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2025-12-31 iso4217:USD shares iso4217:USD shares pure utr:sqft EAST:Segments false FY 0001534708 10-K true 2025-12-31 --12-31 2025 false 001-38182 BEELINE HOLDINGS, INC. NV 20-3937596 188 Valley Street Suite 225 Providence RI 02909 (888) 810-5760 Common Stock, $0.0001 par value BLNE NASDAQ No No Yes Yes Non-accelerated Filer true false false false false 23826587 30647369 <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risk Management and Strategy</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Like all companies that utilize electronic technology, we are subject to threats of breaches of our technology systems. To mitigate the threat to our business, we take a comprehensive approach to cybersecurity risk management. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskManagementProcessesIntegratedTextBlock_c20250101__20251231_z5Og5MVtvqbb">Our Board and our management oversee our risk management program, including the management of cybersecurity risks.</span> In early 2025, the Company hired a senior cybersecurity and cloud infrastructure leader. Since this hire, the Company has <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90B_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20250101__20251231_zWbAVqC3nOab">established policies</span>, standards, processes and practices for assessing, identifying, and managing material risks from cybersecurity threats, including those discussed in our Risk Factors in this Report. In addition to this devoted resource, we intend to have devoted financial resources to implement and maintain security measures to meet regulatory requirements and stockholder expectations, and we intend to continue to make investments to maintain the security of our data and cybersecurity infrastructure. We plan to validate the maturity of our Cybersecurity policies, standards and processes against industry certifications in the near future. While there can be no guarantee that our policies and procedures will be properly followed in every instance or that those policies and procedures will be effective, we believe that the Company’s sustained investment in people and technologies will have contributed to a culture of continuous improvement that has put the Company in a position to protect against potential compromises and we do not believe that risks from prior cybersecurity threats have materially affected our business to date. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_905_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantTextBlock_c20250101__20251231_zPV8eWWPqWAa">We can provide no assurance that there will not be incidents in the future or that past or future attacks will not <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90E_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20250101__20251231_zjY2nYRQw2o4">materially affect</span> us, including our business strategy, results of operations, or financial condition.</span> We are committed to addressing all incidents in a timely and transparent manner as well as ensuring the appropriate engagement of third-party partners.</span></p>   Our Board and our management oversee our risk management program, including the management of cybersecurity risks. true We can provide no assurance that there will not be incidents in the future or that past or future attacks will not <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90E_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20250101__20251231_zjY2nYRQw2o4">materially affect</span> us, including our business strategy, results of operations, or financial condition. false 106 We have audited the accompanying consolidated balance sheets of Beeline Holdings, Inc. and Subsidiaries (the “Company”) as of December 31, 2025 and 2024, the related consolidated statements of operations and comprehensive loss, changes in equity and cash flows for each of the two years in the period ended December 31, 2025, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company as of December 31, 2025 and 2024, and the consolidated results of its operations and its cash flows for each of the two years in the period ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America. SALBERG & COMPANY, P.A. 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(the “Company”) was incorporated under the laws of Nevada in 2004. On March 12, 2025, the Company changed its name from Eastside Distilling, Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Merger</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 4, 2024, the Company entered into an Agreement and Plan of Merger and Reorganization (the “Merger”) with East Acquisition Inc. (aka Bridgetown Spirits Corp.) and Beeline Financial. The Merger closed on October 7, 2024 and Beeline Financial became a wholly-owned subsidiary of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline Financial was incorporated in Delaware on July 1, 2020 and is the successor to a Rhode Island corporation organized in 2018. Beeline Financial is an Artificial Intelligence (“AI”)-driven fintech mortgage lender that develops proprietary software in the form of major enhancements and new developments in its lending platform, introducing its Chatbot Application Programming Interface (“API”) “Bob” in July 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Debt Exchange Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 4, 2024, the Company and its subsidiary, Craft Canning + Printing (“Craft C+P”), entered into the Debt Exchange Agreement (the “Debt Exchange Agreement”), which closed on October 7, 2024, resulting in the assignment by the Company of 720 barrels of spirits to Craft C+P, followed by the merger of Craft C+P into a limited liability company owned by certain creditors of the Company and the deconsolidation of Craft C+P in 2024, <i>see Note 6 - Discontinued Operations</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bridgetown Spirits</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent to the execution of the Debt Exchange Agreement referred to above, the Company organized a subsidiary, Bridgetown Spirits Corp. (“Bridgetown Spirits”), which was incorporated on October 3, 2024, and assigned the Company’s spirits business to Bridgetown Spirits. On July 25, 2025, the Company disposed of its <span id="xdx_90B_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20250725__srt--OwnershipAxis__custom--BridgetownSpiritsCorpMember_zmytVj3nbsa9" title="Ownership percentage">53</span>% interest in Bridgetown Spirits in exchange for the satisfaction of debt and as a result, Bridgetown Spirits is no longer a subsidiary of the Company, <i>see Note 6 - Discontinued Operations.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.53 <p id="xdx_80B_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_zvBjNkS6Irqi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. <span id="xdx_82A_z5g0xBngkOXh">GOING CONCERN, LIQUIDITY, AND MANAGEMENT’S PLANS</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These consolidated financial statements have been prepared on a basis that assumes the Company will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business. The Company is subject to a number of risks common to emerging companies stemming from, among other things, a limited operating history, rapid technological change, uncertainty of market acceptance and products, regulatory uncertainty, competition from substitute products and larger companies, the need to obtain additional financing, compliance with government regulation, protection of proprietary technology, interest rate fluctuations, product liability, and the dependence on key individuals. The Company has incurred recurring losses and negative cash flows from operations since its inception, and is dependent on equity financing. These factors raise substantial doubt about the Company’s ability to continue as a going concern for the twelve months following the issuance of these financial statements. The consolidated financial statements do not include any adjustments to the recovery and classification of recorded asset amounts and classification of recorded liabilities that may be necessary if the Company were unable to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management believes that in order to accomplish its business plan objectives, the Company will need to either increase revenues or raise capital by the issuance of debt and/or equity; and believes that it will be successful in obtaining this additional financing based on its recent history of driving revenue and raising funds. However, no assurances can be given.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2025, the Company expanded and diversified its warehouse lines to $<span id="xdx_904_eus-gaap--LineOfCredit_iI_pn5n6_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--LenderMember_zoNvRbTLuj8" title="Line of credit">25.0</span> million, tripling its prior $<span id="xdx_909_eus-gaap--LineOfCredit_iI_pn5n6_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--TriplingMember_z59w7CaNmV0f" title="Line of credit">5.0</span> million line and adding two new $<span id="xdx_90B_eus-gaap--LineOfCredit_iI_pn5n6_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--LenderOneMember_zfmX9c2G3yOa" title="Line of credit">5.0</span> million lines with new lenders in anticipation of rapid revenue growth and loan origination volume. In addition to the Company increasing its legacy revenue streams, the Company is diversifying into new lines of business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 25, 2025, Beeline Title facilitated the closing of what it believes to be one of the first-ever fractional sale of home real estate with a related party partner, TYTL Corp. (“TYTL”) who will fund these transactions through the sale of a crypto token which is backed by real property. While neither the Company, nor its subsidiaries, mints or receives the token, Beeline Title handles the settlement and title portions of these transactions for its partner, who is minting the token. In the fourth quarter of 2025, the Company began providing customer acquisition services and support to TYTL who mints the token and offers the equity exchange transaction. The Company receives a cash fee representing 3.5% of the amount of equity sold and markets the product through its website as BeelineEquity. Beeline Title provides the title and closing services for each transaction. Importantly, Beeline Title will open this platform to all mortgage lenders, giving them access to a proven solution for cryptocurrency token transaction reconciliation, compliance, and disbursement. As cryptocurrency adoption accelerates and becomes regulated by federal and state governments, the Company is positioning itself as a leader in this fast-moving ecosystem, offering trusted infrastructure to help lenders scale into a future where crypto and compliance go hand-in-hand. The Company collaborates with TYTL, an entity in which the Company’s Chief Executive Officer, Nicholas Liuzza, is a principal stockholder. In addition, Christopher Moe, the Company’s Chief Financial Officer, and Joseph Freedman, a director, are each TYTL shareholders. TYTL funds the transactions through the sale of a cryptocurrency token which is backed by real property. <i>See Note 24 – Related Party Transactions</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline Labs recently launched BlinkQC, a SaaS platform that automates pre-close quality control (“QC”) reviews for mortgage loan files. Beeline Loans uses BlinkQC in its own operation for its pre-close QC. Later in 2026, Beeline Labs plans to license BlinkQC, opening it up to over 1,000 banks and independent mortgage banks. BlinkQC uses artificial intelligence to ingest loan document packages, extract and validate data, apply customizable rule sets, and generate compliance reports. Management believes BlinkQC will improve QC efficiency for mortgage lenders and represents a potential source of incremental revenue for the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Despite these new lines of business, there can be no assurances that these business plans and actions will be successful, that the Company will generate anticipated revenues or operating results, or that unforeseen circumstances will not require additional funding sources in the future or effectuate plans to conserve liquidity. Future efforts to raise additional funds may not be successful or they may not be available on acceptable terms, if at all.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 25000000.0 5000000.0 5000000.0 <p id="xdx_80F_eus-gaap--SignificantAccountingPoliciesTextBlock_ztp2Yzxtvuad" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3. <span id="xdx_82D_ziVp8IQkqa09">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zMFdzRy8tUK7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BASIS OF PRESENTATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--ConsolidationPolicyTextBlock_zyWyXe1lPJyb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PRINCIPLES OF CONSOLIDATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated financial statements include the consolidated accounts of the Company and its wholly-owned subsidiaries, Beeline Financial Holdings, Inc., Beeline Title Holdings, Inc. (“Beeline Title Holdings”), Beeline Mortgage Holdings, Inc. (“Beeline Mortgage”), Beeline Labs, Inc., and Beeline Loans Pty Ltd. (“Australian Subsidiary”). Intercompany transactions and balances have been eliminated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline Title Holdings has four subsidiaries, Beeline Title, LLC, Beeline Texas Title, LLC, Beeline Settlement Services, LLC, and Beeline Title Agency, LLC. Beeline Mortgage has one subsidiary, Beeline Loans, Inc. (“Beeline Loans”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--UseOfEstimates_zNIk0tMtEeT2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>USE OF ESTIMATES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preparing financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. Significant estimates and assumptions in these consolidated statements include: the fair value of mortgage loans held for sale, valuation of investments, valuation of accounts receivable, valuation of derivative instruments, valuation of software, valuation of intangible assets, valuation of goodwill, valuation of purchase price in the business combination, valuation of the fair value of the assets acquired and liabilities assumed in the business combination, valuation of lease liabilities and related right of use assets, contingent liability for loan repurchases, and valuation of non-cash equity grants and issuances, including but not limited to stock-based compensation. Actual results and outcomes may differ from management’s estimates and assumptions due to risks and uncertainties.