v3.26.1
Convertible Note Payable (Tables)
6 Months Ended
Jun. 30, 2026
Convertible Note Payable [Abstract]  
Schedule of Fair Value of Convertible Notes Payable

The fair value of note payable is estimated using the binomial lattice methodology based on a modified Cox-Ross-Rubenstein approach that incorporates the following inputs as of June 17, 2026:

 

Share price   $ 7.29  
EUR/USD FX rate   $ 1.1591 per €1  
Volatility     70 %
Risk-free rate     2.53 %
Credit spread     3.60 %
Risk-adjusted rate     6.13 %
Dividend rate     0.00 %
EURIBOR     EURIBOR forward curve data  
Schedule of Convertible Notes Payable

The following table presents the fair value of the convertible notes payable as of June 17, 2026:

 

Notes payable   $ 359,429,226  
Embedded derivative     7,151,421  
Convertible note payable   $ 366,580,647  
Schedule of Fair Value Note Payable is Estimated Using the Binomial Lattice Methodology

The following table presents a reconciliation of the Company’s convertible notes payable:

 

Balance, December 31, 2025   $ -  
Acquired in business combination (Note 3)     366,580,647  
Interest accretion     61,294  
Change in fair value     (1,601,747 )
Changes in currency translation     (6,228,557 )
Balance, June 30, 2026   $ 358,811,637