Note 5 – Fair Value Measurements

The Company measures certain assets and liabilities at fair value. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability (i.e., an ‘exit price’) in the principal or most advantageous market in an orderly transaction between market participants at the measurement date.

Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:

Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date.

Level 2 – Valuations based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Valuations based on inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability.

The Company’s digital assets measured at fair value, which include assets held in treasury and deployed in DeFi protocols are accounted for in accordance with ASC 350-60. The Company’s digital assets are valued using quoted prices in active markets for the underlying tokens, primarily on major digital-asset exchanges which represent Level 1 inputs within the fair-value hierarchy.

The following tables present the Company’s digital assets that are measured at fair value on a recurring basis and the Company’s estimated level within the fair value hierarchy of those assets as of June 30, 2026, and December 31, 2025.

Schedule of Estimated Level of Fair Value Hierarchy of Digital Assets on Recurring Basis