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_z5OBO8x0h6M9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CASH, CASH EQUIVALENTS, AND RESTRICTED CASH</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline considers highly liquid investments purchased with a remaining maturity of 90 days or less at the time of purchase to be cash equivalents. Cash equivalents include money market accounts that are readily convertible into cash.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains certain cash balances that are restricted under warehouse and/or master repurchase agreements, broker margin accounts associated with its derivative instruments and other restrictions. The restricted cash balance as of December 31, 2025 and 2024 was $<span id="xdx_900_eus-gaap--RestrictedCash_iI_pn5n6_c20251231_zJC7raa1iXR" title="Restricted cash">0.1</span> million and $<span id="xdx_909_eus-gaap--RestrictedCash_iI_pn5n6_c20241231_zfrdTbii1Hz7" title="Restricted cash">0.8</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_ecustom--MortgageLoansHeldForSaleAndGainsOnSaleOfLoansRevenueRecognitionPolicyTextBlock_zXa7Poir4VLh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MORTGAGE LOANS HELD FOR SALE AND GAINS ON SALE OF LOANS REVENUE RECOGNITION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mortgage loans held for sale are carried at fair value under the fair value option in accordance with ASC 825, <i>Financial Instruments</i>, with changes in fair value recorded in gain on sale of loans, net on the consolidated statements of operations. The fair value of mortgage loans held for sale committed to investors is calculated based on the investor commitment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gains and losses from the sale of mortgage loans held for sale are recognized based upon the difference between the sales proceeds and carrying value of the related loans upon sale and are recorded in gain on sale of loans, net on the consolidated statements of operations. Sales proceeds reflect the cash received from investors through the sale of the loan and servicing release premium. Gain on sale of loans, net also includes the unrealized gains and losses associated with the changes in the fair value of mortgage loans held for sale, and the realized and unrealized gains and losses from derivative instruments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mortgage loans held for sale are considered sold when the Company surrenders control over the financial assets. Control is considered to have been surrendered when the transferred assets have been isolated from the Company, beyond the reach of the Company and its creditors; the purchaser obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets; and the Company does not maintain effective control over the transferred assets through either an agreement that both entitles and obligates the Company to repurchase or redeem the transferred assets before their maturity or the ability to unilaterally cause the holder to return specific financial assets. The Company typically considers the above criteria to have been met upon acceptance and receipt of sales proceeds from the purchaser.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mortgage loans sold to investors by the Company, and which met investor underwriting guidelines at the time of sale, may be subject to repurchase in the event of specific default by the borrower or subsequent discovery that underwriting standards were not met. The Company may, upon mutual agreement, indemnify the investor against future losses on such loans. Actual losses incurred are reflected as a reduction in gains on sale of loans, net in the consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since mortgage loans held for sale have maturity dates greater than one year from the balance sheet date but are expected to be sold in a short time frame (less than one year), they are recorded as current assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in the balance of mortgage loans held for sale are included in cash flows from operating activities in the consolidated statements of cash flows in accordance with ASC 230-10-45-21, <i>Statement of Cash Flows</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zkwf388nZvRj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>REVENUE RECOGNITION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Gains on Sale of Loans, Net</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See discussion above under “Mortgage Loans Held for Sale and Gain on Sale of Loans Revenue Recognition” and below under “Derivative Financial Instruments and Revenue Recognition”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Loan Origination Fees and Costs</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan origination fees represent revenue earned from originating mortgage loans. Loan origination fees generally represent flat per-loan fee amounts based on a percentage of the original principal loan balance and are recognized as revenue at the time the mortgage loans are funded since the loans are held for sale. Loan origination costs are charged to operations as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Interest Income</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest income on mortgage loans held for sale is recognized for the period from loan funding to sale based upon the principal balance outstanding and contractual interest rates. Revenue recognition is discontinued when loans become 90 days delinquent, or when, in management’s opinion, the recovery of principal and interest becomes doubtful and the mortgage loans held for sale are put on nonaccrual status. For loans that have been modified, a period of six payments is required before the loan is returned to an accrual basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Interest Expense</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest expense relating to the warehouse lines of credit is included in revenues. Other interest expense is included in other (income)/expense.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Title Fees</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Settlement fees and commissions are earned at loan settlement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other Revenues</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fees received from a marketing partner who is embedded in the Company’s point-of-sale journey for investment property customers. The partner pays Beeline for leads they receive from a customer opting in to use their insurance company for landlord insurance during the application process.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Disaggregation of Revenues</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="margin: 0">The Company disaggregates its revenues as presented in its consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_ecustom--RevenueRecognitionOfDerivativeFinancialInstrumentsPolicy_zBzd5Led5Goa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DERIVATIVE FINANCIAL INSTRUMENTS AND REVENUE RECOGNITION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company holds and issues derivative financial instruments such as interest rate lock commitments (“IRLCs”). IRLCs are subject to price risk primarily related to fluctuations in market interest rates. To hedge the interest rate risk on certain IRLCs, the Company enters into best effort forward sale commitments with investors, whereby certain loans are locked with a borrower and simultaneously committed to an investor at a fixed price. If the best effort IRLC does not fund, the Company has no obligation to fulfill the investor commitment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC 815-25, <i>Derivatives and Hedging</i>, requires that all derivative instruments be recognized as assets or liabilities on the consolidated balance sheets at their fair value. The Company issues IRLCs to originate mortgage loans and the fair value of the IRLCs, adjusted for the probability that a given IRLC will close and fund, is recognized in gain on sale of loans, net on the consolidated statements of operations. Subsequent changes in the fair value of the IRLC are measured at each reporting period within gain on loans, net until the loan is funded. The Company accounts for all derivative instruments as free-standing derivative instruments and does not designate any for hedge accounting.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--TradeAndOtherAccountsReceivableUnbilledReceivablesPolicy_zJWd3jus2M1i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ACCOUNTS RECEIVABLE</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable consists primarily of amounts due from customers for services provided. Accounts receivable are stated at their gross outstanding balance, net of an allowance for credit losses. The allowance for credit losses is based on a combination of factors, including historical loss experience, aging of receivables, specific customer creditworthiness, current economic conditions, and reasonable and supportable forecasts. The Company writes off accounts receivable when they are deemed uncollectible, and any recoveries of previously written-off balances are recorded as a reduction to the provision for credit losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84F_eus-gaap--BusinessCombinationsPolicy_zZemeHGR63ra" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BUSINESS COMBINATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for business combinations in accordance with ASC 805, <i>Business Combinations</i>. Under this guidance, the Company allocates the purchase price of an acquired business to the identifiable assets acquired and liabilities assumed at their estimated fair values as of the acquisition date. The excess of the purchase price over the estimated fair value of net assets acquired is recorded as goodwill.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill represents the excess purchase price over the fair value of the tangible net assets and intangible assets acquired in the business combination. The increases or decreases in the fair value of the Company’s assets and liabilities can result from changes in fair values as of the acquisition date as determined during the one-year measurement period under ASC 805.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--GoodwillAndIntangibleAssetsPolicyTextBlock_zdnRcklmypIb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GOODWILL</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill is the excess of the purchase price over the estimated fair value of identifiable net assets acquired in business combinations. The Company tests goodwill for impairment annually in the fourth quarter, or more frequently when indications of potential impairment exist. The Company monitors the existence of potential impairment indicators throughout the fiscal year. The Company may elect to perform either a qualitative test or a quantitative test to determine if it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value. Fair value reflects the price a market participant would be willing to pay in a potential sale of the reporting unit. If the estimated fair value of the Company exceeds its carrying value, then the Company concludes the goodwill is not impaired. If the carrying value of the Company exceeds its estimated fair value, the Company recognizes an impairment loss in an amount equal to the excess, not to exceed the amount of goodwill. Based on the Company’s impairment analysis, management determined that goodwill was not impaired for the years ended December 31, 2025 and 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_842_eus-gaap--IntangibleAssetsFiniteLivedPolicy_zisaXsWj60Aj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INTANGIBLE ASSETS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for certain finite-lived intangible assets at amortized cost and other certain indefinite-lived intangible assets at cost. Management reviews all intangible assets for probable impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. If there is an indication of impairment, management would prepare an estimate of future cash flows (undiscounted and without interest charges) expected to result from the use of the asset and its eventual disposition. If these estimated cash flows were less than the carrying amount of the asset, an impairment loss would be recognized to write down the asset to its estimated fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_840_eus-gaap--LesseeLeasesPolicyTextBlock_zq1dzeLmQQ7b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>LEASE OBLIGATIONS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="margin: 0; text-align: justify">When the Company enters into lease arrangements, the lease is accounted for under ASC 842, <i>Leases</i>. At the lease commencement date, the Company recognizes a leased ROU asset and corresponding lease liability based on the present value of the lease payments over the lease term. The Company elected not to recognize lease assets and lease liabilities for leases with an initial term of 12 months or less.