XML 17 R6.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net loss $ (13,367,699) $ (856,082)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 89,874 39,823
Change in fair value of digital assets 4,997,173
Accretion of note payable discount 20,000
Non cash interest expense 176,176 56,331
Stock based compensation 1,167,775 182,400
Non-cash professional fees 4,894,750
Non cash lease expense (1,045) (34)
Provision for bad debt and write-off on uncollectable accounts 1,945 5,563
Foreign exchange (gain)/loss 552
Changes in operating assets and liabilities:    
Accounts receivable 267,977 (30,403)
Inventory (66,416) (46,921)
Prepaid expenses (2,399,204) (142,084)
Deferred revenue 428,093 (10,395)
Due to related parties (187,825) (12,270)
Accounts payable and accrued liabilities 181,222 14,308
Net cash used in operating activities (3,796,652) (799,764)
Investing activities    
Purchase of property and equipment (11,738) (6,465)
Purchase of digital assets (142,500,000)
Net cash used in investing activities (142,511,738) (6,465)
Financing activities    
Proceeds from at-the-market offering 21,357,562
Proceeds from private placement of pre-funded warrants, net 137,907,255
Proceeds from exercise of warrants 370,288
Payments of deferred offering costs (786,725)
Repayments of notes payable (660,000)
Repayments of loans due to related parties (425,241)
Net cash provided by financing activities 157,763,139
Effect of exchange rate changes on cash and cash equivalents (1,151)
Net increase (decrease) in cash 11,453,598 (806,229)
Cash and cash equivalents at beginning of period 1,460,997 2,016,611
Cash and cash equivalents at the end of period 12,914,595 1,210,382
Supplementary cash flow disclosure    
Cash paid for interest 80,237
Supplementary schedule of non-cash investing and financing activities    
Debt to equity conversion 3,930,314
Digital assets received in connection with pre-funded warrants $ 26,349,890