v3.26.1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2026
Basis of Presentation and Summary of Significant Accounting Policies [Abstract]  
Schedule of Digital Assets

The Company’s digital assets consisted of the following:

 

    Units held
6/30/2026		     Fair value
6/30/2026		     Units held
12/31/2025		     Fair value
12/31/2025		  
Bitcoin     1,004.84     $ 58,698,533       1,000.00     $ 88,318,950  
NILA tokens     639,099,449.88       49,983,968       678,013,859       55,075,066  
Tether (USDT)     8,048,297.29       8,048,297       6,484,632.05       6,484,632  
Other exchange wallet balances     —       6,370       —       6,723  
Total digital assets, at fair value           $ 116,737,168             $ 149,885,371  
Schedule of Activity in Digital Assets Activity in digital assets for the six months ended June 30, 2026 was as follows:
    Six months
ended
June 30,
2026		  
Balance at December 31, 2025   $ 149,885,371  
Additions — digital assets received as consideration for sales     1,563,665  
Dispositions — carrying amount of digital assets disposed of     (1,741,566 )
Realized gain on sale of digital assets     1,719,477  
Trading gains, net     285,018  
Digital assets received as yield income     282,732  
Unrealized loss from changes in fair value     (35,257,529 )
Balance at June 30, 2026   $ 116,737,168  
Schedule of Gains and Losses on Digital Assets Gains and losses on digital assets recognized in the condensed consolidated statements of operations were as follows:

 

    Three months
ended
June 30,
2026		     Six months
ended
June 30,
2026		  
Unrealized loss from changes in fair value of digital assets   $ (13,178,928 )   $ (35,257,529 )
Realized gain on sale of digital assets     1,704,378       1,719,477  
Trading gains, net     282,989       285,018  
Digital asset yield income     282,732       282,732  
Net loss recognized on digital assets   $ (10,908,829 )   $ (32,970,302 )
Schedule of Financial Assets and Liabilities

Assets and liabilities measured at fair value on a recurring basis were as follows:

 

June 30, 2026   Level 1     Level 2     Level 3     Total  
Bitcoin   $ 58,698,533       —       —     $ 58,698,533  
NILA tokens     —       49,983,968       —       49,983,968  
Tether (USDT)     8,048,297       —       —       8,048,297  
Other exchange wallet balances     6,370       —       —       6,370  
Total assets at fair value     66,753,200       49,983,968       —       116,737,168  
                                 
Derivative liability — embedded conversion feature     —       —       1,352,641       1,352,641  
Total liabilities at fair value     —       —     $ 1,352,641     $ 1,352,641  

 

December 31, 2025   Level 1     Level 2     Level 3     Total  
Bitcoin   $ 88,318,950       —       —     $ 88,318,950  
NILA tokens     —       55,075,066       —       55,075,066  
Tether (USDT)     6,484,632       —       —       6,484,632  
Other exchange wallet balances     6,723       —       —       6,723  
Total assets at fair value     94,810,305       55,075,066       —       149,885,371  
                                 
Derivative liability — embedded conversion feature     —       —       1,616,913       1,616,913  
Total liabilities at fair value     —       —     $ 1,616,913     $ 1,616,913  
Schedule of Derivative Liability

The following table presents the changes in the Level 3 derivative liability:

 

    Derivative
liability		  
Balance at December 31, 2025   $ 1,616,913  
Change in fair value — three months ended March 31, 2026     (48,279 )
Balance at March 31, 2026     1,568,634  
Change in fair value — three months ended June 30, 2026     (215,993 )
Balance at June 30, 2026   $ 1,352,641  
Schedule of Segment Information

Three months ended June 30, 2026:

 

    BioBusiness     Digital Asset     Corporate     Consolidated  
Research and development   $ 959,742       —       —     $ 959,742  
General and administrative     4,000,742       1,153,443       164,833       5,319,018  
Total operating expenses     4,960,484       1,153,443       164,833       6,278,760  
Loss from operations     (4,960,484 )     (1,153,443 )     (164,833 )     (6,278,760 )
Unrealized loss from changes in fair value of digital assets     —       (13,178,928 )     —       (13,178,928 )
Realized gain on sale of digital assets     —       1,704,378       —       1,704,378  
Trading gains, net     —       282,989       —       282,989  
Digital asset yield income     —       282,732       —       282,732  
Foreign currency gains, net     —       458       —       458  
Change in fair value of derivative liability     —       —       215,993       215,993  
Interest income     21,757       —       7       21,764  
Interest expense     (2,259,011 )     —       (964,744 )     (3,223,755 )
Net loss   $ (7,197,738 )   $ (12,061,814 )   $ (913,577 )   $ (20,173,129 )

Six months ended June 30, 2026:

 

    BioBusiness     Digital Asset     Corporate     Consolidated  
Research and development   $ 1,860,886       —       —     $ 1,860,886  
General and administrative     5,378,816       2,814,364       8,410,388       16,603,568  
Total operating expenses     7,239,702       2,814,364       8,410,388       18,464,454  
Loss from operations     (7,239,702 )     (2,814,364 )     (8,410,388 )     (18,464,454 )
Unrealized loss from changes in fair value of digital assets     —       (35,257,529 )     —       (35,257,529 )
Realized gain on sale of digital assets     —       1,719,477       —       1,719,477  
Trading gains, net     —       285,018       —       285,018  
Digital asset yield income     —       282,732       —       282,732  
Foreign currency losses, net     —       (1,109 )     —       (1,109 )
Change in fair value of derivative liability     —       —       264,272       264,272  
Interest income     21,757       —       14       21,771  
Interest expense     (2,261,232 )     —       (1,821,928 )     (4,083,160 )
Net loss   $ (9,479,177 )   $ (35,785,775 )   $ (9,968,030 )   $ (55,232,982 )
Schedule of Total Assets by Segment

Total assets by segment: Total assets by segment as of December 31, 2025 were $6,105,264 for the BioBusiness segment, $150,029,972 for the Digital Asset segment and $8,048,500 for Corporate, or $164,183,736 in total.

 

    June 30,
2026		  
BioBusiness   $ 2,497,274  
Digital Asset     117,075,940  
Corporate     9,769,393  
Total assets   $ 127,623,697  
Schedule of Property and Equipment, Net
    June 30,
2026		     December 31,
2025		  
Computer equipment   $ 56,907     $ 47,513  
Furniture and fixtures     9,820       9,820  
Property and equipment, at cost     66,727       57,333  
Less: accumulated depreciation     (14,798 )     (5,707 )
Property and equipment, net   $ 51,929     $ 51,626  
Schedule of Diluted Net Loss Per Share

The following potentially dilutive securities were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive:

 

    June 30,
2026		     June 30,
2025		  
Shares issuable upon conversion of Series A convertible preferred stock     14,954,040       —  
Stock options outstanding     131,037       109,668  
Warrants outstanding     111,691       16,875  
Common shares committed but not yet issued     204,284       —  
Total     15,401,052       126,543