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v3.25.3

Segments | 9 Months Ended
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Sep. 30, 2025
Segments [Abstract] |
SEGMENTS | NOTE 15 – SEGMENTS The Company applies ASC 280, Segment Reporting, in determining its reportable segments. The Company has two reportable segments: Bitcoin Mining and Fintech Services. The guidance requires that segment disclosures present the measure(s) used by the Chief Operating Decision Maker (“CODM”) to decide how to allocate resources and for purposes of assessing such segments’ performance. The Company’s CODM is comprised of several members of its executive management team who use revenue and expenses of our two reporting segments to assess the performance of the business of our reportable operating segments. The following tables detail revenue, operating expenses, and assets, liabilities and equity for the Company’s reportable segments as of and for the nine months ended September 30, 2025.
|  | Fintech Segment |  |  | Bitcoin Mining Segment |  |  | Consolidated Total |
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash |  | $ | 3,489 |  |  | $ | 51 |  |  | $ | 3,540 |
Accounts receivable, net |  |  | 46,863 |  |  |  | — |  |  |  | 46,863 |
Other receivables |  |  | 420,382 |  |  |  | 398,983 |  |  |  | 819,365 |
Other current assets |  |  | 6,230 |  |  |  | 14,236 |  |  |  | 20,466 |
Total Current Assets |  |  | 476,964 |  |  |  | 413,270 |  |  |  | 890,234 |
Other Assets: |  |  |  |  |  |  |  |  |  |  |  |
Property and equipment, net |  |  | — |  |  |  | 2,728,530 |  |  |  | 2,728,530 |
Goodwill |  |  | 8,139,889 |  |  |  | — |  |  |  | 8,139,889 |
Operating lease right-of-use assets |  |  | 108,517 |  |  |  | — |  |  |  | 108,517 |
Other long-term assets |  |  | 380,953 |  |  |  | — |  |  |  | 380,953 |
Total Other Assets |  |  | 8,629,359 |  |  |  | 2,728,530 |  |  |  | 11,357,889 |
TOTAL ASSETS |  | $ | 9,106,323 |  |  |  | 3,141,800 |  |  | $ | 12,248,123 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Cash overdraft |  | $ | 27,019 |  |  | $ | — |  |  | $ | 27,019 |
Accounts payable |  |  | 3,343,519 |  |  |  | 655,612 |  |  |  | 3,999,131 |
Accrued expenses |  |  | 676,652 |  |  |  | 63,375 |  |  |  | 740,027 |
Merchant portfolio purchase installment obligation |  |  | 2,000,000 |  |  |  | — |  |  |  | 2,000,000 |
Related party payable |  |  | 111,640 |  |  |  | 4,175 |  |  |  | 115,815 |
Operating lease liability – current portion |  |  | 44,940 |  |  |  | — |  |  |  | 44,940 |
Due to/from intercompany |  |  | (23,704,629 | ) |  |  | 23,704,629 |  |  |  | — |
Total Current Liabilities |  |  | (17,500,859 | ) |  |  | 24,427,791 |  |  |  | 6,926,932 |
Long Term Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Operating lease liability – net of current portion |  |  | 63,057 |  |  |  | — |  |  |  | 63,057 |
Total Liabilities |  |  | (17,437,802 | ) |  |  | 24,427,791 |  |  |  | 6,989,989 |
Stockholders’ Equity: |  |  |  |  |  |  |  |  |  |  |  |
Series A Preferred stock |  |  | — |  |  |  | — |  |  |  | — |
Common stock |  |  | 877 |  |  |  | — |  |  |  | 877 |
Treasury stock |  |  | (109,988 | ) |  |  | — |  |  |  | (109,988 | )
Additional paid-in capital |  |  | 78,330,384 |  |  |  | — |  |  |  | 78,330,384 |
Accumulated deficit |  |  | (51,677,148 | ) |  |  | (21,285,991 | ) |  |  | (72,963,139 | )
Total stockholders’ equity |  |  | 26,544,125 |  |  |  | (21,285,991 | ) |  |  | 5,258,134 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |  | $ | 9,106,323 |  |  |  | 3,141,800 |  |  | $ | 12,248,123 |
The following tables detail revenue and expenses for the Company’s reportable segments as of and for the nine months ended September 30, 2025.
