Condensed Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Revenues, net | $ 6,089,909 | $ 8,175,926 | $ 11,682,218 | $ 15,263,763 |
| Operating expenses | ||||
| Banking and payments costs | 5,108,245 | 7,682,621 | 9,914,619 | 14,441,545 |
| Custody and trading costs | 739,039 | 142,811 | 1,337,454 | 188,596 |
| Compensation and benefits | 3,790,067 | 3,676,657 | 7,824,334 | 10,134,597 |
| Marketing expenses | 728,338 | 620,923 | 996,446 | 1,020,721 |
| Professional fees | 1,255,832 | 1,270,345 | 2,923,246 | 3,058,850 |
| Amortization expense | 173,985 | 106,837 | 330,064 | 197,908 |
| (Gain) loss on customer rewards liability | (745,598) | 2,071,505 | (2,253,069) | 970,648 |
| (Gain) loss on digital assets - rewards treasury | (1,119,388) | 2,334,677 | (2,808,843) | 1,324,091 |
| Other selling, general and administrative expenses | 1,689,247 | 1,264,422 | 3,399,228 | 2,400,876 |
| Total operating expenses | 13,858,543 | 14,501,444 | 27,281,165 | 31,089,650 |
| Operating loss | (7,768,634) | (6,325,518) | (15,598,947) | (15,825,887) |
| Gain (loss) on digital assets - investment treasury | 105,167 | 36,582,224 | (28,524,298) | 20,965,072 |
| Change in fair value of SAFEs | 0 | 0 | 0 | (6,503,113) |
| Change in fair value of convertible note | 0 | (5,309,608) | 13,200,089 | (11,843,751) |
| Convertible note issuance costs and fees | 0 | 0 | 0 | (9,569,109) |
| Legal settlements | (1,374,828) | 0 | (1,374,828) | 0 |
| Loss on extinguishment of debt | 0 | (9,612,199) | (4,005,132) | (9,612,199) |
| Interest expense | (921,881) | (1,974,849) | (3,195,709) | (3,246,487) |
| Other income | 308,619 | 66,398 | 682,833 | 186,701 |
| Other income (expense), net | (1,882,923) | 19,751,966 | (23,217,045) | (19,622,886) |
| Net income (loss) before income taxes | (9,651,557) | 13,426,448 | (38,815,992) | (35,448,773) |
| Income tax expense (benefit) | 0 | 881 | 3,471 | 4,859 |
| Net income (loss) | $ (9,651,557) | $ 13,425,567 | $ (38,819,463) | $ (35,453,632) |
| Basic | (9,651,557) | 13,425,567 | (38,819,463) | (35,453,632) |
| Diluted | (9,651,557) | 13,425,567 | (38,819,463) | (35,453,632) |
| Net income (loss) attributable to common stockholders: | ||||
| Basic | $ (0.19) | $ 0.29 | $ (0.76) | $ (0.98) |
| Diluted | $ (0.19) | $ 0.28 | $ (0.76) | $ (0.98) |
| Weighted-average shares used to compute net income (loss) per share: | ||||
| Basic | 51,825,321 | 46,503,358 | 50,746,857 | 36,062,784 |
| Diluted | 51,825,321 | 47,561,116 | 50,746,857 | 36,062,784 |
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- Definition Amortization expense. No definition available.
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- Definition Banking and payment costs. No definition available.
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- Definition Change in fair value of convertible note. No definition available.
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- Definition Change in fair value of simple agreement for future equities. No definition available.
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- Definition Compensation and benefits. No definition available.
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- Definition Convertible note issuance costs and fees. No definition available.
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- Definition Custody and trading costs. No definition available.
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- Definition Gain loss on customer rewards liability. No definition available.
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- Definition Gain loss on digital assets investment treasury. No definition available.
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- Definition Gain loss on digital assets rewards treasury. No definition available.
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- Definition Net income (loss) available to common stockholders, basic and diluted No definition available.
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- Definition Net income (loss) per share attributable to common stockholders, basic. No definition available.
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- Definition Net income (loss) per share attributable to common stockholders, diluted. No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expense provided in the period for legal costs incurred on or before the balance sheet date pertaining to resolved, pending or threatened litigation, including arbitration and mediation proceedings. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Expenditures for planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. Costs of public relations and corporate promotions are typically considered to be marketing costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of selling, general and administrative expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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