v3.26.1
Acquisitions, Investments and Disposals (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Acquisitions, Investments and Disposals [Abstract]    
Schedule of Components of the Purchase Price The final purchase price allocation is as follows:
Asset Description  Amount 
Intangible Assets  $7,821,867 
Cash   389 
Prepaid Expenses   3,392 
Property & Equipment   201,452 
Deposits and Other Assets   24,837 
Operating Lease ROU Asset   491,830 
Total Assets Acquired  $8,543,767 
Less: Deferred Revenue  $(228,371)
Less: Notes Payable   (312,697)
Less: Operating Lease Liability   (547,438)
Less: Accounts Payable and Accrued Liabilities   (1,103,239)
Net Assets Acquired   6,352,022 
Goodwill   8,087,902 
Total Purchase Price  $14,439,924 
 The final purchase price allocation is as follows:
Asset Description  Amount 
Intangible Assets  $7,821,867 
Cash   389 
Prepaid Expenses   3,392 
Property & Equipment   201,452 
Deposits and Other Assets   24,837 
Operating Lease ROU Asset   491,830 
Total Assets Acquired  $8,543,767 
Less: Deferred Revenue   (228,371)
Less: Notes Payable   (312,697)
Less: Operating Lease Liability   (547,438)
Less: Accounts Payable and Accrued Liabilities   (1,103,239)
Net Assets Acquired  $6,352,022 
Goodwill   8,087,902 
Total Purchase Price  $14,439,924 
Schedule of Fair Value of Total Consideration Received The fair value of total consideration received was as follows:
Fair Value of Consideration Received  Amount 
Cash  $1,035,827 
Promissory note receivable, at fair value   4,787,469 
Series D convertible preferred stock, at fair value   5,614,086 
Company liabilities assumed by the Buyer   239,446 
Total Fair Value of Consideration Received  $11,676,828 
  
Schedule of Net Assets of the Disposal Group

The carrying value of the net assets of the Disposal Group derecognized upon the loss of control was as follows:

 

Assets    
Cash and cash equivalents  $42,495 
Accounts receivable, net   985 
Prepaid expenses   74,492 
Property and equipment, net (aircraft, etc.)   155,216 
Right-of-use assets (operating leases)   524,548 
Deposits and other assets   48,615 
Goodwill   7,818,805 
Intangible assets   7,375,476 
Total Assets  $16,040,632 
Liabilities     
Accounts payable and accrued liabilities  $493,278 
Deferred revenue   190,850 
Note payable   235,158 
Operating lease payable   507,910 
Intercompany payable, net   896,380 
Total Liabilities   2,323,576 
Net assets of the Disposal Group  $13,717,056 

The following table presents the major classes of assets and liabilities of the discontinued operation as of December 31, 2025:

 

   December 31,
2025		 
Assets:    
Cash  $25,671 
Accounts receivable, net   1,530 
Prepaid expenses and other current assets   74,492 
Property and equipment, net   176,866 
Operating lease right-of-use asset, net   586,310 
Goodwill   7,818,805 
Intangible assets, net   7,457,961 
Deposits and other assets   48,615 
Total assets of discontinued operations  $16,190,250 
      
Liabilities:     
Accounts payable and accrued liabilities  $339,073 
Deferred revenue   166,517 
Notes payable, net of debt discount and issuance costs   419,056 
Operating lease payable   567,423 
Total liabilities of discontinued operations  $1,492,069 

The following table presents the major line items constituting the loss from discontinued operations for the year ended December 31, 2025:

 

   Year Ended
December 31,
2025		 
Net revenue  $1,913,443 
Cost of revenue   (1,570,826)
Compensation   (754,760)
Marketing   (90,706)
Stock-based compensation   (2,885,097)
General and administrative   (627,377)
Amortization of intangible assets   (363,906)
Impairment of goodwill   (223,579)
Interest expense   (57,048)
Settlement of liabilities, net   425,330 
Loss from discontinued operations, net of tax  $(4,234,526)
Schedule of Loss Recognized on the Divestiture

The loss recognized on the divestiture was calculated as follows:

 

Fair Value of Consideration Received  $11,676,828 
Carrying value of net assets of the Disposal Group   (13,717,056)
Noncontrolling interest derecognized   1,953,772 
Intercompany balances waived   (796,384)
Transaction costs   (30,000)
Loss on sale of subsidiaries, before income taxes  $(912,840)
  
Schedule of Carrying Value of Noncontrolling Interest The carrying value of the noncontrolling interest at the closing date was determined as follows:
Noncontrolling interest at inception (19.98% of Fly Flyte)  $2,885,097 
Loss attributable to noncontrolling interest through December 31, 2025   (756,776)
Loss attributable to noncontrolling interest, January 1, 2026 through March 9, 2026   (174,549)
Noncontrolling interest at March 9, 2026  $1,953,772 
  
Schedule of Pro Forma Combined Results of Operations   The following pro forma information presents the combined results of operations as if the acquisitions had occurred on January 1, 2024.
   As of
December 31,
2025		   As of
December 31,
2024		 
Current Assets   846,339    115,323 
Non-Current Assets   17,295,608    5,983,135 
Total Assets  $18,141,947   $6,098,458 
           
Current Liabilities   8,760,728    18,787,002 
Non-Current Liabilities   308,510    3,551,643 
Total Liabilities  $9,069,238   $22,338,645 
           
Mezzanine Equity   84,790    84,790 
Total Stockholders' Equity (Deficit)  $8,987,919   $(16,324,977)
   For the
Year Ended
December 31,
2025		   For the
Year Ended
December 31,
2024		 
Revenue  $3,366,411   $3,946,445 
Cost of Revenue   2,011,384    2,201,900 
Gross Profit   1,355,027    1,744,545 
           
Operating Expenses   14,456,452    17,141,229 
Other income (expenses), net   3,208,409    6,868,878 
Net Loss  $(9,893,016)  $(8,527,806)