v3.26.1
Condensed Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 28,386,785 $ 7,652,203
Accounts receivable, net 614,801 728,001
Credit card receivable, net 2,753,588 0
Inventories 847,308 478,045
Digital assets - rewards treasury 4,504,290 6,872,869
Prepaid expenses and other current assets 1,913,981 2,384,684
Total current assets 39,020,753 18,115,802
Digital assets - investment treasury 11,356,023 133,658,791
Capitalized software development costs, net 1,986,251 1,393,752
Other non-current assets 131,770 299,309
Total assets 52,494,797 153,467,654
Current liabilities    
Accounts payable 698,556 704,789
Accrued expenses and other current liabilities 1,992,004 3,166,186
Accrued legal settlement 1,374,828 0
February 2026 note - related party, net 12,446,041 0
Credit facility 0 10,000,000
Customer rewards liability 4,504,290 6,872,869
Deferred revenue 228,148 366,252
Total current liabilities 21,243,867 21,110,096
June 2025 convertible note, net 0 21,469,675
March 2025 convertible note - related party 0 47,207,556
Other non-current liabilities 0 689,680
Total liabilities 21,243,867 90,477,007
Commitments and contingencies (Note 12)
Stockholders' equity    
Preferred stock, $0.0001 par value; 20,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2026 and 0 shares issued and outstanding at December 31, 2025 0 0
Common stock, $0.0001 par value; 600,000,000 shares authorized, 55,407,302 shares issued and 50,021,701 shares outstanding at June 30, 2026 and 48,477,883 shares issued and 48,419,266 shares outstanding at December 31, 2025 5,542 4,849
Additional paid-in-capital 241,003,835 233,924,782
Accumulated deficit (209,758,447) (170,938,984)
Total stockholders' equity 31,250,930 62,990,647
Total liabilities and stockholders' equity $ 52,494,797 $ 153,467,654