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SHARE-BASED PAYMENT LIABILITY | 12 Months Ended
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Dec. 31, 2025
Share-Based Payment Arrangement [Abstract] |
SHARE-BASED PAYMENT LIABILITY | NOTE 9: SHARE-BASED PAYMENT LIABILITY The Company’s collegiate apparel agreements (AAA Tuscaloosa, Traffic Holdco, Grove Collective, Buffalo Sports / Learfield – see Note 5) include make-whole provisions under which the Company is required to deliver a guaranteed aggregate dollar value through a variable number of common shares. Because the number of shares required for settlement varies based on the Company’s stock price, these arrangements are classified as liability-classified share-based payment awards under ASC 718. At inception, the Company measures the liability at fair value using a Monte Carlo simulation model, with a corresponding prepaid marketing asset recognized. The liability is remeasured at fair value at each subsequent reporting date, with changes recognized in earnings. The prepaid marketing asset is amortized on a straight-line basis over the contractual service period. See Note 5 for prepaid marketing balances. The share-based payment liability is classified within Level 2 of the fair value hierarchy under ASC 820. The primary inputs to the Monte Carlo simulation model — including the Company’s stock price, risk-free interest rate, and contractual term — are observable market inputs. Accordingly, the Company classifies these liabilities as Level 2. There were no transfers between levels during the year ended December 31, 2025. The following assumptions were used in the Monte Carlo simulation model at initial recognition and remeasurement as of December 31, 2025 of each make-whole liability: SCHEDULE OF ASSUMPTIONS WERE USED IN SHARE BASED PAYMENT LIABILITY At Initial Recognition
|  | Stock Price |  |  | Strike Price |  |  | Term (Yrs) |  |  | Volatility |  |  | Risk-Free Rate |  |  | Fair Value per Share |  |  | Total Fair Value |
Traffic Holdco (Sep 22) |  | $ | 7.92 |  |  | $ | 10.50 |  |  |  | 1.25 |  |  |  | 182 | % |  |  | 3.53 | % |  | $ | 7.27 |  |  | $ | 6,234,755 |
AAA Tuscaloosa (Sep 22) |  | $ | 7.92 |  |  | $ | 10.50 |  |  |  | 1.25 |  |  |  | 182 | % |  |  | 3.53 | % |  | $ | 7.27 |  |  |  | 2,078,249 |
Grove (Nov 19) |  | $ | 7.50 |  |  | $ | 7.79 |  |  |  | 1.25 |  |  |  | 197 | % |  |  | 3.53 | % |  | $ | 5.41 |  |  |  | 2,082,532 |
Learfield (Dec 3) |  | $ | 6.68 |  |  | $ | 5.44 |  |  |  | 1.25 |  |  |  | 193 | % |  |  | 3.53 | % |  | $ | 3.54 |  |  |  | 724,953 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 11,120,489 |
At Remeasurement (December 31, 2025)
|  | Stock Price |  |  | Strike Price |  |  | Term (Yrs) |  |  | Volatility |  |  | Risk-Free Rate |  |  | Fair Value per Share |  |  | Total Fair Value |
Traffic Holdco (Dec 31) |  | $ | 12.68 |  |  | $ | 10.50 |  |  |  | 1.19 |  |  |  | 180 | % |  |  | 3.48 | % |  | $ | 5.12 |  |  | $ | 5,390,539 |
AAA Tuscaloosa (Dec 31) |  | $ | 12.68 |  |  | $ | 10.50 |  |  |  | 1.19 |  |  |  | 180 | % |  |  | 3.48 | % |  | $ | 5.12 |  |  |  | 1,813,512 |
Grove (Dec 31) |  | $ | 12.68 |  |  | $ | 7.79 |  |  |  | 1.14 |  |  |  | 180 | % |  |  | 3.48 | % |  | $ | 3.21 |  |  |  | 1,635,666 |
Learfield (Dec 31) |  | $ | 12.68 |  |  | $ | 5.44 |  |  |  | 1.25 |  |  |  | 180 | % |  |  | 3.48 | % |  | $ | 3.54 |  |  |  | 565,982 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 9,405,699 |
Volatility was estimated based on the historical stock price of the Company over the applicable measurement period. The risk-free rate is based on the U.S. Treasury yield curve for the instrument’s remaining term as of the measurement date. The strike price represents the minimum guaranteed aggregate value per the respective agreement divided by the number of shares issued. The following is a summary of activity of the share-based payment liability for the year ended December 31, 2025: SCHEDULE OF ACTIVITY OF SHARE BASED PAYMENT LIABILITY
|  | Share-Based Payment |
|  | Liability |
Balance, December 31, 2024 |  | $ | - |
Initial recognition - make-whole provisions |  |  | 11,120,489 |
Change in fair value (gain) |  |  | (1,714,790 | )
Balance, December 31, 2025 |  | $ | 9,405,699 |
There were no transfers between levels during the year ended December 31, 2025.

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