v3.26.1
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 497 $ 534
USDC 0 10,964
Accounts receivable, net 184 147
Prepayments and other current assets 136 67
Deposit on digital media investment 10,000 0
Contractual right to offset 0 13
Total current assets 10,817 11,725
Acquired and other intangible assets, net 1,014 825
Investment in crypto assets 3,096 5,222
Investment in Ryvyl 6,500 6,500
Related party note receivable, net 4,167 4,208
Other assets 331 34
Total assets 25,925 28,514
Current liabilities:    
Accounts payable 1,890 1,751
Accrued expenses and other 10 40
Unearned revenue 62 109
March 2026 convertible note and warrant 1,532 0
Deferred cost - contract liability - current 0 13
Total current liabilities 3,494 1,913
March 2026 convertible note and warrant price protection feature 468 0
Total liabilities 3,962 1,913
Stockholders’ equity (deficit):    
Preferred Stock Value 0 0
Additional paid-in capital 40,528 40,387
Accumulated deficit (18,565) (13,786)
Total stockholders’ equity 21,963 26,601
Total liabilities and stockholders’ equity 25,925 28,514
Common Class B    
Stockholders’ equity (deficit):    
Ordinary share value 0 0
Common Class A    
Stockholders’ equity (deficit):    
Ordinary share value $ 0 $ 0