3mTK5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below summarizes the key assumption inputs used for the valuation for the six months ended October 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <span style="display: none"><span id="xdx_8B0_zaQna8YN07bi">Schedule of Key Assumption Inputs</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Asset Manager </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Warrants</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Stock Price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><span id="xdx_907_eus-gaap--SharePrice_iI_pip0_c20251031_z3pefjiqLOsl" title="Stock price">17.7</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercise Price</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pip0_c20251031_zXuBwp81V0mi" title="Exercise price">10.23</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected Term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250501__20251031_zFoLEOLgi8Le" title="Expected term">5.00</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pip0_dp_c20250501__20251031_zt3D5FWbXUA3" title="Risk-free interest rate">3.77</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pip0_dp_c20250501__20251031_zs906h1lzpwj">110</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pip0_dp_c20250501__20251031_zVhpucTQUQW5" title="Expected dividend yield"><span style="-sec-ix-hidden: xdx2ixbrl1602">-</span></span></td><td style="text-align: left"></td></tr> </table> <p id="xdx_8A3_zZYnH2fP3pNa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span style="text-decoration: underline">Non-Qualified and Incentive Stock Options</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_hus-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zIZuHkTM7Hej" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the non-qualified stock options and incentive stock options granted to employees and consultants under the 2017 and 2021 Equity Plans during the period from June 7, 2025 through October 31, 2025, are presented in the tables below, including information on nonvested options:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zCk54sdQvCLl" style="display: none">Schedule of Stock Option Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Outstanding as of June 7, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zWL7YYLHlThc" style="width: 11%; text-align: right" title="Number of Options, Outstanding">18,296</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zGaaVpO3gMtb" style="width: 11%; text-align: right" title="Weighted Average Exercise Price, Outstanding">83.19</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"><span id="xdx_900_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20250607__20250607__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zcMC7btyK0wb" title="Weighted Average Remaining Contractual Term, Outstanding">5.20</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zxNaAbEwDWm1" style="width: 11%; text-align: right" title="Aggregate Intrinsic Value, Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl1612">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zje3P9zFWrtj" style="text-align: right" title="Number of Options, Granted">2,700</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zn37fKHBSNub" style="text-align: right" title="Weighted Average Exercise Price, Granted">7.74</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermGranted_dtY_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zs9NpavWydLj" title="Weighted Average Remaining Contractual Term, Granted">9.62</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z2TLZ33gt4hh" style="text-align: right" title="Number of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1620">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z8hTbWh8mIP9" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1622">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zOEjBe1xESfc" style="text-align: right" title="Number of Options, Forfeited">(450</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zFhsT1wLdhC1" style="text-align: right" title="Weighted Average Exercise Price, Forfeited">7.74</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zgWwjj2DEqX1" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Expired">(150</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zHicC1Y9KfJ4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">8.99</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Outstanding as of October 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zB33wiC3g5P8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Outstanding">20,396</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zWj9YmoEBYVb" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Outstanding">74.68</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_905_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z3Fr3wED7S6e" title="Weighted Average Remaining Contractual Term, Outstanding">5.34</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zGiR6JvEIiai" style="border-bottom: Black 1pt solid; text-align: right" title="Aggregate Intrinsic Value, Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl1638">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Exercisable as of October 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zhNASJyCoVvi" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Options, Outstanding">18,146</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zXq03zHfRca9" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted Average Exercise Price, Outstanding">82.98</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zVHAKBxjSOzl" title="Weighted Average Remaining Contractual Term, Exercisable">4.81</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zOBzc56Bg2D4" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Aggregate Intrinsic Value, Exercisable"><span style="-sec-ix-hidden: xdx2ixbrl1646">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zsSkpHsWus31" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The aggregate intrinsic value for the stock options outstanding and exercisable as of October 31, 2025, was zero because these options were out of money on October 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the period from June 7, 2025 through October 31, 2025, <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zhyDv9Tr9Gnj">2,700</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">stock options were issued to employees with an exercise price of $<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zEEUK44s6bFl">7.74</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, a <span id="xdx_909_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermsGranted_dtY_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z2XHmDBTu7Jk" title="Contract term">10</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-year contract term and a </span><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 8pt"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zIn4kwE5TpR5" title="Vesting period">1</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">one- year vesting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the period from June 7, 2025 through October 31, 2025, the Company recorded $<span id="xdx_90C_eus-gaap--ShareBasedCompensation_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zASEwX0C5cp5" title="Number of Options, Grante">6,579</span> as compensation expense related to stock options issued to employees and consultants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock_zKriQtNY9qxd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the non-qualified stock options granted to directors under the 2017 and 2021 Equity Plans, during the three months ended October 31, 2025, are presented in the tables below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zrzSarrLzPe8" style="display: none">Schedule of Non Qualified Stock Option</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted<br/> Average Remaining Contractual Term</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Outstanding, June 7, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zQ29foKAeVEe" style="width: 11%; text-align: right" title="Number of Options, Outstanding">4,760</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zfD1fy2VLGM9" style="width: 11%; text-align: right" title="Weighted Average Exercise Price, Outstanding">113.34</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"><span id="xdx_902_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20250607__20250607__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zsGtZ6AlBjCh" title="Weighted Average Remaining Contractual Term, Outstanding">3.5</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zAamRskD7OIk" style="width: 11%; text-align: right" title="Aggregate Intrinsic Value, Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl1664">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zqt4fmnX4Tse" style="text-align: right" title="Number of Options, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1666">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zA9bJ60sfhJ8" style="text-align: right" title="Weighted Average Exercise Price, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1668">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zo3hxlaZER7" style="text-align: right" title="Number of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1670">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z9SrDZGm7xdk" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1672">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zGjscRTvaQC3" style="text-align: right" title="Number of Options, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl1674">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zMl7t6rn6Ft7" style="text-align: right" title="Weighted Average Exercise Price, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl1676">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z3rPAL3c1AGf" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Expired">(1,111</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zhis0qL8arfe" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">52.20</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding, October 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zt91lVqbaht8" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding">3,649</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zyGmmJZNmS09" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Outstanding">131.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z2x53cHvl2Mf" title="Weighted Average Remaining Contractual Term, Outstanding">3.5</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zV36dFbh8HJ1" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl1688">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable, October 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zd7lCKhf5ZC2" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding">3,649</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zXWth38XtQXh" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Outstanding">131.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z4eLYDUeEsIa" title="Weighted Average Remaining Contractual Term, Exercisable">4.2</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z8TjAy1v5pY3" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Exercisable"><span style="-sec-ix-hidden: xdx2ixbrl1696">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zuL2AbUVXG68" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The aggregate intrinsic value for the stock options outstanding and exercisable as of October 31, 2025 was zero because these options were out of money on October 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the period from June 7, 2025 through October 31, 2025, the Company did not incur any compensation expense related to options issued to directors.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span style="text-decoration: underline">Restricted Stock Units</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective July 27, 2025, the Company accelerated the vesting of <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250727__20250727__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--TitleOfIndividualAxis__srt--DirectorMember_zeLuzxlt6R9">4,189</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">restricted stock units issued to a director and settled these units by the issuance of <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250727__20250727__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zSpf27IG2qmk">4,189</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of common stock. In addition, the Company granted <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250727__20250727__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneEquityPlanMember_z1Kd8lGgNmth">524,999</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">restricted stock units to directors and employees under the 2025 Equity Plan and <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250727__20250727__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneEquityPlanMember_zCti9OnpYLO9" title="Shares issued during the period">5,320</span> restricted stock units under the 2021 Equity Plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">During the period June 7, 2025 through October 31, 2025, the Company recorded $<span id="xdx_90E_eus-gaap--ShareBasedCompensation_c20250607__20250731__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember_zAevGgFEsIod" title="Share based compensation">4,693,868 as compensation expense related to RSUs issued to directors and employees.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zse98DsRRgte" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zgJC4NvuA7hh" style="display: none">Schedule of Restricted Units Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Grant-Date Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Outstanding, June 7, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZbzeXtdj3W4" style="width: 14%; text-align: right" title="Number of Units Outstanding, Beginning">1,529</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zRHpf00jYYvc" style="width: 14%; text-align: right" title="Weighted Average Grant-Date Fair Value Outstanding, Beginning">8.18</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iS_pp0p0_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z1We2D9TEQE2" style="width: 14%; text-align: right" title="Aggregate Intrinsic Value Outstanding, Beginning">11,345</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zjgM3MgCkUGb" style="text-align: right" title="Number of Units, Granted">530,139</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zjiitDWS2j4l" style="text-align: right" title="Weighted Average Grant-Date Fair Value, Granted">8.88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueGranted_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ze3F8XfnWUtf" style="text-align: right" title="Aggregate Intrinsic Value Outstanding, Granted">3,934,967</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Vested and settled with share issuance</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJjE9z59R9x1" style="text-align: right" title="Number of Units, Vested and settled with share issuance">(4,189</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zG4sKrOaZ3Nj" style="text-align: right" title="Weighted Average Grant-Date Fair Value, Vested and settled with share issuance">8.95</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested_iN_di_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZ3F8CqI3twj" style="text-align: right" title="Aggregate Intrinsic Value Outstanding, Vested and settled with share issuance">(31,082</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Forfeited/cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEZw50suXe81" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Units, Forfeited/canceled"><span style="-sec-ix-hidden: xdx2ixbrl1725">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zO3h4MYS7BWl" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant-Date Fair Value, Forfeited/Canceled"><span style="-sec-ix-hidden: xdx2ixbrl1727">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueForfeited_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zllIc81cVdp8" style="border-bottom: Black 1pt solid; text-align: right" title="Aggregate Intrinsic Value Outstanding, Forfeited/canceled"><span style="-sec-ix-hidden: xdx2ixbrl1729">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Outstanding, October 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zW8KP1Yzc4ki" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Units Outstanding, Ending">527,659</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zXtiZzNAN8Zk" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted Average Grant-Date Fair Value Outstanding, Ending">8.89</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_989_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iE_pp0p0_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZbFz10ac9b7" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Aggregate Intrinsic Value Outstanding, Ending">3,915,230</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zmcg1disCp5c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Predecessor</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Predecessor did not issue any share-based compensation awards or incur any compensation expenses related to share-based compensation awards.