Related Party Transactions |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions | Note 12 — Related Party Transactions
The Company has the following related party balances and transactions:
During the three and six months ended June 30, 2026, the Company recognized $0 of interest expense on related party debt. Related party balances arise principally from pre-acquisition balances of Flash and IPG and are non-interest-bearing.
In connection with the acquisition, the Company also assumed a non-interest-bearing unsecured loan payable to Mr. Anil Mohan Sankhdhar, former chairman and principal shareholder of IPG. The loan carries no stated interest rate and has no fixed repayment terms within the next twelve months. The loan was recorded at fair value on the acquisition date using a market rate of interest, with the resulting discount recognized as part of the purchase price allocation. The unamortized discount is accreted to interest expense over the expected repayment period using the effective interest method.
In connection with the IPG MIPA, IPG operates as a member of the Sankhdhar family of companies. The Company has identified the following related party transactions involving IPG affiliates: production fees and revenue sharing arrangements with related entities operating in cricket leagues in Sri Lanka, Malaysia, Singapore, and Zimbabwe. The Company is in the process of evaluating these arrangements for related party disclosure purposes. |
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