v3.26.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities        
Net loss $ (38,819,463) $ (35,453,632) $ (69,590,462) $ (65,088,786)
Adjustments to reconcile net loss to net cash used in operating activities:        
Amortization expense 330,064 197,908 557,982 292,266
Loss (gain) on digital assets – rewards treasury 2,808,843 (1,324,091) 394,271 (5,633,042)
Loss (gain) on digital assets – investment treasury 28,524,298 (20,965,072) 9,238,234 (29,247,576)
(Gain) loss on customer rewards liability (2,253,069) 970,648 (798,493) 5,219,775
Change in fair value of convertible note (13,200,089) 11,843,751 928,056
Convertible note issuance costs and fees 9,569,109 9,569,109
Loss on extinguishment of debt 4,005,132 9,612,199 9,612,199
Amortization of debt issuance costs 6,638 112,187 236,305
Amortization of debt discount and premium 179,929 953,404 480,357 187,368
Change in fair value of SAFEs 6,503,113 7,197,168 88,372,854
Share-based compensation expense 3,353,459 6,895,480 9,969,112
Other non-cash adjustments (551,717)    
Increase (decrease) in cash resulting from changes in:        
Accounts receivable, net 113,200 (246,105) (276,546) 173,448
Credit card receivable, net (2,753,588)    
Inventories (369,263) (67,489) (215,232) (133,619)
Prepaid expenses and other current assets 270,655 (603,030) 656,823 (176,949)
Accounts payable (6,233) 195,286 (408,763) 753,335
Accrued expenses and other current liabilities 1,017,227 1,376,866 3,764,649 137,482
Accrued legal settlement 1,374,828    
Customer rewards liability 753,528 1,318,429 2,385,070 1,965,037
Deferred revenue (138,104) (133,156) (509,214) (136,544)
Other non-current liabilities (689,680) 293,114 689,680
Net cash used in operating activities (16,043,405) (8,951,081) (16,119,695) (3,314,951)
Cash flows from investing activities        
Purchases of digital assets (1,748,759) (2,374,030) (8,015,269) (1,880,563)
Proceeds from sales of digital assets 59,120,684 104,868
Payments for capitalized software development costs (740,184) (434,820) (951,669) (738,565)
Net cash provided by (used in) investing activities 56,631,741 (2,808,850) (8,966,938) (2,514,260)
Cash flows from financing activities        
Proceeds from issuance of convertible note and warrants, net     18,925,000
Proceeds from issuance of note 13,000,000    
Repayment of convertible note (25,166,667)    
Proceeds from recapitalization 804,624 804,600
Payments of deferred IPO costs (652,013) (652,013)
Proceeds received from SAFE financings     8,000,000
Payment of debt issuance costs (113,320) (113,320) (2,610,099)
Proceeds from issuance of common stock 3,262,213 4,369,210 (1,646,875)
Proceeds from credit facility 10,000,000 10,000,000
Repayment of credit facility (20,000,000)    
Common stock withheld for employee tax obligations (949,300)    
Net cash provided by (used in) financing activities (19,853,754) 39,291 14,408,477 22,668,026
Net increase (decrease) in cash and cash equivalents 20,734,582 (11,720,640) (10,678,156) 16,838,815
Cash and cash equivalents, beginning of period 7,652,203 18,330,359 18,330,359 1,491,544
Cash and cash equivalents, end of period 28,386,785 6,609,719 7,652,203 18,330,359
Non-cash investing and financing activities        
Proceeds from SAFE financings received in digital assets     64,106,134
Deferred IPO costs included in accounts payable     174,794
Non-cash payment of interest with common stock 613,334 646,667 1,860,011
Distributions of digital assets to fulfill customer reward redemptions 869,038 1,489,430 3,283,359 3,948,545
Distributions of digital assets to satisfy other current obligations 1,089,777 46,955 671,621 91,566
Non-cash payment for intellectual property acquisition with common stock 182,379      
Non-cash repayment of convertible note via transfer of digital assets – related party 34,007,466      
Recapitalization 173,019,904 173,019,904
Proceeds from convertible debt received in digital assets – related party 43,965,525 43,965,525
Change in fair value of Series C Warrants included in loss on extinguishment   498,771 498,771
Non-cash issuance of placement shares     353,250  
Non-cash amortization of deferred issuance costs 167,539   53,941  
Non-cash allocation of convertible note proceeds to embedded derivative 63,418    
Non-cash allocation of note proceeds to commitment shares 785,200    
Distributions of digital assets for prepaid interest – related party 2,313,975 2,313,975
Supplemental disclosure of cash flow information        
Cash paid during the period for interest expense $ 3,408,749 51,181
Cash paid during the period for income taxes     $ 6,139 $ 3,110