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zantlva4gFIf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROPERTY AND EQUIPMENT, NET</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, including leasehold improvements and internal-use software, are recorded at cost, and are depreciated or amortized using the straight-line method over the estimated useful lives of the related assets, which range from three<span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MinimumMember_zAYAPOVdEGf2" style="display: none" title="Estimated useful lives">3</span> to <span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20251231__srt--RangeAxis__srt--MaximumMember_zWmBhRHueOm8" title="Estimated useful lives">five years</span>. Repair and maintenance costs are expensed as incurred. Leasehold improvements are amortized over the shorter of the lease term or the improvement’s estimated useful life. Depreciation is not recorded on projects-in-process until the project is complete and the associated assets are placed into service or are ready for the intended use. Impairment of property and equipment other than the internal-use software is evaluated under ASC 360, <i>Property, Plant, and Equipment.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under ASC 350-40, <i>Internal-Use Software</i>, the Company capitalizes certain qualifying costs incurred during the application development stage in connection with the development of internal-use software. Costs related to preliminary project activities are expensed as incurred and post-implementation activities will be expensed as incurred. Capitalized software costs are amortized over the useful life of the software, which is <span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareCostsMember_z3IRYDXlmlBf" title="Property and equipment useful life">five years</span>. Impairment of internal-use software is evaluated under ASC 350-40-35, <i>Subsequent Measurement, </i>on a qualitative basis and if indicators exist, then a quantitative analysis is performed under ASC 360.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zPCO6fQPvDDa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FAIR VALUE MEASUREMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value is the price that would be received if an asset were sold or the price that would be paid to transfer a liability in an orderly transaction between willing market participants at the measurement date. Required disclosures include classification of fair value measurements within a three-level hierarchy (Level 1, Level 2, and Level 3). Classification of a fair value measurement within the hierarchy is dependent on the classification and significance of the inputs used to determine the fair value measurement. Observable inputs are those that are observed, implied from, or corroborated with externally available market information. Unobservable inputs represent the estimates of market participants’ assumptions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value measurements are classified in the following manner:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1—Valuation is based on quoted prices in active markets for identical assets or liabilities at the measurement date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2—Valuation is based on either observable prices for identical assets or liabilities in inactive markets, observable prices for similar assets or liabilities, or other inputs that are derived directly from, or through correlation to, observable market data at the measurement date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3—Valuation is based on the internal models using assumptions at the measurement date that a market participant would use.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In determining fair value measurement, Beeline uses observable inputs whenever possible. The level of a fair value measurement within the hierarchy is dependent on the lowest level of input that has a significant impact on the measurement as a whole. If quoted market prices are available at the measurement date or are available for similar instruments, such prices are used in the measurements. If observable market data is not available at the measurement date, judgment is required to measure fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a description of measurement techniques for items recorded at fair value on a recurring basis. There were no material items recorded at fair value on a nonrecurring basis as of December 31, 2025 and 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Mortgage loans held for sale</i>: Loans held for sale that are valued using Level 2 measurements derived from observable market data, including market prices of securities backed by similar mortgage loans adjusted for certain factors to approximate the fair value of a whole mortgage loan, including the value attributable to mortgage servicing and credit risk. Loans held for sale for which there is little to no observable trading activity of similar instruments are valued using Level 3 measurements based upon dealer price quotes and internal models.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>IRLCs</i>: The fair value of IRLCs is based on current market prices of securities backed by similar mortgage loans (as determined above under mortgage loans held for sale), net of costs to close the loans, subject to the estimated loan funding probability, or “pull-through factor.” Given the significant and unobservable nature of the pull-through factor, IRLCs are classified as Level 3.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Forward commitments</i>: Beeline’s forward commitments are valued based on quoted prices for similar assets in an active market with inputs that are observable and are classified within Level 2 of the valuation hierarchy. There were no open forward contracts as of December 31, 2025 and 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eus-gaap--DebtPolicyTextBlock_zo8MdG8rMjuf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DEBT DISCOUNT</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s debt instruments are recorded net of issuance costs (debt discount). The resulting debt discount is amortized over the term of the term loan using the straight-line method, which approximates the effective interest method, and the amortization of debt discount is included in interest expense in the consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zKSwoKuDT9f6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>FOREIGN CURRENCY TRANSLATION AND TRANSACTIONS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The reporting currency of the company is the U.S. dollar. Except for Beeline Loans Pty Ltd., the functional currency of the Company is the U.S. dollar. The functional currency of Beeline Loans Pty Ltd. is the Australian dollar. For Beeline Loans Pty Ltd., results of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the exchange rate at the end of the period, and equity is translated at historical exchange rates. As a result, amounts related to assets and liabilities reported on the statements of cash flows may not necessarily agree with the changes in the corresponding balances on the balance sheets. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining comprehensive loss. The translation loss for the year ended December 31, 2025 and the period October 8, 2024 through December 31, 2024 was $<span id="xdx_900_eus-gaap--ForeignCurrencyTransactionGainLossBeforeTax_c20250101__20251231_zSb8xxKzEb7h" title="Foreign currency translation adjustment">14,145</span> and $<span id="xdx_906_eus-gaap--ForeignCurrencyTransactionGainLossBeforeTax_c20241008__20241231_z3NOdRBfrP8l" title="Foreign currency translation adjustment">33,570</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transactions denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing on the transaction dates with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the results of operations as incurred. These transactions were de minimis for the year ended December 31, 2025 and the period October 8, 2024 through December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025 and 2024, the exchange rate used to translate balance sheet amounts from Australian dollars into U.S. dollars was $<span id="xdx_90B_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_c20251231__us-gaap--OtherCommitmentsAxis__custom--ExchangeRateUsedToTranslateBalanceSheetAmountsMember_z9vcTDU5HkZf" title="Exchange rate translation">0.67</span> and $<span id="xdx_90C_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_c20241231__us-gaap--OtherCommitmentsAxis__custom--ExchangeRateUsedToTranslateBalanceSheetAmountsMember_zaJAKz3Oqkfa" title="Exchange rate translation">0.63</span>, respectively. The average exchange rate used to translate operation amounts from Australian dollars into U.S. dollars was $<span id="xdx_90B_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_c20251231__us-gaap--OtherCommitmentsAxis__custom--ExchangeRateUsedToTranslateOperationAmountsMember_zDlZttesus4j" title="Average exchange rate translation"><span id="xdx_900_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_c20241231__us-gaap--OtherCommitmentsAxis__custom--ExchangeRateUsedToTranslateOperationAmountsMember_zngxbu2Dw1Pd" title="Average exchange rate translation">0.65</span></span> for both the year ended December 31, 2025 and the period October 8, 2024 through December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--DeferredChargesPolicyTextBlock_zHJpwqT7XOBg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DEFERRED OFFERING COSTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company complies with the requirements of ASC 340, <i>Other Assets and Deferred Costs</i>, with regards to offering costs. Prior to the completion of an offering, offering costs are capitalized as non-current other assets in the consolidated balance sheets and consist principally of professional, underwriting and other expenses incurred through the consolidated balance sheet date that are directly related to the Company’s proposed public offering. The deferred offering costs are charged to additional paid-in capital or as a discount to debt, as applicable, upon the completion of an offering or to expense if the offering is not completed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_ecustom--NonControllingInterestsPolicyTextBlock_zvSOZkW1yqA2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NON-CONTROLLING INTERESTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company follows ASC 810, <i>Consolidation</i>, governing the accounting for and reporting of non-controlling interests (“NCI”) in partially owned consolidated subsidiaries and the loss of control of subsidiaries. Certain provisions of this standard indicate, among other things, that NCI be treated as a separate component of equity, not as a liability, that increases and decreases in the parent’s ownership interest that leave control intact be treated as equity transactions rather than step acquisitions or dilution gains or losses, and that losses of a partially-owned subsidiary be allocated to non-controlling interests even when such allocation might result in a deficit balance. The net loss attributed to NCI was separately designated in the accompanying consolidated statements of operations and comprehensive loss. Losses attributable to NCI in a subsidiary may exceed NCI’s interests in the subsidiary’s equity. The excess attributable to NCI is attributed to those interests. NCI shall continue to be attributed their share of losses even if that attribution results in a deficit NCI balance. Net loss attributable to NCI for the years ended December 31, 2025 and 2024 was $<span id="xdx_903_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_pn5n6_di_c20250101__20251231_zfsTluYaXKr1" title="Net loss attributable to non-controlling interests">0.2</span> million and $<span id="xdx_900_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_pn5n6_di_c20240101__20241231_znORW6X61vA8" title="Net loss attributable to non-controlling interests">1.7</span> million, respectively, and all related to discontinued operations, <i>see Note - <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6 - Discontinued Operations</span></i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--EquityMethodInvestmentsPolicy_zHM1dMQBq6vb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INVESTMENTS IN EQUITY METHOD INVESTEE </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 31, 2024, the Company invested in MagicBlocks, Inc. by purchasing, at par value, <span id="xdx_904_eus-gaap--SharesIssued_iI_pn5n6_c20240731__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MagicBlocksIncMember_zy8o21rXCkSj" title="Number of shares issued">4.3</span> million shares, representing an ownership interest of <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20240731__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MagicBlocksIncMember_zd6Mfq3vLhc3" title="Ownership percentage">47.6</span>%. In addition, during the year ended December 31, 2025, the Company invested in two Simple Agreements for Future Equity (“SAFEs”) with MagicBlocks. These SAFEs provide the Company with the right to receive equity in MagicBlocks upon the occurrence of specified future events, such as a qualified financing, change in control, or liquidation, as defined in the Agreements. The Company accounts for its investments in MagicBlocks in accordance with ASC 323, <i>Investments — Equity Method and Joint Ventures</i>. The Company evaluates the investments for any indications of impairment in value on a quarterly basis and as such, none were identified to indicate impairment during the year ended December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_ecustom--DepositsPolicyTextBlock_zKVIMsXBn2Dk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DEPOSITS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deposits are included in other assets and include security deposits for leased office spaces, which are refundable to the Company upon expiration of the lease agreements. In addition, as of December 31, 2025, one lender of a warehouse line of credit requires a $<span id="xdx_906_eus-gaap--Deposits_iI_pn5n6_c20251231_z03SHAmfXd78" title="Deposit">0.2</span> million deposit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_ecustom--MarketingAndAdvertisingCostsPolicyTextBlock_zvRZz5BKMVSk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MARKETING