v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Dec. 03, 2025
Jun. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets              
Cash $ 0   $ 0        
Current Liabilities              
PIPE subscription derivative liability 137,942,000            
TOTAL LIABILITIES 138,062,603   659        
Commitments and Contingencies (Note 4)          
Stockholders' Deficit              
Additional paid-in capital 10   10        
Accumulated deficit (138,062,603)   (659)        
Total Stockholder's Deficit (138,062,603) $ (37,928) (659) $ 0      
HZO, Inc. and Subsidiaries              
Current assets              
Cash 2,435,870   4,572,687     $ 478,626  
Accounts receivable, net of allowance for credit losses of $0 and $5,447, respectively 1,405,336   802,626     836,382  
Inventories, net 924,321   931,317     602,729  
Prepaid expenses and other current assets 567,582   495,414     422,669  
Total current assets 5,333,109   6,802,044     2,340,406  
Property and equipment, net 2,749,051   3,827,230     6,640,655  
Operating right-of-use asset, net 2,335,019   2,675,083     3,390,744  
Non-marketable equity securities 15,000,000            
Other assets 423,676   423,676     423,676  
Intangible assets, net 969,693   1,177,485     1,593,067  
Goodwill 8,079,456   8,079,456     8,079,456 $ 18,293,572
TOTAL ASSETS 34,890,004   22,984,974     22,468,004  
Current Liabilities              
Accounts payable 1,035,475   781,939     980,154  
Accrued expenses and other current liabilities 1,527,468   704,547     1,516,387  
Deferred revenue 397,800   21,728     128,704 108,058
Current portion of operating lease liabilities 989,854   982,996     1,015,052  
Current portion of notes payable 22,590   21,923     16,349  
PIPE subscription derivative liability 50,881,000   3,396,000     1,052,000  
Convertible promissory notes, net of discount 15,255,360   2,057,348     2,911,018  
Warrant liability 2,066,673   51,673     57,984  
Total current liabilities 72,176,220   8,018,154     7,619,664  
Other liabilities 141,128   94,855     131,009  
Long-term operating lease liabilities, net of current portion 1,555,040   1,931,610     2,635,658  
Long-term notes payable, net of current portion 2,015,830   27,294     39,215  
TOTAL LIABILITIES 75,888,218   10,071,913     10,537,326  
Commitments and Contingencies (Note 4)        
Stockholders' Deficit              
Convertible preferred stock, $0.001 par value, 49,086,791,753 shares authorized; 28,014,564,020 shares issued and outstanding at June 30, 2026 and December 31, 2025 28,014,564   28,014,564     4,119,991  
Common stock, $0.001 par value, 33,588,600,000 shares authorized; 44,824,953 shares issued and outstanding at June 30, 2026 and December 31, 2025 44,825   44,825     56,439  
Additional paid-in capital 291,374,364   291,373,418     297,328,788  
Accumulated deficit (361,110,986)   (307,930,194)     (292,301,988)  
Other comprehensive income 679,019   1,410,448     2,727,448  
Total Stockholder's Deficit (40,998,214)   12,913,061   $ 19,686,088 11,930,678 $ 33,298,337
TOTAL LIABILITIES AND STOCKHOLDER'S DEFICIT $ 34,890,004   $ 22,984,974     $ 22,468,004