| Schedule of financial statements of discontinued operation |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | Three Months Ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | | | | Revenues | | $ | 954,539 | | $ | 1,510,877 | | $ | 427,389 | | $ | 776,890 | Cost of revenues | | | 965,410 | | | 1,318,302 | | | 438,695 | | | 672,607 | Gross Profit | | | (10,871) | | | 192,575 | | | (11,306) | | | 104,283 | Selling, general and administrative expenses | | | 522,930 | | | 516,923 | | | 153,557 | | | 364,723 | Loss from operations | | | (533,801) | | | (324,348) | | | (164,863) | | | (260,440) | Other income / (expense): | | | | | | | | | | | | | Bargain purchase gain | | | — | | | 2,486,702 | | | — | | | 2,486,702 | Interest expense | | | (116,458) | | | (22,559) | | | (46,340) | | | (16,414) | Other income (expense), net | | | (16,059) | | | (10,974) | | | (14,629) | | | 26,916 | Total other income (expense), net | | | (132,517) | | | 2,453,169 | | | (60,969) | | | 2,497,204 | Net loss from discontinued operations before income taxes | | | (666,318) | | | 2,128,821 | | | (225,832) | | | 2,236,764 | Gain on disposal of discontinued operation | | | 19,053,911 | | | — | | | 19,053,911 | | | — | Income tax benefit (provision) | | | (4,900,000) | | | — | | | (4,900,000) | | | — | Net income from discontinued operations after income taxes | | | 13,487,593 | | | 2,128,821 | | | 13,928,079 | | | 2,236,764 | Other comprehensive income (loss): | | | | | | | | | | | | | Foreign currency translation adjustments | | | (757,727) | | | (33,079) | | | (197,691) | | | (43,860) | Comprehensive income from discontinued operations before noncontrolling interests | | | 12,729,866 | | | 2,095,742 | | | 13,730,388 | | | 2,192,904 | Comprehensive income attributable to non-controlling interests | | | 1,665 | | | 2,733 | | | 9,489 | | | 2,733 | Comprehensive Income from discontinued operations, net of tax | | $ | 12,728,201 | | $ | 2,093,009 | | $ | 13,720,899 | | $ | 2,190,171 |
The gain on disposal was recognized as follows: | | | | | | | | | | June 17, 2026 | Fair value of consideration received — 160,000,000 Blue Cloud equity shares | | $ | 31,413,579 | Carrying amount of noncontrolling interests derecognized | | | 1,548,970 | Less: carrying amount of net assets of GIX derecognized (including amounts recognized in accumulated other comprehensive loss) | | | 13,908,638 | | | $ | 19,053,911 |
| | | | | | | | | | | | | | | | | | | ConnectM | Amounts attributable to noncontrolling interests | | Noncontrolling | | Technology Solutions, | Six Months Ended June 30, 2026 | | interests | | Inc. | Comprehensive income (loss) from operations, before disposal gain (net of tax) | | $ | 1,665 | | $ | (1,425,710) | Gain on disposal, net of tax | | | — | | | 14,153,911 | Comprehensive income from discontinued operations, net of tax | | $ | 1,665 | | $ | 12,728,201 |
| | | | | | | | | | | | | | | | | | | ConnectM | Amounts attributable to noncontrolling interests | | Noncontrolling | | Technology Solutions, | Six Months Ended June 30, 2025 | | interests | | Inc. | Income from discontinued operations, net of tax | | $ | 2,733 | | $ | 2,093,009 |
| | | | | | | | Net Assets of the discontinued operation derecognized on disposal | | December 31, 2025 | Cash and cash equivalents | | $ | 167,848 | Accounts receivable, net | | | 932,438 | Inventories, net | | | 515,826 | Prepaid expenses | | | 664,231 | Current assets from discontinued operations | | | 2,280,343 | Right-of-use asset - Operating Lease | | | 68,410 | Property and equipment, net | | | 19,706,169 | Intangible assets, net | | | 295,160 | Non-current assets from discontinued operations | | | 20,069,739 | Total assets from discontinued operation | | | 22,350,082 | Accounts payable | | | 976,430 | Accrued expenses and other current liabilities | | | 894,385 | Debt, net of debt discount | | | 883,347 | Deferred Consideration | | | 396,850 | Operating lease liability | | | 36,830 | Contract liabilities | | | 66,450 | Deferred Tax Liabilities | | | 4,039,514 | Current liabilities from discontinued operations | | | 7,293,806 | Debt, net of current portion | | | 355,929 | Operating lease liabilities, net of current portion | | | 33,795 | Non-current liabilities from discontinued operations | | | 389,724 | Total liabilities from discontinued operation | | | 7,683,530 | Noncontrolling interest | | | 1,547,305 |
|
