Summary of Significant Accounting Policies (Policies) |
6 Months Ended | |||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||
| Summary of Significant Accounting Policies [Abstract] | ||||||||||||||||||||||||||||
| Use of Estimates | Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Significant estimates in the accompanying financial statements include the valuation allowance on deferred tax assets and the estimated fair value of warrants issued for services, convertible debt and other current liabilities. |
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| Cash and Cash Equivalents | Cash and Cash Equivalents
For the purpose of the statement of cash flows, cash equivalents include time deposits, certificate of deposits, amounts held in escrow and all highly-liquid debt instruments with original maturities of three months or less. As of June 30, 2026 and December 31, 2025, the Company did not have any cash equivalents. As of June 30, 2026 and December 31, 2025, the Company had cash of approximately $20,000 and $573,000, respectively. |
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| Deferred Offering Costs | Deferred Offering Costs
In accordance with ASC Topic 340, Other Assets and Deferred Costs, the Company capitalizes certain legal, accounting, underwriting, printing, and other direct and incremental costs related to proposed offerings of its equity or debt securities as deferred offering costs. Deferred offering costs are recorded as an asset until the related offering is consummated. Upon completion of an equity offering, the deferred offering costs are charged against the gross proceeds of the offering and recorded as a reduction of additional paid-in capital. If a planned offering is abandoned or significantly delayed such that completion of the offering is no longer probable, the deferred offering costs are expensed as incurred. Deferred offering costs that are not directly attributable to a specific and probable offering are expensed as incurred. |
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| Capitalized Software | Capitalized Software
The Company capitalizes internal-use software based on the guidance in ASC 350-40, Intangibles-Goodwill and Other-Internal-Use Software. The Company expenses costs during the preliminary project stage and capitalizes costs incurred during the application development stage until the software is substantially complete and ready for its intended use. Once the internal-use software is ready for its intended use, costs associated with training and routine maintenance are expensed as incurred. Significant enhancements and upgrades to the software are capitalized provided it is probable that these expenditures will result in additional functionality. |
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| Long-Lived Assets | Long-Lived Assets
The Company reviews long-lived assets for realizability on an ongoing basis. Changes in depreciation and amortization, generally accelerated depreciation and variable amortization, are determined and recorded when estimates of the remaining useful lives or residual values of long-term assets change. The Company also reviews for impairment when conditions exist that indicate the carrying amount of the assets may not be fully recoverable. In those circumstances, the Company performs undiscounted operating cash flow analyses to determine if an impairment exists. When testing for asset impairment, the Company groups assets and liabilities at the lowest level for which cash flows are separately identifiable. Any impairment loss is calculated as the excess of the asset’s carrying value over its estimated fair value. Fair value is estimated based on the discounted cash flows for the asset group over the remaining useful life or based on the expected cash proceeds for the asset less costs of disposal. Any impairment losses would be recorded in the statements of operations and comprehensive loss. During the three and six months ended June 30, 2026 and 2025, impairment loss was recorded. |
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| Fair Value of Financial Instruments | Fair Value of Financial Instruments
The Company is required to disclose information on all assets and liabilities reported at fair value that enables the assessment of the inputs used in determining the reported fair values. ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), establishes a hierarchy of inputs used when available. Fair value is defined as the exchange price that would be received for an asset or an exit price paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.
The fair value hierarchy prioritizes inputs used to measure fair value into three levels as follows:
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| Convertible Notes Payable | Convertible Notes Payable
Fair Value Option (“FVO”) Election. The Company elected to account for the convertible notes issued, as described at Note 7 under the fair value option election pursuant to ASC Topic 825, Financial Instruments (“ASC 825”), as discussed below. The election was made to simplify the accounting for the instrument by avoiding the requirement to separately account for the embedded conversion feature as a derivative or to bifurcate the instrument into debt and equity components under ASC 470-20, Debt with Conversion and Other Options. The convertible notes accounted for under the FVO election are a debt host financial instrument. ASC 825 provides for the “fair value option” election, to the extent, to be afforded to in scope financial instruments, wherein bifurcation of an embedded derivative is not necessary, and the financial instrument is initially measured at its issue-date fair value and then subsequently remeasured at fair value on a recurring basis at each reporting period date. The fair value adjustment, as required by ASC 825, is recognized as a component of other comprehensive income (“OCI”) with respect to the portion of the fair value adjustment attributed to a change in the instrument-specific credit risk, with the remaining amount of the fair value adjustment recognized as non-operating income or expense in the accompanying statements of operations and comprehensive loss. With respect to the notes described at Note 7, as provided for by ASC 825, the estimated fair value adjustment is presented within the accompanying statements of operations, since the change in fair value of the convertible notes payable was not attributable to instrument specific credit risk. |
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| Other Current Liabilities | Other Current Liabilities
The Company evaluates future equity shares to be issued in accordance with the guidance of ASC Topic 480, Distinguishing Liabilities from Equity (“ASC 480”). Equity shares to be issued for which the Company does not have sufficient legally authorized shares to be issued are recorded as a liability and remeasured at each reporting period, until the obligation to issue shares meets equity classification, at which point the liability is reclassified to equity. During 2025, the Company incurred an obligation to issue 5,300,000 shares of restricted common stock related to the asset acquisition of RSO (see Note 3) and another 1,300,000 shares of restricted common stock in conjunction with the Convertible Bridge Notes (see Note 7). These obligations to issue shares met equity classification in January 2026, at which point the Company reclassed the liabilities to equity, recording any change in fair value through earnings.
