Convertible Preferred Stock (Tables)

6 Months Ended

12 Months Ended

Mar. 31, 2026

Dec. 31, 2025

Temporary Equity Disclosure [Abstract]

Schedule of Preferred Stock

As of March 31, 2026, preferred stock was made up of the following:

Series		Original Issue Price				Liquidation Preference/Share		Shares Authorized				Shares Issued and Outstanding				Carrying Value				Common Stock Issuance Upon Conversion				Liquidation Preference
Series Seed			2.62			2.62			2,500,435				615,092			$	1,525,824				615,092			$	1,616,887
Series A			3.40			3.40			4,883,780				139,679				265,935				139,679				475,363
Series A-2			5.33			5.33			1,918,688				398,665				2,124,884				398,665				2,124,884
Series B-1			8.23			8.23			5,494,038				2,643,172				21,626,220				2,643,172				21,753,306
Series B-2			9.40			9.40			11,921				4,783				44,960				4,783				44,960
Series B-3			6.23			6.23			3,206,844				916,106				5,239,129				916,106				5,713,433
Series B-4			2.68			2.68			3,419,398				3,419,398				30,493,849				3,419,398				9,191,000
Series B-5			3.83			3.83			551,935				551,935				5,557,908				551,935				2,119,353
Total									21,987,039				8,688,830			$	66,878,709				8,688,830			$	43,039,186

As of September 30, 2025, preferred stock was made up of the following:

Series		Original Issue Price				Liquidation Preference/Share				Shares Authorized				Shares Issued and Outstanding				Carrying Value				Common Stock Issuance Upon Conversion				Liquidation Preference
Series Seed			2.62				2.62				2,500,435				2,500,435			$	6,481,810				2,500,435			$	6,572,873
Series A			3.40				3.40				4,883,780				4,883,780				16,411,362				4,883,780				16,620,724
Series A-2			5.33				5.33				1,918,688				1,918,688				10,226,607				1,918,688				10,226,607
Series B-1			8.23				8.23				5,494,038				5,494,038				45,088,848				5,494,038				45,215,933
Series B-2			9.40				9.40				11,921				11,921				112,057				11,921				112,057
Series B-3			6.23				6.23				3,206,844				214,757				1,339,364				214,757				1,339,364
Series B-4			2.68				2.68				3,419,398				3,419,398				30,493,849				3,419,398				9,191,000
Series B-5			3.83				3.83				551,935				551,935				5,557,908				551,935				2,119,353
Total											21,987,039				18,994,952			$	115,711,805				18,994,952			$	91,397,911

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References + Details