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 27778 1111 2700 27778 13641 12318 1819 55556 5320 2660 55556 35927 8324 6061 5234 525000 524999 5940598 0.00001 105500000 990099 10.23 15000000.0 <p id="xdx_89D_ecustom--ScheduleOfActivitiesOfWarrantsTableTextBlock_z7m1BXPau1Hj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strategic Advisor warrants and Asset Manager warrants are accounted for as equity classified share-based compensation award in accordance with ASC 718. Following is a summary of the activities of warrants for the six months ended October 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zb6lqp0zdpAi" style="display: none">Schedule of Warrant Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Number of Warrants</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding as of July 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20250501__20251031_zsDF6gKiABu3" style="text-align: right" title="Number of Warrants,Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl1561">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iS_c20250501__20251031_z4hYamoz2val" style="text-align: right" title="Weighted Average Exercise Price, Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl1563">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--ClassOfWarrantOrRightOutstandingAggregateIntrinsicValue_iS_c20250501__20251031_zd9wWyfC5n" style="text-align: right" title="Aggregate Intrinsic Value, Outstanding"><span style="display: none; font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl1565">-</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 46%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20250501__20251031_zYoOSyVRY9m9" style="width: 14%; text-align: right" title="Number of Warrants,Granted">6,930,697</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--ClassOfWarrantOrRightWeightedAverageExercisePriceGranted_c20250501__20251031_zNcrnLGOHfQ6" style="width: 14%; text-align: right" title="Weighted Average Exercise Price, Granted">1.46</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_c20250501__20251031_zxOcY958lzWb" style="text-align: right" title="Number of Warrants,Exercised">2,376,236</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--ClassOfWarrantOrRightWeightedAverageExercisePriceExercised_c20250501__20251031_zPFm4ME9oGMj" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1573">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20250501__20251031_zFN7PuigwSHd" style="text-align: right" title="Number of Warrants,Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl1575">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Expired</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_c20250501__20251031_zs6nPpVtiumi" style="text-align: right" title="Number of Warrants,Expired"><span style="-sec-ix-hidden: xdx2ixbrl1577">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding as of October 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20250501__20251031_zcg9gKhaq3Sb" style="text-align: right" title="Number of Warrants,Outstanding">4,554,461</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iE_c20250501__20251031_z5sBr9AOV8P" style="text-align: right" title="Weighted Average Exercise Price,Outstanding">2.22</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iE_c20250501__20251031_zC4398A0u0x8" style="text-align: right" title="Aggregate Intrinsic Value, Outstanding">26,447,530</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercisable as of October 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_iE_c20250501__20251031_z7yw2TU2Ife2" style="text-align: right" title="Number of Warrants,Exercisable">4,554,461</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecustom--ClassOfWarrantOrRightExercisableWarrantsOrRights1_iE_c20250501__20251031_zWLKnlDlDPjd" style="text-align: right" title="Weighted Average Exercise Price, Exercisable">2.22</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iE_c20250501__20251031_zqdDddRQcee9" style="text-align: right" title="Aggregate Intrinsic Value, Exercisable">26,447,530</td><td style="text-align: left"> </td></tr> </table> 6930697 1.46 2376236 4554461 2.22 26447530 4554461 2.22 26447530 <p id="xdx_897_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zwjccnH3mTK5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below summarizes the key assumption inputs used for the valuation for the six months ended October 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <span style="display: none"><span id="xdx_8B0_zaQna8YN07bi">Schedule of Key Assumption Inputs</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Asset Manager </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Warrants</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Stock Price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><span id="xdx_907_eus-gaap--SharePrice_iI_pip0_c20251031_z3pefjiqLOsl" title="Stock price">17.7</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercise Price</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pip0_c20251031_zXuBwp81V0mi" title="Exercise price">10.23</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected Term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250501__20251031_zFoLEOLgi8Le" title="Expected term">5.00</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pip0_dp_c20250501__20251031_zt3D5FWbXUA3" title="Risk-free interest rate">3.77</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pip0_dp_c20250501__20251031_zs906h1lzpwj">110</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pip0_dp_c20250501__20251031_zVhpucTQUQW5" title="Expected dividend yield"><span style="-sec-ix-hidden: xdx2ixbrl1602">-</span></span></td><td style="text-align: left"></td></tr> </table> 17.7 10.23 P5Y 0.0377 1.10 <p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_hus-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zIZuHkTM7Hej" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the non-qualified stock options and incentive stock options granted to employees and consultants under the 2017 and 2021 Equity Plans during the period from June 7, 2025 through October 31, 2025, are presented in the tables below, including information on nonvested options:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zCk54sdQvCLl" style="display: none">Schedule of Stock Option Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Outstanding as of June 7, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zWL7YYLHlThc" style="width: 11%; text-align: right" title="Number of Options, Outstanding">18,296</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zGaaVpO3gMtb" style="width: 11%; text-align: right" title="Weighted Average Exercise Price, Outstanding">83.19</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"><span id="xdx_900_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20250607__20250607__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zcMC7btyK0wb" title="Weighted Average Remaining Contractual Term, Outstanding">5.20</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zxNaAbEwDWm1" style="width: 11%; text-align: right" title="Aggregate Intrinsic Value, Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl1612">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zje3P9zFWrtj" style="text-align: right" title="Number of Options, Granted">2,700</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zn37fKHBSNub" style="text-align: right" title="Weighted Average Exercise Price, Granted">7.74</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermGranted_dtY_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zs9NpavWydLj" title="Weighted Average Remaining Contractual Term, Granted">9.62</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z2TLZ33gt4hh" style="text-align: right" title="Number of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1620">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z8hTbWh8mIP9" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1622">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zOEjBe1xESfc" style="text-align: right" title="Number of Options, Forfeited">(450</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zFhsT1wLdhC1" style="text-align: right" title="Weighted Average Exercise Price, Forfeited">7.74</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zgWwjj2DEqX1" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Expired">(150</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zHicC1Y9KfJ4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">8.99</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Outstanding as of October 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zB33wiC3g5P8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Outstanding">20,396</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zWj9YmoEBYVb" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Outstanding">74.68</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_905_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z3Fr3wED7S6e" title="Weighted Average Remaining Contractual Term, Outstanding">5.34</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zGiR6JvEIiai" style="border-bottom: Black 1pt solid; text-align: right" title="Aggregate Intrinsic Value, Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl1638">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Exercisable as of October 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zhNASJyCoVvi" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Options, Outstanding">18,146</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zXq03zHfRca9" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted Average Exercise Price, Outstanding">82.98</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zVHAKBxjSOzl" title="Weighted Average Remaining Contractual Term, Exercisable">4.81</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zOBzc56Bg2D4" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Aggregate Intrinsic Value, Exercisable"><span style="-sec-ix-hidden: xdx2ixbrl1646">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 18296 83.19 P5Y2M12D 2700 7.74 P9Y7M13D 450 7.74 150 8.99 20396 74.68 P5Y4M2D 18146 82.98 P4Y9M21D 2700 7.74 P10Y P1Y 6579 <p id="xdx_896_eus-gaap--ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock_zKriQtNY9qxd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the non-qualified stock options granted to directors under the 2017 and 2021 Equity Plans, during the three months ended October 31, 2025, are presented in the tables below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zrzSarrLzPe8" style="display: none">Schedule of Non Qualified Stock Option</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted<br/> Average Remaining Contractual Term</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Outstanding, June 7, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zQ29foKAeVEe" style="width: 11%; text-align: right" title="Number of Options, Outstanding">4,760</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zfD1fy2VLGM9" style="width: 11%; text-align: right" title="Weighted Average Exercise Price, Outstanding">113.34</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"><span id="xdx_902_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20250607__20250607__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zsGtZ6AlBjCh" title="Weighted Average Remaining Contractual Term, Outstanding">3.5</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zAamRskD7OIk" style="width: 11%; text-align: right" title="Aggregate Intrinsic Value, Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl1664">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zqt4fmnX4Tse" style="text-align: right" title="Number of Options, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1666">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zA9bJ60sfhJ8" style="text-align: right" title="Weighted Average Exercise Price, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1668">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zo3hxlaZER7" style="text-align: right" title="Number of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1670">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z9SrDZGm7xdk" style="text-align: right" title="Weighted Average Exercise Price, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1672">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zGjscRTvaQC3" style="text-align: right" title="Number of Options, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl1674">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zMl7t6rn6Ft7" style="text-align: right" title="Weighted Average Exercise Price, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl1676">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z3rPAL3c1AGf" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Expired">(1,111</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zhis0qL8arfe" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Expired">52.20</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding, October 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zt91lVqbaht8" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding">3,649</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zyGmmJZNmS09" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Outstanding">131.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z2x53cHvl2Mf" title="Weighted Average Remaining Contractual Term, Outstanding">3.5</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zV36dFbh8HJ1" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl1688">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable, October 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zd7lCKhf5ZC2" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding">3,649</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_zXWth38XtQXh" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Outstanding">131.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z4eLYDUeEsIa" title="Weighted Average Remaining Contractual Term, Exercisable">4.2</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_c20250607__20251031__srt--TitleOfIndividualAxis__custom--EmployeeAndConsultantMember__us-gaap--PlanNameAxis__custom--TwoThousandAndSeventeenEquityPlanAndTwoThousandAndTwentyOneEquityPlanMember_z8TjAy1v5pY3" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Exercisable"><span style="-sec-ix-hidden: xdx2ixbrl1696">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 4760 113.34 P3Y6M 1111 52.20 3649 131.95 P3Y6M 3649 131.95 P4Y2M12D 4189 4189 524999 5320 4693868 <p id="xdx_890_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zse98DsRRgte" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zgJC4NvuA7hh" style="display: none">Schedule of Restricted Units Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Grant-Date Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Outstanding, June 7, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZbzeXtdj3W4" style="width: 14%; text-align: right" title="Number of Units Outstanding, Beginning">1,529</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zRHpf00jYYvc" style="width: 14%; text-align: right" title="Weighted Average Grant-Date Fair Value Outstanding, Beginning">8.18</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iS_pp0p0_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z1We2D9TEQE2" style="width: 14%; text-align: right" title="Aggregate Intrinsic Value Outstanding, Beginning">11,345</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zjgM3MgCkUGb" style="text-align: right" title="Number of Units, Granted">530,139</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zjiitDWS2j4l" style="text-align: right" title="Weighted Average Grant-Date Fair Value, Granted">8.88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueGranted_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ze3F8XfnWUtf" style="text-align: right" title="Aggregate Intrinsic Value Outstanding, Granted">3,934,967</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Vested and settled with share issuance</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJjE9z59R9x1" style="text-align: right" title="Number of Units, Vested and settled with share issuance">(4,189</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zG4sKrOaZ3Nj" style="text-align: right" title="Weighted Average Grant-Date Fair Value, Vested and settled with share issuance">8.95</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested_iN_di_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZ3F8CqI3twj" style="text-align: right" title="Aggregate Intrinsic Value Outstanding, Vested and settled with share issuance">(31,082</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Forfeited/cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEZw50suXe81" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Units, Forfeited/canceled"><span style="-sec-ix-hidden: xdx2ixbrl1725">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zO3h4MYS7BWl" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant-Date Fair Value, Forfeited/Canceled"><span style="-sec-ix-hidden: xdx2ixbrl1727">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueForfeited_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zllIc81cVdp8" style="border-bottom: Black 1pt solid; text-align: right" title="Aggregate Intrinsic Value Outstanding, Forfeited/canceled"><span style="-sec-ix-hidden: xdx2ixbrl1729">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Outstanding, October 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zW8KP1Yzc4ki" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Units Outstanding, Ending">527,659</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zXtiZzNAN8Zk" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted Average Grant-Date Fair Value Outstanding, Ending">8.89</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_989_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iE_pp0p0_c20250607__20251031__us-gaap--PlanNameAxis__custom--TwoThousandAndTwentyFiveEquityPlanMember__srt--TitleOfIndividualAxis__custom--DirectorsAndEmployeesMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZbFz10ac9b7" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Aggregate Intrinsic Value Outstanding, Ending">3,915,230</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 1529 8.18 11345 530139 8.88 3934967 4189 8.95 31082 527659 8.89 3915230 <p id="xdx_807_ecustom--WarrantsDisclosureTextBlock_zXgKYd7xIyT7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 15 - <span id="xdx_821_zVwyEOthhQde">Warrants</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Pre-Funded Warrants</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three months ended October 31, 2025, the Company issued Pre-Funded Warrants exercisable for <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250801__20251031__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zeYpifyqcJK9" title="Stock issued during the period, shares">7,750,510</span> shares of Common Stock in conjunction with the PIPE transaction. The Pre-Funded Warrants are exercisable for a nomination consideration of $<span id="xdx_907_eus-gaap--StockOptionExercisePriceIncrease_c20250801__20251031__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zCOgd4NX3WK9" title="Sale of stock purchase price">0.0001</span> per share, are exercisable immediately and may be exercised at any time until all of the Pre-Funded Warrants issued in the Private Placement are exercised in full. The measurement of fair value of the Pre-Funded Warrants was determined based on the fair value of the underlying Common Stock on the issuance date given the nominal exercise price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stapled Warrants</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three months ended October 31, 2025, the Company issued Stapled Warrants exercisable for <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250801__20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--StapledWarrantsMember_zf6k8EQxo3ce" title="Stock issued during the period, shares">49,504,988</span> shares of Common Stock in