| | | | | | | | | | | | | | | | 2025 | | 2024 | Revenues | | $ | 2,764,548 | | $ | 1,573,914 | Cost of revenues | | | 2,225,912 | | | 1,149,678 | Gross profit | | | 538,636 | | | 424,236 | Selling, general and administrative expenses | | | 1,188,520 | | | 756,552 | Loss from operations | | | (649,884) | | | (332,316) | Interest expense | | | (127,776) | | | (18,209) | Bargain purchase gain | | | 2,121,079 | | | — | Other income (expense), net | | | (163,704) | | | 4,827 | Total other income (expense), net | | $ | 1,829,599 | | $ | (13,382) | Income (loss) from discontinued operations before income taxes | | | 1,179,715 | | | (345,698) | Income tax benefit | | | 16,086 | | | — | Income (loss) from discontinued operations, net of tax | | $ | 1,195,801 | | $ | (345,698) |
| | | | | | | | | | | | | | | | 2025 | | 2024 | Cash and cash equivalents | | $ | 167,848 | | $ | 12,630 | Accounts receivable, net | | | 932,438 | | | 337,092 | Inventories, net | | | 515,826 | | | 164,131 | Prepaid expenses and other current assets | | | 664,231 | | | 398,182 | Total current assets of discontinued operations | | $ | 2,280,343 | | $ | 912,035 | Right-of-use asset – operating lease | | | 68,410 | | | 103,665 | Property and equipment, net | | | 19,706,169 | | | 10,502 | Intangible assets, net | | | 295,160 | | | 233,385 | Total non-current assets of discontinued operations | | $ | 20,069,739 | | $ | 347,552 | Total assets of discontinued operations | | $ | 22,350,082 | | $ | 1,259,587 |
| | | | | | | | | | | | | | | | 2025 | | 2024 | Accounts payable | | $ | 976,430 | | $ | 191,458 | Accrued expenses and other current liabilities | | | 894,385 | | | 446,071 | Debt, net of debt discount | | | 883,347 | | | 82,945 | Deferred consideration | | | 396,850 | | | — | Operating lease liability | | | 36,830 | | | 30,099 | Contract liabilities | | | 66,450 | | | 42,362 | Deferred tax liabilities | | | 4,039,514 | | | — | Total current liabilities of discontinued operations | | $ | 7,293,806 | | $ | 792,935 | Debt, net of current portion | | | 355,929 | | | 96,965 | Operating lease liabilities, net of current portion | | | 33,795 | | | 74,145 | Total non-current liabilities of discontinued operations | | $ | 389,724 | | $ | 171,110 | Total liabilities of discontinued operations | | $ | 7,683,530 | | $ | 964,045 |
| | | | | | | | | | As previously
reported | | Less:
discontinued
operations | | As currently
reported | | Revenues | | 35,836,809 | | 2,764,548 | | 33,072,261 | | Cost of revenues | | 24,371,255 | | 2,225,912 | | 22,145,343 | | Gross profit | | 11,465,554 | | 538,636 | | 10,926,918 | | Selling, general and administrative expenses | | 23,502,849 | | 1,188,520 | | 22,314,329 | | Loss on impairment of intangible assets | | 548,492 | | — | | 548,492 | | Loss from operations | | (12,585,787) | | (649,884) | | (11,935,903) | | Total other income (expense), net | | (3,487,971) | | 1,829,599 | | (5,317,570) | | Loss from operations before income taxes | | (16,073,758) | | 1,179,715 | | (17,253,473) | | Income tax benefit | | 16,086 | | 16,086 | | — | | Loss from continuing operations | | (16,057,672) | | 1,195,801 | | (17,253,473) | |
| | | | | | | | | | As previously
reported | | Less:
discontinued
operations | | As currently
reported | | Revenues | | 22,652,885 | | 1,573,914 | | 21,078,971 | | Cost of revenues | | 16,706,177 | | 1,149,678 | | 15,556,499 | | Gross profit | | 5,946,708 | | 424,236 | | 5,522,472 | | Selling, general and administrative expenses | | 15,145,429 | | 756,552 | | 14,388,877 | | Loss on impairment of intangible assets | | 2,403,628 | | — | | 2,403,628 | | Loss from operations | | (11,602,349) | | (332,316) | | (11,270,033) | | Total other income (expense), net | | (10,905,859) | | (13,382) | | (10,892,477) | | Loss from operations before income taxes | | (22,508,208) | | (345,698) | | (22,162,510) | | Income tax benefit | | — | | — | | — | | Loss from continuing operations | | (22,508,208) | | (345,698) | | (22,162,510) | |
| | | | | | | | | | | | ConnectM | | Amounts attributable to noncontrolling interests | | Noncontrolling | | Technology Solutions, | | Year Ended December 31, 2025 | | interests | | Inc. | | Income / (loss) from discontinued operations, net of tax | | $ | (50,006) | | $ | 1,245,807 | |
| | | | | | | | | | | | ConnectM | | Amounts attributable to noncontrolling interests | | Noncontrolling | | Technology Solutions, | | Year Ended December 31, 2024 | | | interests | | | Inc. | | Loss from discontinued operations, net of tax | | $ | — | | $ | (345,698) | |
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