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Segment Reporting
 12 Months Ended
Dec. 31, 2025
Segment Reporting  
Segment Reporting

Note 15 – Segment Reporting

The Company has two operating and reporting segments (ophthalmic technology and digital assets). The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The chief operating decision maker (“CODM”), who is the Company’s chief executive officer, utilizes the Company’s financial information on an aggregate basis for purposes of making operating decisions, allocating resources and assessing financial performance, as well as for making strategic operations decisions and managing the organization.

The following table summarizes the activity of the Company’s segments for the years ended December 31, 2025 and 2024:

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​

​

​

​

​

​

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​

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​

​

For the Years Ended December 31,

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

Ophthalmic

​

Digital

​

Corporate/

​

​

​

​

Ophthalmic

​

Digital

​

Corporate/

​

​

​

​

  ​ ​ ​

Technology

  ​ ​ ​

Assets

  ​ ​ ​

Other

  ​ ​ ​

Total

  ​ ​ ​

Technology

  ​ ​ ​

Assets

  ​ ​ ​

Other

  ​ ​ ​

Total

Revenue:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenue

​

$

14,720

​

$

798,735

​

$

—

​

$

813,455

​

$

57,336

​

$

—

​

$

—

​

$

57,336

Less:

​

​

​

​

​

​

​

 

​

​

​

  ​

​

​

​

​

​

​

​

​

​

​

 

  ​

Cost of revenue

​

​

(48)

​

​

(303,242)

​

 

—

​

​

(303,290)

​

​

(3,927,228)

​

​

—

​

​

—

​

 

(3,927,228)

Gross Income (Loss)

​

​

14,672

​

​

495,493

​

 

—

​

​

510,165

​

​

(3,869,892)

​

​

—

​

​

—

​

 

(3,869,892)

Less:

​

​

​

​

​

​

​

 

​

​

​

  ​

​

​

​

​

​

​

​

​

​

​

 

  ​

Research and Development:

​

​

​

​

​

​

​

 

​

​

​

  ​

​

​

​

​

​

​

​

​

​

​

 

  ​

Salaries and benefits

​

​

1,099,840

​

​

—

​

 

—

​

​

1,099,840

​

​

6,215,323

​

​

—

​

​

—

​

 

6,215,323

Direct clinical and non-clinical expenses

​

​

151,180

​

​

—

​

 

—

​

​

151,180

​

​

3,072,416

​

​

—

​

​

—

​

 

3,072,416

Facilities expenses

​

​

190,182

​

​

—

​

​

—

​

​

190,182

​

​

834,406

​

​

—

​

​

—

​

​

834,406

Non-cash stock based compensation expenses

​

​

389,245

​

​

—

​

​

—

​

​

389,245

​

​

623,049

​

​

—

​

​

—

​

​

623,049

Supplies and materials

​

​

25,130

​

​

—

​

 

—

​

​

25,130

​

​

2,195,608

​

​

—

​

​

—

​

 

2,195,608

Other Expenses(1)

​

​

42,165

​

​

—

​

​

—

​

​

42,165

​

​

409,457

​

​

—

​

​

—

​

​

409,457

Depreciation expense

​

​

12,688

​

​

—

​

 

—

​

​

12,688

​

​

1,112,463

​

​

—

​

​

—

​

 

1,112,463

Realized gain - digital assets

​

​

—

​

​

(8,321,844)

​

 

—

​

​

(8,321,844)

​

​

—

​

​

—

​

​

—

​

 

—

Unrealized gain/loss - digital assets

​

​

—

​

​

9,030,413

​

 

—

​

​

9,030,413

​

​

—

​

​

—

​

​

—

​

 

—

Impairment loss - digital assets

​

​

—

​

​

27,188,768

​

 

—

​

​

27,188,768

​

​

—

​

​

—

​

​

—

​

 

—

Impairment loss - other assets

​

​

—

​

​

—

​

 

—

​

​

—

​

​

11,207,897

​

​

—

​

​

—

​

 

11,207,897

Gain on covered call option

​

​

—

​

​

(157,570)

​

 

—

​

​

(157,570)

​

​

—

​

​

—

​

​

—

​

 

—

Provision for credit losses

​

​

—

​

​

405,331

​

 

—

​

​

405,331

​

​

—

​

​

—

​

​

—

​

 

—

Reacquisition of license rights

​

​

—

​

​

—

​

 

—

​

​

—

​

​

4,864,600

​

​

—

​

​

—

​

 

4,864,600

Segment loss

​

​

1,910,430

​

​

28,145,098

​

 

—

​

​

30,055,528

​

​

30,535,219

​

​

—

​

​

—

​

 

30,535,219

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Reconciling Items

​

​

​

​

​

​

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

​

Selling, general and administrative expense (2)

​

​

—

​

​

—

​

​

17,175,698

​

​

17,175,698

​

​

14,333,114

​

​

—

​

​

—

​

​

14,333,114

Other (income) expense, net (3)

​

​

—

​

​

—

​

 

(1,406,626)

​

​

(1,406,626)

​

​

(1,080,208)

​

​

—

​

​

—

​

 

(1,080,208)

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net Income (Loss)

​

$

(1,895,758)

​

$

(27,649,605)

​

$

(15,769,072)

​

$

(45,314,435)

​

$

(49,818,433)

​

$

—

​

$

—

​

$

(49,818,433)

(1)Other research and development expenses include outsourced engineering and IT systems used for research and development.
(2)Selling, general and administrative expenses primarily include professional fees, general and administrative compensation expenses, general strategic consulting, Nasdaq/SEC fees, insurance and facilities expenses.
(3)Other (income) expense, net includes interest income, interest expense and gain on extinguishment of liabilities.

​

The following table summarizes the segment assets for the years ended December 31, 2025 and 2024:

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​

​

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​

December 31, 2025

​

December 31, 2024

​

  ​ ​ ​

Ophthalmic

  ​ ​ ​

Digital

  ​ ​ ​

Corporate/

  ​ ​ ​

​

​

  ​ ​ ​

Ophthalmic

  ​ ​ ​

Digital

  ​ ​ ​

Corporate/

  ​ ​ ​

​

​

​

​

Technology

​

Assets

​

Other

​

Total

​

Technology

​

Assets

​

Other

​

Total

Segment Assets

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

Cash

​

$

—

​

$

—

​

$

6,443,467

​

$

6,443,467

​

$

2,121,463

​

$

—

​

$

—

​

$

2,121,463

Digital assets

​

 

—

​

 

43,872,033

​

 

—

​

 

43,872,033

​

 

—

​

 

—

​

 

—

​

 

—

All other assets

​

 

132,652

​

 

—

​

 

1,316,104

​

 

1,448,756

​

 

1,546,296

​

 

—

​

 

—

​

 

1,546,296

Total Assets

​

$

132,652

​

$

43,872,033

​

$

7,759,571

​

$

51,764,256

​

$

3,667,759

​

$

—

​

$

—

​

$

3,667,759

​