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Subsequent Events

6 Months Ended

Jun. 30, 2026

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 14 — SUBSEQUENT EVENTS

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued. The Company did not identify any subsequent events, except as noted below, that would have required adjustment or disclosure in the financial statements.

Office lease

In July 2026, the Company entered into a Commercial Sublease Agreement (the “Sublease”) with American State Bank, a Texas banking association, for approximately 3,766 rentable square feet of office space at 1900 N. Pearl Street, Suite 1750, Dallas, Texas 75201, which serves as the Company’s corporate headquarters. The Sublease has a term of 53 months commencing July 13, 2026 and expiring November 30, 2030. Base rent under the Sublease is as follows:

Period		Annual Rate (per RSF)				Monthly Base Rent				Lease Year
7/13/26 – 11/30/26		$	33.83			$	10,617			1
12/1/26 – 11/30/27		$	34.68			$	10,884			2
12/1/27 – 11/30/28		$	35.55			$	11,157			3
12/1/28 – 11/30/29		$	36.44			$	11,436			4
12/1/29 – 11/30/30		$	37.35			$	11,722			5

In addition to base rent, the Company is obligated to pay its proportionate share of operating expenses, real estate taxes, and landlord insurance (NNN), estimated at $26.76 per rentable square foot for 2026 (approximately $8,404 per month), subject to annual reconciliation. Upon execution, the Company paid a security deposit of $21,906 and prepaid rent of $131,436, which may be applied against future rent obligations one time per calendar quarter beginning December 1, 2027. Total amounts paid to the Sublessor upon commencement, including the security deposit, prepaid rent, and prorated July 2026 rent and NNN, were $165,420.

The Company has determined that the Sublease constitutes an operating lease under ASC 842, Leases. The total undiscounted future minimum base rent payments over the 53-month term are approximately $1,135,146. The right-of-use asset and corresponding lease liability will be recognized on the Company’s condensed consolidated balance sheet as of the commencement date of July 15, 2026 and will be reflected in the Company’s financial statements for the period ending September 30, 2026.