During the three months ended June 30, 2026, the Company incurred an obligation to issue 750,000 shares of restricted common stock in conjunction with the note payable it issued in May 2026 (see Note 6). Because the Company did not have sufficient legally authorized shares to issue these shares of restricted common stock as of June 30, 2026, the Company recorded a liability when the principal balance was received from the note holder and subsequently remeasured this liability as of June 30, 2026. |
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| Concentration of Credit Risk | Concentration of Credit Risk
Financial instruments, which potentially subject the Company to concentrations of credit risk, consist of cash. The Company places its cash with high quality financial institutions and at times may exceed the Federal Deposit Insurance Corporation $250,000 insurance limit. The Company has not and does not anticipate incurring any losses related to this credit risk. |
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| Revenue | Revenue
The Company records revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). The core principle of ASC 606 is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle:
In order to identify the performance obligations in a contract with a customer, the Company assesses the promised goods or services in the contract and identifies each distinct promised good or service.
If a good or service is not distinct, the good or service is combined with other promised goods or services until a bundle of goods or services is identified as distinct.
The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both.
Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The Company evaluates any noncash consideration, consideration payable to the customer, potential returns and refunds, and whether consideration contains a significant financing element in determining the transaction price.
Revenue is measured based on consideration specified in a contract with a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a service to its customer.
Dominus Sports: During 2025, the Company established a beta league for fantasy baseball utilizing its Dominus Sports product, which provides customers the opportunity to create and own a team with three different tier pricing options. Ownership fees paid provide the customer with ownership rights over a five-year period; these ownership fees are recorded as a liability and paid out as prize money (“Team Prize Payout”) over the five-year ownership period. Customers also have the ability to buy additional micro transactions, which provide various additional rights or improvements to their teams. Micro transactions are generally recognized as revenue when billed.
RSO: During 2025, the Company acquired RSO, which is a premier dynasty-style Football fantasy sports platform built around real-world contract negotiations, salary-cap management, and multi-season franchise control. The Company earns subscription and support revenue by granting customers access to its RSO platform technology, whereby customers are able to manage a football fantasy team. Subscription and support revenue primarily includes subscription fees from customers accessing the Company’s RSO platform (“RSO Platform Services”).
Subscription and support revenues are comprised of fees that provide customers with access to the RSO Platform Services and related support and updates during the term of the arrangement. RSO Platform Services allow customers to use the Company’s software without taking possession of the software. Revenue is generally recognized ratably over the contract term. Substantially all of the Company’s subscription service arrangements are noncancellable and do not contain refund-type provisions.
The Company typically invoices its customers annually and its payment terms provide that customers pay within 30 days of invoice. Amounts that have been invoiced are recorded in accounts receivable and in deferred revenue or revenue, depending on whether transfer of control to the customer has occurred.
Revenue for the three and six months ended June 30, 2026 from RSO Platform Services and Dominus Sports was approximately $16,000 and $22,000, respectively. During the three and six months ended June 30, 2025, the Company received approximately and $1,600, respectively, of revenue (included as part of discontinued operations; see Note 15) from prize money earned from teams that it sponsored for certain Esports competitions. |
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| Cost of Revenue | Cost of Revenue
Cost of revenue consists primarily of costs directly attributable to providing customers access to the Company’s fantasy league platforms (both Dominus Sports and RSO Platform Services), including hosting and cloud infrastructure costs, third-party data and content fees, payment processing fees, platform-related customer support costs, and amortization of capitalized software costs related to the platform. Costs incurred for sales and marketing, and general and administrative activities are excluded from cost of revenue and expensed as incurred. |
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| Stock-based compensation | Stock-based compensation
The Company recognizes compensation for grants of stock options in the statement of operations based on their fair values at the measurement date (generally the grant date). The expense associated with the grants is recognized on a straight-line basis over the service period of each award. The Company recognizes forfeitures as they occur. |
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| Income Taxes | Income Taxes
The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes (“ASC 740”). ASC 740 requires a company to use the asset and liability method of accounting for income taxes, whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all of, the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Under ASC 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company has no material uncertain tax positions for any of the reporting periods presented. |
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| Basic and Diluted Earnings Per Share | Basic and Diluted Earnings Per Share
Earnings per share is calculated in accordance with ASC Topic 260, Earnings Per Share (“ASC 260”). Basic earnings per share (“EPS”) is based on the weighted average number of common shares outstanding. Diluted EPS assumes that all dilutive securities are converted. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. |
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| Segments | Segments
The Company has one reportable segment, which is the development of fantasy sports. At June 30, 2026 and December 31, 2025, 100% of the Company’s total assets are located within the United States of America. |
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| Recent Accounting Pronouncements | Recent Accounting Pronouncements
During 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes. ASU No. 2023-09 amends income tax disclosures to provide information to better assess how an entity’s operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. The new guidance requires the entity to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. The Company adopted ASU 2023-09 for the year ended December 31, 2025, and applied the new disclosure requirements retrospectively.
During November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”). The guidance requires public companies to disclose, in the notes to financial statements, specified information about certain costs and expenses at each interim and annual reporting period. This guidance is effective for public business entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The Company expects to adopt this guidance in its fiscal year beginning January 1, 2027. The Company is evaluating the potential impact of this guidance on its financial statement disclosures.
In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”). The new guidance eliminates the previous requirement to track software development costs by project stage and instead requires capitalization of eligible costs when (1) management authorizes and commits to funding the project, and (2) it is probable that the project will be completed and the software will be used as intended. The guidance also introduces the concept of significant development uncertainty, which must be resolved before costs can be capitalized. This ASU is effective for annual reporting periods beginning after December 15, 2027, including interim periods within those fiscal years. The Company is evaluating the potential impact of this guidance on its financial statements. |