Note Payable and Collateral Receivable |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Note Payable and Collateral Receivable | Note 7 - Note Payable and Collateral Receivable
On July 14, 2022, the Company entered into a master loan agreement with a lender for $1,000,000. The borrowing had a term of 24 months and bore interest at a rate of 2.5% per annum. The loan was non-recourse and was secured by digital asset, consisting of 100 bitcoins, valued on the issuance date at $2,086,045, repledged from customer collateral. The lender’s recourse was limited to the pledged collateral, and the Company had no further obligation beyond such collateral.
On July 12, 2024, the Company repaid the outstanding note payable, including accrued interest of $8,679, totalling $1,397,255. On July 15, 2024, the related digital asset collateral, consisting of 100 Bitcoins, valued at $4,230,078, was returned by the lender and subsequently, the Company returned it to its borrower. Interest expense related to the note payable was $0 and $18,804 for the year ended December 31, 2025, and 2024.
As of December 31, 2025, and 2024, the Company had no outstanding borrowings under this arrangement, and the carrying value of the note payable was $0. The Company did not enter into any new borrowing arrangements during the year ended December 31, 2025, and 2024.
As of December 31, 2025, and 2024, the Company also had no outstanding collateral receivable due from the lender or corresponding collateral-related liabilities.
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