v3.26.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (55,232,982) $ (3,064,590)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation - Option grants 219,376 192,053
Common stock issued to executive officers 1,700,000
Advisory shares committed for issuance 8,113,318
Depreciation and amortization expense 40,324 232
Change in fair value of warrant liability (9,518)
Change in fair value of derivative liability (264,272)
Non-cash interest 1,212,398 21,253
Accretion on convertible notes 2,710,762 39,832
Unrealized gain from changes in fair value of digital assets 35,257,529
Realized gain and trading gains on digital assets (2,004,495)
Digital assets received as yield income (282,732)
Proceeds from sales of digital assets, net of purchases 177,901
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 22,623 (1,788,619)
Accounts payable and accrued expenses 2,302,994 (472,052)
Operating lease liability (7,636)
Net cash used in operating activities (7,734,893) (3,381,409)
Cash flows from investing activities:    
Redemption of short term investments 2,000,000
Purchases of property, plant and equipment (9,394) (13,369)
Net cash provided by (used in) investing activities 1,990,606 (13,369)
Cash flows from financing activities:    
Proceeds from initial public offering, net of issuance costs 11,629,727
Proceeds from notes payable, net of original issue discount 5,970,000 573,319
Payment of debt issuance costs (585,000)
Repayment of notes payable (1,000,000)
Cash advances from related parties (76,400)
Proceeds from subscription receivable on subsidiary shares 1,002
Net cash provided by financing activities 4,386,002 12,126,646
Net change in cash and cash equivalents (1,358,284) 8,731,868
Cash, cash equivalents, and restricted cash, beginning of period 9,636,655 3,455
Cash, cash equivalents and restricted cash, end of period 8,278,371 8,735,323
Supplemental disclosure of cash flow information:    
Cash paid for interest 160,000
Cash paid for taxes
Non-cash investing and financing activities:    
Conversion of related-party convertible notes and accrued interest into common stock 499,222
Issuance of representative warrants in connection with IPO 139,388
Debt issuance costs accrued in connection with notes payable 865,000
Common stock issued in settlement of shares committed for issuance 4,476,805
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 278,371 8,735,323
Restricted cash 8,000,000
Total cash, cash equivalents, and restricted cash $ 8,278,371 $ 8,735,323