v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 6,735,250 $ 14,644,384
Restricted cash 1,552,921 1,119,580
Accounts receivable, net 1,611,793 1,630,987
Lease receivable, net 56,975 156,516
Loans held for investment, net of allowance for credit losses of $943,713 and $778,704 as of June 30, 2026 and December 31, 2025, respectively 7,310,976 6,148,072
Lease merchandise, net of accumulated depreciation of $580,592 and $938,959 as of June 30, 2026 and December 31, 2025, respectively 219,408 960,024
Interest receivable 270,718 250,450
Prepaid expenses and other current assets 1,941,565 2,450,321
Current assets held for sale (Note 4) 3,629,058 4,407,921
Total current assets 23,328,664 31,768,255
Loans held for investment, net of allowance for credit losses of $204,679 and $150,702 as of June 30, 2026 and December 31, 2025, respectively, non-current 1,336,582 1,189,832
Lease merchandise, net of accumulated depreciation of $93,616 and $72,335 as of June 30, 2026 and December 31, 2025, respectively, non-current 152,330 329,463
Property and equipment, net 134,676 187,262
Intangible assets, net 12,804,583 14,573,323
Goodwill 10,930,978 10,930,978
Operating lease right-of-use assets 511,215 669,356
Deposits 29,939 29,939
Total assets 49,228,967 59,678,408
Current liabilities:    
Revolving line of credit 7,348,052 6,174,546
Accounts payable 4,817,664 5,351,651
Accrued expenses 1,013,430 1,205,386
Operating lease liabilities, current portion 321,504 323,842
Current liabilities held for sale (Note 4) 2,356,003 2,612,041
Total current liabilities 15,856,653 15,667,466
Earn-out liabilities 21,000 540,000
Warrant liabilities 515,000 1,230,250
Operating lease liabilities 200,123 354,286
Total liabilities 45,042,276 46,241,502
Commitments and contingencies (Note 16)
Stockholders’ equity    
Preferred stock, $0.0001 par value; 50,000,000 authorized shares; no shares issued and outstanding as of June 30, 2026 and December 31, 2025 0 0
Additional paid-in capital [1] 172,774,479 169,948,371
Accumulated deficit (168,588,124) (156,512,096)
Total stockholders’ equity 4,186,691 13,436,906
Total liabilities and stockholders’ equity 49,228,967 59,678,408
Related Party    
Current liabilities:    
Convertible promissory notes 20,000,000 20,000,000
Nonrelated Party    
Current liabilities:    
Convertible promissory notes 8,449,500 8,449,500
Class A Common Stock    
Stockholders’ equity    
Common Stock 336 310
Class C Common Stock    
Stockholders’ equity    
Common Stock $ 0 $ 321
[1] Results have been adjusted to reflect the reverse stock split of the Class A Common Stock at a ratio of 1-for-15 that became effective July 13, 2026. See Note 1 — Organization and Business Operations for further details.