v3.26.1
REVENUES (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue The disaggregation of the Company’s revenue by major sources is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Asset management:
Asset management fees, related party$5,612,942 $6,700,984 $12,269,406 $13,399,185 
Asset management fees729,950 1,503,839 1,717,005 2,232,849 
Servicing revenue, related party826,350 454,065 1,586,587 780,552 
Servicing revenue46,411 102,988 101,799 122,367 
Total asset management revenue7,215,653 8,761,876 15,674,797 16,534,953 
Life solutions:
Revenue from life insurance policies using the fair value method, net
50,238,503 29,621,941 81,700,560 62,555,802 
Revenue from life insurance policies using the fair value method, related party, net
11,337,470 16,175,271 27,888,091 17,076,617 
Insurance commissions1,881,126 — 3,511,802 — 
Fee-based services— 338,787 — 338,787 
Revenue from life insurance policies held using the investment method, related party167,330 — 167,330 — 
Originations1,800,631 1,164,845 2,724,565 3,628,295 
Total life solutions revenue65,425,060 47,300,844 115,992,348 83,599,501 
Technology services:
Technology services379,277 161,900 743,133 229,512 
Total technology services revenue379,277 161,900 743,133 229,512 
Total revenue$73,019,990 $56,224,620 $132,410,278 $100,363,966 
Further disaggregation of life solutions revenue for the three and six months ended June 30, 2026:
Three Months Ended June 30,Six Months Ended June 30,
20262026
Life solutions:
Realized gains from life insurance policies sold and matured using the fair value method
$20,753,663 $25,716,729 
Premiums paid on sold and matured life insurance policies using the fair value method
(288,110)(348,275)
Premiums paid on life insurance policies held using the fair value method
(5,730,887)(11,603,862)
Reversal of unrealized gains from prior quarters related to life insurance policies sold or matured using the fair value method
(5,776,428)(7,550,594)
Unrealized gains from life insurance policies held using the fair value method41,280,265 75,486,562 
Revenue from life insurance policies using the fair value method, net
50,238,503 81,700,560 
Realized gains from life insurance policies sold and matured using the fair value method, related party
55,946,497 143,878,143 
Three Months Ended June 30,Six Months Ended June 30,
20262026
Premiums paid on sold life insurance policies using the fair value method, related party
(2,351,584)(6,095,192)
Reversal of unrealized gains from prior quarters related to life insurance policies sold and matured using the fair value method, related party
(42,257,443)(109,894,860)
Revenue from life insurance policies using the fair value method, related party, net
11,337,470 27,888,091 
Total revenue for life insurance policies using the fair value method$61,575,973 $109,588,651 
Further disaggregation of life solutions revenue for the three and six months ended June 30, 2025:
Three Months Ended June 30,Six Months Ended June 30,
20252025
Life solutions:
Realized gains from life insurance policies sold and matured using the fair value method
$10,025,640 $22,689,625 
Premiums paid on sold and matured life insurance policies using the fair value method
(178,584)(608,584)
Premiums paid on life insurance policies held using the fair value method
(7,065,396)(14,873,756)
Unrealized gains from life insurance policies held using the fair value method26,840,281 55,348,517 
Revenue from life insurance policies using the fair value method, net
29,621,941 62,555,802 
Realized gains from life insurance policies sold and matured using the fair value method, related party
53,687,040 56,153,818 
Premiums paid on sold life insurance policies using the fair value method, related party
(1,536,451)(1,606,164)
Reversal of unrealized gains from prior quarters related to life insurance policies sold and matured using the fair value method, related party
(35,975,318)(37,471,037)
Revenue from life insurance policies using the fair value method, related party, net
16,175,271 17,076,617 
Total revenue for life insurance policies using the fair value method$45,797,212 $79,632,419 
Schedule of Asset Management Related Balances The Company has the following asset management related balances recorded within the following accounts in the consolidated balance sheets:
Balance Sheet AccountJune 30, 2026December 31, 2025
Management and Performance Fee Receivables:
Accounts receivable, related party$6,653,641 $6,718,903 
Management and performance fee receivable, related party15,187,416 14,800,140 
Total management and performance fee receivables$21,841,057 $21,519,043 
Retrocession Fee Payable:
Other current liabilities$5,403,741 $4,696,788 
Balance Sheet AccountJune 30, 2026December 31, 2025
Retrocession fees payable5,361,714 5,361,714 
Total retrocession fees payable$10,765,455 $10,058,502 
Schedule of Contract Liabilities The balances of contract liabilities arising from originated contracts with customers were as follows:
June 30, 2026December 31, 2025
Contract liabilities, deposits on pending settlements$647,043$169,184
Total contract liabilities$647,043$169,184