v3.26.3
Segment Reporting (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting

The following tables present the financial information for each segment that is specifically identifiable or based on allocations using internal methodology for the three and nine months ended September 30, 2026 and 2025 (in thousands):

 

   Merchant Banking   Real Estate   Total 
   Three Months Ended September 30, 2026 
   Merchant Banking   Real Estate   Total 
Rental income  $-   $104   $104 
Merchant banking advisory fees   128    -    128 
Total revenue   128    104    232 
                
Compensation costs   (275)   -    (275)
Professional fees   (121)   -    (121)
Gain on equity holdings   928    -    928 
Gain on forward purchase agreement derivative   169    -    169 
Depreciation and amortization   -    (73)   (73)
Other operating expenses   (50)   -    (50)
Interest expense, net   -    (23)   (23)
Segment income before taxes   779    8    787 
                
Corporate and other non-segment operating expenses             (1,325)
Stock-based compensation             (135)
Foreign currency transaction gain             6 
Interest income, net             359 
Loss from continuing operations before taxes            $(308)

 

   Merchant Banking   Real Estate   Total 
   Three Months Ended September 30, 2025 
   Merchant Banking   Real Estate   Total 
Rental income  $-   $104   $104 
Merchant banking advisory fees   147    -    147 
Total revenue   147    104    251 
                
Compensation costs   (231)   -    (231)
Professional fees   (121)   -    (121)
Gain on equity holdings   (7,289)   -    (7,289)
Depreciation and amortization   -    (74)   (74)
Other operating expenses   (32)   -    (32)
Interest expense, net   -    (11)   (11)
Segment income (loss) before taxes   (7,526)   19    (7,507)
                
Corporate and other non-segment operating expenses             (2,440)
Stock-based compensation             (7,350)
Foreign currency transaction loss             (5)
Interest income, net             24 
Income from continuing operations before taxes            $(17,278)

 

 

   Merchant Banking   Real Estate   Total 
   Nine Months Ended September 30, 2026 
   Merchant Banking   Real Estate   Total 
Rental income  $-   $311   $311 
Merchant banking advisory fees   393    -    393 
Total revenue   393    311    704 
                
Compensation costs   (800)   -    (800)
Professional fees   (364)   -    (364)
Loss on equity holdings   (8,248)   -    (8,248)
Gain on forward purchase agreement derivative   874    -    874 
Depreciation and amortization   -    (221)   (221)
Other operating expenses   (397)   -    (397)
Interest expense, net   -    (70)   (70)
Segment (loss) income before taxes   (8,542)   20    (8,522)
                
Corporate and other non-segment operating expenses             (5,494)
Stock-based compensation             (381)
Foreign currency transaction loss             (20)
Gain on financial instruments             378 
Interest income, net             580 
Loss from continuing operations before taxes            $(13,459)

 

   Merchant Banking   Real Estate   Total 
   Nine Months Ended September 30, 2025 
   Merchant Banking   Real Estate   Total 
Rental income  $-   $311   $311 
Merchant banking advisory fees   385    -    385 
Total revenue   385    311    696 
                
Compensation costs   (700)   -    (700)
Professional fees   (362)   -    (362)
Loss on equity holdings   (7,468)   -    (7,468)
Depreciation and amortization   -    (218)   (218)
Other operating expenses   (68)   -    (68)
Interest expense, net   -    (69)   (69)
Segment (loss) income before taxes   (8,213)   24    (8,189)
                
Corporate and other non-segment operating expenses             (5,444)
Stock-based compensation             (7,775)
Foreign currency transaction loss             (4)
Interest income, net             29 
Loss from continuing operations before taxes            $(21,383)
Schedule of Assets Segment Reporting

The following table presents the Company’s specifically identifiable assets for each of the Company’s segments as of September 30, 2026 and December 31, 2025 (in thousands):

  

   September 30, 2026 
   Merchant Banking   Real Estate   Corporate   Total 
Segment assets  $20,020   $1,919   $37,854   $59,793 

 

   December 31, 2025 
   Merchant Banking   Real Estate   Corporate & Discontinued Operations   Total 
Segment assets  $14,670   $2,208   $146,966   $163,844