conjunction with the PIPE transaction. The Stapled Warrants are exercisable immediately and may be exercised at any time until three years from issuance for an exercise price of $<span id="xdx_901_eus-gaap--StockOptionExercisePriceIncrease_c20250801__20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--StapledWarrantsMember_zPBQy1YoBkUj" title="Sale of stock purchase price">15.15</span> per share. The warrants contain a mandatory exercise right for the Company to force exercise of the warrants if the volume-weighted average price (“VWAP”) of the common stock exceeds $20.20 for 20 out of 30 trading days. Stapled Warrants are classified as liability as they are not considered indexed to the Company equity shares in accordance with ASC 815-40 due to certain adjustments to settlement amount on events that are not within the control of the Company. The following table provides a summary of changes in fair value of the Company’s warrant liability, determined using Level 3 inputs:</span></p> <p id="xdx_89D_eus-gaap--FairValueDisclosureOfAssetAndLiabilityNotMeasuredAtFairValueTableTextBlock_zKg8RdTGHR57" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B2_zyl1HOD5m2ja" style="display: none">Schedule of Warrant Liability</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 65%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250801__20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zd0C6a5Qpxa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--LiabilitiesFairValueDisclosure_iS_zgC6LO58S0Cb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Fair value at issuance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">304,950,726</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FairValueAdjustmentOfWarrants_iN_di_zkrS2AqJ5NF7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value during the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0pt 0pt 0pt 0">(206,818,087</p></td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--LiabilitiesFairValueDisclosure_iE_z3iUcMosE2hj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Fair value as of October 31, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><p style="margin: 0pt 0pt 0pt 0">98,132,639</p></td><td style="text-align: left"></td></tr> </table> <p id="xdx_8A3_zwO0ed5XZOd9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company used the Monte-Carlo option model to compute the fair value (level 3) of the Stapled Warrants. The following table summarizes the inputs used in the valuation of the Stapled Warrants:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_hsrt--TitleOfIndividualAxis__custom--MonteCarloMember_zshXLCF1Djhb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zlRloCathhYg" style="display: none">Schedule of Inputs Used in Valuation Warrants</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 65%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">August 5,<br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31,<br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Stock price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><span id="xdx_903_eus-gaap--SharePrice_iI_pip0_c20250805__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zvqKAMApy0Xh" title="Stock price">17.77</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_900_eus-gaap--SharePrice_iI_pip0_c20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zAzXrV9BrV53" title="Stock price">7.42</span></p></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pip0_dp_c20250805__20250805__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zCKoqntwfZs5" title="Expected volatility">70</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pip0_dp_c20251031__20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zYF0FQq6jANh" title="Expected volatility">85</span></p></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Simulated Trading Days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsSimulatedTradingTerm_dtD_c20250805__20250805__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zihEdbd5sFn5" title="Expected term">754</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_903_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsSimulatedTradingTerm_dtD_c20251031__20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zmz90lKcdZck" title="Expected term">692</span></p></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pip0_dp_c20250805__20250805__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zDR5KRf2oY0a" title="Risk-free interest rate">3.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pip0_dp_c20251031__20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zEXqDIez4HF8" title="Risk-free interest rate">3.57</span></p></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pip0_dp_c20250805__20250805__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z3GCdr1PH1Oj" title="Expected dividend yield"><span style="-sec-ix-hidden: xdx2ixbrl1773">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pip0_dp_c20251031__20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zD4jGBLkvYLh" title="Expected dividend yield"><span style="-sec-ix-hidden: xdx2ixbrl1775">-</span></span></p></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Holding period (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250805__20250805__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zRQdeuuRQXel" title="Expected term">3</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20251031__20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zdlT6maVcqIa" title="Expected term">2.76</span></td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A3_zRrLvF1dwhbg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the period June 7, 2025, to October 31, 2025, a total of <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_c20250607__20251031_z8mQxpu63S5k" title="Warrants were exercised">119,535</span> warrants were exercised on a cashless basis resulting in the issuance of <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250607__20251031_zNDXCfINX1U9" title="Number of common stock issued">17,582 </span>shares of common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes information about warrants outstanding at October 31, 2025:</span></p> <p id="xdx_89F_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zoq0NhWQajW6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B5_zPFiP7pjgeb4" style="display: none">Schedule of Warrant Outstanding</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 50%"> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Warrants Outstanding at</p> <p style="margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">October 31, 2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceOneMember_zsCGrDA6Wzl4" style="width: 47%; text-align: right" title="Exercise price">49,504,988</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceOneMember_z7v17kxesgS1" style="width: 47%; text-align: right" title="Exercise price">15.15</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceTwoMember_zh1CIVGXbXQ4" style="text-align: right" title="Exercise price">7,750,510</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceTwoMember_zWVZyGfwugy2" style="text-align: right" title="Exercise price">0</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceThreeMember_zP6cHpUr2zC9" style="text-align: right" title="Exercise price">472,590</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceThreeMember_zFJgwm9sZyJl" style="text-align: right" title="Exercise price">60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceFourMember_z3V4GqM1lXa7" style="text-align: right" title="Exercise price">24,213</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceFourMember_zbqi97dRlIgk" style="text-align: right" title="Exercise price">61.95</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A8_zjPgbsfZBke" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There were no outstanding warrants during the predecessor period from May 1, 2025 through June 6, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 7750510 0.0001 49504988 15.15 <p id="xdx_89D_eus-gaap--FairValueDisclosureOfAssetAndLiabilityNotMeasuredAtFairValueTableTextBlock_zKg8RdTGHR57" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B2_zyl1HOD5m2ja" style="display: none">Schedule of Warrant Liability</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 65%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250801__20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zd0C6a5Qpxa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--LiabilitiesFairValueDisclosure_iS_zgC6LO58S0Cb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Fair value at issuance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">304,950,726</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FairValueAdjustmentOfWarrants_iN_di_zkrS2AqJ5NF7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value during the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0pt 0pt 0pt 0">(206,818,087</p></td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--LiabilitiesFairValueDisclosure_iE_z3iUcMosE2hj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Fair value as of October 31, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><p style="margin: 0pt 0pt 0pt 0">98,132,639</p></td><td style="text-align: left"></td></tr> </table> 304950726 206818087 98132639 <p id="xdx_894_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_hsrt--TitleOfIndividualAxis__custom--MonteCarloMember_zshXLCF1Djhb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zlRloCathhYg" style="display: none">Schedule of Inputs Used in Valuation Warrants</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 65%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">August 5,<br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 31,<br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Stock price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><span id="xdx_903_eus-gaap--SharePrice_iI_pip0_c20250805__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zvqKAMApy0Xh" title="Stock price">17.77</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_900_eus-gaap--SharePrice_iI_pip0_c20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zAzXrV9BrV53" title="Stock price">7.42</span></p></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pip0_dp_c20250805__20250805__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zCKoqntwfZs5" title="Expected volatility">70</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pip0_dp_c20251031__20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zYF0FQq6jANh" title="Expected volatility">85</span></p></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Simulated Trading Days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsSimulatedTradingTerm_dtD_c20250805__20250805__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zihEdbd5sFn5" title="Expected term">754</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_903_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsSimulatedTradingTerm_dtD_c20251031__20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zmz90lKcdZck" title="Expected term">692</span></p></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pip0_dp_c20250805__20250805__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zDR5KRf2oY0a" title="Risk-free interest rate">3.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pip0_dp_c20251031__20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zEXqDIez4HF8" title="Risk-free interest rate">3.57</span></p></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pip0_dp_c20250805__20250805__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z3GCdr1PH1Oj" title="Expected dividend yield"><span style="-sec-ix-hidden: xdx2ixbrl1773">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0pt 0pt 0pt 0"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pip0_dp_c20251031__20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zD4jGBLkvYLh" title="Expected dividend yield"><span style="-sec-ix-hidden: xdx2ixbrl1775">-</span></span></p></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Holding period (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250805__20250805__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zRQdeuuRQXel" title="Expected term">3</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20251031__20251031__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zdlT6maVcqIa" title="Expected term">2.76</span></td><td style="text-align: left"> </td></tr> </table> 17.77 7.42 0.70 0.85 P754D P692D 0.0360 0.0357 P3Y P2Y9M3D 119535 17582 <p id="xdx_89F_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zoq0NhWQajW6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B5_zPFiP7pjgeb4" style="display: none">Schedule of Warrant Outstanding</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 50%"> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">Warrants Outstanding at</p> <p style="margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt">October 31, 2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceOneMember_zsCGrDA6Wzl4" style="width: 47%; text-align: right" title="Exercise price">49,504,988</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceOneMember_z7v17kxesgS1" style="width: 47%; text-align: right" title="Exercise price">15.15</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceTwoMember_zh1CIVGXbXQ4" style="text-align: right" title="Exercise price">7,750,510</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceTwoMember_zWVZyGfwugy2" style="text-align: right" title="Exercise price">0</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceThreeMember_zP6cHpUr2zC9" style="text-align: right" title="Exercise price">472,590</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceThreeMember_zFJgwm9sZyJl" style="text-align: right" title="Exercise price">60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceFourMember_z3V4GqM1lXa7" style="text-align: right" title="Exercise price">24,213</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251031__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceFourMember_zbqi97dRlIgk" style="text-align: right" title="Exercise price">61.95</td><td style="text-align: left"> </td></tr> </table> 49504988 15.15 7750510 0 472590 60 24213 61.95 <p id="xdx_808_eus-gaap--EarningsPerShareTextBlock_zMvQnc2M943b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 16 – <span id="xdx_828_zY2KjhjrOy8b">Earnings Per Share (As Restated)</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The following table sets forth the computation of basic and diluted earnings per share:</span></p> <p id="xdx_892_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zgDlmdjcFZN3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"> <span id="xdx_8BE_zZIcxxtImvwe" style="display: none">Schedule of Computation of Basic and Diluted Earnings Per Share</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250801__20251031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--SuccessorMember_z5phx3WjAlhj" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240801__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zT17lEOSoH0e" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250607__20251031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--SuccessorMember_zIYhoXuO65Jg" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td> <td id="xdx_494_20250501__20250606__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zr2EzsD3U2Lj" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td> <td colspan="2" id="xdx_494_20240501__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zyeznnkB6kze" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Predecessor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Predecessor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>Three months ended October 31,</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>Three months ended October 31,</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><b>Period from</b></p> <p style="margin-top: 0; margin-bottom: 0"><b>June 7 through October 31,</b></p></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><b>Period from</b></p> <p style="margin-top: 0; margin-bottom: 0"><b>May 1 through June 6,</b></p></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>Six months ended October 31,</b></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2025</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2024</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2025</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2025</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2024</b></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"><b>As Restated</b></td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"><b>As Restated</b></td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic earnings per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLoss_zrurLVBMHnCl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; width: 28%; text-align: left">Net income available to common shareholders - basic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">283,642,773</td><td style="width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">291,617</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">277,794,376</td><td style="width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">19,013</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">1,000,040</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_zNKzHpdi0nfd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Weighted-average number of common shares outstanding – basic</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">54,801,438</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,410</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">34,637,698</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,410</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,410</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EarningsPerShareBasic_zrJZetbZWa21" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Basic earnings per common share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5.18</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">206.82</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8.02</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">13.48</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">709.25</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Diluted earnings per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zrlQvEhXTR2k" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Net income available to common shareholders - basic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">283,642,773</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">291,617</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">277,794,376</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">19,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000,040</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AddInterestAndDiscountAmortizationOnConvertibleNotes_ztvU5ThbD009" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Add: Interest and discount amortization on convertible notes</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">14,181</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1832">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">22,830</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1834">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1835">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_z1fiygI8PBf9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 30pt; text-align: left">Net income available to common shareholders - dilutive</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">283,656,954</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">291,617</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">277,817,206</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">19,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,000,040</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_z5qNvD9Ivmr2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Weighted-average number of common shares outstanding – basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,801,438</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,637,698</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Add: dilutive securities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zFV8R5ARIYHa" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">273,484</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1850">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">136,742</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1852">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1853">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_ze6b2evoKK8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock Options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,703</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1856">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,510</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1858">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1859">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zlDYVr8ofM1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">RSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1861">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1862">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1864">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1865">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zsTwDwdKCMk5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Convertible Note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,808</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1868">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,769</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1870">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1871">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_zo3Nj6YKCMBj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Weighted-average number of common shares outstanding - diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55,116,433</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,817,306</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EarningsPerShareDiluted_zkTIvrobAjB7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Diluted earnings per common share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5.15</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">206.82</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7.98</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">13.48</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">709.25</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A6_zQx3Zkw5q8Ff" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The following table summarizes the securities that were not included in the computation of diluted income per common share as they are anti-dilutive:</span></p> <p id="xdx_894_eus-gaap--ScheduleOfEarningsPerShareDilutedByCommonClassTextBlock_z7dAPYkkRGfc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zqESBXqrI7s6" style="display: none">Schedule of Computation Diluted Income Per Common Share</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td id="xdx_493_20250801__20251031_z8IVXlj9MJWl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td colspan="2" id="xdx_49C_20250607__20251031_zrViZbuFINc5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from</p> <p style="margin-top: 0; margin-bottom: 0">August 1 through</p> <p style="margin-top: 0; margin-bottom: 0">October 31, 2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from</p> <p style="margin-top: 0; margin-bottom: 0">June 7 through</p> <p style="margin-top: 0; margin-bottom: 0">October 31, 2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zIBxyjo4130b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested RSUs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,660</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,660</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zgDlmdjcFZN3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"> <span id="xdx_8BE_zZIcxxtImvwe" style="display: none">Schedule of Computation of Basic and Diluted Earnings Per Share</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250801__20251031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--SuccessorMember_z5phx3WjAlhj" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240801__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zT17lEOSoH0e" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250607__20251031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--SuccessorMember_zIYhoXuO65Jg" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td> <td id="xdx_494_20250501__20250606__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zr2EzsD3U2Lj" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td> <td colspan="2" id="xdx_494_20240501__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zyeznnkB6kze" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"> </td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Predecessor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Predecessor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>Three months ended October 31,</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>Three months ended October 31,</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><b>Period from</b></p> <p style="margin-top: 0; margin-bottom: 0"><b>June 7 through October 31,</b></p></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><b>Period from</b></p> <p style="margin-top: 0; margin-bottom: 0"><b>May 1 through June 6,</b></p></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>Six months ended October 31,</b></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2025</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2024</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2025</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2025</b></td><td style="padding-bottom: 1pt"><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>2024</b></td><td style="padding-bottom: 1pt"><b> </b></td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"><b>As Restated</b></td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"><b>As Restated</b></td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic earnings per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLoss_zrurLVBMHnCl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; width: 28%; text-align: left">Net income available to common shareholders - basic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">283,642,773</td><td style="width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">291,617</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">277,794,376</td><td style="width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">19,013</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">1,000,040</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_zNKzHpdi0nfd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Weighted-average number of common shares outstanding – basic</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">54,801,438</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,410</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">34,637,698</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,410</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,410</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EarningsPerShareBasic_zrJZetbZWa21" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Basic earnings per common share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5.18</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">206.82</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">8.02</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">13.48</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">709.25</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Diluted earnings per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zrlQvEhXTR2k" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Net income available to common shareholders - basic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">283,642,773</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">291,617</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">277,794,376</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">19,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000,040</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AddInterestAndDiscountAmortizationOnConvertibleNotes_ztvU5ThbD009" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Add: Interest and discount amortization on convertible notes</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">14,181</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1832">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">22,830</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1834">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1835">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_z1fiygI8PBf9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 30pt; text-align: left">Net income available to common shareholders - dilutive</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">283,656,954</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">291,617</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">277,817,206</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">19,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,000,040</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_z5qNvD9Ivmr2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Weighted-average number of common shares outstanding – basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,801,438</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,637,698</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Add: dilutive securities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zFV8R5ARIYHa" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">273,484</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1850">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">136,742</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1852">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1853">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_ze6b2evoKK8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock Options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,703</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1856">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,510</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1858">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1859">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zlDYVr8ofM1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">RSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1861">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1862">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1864">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1865">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zsTwDwdKCMk5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Convertible Note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,808</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1868">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,769</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1870">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1871">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_zo3Nj6YKCMBj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Weighted-average number of common shares outstanding - diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55,116,433</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,817,306</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EarningsPerShareDiluted_zkTIvrobAjB7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Diluted earnings per common share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5.15</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">206.82</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7.98</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">13.48</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">709.25</td><td style="text-align: left"> </td></tr> </table> 283642773 291617 277794376 19013 1000040 54801438 1410 34637698 1410 1410 5.18 206.82 8.02 13.48 709.25 283642773 291617 277794376 19013 1000040 14181 22830 283656954 291617 277817206 19013 1000040 54801438 1410 34637698 1410 1410 273484 136742 1703 1510 587 39808 40769 55116433 1410 34817306 1410 1410 5.15 206.82 7.98 13.48 709.25 <p id="xdx_894_eus-gaap--ScheduleOfEarningsPerShareDilutedByCommonClassTextBlock_z7dAPYkkRGfc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zqESBXqrI7s6" style="display: none">Schedule of Computation Diluted Income Per Common Share</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td id="xdx_493_20250801__20251031_z8IVXlj9MJWl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td colspan="2" id="xdx_49C_20250607__20251031_zrViZbuFINc5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Successor</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from</p> <p style="margin-top: 0; margin-bottom: 0">August 1 through</p> <p style="margin-top: 0; margin-bottom: 0">October 31, 2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Period from</p> <p style="margin-top: 0; margin-bottom: 0">June 7 through</p> <p style="margin-top: 0; margin-bottom: 0">October 31, 2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zIBxyjo4130b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested RSUs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,660</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,660</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 2660 2660 <p id="xdx_800_eus-gaap--IncomeTaxDisclosureTextBlock_zNMtyKp8zWMd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 17 – <span id="xdx_827_zMOw19zCU1ci">Income Taxes</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the period from June 7, 2025 to October 31, 2025 (Successor), the period from May 1, 2025 to June 6, 2025 (Predecessor) and the six months ended October 31, 2024 (Predecessor), the Company’s earnings before income taxes, income tax expense and effective income tax rate were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zELYS02LLp5d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zJSWMSACnhK4" style="display: none">Schedule of Earnings Before Income Taxes, Income Tax Expense and Effective Income Tax Rate</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_491_20250607__20251031_zAkwAdPdkAJi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49B_20250501__20250606__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_z7UejtRwDOX" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_903_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250501__20250606_z9rz0sJO8so1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_491_20240501__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zY4bGTyNS7z2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_907_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20241031_znnsknaj3Mnb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_491_20250801__20251031_z50QoYRWekm6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49E_20240801__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zAvnU2JNpW46" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_906_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240801__20241031_z0l0wWEvAR63" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Period from</b></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 7 through</b></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>October 31,</b></span></p></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Period from</b></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>May 1 through</b></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 6, 2025</b></span></p></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Six Months Ended October 31,</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Three Months Ended October 31,</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Three Months Ended October 31,</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2024</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2024</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zdfkaA91Ltjd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Profit/(loss) before income taxes</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">295,894,837</span></td><td style="width: 2%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,602</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,240,744</span></td><td style="width: 2%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">301,804,270</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">376,668</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxExpenseBenefit_zW83fcBcGIja" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income tax expense (benefit)</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">18,100,461</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,589</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">240,704</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">18,161,497</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">85,051</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_uPure_zPNzy44LXwY2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective income tax rate</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.1</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.7</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19.4</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22.6</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> </table> <p id="xdx_8AD_z39ZKYCVNh5e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The change in the effective tax rate for the period June 7, 2025 to October 31, 31, 2025 (Successor), compared to the predecessor period for May 1, 2025 to June 6, 2025 (Predecessor), and the three months ended July 31, 2024 (Predecessor), was primarily due to the impact of foreign statutory rates that are lower than the U.S. statutory tax rate, non-deductible transaction costs, U.S. inclusions on foreign income, and changes to valuation allowances on the legacy business of CEA Industries Inc.’s United States operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company completed the acquisition of Fat Panda Ltd. and related entities, taxed as Canadian corporations, during the quarter. For Canadian federal income tax purposes, the transaction was treated as a stock acquisition with no step-up in tax basis. As a result, the goodwill and intangible assets recorded for financial reporting purposes are not deductible for tax purposes. This created a deferred tax liability of $<span id="xdx_909_eus-gaap--DeferredTaxLiabilities_iI_pn5n6_c20251031_zgL2zveLuQBj" title="Deferred tax liability">1.2</span> million, which is included in the Company’s net deferred tax position.