v3.26.1
SEGMENT REPORTING (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SCHEDULE OF NET SALES BY MAJOR PRODUCT CATEGORY

The following table sets forth net revenue, cost of revenue, and gross profit by reportable segment for the three months ended March 31, 2026 and 2025:

 

in thousands  Wholesale and Distribution   Digital Asset   Total   Wholesale and Distribution   Digital Asset   Total 
   Three Months Ended March 31, 2026   Three Months Ended March 31, 2025 
in thousands  Wholesale and Distribution   Digital Asset   Total   Wholesale and Distribution   Digital Asset   Total 
Net revenue  $27   $421   $448   $1,469    —   $      1,469 
Cost of revenue   231    —    231    748    —         748 
Gross profit  $(204)  $421   $217   $721    —   $721 
SCHEDULE OF DETAILED INFORMATION ABOUT REPORTABLE SEGMENT

The following table sets forth operating expenses by reportable segment for the three months ended March 31, 2026.

 

(in thousands) 

Wholesale and

Distribution

   Digital Asset   Total    Wholesale and
Distribution		     Digital Asset     Total  
  

Three Months Ended March 31, 2026

    Three Months Ended March 31, 2025  
(in thousands) 

Wholesale and

Distribution

   Digital Asset   Total    Wholesale and
Distribution		     Digital Asset     Total  
Operating expenses                                       
Salaries, benefits and payroll taxes  $1,055   $379   $1,434    $

1,267

     $

—

     $

1,267

  
Strategic advisory warrants   —    240    240      —       —       —  
General and administrative   1,360    2,629    3,989     

2,823

       —      

2,823

  
Depreciation   126    —    126     

106

       —      

106

  
Total operating expenses  $2,541   $3,248   $5,789    $

4,196

     $ —     $ 4,196  
SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT

The following table sets forth certain asset categories reviewed by the CODM in evaluating the Company’s reportable segments and liquidity profile:

 

(in thousands)  Wholesale and Distribution   Digital Asset   Total   Wholesale and Distribution   Digital Asset   Total 
   As of March 31, 2026   As of December 31, 2025 
(in thousands)  Wholesale and Distribution   Digital Asset   Total   Wholesale and Distribution   Digital Asset   Total 
Cash equivalents, including qualifying stablecoins   268    13,052    13,320    1,733    30,780    32,513 
Accounts receivable, net   883    -    883    1,572    -    1,572 
Digital asset loan receivable   -    235    235    -    -    - 
Stablecoin-related protocol instruments   -    3,999    3,999    -    -    - 
Digital assets – BERA & BERA-equivalents   -    34,232    34,232    -    36,555    36,555 
SCHEDULE OF NET SALES DISAGGREGATED BY GEOGRAPHY

The following table sets forth net revenue disaggregated by geography:

 

(in thousands)  2026   2025 
   Three Months Ended March 31, 
(in thousands)  2026   2025 
United States  $448   $1,469 
Canada   —    — 
Europe   —    — 
Total net revenue  $448   $1,469 
SCHEDULE OF LONG-LIVED ASSETS BY GEOGRAPHIC AREA

The following table sets forth our long-lived assets by geographic area, which consist of property and equipment, net, and operating lease right-of-use assets:

 SCHEDULE OF LONG-LIVED ASSETS BY GEOGRAPHIC AREA

(in thousands)  March 31, 2026   December 31, 2025 
   As of 
(in thousands)  March 31, 2026   December 31, 2025 
United States  $122   $397 
Canada   —    — 
Europe   —    — 
Total long-lived assets  $122   $397