v3.26.1
Discontinued Operations (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Discontinued Operations [Abstract]    
Schedule of Balance Sheet Discontinued Operation

The following table presents the major classes of assets and liabilities of the discontinued operations as of 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  $339,074 
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  $1,492,070 

The following tables present certain financial information related to our reportable segments and Corporate:

   Vocal   OG
Collection		   Corporate   Total 
Cash  $124,605   $5,772   $91,365   $221,742 
Accounts receivable, net   
-
    
-
    10,000    10,000 
Prepaid expenses and other current assets   93,731    
-
    167,190    260,921 
Intangible assets, net   
-
    
-
    28,043    28,043 
Goodwill   
-
    
-
    
-
    
-
 
All other assets   
-
    
-
    1,430,991    1,430,991 
Total Assets  $218,336   $5,772   $1,727,589   $1,951,697 
                     
Accounts payable and accrued liabilities  $385,191   $250   $4,900,324   $5,285,765 
Note payable, net of debt discount and issuance costs   66,228    
-
    54,902    121,130 
Deferred revenue   118,862    
-
    
-
    118,862 
Convertible Notes, net of debt discount and issuance costs   
-
    
-
    383,374    383,374 
All other liabilities   
-
    
-
    1,668,038    1,668,038 
Total Liabilities  $570,281   $250   $7,006,638   $7,577,169 
Total segment assets – continuing operations  $1,951,697 
Assets of discontinued operations (Note 13)   16,190,250 
Total consolidated assets  $18,141,947 
      
Total segment liabilities – continuing operations  $7,577,169 
Liabilities of discontinued operations (Note 13)   1,492,069 
Total consolidated liabilities  $9,069,238 
   Vocal   OG
Collection		   Corporate   Total 
Cash  $5,152   $1,319   $9,019   $15,490 
Accounts receivable, net   
-
    
-
    2,000    2,000 
Deposits and other assets   
-
    
-
    83,616    83,616 
Intangible assets, net   
-
    
-
    103,550    103,550 
Goodwill   
-
    
-
    5,415    5,415 
All other assets   
-
    
-
    2,052,278    2,052,278 
Total Assets  $5,152   $1,319   $2,255,878   $2,262,349 
                     
Accounts payable and accrued liabilities  $507,374   $17,447   $7,925,983   $8,450,804 
Note payable, net of debt discount and issuance costs   88,695    
-
    859,304    947,999 
Deferred revenue   146,950    
-
    
-
    146,950 
Convertible Notes, net of debt discount and issuance costs   
-
    
-
    1,216,158    1,216,158 
All other liabilities   
-
    
-
    1,798,758    1,798,758 
Total Liabilities  $743,019   $17,447   $11,800,203   $12,560,669 
Schedule of Operating Lease

Operating right-of-use assets are summarized below.

 

   As of
March 31,
2026		   As of
March 9,
2026		   As of
December 31,
2025		 
Office and Plane Leases  $
—
   $752,101   $725,501 
Less accumulated amortization   
—
    (227,553)   (139,191)
Right-of-use asset, net  $
—
   $524,548   $586,310 

 

Operating lease liabilities are summarized below

 

   As of
March 31,
2026		   As of
March 9,
2026		   As of
December 31,
2025		 
Office and Plane Leases  $
—
   $507,910   $567,423 
Less: current portion   
—
    (337,667)   (331,137)
Long term portion  $
—
   $170,243   $236,286 
The components of the lease expense were as follows:
   Three Months
Ended
March 31,
2026		   Three Months
Ended
March 31,
2025		 
Operating lease cost  $67,077   $18,519 
Short term lease cost   
-
    
-
 
Total net lease cost  $67,077   $18,519 

The components of lease expense of the Disposal Group, which are included within loss from discontinued operations, were as follows:

 

   Year Ended
December 31,
2025		 
Operating lease cost  $162,862 
Short term lease cost   108,800 
Total lease cost  $271,662 
Schedule of Statement of Operation Discontinued Operation

The following table summarizes the major classes of line items included in loss from discontinued operations:

 

   Three months ended
March 31,		 
   2026   2025 
Net Revenue  $323,429   $136,131 
Cost of Revenue   (333,201)   (121,073)
Gross Margin   (9,772)   15,058 
General and Administrative   280,656    154,564 
Compensation   165,882    154,637 
Marketing   10,189    395 
Interest expense   
—
    6,654 
Loss from discontinued operations   (466,499)   (301,192)
Net loss on disposition of business   (912,840)   
—
 
Loss from discontinued operations  $(1,379,339)  $(301,192)
  
Schedule of Supplemental Cash Flow and Other Information

Supplemental cash flow and other information related to leases was as follows:

 

   Three Months
Ended
March 31,
2026		   Three Months
Ended
March 31,
2025		 
Cash paid for amounts included in the measurement of lease liabilities:        
Operating lease payments  $64,829   $7,289 
Weighted average remaining lease term (in years):   N/A    2.42 
Weighted average discount rate:   N/A    5.50%
  
Schedule of Discontinued Operation

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 Supplemental Cash Flow and Other Information  

Supplemental cash flow and other information related to leases was as follows:

 

   Year Ended
December 31,
2025		 
Cash paid for amounts included in the measurement of lease liabilities:    
Operating lease payments  $162,862 
Weighted average remaining lease term (in years):   1.69 
Weighted average discount rate:   6.25%
Schedule of Operating Leases   Operating right-of-use assets are summarized below.
   December 31,
2025		 
Office and Plane Leases  $725,501 
Less accumulated amortization   (139,191)
Right-of-use asset, net  $586,310 
   December 31,
2025		 
Office and Plane Leases  $567,423 
Less: current portion   (331,137)
Long term portion  $236,286 
Schedule of Future Minimum Payments  

Total future minimum payments required under the leases of the Disposal Group as of December 31, 2025 are as follows:

 

   Operating
Leases		 
2026  $355,117 
2027   237,666 
Total   592,783 
Less imputed interest   (25,360)
PV of Payments  $567,423