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">As of October 31, 2025, the Company has U.S. federal and state net operating losses (“NOLs”) related to the legacy CEA Industries, Inc. United States operations of approximately $<span id="xdx_908_eus-gaap--OperatingLossCarryforwards_iI_pp0p0_c20251031_zW4jNpFV9gyg">31,455,315</span> of which $<span id="xdx_907_ecustom--NetOperatingLossCarryForwardExpectedToExpireAmount_iI_pp0p0_c20251031_zqmPQHPRyBvg" title="Net operating loss carry forward,expire amount">11,196,000</span> will expire, if not utilized, in the years <span id="xdx_90B_ecustom--NetOperatingLossExpirationTerm_c20251031__20251031_zkKN5LXA97h9" title="Net operating loss expiration term">2034</span> through 2037, however, NOLs generated subsequent to December 31, 2017 do not expire but may only be used against taxable income to <span id="xdx_904_ecustom--NolsUsageAgainstTaxableIncomePercentage_iI_pid_dp_uPure_c20251031_zBNTH4y4prM4" title="Taxable income percentage">80</span>%. In addition, pursuant to Section 382 of the Internal Revenue Code of 1986, as amended, use of the Company’s NOLs carryforwards may be limited in the event of cumulative changes in ownership of more than <span id="xdx_90F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OwnershipMember_zQK4t0UqM8k8" title="Percentage of ownership change">50</span>% within a <span id="xdx_908_ecustom--NolsCarryforwardsTermDescription_c20250501__20251031_zWSgYMATcbei" title="NOLs carryforwards term">three-year</span> period. In addition, under Section 382 of the Internal Revenue Code of 1986, as amended (the “Code”), and corresponding provisions of state law, if a corporation undergoes an “ownership change,” which is generally defined as a greater than <span id="xdx_904_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--OwnershipMember_zVEEr7pQNF94" title="Percentage of ownership change">50</span>% change, by value, in its equity ownership over a three-year period, the corporation’s ability to use its pre-change net operating loss carryforwards and other pre- change tax attributes to offset its post-change income or taxes may be limited. The securities sales we completed in September 2021 and February 2022 and the Private Placement Offering discussed in <i>Note 20 Subsequent Events </i>below will need to be evaluated for determination of any “ownership change” that we may have undergone during a determination period. If an ownership change has occurred, our ability to use our net operating loss carryforwards is materially limited and it would harm our future post tax results by effectively increasing our future tax obligations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company must assess the likelihood that its net deferred tax assets will be recovered from future taxable income, and to the extent the Company believes that recovery is not likely, the Company establishes a valuation allowance. Management’s judgment is required in determining the Company’s provision for income taxes, deferred tax assets and liabilities, and any valuation allowance recorded against the net deferred tax assets. The Company recorded a full valuation allowance related to CEA Industries Inc. United States operations as of October 31, 2025. Based on the available evidence, the Company believes it is more likely than not that it will not be able to utilize its net deferred tax assets in the foreseeable future related to its United States operations. The Company intends to maintain valuation allowances until sufficient evidence exists to support the reversal of such valuation allowances. The Company makes estimates and judgments about its future taxable income that are based on assumptions that are consistent with the Company’s plans. Should the actual amounts differ from the Company’s estimates, the carrying value of the Company’s deferred tax assets could be materially impacted.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company regularly assesses the adequacy of its provisions for income tax contingencies in accordance with the applicable authoritative guidance on accounting for income taxes. The Company records uncertain tax positions on the basis of a two-step process in which: (i) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position, and (ii) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with the related tax authority. The Company currently has recorded a $<span id="xdx_907_eus-gaap--UnrecognizedTaxBenefits_iI_pp0p0_c20251031__srt--StatementGeographicalAxis__country--CA_zsAgSzqYB3Wf" title="Uncertain tax positions">200,000</span> tax reserve for uncertain tax positions in Canada.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 4, 2025, the President signed H.R. 1, the “One Big Beautiful Bill Act,” into law. The legislation includes several changes to federal tax law that generally allow for more favourable deductibility of certain business expenses beginning in 2025, including the restoration of immediate expense of domestic R&amp;D expenditures, reinstatement of <span id="xdx_901_ecustom--RAndDExpendituresReinstatementOfBonusDepreciationPercentage_pid_dp_uPure_c20250704__20250704_z10GiGd7IFy2" title="R&amp;D expenditures, reinstatement of bonus depreciation percentage">100</span>% bonus depreciation, and more favourable rules for determining the limitation on business interest expense.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Act also includes certain changes to the US taxation of foreign activity, including changes to foreign tax credits, GILTI, FDII, and BEAT, amongst other changes. These changes are generally effective for tax years beginning after Dec. 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is currently assessing the impact of the One Big Beautiful Bill but does not expect the passing of this legislation will have a material impact on the tax provision.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zELYS02LLp5d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zJSWMSACnhK4" style="display: none">Schedule of Earnings Before Income Taxes, Income Tax Expense and Effective Income Tax Rate</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_491_20250607__20251031_zAkwAdPdkAJi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49B_20250501__20250606__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_z7UejtRwDOX" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_903_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250501__20250606_z9rz0sJO8so1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_491_20240501__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zY4bGTyNS7z2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_907_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20241031_znnsknaj3Mnb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_491_20250801__20251031_z50QoYRWekm6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Successor</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49E_20240801__20241031__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zAvnU2JNpW46" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span id="xdx_906_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240801__20241031_z0l0wWEvAR63" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Predecessor</span></td><td style="padding-bottom: 1pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Period from</b></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 7 through</b></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>October 31,</b></span></p></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Period from</b></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>May 1 through</b></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 6, 2025</b></span></p></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Six Months Ended October 31,</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Three Months Ended October 31,</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Three Months Ended October 31,</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2024</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2024</b></span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zdfkaA91Ltjd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Profit/(loss) before income taxes</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">295,894,837</span></td><td style="width: 2%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,602</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,240,744</span></td><td style="width: 2%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">301,804,270</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">376,668</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxExpenseBenefit_zW83fcBcGIja" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income tax expense (benefit)</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">18,100,461</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,589</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">240,704</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">18,161,497</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">85,051</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_uPure_zPNzy44LXwY2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective income tax rate</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.1</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.7</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19.4</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22.6</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> </table> Predecessor Predecessor Predecessor 295894837 20602 1240744 301804270 376668 18100461 1589 240704 18161497 85051 0.061 0.077 0.194 0.060 0.226 1200000 31455315 11196000 2034 0.80 0.50 three-year 0.50 200000 1 <p id="xdx_80A_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zmNXZ8a9CsNi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 18 – <span id="xdx_824_zI2VD2rnclTc">Related Party Transactions</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Agreements and Transaction with a Company Director and previous director</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company entered into a manufacturer representative agreement with RSX Enterprises (“RSX”) in March 2021 to become a non-exclusive representative for the Company to assist in marketing and soliciting orders. James R. Shipley, one of our former independent directors, has a significant ownership interest in RSX.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the manufacturer representative agreement, RSX will act as a non-exclusive representative for the Company within the United States, Canada and Mexico and may receive a commission for qualified customer leads. The agreement had an initial term through December 31, 2021 with automatic one-year renewal terms unless notice is given 90 days prior to each annual expiration. <span id="xdx_905_eus-gaap--PaymentsForCommissions_do_c20250501__20251031_z6vLRtHfcGvh" title="Payments for commissions">No</span> payments were made for commissions under this agreement for the period from June 7, 2025 through October 31, 2025 (Successor).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 19, 2024, the Company engaged Nicholas J. Etten, a director of the Company, to provide services covering transaction sourcing and evaluation, in the Company’s effort to arrange for a merger, acquisition, combination or other strategic transaction. Mr. Etten has a background in corporate development and investment banking in multiple industries. Mr. Etten will be paid a weekly fee of $<span id="xdx_90A_eus-gaap--PaymentsForFees_c20240619__20240619__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NicholasJEttenMember_zGhQ6aXVhY5h" title="Payments for fees">2,500</span>. It is expected that Mr. Etten will provide a minimum of 10 hours per week, up to a maximum of 40 hours a month, as determined by the Company and Mr. Etten. The consulting agreement will be on a month-to-month basis, and either the Company or Mr. Etten may terminate the arrangement on five days’ notice. The Company has agreed to indemnify Mr. Etten in respect of his services to the Company under the agreement. During the period from June 7, 2025 through October 31, 2025 (Successor), the Company paid Mr. Etten $<span id="xdx_90B_eus-gaap--PaymentsForFees_c20250607__20251031__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NicholasJEttenMember_zMyihqwgCVpd" title="Payments for fees">48,253</span> in respect of services related to this agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Promissory notes to former owner/current employee</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the Company’s acquisition of Fat Panda Ltd. on June 6, 2025, the Company issued the following promissory notes to related parties:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A promissory note with a principal amount of $<span id="xdx_901_eus-gaap--DebtInstrumentIssuedPrincipal_c20250605__20250606__srt--TitleOfIndividualAxis__custom--JordanVedoyaMember_zYK0bfPHvFg1" title="Debt instrumental principal">743,351</span> (CAD $<span id="xdx_906_eus-gaap--DebtInstrumentIssuedPrincipal_uCAD_c20250605__20250606__srt--TitleOfIndividualAxis__custom--JordanVedoyaMember_z2JGWm3DkUJh" title="debt instrumental principal">1,030,000</span>) to the President of Fat Panda Ltd., who is an employee of the Company and was a selling shareholder of Fat Panda Ltd.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A convertible promissory note with a principal amount of $<span id="xdx_907_eus-gaap--ConvertibleNotesPayable_iI_c20250605__srt--TitleOfIndividualAxis__custom--JordanVedoyaMember_zF6qsigtPYYj" title="Convertible promissory note">743,351</span> (CAD $<span id="xdx_900_eus-gaap--ConvertibleNotesPayable_iI_uCAD_c20250605__srt--TitleOfIndividualAxis__custom--JordanVedoyaMember_zAUSjKmr3T6i" title="Convertible promissory note">1,030,000</span>) to the President of Fat Panda Ltd.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A promissory note with a principal amount of $<span id="xdx_904_eus-gaap--NotesPayable_iI_c20250606__srt--TitleOfIndividualAxis__custom--JordanVedoyaMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z53e0FMIY2D3" title="Promissory note">360,850</span> (CAD $<span id="xdx_909_eus-gaap--NotesPayable_iI_uCAD_c20250606__srt--TitleOfIndividualAxis__custom--JordanVedoyaMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zE34JWFJFjsh" title="Promissory note">500,000</span>) to the selling shareholders of Fat Panda Ltd., one of whom continues to be an employee of the Company.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See Note 11, Related Party Note Payable and Related Party Convertible Note Payable, for additional details.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><b><i>Asset Management Agreement &amp; Accrued Fee with a Company Director</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Asset Manager is an entity that is majority-owned and controlled by Hans Thomas, a current member of the Company’s Board of Directors. In connection with the PIPE Transaction, the Company entered into the Asset Management Agreement with the Asset Manager, pursuant to which the Company engaged the Asset Manager to provide asset management and related services with respect to the Company’s digital assets strategy in exchange for the applicable management fees. During the quarter ended October 31, 2025, the Company’s accrued asset management fees payable to the Asset Manager were $<span id="xdx_900_ecustom--ManagementFees_iN_di_c20250801__20251031_z4356xNL5bN8" title="Asset management fees">1,798,357</span>, which were accrued but not paid to the Asset Manager during the quarter ended October 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> 0 2500 48253 743351 1030000 743351 1030000 360850 500000 -1798357 <p id="xdx_806_eus-gaap--SegmentReportingDisclosureTextBlock_ziaDpgclWMPl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 19 – <span><span><span><span id="xdx_821_zGyrmjskQXtc">Segment Reporting</span></span></span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the second quarter of 2026, the Company introduced a new business line focused on BNB Treasury Management and appointed a new Chief Executive Officer, who serves as the Chief Operating Decision Maker (“CODM”). These changes triggered a reassessment of the Company’s operating segments under ASC 280, Segment Reporting. As a result of this reassessment, the Company determined that it now operates<span id="xdx_903_eus-gaap--NumberOfOperatingSegments_dc_uSegment_c20250501__20251031_zoB3TK6HSF7i" title="Number of operating segments"> <span id="xdx_90A_eus-gaap--NumberOfReportableSegments_dc_uSegment_c20250501__20251031_ziwUD1z6Q5hd" title="Number of reportable segments">two</span></span> reportable segments: BNB Treasury Management and legacy CEA and retail operations. Comparative periods have been re-recast to reflect this change in segment composition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The CODM evaluates the financial performance of the business and makes resource allocation decisions based on these two distinct sources of business activity:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">BNB Treasury Management – This segment includes income from digital asset activities, costs and expenses related to building and executing the Company’s digital asset strategy, and fair value changes (unrealized gains or losses) on digital assets associated with the Company’s Binance holdings.