AND ADVERTISING COSTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marketing and advertising costs are expensed as incurred. For the years ended December 31, 2025 and 2024, marketing and advertising expenses were $<span id="xdx_902_eus-gaap--MarketingAndAdvertisingExpense_pn5n6_c20250101__20251231_z36UVCakeXvb" title="Marketing and advertising expenses">3.0</span> million and $<span id="xdx_907_eus-gaap--MarketingAndAdvertisingExpense_pn5n6_c20240101__20241231_z5Qin8c0qaV8" title="Marketing and advertising expenses">0.4</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--CompensationRelatedCostsPolicyTextBlock_z6xBp4zZAeo8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>STOCK-BASED COMPENSATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes as compensation expense all stock-based awards issued to employees. The compensation cost is measured based on the grant-date fair value of the related stock-based awards and is recognized over the service period of stock-based awards, which is generally the same as the vesting period. The fair value of stock options is determined using the Black-Scholes valuation model, which estimates the fair value of each award on the date of grant based on a variety of assumptions including expected stock price volatility, expected terms of the awards, risk-free interest rate, and dividend rates, if applicable. Stock-based awards issued to non-employees are recorded at fair value on the measurement date and recognized over the service periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_842_eus-gaap--IncomeTaxPolicyTextBlock_zxRJXsR4e4be" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INCOME TAXES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for income taxes in accordance with ASC 740, <i>Income Taxes</i>, which requires the recognition of deferred income taxes for differences between the basis of assets and liabilities for financial statement and income tax purposes. The deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates all significant tax positions as required by ASC 740. As of December 31, 2025, the Company does not believe that it has taken any positions that would require the recording of any additional tax liability, nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any penalties and interest assessed by income taxing authorities are included in operating expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The federal and state income tax returns of the Company are subject to examination by the IRS and state taxing authorities, generally for three years after they were filed. Tax years 2022, 2023, and 2024 remain open for potential audit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_ecustom--TroubledDebtRestructuringPolicyTextBlock_z9UiOHJAvXja" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TROUBLED DEBT RESTRUCTURING</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates all modifications to its debt agreements in accordance with ASC 470-60<i>, Debt – Troubled Debt Restructurings by Debtors</i>. A debt restructuring is considered a troubled debt restructuring (“TDR”) if the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Concessions may include, but are not limited to:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reduction in the stated interest rate,</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An extension of the maturity date,</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reduction in the principal amount or accrued interest, or</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A combination of the above.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When a debt restructuring qualifies as a TDR, the Company evaluates whether the restructuring represents a modification or an extinguishment of debt. If the future undiscounted cash flows of the restructured debt are less than the carrying amount of the original debt, a gain is recognized in the period of the restructuring. The restructured debt is subsequently measured based on the revised terms.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--ComprehensiveIncomePolicyPolicyTextBlock_zvNuqJqY0atf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>COMPREHENSIVE INCOME (LOSS)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comprehensive income (loss) includes all changes in equity during a period from non-owner sources and is presented in accordance with the provisions of ASC 220, <i>Comprehensive Income</i>. The Company reports comprehensive income in the consolidated statements of operations and comprehensive income (loss), which includes net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) includes foreign currency translation adjustments, including gains and losses from the translation of the Company’s foreign subsidiary whose functional currency is not the U.S. dollar.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_ecustom--OperatingSegmentsPolicyTextBlock_zLmO7PPhRoad" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPERATING SEGMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the Company’s chief operating decision maker (“CODM”) and relied upon when making decisions regarding resource allocation and assessing performance. When evaluating the Company’s financial performance, the CODM reviews total revenues, total expenses, and expenses by functional classification, using this information to make decisions on a company-wide basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company currently operates in <span id="xdx_90D_eus-gaap--NumberOfReportableSegments_dc_uSegments_c20250101__20251231_znf5f66cbggi" title="Number of reportable segments">three</span> reportable segments. The CODM for the Company is the Chief Executive Officer (the “CEO”). The Company’s CEO reviews operating results on an aggregate basis and manages the Company’s operations as a whole for the purpose of evaluating financial performance and allocating resources. Accordingly, the Company has determined that it has a three-reportable and operating segment structure. The CEO uses aggregate net loss to allocate resources in the annual budgeting and forecasting process and also uses that measure as a basis for evaluating financial performance regularly by comparing actual results with established budgets and forecasts. The measure of segment assets is reported on the consolidated balance sheets as total assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zsN5jA31Kz76" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In September 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-06, <i>Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software</i> (“ASU 2025-06”). The amendments simplify the accounting for internal-use software development costs by removing the existing project stage model and replacing it with a principles-based framework for determining when software development costs should be capitalized. Under the new guidance, capitalization of internal-use software costs begins when (i) management has authorized and committed to funding the software project and (ii) it is probable that the project will be completed and the software will be used to perform its intended function. ASU 2025-06 also incorporates guidance related to website development costs and clarifies the presentation and disclosure requirements for capitalized software development costs. This pronouncement is effective for annual reporting periods beginning after December 15, 2027, including interim periods within those annual periods, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements and related disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, the FASB issued ASU 2025-05, <i>Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets</i>. The amendments in this update provide a practical expedient for entities estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606. The practical expedient allows entities to estimate expected credit losses by assuming that the conditions existing as of the balance sheet date will remain unchanged for the remaining life of current accounts receivable and current contract assets. As a result, entities are not required to incorporate forecasts of future economic conditions when measuring expected credit losses for these short-term financial assets. The guidance is effective for fiscal years beginning after December 15, 2025, including interim periods within those fiscal years, with early adoption permitted. The Company does not expect the adoption of this new guidance to have a material impact on the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, <i>Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)</i>, which requires entities to provide more detailed disaggregation of expenses in the income statement, focusing on the nature of the expenses rather than their function. The new disclosures will require entities to separately present expenses for significant line items, including but not limited to, depreciation, amortization, and employee compensation. Entities will also be required to provide a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, disclose the total amount of selling expenses and, in annual reporting periods, provide a definition of what constitutes selling expenses. This pronouncement is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company does not expect the adoption of this new guidance to have a material impact on the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_z67rRmzfuz25" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RECLASSIFICATION OF PRIOR YEAR PRESENTATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations or cash flows. The assets and liabilities of Nimble Title Holdings, LLC and its subsidiaries (collectively “Nimble”), and Bridgetown Spirits and the spirits segment have been classified as held for sale as of December 31, 2024. The operating results of Nimble, and Bridgetown Spirits and the spirits segment have been classified as discontinued operations during the years ended December 31, 2025 and 2024, respectively, see <i>Note 6 – Discontinued Operations</i>. As a result of the merger, the statement of operations for the year ended December 31, 2024 represents the new structure and retrospectively reclassifies discontinued operations. In addition, the senior secured debentures were reclassed from notes payable to secured credit facilities and stock to be issued related to common stock and Series G preferred stock was reclassed to present separately as of December 31, 2024.</span></p> <p id="xdx_855_zpp9NL2sasm6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zMFdzRy8tUK7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BASIS OF PRESENTATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--ConsolidationPolicyTextBlock_zyWyXe1lPJyb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PRINCIPLES OF CONSOLIDATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated financial statements include the consolidated accounts of the Company and its wholly-owned subsidiaries, Beeline Financial Holdings, Inc., Beeline Title Holdings, Inc. (“Beeline Title Holdings”), Beeline Mortgage Holdings, Inc. (“Beeline Mortgage”), Beeline Labs, Inc., and Beeline Loans Pty Ltd. (“Australian Subsidiary”). Intercompany transactions and balances have been eliminated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline Title Holdings has four subsidiaries, Beeline Title, LLC, Beeline Texas Title, LLC, Beeline Settlement Services, LLC, and Beeline Title Agency, LLC. Beeline Mortgage has one subsidiary, Beeline Loans, Inc. (“Beeline Loans”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--UseOfEstimates_zNIk0tMtEeT2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>USE OF ESTIMATES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preparing financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. Significant estimates and assumptions in these consolidated statements include: the fair value of mortgage loans held for sale, valuation of investments, valuation of accounts receivable, valuation of derivative instruments, valuation of software, valuation of intangible assets, valuation of goodwill, valuation of purchase price in the business combination, valuation of the fair value of the assets acquired and liabilities assumed in the business combination, valuation of lease liabilities and related right of use assets, contingent liability for loan repurchases, and valuation of non-cash equity grants and issuances, including but not limited to stock-based compensation. Actual results and outcomes may differ from management’s estimates and assumptions due to risks and uncertainties.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_z5OBO8x0h6M9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CASH, CASH EQUIVALENTS, AND RESTRICTED CASH</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline considers highly liquid investments purchased with a remaining maturity of 90 days or less at the time of purchase to be cash equivalents. Cash equivalents include money market accounts that are readily convertible into cash.