The consolidated financial statements of the Company have been prepared on a going concern basis, which contemplates the realization of assets and the discharge of liabilities in the normal course of business.

The Company has incurred net operating losses since inception and reported net cash used in operating activities of approximately $23.6 million for the year ended December 31, 2025. As of December 31, 2025, the Company had cash and cash equivalents of approximately $2.0 million and digital assets, consisting primarily of Bitcoin, with a fair value of approximately $92.2 million. The Company’s digital assets are company-owned, unrestricted, and classified as current assets.

Based on the Company’s current liquidity position and historical operating cash usage, management believes the Company has sufficient liquidity to meet its obligations as they become due for at least the next twelve months from the issuance date of these consolidated financial statements.

The fair value of digital assets is subject to market volatility; however, such assets are actively traded and may be liquidated, if necessary, to support operating needs. Accordingly, management has concluded that substantial doubt about the Company’s ability to continue as a going concern has been alleviated for the twelve-month period following the issuance date of these consolidated financial statements.