| SCHEDULE OF FINANCIAL INFORMATION |
The following table presents selected financial information
with respect to the Company’s single operating segment for the three and six months ended June 30, 2026 and 2025:
SCHEDULE OF FINANCIAL INFORMATION
| | |
June 30, 2026 | | |
June 30, 2025 | |
| | |
For the Three Months Ended | |
| | |
June 30, 2026 | | |
June 30, 2025 | |
| Operating expenses | |
| | | |
| | |
| General and administrative expenses | |
$ | 1,010,441 | | |
$ | 623,155 | |
| Professional fees | |
| 1,549,769 | | |
| 525,655 | |
| Total operating expenses | |
| 2,560,210 | | |
| 1,148,810 | |
| Operating loss | |
| (2,560,210 | ) | |
| (1,148,810 | ) |
| Operating margin | |
| -100 | % | |
| -100 | % |
| | |
| | | |
| | |
| Other income (expenses) | |
| | | |
| | |
| Patent infringement income | |
| - | | |
| 13,096 | |
| Change in derivative liability | |
| (110,632 | ) | |
| - | |
| Change in fair value of earnout shares liability | |
| - | | |
| 12,633 | |
| Interest income | |
| - | | |
| - | |
| Shareholder settlement expense | |
| - | | |
| - | |
| Change in fair value of warrants liability | |
| 924,201 | | |
| (581,842 | ) |
| Loss on settlement of debt | |
| - | | |
| (598,324 | ) |
| Interest expense | |
| (402,419 | ) | |
| (483,815 | ) |
| Total other income (expense) | |
| 411,150 | | |
| (1,638,252 | ) |
| Income tax expense | |
| - | | |
| - | |
| Net loss | |
$ | (2,149,060 | ) | |
$ | (2,787,062 | ) |
| | |
June 30, 2026 | | |
June 30, 2025 | |
| | |
For the Six Months Ended | |
| | |
June 30, 2026 | | |
June 30, 2025 | |
| Operating expenses | |
| | | |
| | |
| General and administrative expenses | |
$ | 2,007,446 | | |
$ | 1,690,225 | |
| Professional fees | |
| 4,359,910 | | |
| 817,786 | |
| Total operating expenses | |
| 6,367,356 | | |
| 2,508,011 | |
| Operating loss | |
| (6,367,356 | ) | |
| (2,508,011 | ) |
| Operating margin | |
| -100 | % | |
| -100 | % |
| | |
| | | |
| | |
| Other income (expenses) | |
| | | |
| | |
| Patent infringement income | |
| 325,000 | | |
| 13,096 | |
| Interest income | |
| - | | |
| 6 | |
| Change in derivative liability | |
| (110,632 | ) | |
| - | |
| Change in fair value of earnout shares liability | |
| - | | |
| 1,051,915 | |
| Change in fair value of warrants liability | |
| 1,133,130 | | |
| (347,647 | ) |
| Shareholder settlement expense | |
| (150,000 | ) | |
| - | |
| Loss on settlement of debt | |
| (6,929 | ) | |
| (598,324 | ) |
| Interest expense | |
| (993,104 | ) | |
| (706,178 | ) |
| Total other income (expense) | |
| 197,465 | | |
| (587,132 | ) |
| Income tax expense | |
| - | | |
| - | |
| Net loss | |
$ | (6,169,891 | ) | |
$ | (3,095,143 | ) |
|