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains certain cash balances that are restricted under warehouse and/or master repurchase agreements, broker margin accounts associated with its derivative instruments and other restrictions. The restricted cash balance as of December 31, 2025 and 2024 was $<span id="xdx_900_eus-gaap--RestrictedCash_iI_pn5n6_c20251231_zJC7raa1iXR" title="Restricted cash">0.1</span> million and $<span id="xdx_909_eus-gaap--RestrictedCash_iI_pn5n6_c20241231_zfrdTbii1Hz7" title="Restricted cash">0.8</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 100000 800000 <p id="xdx_846_ecustom--MortgageLoansHeldForSaleAndGainsOnSaleOfLoansRevenueRecognitionPolicyTextBlock_zXa7Poir4VLh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MORTGAGE LOANS HELD FOR SALE AND GAINS ON SALE OF LOANS REVENUE RECOGNITION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mortgage loans held for sale are carried at fair value under the fair value option in accordance with ASC 825, <i>Financial Instruments</i>, with changes in fair value recorded in gain on sale of loans, net on the consolidated statements of operations. The fair value of mortgage loans held for sale committed to investors is calculated based on the investor commitment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gains and losses from the sale of mortgage loans held for sale are recognized based upon the difference between the sales proceeds and carrying value of the related loans upon sale and are recorded in gain on sale of loans, net on the consolidated statements of operations. Sales proceeds reflect the cash received from investors through the sale of the loan and servicing release premium. Gain on sale of loans, net also includes the unrealized gains and losses associated with the changes in the fair value of mortgage loans held for sale, and the realized and unrealized gains and losses from derivative instruments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mortgage loans held for sale are considered sold when the Company surrenders control over the financial assets. Control is considered to have been surrendered when the transferred assets have been isolated from the Company, beyond the reach of the Company and its creditors; the purchaser obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets; and the Company does not maintain effective control over the transferred assets through either an agreement that both entitles and obligates the Company to repurchase or redeem the transferred assets before their maturity or the ability to unilaterally cause the holder to return specific financial assets. The Company typically considers the above criteria to have been met upon acceptance and receipt of sales proceeds from the purchaser.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mortgage loans sold to investors by the Company, and which met investor underwriting guidelines at the time of sale, may be subject to repurchase in the event of specific default by the borrower or subsequent discovery that underwriting standards were not met. The Company may, upon mutual agreement, indemnify the investor against future losses on such loans. Actual losses incurred are reflected as a reduction in gains on sale of loans, net in the consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since mortgage loans held for sale have maturity dates greater than one year from the balance sheet date but are expected to be sold in a short time frame (less than one year), they are recorded as current assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in the balance of mortgage loans held for sale are included in cash flows from operating activities in the consolidated statements of cash flows in accordance with ASC 230-10-45-21, <i>Statement of Cash Flows</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zkwf388nZvRj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>REVENUE RECOGNITION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Gains on Sale of Loans, Net</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See discussion above under “Mortgage Loans Held for Sale and Gain on Sale of Loans Revenue Recognition” and below under “Derivative Financial Instruments and Revenue Recognition”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Loan Origination Fees and Costs</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan origination fees represent revenue earned from originating mortgage loans. Loan origination fees generally represent flat per-loan fee amounts based on a percentage of the original principal loan balance and are recognized as revenue at the time the mortgage loans are funded since the loans are held for sale. Loan origination costs are charged to operations as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Interest Income</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest income on mortgage loans held for sale is recognized for the period from loan funding to sale based upon the principal balance outstanding and contractual interest rates. Revenue recognition is discontinued when loans become 90 days delinquent, or when, in management’s opinion, the recovery of principal and interest becomes doubtful and the mortgage loans held for sale are put on nonaccrual status. For loans that have been modified, a period of six payments is required before the loan is returned to an accrual basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Interest Expense</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest expense relating to the warehouse lines of credit is included in revenues. Other interest expense is included in other (income)/expense.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Title Fees</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Settlement fees and commissions are earned at loan settlement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other Revenues</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fees received from a marketing partner who is embedded in the Company’s point-of-sale journey for investment property customers. The partner pays Beeline for leads they receive from a customer opting in to use their insurance company for landlord insurance during the application process.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Disaggregation of Revenues</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="margin: 0">The Company disaggregates its revenues as presented in its consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_ecustom--RevenueRecognitionOfDerivativeFinancialInstrumentsPolicy_zBzd5Led5Goa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DERIVATIVE FINANCIAL INSTRUMENTS AND REVENUE RECOGNITION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company holds and issues derivative financial instruments such as interest rate lock commitments (“IRLCs”). IRLCs are subject to price risk primarily related to fluctuations in market interest rates. To hedge the interest rate risk on certain IRLCs, the Company enters into best effort forward sale commitments with investors, whereby certain loans are locked with a borrower and simultaneously committed to an investor at a fixed price. If the best effort IRLC does not fund, the Company has no obligation to fulfill the investor commitment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC 815-25, <i>Derivatives and Hedging</i>, requires that all derivative instruments be recognized as assets or liabilities on the consolidated balance sheets at their fair value. The Company issues IRLCs to originate mortgage loans and the fair value of the IRLCs, adjusted for the probability that a given IRLC will close and fund, is recognized in gain on sale of loans, net on the consolidated statements of operations. Subsequent changes in the fair value of the IRLC are measured at each reporting period within gain on loans, net until the loan is funded. The Company accounts for all derivative instruments as free-standing derivative instruments and does not designate any for hedge accounting.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--TradeAndOtherAccountsReceivableUnbilledReceivablesPolicy_zJWd3jus2M1i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ACCOUNTS RECEIVABLE</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable consists primarily of amounts due from customers for services provided. Accounts receivable are stated at their gross outstanding balance, net of an allowance for credit losses. The allowance for credit losses is based on a combination of factors, including historical loss experience, aging of receivables, specific customer creditworthiness, current economic conditions, and reasonable and supportable forecasts. The Company writes off accounts receivable when they are deemed uncollectible, and any recoveries of previously written-off balances are recorded as a reduction to the provision for credit losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84F_eus-gaap--BusinessCombinationsPolicy_zZemeHGR63ra" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BUSINESS COMBINATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for business combinations in accordance with ASC 805, <i>Business Combinations</i>. Under this guidance, the Company allocates the purchase price of an acquired business to the identifiable assets acquired and liabilities assumed at their estimated fair values as of the acquisition date. The excess of the purchase price over the estimated fair value of net assets acquired is recorded as goodwill.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill represents the excess purchase price over the fair value of the tangible net assets and intangible assets acquired in the business combination. The increases or decreases in the fair value of the Company’s assets and liabilities can result from changes in fair values as of the acquisition date as determined during the one-year measurement period under ASC 805.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--GoodwillAndIntangibleAssetsPolicyTextBlock_zdnRcklmypIb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GOODWILL</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill is the excess of the purchase price over the estimated fair value of identifiable net assets acquired in business combinations. The Company tests goodwill for impairment annually in the fourth quarter, or more frequently when indications of potential impairment exist. The Company monitors the existence of potential impairment indicators throughout the fiscal year. The Company may elect to perform either a qualitative test or a quantitative test to determine if it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value. Fair value reflects the price a market participant would be willing to pay in a potential sale of the reporting unit. If the estimated fair value of the Company exceeds its carrying value, then the Company concludes the goodwill is not impaired. If the carrying value of the Company exceeds its estimated fair value, the Company recognizes an impairment loss in an amount equal to the excess, not to exceed the amount of goodwill. Based on the Company’s impairment analysis, management determined that goodwill was not impaired for the years ended December 31, 2025 and 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_842_eus-gaap--IntangibleAssetsFiniteLivedPolicy_zisaXsWj60Aj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INTANGIBLE ASSETS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for certain finite-lived intangible assets at amortized cost and other certain indefinite-lived intangible assets at cost. Management reviews all intangible assets for probable impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. If there is an indication of impairment, management would prepare an estimate of future cash flows (undiscounted and without interest charges) expected to result from the use of the asset and its eventual disposition. If these estimated cash flows were less than the carrying amount of the asset, an impairment loss would be recognized to write down the asset to its estimated fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_840_eus-gaap--LesseeLeasesPolicyTextBlock_zq1dzeLmQQ7b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>LEASE OBLIGATIONS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="margin: 0; text-align: justify">When the Company enters into lease arrangements, the lease is accounted for under ASC 842, <i>Leases</i>. At the lease commencement date, the Company recognizes a leased ROU asset and corresponding lease liability based on the present value of the lease payments over the lease term. The Company elected not to recognize lease assets and lease liabilities for leases with an initial term of 12 months or less.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zantlva4gFIf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROPERTY AND EQUIPMENT, NET</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, including leasehold improvements and internal-use software, are recorded at cost, and are depreciated or amortized using the straight-line method over the estimated useful lives of the related assets, which range from three<span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__srt--RangeAxis__srt--MinimumMember_zAYAPOVdEGf2" style="display: none" title="Estimated useful lives">3</span> to <span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20251231__srt--RangeAxis__srt--MaximumMember_zWmBhRHueOm8" title="Estimated useful lives">five years</span>. Repair and maintenance costs are expensed as incurred. Leasehold improvements are amortized over the shorter of the lease term or the improvement’s estimated useful life. Depreciation is not recorded on projects-in-process until the project is complete and the associated assets are placed into service or are ready for the intended use. Impairment of property and equipment other than the internal-use software is evaluated under ASC 360, <i>Property, Plant, and Equipment.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under ASC 350-40, <i>Internal-Use Software</i>, the Company capitalizes certain qualifying costs incurred during the application development stage in connection with the development of internal-use software. Costs related to preliminary project activities are expensed as incurred and post-implementation activities will be expensed as incurred. Capitalized software costs are amortized over the useful life of the software, which is <span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CapitalizedSoftwareCostsMember_z3IRYDXlmlBf" title="Property and equipment useful life">five years</span>. Impairment of internal-use software is evaluated under ASC 350-40-35, <i>Subsequent Measurement, </i>on a qualitative basis and if indicators exist, then a quantitative analysis is performed under ASC 360.