v3.26.3
Segment Information
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Segment Information [Abstract]    
Segment Information

Note 15 - Segment Information 

 

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly provided to the Chief Operating Decision Maker (CODM) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer comprises the Company’s CODM. The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. The CODM uses consolidated net (loss) income as the primary metric to assess performance and the allocation of resources. As such, the Company has determined that it operates as one operating and reportable segment. Segment assets, liabilities and stockholders’ equity is presented the same as disclosed on the consolidated balance sheets. 

 

The following tables set forth significant expense categories and other specified amounts included in consolidated net income that are otherwise regularly provided to the CODM for the three months and six months ended June 30, 2026 and 2025:

 

    Three Months Ended
June 30,		     Six  Months Ended
June 30,		  
    2026     2025     2026     2025  
Revenue   $ 7,899,249     $ 10,963,174     $ 14,034,779     $ 26,930,195  
Cost of goods sold     3,058,588       685,177       5,434,627       1,538,615  
Gross profit     4,840,661       10,277,997       8,600,152       25,391,580  
                                 
General and administrative     521,980       700,222       1,017,523       1,412,898  
Research and development     23,430       30,645       49,644       50,900  
Sales and marketing     917,430       109,044       1,375,866       239,460  
Professional fees     5,020,081       4,751,253       11,119,844       9,194,599  
Compensation and related     6,069,110       4,513,335       11,092,759       9,016,939  
Depreciation and amortization     689,317       60,739       1,229,754       114,700  
Interest income, net     (23,362 )     (64,785 )     (87,037 )     (93,332 )
Other expense (income)     594,035       (409 )     592,864       (3,070 )
Income tax expense     -       167,340       -       1,539,751  
Segment expense     13,812,021       10,267,384       26,391,217       21,472,845  
Net (loss) income   $ (8,971,360 )   $ 10,613     $ (17,791,065 )   $ 3,918,735  

 

Note that the amounts presented above for research and development, sales and marketing, and general and administrative are exclusive of share-based compensation, payroll, and professional fee expenses.

Note 11– Segment Information

 

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly provided to the CODM in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer comprises the Company’s CODM. The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. The CODM uses consolidated net (loss) income as the primary metric to assess performance and the allocation of resources. As such, the Company has determined that it operates as one operating and reportable segment. Segment assets, liabilities and stockholders’ equity is presented the same as disclosed on the consolidated balance sheets.

 

The following tables set forth significant expense categories and other specified amounts included in consolidated net income that are otherwise regularly provided to the CODM for the years ended December 31, 2025 and 2024:

 

    2025     2024  
Revenue   $ 47,482,015     $ 69,658,420  
Cost of goods sold     3,043,090       13,743,284  
Gross profit     44,438,925       55,915,136  
Research and development     110,594       43,607  
Sales and marketing     636,258       536,605  
Professional fees     26,141,136       8,868,332  
Compensation and related     15,471,937       14,733,768  
General and administrative     2,548,730       396,463  
Depreciation and amortization     219,417       212,732  
Interest expense (income), net     (413,849 )     587,222  
Other expense     114,348       2,541  
Income tax expense (benefit)     6,191,266       (496,845 )
Segment expense     51,019,837       24,884,423  
Net (loss) income   $ (6,580,912 )   $ 31,030,713  

 

* Note that the amounts presented above for research and development, sales and marketing, and general and administrative are exclusive of share-based compensation, payroll, and professional fee expenses.