XML 25 R12.htm IDEA: XBRL DOCUMENT

Digital Assets

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

4. Digital Assets

As of September 30, 2025, the cost and fair value of digital assets that were initially purchased during August 2025 were as follows (there were no digital assets at December 31, 2024):

Schedule of Digital Assets

		Units		Cost				Unrealized Gain (Loss) on Change in Fair Value				Fair Value

Bitcoin		10.59		$	1,205,540			$	2,261			$	1,207,801
Ethereum		300.70			1,431,820				(185,148	)			1,246,672
Total				$	2,637,360			$	(182,887	)		$	2,454,473

Digital currency prices are affected by various forces, including global supply and demand, interest rates, exchange rates, inflation or deflation, and the global political and economic conditions. Digital assets have a limited history, and the fair value historically has been very volatile. The Company may not be able to liquidate its inventory of digital assets currency at its desired price if required. The Company has recorded an unrealized net loss resulting from a decrease in the fair value of digital assets of $182,887 that is included in the loss from operations in the Company’s consolidated statements of operations.

The Company’s digital asset holdings in Bitcoin and Ethereum represent 100% of the Company’s digital assets as of September 30, 2025. Bitcoin and Ethereum are digital assets, a novel asset class subject to potential legal, regulatory, commercial, and technical uncertainties. These assets do not generate cash flow and require the Company to incur custodial and safeguarding costs.

The market prices of Bitcoin and Ethereum have historically exhibited significant volatility, and a material decrease in their fair value could adversely impact the Company’s financial condition and results of operations. The Company’s strategy of acquiring and holding Bitcoin and Ethereum also subjects it to counterparty risks related to third-party custody arrangements, as well as cybersecurity risks and other operational risks inherent in managing digital assets.

In particular, the Company is exposed to the risk that the private cryptographic keys necessary to access its digital assets may potentially be lost, destroyed, or otherwise rendered inaccessible. Any such loss could result in a partial or total loss of the affected digital assets, which would materially and adversely affect the Company’s financial condition and operating results.