v3.26.3
Condensed Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Dec. 31, 2024
Current assets      
Cash and cash equivalents $ 28,386,785 $ 7,652,203 $ 18,330,359
Accounts receivable, net 614,801 728,001 451,455
Credit card receivable, net 2,753,588  
Inventories 847,308 478,045 262,813
Digital assets – rewards treasury 4,504,290 6,872,869 8,569,651
Prepaid expenses and other current assets 1,913,981 2,384,684 687,100
Total current assets 39,020,753 18,115,802 28,301,378
Digital assets – investment treasury 11,356,023 133,658,791 93,568,700
Capitalized software development costs, net 1,986,251 1,393,752 1,000,065
Deferred transaction costs   2,784,893
Other non-current assets 131,770 299,309
Total assets 52,494,797 153,467,654 125,655,036
Current liabilities      
Accounts payable 698,556 704,789 1,113,552
Accrued expenses and other current liabilities 1,992,004 3,166,186 71,858
Accrued legal settlement 1,374,828  
February 2026 note – related party, net 12,446,041  
December 2024 convertible note, net   11,752,905
Credit facility 10,000,000
Customer rewards liability 4,504,290 6,872,869 8,569,651
Deferred revenue 228,148 366,252 387,776
Total current liabilities 21,243,867 21,110,096 21,895,742
Deferred revenue, long-term   487,690
June 2025 convertible note, net 21,469,675
March 2025 convertible note – related party 47,207,556
Simple Agreements for Future Equity (“SAFEs”)   171,080,533
Other non-current liabilities 689,680
Total liabilities 21,243,867 90,477,007 193,463,965
Commitments and contingencies (Note 12)
Stockholders’ equity (deficit)      
Preferred stock, value 1,020
Common stock, value 5,542 4,849 584
Additional paid-in-capital 241,003,835 233,924,782 33,537,989
Accumulated deficit (209,758,447) (170,938,984) (101,348,522)
Total stockholders’ equity 31,250,930 62,990,647 (67,808,929)
Total liabilities and stockholders’ equity $ 52,494,797 $ 153,467,654 $ 125,655,036