| REPORTABLE SEGMENTS |
NOTE 14: REPORTABLE SEGMENTS The Company’s operations are organized into five reporting segments: Owned Service Network, Managed Solutions, Keen Labs, Logistics, and Other. The structure is designed to allow the Company to evaluate the performance of its different solutions offerings, provide improved service and drive future growth in a cost-efficient manner. As disclosed in Note 4 “Disposals and Discontinued Operations”, on June 17, 2026, the Company completed the sale of GIX, which represented the Company’s “Transportation” and “Distributed Energy & Renewables” segment. The financial results of the Company’s “GIX” business has been presented as discontinued operations and therefore is excluded from segment reporting. Accordingly, the Company’s continuing operations include the following principal business segments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | | | | | | | | | | | | | | | | | | | | | Owned Service | | Managed | | | | | | | | | | | | | | | Network | | Solutions | | Logistics | | Keen Labs | | Others | | Total | Revenues | | $ | 1,982,761 | | | 147,522 | | | 3,626,992 | | | 3,854,734 | | | 182,410 | | $ | 9,794,419 | Cost of revenue | | | 1,248,766 | | | 102,142 | | | 2,823,815 | | | 2,700,005 | | | 115,639 | | | 6,990,367 | Selling, general and administrative expenses | | | | | | | | | | | | | | | | | | | Facility costs | | | 27,019 | | | 3,987 | | | — | | | — | | | 17,210 | | | 48,216 | Insurance expenses | | | 110,523 | | | 2,715 | | | 21,946 | | | — | | | 95,858 | | | 231,042 | Marketing expenses | | | 48,801 | | | 11,324 | | | — | | | 169,812 | | | 132,845 | | | 362,782 | Operational expenses | | | 1,073,928 | | | 31,840 | | | 158,486 | | | 417,447 | | | 1,313,106 | | | 2,994,807 | Compensation and related benefits | | | 413,507 | | | 39,814 | | | 287,595 | | | 346,031 | | | 400,652 | | | 1,487,599 | Travel & entertainment | | | 16,768 | | | 2,271 | | | 1,884 | | | 27,032 | | | 14,036 | | | 61,991 | Vehicle expenses | | | 67,267 | | | 3,275 | | | — | | | — | | | — | | | 70,542 | Depreciation | | | 35,586 | | | — | | | — | | | — | | | — | | | 35,586 | Amortization | | | 22,036 | | | — | | | 44,610 | | | — | | | 38,429 | | | 105,075 | Total selling, general and administrative expenses | | | 1,815,435 | | | 95,226 | | | 514,521 | | | 960,322 | | | 2,012,136 | | | 5,397,640 | Loss on impairment | | | 322,616 | | | — | | | — | | | — | | | — | | | 322,616 | (Loss) income from operations | | | (1,404,056) | | | (49,846) | | | 288,656 | | | 194,407 | | | (1,945,365) | | | (2,916,204) | Other (expense) income, net | | | (106,597) | | | — | | | 167,973 | | | (1,798) | | | (1,060,048) | | | (1,000,470) | Equity in earnings of equity method investee | | | — | | | — | | | — | | | — | | | 426,941 | | | 426,941 | Change in fair value of investment in equity securities | | | — | | | — | | | — | | | — | | | 2,312,820 | | | 2,312,820 | Net (loss) income from continuing operations | | $ | (1,510,653) | | $ | (49,846) | | $ | 456,629 | | $ | 192,609 | | $ | (265,652) | | $ | (1,176,913) | Total assets | | $ | 3,292,197 | | $ | — | | $ | 3,856,684 | | $ | 1,577,435 | | $ | 44,281,547 | | $ | 53,007,863 | Capital expenditures | | $ | 1,578 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 1,578 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | | | | | | | | | | | | | | | | | | | | | Owned Service | | Managed | | | | | | | | | | | | | | Network | | Solutions | | Logistics | | Keen Labs | | Others | | Total | Revenues | | $ | 4,401,467 | | | 608,951 | | | 2,874,783 | | | — | | | — | | $ | 7,885,201 | Cost of revenue | | | 2,447,233 | | | 395,187 | | | 2,162,027 | | | — | | | — | | | 5,004,447 | Selling, general and administrative expenses | | | | | | | | | | | | | | | | | | | Facility costs | | | 18,175 | | | 17,073 | | | — | | | — | | | 9,747 | | | 44,995 | Insurance expenses | | | 100,457 | | | 11,163 | | | 12,559 | | | — | | | 113,029 | | | 237,208 | Marketing expenses | | | 421,210 | | | 32,344 | | | — | | | — | | | 345,434 | | | 798,988 | Operational expenses | | | 1,049,417 | | | 76,178 | | | (106,380) | | | — | | | 1,636,435 | | | 2,655,650 | Compensation and related benefits | | | 1,332,382 | | | 141,008 | | | 634,000 | | | — | | | 163,443 | | | 2,270,833 | Travel & entertainment | | | (6,323) | | | 12,347 | | | 16,968 | | | — | | | 44,294 | | | 67,286 | Vehicle expenses | | | 153,818 | | | 6,718 | | | — | | | — | | | 10,694 | | | 171,230 | Depreciation | | | 57,951 | | | 19,856 | | | — | | | — | | | 6,381 | | | 84,188 | Amortization | | | 28,518 | | | — | | | 62,016 | | | — | | | 323 | | | 90,857 | Total selling, general and administrative expenses | | | 3,155,605 | | | 316,687 | | | 619,163 | | | — | | | 2,329,780 | | | 6,421,235 | Loss on impairment | | | — | | | — | | | — | | | — | | | — | | | — | Loss from operations | | | (1,201,371) | | | (102,923) | | | 93,593 | | | — | | | (2,329,780) | | | (3,540,481) | Other (expense) income, net | | | 2,722,145 | | | — | | | 11,015 | | | — | | | (6,086,614) | | | (3,353,454) | Net (loss) income from continuing operations | | $ | 1,520,774 | | $ | (102,923) | | $ | 104,608 | | $ | — | | $ | (8,416,394) | | $ | (6,893,935) | Total assets | | $ | 9,422,417 | | $ | 1,803,751 | | $ | 3,380,374 | | $ | — | | $ | 899,764 | | $ | 15,506,306 | Capital expenditures | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | | Owned Service
Network | | Managed
Solutions | | Logistics | | Keen Labs | | Others | | Total | | | | | | | | | | | | | | | | | | | | Revenues | | $ | 4,332,657 | | | 481,763 | | | 6,738,332 | | | 5,704,660 | | | 182,410 | | $ | 17,439,822 | Cost of revenue | | | 3,167,302 | | | 330,041 | | | 5,250,912 | | | 3,907,269 | | | 115,639 | | | 12,771,163 | Selling, general and administrative expenses | | | | | | | | | | | | | | | | | | | Facility costs | | | 104,260 | | | 16,089 | | | — | | | — | | | 18,228 | | | 138,577 | Insurance expenses | | | 201,856 | | | 11,513 | | | 43,891 | | | — | | | 225,372 | | | 482,632 | Marketing expenses | | | 185,442 | | | 45,264 | | | — | | | 333,454 | | | 410,573 | | | 974,733 | Operational expenses | | | 1,502,342 | | | (20,274) | | | 413,742 | | | 782,503 | | | 2,129,653 | | | 4,807,966 | Compensation and related benefits | | | 1,016,129 | | | 136,425 | | | 616,007 | | | 470,481 | | | 890,180 | | | 3,129,222 | Travel & entertainment | | | 36,550 | | | 1,050 | | | 16,140 | | | 27,032 | | | 56,685 | | | 137,457 | Vehicle expenses | | | 157,602 | | | 10,235 | | | — | | | — | | | 44 | | | 167,881 | Depreciation | | | 75,998 | | | — | | | — | | | — | | | 662 | | | 76,660 | Amortization | | | 47,595 | | | — | | | 86,074 | | | — | | | 69,608 | | | 203,277 | Total selling, general and administrative expenses | | | 3,327,774 | | | 200,302 | | | 1,175,854 | | | 1,613,470 | | | 3,801,005 | | | 10,118,405 | Loss on impairment | | | 322,616 | | | — | | | — | | | — | | | — | | | 322,616 | (Loss) income from operations | | | (2,485,035) | | | (48,580) | | | 311,566 | | | 183,921 | | | (3,734,234) | | | (5,772,362) | Other (expense) income, net | | | (3,224,743) | | | — | | | 173,742 | | | (4,605) | | | (1,599,488) | | | (4,655,094) | Equity in earnings of equity method investee | | | — | | | — | | | — | | | — | | | 708,464 | | | 708,464 | Change in fair value of investment in equity securities | | | — | | | — | | | — | | | — | | | 2,312,820 | | | 2,312,820 | Net (loss) income from continuing operations | | $ | (5,709,778) | | $ | (48,580) | | $ | 485,308 | | $ | 179,316 | | $ | (2,312,438) | | $ | (7,406,172) | Total assets | | $ | 3,292,197 | | $ | — | | $ | 3,856,684 | | $ | 1,577,435 | | $ | 44,281,547 | | $ | 53,007,863 | Capital expenditures | | $ | 2,733 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 2,733 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | Owned Service
Network | | Managed
Solutions | | Logistics | | Keen Labs | | Others | | Total | Revenues | | $ | 8,362,025 | | | 2,365,319 | | | 5,412,213 | | | — | | | — | | $ | 16,139,557 | Cost of revenue | | | 4,425,423 | | | 1,736,378 | | | 4,171,561 | | | — | | | — | | | 10,333,362 | Selling, general and administrative expenses | | | | | | | | | | | | | | | | | | — | Facility costs | | | 54,016 | | | 118,106 | | | — | | | — | | | 9,747 | | | 181,869 | Insurance expenses | | | 140,876 | | | 33,893 | | | 26,254 | | | — | | | 212,949 | | | 413,972 | Marketing expenses | | | 1,873,312 | | | 107,128 | | | — | | | — | | | 882,478 | | | 2,862,918 | Operational expenses | | | 1,542,635 | | | (462,051) | | | 215,157 | | | — | | | 2,993,446 | | | 4,289,187 | Compensation and related benefits | | | 2,197,643 | | | 800,307 | | | 634,000 | | | — | | | 403,628 | | | 4,035,578 | Travel & entertainment | | | 22,727 | | | 15,591 | | | 25,418 | | | — | | | 99,220 | | | 162,956 | Vehicle expenses | | | 219,968 | | | 106,697 | | | — | | | — | | | 10,694 | | | 337,359 | Depreciation | | | 111,286 | | | 19,856 | | | — | | | — | | | 6,381 | | | 137,523 | Amortization | | | 62,853 | | | — | | | 71,351 | | | — | | | 645 | | | 134,849 | Total selling, general and administrative expenses | | | 6,225,316 | | | 739,527 | | | 972,180 | | | — | | | 4,619,188 | | | 12,556,211 | Loss on impairment | | | — | | | — | | | — | | | — | | | — | | | — | (Loss) income from operations | | | (2,288,714) | | | (110,586) | | | 268,472 | | | — | | | (4,619,188) | | | (6,750,016) | Other (expense) income, net | | | 2,672,341 | | | — | | | 11,015 | | | — | | | (9,696,671) | | | (7,013,315) | Net (loss) income from continuing operations | | $ | 383,627 | | $ | (110,586) | | $ | 279,487 | | $ | — | | $ | (14,315,859) | | $ | (13,763,331) | Total assets | | $ | 9,422,417 | | $ | 1,803,751 | | $ | 3,380,374 | | $ | — | | $ | 899,764 | | $ | 15,506,306 | Capital expenditures | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — |
As of June 30, 2026 and December 31, 2025 the Company’s total assets located outside the United States were approximately nil and nil, respectively from its continuing operations. For the three and six months ended June 30, 2026, two and three customers, respectively represented more than 10% of total company revenue and for the three and six months ended June 30, 2025, one and two customer, respectively represented more than 10% of total company revenue. The following tables summarize disaggregated revenue information by geographic area based upon the customer’s country of domicile: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | | Owned Service | | Managed | | | | | | | | | | | | | | Network | | Solutions | | Logistics | | Keen Labs | | Others | | Total | United States | | $ | 1,982,761 | | $ | 147,522 | | $ | 3,626,992 | | $ | 3,854,734 | | $ | 182,410 | | $ | 9,794,419 | Total | | $ | 1,982,761 | | $ | 147,522 | | $ | 3,626,992 | | $ | 3,854,734 | | $ | 182,410 | | $ | 9,794,419 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | | Owned Service
