| Investments in Digital Commodities |
Note
6. - Investments in Digital Commodities
The
following table summarizes digital commodities held for investment:
Schedule
of Digital Commodities Held for Investment
| | |
June 30, 2026 | |
| | |
Units | | |
Cost Basis | | |
Fair Value | |
| SOL | |
| 2,003,676 | | |
$ | 381,570,910 | | |
$ | 144,282,193 | |
| | |
December 31, 2025 | |
| | |
Units | | |
Cost Basis | | |
Fair Value | |
| SOL | |
| 2,077,799 | | |
$ | 403,063,288 | | |
$ | 250,111,125 | |
The
Company recognizes digital commodities at fair value.
The
Company valued the SOL treasury at $73.60 per liquid token and $67.34 per locked token at June 30, 2026 and $124.26 per liquid token
and $111.83 per locked token at December 31, 2025.
Schedule
of Losses (Gains) On Digital Commodities and Revenue from Staking
| | |
| | |
Six months ended June 30, 2026 | | |
| |
| Digital Commodity Units | |
SOL | | |
Cost Basis $ USD | | |
Realized Loss | | |
Selling Price Per Unit | | |
Cost Basis Per Unit | |
| Beginning digital commodities | |
| 2,077,799 | | |
$ | 403,063,288 | | |
| | | |
| | | |
| | |
| Dispositions of digital commodities | |
| (135,399 | ) | |
| (27,186,264 | ) | |
| (14,716,799 | ) | |
| 92 | | |
| 201 | |
| Staking rewards received | |
| 61,277 | | |
| 5,457,656 | | |
| | | |
| | | |
| | |
| Rebate & Rewards Receivable Less Fees Paid | |
| | | |
| 236,230 | | |
| | | |
| | | |
| | |
| Ending Digital Commodities | |
| 2,003,676 | | |
| 381,570,910 | | |
| | | |
| | | |
| | |
| Unrealized loss | |
| | | |
| (237,288,716 | ) | |
| | | |
| | | |
| | |
| Ending Digital Commodities | |
| 2,003,676 | | |
$ | 144,282,193 | | |
| | | |
| | | |
| | |
The
following table summarizes the composition of SOL held broken out by liquid and locked as of June 30, 2026 and December 31, 2025:
Schedule of Solana Tokens Held Broken Out by Liquid and Locked
| Number of SOL units | |
June
30, 2026 | | |
December
31, 2025 | |
| Liquid SOL | |
| 1,494,026 | | |
| 1,427,857 | |
| Locked SOL | |
| 509,650 | | |
| 649,942 | |
| Total | |
| 2,003,676 | | |
| 2,077,799 | |
The
following table summarizes the unlocking schedule of SOL tokens locked as of June 30, 2026 and December 31, 2025:
Schedule
of Sol tokens Fiscal Year Maturity
| Locked SOL Maturity | |
June
30, 2026 | | |
December
31, 2025 | |
| Through Year End 2026 | |
| 156,371 | | |
| 307,728 | |
| Through Year End 2027 | |
| 324,679 | | |
| 314,510 | |
| Through Year End 2028 | |
| 28,600 | | |
| 27,704 | |
| Total | |
| 509,650 | | |
| 649,942 | |
The
margin loan at December 31, 2025 of $3,084,931 was repaid in February 2026 and the related collateral of 40,000 Solana was released.
|