| Segment Reporting [Text Block] |
NOTE 14 – SEGMENT INFORMATION
The Company has determined its operating segments in accordance with ASC 280, Segment Reporting. Factors used to determine the Company’s reportable segments include the availability of separate financial statements, the existence of separate leadership across business lines, the economic factors affecting each segment, and the evaluation of operating results at the segment level. The Company’s Chief Operating Decision Maker (“CODM”), its chief executive officer, allocates the Company’s resources for each of the operating segments and evaluates their relative performance based on losses from operations, operating loss, and net loss. Operating expenses are disaggregated by department for purposes of evaluating each segment’s performance. Each operating segment listed below has separate financial statements and locally based leadership that are evaluated based on the results of their respective segments. It should be noted that the operating segments below have different products and services.
The Company has two reportable segments, which have been delineated by business area:
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●
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Compute Services and Treasury Management segment: provides services that include access to GPU compute capacity and manages the Company’s ATH treasury strategy.
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Drug Discovery Services segment: provides services that include the application of AI using its proprietary biobank of 150,000+ tumor samples, as well as creation of proprietary 3D culture models used in drug development.
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As described in Note 3 – Discontinued Operations, the Company’s former Eagan operating segment met the criteria to be reported as discontinued operations for the first quarter of 2025. As such, the former Eagan operating segment is excluded from the tables below, which only reflect continuing operations for all periods presented.
See discussion of revenue recognition in Note 2 – Summary of Significant Accounting Policies for a description of the products and services recognized in each segment. All revenues are earned from external customers.
The table below summarizes the Company’s segment reporting as of the six months ended June 30, 2026, and the year ended December 31, 2025:
| Compute Services and Treasury Management segment |
|
June 30,
2026
|
|
|
December 31,
2025
|
|
|
Assets
|
|
$ |
96,017,868 |
|
|
$ |
49,455,174 |
|
|
Depreciation and amortization
|
|
|
- |
|
|
|
- |
|
|
Expenditures for additions to long-lived assets
|
|
|
(17,100,106 |
) |
|
|
- |
|
| |
|
|
|
|
|
|
|
|
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Drug Discovery Services segment
|
|
|
|
|
|
|
|
|
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Assets
|
|
$ |
1,634,178 |
|
|
$ |
1,930,898 |
|
|
Depreciation and amortization
|
|
|
51,425 |
|
|
|
121,261 |
|
|
Expenditures for additions to long-lived assets
|
|
|
(21,000 |
) |
|
|
- |
|
| |
|
|
|
|
|
|
|
|
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Corporate
|
|
|
|
|
|
|
|
|
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Assets
|
|
$ |
2,723,910 |
|
|
$ |
1,502,274 |
|
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Depreciation and amortization
|
|
|
3,225 |
|
|
|
7,777 |
|
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Expenditures for additions to long-lived assets
|
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
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Total
|
|
|
|
|
|
|
|
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Assets
|
|
$ |
100,375,956 |
|
|
$ |
52,888,346 |
|
|
Depreciation and amortization
|
|
|
54,650 |
|
|
|
129,038 |
|
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Expenditures for additions to long-lived assets
|
|
|
(17,121,106 |
) |
|
|
- |
|
The table below provides a reconciliation of segment revenue and loss for the three and six months ended June 30, 2026 and 2025:
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|
Three Months Ended
June 30,
|
|
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Six Months Ended
June 30,
|
|
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2026
|
|
|
2025
|
|
|
2026
|
|
|
2025
|
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Compute Services and Treasury Management segment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Revenue
|
|
$ |
3,207,345 |
|
|
$ |
- |
|
|
$ |
3,214,280 |
|
|
$ |
- |
|
|
Gains and (losses) from operations
|
|
|
(13,125,352 |
) |
|
|
- |
|
|
|
(17,421,620 |
) |
|
|
- |
|
|
Cost of operations (a)
|
|
|
4,098,199 |
|
|
|
- |
|
|
|
4,289,848 |
|
|
|
- |
|
|
Total operating (loss)
|
|
|
(14,016,206 |
) |
|
|
- |
|
|
|
(18,497,187 |
) |
|
|
- |
|
|
Segment (loss)
|
|
|
(14,016,206 |
) |
|
|
- |
|
|
|
(18,497,187 |
) |
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Drug Discovery Services segment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Revenue
|
|
|
7,647 |
|
|
|
2,682 |
|
|
|
36,023 |
|
|
|
112,992 |
|
|
Gains and (losses) from operations
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Cost of operations (a)
|
|
|
930,704 |
|
|
|
899,077 |
|
|
|
1,944,940 |
|
|
|
1,876,810 |
|
|
Total operating (loss)
|
|
|
(923,057 |
) |
|
|
(896,395 |
) |
|
|
(1,908,917 |
) |
|
|
(1,763,818 |
) |
|
Segment (loss)
|
|
|
(923,057 |
) |
|
|
(896,395 |
) |
|
|
(1,908,917 |
) |
|
|
(1,763,818 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Corporate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Revenue
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Gains and (losses) from operations
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Cost of operations (a) (b)
|
|
|
2,388,747 |
|
|
|
1,763,473 |
|
|
|
4,650,586 |
|
|
|
3,183,097 |
|
|
Total operating (loss)
|
|
|
(2,388,747 |
) |
|
|
(1,763,473 |
) |
|
|
(4,650,586 |
) |
|
|
(3,183,097 |
) |
|
Segment (loss)
|
|
|
(2,388,747 |
) |
|
|
(1,763,473 |
) |
|
|
(4,650,586 |
) |
|
|
(3,183,097 |
) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Total
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
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Revenue
|
|
|
3,214,992 |
|
|
|
2,682 |
|
|
|
3,250,303 |
|
|
|
112,992 |
|
|
Gains and (losses) from operations
|
|
|
(13,125,352 |
) |
|
|
- |
|
|
|
(17,421,620 |
) |
|
|
- |
|
|
Cost of operations (a)
|
|
|
7,417,650 |
|
|
|
2,662,550 |
|
|
|
10,885,374 |
|
|
|
5,059,907 |
|
|
Total operating (loss)
|
|
|
(17,328,010 |
) |
|
|
(2,659,868 |
) |
|
|
(25,056,691 |
) |
|
|
(4,946,915 |
) |
|
Other segment items
|
|
|
122,128 |
|
|
|
589,406 |
|
|
|
141,866 |
|
|
|
433,580 |
|
|
Net (loss)
|
|
|
(17,205,882 |
) |
|
|
(2,070,462 |
) |
|
|
(24,914,825 |
) |
|
|
(4,513,335 |
) |
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(a)
|
Segment cost of operations includes cost of revenues, general and administrative expenses, research and development expenses, and sales and marketing expenses.
|
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(b)
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Corporate expenses include general and administrative costs, stock-based compensation, and other items not allocated to the segments.
|
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