Summary of Significant Accounting Policies (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Goodwill |
Goodwill
consisted of the following:
Schedule
of Goodwill
| Balance - December 31, 2024 | |
$ | 3,300,000 | |
| Impairment charge - CLMI | |
| (2,500,000 | ) |
| Impairment charge - Torch | |
| (800,000 | ) |
| Balance - December 31, 2025 | |
$ | - | |
|
| Schedule of Note Receivables |
The
Note Receivable was as follows:
Schedule
of Note Receivables
| December 31, 2024 | |
| 176,851 | |
| Less: impairment loss | |
| (176,851 | ) |
| December 31, 2025 | |
$ | - | |
|
| Schedule of Cash and Restricted Cash Reported on the Consolidated Balance Sheets |
The
following table reconciles cash and restricted cash reported on the consolidated balance sheets to the total cash and restricted cash
presented on the consolidated statements of cash flows:
Schedule
of Cash and Restricted Cash Reported on the Consolidated Balance Sheets
| | |
June
30,
2026 | | |
December 31,
2025 | |
| Cash | |
$ | 1,954,235 | | |
$ | 1,731,400 | |
| Restricted cash | |
| 425,049 | | |
| 281,811 | |
| Total | |
$ | 2,379,284 | | |
$ | 2,013,211 | |
|
| Schedule of Accounts Receivables |
Accounts
receivable consisted of the following:
Schedule
of Accounts Receivables
| | |
June
30, 2026 | | |
December
31, 2025 | |
| | |
| | |
| |
| Accounts receivable - current | |
$ | 1,828,586 | | |
| 4,045,162 | |
| | |
| | | |
| | |
| Accounts receivable - under regulatory review
- face amount | |
| 3,613,561 | | |
| - | |
| Less: discount to present value | |
| (415,067 | ) | |
| - | |
| Add: accretion of discount
on accounts receivable | |
| 132,727 | | |
| - | |
| Accounts receivable -
non-current | |
| 3,331,221 | | |
| - | |
| | |
| | | |
| | |
| Total accounts receivable | |
$ | 5,159,807 | | |
$ | 4,045,162 | |
|
| Schedule of Disaggregation of Revenue from Contracts with Customers |
The
following represents the Company’s disaggregation of revenues for the six months ended June 30, 2026 and 2025:
Schedule
of Disaggregation of Revenue from Contracts with Customers
| | |
For
the Six Months Ended June 30, | |
| | |
2026 | | |
2025 | |
| Revenue | |
Revenue | | |
%
of Revenues | | |
Revenue | | |
%
of Revenues | |
| | |
| | | |
| | | |
| | | |
| | |
| Mobile Virtual Network Operators | |
$ | 3,390,758 | | |
| 10.53 | % | |
$ | 4,559,530 | | |
| 20.64 | % |
| Point-of-Sale and Prepaid
Services | |
$ | 28,798,046 | | |
| 89.47 | % | |
$ | 17,536,066 | | |
| 79.36 | % |
| Total Revenues | |
$ | 32,188,804 | | |
| 100.00 | % | |
$ | 22,095,596 | | |
| 100.00 | % |
|
| Schedule of Marketing and Advertising Costs |
The
Company recognized marketing and advertising costs during the three and six months ended June 30, 2026 and 2025, respectively, as follows:
Schedule
of Marketing and Advertising Costs
| For
the Three Months Ended June 30, | |
| 2026 | | |
2025 | |
| $ | 128,880 | | |
$ | 14,143 | |
| For
the Six Months Ended June 30, | |
| 2026 | | |
2025 | |
| $ | 158,803 | | |
$ | 37,623 | |
|
| Schedule of Diluted Net Income (Loss) Per Share |
The
following potentially dilutive equity securities were outstanding as of June 30, 2026 and 2025:
Schedule
of Diluted Net Income (Loss) Per Share
| | |
June
30, 2026 | | |
June
30, 2025 | |
| Convertible notes payable and related
accrued interest | |
| 9,868,485 | | |
| - | |
| Warrants | |
| 1,450,000 | | |
| 703,000 | |
| Stock options | |
| 1,868,468 | | |
| 1,166,081 | |
| Non-vested director shares | |
| 1,146,297 | | |
| 489,640 | |
| Total common stock equivalents | |
| 14,333,250 | | |
| 2,358,721 | |
|
| Schedule of Related Party Expenses |
During
the six months ended June 30, 2026 and 2025, respectively, the Company incurred expenses with a related party (annual rental agreement)
in the normal course of business as follows:
Schedule
of Related Party Expenses
| Related
Party | |
June
30, 2026 | | |
June
30, 2025 | |
| Carddawg Investments, Inc. | |
$ | 83,178 | | |
$ | 83,178 | 1 |
|