Note 6 — Intangible Digital Assets

On August 28, 2025, the Company adopted Bitcoin as its primary treasury reserve asset. Under this new treasury strategy, the Company purchases and holds Bitcoin for long term investment purposes. The Company accounts for its Bitcoin as in indefinite-lived intangible asset in accordance with ASC 350, Intangibles-Goodill and Other and has ownership over its Bitcoin, which are included in intangible digital assets in the Unaudited Condensed Consolidated Balance Sheets. As of June 30, 2026, there were no contractual restrictions on the Company sale of its Bitcoin. In June 2026, we determined to discontinue our digital asset treasury strategy, which we originally adopted July 2025. We no longer intend to pursue a digital asset treasury strategy or hold digital assets as a treasury reserve asset, and as of June 30, 2026, we have disposed of all of our digital asset holdings.

Bitcoin Investment

The Company's Bitcoin purchased for investment purpose were initially recorded at cost, inclusive of transaction costs and fees. Subsequently, the Company remeasure its Bitcoin investment at fair value at the end of each reporting period with changes recognized in net income through other (expense) income, net on the Company's Condensed Consolidated Statements of Operations. As of June 30, 2026, the Company did not hold any Bitcoins or any other cryptocurrency.

The Company began cryptocurrency activities during the three months ended September 30, 2025. The Company sold all of its cryptocurrency during the three months ended June 30, 2026 for total proceeds of $2.9 million and recognized a loss of $35,000.