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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
ASSETS    
Cash and cash equivalents $ 18,405 $ 7,958
Prepaid expenses and other current assets 648 717
Total current assets 19,053 8,675
Digital assets, at fair value 160,086 0
Other assets 604 360
TOTAL ASSETS 179,743 9,035
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)    
Accounts payable 1,978 257
Accrued liabilities 1,127 396
Unsecured Convertible Notes, net of discounts 0 67
Operating lease liabilities 471 422
Total current liabilities 3,576 1,142
Warrant liabilities, at fair value 33,715 639,071
Operating lease liabilities-non-current 166 287
Deferred tax liabilities, net 3,461 0
Total liabilities 40,918 640,500
Commitments and Contingencies  
Stockholders’ equity (deficit):    
Common stock, $0.01 par value; 5,000,000 shares authorized, 26,717 and 25,216 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively [1] 267 252
Additional paid-in capital 405,209 186,981
Accumulated deficit (266,651) (819,054)
Total stockholders’ equity (deficit) 138,825 (631,815)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) 179,743 9,035
Series F Preferred Stock [Member]    
Mezzanine (temporary) equity:    
Preferred stock, $0.01 par value; 5,000 shares authorized; Series F Preferred Stock; 0 and 1,347 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 0 350
Series B Preferred Stock [Member]    
Stockholders’ equity (deficit):    
Preferred stock, $0.01 par value; 5,000 shares authorized; Series B Preferred Stock; 0 shares issued and outstanding at March 31, 2026 and December 31, 2025 $ 0 $ 6
[1] After giving retroactive effect to a 1-for-5 reverse stock split that became effective February 20, 2026.