v3.26.1
ACQUISITIONS - SECURITIZE, INC. AND SUBSIDIARIES (Tables) - Securitize, Inc. and Subsidiaries
 3 Months Ended
Mar. 31, 2026
Business Combination [Line Items]  
Schedule of Business Combination
The following table summarizes the approximate values of consideration paid and the net assets acquired on the acquisition date:
Purchase consideration:
Cash, net of cash acquired$21,090,525 
Fair value of identifiable assets acquired and liabilities assumed:
Customer relationships$9,400,000 
Prepaid expenses109,538 
Total identifiable assets acquired9,509,538 
Accounts payable(991,616)
Deferred revenue(462,398)
Total liabilities assumed(1,454,014)
Net identifiable assets acquired8,055,524 
Goodwill13,035,001 
Net assets acquired$21,090,525 
The following table summarizes the approximate values of consideration paid and the net assets acquired on the acquisition date:
Purchase consideration:
Cash, net of cash acquired
$21,090,525 
Fair value of identifiable assets acquired and liabilities assumed:
Customer relationships
$9,400,000 
Prepaid expenses
109,538 
Total identifiable assets acquired
9,509,538 
Accounts payable
(991,616)
Deferred revenue
(462,398)
Total liabilities assumed
(1,454,014)
Net identifiable assets acquired
8,055,524 
Goodwill
13,035,001 
Net assets acquired
$21,090,525 
The following table summarizes the approximate values of consideration paid and the net assets acquired on the acquisition date:
Purchase consideration:
Cash, net of cash acquired
$5,644,898 
Contingent consideration – common stock (20,513 shares)
53,539 
Portion of seller’s transaction costs paid by the Company
94,216 
$5,792,653 
Fair value of identifiable assets acquired and liabilities assumed:
Customer relationships
$3,100,000 
Accounts receivable
225,645 
Prepaid expenses and other assets
136,231 
Total identifiable assets acquired
3,461,876 
Accrued expenses and other current liabilities
(486,517)
Total liabilities assumed
(486,517)
Net identifiable assets acquired
2,975,359 
Goodwill
2,817,294 
Net assets acquired
$5,792,653 
Schedule of Pro Forma Information
The following table shows the proforma financial information for the Company and MG Stover:
For the
Three Months
Ended
March 31, 2025
Revenues$19,057,115 
Net loss from continuing operations$(4,262,814)
Net loss from continuing operations per basic and diluted share$(0.48)
Weighted average common shares outstanding:
Basic and Diluted8,812,021 
The following table shows the proforma financial information for the Company, Theorem, and MG Stover:
For the Year Ended
December 31,
20252024
Revenues
$68,938,369 $42,492,286 
Net loss from continuing operations
$(40,591,094)$(19,172,023)
Net loss from continuing operations per basic and diluted share
$(4.60)$(2.13)
Weighted average common shares outstanding:
Basic and Diluted
8,822,260 9,006,533