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> P3Y P5Y P5Y <p id="xdx_84C_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zPCO6fQPvDDa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FAIR VALUE MEASUREMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value is the price that would be received if an asset were sold or the price that would be paid to transfer a liability in an orderly transaction between willing market participants at the measurement date. Required disclosures include classification of fair value measurements within a three-level hierarchy (Level 1, Level 2, and Level 3). Classification of a fair value measurement within the hierarchy is dependent on the classification and significance of the inputs used to determine the fair value measurement. Observable inputs are those that are observed, implied from, or corroborated with externally available market information. Unobservable inputs represent the estimates of market participants’ assumptions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value measurements are classified in the following manner:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1—Valuation is based on quoted prices in active markets for identical assets or liabilities at the measurement date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2—Valuation is based on either observable prices for identical assets or liabilities in inactive markets, observable prices for similar assets or liabilities, or other inputs that are derived directly from, or through correlation to, observable market data at the measurement date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3—Valuation is based on the internal models using assumptions at the measurement date that a market participant would use.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In determining fair value measurement, Beeline uses observable inputs whenever possible. The level of a fair value measurement within the hierarchy is dependent on the lowest level of input that has a significant impact on the measurement as a whole. If quoted market prices are available at the measurement date or are available for similar instruments, such prices are used in the measurements. If observable market data is not available at the measurement date, judgment is required to measure fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a description of measurement techniques for items recorded at fair value on a recurring basis. There were no material items recorded at fair value on a nonrecurring basis as of December 31, 2025 and 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Mortgage loans held for sale</i>: Loans held for sale that are valued using Level 2 measurements derived from observable market data, including market prices of securities backed by similar mortgage loans adjusted for certain factors to approximate the fair value of a whole mortgage loan, including the value attributable to mortgage servicing and credit risk. Loans held for sale for which there is little to no observable trading activity of similar instruments are valued using Level 3 measurements based upon dealer price quotes and internal models.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>IRLCs</i>: The fair value of IRLCs is based on current market prices of securities backed by similar mortgage loans (as determined above under mortgage loans held for sale), net of costs to close the loans, subject to the estimated loan funding probability, or “pull-through factor.” Given the significant and unobservable nature of the pull-through factor, IRLCs are classified as Level 3.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Forward commitments</i>: Beeline’s forward commitments are valued based on quoted prices for similar assets in an active market with inputs that are observable and are classified within Level 2 of the valuation hierarchy. There were no open forward contracts as of December 31, 2025 and 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eus-gaap--DebtPolicyTextBlock_zo8MdG8rMjuf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DEBT DISCOUNT</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s debt instruments are recorded net of issuance costs (debt discount). The resulting debt discount is amortized over the term of the term loan using the straight-line method, which approximates the effective interest method, and the amortization of debt discount is included in interest expense in the consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zKSwoKuDT9f6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>FOREIGN CURRENCY TRANSLATION AND TRANSACTIONS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The reporting currency of the company is the U.S. dollar. Except for Beeline Loans Pty Ltd., the functional currency of the Company is the U.S. dollar. The functional currency of Beeline Loans Pty Ltd. is the Australian dollar. For Beeline Loans Pty Ltd., results of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the exchange rate at the end of the period, and equity is translated at historical exchange rates. As a result, amounts related to assets and liabilities reported on the statements of cash flows may not necessarily agree with the changes in the corresponding balances on the balance sheets. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining comprehensive loss. The translation loss for the year ended December 31, 2025 and the period October 8, 2024 through December 31, 2024 was $<span id="xdx_900_eus-gaap--ForeignCurrencyTransactionGainLossBeforeTax_c20250101__20251231_zSb8xxKzEb7h" title="Foreign currency translation adjustment">14,145</span> and $<span id="xdx_906_eus-gaap--ForeignCurrencyTransactionGainLossBeforeTax_c20241008__20241231_z3NOdRBfrP8l" title="Foreign currency translation adjustment">33,570</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transactions denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing on the transaction dates with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the results of operations as incurred. These transactions were de minimis for the year ended December 31, 2025 and the period October 8, 2024 through December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025 and 2024, the exchange rate used to translate balance sheet amounts from Australian dollars into U.S. dollars was $<span id="xdx_90B_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_c20251231__us-gaap--OtherCommitmentsAxis__custom--ExchangeRateUsedToTranslateBalanceSheetAmountsMember_z9vcTDU5HkZf" title="Exchange rate translation">0.67</span> and $<span id="xdx_90C_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_c20241231__us-gaap--OtherCommitmentsAxis__custom--ExchangeRateUsedToTranslateBalanceSheetAmountsMember_zaJAKz3Oqkfa" title="Exchange rate translation">0.63</span>, respectively. The average exchange rate used to translate operation amounts from Australian dollars into U.S. dollars was $<span id="xdx_90B_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_c20251231__us-gaap--OtherCommitmentsAxis__custom--ExchangeRateUsedToTranslateOperationAmountsMember_zDlZttesus4j" title="Average exchange rate translation"><span id="xdx_900_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_c20241231__us-gaap--OtherCommitmentsAxis__custom--ExchangeRateUsedToTranslateOperationAmountsMember_zngxbu2Dw1Pd" title="Average exchange rate translation">0.65</span></span> for both the year ended December 31, 2025 and the period October 8, 2024 through December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 14145 33570 0.0067 0.0063 0.0065 0.0065 <p id="xdx_84C_eus-gaap--DeferredChargesPolicyTextBlock_zHJpwqT7XOBg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DEFERRED OFFERING COSTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company complies with the requirements of ASC 340, <i>Other Assets and Deferred Costs</i>, with regards to offering costs. Prior to the completion of an offering, offering costs are capitalized as non-current other assets in the consolidated balance sheets and consist principally of professional, underwriting and other expenses incurred through the consolidated balance sheet date that are directly related to the Company’s proposed public offering. The deferred offering costs are charged to additional paid-in capital or as a discount to debt, as applicable, upon the completion of an offering or to expense if the offering is not completed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_ecustom--NonControllingInterestsPolicyTextBlock_zvSOZkW1yqA2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NON-CONTROLLING INTERESTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company follows ASC 810, <i>Consolidation</i>, governing the accounting for and reporting of non-controlling interests (“NCI”) in partially owned consolidated subsidiaries and the loss of control of subsidiaries. Certain provisions of this standard indicate, among other things, that NCI be treated as a separate component of equity, not as a liability, that increases and decreases in the parent’s ownership interest that leave control intact be treated as equity transactions rather than step acquisitions or dilution gains or losses, and that losses of a partially-owned subsidiary be allocated to non-controlling interests even when such allocation might result in a deficit balance. The net loss attributed to NCI was separately designated in the accompanying consolidated statements of operations and comprehensive loss. Losses attributable to NCI in a subsidiary may exceed NCI’s interests in the subsidiary’s equity. The excess attributable to NCI is attributed to those interests. NCI shall continue to be attributed their share of losses even if that attribution results in a deficit NCI balance. Net loss attributable to NCI for the years ended December 31, 2025 and 2024 was $<span id="xdx_903_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_pn5n6_di_c20250101__20251231_zfsTluYaXKr1" title="Net loss attributable to non-controlling interests">0.2</span> million and $<span id="xdx_900_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_pn5n6_di_c20240101__20241231_znORW6X61vA8" title="Net loss attributable to non-controlling interests">1.7</span> million, respectively, and all related to discontinued operations, <i>see Note - <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6 - Discontinued Operations</span></i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> -200000 -1700000 <p id="xdx_841_eus-gaap--EquityMethodInvestmentsPolicy_zHM1dMQBq6vb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INVESTMENTS IN EQUITY METHOD INVESTEE </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 31, 2024, the Company invested in MagicBlocks, Inc. by purchasing, at par value, <span id="xdx_904_eus-gaap--SharesIssued_iI_pn5n6_c20240731__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MagicBlocksIncMember_zy8o21rXCkSj" title="Number of shares issued">4.3</span> million shares, representing an ownership interest of <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20240731__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MagicBlocksIncMember_zd6Mfq3vLhc3" title="Ownership percentage">47.6</span>%. In addition, during the year ended December 31, 2025, the Company invested in two Simple Agreements for Future Equity (“SAFEs”) with MagicBlocks. These SAFEs provide the Company with the right to receive equity in MagicBlocks upon the occurrence of specified future events, such as a qualified financing, change in control, or liquidation, as defined in the Agreements. The Company accounts for its investments in MagicBlocks in accordance with ASC 323, <i>Investments — Equity Method and Joint Ventures</i>. The Company evaluates the investments for any indications of impairment in value on a quarterly basis and as such, none were identified to indicate impairment during the year ended December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 4300000 0.476 <p id="xdx_848_ecustom--DepositsPolicyTextBlock_zKVIMsXBn2Dk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DEPOSITS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deposits are included in other assets and include security deposits for leased office spaces, which are refundable to the Company upon expiration of the lease agreements. In addition, as of December 31, 2025, one lender of a warehouse line of credit requires a $<span id="xdx_906_eus-gaap--Deposits_iI_pn5n6_c20251231_z03SHAmfXd78" title="Deposit">0.2</span> million deposit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 200000 <p id="xdx_840_ecustom--MarketingAndAdvertisingCostsPolicyTextBlock_zvRZz5BKMVSk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MARKETING AND ADVERTISING COSTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marketing and advertising costs are expensed as incurred. For the years ended December 31, 2025 and 2024, marketing and advertising expenses were $<span id="xdx_902_eus-gaap--MarketingAndAdvertisingExpense_pn5n6_c20250101__20251231_z36UVCakeXvb" title="Marketing and advertising expenses">3.0</span> million and $<span id="xdx_907_eus-gaap--MarketingAndAdvertisingExpense_pn5n6_c20240101__20241231_z5Qin8c0qaV8" title="Marketing and advertising expenses">0.4</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 3000000.0 400000 <p id="xdx_844_eus-gaap--CompensationRelatedCostsPolicyTextBlock_z6xBp4zZAeo8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>STOCK-BASED COMPENSATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes as compensation expense all stock-based awards issued to employees. The compensation cost is measured based on the grant-date fair value of the related stock-based awards and is recognized over the service period of stock-based awards, which is generally the same as the vesting period. The fair value of stock options is determined using the Black-Scholes valuation model, which estimates the fair value of each award on the date of grant based on a variety of assumptions including expected stock price volatility, expected terms of the awards, risk-free interest rate, and dividend rates, if applicable. Stock-based awards issued to non-employees are recorded at fair value on the measurement date and recognized over the service periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_842_eus-gaap--IncomeTaxPolicyTextBlock_zxRJXsR4e4be" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INCOME TAXES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for income taxes in accordance with ASC 740, <i>Income Taxes</i>, which requires the recognition of deferred income taxes for differences between the basis of assets and liabilities for financial statement and income tax purposes. The deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates all significant tax positions as required by ASC 740. As of December 31, 2025, the Company does not believe that it has taken any positions that would require the recording of any additional tax liability, nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any penalties and interest assessed by income taxing authorities are included in operating expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The federal and state income tax returns of the Company are subject to examination by the IRS and state taxing authorities, generally for three years after they were filed. Tax years 2022, 2023, and 2024 remain open for potential audit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_ecustom--TroubledDebtRestructuringPolicyTextBlock_z9UiOHJAvXja" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TROUBLED DEBT RESTRUCTURING</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates all modifications to its debt agreements in accordance with ASC 470-60<i>, Debt – Troubled Debt Restructurings by Debtors</i>. A debt restructuring is considered a troubled debt restructuring (“TDR”) if the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Concessions may include, but are not limited to:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reduction in the stated interest rate,</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An extension of the maturity date,</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reduction in the principal amount or accrued interest, or</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A combination of the above.