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Retail and Industry Segment – This segment includes Fat Panda’s retail and distribution operations along with revenue and operating costs related to designing, engineering, and selling environmental control and other technologies for the Controlled Environment Agriculture industry.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The “Corporate” category presented in the following tale is not considered an operating segment. It consists primarily of corporate support functions including capital and funding to support the business activities of the company and includes costs and expenses not allocated to a line of business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The CODM uses Income (loss) from operations before provision for income taxes as the primary measure to assess segment performance. This measure is reviewed regularly by examining period-over-period trends, benchmarking against competitors, and monitoring budget versus actual results. The CODM also considers this metric when evaluating income generated from segment assets to determine whether to reinvest profits within the segment or allocate resources elsewhere in the entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables present (for each segment and consolidated total) the Company’s revenues and significant expenses regularly provided to the CODM, reconciled to Income (loss) from operations before provision for income tax (in thousands) for each of the periods presented. Total segment assets (in thousands) provided to the CODM are also disclosed in the tables below for each period presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_894_ecustom--ScheduleOfSegmentReportingInformationBySegmentTableTextBlock_zNj7dmD0L8oi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span style="display: none"><span id="xdx_8B6_zMr2uH9udDw3">Schedule of Segment Reporting Information</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250801__20251031__us-gaap--StatementBusinessSegmentsAxis__custom--CEAIndustrySegmentMember_zFd0xGdELOEh" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">CEA Industry Segment (Successor)</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250801__20251031__us-gaap--StatementBusinessSegmentsAxis__custom--BNBTreasuryManagementMember_z6201Hek5B5h" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250801__20251031__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zqdmAjeEeX3k" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Corporate</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250801__20251031_zgp9WpdbfGhe" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Total Consolidated</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><b> </b></td><td style="font-weight: bold; padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><b>Retail and</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><b>Industry Segment</b></p> (Successor)</td><td style="padding-bottom: 1pt; font-weight: bold"><b> </b></td><td style="font-weight: bold; padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>BNB Treasury Management Segment</b></td><td style="padding-bottom: 1pt; font-weight: bold"><b> </b></td><td style="font-weight: bold; padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>Corporate</b></td><td style="padding-bottom: 1pt; font-weight: bold"><b> </b></td><td style="font-weight: bold; padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>Total Consolidated</b></td><td style="padding-bottom: 1pt; font-weight: bold"><b> </b></td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zSBhxIWstAjl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Total Revenue, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,143,485</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1965">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1966">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,143,485</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CostOfRevenue_iN_di_zp5qdMu87B83" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,050,228</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1970">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1971">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,050,228</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--UnrealizedGainlossOnDigitalAssets_i01_zJxkFqlDliy8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Unrealized gain on digital asset</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1974">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,033,718</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1976">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,033,718</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AirdropIncome_i01_zi51H7rwGf78" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Other income from airdrop</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1979">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,827,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1981">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,827,578</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--MarketingAndAdvertisingExpense_iN_di_zgC7wbvjdMKj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Advertising and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(93,900</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1985">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,561,163</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,655,063</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--CompensationExpenses_i01_z0rh5lvr8329" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Compensation expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,600,475</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(70,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(61,187</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,731,662</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--ManagementFees_zNG4WAVERoC5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Asset management fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1994">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,798,357</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1996">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,798,357</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--ProfessionalFees_iN_di_zuHk8T3Q5AD2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Professional and contractor fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(966,609</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(207,855</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(602,302</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,776,766</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--EmployeeBenefitsAndShareBasedCompensationNoncash_i01_zdzA9guzlui8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,799</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2005">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,648</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,447</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--OtherSegmentExpenses_i01_zdP13M3gJVX4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Other segment expenses <span id="xdx_F41_z0r7CSgCNqGc">(1)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(928,040</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,280</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,400,013</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,329,333</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--FairValueAdjustmentOfWarrants_zBILE0XYYe5j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Change in fair value of warrant liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2014">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2015">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206,818,087</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206,818,087</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherOperatingIncomeExpenseNet_zaXWHEWBWmi6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left; padding-bottom: 1pt">Interest expense and other income, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(646,742</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2020">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2021">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(646,742</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_zz6Z4zNCa9Cd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations before provision for income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,146,308</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">117,783,804</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">186,166,774</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">301,804,270</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total Assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Assets_iI_c20251031__us-gaap--StatementBusinessSegmentsAxis__custom--CEAIndustrySegmentMember_zmSW6J7qtesf" style="text-align: right" title="Total Assets">16,931,635</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Assets_iI_c20251031__us-gaap--StatementBusinessSegmentsAxis__custom--BNBTreasuryManagementMember_zzRKFvjaTBFb" style="text-align: right" title="Total Assets">567,987,094</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Assets_iI_c20251031__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zOGfdZkLM6Dh" style="text-align: right" title="Total Assets">31,545,992</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--Assets_iI_c20251031_z1qtbPxgIAVd" style="text-align: right" title="Total Assets">616,464,721</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240801__20241031__us-gaap--StatementBusinessSegmentsAxis__custom--CEAIndustrySegmentMember__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zRVA4tL4hAne" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">CEA Industry Segment (<span id="xdx_905_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240801__20241031_zU5GsouKhgvh">Predecessor</span>)</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240801__20241031__us-gaap--StatementBusinessSegmentsAxis__custom--BNBTreasuryManagementMember_zxxqHezXi2Mi" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240801__20241031__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zYY7y8t6Pyba" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Corporate</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240801__20241031_z3rspPu1RuF6" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Total Consolidated</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Retail and</p> <p style="margin-top: 0; margin-bottom: 0">Industry Segment</p> <p style="margin-top: 0; margin-bottom: 0">(Predecessor)</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Corporate</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Consolidated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zEVWm2UKEiB6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Total Revenue, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,436,751</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">        <span style="-sec-ix-hidden: xdx2ixbrl2039">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">     <span style="-sec-ix-hidden: xdx2ixbrl2040">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,436,751</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CostOfRevenue_iN_di_zye2BPp1EIrb" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,591,637</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2044">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2045">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,591,637</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--MarketingAndAdvertisingExpense_iN_di_z55C9DWWKir2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Advertising and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(184,013</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2049">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2050">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(184,013</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--CompensationExpenses_i01_zJArmXBU51Fc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Compensation expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,466,776</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2054">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2055">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,466,776</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--ProfessionalFees_iN_di_z286KpLfucId" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Professional and contractor fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(140,925</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2059">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2060">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(140,925</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--OtherSegmentExpenses_i01_zOtEtYbv1mwl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left; padding-bottom: 1pt">Other segment expenses <span id="xdx_F48_zBw1KnezaXva">(1)</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(676,732</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2064">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2065">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(676,732</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_zp1Gcj893oN" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations before provision for income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">376,668</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2069">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2070">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">376,668</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250607__20251031__us-gaap--StatementBusinessSegmentsAxis__custom--CEAIndustrySegmentMember_zMVrqAMJlzlg" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">CEA Industry Segment (Successor)</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250607__20251031__us-gaap--StatementBusinessSegmentsAxis__custom--BNBTreasuryManagementMember_zNKLF8EsUXCe" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250607__20251031__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zoi86Nmx96d6" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Corporate</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250607__20251031_z1rhv4lFo0qj" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Total Consolidated</td><td style="border-right: Black 1pt solid; display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250501__20250606__us-gaap--StatementBusinessSegmentsAxis__custom--CEAIndustrySegmentMember__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zVqmT8Sxtr5c" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">CEA Industry Segment (<span id="xdx_90B_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250501__20250606_zVLaR9d8TMT9">Predecessor</span>)</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from June 7, 2025 to October 31, 2025</td><td style="border-right: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><b>Period from</b></p> <p style="margin-top: 0; margin-bottom: 0"><b>May 1, 2025 to</b></p> <p style="margin-top: 0; margin-bottom: 0"><b>June 6, 2025</b></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Retail and Industry Segment (Successor)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Corporate</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Consolidated</td><td style="border-right: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CEA Industry Segment (Predecessor)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zcfux7ocLxw3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 29%; text-align: left">Total Revenue, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">11,720,973</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2075">-</span></span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2076">-</span></span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">11,720,973</td><td style="border-right: Black 1pt solid; width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">2,927,689</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--CostOfRevenue_iN_di_ztWiYaeLBNa3" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,256,041</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2081">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2082">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,256,041</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,001,537</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_ecustom--UnrealizedGainlossOnDigitalAssets_i01_zu7gNcFFLRf1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unrealized gain on digital asset</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2086">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,033,718</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2088">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,033,718</td><td style="border-right: Black 1pt solid; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2090">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AirdropIncome_i01_zt6pGxeioZBg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other income from airdrop</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2092">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,827,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2094">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,827,578</td><td style="border-right: Black 1pt solid; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2096">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--MarketingAndAdvertisingExpense_iN_di_z25YeIp4h9Xh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advertising and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(165,524</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2099">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,561,163</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,726,687</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(63,202</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--CompensationExpenses_i01_zmK3izv6Z7f5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Compensation expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,090,567</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(70,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(88,904</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,249,471</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(431,340</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--ManagementFees_z0vaxv7gpAUf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Asset management fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2110">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,798,357</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2112">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,798,357</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2114">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ProfessionalFees_iN_di_zj5RnnxxIpnf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Professional and contractor fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,236,391</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(207,855</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(602,301</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,046,547</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(135,359</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--EmployeeBenefitsAndShareBasedCompensationNoncash_i01_zAOAdbHuzrag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,342,870</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2123">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,356,327</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,700,457</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2126">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--OtherSegmentExpenses_i01_zePVqqXB0jYd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other segment expenses <span id="xdx_F41_znLXjBBRpym4">(1)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,407,897</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,280</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,400,013</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,809,190</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(275,650</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--FairValueAdjustmentOfWarrants_zeqsIqZT4py8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value of warrant liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2134">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2135">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206,818,087</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206,818,087</td><td style="border-right: Black 1pt solid; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2138">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherOperatingIncomeExpenseNet_zsmaJA5mZeO5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Interest expense and other income, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(918,769</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2141">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2142">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(918,769</td><td style="border-right: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2144">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_zcGFANJQg47a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations before provision for income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(5,698,346</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">117,783,804</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">183,809,379</td><td style="padding-bottom: 2.5pt; text-align: left"></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">295,894,837</td><td style="border-right: Black 1pt solid; padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">20,602</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20240501__20241031__us-gaap--StatementBusinessSegmentsAxis__custom--CEAIndustrySegmentMember__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zui2825tk4qg" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">CEA Industry Segment (<span id="xdx_902_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20241031_zr9AWMWvdxAf">Predecessor</span>)</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240501__20241031__us-gaap--StatementBusinessSegmentsAxis__custom--BNBTreasuryManagementMember_z6HKHxvr4dp" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240501__20241031__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zthOyujDlIGf" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Corporate</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240501__20241031_zU8AO6ZH6ky" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Total Consolidated</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Retail and Industry Segment (Predecessor)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Corporate</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Consolidated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zHN6z22nzfrd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Total Revenue, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,405,418</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2154">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">    <span style="-sec-ix-hidden: xdx2ixbrl2155">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,405,418</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--CostOfRevenue_iN_di_zXIlRwSGxFHb" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,652,017</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">        <span style="-sec-ix-hidden: xdx2ixbrl2159">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2160">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,652,017</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--MarketingAndAdvertisingExpense_iN_di_zhectLmI7m7i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Advertising and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(297,205</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2164">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2165">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(297,205</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--CompensationExpenses_i01_zGRph9STr4Md" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Compensation expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,588,208</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2169">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2170">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,588,208</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--ProfessionalFees_iN_di_zkUMnFObr2nd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Professional and contractor fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(278,573</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2174">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2175">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(278,573</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--OtherSegmentExpenses_i01_zEsHyxVh6k9g" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left; padding-bottom: 1pt">Other segment expenses <span id="xdx_F4D_zyYEbmVka67f">(1)</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,348,671</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2179">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2180">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,348,671</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zwxi2xP5866" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations before provision for income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,240,744</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2184">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2185">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,240,744</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F01_zVOb8q3raDXc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F15_z1SAFnOXGUE6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes other selling, general, and administrative expenses such as occupancy expenses, maintenance expense, 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.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As noted in Note 1, Nature of Operations, On June 6, 2025 (the “Closing Date”), CEA industries Inc. completed the acquisition of the Fat Panda Group of Companies (“Fat Panda”) (the “Fat Panda Acquisition”). CEA Industries Inc. has been designated as the accounting acquirer (“Successor”), and Fat Panda as the accounting predecessor (“Predecessor”). Successor refers to CEA operations post-acquisition while predecessor refers to CEA operations pre-acquisition date consistent with the Consolidated Statements of Operations.</span></td></tr> </table> <p id="xdx_8AC_zqlGlJ0exkjb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 2 2 <p id="xdx_894_ecustom--ScheduleOfSegmentReportingInformationBySegmentTableTextBlock_zNj7dmD0L8oi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span style="display: none"><span id="xdx_8B6_zMr2uH9udDw3">Schedule of Segment Reporting Information</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250801__20251031__us-gaap--StatementBusinessSegmentsAxis__custom--CEAIndustrySegmentMember_zFd0xGdELOEh" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">CEA Industry Segment (Successor)</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250801__20251031__us-gaap--StatementBusinessSegmentsAxis__custom--BNBTreasuryManagementMember_z6201Hek5B5h" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250801__20251031__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zqdmAjeEeX3k" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Corporate</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250801__20251031_zgp9WpdbfGhe" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Total Consolidated</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><b> </b></td><td style="font-weight: bold; padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><b>Retail and</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><b>Industry Segment</b></p> (Successor)</td><td style="padding-bottom: 1pt; font-weight: bold"><b> </b></td><td style="font-weight: bold; padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>BNB Treasury Management Segment</b></td><td style="padding-bottom: 1pt; font-weight: bold"><b> </b></td><td style="font-weight: bold; padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>Corporate</b></td><td style="padding-bottom: 1pt; font-weight: bold"><b> </b></td><td style="font-weight: bold; padding-bottom: 1pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><b>Total Consolidated</b></td><td style="padding-bottom: 1pt; font-weight: bold"><b> </b></td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zSBhxIWstAjl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Total Revenue, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,143,485</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1965">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1966">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,143,485</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CostOfRevenue_iN_di_zp5qdMu87B83" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,050,228</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1970">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1971">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,050,228</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--UnrealizedGainlossOnDigitalAssets_i01_zJxkFqlDliy8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Unrealized gain on digital asset</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1974">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,033,718</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1976">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,033,718</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AirdropIncome_i01_zi51H7rwGf78" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Other income from airdrop</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1979">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,827,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1981">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,827,578</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--MarketingAndAdvertisingExpense_iN_di_zgC7wbvjdMKj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Advertising and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(93,900</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1985">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,561,163</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,655,063</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--CompensationExpenses_i01_z0rh5lvr8329" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Compensation expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,600,475</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(70,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(61,187</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,731,662</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--ManagementFees_zNG4WAVERoC5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Asset management fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1994">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,798,357</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1996">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,798,357</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--ProfessionalFees_iN_di_zuHk8T3Q5AD2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Professional and contractor fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(966,609</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(207,855</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(602,302</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,776,766</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--EmployeeBenefitsAndShareBasedCompensationNoncash_i01_zdzA9guzlui8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,799</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2005">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,648</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,447</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--OtherSegmentExpenses_i01_zdP13M3gJVX4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Other segment expenses <span id="xdx_F41_z0r7CSgCNqGc">(1)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(928,040</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,280</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,400,013</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,329,333</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--FairValueAdjustmentOfWarrants_zBILE0XYYe5j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Change in fair value of warrant liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2014">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2015">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206,818,087</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206,818,087</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherOperatingIncomeExpenseNet_zaXWHEWBWmi6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left; padding-bottom: 1pt">Interest expense and other income, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(646,742</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2020">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2021">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(646,742</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_zz6Z4zNCa9Cd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations before provision for income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,146,308</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">117,783,804</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">186,166,774</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">301,804,270</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total Assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Assets_iI_c20251031__us-gaap--StatementBusinessSegmentsAxis__custom--CEAIndustrySegmentMember_zmSW6J7qtesf" style="text-align: right" title="Total Assets">16,931,635</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Assets_iI_c20251031__us-gaap--StatementBusinessSegmentsAxis__custom--BNBTreasuryManagementMember_zzRKFvjaTBFb" style="text-align: right" title="Total Assets">567,987,094</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Assets_iI_c20251031__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zOGfdZkLM6Dh" style="text-align: right" title="Total Assets">31,545,992</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--Assets_iI_c20251031_z1qtbPxgIAVd" style="text-align: right" title="Total Assets">616,464,721</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240801__20241031__us-gaap--StatementBusinessSegmentsAxis__custom--CEAIndustrySegmentMember__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zRVA4tL4hAne" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">CEA Industry Segment (<span id="xdx_905_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240801__20241031_zU5GsouKhgvh">Predecessor</span>)</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240801__20241031__us-gaap--StatementBusinessSegmentsAxis__custom--BNBTreasuryManagementMember_zxxqHezXi2Mi" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240801__20241031__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zYY7y8t6Pyba" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Corporate</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240801__20241031_z3rspPu1RuF6" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Total Consolidated</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Retail and</p> <p style="margin-top: 0; margin-bottom: 0">Industry Segment</p> <p style="margin-top: 0; margin-bottom: 0">(Predecessor)</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Corporate</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Consolidated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zEVWm2UKEiB6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Total Revenue, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,436,751</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">        <span style="-sec-ix-hidden: xdx2ixbrl2039">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">     <span style="-sec-ix-hidden: xdx2ixbrl2040">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,436,751</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CostOfRevenue_iN_di_zye2BPp1EIrb" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,591,637</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2044">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2045">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,591,637</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--MarketingAndAdvertisingExpense_iN_di_z55C9DWWKir2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Advertising