v3.26.1
Unaudited Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 278,371 $ 1,636,655
Restricted cash 8,000,000 8,000,000
Short term investments 2,000,000
Prepaid expenses 2,235,996 2,298,704
Other current assets 48,501 48,500
Total current assets 10,678,438 13,983,859
Digital assets, at fair value 116,737,168 149,885,371
Long-term portion of prepaid expenses 75,485
Operating lease right of use asset, net 156,162 187,395
Property and equipment, net 51,929 51,626
Total assets 127,623,697 164,183,736
Current liabilities:    
Accounts payable and accrued expenses 3,221,643 918,649
Accrued offering costs 780,000 500,000
Accrued interest 1,200,000
Advance payable to related party 12,000 12,000
Notes payable - related party 500,100 500,100
Notes payable, net 5,000,000
Derivative liability 1,352,641 1,616,913
Convertible notes, net 8,907,026 7,091,263
Operating lease liability 59,523 39,578
Total current liabilities 21,073,283 10,706,455
Long-term liabilities    
Long-term portion of operating lease liability 101,873 129,454
Total liabilities 21,175,156 10,835,909
Commitments and contingencies (note 8)
Shareholders’ equity:    
Preferred stock, par value $0.001, 10,000,000 shares authorized; 747,702 shares issued and outstanding as of June 30, 2026 and December 31, 2025 748 748
Common stock, par value $0.001, 100,000,000 shares authorized; 1,509,118 and 1,257,598 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 1,509 1,258
Common Shares to be issued 3,636,262
Additional paid-in capital 168,436,065 163,738,882
Accumulated deficit (65,626,043) (10,393,061)
Total shareholders’ equity (deficit) 106,448,541 153,347,827
Total liabilities and shareholders’ equity 127,623,697 164,183,736
Related Party    
Current assets:    
Due from related parties 115,570
Current liabilities:    
Accrued interest — related party $ 40,350 $ 27,952