v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net loss $ (138,061,944)  
Financing activities:    
Net Change in Cash 0  
HZO, Inc. and Subsidiaries    
Operating activities:    
Net loss (53,180,792) $ (9,936,452)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,302,738 1,544,309
Change in right-of-use assets 340,064 386,627
Loss on extinguishment of debt   3,071,008
Amortization of debt discount 3,829,261 216,156
Stock-based compensation 946 3,160
Loss on disposal of fixed assets 194,556 290
Revaluation of convertible note derivative liabilities and warrant liability 43,425,000 135,000
Changes in operating assets and liabilities:    
Accounts receivable, net (602,710) (365,404)
Inventories, net 6,996 (271,311)
Prepaid expenses and other assets (72,168) (276,656)
Accounts payable 243,012 (424,209)
Accrued expenses and other liabilities 881,607 (152,257)
Deferred revenue 376,072 67,345
Operating right-of-use liabilities (369,712) (388,560)
Net cash used in operating activities (3,625,130) (6,390,954)
Investing activities:    
Purchases of property and equipment (72,820) (149,375)
Proceeds from sale of property and equipment 212 (290)
Purchase of non-marketable equity securities (13,000,000)  
Net cash used in investing activities (13,072,608) (149,665)
Financing activities:    
Payments on finance leases (26,874) (23,728)
Proceeds from notes payable   13,598
Repayments of notes payable (10,797) (9,466)
Proceeds from convertible promissory notes, net of issuance costs 15,443,751 1,000,000
Proceeds from issuance of preferred stock, net of issuance costs   9,371,736
Repurchases of equity securities   (1)
Net cash provided by financing activities 15,406,080 10,352,139
Effect of exchange rates on changes in cash (845,159) (75,064)
Net Change in Cash (2,136,817) 3,736,456
Cash at beginning of period 4,572,687 478,626
Cash at end of period 2,435,870 4,215,082
Supplemental disclosures of cash flow information:    
Cash paid for interest 10,552 10,369
Cash paid for taxes 72,858 77,131
Noncash investing and financing activities:    
Note payable exchanged for non-marketable equity securities 2,000,000  
Conversion of convertible promissory notes   4,942,618
Embedded derivative liability from convertible promissory notes $ 6,075,000 $ 289,000