Network | | Managed
Solutions | | Logistics | | Keen Labs | | Others | | Total | United States | | $ | 4,401,467 | | $ | 608,951 | | $ | 2,874,783 | | $ | — | | $ | — | | $ | 7,885,201 | Total | | $ | 4,401,467 | | $ | 608,951 | | $ | 2,874,783 | | $ | — | | $ | — | | $ | 7,885,201 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | | Owned Service
Network | | Managed
Solutions | | Logistics | | Keen Labs | | Others | | Total | United States | | $ | 4,332,657 | | $ | 481,763 | | $ | 6,738,332 | | $ | 5,704,660 | | $ | 182,410 | | $ | 17,439,822 | Total | | $ | 4,332,657 | | $ | 481,763 | | $ | 6,738,332 | | $ | 5,704,660 | | $ | 182,410 | | $ | 17,439,822 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six months ended June 30, 2025 | | | Owned Service
Network | | Managed
Solutions | | Logistics | | Keen Labs | | Others | | Total | United States | | $ | 8,362,025 | | $ | 2,365,319 | | $ | 5,412,213 | | $ | — | | $ | — | | $ | 16,139,557 | Total | | $ | 8,362,025 | | $ | 2,365,319 | | $ | 5,412,213 | | $ | — | | $ | — | | $ | 16,139,557 |
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NOTE 19: REPORTABLE SEGMENTS Following the presentation of the Company’s India - based operations as discontinued operations, the Company’s continuing operations are organized into four reporting segments: Owned Service Network, Managed Solutions, Logistics, and Corporate & Strategic Assets. The Distributed Energy & Renewables and Transportation segments comprised the India-based operations and are presented within discontinued operations for all periods presented. See Note 22, Discontinued Operations. The structure is designed to allow the Company to evaluate the performance of its different solutions offerings, provide improved service and drive future growth in a cost-efficient manner. Selected information by reportable segment is presented in the following tables: | | | | | | | | | | | | | | | | | | Year Ended December 31, 2025 | | | Owned Service
Network | | Managed
Solutions | | Logistics | | Corporate and
Strategic Assets | | Total | Revenues | | $ | 17,907,967 | | $ | 3,130,538 | | $ | 12,033,756 | | | — | | $ | 33,072,261 | Cost of revenue | | | 10,639,101 | | | 2,278,467 | | | 9,227,775 | | | — | | | 22,145,343 | Selling, general and administrative expenses | | | | | | | | | | | | | | | | Facility costs | | | 201,198 | | | 152,516 | | | — | | | 11,200 | | | 364,914 | Insurance expenses | | | 210,865 | | | 51,730 | | | 57,827 | | | 448,219 | | | 768,641 | Marketing expenses | | | 2,311,006 | | | 171,696 | | | — | | | 883,531 | | | 3,366,233 | Operational expenses | | | 3,696,282 | | | (2,483) | | | 748,231 | | | 3,907,696 | | | 8,349,726 | Compensation and related benefits | | | 4,024,294 | | | 994,087 | | | 1,303,117 | | | 1,673,018 | | | 7,994,516 | Travel & entertainment | | | 79,682 | | | 4,994 | | | 43,342 | | | 134,680 | | | 262,698 | Vehicle expenses | | | 462,668 | | | 128,830 | | | — | | | 16,766 | | | 608,264 | Depreciation | | | 209,186 | | | 15,721 | | | — | | | 25,670 | | | 250,577 | Amortization | | | 181,058 | | | (2,350) | | | 148,192 | | | 21,860 | | | 348,760 | Total selling, general and administrative expenses | | | 11,376,239 | | | 1,514,741 | | | 2,300,709 | | | 7,122,640 | | | 22,314,329 | Loss on