v3.25.4
Note 15. Segment Information (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Segment Reporting [Abstract]    
Note 15. Segment Information - Financial Data by Segment

 

Note 17 - Segment Information - Schedule of Operating Activities by Segment                                
   Three Months Ended September 30, 2025
   Financing Solutions  Real Estate Operations  Consolidating
Eliminations
  Total
             
Revenue  $3,021,874   $2,311,855   $—     $5,333,729 
Significant segment-level expenses:                    
Cost of revenue   700,901    —      —      700,901 
General and administrative expenses   2,156,815    4,977,657    —      7,134,472 
Provision for credit losses   425,567    66,351    —      491,918 
Professional fees   717,538    —      —      717,538 
Interest expense   1,426,215    1,289,360    —      2,715,575 
Other segment expenses(1)   79,901    (285)   —      79,616 
Net loss before income taxes  $(2,485,063)  $(4,021,228)  $—     $(6,506,291)

 

 

                                 
   Nine Months Ended September 30, 2025
   Financing Solutions  Real Estate Operations  Consolidating
Eliminations
  Total
             
Revenue  $9,702,278   $2,311,855   $—     $12,014,133 
Significant segment-level expenses:                    
Cost of revenue   2,077,306    —      —      2,077,306 
General and administrative expenses   6,338,059    4,977,657    —      11,315,716 
Provision for credit losses   1,472,941    66,351    —      1,539,292 
Professional fees   2,044,950    —      —      2,044,950 
Interest expense   4,208,832    1,289,360    —      5,498,192 
Other segment expenses(1)   27,779    (285)   —      27,494 
Net loss before income taxes  $(6,467,589)  $(4,021,228)  $—     $(10,488,817)
                     
Total Assets  $83,991,864   $209,900,181   $(92,164,272)  $201,727,773 

 

 

                                 
   Three Months Ended September 30, 2024
   Financing Solutions  Real Estate Operations  Consolidating
Eliminations
  Total
             
Revenue  $3,113,693   $—     $—     $3,113,693 
Significant segment-level expenses:                    
Cost of revenue   602,641    —      —      602,641 
General and administrative expenses   1,916,196    —      —      1,916,196 
Provision for credit losses   543,902    —      —      543,902 
Professional fees   610,057    —      —      610,057 
Interest expense   1,251,370    —      —      1,251,370 
Other segment expenses(1)   7,834    —      —      7,834 
Net loss before income taxes  $(1,818,307)  $—     $—     $(1,818,307)

 

                                 
   Nine Months Ended September 30, 2024
   Financing Solutions  Real Estate Operations  Consolidating
Eliminations
  Total
             
Revenue  $9,566,571   $—     $—     $9,566,571 
Significant segment-level expenses:                    
Cost of revenue   1,727,626    —      —      1,727,626 
General and administrative expenses   5,571,086    —      —      5,571,086 
Provision for credit losses   3,106,144    —      —      3,106,144 
Professional fees   1,757,637    —      —      1,757,637 
Interest expense   3,379,040    —      —      3,379,040 
Other segment expenses(1)   21,673    —      —      21,673 
Net loss before income taxes  $(5,996,635)  $—     $—     $(5,996,635)
                     
Total Assets   26,484,966    —      (9,284,590)   17,200,376 

 

(1)Other segment expenses consist of foreign exchange losses and other losses. These are disclosed in the condensed consolidated statements of operations and comprehensive loss.

 

                 
   For the Years Ended
   December 31,
   2024  2023
Revenue  $12,787,262   $11,800,228 
Cost of revenue   (2,358,114)   (3,497,364)
General and administrative expenses   (7,814,809)   (5,318,338)
Selling, general and administrative expenses   (4,019,840)   (5,561,517)
Professional fees   (2,517,381)   (1,728,146)
Other segment expenses   (4,679,843)   (3,368,070)
Net loss before income taxes  $(8,602,725)  $(7,673,207)