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When a debt restructuring qualifies as a TDR, the Company evaluates whether the restructuring represents a modification or an extinguishment of debt. If the future undiscounted cash flows of the restructured debt are less than the carrying amount of the original debt, a gain is recognized in the period of the restructuring. The restructured debt is subsequently measured based on the revised terms.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--ComprehensiveIncomePolicyPolicyTextBlock_zvNuqJqY0atf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>COMPREHENSIVE INCOME (LOSS)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comprehensive income (loss) includes all changes in equity during a period from non-owner sources and is presented in accordance with the provisions of ASC 220, <i>Comprehensive Income</i>. The Company reports comprehensive income in the consolidated statements of operations and comprehensive income (loss), which includes net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) includes foreign currency translation adjustments, including gains and losses from the translation of the Company’s foreign subsidiary whose functional currency is not the U.S. dollar.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_ecustom--OperatingSegmentsPolicyTextBlock_zLmO7PPhRoad" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPERATING SEGMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the Company’s chief operating decision maker (“CODM”) and relied upon when making decisions regarding resource allocation and assessing performance. When evaluating the Company’s financial performance, the CODM reviews total revenues, total expenses, and expenses by functional classification, using this information to make decisions on a company-wide basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company currently operates in <span id="xdx_90D_eus-gaap--NumberOfReportableSegments_dc_uSegments_c20250101__20251231_znf5f66cbggi" title="Number of reportable segments">three</span> reportable segments. The CODM for the Company is the Chief Executive Officer (the “CEO”). The Company’s CEO reviews operating results on an aggregate basis and manages the Company’s operations as a whole for the purpose of evaluating financial performance and allocating resources. Accordingly, the Company has determined that it has a three-reportable and operating segment structure. The CEO uses aggregate net loss to allocate resources in the annual budgeting and forecasting process and also uses that measure as a basis for evaluating financial performance regularly by comparing actual results with established budgets and forecasts. The measure of segment assets is reported on the consolidated balance sheets as total assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 3 <p id="xdx_84D_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zsN5jA31Kz76" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In September 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-06, <i>Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software</i> (“ASU 2025-06”). The amendments simplify the accounting for internal-use software development costs by removing the existing project stage model and replacing it with a principles-based framework for determining when software development costs should be capitalized. Under the new guidance, capitalization of internal-use software costs begins when (i) management has authorized and committed to funding the software project and (ii) it is probable that the project will be completed and the software will be used to perform its intended function. ASU 2025-06 also incorporates guidance related to website development costs and clarifies the presentation and disclosure requirements for capitalized software development costs. This pronouncement is effective for annual reporting periods beginning after December 15, 2027, including interim periods within those annual periods, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements and related disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, the FASB issued ASU 2025-05, <i>Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets</i>. The amendments in this update provide a practical expedient for entities estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606. The practical expedient allows entities to estimate expected credit losses by assuming that the conditions existing as of the balance sheet date will remain unchanged for the remaining life of current accounts receivable and current contract assets. As a result, entities are not required to incorporate forecasts of future economic conditions when measuring expected credit losses for these short-term financial assets. The guidance is effective for fiscal years beginning after December 15, 2025, including interim periods within those fiscal years, with early adoption permitted. The Company does not expect the adoption of this new guidance to have a material impact on the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, <i>Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)</i>, which requires entities to provide more detailed disaggregation of expenses in the income statement, focusing on the nature of the expenses rather than their function. The new disclosures will require entities to separately present expenses for significant line items, including but not limited to, depreciation, amortization, and employee compensation. Entities will also be required to provide a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, disclose the total amount of selling expenses and, in annual reporting periods, provide a definition of what constitutes selling expenses. This pronouncement is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company does not expect the adoption of this new guidance to have a material impact on the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_z67rRmzfuz25" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RECLASSIFICATION OF PRIOR YEAR PRESENTATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations or cash flows. The assets and liabilities of Nimble Title Holdings, LLC and its subsidiaries (collectively “Nimble”), and Bridgetown Spirits and the spirits segment have been classified as held for sale as of December 31, 2024. The operating results of Nimble, and Bridgetown Spirits and the spirits segment have been classified as discontinued operations during the years ended December 31, 2025 and 2024, respectively, see <i>Note 6 – Discontinued Operations</i>. As a result of the merger, the statement of operations for the year ended December 31, 2024 represents the new structure and retrospectively reclassifies discontinued operations. In addition, the senior secured debentures were reclassed from notes payable to secured credit facilities and stock to be issued related to common stock and Series G preferred stock was reclassed to present separately as of December 31, 2024.</span></p> <p id="xdx_80F_eus-gaap--BusinessCombinationDisclosureTextBlock_zp9dxKienWj7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4. <span id="xdx_821_zhz0BwoaTIE3">MERGER</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 7, 2024, Eastside closed on the Merger with Beeline Financial. The Merger was structured and accounted for as a business combination with Eastside as the acquirer of <span id="xdx_90B_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20241007__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember_zB412I01wZi8" title="Business acquisition, percentage of voting interests acquired">100</span>% of the controlling equity interests of Beeline Financial and subsidiaries. The stockholders of Beeline received <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20241007__20241007__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember_zSi2ilKxT47g" title="Stock issued during period shares acquisitions">69,482,229</span> preferred shares of Series F and <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20241007__20241007__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zxzSSgehH5Hb" title="Stock issued during period shares acquisitions">517,775</span> preferred shares of Series F-1 of Eastside, <i>see Note 18- Stockholders’ Equity</i>. The Company’s consolidated financial statements for the year ended December 31, 2024 include Beeline’s results of operations from October 8, 2024 through December 31, 2024. The Company’s consolidated financial statements reflect the final purchase accounting adjustments in accordance with ASC 805, <i>Business Combinations</i>, whereby the purchase price was allocated to the assets acquired and liabilities assumed based upon their estimated fair values on the acquisition date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The purchase price was valued at $<span id="xdx_903_eus-gaap--PaymentsToAcquireBusinessesGross_pn5n6_c20241007__20241007__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember__us-gaap--StatementClassOfStockAxis__custom--SeriesFAndSeriesF1PreferredStockMember_z82j3LE30p13" title="Purchase price">48.2</span> million based on the estimated fair value of the Series F and Series F-1 preferred stock issued on October 7, 2024. The allocation of the purchase price to the fair value of the assets acquired and liabilities assumed and to goodwill was as follows:</span></p> <p id="xdx_893_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_zcvJVwfswwh4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zk402KSxgPx4" style="display: none">SCHEDULE OF ALLOCATION OF PURCHASE PRICE</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241007__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember_zNfFRfEXPgH" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 7, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_pn3n3_maBCRIAzwlg_zObGPBek3vfa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">167</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_pn3n3_maBCRIAzwlg_zEyc3cmGzWKl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMortgageLoansHeldForSaleNetAtFairValue_iI_pn3n3_maBCRIAzwlg_zRkJBmLpEmD2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Mortgage loans held for sale, net, at fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,242</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsInterestRateLockCommitmentDerivative_iI_pn3n3_maBCRIAzwlg_zoiPpc8kiru5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest rate lock commitment derivative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_iI_pn3n3_maBCRIAzwlg_zE1mebEURKS4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid expenses and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">89</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Goodwill_iI_pn3n3_maBCRIAzwlg_z2xSZSUQtkY2" style="vertical-align: bottom; background-color: White"> <td>Goodwill</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,310</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_pn3n3_maBCRIAzwlg_z66RAtoCggWa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Intangible assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,950</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRightofuseAssets_iI_pn3n3_maBCRIAzwlg_zaNK6sT5FEK7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,406</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn3n3_maBCRIAzwlg_z0YSEsOYC0Ab" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,345</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedEquityMethodInvestment_iI_pn3n3_maBCRIAzwlg_zbN9s00R4HGl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Equity method investment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_iI_pn3n3_maBCRIAzwlg_z2F4JSqOhh39" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other assets, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">127</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesLongTermDebt_iNI_pn3n3_di_msBCRIAzwlg_z4Pn6297jkOl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warehouse line of credit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,067</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_pn3n3_di_msBCRIAzwlg_zBJLdjf5OLKk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,614</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_pn3n3_di_msBCRIAzwlg_zxO7FEsTnLr7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(713</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentPortionOfNotesPayableAndAccruedInterestNetOfDiscount_iNI_pn3n3_di_msBCRIAzwlg_zYYf2kkTJkze" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current