impairment | | | 548,492 | | | — | | | — | | | — | | | 548,492 | (Loss) income from operations | | | (4,655,865) | | | (662,670) | | | 505,272 | | | (7,122,640) | | | (11,935,903) | Other (expense) income, net | | | 200,091 | | | 8,551 | | | (87,082) | | | (5,439,130) | | | (5,317,570) | Net (loss) income from operations before income taxes | | $ | (4,455,774) | | $ | (654,119) | | $ | 418,190 | | $ | (12,561,770) | | $ | (17,253,473) | Total assets | | $ | 7,573,010 | | $ | 751,591 | | $ | 3,833,283 | | $ | 1,662,158 | | $ | 13,820,042 | Capital expenditures | | $ | 49,670 | | $ | — | | $ | — | | $ | — | | $ | 49,670 |
| | | | | | | | | | | | | | | | | | Year Ended December 31, 2024 | | | Owned Service
Network | | Managed
Solutions | | Logistics | | Corporate and
Strategic Assets | | Total | Revenues | | $ | 12,201,600 | | $ | 4,429,995 | | $ | 4,307,602 | | $ | 139,774 | | $ | 21,078,971 | Cost of revenue | | | 7,633,214 | | | 4,412,938 | | | 3,447,440 | | | 62,907 | | | 15,556,499 | Selling, general and administrative expenses | | | | | | | | | | | | | | | | Facility costs | | | 178,416 | | | 300,686 | | | — | | | 4,632 | | | 483,734 | Insurance expenses | | | 262,063 | | | 223,046 | | | 31,508 | | | 354,800 | | | 871,417 | Marketing expenses | | | 691,980 | | | 251,520 | | | — | | | 2,323,912 | | | 3,267,412 | Operational expenses | | | 653,618 | | | 420,063 | | | 541,489 | | | 2,954,932 | | | 4,570,102 | Compensation and related benefits | | | 2,554,216 | | | 2,147,486 | | | — | | | 2,459,072 | | | 7,160,774 | Travel & entertainment | | | 61,700 | | | 21,318 | | | 4,973 | | | 37,891 | | | 125,882 | Vehicle expenses | | | 206,234 | | | 167,600 | | | — | | | 202,744 | | | 576,578 | Depreciation | | | 216,776 | | | — | | | — | | | 41,879 | | | 258,655 | Amortization | | | 330,750 | | | — | | | 99,553 | | | 21,308 | | | 451,611 | MSA working capital adjustment | | | — | | | (3,377,288) | | | — | | | — | | | (3,377,288) | Total selling, general and administrative expenses | | | 5,155,753 | | | 154,431 | | | 677,523 | | | 8,401,170 | | | 14,388,877 | Loss on impairment | | | 2,403,628 | | | — | | | — | | | — | | | 2,403,628 | Loss from operations | | | (2,990,995) | | | (137,374) | | | 182,639 | | | (8,324,303) | | | (11,270,033) | Other (expense) income, net | | | — | | | — | | | — | | | (10,892,477) | | | (10,892,477) | Net (loss) income from operations before income taxes | | $ | (2,990,995) | | $ | (137,374) | | $ | 182,639 | | $ | (19,216,780) | | $ | (22,162,510) | Total assets | | $ | 3,379,649 | | $ | 705,522 | | $ | 3,085,843 | | $ | 4,325,941 | | $ | 11,496,955 | Capital expenditures | | $ | 27,044 | | $ | — | | $ | — | | $ | — | | $ | 27,044 |
The following table summarizes disaggregated revenue information by geographic area based upon the customer’s country of domicile: | | | | | | | | | | | | | | | | | | Year Ended December 31, 2025 | | | Owned | | | | | | | | | | | | | | | Service | | Managed | | | | | Corporate and | | | | | | Network | | Solutions | | Logistics | | Strategic Assets | | Total | United States | | $ | 17,907,967 | | $ | 3,130,538 | | $ | 12,033,756 | | $ | — | | $ | 33,072,261 |
| | | | | | | | | | | | | | | | | | Year Ended December 31, 2024 | | | Owned | | | | | | | | | | | | | | | Service | | Managed | | | | | Corporate and | | | | | | Network | | Solutions | | Logistics | | Strategic Assets | | Total | United States | | $ | 12,201,600 | | $ | 4,429,995 | | $ | 4,307,602 | | $ | 139,774 | | $ | 21,078,971 |
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