|  | Fintech Segment |  |  | Bitcoin Mining Segment |  |  | Consolidated Total |
Revenue: |  |  |  |  |  |  |  |  |
Transaction and processing fees |  | $ | 6,260,981 |  |  | $ | — |  |  | $ | 6,260,981 |
Merchant equipment rental and sales |  |  | 21,238 |  |  |  | — |  |  |  | 21,238 |
Revenue, net - bitcoin mining |  |  | — |  |  |  | 224,486 |  |  |  | 224,486 |
Other revenue from monthly recurring subscriptions |  |  | 215,193 |  |  |  | — |  |  |  | 215,193 |
Digital product revenue |  |  | 180,023 |  |  |  | — |  |  |  | 180,023 |
Total revenue |  |  | 6,677,435 |  |  |  | 224,486 |  |  |  | 6,901,921 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Processing and servicing costs, excluding merchant portfolio amortization |  |  | 5,864,065 |  |  |  | — |  |  |  | 5,864,065 |
Amortization expense |  |  | — |  |  |  | — |  |  |  | — |
Depreciation expense |  |  | — |  |  |  | 503,982 |  |  |  | 503,982 |
Salaries and wages |  |  | 1,332,254 |  |  |  | 754,220 |  |  |  | 2,086,474 |
Professional fees |  |  | 367,371 |  |  |  | 162,333 |  |  |  | 529,704 |
General and administrative expenses |  |  | 1,132,652 |  |  |  | 465,258 |  |  |  | 1,597,910 |
Total operating expenses |  |  | 8,696,342 |  |  |  | 1,885,793 |  |  |  | 10,582,135 |
Loss from operations |  |  | (2,018,907 | ) |  |  | (1,661,307 | ) |  |  | (3,680,214 | )
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | (395,164 | ) |  |  | (191 | ) |  |  | (395,355 | )
Loss on conversion related party |  |  | (175,763 | ) |  |  | — |  |  |  | (175,763 | )
Loss on extinguishment of debt |  |  | (52,000 | ) |  |  | — |  |  |  | (52,000 | )
Other expense |  |  | (85,000 | ) |  |  | — |  |  |  | (85,000 | )
Total other income |  |  | (707,927 | ) |  |  | (191 | ) |  |  | (708,118 | )
Net loss |  |  | (2,726,834 | ) |  |  | (1,661,948 | ) |  |  | (4,388,332 | )
Deemed Preferred dividends (related party) |  |  | (775,000 | ) |  |  | — |  |  |  | (775,000 | )
Preferred dividends (related party) |  |  | (30,630 | ) |  |  | — |  |  |  | (30,630 | )
Net Loss Applicable to Common Stockholders’ |  | $ | (3,532,464 | ) |  | $ | (1,661,948 | ) |  | $ | (5,193,962 | )
The following tables detail revenue and expenses for the Company’s reportable segments as of and for the nine months ended September 30, 2024.
For the Nine Months Ended September 30, 2024
|  | Fintech Segment |  |  | Bitcoin Mining Segment |  |  | Consolidated Total |
Revenue: |  |  |  |  |  |  |  |  |
Transaction and processing fees |  | $ | 7,341,998 |  |  | $ | — |  |  | $ | 7,341,998 |
Merchant equipment rental and sales |  |  | 64,243 |  |  |  | — |  |  |  | 64,243 |
Revenue, net - bitcoin mining |  |  | — |  |  |  | 341,972 |  |  |  | 341,972 |
Other revenue from monthly recurring subscriptions |  |  | 307,285 |  |  |  | — |  |  |  | 307,285 |
Digital product revenue |  |  | 2,045,760 |  |  |  | — |  |  |  | 2,045,760 |
Total revenue |  |  | 9,759,286 |  |  |  | 341,972 |  |  |  | 10,101,258 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Processing and servicing costs, excluding merchant portfolio amortization |  |  | 8,330,686 |  |  |  | — |  |  |  | 8,330,686 |
Amortization expense |  |  | 196,309 |  |  |  | 224,998 |  |  |  | 421,307 |
Depreciation expense |  |  | 73,319 |  |  |  | 2,175,889 |  |  |  | 2,249,208 |
Salaries and wages |  |  | 1,564,589 |  |  |  | 745,731 |  |  |  | 2,310,320 |
Professional fees |  |  | 1,453,837 |  |  |  | 213,133 |  |  |  | 1,666,970 |
General and administrative expenses |  |  | 1,487,588 |  |  |  | 768,085 |  |  |  | 2,255,673 |
Total operating expenses |  |  | 13,106,328 |  |  |  | 4,127,836 |  |  |  | 17,234,164 |
Loss from operations |  |  | (3,347,042 | ) |  |  | (3,785,864 | ) |  |  | (7,132,906 | )
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |
Realized gain on sale of bitcoin |  |  | — |  |  |  | 225,229 |  |  |  | 225,229 |
Unrealized gain on investment |  |  | — |  |  |  | 274,731 |  |  |  | 274,731 |
Interest expense |  |  | (45,942 | ) |  |  | — |  |  |  | (45,942 | )
Total other (expense) income |  |  | (45,942 | ) |  |  | 499,960 |  |  |  | 454,018 |
Net loss |  |  | (3,392,984 | ) |  |  | (3,285,904 | ) |  |  | (6,678,888 | )
Preferred dividends (related parties) |  |  | (93,592 | ) |  |  | — |  |  |  | (93,592 | )
Net Loss Applicable to Common Shareholders |  | $ | (3,486,576 | ) |  | $ | (3,285,904 | ) |  | $ | (6,772,480 | )

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- Definition The entire disclosure for reporting segments including data and tables. 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