v3.26.1
NON-CONTROLLING INTEREST
3 Months Ended
Mar. 31, 2026
Noncontrolling Interest [Abstract]  
NON-CONTROLLING INTEREST

17. NON-CONTROLLING INTEREST

 

On March 15, 2023, the Company signed an agreement with its partner in the jointly owned subsidiary EnderbyWorks, LLC to become the 100% owner of this entity. The agreement includes a secured promissory note receivable due to the Company by Enderby Entertainment in the amount of $1,828,000. The note receivable has an annual interest rate of 8% and was due on July 6, 2024. There is also a royalty clause on the existing assets that EnderbyWorks will pay the former partner 50% of the first $6,000,000 in net revenue, if revenues are generated in the future. The acquisition of the non-controlling interest in Enderby Works was received for no cash consideration and only the exchange of a note receivable due to the Company and a contingent royalty obligation owed to Enderby Entertainment by Enderby Works should it generate revenues in the future.

 

The following table sets forth a summary of the changes in non-controlling interest:

 

   March 31,
2026
   December 31,
2025
 
Non-controlling interest beginning of the period  $(161,258)  $(161,258)
Non-controlling interest end of period  $(161,258)  $(161,258)