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INVESTMENTS AND FAIR VALUE MEASUREMENTS | 3 Months Ended
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Mar. 31, 2026
Investments And Fair Value Measurements |
INVESTMENTS AND FAIR VALUE MEASUREMENTS | 4. INVESTMENTS AND FAIR VALUE MEASUREMENTS The Company invests its surplus funds in excess of operational and capital requirements in a diversified portfolio of marketable securities, with the objectives of delivering competitive returns while maintaining a high degree of liquidity. A summary of our long-term investments are as follows: SCHEDULE OF LONG TERM INVESTMENT
|  | March 31, 2026 |  |  | December 31, 2025 |
Equity securities |  | $ | 650 |  |  | $ | 714 |
Bifurcated embedded derivative asset |  |  | 1,022 |  |  |  | 890 |
Long-term investments |  | $ | 1,672 |  |  | $ | 1,604 |
Fair Value Measurements The Company’s financial instruments include cash, prepaid expenses, accounts payable, and accrued liabilities. The fair value of cash, prepaid expenses, accounts payable and accrued liabilities approximate their carrying values due to their short-term nature, which are all considered Level 1. The Company’s financial instruments measured at fair value on a recurring basis consisted of U.S. treasury securities and corporate bonds. U.S. treasury securities are classified within Level 1 of the fair value hierarchy as they are valued based on quoted market price in an active market. Corporate bonds are valued based on quoted prices in markets that are less active and are generally classified within Level 2 of the fair value hierarchy. The Company’s financial instruments include investment in equity securities and contingent consideration which are valued based on unobservable inputs which reflect the reporting entity’s own assumptions or data that market participants would use in valuing an instrument are generally classified within Level 3 of the fair value hierarchy. As disclosed in Note 2 – Summary of Significant Accounting Policies and Supplemental Disclosures, the Company purchased digital assets held at fair value in August of 2025. The fair value of the Company’s digital assets is disclosed in Note 3 – Digital Asset Holdings. The digital assets are measured at fair value on a recurring basis using observable prices (Level 1). Valuation Techniques Bifurcated Embedded Derivative Assets Bifurcated embedded derivatives are initially recorded at fair value and are then revalued at each reporting date. The fair value of the embedded derivative was calculated using a with and without method at issuance and revalued at the end of the reporting period using a Monte Carlo simulation model that used various assumptions related to term of the underlying agreement, equity value of the issuer, expected volatility, risk-free interest rate, credit risk adjusted rate, and the probability, timing, size of the future qualified financing or non-qualified financing rounds. Because the embedded conversion features are initially and subsequently carried at fair values, the Company’s condensed consolidated statements of operations will reflect the volatility in these estimate and assumption changes. The bifurcated embedded derivative net asset was $1,022 and $890 as of March 31, 2026 and December 31, 2025, respectively. Refer to Note 6 – Promissory Convertible Notes for further details. SCHEDULE OF DERIVATIVE ASSETS
Issuer of Promissory Convertible Note |  | Measurement Date |  | Principal |  |  | Weighted- Average |  |  | Derivative Value |  |  | Valuation Technique
Customer A |  | September 30, 2025 |  |  | 45 |  |  |  | 38.2 | % |  |  | 17.19 |  |  | Monte Carlo Simulation
Customer B |  | September 30, 2025 |  |  | 60 |  |  |  | 21.8 | % |  |  | 13.08 |  |  | Monte Carlo Simulation
Customer C |  | June 30, 2025 |  |  | 60 |  |  |  | 26.8 | % |  |  | 16.08 |  |  | Monte Carlo Simulation
