v3.26.3
CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 492 $ 534
Restricted cash 252  
USDC 95 10,964
Accounts receivable, net 1,088 147
Notes receivable, current 1,800 0
Deposit on digital media investment 10,000 0
Contractual right to offset 0 13
Prepayments and other current assets 1,405 67
Total current assets 15,132 11,725
Investment in crypto assets 2,071 5,222
Investment in Ryvyl 0 6,500
Related party note receivable, net 4,167 4,208
Acquired and other intangible assets, net 10,882 825
Goodwill 11,116 0
Operating lease right-of-use assets, net 101 0
Other assets 595 34
Total assets 44,064 28,514
Current liabilities:    
Accounts payable 5,090 1,751
Accrued expenses 5,165 40
Current portion of operating lease liabilities 723 0
Unearned revenue 46 109
Other current liabilities 13 13
Total current liabilities 11,037 1,913
Operating lease liabilities, less current portion 1,190 0
March 2026 convertible note and warrants – price protection feature 902 0
Long term debt, net 607 0
Total liabilities 13,736 1,913
Stockholders’ equity (deficit):    
Common stock, par value $0.001, 500,000,000 shares authorized; 13,301,694 and 4,165,106 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 14 4
Additional paid-in capital 58,462 40,383
Accumulated deficit (28,148) (13,786)
Total stockholders’ equity 30,328 26,601
Total liabilities and stockholders’ equity $ 44,064 $ 28,514