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Debt and other liabilities (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Instrument [Line Items]  
Schedule of Short-Term and Long-Term Debt and Other Liabilities

June 30, 2025

 

December 31, 2024

 

Short-term debt and other liabilities

 

 

 

 

 

 

Short-term debt (8.1)

$

 

28,745,993

 

$

 

—

 

Short-term debt to related parties (8.2)

 

 

—

 

 

 

5,102,211

 

Ordinary shares payable (8.3)

 

 

—

 

 

 

1,206,609

 

Convertible debt (8.4)

 

 

111,837

 

 

 

10,288,123

 

Short term convertible debt to related party (8.5)

 

 

108,047

 

 

 

95,309

 

Share-based payment liability (8.6)

 

 

1,400,000

 

 

 

1,400,000

 

Convertible promissory notes (8.7)

 

 

538,524

 

 

 

6,428,825

 

Advisors loans (8.8)

 

 

3,865,447

 

 

 

12,812,366

 

Long-term debt and other liabilities

 

 

 

 

 

 

Long-term debt (8.1)

 

 

121,140

 

 

 

—

 

Total short-term and long-term debt and other liabilities

$

 

34,890,988

 

$

 

37,333,443

 
Schedule of Short-Term and Long-Term Debt

June 30, 2025

 

December 31, 2024

 

Short-term debt

 

 

 

 

 

 

Senior-secured term-loan facility (the "Facility")

$

 

28,629,626

 

$

 

—

 

Non-Banking Financial Company loan (Prediqt)

 

 

116,367

 

 

 

—

 

Total short-term debt

$

 

28,745,993

 

$

 

—

 

Long-term debt

 

 

 

 

 

—

 

Non-Banking Financial Company loan (Prediqt)

$

 

121,140

 

$

 

—

 

Total long-term debt

 

 

121,140

 

 

 

—

 
Schedule of Convertible debt

The carrying amount of the convertible debt under troubled debt restructuring was as follows:

June 30, 2025

 

December 31, 2024

 

Convertible debt

 

 

 

 

 

 

Convertible debt under troubled debt restructuring

$

 

130,000

 

$

 

12,103,565

 

Accrued interest on debt under troubled debt restructuring

 

 

54,585

 

 

 

7,176,741

 

Discount on convertible debt under troubled debt restructuring

 

 

(72,747

)

 

 

(7,401,611

)

Debt issuance costs on debt under troubled debt restructuring

 

 

—

 

 

 

(1,590,572

)

Total convertible debt

$

 

111,837

 

$

 

10,288,123

 

Short term convertible debt to related party

 

 

125,000

 

 

 

125,000

 

Accrued interest on convertible debt to related party

 

 

22,399

 

 

 

17,221

 

Discount on convertible debt to related party

 

 

(39,352

)

 

 

(46,912

)

Total short term convertible debt to related party

 

 

108,047

 

 

 

95,309

 

Total convertible debt under troubled debt restructuring

$

 

219,884

 

$

 

10,383,432

 

 

 
Schedule of convertible promissory notes

8.7 Convertible Promissory notes

 

June 30, 2025

 

December 31, 2024

 

Convertible promissory notes

 

 

 

 

 

 

YA notes

$

 

—

 

$

 

2,250,245

 

Convertible promissory notes

 

 

538,524

 

 

 

1,146,966

 

Promissory note from sponsor

 

 

—

 

 

 

3,031,614

 

Total

$

 

538,524

 

$

 

6,428,825

 
Armada Acquisition Corp I [Member]  
Debt Instrument [Line Items]  
Schedule of convertible promissory notes

The following amounts for advisors loans remain outstanding as June 30, 2025:

 

June 30, 2025

 

December 31, 2024

 

Advisors loans

 

 

 

 

 

 

Northland Securities

$

 

—

 

$

 

5,491,806

 

J.V.B Financial Group

 

 

3,865,447

 

 

 

7,320,560

 

Total

$

 

3,865,447

 

$

 

12,812,366