Weighted-Average Calculation |  |  |  |  | 165 |  |  |  | 28.1 | % |  |  | 46.35 |  |  |
Asset |  | Fair Value |  |  | Valuation Technique |  | Significant Unobservable Input |  | Input Value / Range |  |  | Weighted Average |
Bifurcated Embedded Derivative —Promissory Convertible Notes |  |  | 1,022 |  |  | Monte Carlo Simulation |  | Discount Rate (Rd) |  |  | 28 | % |  |  | 28 | %
|  |  |  |  |  |  |  | Sale Multiplier |  |  | 3.0x |  |  |  | 3.0x |
|  |  |  |  |  |  |  | Conversion Price Factor (Discount to Price) |  |  | 72% of next-round price |  |  |  | 72 | %
|  |  |  |  |  |  |  | Time to Maturity |  |  | 24 months (from issuance) |  |  |  | Varied |
|  |  |  |  |  |  |  | Risk-Free Interest Rate / Credit Spread |  |  | 6% coupon; contract rate |  |  |  | N/A |
Date |  | Total Transactions |  |  | Principal |  |  | Accrued Interest |  |  | Principal plus Accrued Interest |  |  | Valuation Technique
March 31, 2026 |  |  | 65 |  |  |  | 3,505 |  |  |  | 119 |  |  |  | 3,624 |  |  | Monte Carlo Simulation
Financial instruments measured at fair value on a recurring basis as of March 31, 2026 are classified based on the valuation technique in the table below: SCHEDULE OF FAIR VALUE ON A RECURRING BASIS AND NONRECURRING BASIS Fair Value Measurements Using
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total |
Digital assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
TON - unrestricted |  | $ | 72,446 |  |  | $ | - |  |  | $ | - |  |  | $ | 72,446 |
TON - restricted |  |  | 199,580 |  |  |  | - |  |  |  | - |  |  |  | 199,580 |
Total digital assets |  | $ | 272,026 |  |  | $ | - |  |  | $ | - |  |  | $ | 272,026 |
Non-marketable equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-marketable equity securities |  | $ | - |  |  | $ | - |  |  | $ | 650 |  |  | $ | 650 |
Total non-marketable equity securities |  | $ | - |  |  | $ | - |  |  | $ | 650 |  |  | $ | 650 |
Derivative assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bifurcated embedded derivative asset |  | $ | - |  |  | $ | - |  |  | $ | 1,022 |  |  | $ | 1,022 |
Total derivative assets |  | $ | - |  |  | $ | - |  |  | $ | 1,022 |  |  | $ | 1,022 |
Financial instruments measured at fair value on a recurring basis as of December 31, 2025 are classified based on the valuation technique in the table below: Fair Value Measurements Using
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total |
Digital assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
TON - unrestricted |  | $ | 89,628 |  |  | $ | - |  |  | $ | - |  |  | $ | 89,628 |
TON - restricted |  |  | 267,181 |  |  |  | - |  |  |  | - |  |  |  | 267,181 |
Total digital assets |  | $ | 356,809 |  |  | $ | - |  |  | $ | - |  |  | $ | 356,809 |
Non-marketable equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-marketable equity securities |  | $ | - |  |  | $ | - |  |  | $ | 714 |  |  | $ | 714 |
Total non-marketable equity securities |  | $ | - |  |  | $ | - |  |  | $ | 714 |  |  | $ | 714 |
Derivative assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bifurcated embedded derivative asset |  | $ | - |  |  | $ | - |  |  | $ | 890 |  |  | $ | 890 |
Total derivative assets |  | $ | - |  |  | $ | - |  |  | $ | 890 |  |  | $ | 890 |
Assets and liabilities that are measured at fair value on a nonrecurring basis as of December 31, 2025 are classified based on the valuation technique in the table below: Fair Value Measurements Using
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total |
Property and equipment, net |  | $ | - |  |  | $ | - |  |  | $ | 258 |  |  | $ | 258 |
Definite-lived intangible assets, net |  | $ | - |  |  | $ | - |  |  | $ | 169 |  |  | $ | 169 |
Indefinite-lived intangible assets |  | $ | - |  |  | $ | - |  |  | $ | 10 |  |  | $ | 10 |

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