and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(184,013</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2049">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2050">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(184,013</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--CompensationExpenses_i01_zJArmXBU51Fc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Compensation expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,466,776</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2054">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2055">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,466,776</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--ProfessionalFees_iN_di_z286KpLfucId" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Professional and contractor fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(140,925</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2059">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2060">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(140,925</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--OtherSegmentExpenses_i01_zOtEtYbv1mwl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left; padding-bottom: 1pt">Other segment expenses <span id="xdx_F48_zBw1KnezaXva">(1)</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(676,732</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2064">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2065">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(676,732</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_zp1Gcj893oN" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations before provision for income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">376,668</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2069">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2070">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">376,668</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250607__20251031__us-gaap--StatementBusinessSegmentsAxis__custom--CEAIndustrySegmentMember_zMVrqAMJlzlg" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">CEA Industry Segment (Successor)</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250607__20251031__us-gaap--StatementBusinessSegmentsAxis__custom--BNBTreasuryManagementMember_zNKLF8EsUXCe" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250607__20251031__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zoi86Nmx96d6" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Corporate</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250607__20251031_z1rhv4lFo0qj" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Total Consolidated</td><td style="border-right: Black 1pt solid; display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250501__20250606__us-gaap--StatementBusinessSegmentsAxis__custom--CEAIndustrySegmentMember__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zVqmT8Sxtr5c" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">CEA Industry Segment (<span id="xdx_90B_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20250501__20250606_zVLaR9d8TMT9">Predecessor</span>)</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from June 7, 2025 to October 31, 2025</td><td style="border-right: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><b>Period from</b></p> <p style="margin-top: 0; margin-bottom: 0"><b>May 1, 2025 to</b></p> <p style="margin-top: 0; margin-bottom: 0"><b>June 6, 2025</b></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Retail and Industry Segment (Successor)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Corporate</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Consolidated</td><td style="border-right: Black 1pt solid; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CEA Industry Segment (Predecessor)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zcfux7ocLxw3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 29%; text-align: left">Total Revenue, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">11,720,973</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2075">-</span></span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2076">-</span></span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">11,720,973</td><td style="border-right: Black 1pt solid; width: 2%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">2,927,689</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--CostOfRevenue_iN_di_ztWiYaeLBNa3" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,256,041</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2081">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2082">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,256,041</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,001,537</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_ecustom--UnrealizedGainlossOnDigitalAssets_i01_zu7gNcFFLRf1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unrealized gain on digital asset</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2086">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,033,718</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2088">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,033,718</td><td style="border-right: Black 1pt solid; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2090">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AirdropIncome_i01_zt6pGxeioZBg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other income from airdrop</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2092">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,827,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2094">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,827,578</td><td style="border-right: Black 1pt solid; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2096">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--MarketingAndAdvertisingExpense_iN_di_z25YeIp4h9Xh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advertising and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(165,524</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2099">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,561,163</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,726,687</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(63,202</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--CompensationExpenses_i01_zmK3izv6Z7f5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Compensation expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,090,567</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(70,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(88,904</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,249,471</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(431,340</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--ManagementFees_z0vaxv7gpAUf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Asset management fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2110">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,798,357</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2112">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,798,357</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2114">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ProfessionalFees_iN_di_zj5RnnxxIpnf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Professional and contractor fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,236,391</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(207,855</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(602,301</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,046,547</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(135,359</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--EmployeeBenefitsAndShareBasedCompensationNoncash_i01_zAOAdbHuzrag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,342,870</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2123">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,356,327</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,700,457</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2126">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--OtherSegmentExpenses_i01_zePVqqXB0jYd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other segment expenses <span id="xdx_F41_znLXjBBRpym4">(1)</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,407,897</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,280</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,400,013</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,809,190</td><td style="border-right: Black 1pt solid; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(275,650</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--FairValueAdjustmentOfWarrants_zeqsIqZT4py8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value of warrant liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2134">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2135">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206,818,087</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206,818,087</td><td style="border-right: Black 1pt solid; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2138">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherOperatingIncomeExpenseNet_zsmaJA5mZeO5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Interest expense and other income, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(918,769</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2141">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2142">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(918,769</td><td style="border-right: Black 1pt solid; padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2144">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_zcGFANJQg47a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations before provision for income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(5,698,346</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">117,783,804</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">183,809,379</td><td style="padding-bottom: 2.5pt; text-align: left"></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">295,894,837</td><td style="border-right: Black 1pt solid; padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">20,602</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20240501__20241031__us-gaap--StatementBusinessSegmentsAxis__custom--CEAIndustrySegmentMember__us-gaap--FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis__custom--PredecessorMember_zui2825tk4qg" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">CEA Industry Segment (<span id="xdx_902_eus-gaap--FinancialDesignationPredecessorAndSuccessorFixedList_c20240501__20241031_zr9AWMWvdxAf">Predecessor</span>)</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240501__20241031__us-gaap--StatementBusinessSegmentsAxis__custom--BNBTreasuryManagementMember_z6HKHxvr4dp" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240501__20241031__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zthOyujDlIGf" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Corporate</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240501__20241031_zU8AO6ZH6ky" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">Total Consolidated</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended October 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Retail and Industry Segment (Predecessor)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">BNB Treasury Management Segment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Corporate</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total Consolidated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zHN6z22nzfrd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Total Revenue, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,405,418</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2154">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">    <span style="-sec-ix-hidden: xdx2ixbrl2155">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,405,418</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--CostOfRevenue_iN_di_zXIlRwSGxFHb" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,652,017</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">        <span style="-sec-ix-hidden: xdx2ixbrl2159">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2160">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,652,017</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--MarketingAndAdvertisingExpense_iN_di_zhectLmI7m7i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Advertising and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(297,205</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2164">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2165">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(297,205</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--CompensationExpenses_i01_zGRph9STr4Md" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Compensation expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,588,208</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2169">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2170">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,588,208</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--ProfessionalFees_iN_di_zkUMnFObr2nd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Professional and contractor fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(278,573</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2174">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2175">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(278,573</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--OtherSegmentExpenses_i01_zEsHyxVh6k9g" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left; padding-bottom: 1pt">Other segment expenses <span id="xdx_F4D_zyYEbmVka67f">(1)</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,348,671</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2179">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2180">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,348,671</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zwxi2xP5866" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations before provision for income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,240,744</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2184">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2185">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,240,744</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F01_zVOb8q3raDXc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F15_z1SAFnOXGUE6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes other selling, general, and administrative expenses such as occupancy expenses, maintenance expense, 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.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As noted in Note 1, Nature of Operations, On June 6, 2025 (the “Closing Date”), CEA industries Inc. completed the acquisition of the Fat Panda Group of Companies (“Fat Panda”) (the “Fat Panda Acquisition”). CEA Industries Inc. has been designated as the accounting acquirer (“Successor”), and Fat Panda as the accounting predecessor (“Predecessor”). Successor refers to CEA operations post-acquisition while predecessor refers to CEA operations pre-acquisition date consistent with the Consolidated Statements of Operations.</span></td></tr> </table> 7143485 7143485 5050228 5050228 114033718 114033718 5827578 5827578 93900 4561163 4655063 -1600475 -70000 -61187 -1731662 -1798357 -1798357 966609 207855 602302 1776766 -3799 -26648 -30447 -928040 -1280 -15400013 -16329333 206818087 206818087 -646742 -646742 -2146308 117783804 186166774 301804270 16931635 567987094 31545992 616464721 Predecessor 7436751 7436751 4591637 4591637 184013 184013 -1466776 -1466776 140925 140925 -676732 -676732 376668 376668 Predecessor 11720973 11720973 2927689 8256041 8256041 2001537 114033718 114033718 5827578 5827578 165524 4561163 4726687 63202 -2090567 -70000 -88904 -2249471 -431340 -1798357 -1798357 2236391 207855 602301 3046547 135359 -2342870 -2356327 -4700457 -1407897 -1280 -15400013 -16809190 -275650 206818087 206818087 -918769 -918769 -5698346 117783804 183809379 295894837 20602 Predecessor 14405418 14405418 8652017 8652017 297205 297205 -2588208 -2588208 278573 278573 -1348671 -1348671 1240744 1240744 <p id="xdx_808_eus-gaap--SubsequentEventsTextBlock_zSF24FP8wzU" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 20 – <span id="xdx_82E_z9Y5yGukHrn7">Subsequent Events</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">On December 3, 2025, the Company repaid in full the $<span id="xdx_902_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20251203__us-gaap--AssetAcquisitionAxis__custom--FatPandaIncMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zqitmFmeTz16" title="Loan repaid">4,000,000</span> interim loan facility with CEAD Panda Lender LLC, which was entered into in connection with the acquisition of Fat Panda Inc. on June 6, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">During November 2025, subsequent to the Company’s fiscal quarter ended October 31, 2025, the Company repurchased <span id="xdx_909_eus-gaap--StockRepurchasedDuringPeriodShares_pn3n6_c20251101__20251130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zdCBobPV6uqk" title="Number of shares repurchased">1.278</span> million shares of its common stock at a weighted-average price of $<span id="xdx_907_eus-gaap--SharePrice_iI_pid_c20251130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z1iY39fqZBtg" title="Weighted-average price per share">5.36</span> per share. The aggregate purchase price for these shares was approximately $<span id="xdx_900_eus-gaap--StockRepurchasedDuringPeriodValue_pn2n6_c20251101__20251130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zCb6vVVE0RV5" title="Purchase price">6.85</span> million. The repurchases were made under the Company’s authorized share repurchase program and were funded through available cash resources.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with ASC 855, Subsequent Events, the Company has evaluated all subsequent events through the date of issuance of these financial statements issued. Other than the repayment noted above, no material subsequent events occurred after October 31, 2025.</span></p> 4000000 1278000 5.36 6850000 Includes other selling, general, and administrative expenses such as occupancy expenses, maintenance expense, 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.