| Schedule of mezzanine equity roll forward |
|
|
|
|
|
|
|
| |
|
Six Months Ended
June 30,
2026 |
|
Twelve Months Ended
December 31,
2025 |
| Beginning balance |
|
$ |
4,186,991 |
|
|
$ |
– |
|
| Issuances at proceeds/accrued value |
|
|
83,325 |
|
|
|
17,678,904 |
|
| Embedded derivative bifurcation at issuance |
|
|
(39,783 |
) |
|
|
(4,764,474 |
) |
| Preferred return accrual (deemed dividend) |
|
|
135,347 |
|
|
|
428,846 |
|
| OID accretion (deemed dividend) |
|
|
261,422 |
|
|
|
1,888,089 |
|
| Conversions to Class A common stock |
|
|
(311,080 |
) |
|
|
(11,044,374 |
) |
| Derecognition of Derivative Liability |
|
|
1,091,934 |
|
|
|
– |
|
| Conversion to Note Payable |
|
|
(1,299,870 |
) |
|
|
– |
|
| Reclassification to permanent equity |
|
|
(4,108,286 |
) |
|
|
– |
|
| Ending balance |
|
$ |
– |
|
|
$ |
4,186,991 |
|
| |
|
|
|
|
|
|
|
|
| Shares outstanding at period end |
|
|
– |
|
|
|
5,166 |
|
| Carrying value per share |
|
$ |
– |
|
|
$ |
810.49 |
|