v3.26.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 2 Months Ended 3 Months Ended 11 Months Ended
Jun. 06, 2025
Jul. 31, 2025
Jun. 30, 2025
Jul. 31, 2026
Apr. 30, 2026
Cash flows from operating activities          
Net income (loss) $ 19 $ (1,186)   $ (11,400)  
Adjustments to reconcile net income (loss) to net cash used in operating activities          
Depreciation and amortization   124   158  
Equity-based compensation   7   67  
Non-cash income from airdrops   0   (284)  
Unrealized loss on digital assets   0   15,294  
Change in fair value of warrant liabilities   0   (9,982)  
Other, net   (74)   240  
Changes in operating assets and liabilities:          
Accounts receivable   (8)   (96)  
Income taxes payable   (60)   153  
Inventory   286   96  
Prepaid expenses   1,118   (1,057)  
Accounts payable and accrued liabilities   (1,972)   (275)  
Lease liabilities   0   (31)  
Deferred revenue   (33)   76  
Royalty   0   0  
Related party liabilities   0   1,104  
Cash Incentive Award       (538) $ 0
Net cash used in operating activities   (1,798)   (6,475)  
Cash flows from investing activities          
Cash paid for acquisition of Fat Panda   (10,571)   0  
Purchases of property and equipment   0   (123)  
Net cash used in investing activities   (10,571)   (123)  
Cash flows from financing activities          
Proceeds from notes payable   3,910   14,963  
Repurchase of shares   0   (4,279)  
Net cash provided by financing activities   3,910   10,684  
Net increase (decrease) in cash and cash equivalents   (8,459)   4,086  
Effect of exchange rate changes on cash and cash equivalents   32   (63)  
Cash and cash equivalents, beginning of period   11,447   3,061 11,447
Cash and cash equivalents, end of period 11,447 3,020   7,084 3,061
Supplemental cash flow information          
Cash paid for interest   0   211  
Cash paid for income taxes   0   0  
Non-cash Investing and Financing Activities:          
Issuance of common stock to acquire Fat Panda   (314)   0  
CRA indemnity note   365   0  
Issuance of related party notes for Fat Panda acquisition   1,394   $ 0  
Predecessor          
Cash flows from operating activities          
Net income (loss) 19        
Adjustments to reconcile net income (loss) to net cash used in operating activities          
Depreciation and amortization 13        
Equity-based compensation 0        
Non-cash income from airdrops 0        
Unrealized loss on digital assets 0        
Change in fair value of warrant liabilities 0        
Other, net 0        
Changes in operating assets and liabilities:          
Accounts receivable 53        
Income taxes payable 2        
Inventory (363)        
Prepaid expenses 7        
Accounts payable and accrued liabilities 35        
Lease liabilities 0        
Deferred revenue 0        
Royalty (5)        
Related party liabilities 0        
Cash Incentive Award     $ 0    
Net cash used in operating activities (239)        
Cash flows from investing activities          
Cash paid for acquisition of Fat Panda 0        
Purchases of property and equipment 0        
Net cash used in investing activities 0        
Cash flows from financing activities          
Proceeds from notes payable 0        
Repurchase of shares 0        
Net cash provided by financing activities 0        
Net increase (decrease) in cash and cash equivalents (239)        
Effect of exchange rate changes on cash and cash equivalents 14        
Cash and cash equivalents, beginning of period 2,149 $ 1,924 $ 2,149   $ 1,924
Cash and cash equivalents, end of period 1,924        
Supplemental cash flow information          
Cash paid for interest 0        
Cash paid for income taxes 0        
Non-cash Investing and Financing Activities:          
Issuance of common stock to acquire Fat Panda 0        
CRA indemnity note 0        
Issuance of related party notes for Fat Panda acquisition $ 0