portion of notes payable and accrued interest, net of discount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,671</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCapitalLeaseObligation_iNI_pn3n3_di_msBCRIAzwlg_zt1hp2Qzmldl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease liabilities, net of current portion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,603</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther_iNI_pn3n3_di_msBCRIAzwlg_zmEb8ILjFV3k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other noncurrent liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(37</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iTI_pn3n3_mtBCRIAzwlg_zL7mP9fkZt3g" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets acquired, goodwill, and liabilities assumed, net</span></td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">48,221</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zjnKBHHfcDKa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company incurred acquisition related costs of $<span id="xdx_902_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn5n6_c20241231__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember_zh7Je3zwAtKk" title="Acquisition related costs">0.1</span> million during the year ended December 31, 2024 that have been recorded in general and administrative expenses in the consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For income tax purposes, this was a non-taxable merger as it was an all-stock transaction and accordingly goodwill will not be deductible for tax purposes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Pro Forma Financial Information</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--BusinessAcquisitionProFormaInformationTextBlock_zaRermFSidN5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following unaudited pro forma consolidated results of operations for the years ended December 31, 2024 and 2023 assume that the acquisition of Beeline was completed on January 1, 2023 and exclude the Craft C+P business operations that has been classified as discontinued operations:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BB_zTcUFscEkEC9" style="display: none">SCHEDULE OF BUSINESS ACQUISITION, PRO FORMA FINANCIAL INFORMATION</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240101__20241231__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember_z4LrFkRbFMsc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember_zIQIPiX4o0lb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--BusinessAcquisitionsProFormaRevenue_pn3n3_zKCvRzDWLxul" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Pro forma net revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">7,581</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">7,581</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessAcquisitionsProFormaNetIncomeLoss_pn3n3_z0yLbW8F1gk5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Pro forma net losses</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(16,165</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(18,435</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Pro forma basic and diluted net loss per share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_904_eus-gaap--BusinessAcquisitionProFormaEarningsPerShareDiluted_pid_c20240101__20241231__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember_zRMW4sxEQ115" title="Pro forma diluted net loss per share">(69.08</span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_902_eus-gaap--BusinessAcquisitionProFormaEarningsPerShareDiluted_pid_c20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember_zxb0BLu1P6Ic" title="Pro forma diluted net loss per share">(169.13</span></td><td style="text-align: left">)</td></tr> </table> <p id="xdx_8A0_zp79c4B3t1S8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pro forma data does not purport to be indicative of the results that would have been obtained had these events actually occurred at the beginning of the periods presented and is not intended to be a projection of future results.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1 69482229 517775 48200000 <p id="xdx_893_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_zcvJVwfswwh4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zk402KSxgPx4" style="display: none">SCHEDULE OF ALLOCATION OF PURCHASE PRICE</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241007__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember_zNfFRfEXPgH" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 7, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_pn3n3_maBCRIAzwlg_zObGPBek3vfa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">167</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_pn3n3_maBCRIAzwlg_zEyc3cmGzWKl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMortgageLoansHeldForSaleNetAtFairValue_iI_pn3n3_maBCRIAzwlg_zRkJBmLpEmD2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Mortgage loans held for sale, net, at fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,242</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsInterestRateLockCommitmentDerivative_iI_pn3n3_maBCRIAzwlg_zoiPpc8kiru5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest rate lock commitment derivative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_iI_pn3n3_maBCRIAzwlg_zE1mebEURKS4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid expenses and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">89</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--Goodwill_iI_pn3n3_maBCRIAzwlg_z2xSZSUQtkY2" style="vertical-align: bottom; background-color: White"> <td>Goodwill</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,310</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_iI_pn3n3_maBCRIAzwlg_z66RAtoCggWa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Intangible assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,950</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRightofuseAssets_iI_pn3n3_maBCRIAzwlg_zaNK6sT5FEK7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,406</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn3n3_maBCRIAzwlg_z0YSEsOYC0Ab" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,345</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedEquityMethodInvestment_iI_pn3n3_maBCRIAzwlg_zbN9s00R4HGl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Equity method investment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_iI_pn3n3_maBCRIAzwlg_z2F4JSqOhh39" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other assets, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">127</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesLongTermDebt_iNI_pn3n3_di_msBCRIAzwlg_z4Pn6297jkOl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warehouse line of credit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,067</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_pn3n3_di_msBCRIAzwlg_zBJLdjf5OLKk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,614</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_pn3n3_di_msBCRIAzwlg_zxO7FEsTnLr7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(713</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentPortionOfNotesPayableAndAccruedInterestNetOfDiscount_iNI_pn3n3_di_msBCRIAzwlg_zYYf2kkTJkze" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current portion of notes payable and accrued interest, net of discount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,671</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCapitalLeaseObligation_iNI_pn3n3_di_msBCRIAzwlg_zt1hp2Qzmldl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease liabilities, net of current portion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,603</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther_iNI_pn3n3_di_msBCRIAzwlg_zmEb8ILjFV3k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other noncurrent liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(37</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iTI_pn3n3_mtBCRIAzwlg_zL7mP9fkZt3g" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets acquired, goodwill, and liabilities assumed, net</span></td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">48,221</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 167000 91000 7242000 124000 89000 33310000 4950000 1406000 15345000 75000 127000 7067000 1614000 713000 3671000 1603000 37000 48221000 100000 <p id="xdx_895_eus-gaap--BusinessAcquisitionProFormaInformationTextBlock_zaRermFSidN5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following unaudited pro forma consolidated results of operations for the years ended December 31, 2024 and 2023 assume that the acquisition of Beeline was completed on January 1, 2023 and exclude the Craft C+P business operations that has been classified as discontinued operations:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BB_zTcUFscEkEC9" style="display: none">SCHEDULE OF BUSINESS ACQUISITION, PRO FORMA FINANCIAL INFORMATION</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240101__20241231__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember_z4LrFkRbFMsc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember_zIQIPiX4o0lb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--BusinessAcquisitionsProFormaRevenue_pn3n3_zKCvRzDWLxul" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Pro forma net revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">7,581</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">7,581</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessAcquisitionsProFormaNetIncomeLoss_pn3n3_z0yLbW8F1gk5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Pro forma net losses</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(16,165</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(18,435</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Pro forma basic and diluted net loss per share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_904_eus-gaap--BusinessAcquisitionProFormaEarningsPerShareDiluted_pid_c20240101__20241231__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember_zRMW4sxEQ115" title="Pro forma diluted net loss per share">(69.08</span></td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_902_eus-gaap--BusinessAcquisitionProFormaEarningsPerShareDiluted_pid_c20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember_zxb0BLu1P6Ic" title="Pro forma diluted net loss per share">(169.13</span></td><td style="text-align: left">)</td></tr> </table> 7581000 7581000 -16165000 -18435000 -69.08 -169.13 <p id="xdx_80A_eus-gaap--DebtDisclosureTextBlock_zLnNS5RRzWU" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5. <span id="xdx_82C_zjvumq9STnk2">DEBT EXCHANGE AGREEMENT</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 4, 2024, Eastside and its then subsidiary, Craft Canning + Printing, LLC (“Craft C+P”) entered into the Debt Exchange Agreement with The B.A.D. Company, LLC (the “SPV”), Aegis Security Insurance Company (“Aegis”), Bigger, District 2, LDI Investments, LLC (“LDI”), William Esping ((“Esping”), WPE Kids Partners (“WPE”) and Robert Grammen (“Grammen”), a 2024 director of Eastside (collectively the “Investors”). On October 3, 2024, the Investors executed the First Amended and Restated Debt Exchange Agreement (the collectively “Debt Exchange Agreement”). </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent to execution of the Debt Exchange Agreement, Eastside organized Bridgetown Spirits as a subsidiary and assigned to Bridgetown Spirits all of the assets held by Eastside in connection with its spirits. Bridgetown Spirits issued <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pn5n6_c20241003__20241003__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BridgetownSpiritsCorpMember_zE6DNSlkI22l" title="Shares issued">1.0</span> million shares of common stock to Eastside, which represented <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241003__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BridgetownSpiritsCorpMember_zgnzssGM8DAk" title="Equity method investment, ownership percentage">100</span>% ownership.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 7, 2024, a closing was held pursuant to the terms of the Debt Exchange Agreement and the following transactions were completed:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aegis, Bigger, District 2 and LDI transferred to Eastside a total of <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241007__20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--AegisBiggerDistrict2AndLDIMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zVmMPdrqWRsf" title="Shares issued">31,234</span> shares of Eastside’s Series C Preferred Stock and <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241007__20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--AegisBiggerDistrict2AndLDIMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zZyZtJhB097h" title="Shares issued">11,987</span> shares of Eastside’s common stock. The Investors also released Eastside from liability for $<span id="xdx_905_eus-gaap--SecuredDebt_iI_pn5n6_c20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_zKkWGKZtZlFd" title="Senior secured debt">4.1</span> million of senior secured debt and $<span id="xdx_909_eus-gaap--UnsecuredDebt_iI_pn5n6_c20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_zjTZGSRTnTU2" title="Senior unsecured debt">2.5</span> million of unsecured debt. In consideration of their surrender of stock and release of debt, Eastside caused Craft C+P to be merged into a limited liability company owned by the Investors.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eastside issued a total of <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241007__20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--BiggerAndDistrict2Member__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_zBFfm8WAd1Q8" title="Shares issued">255,474</span> shares of Series D Preferred Stock to Bigger and District 2, and Bigger and District 2 released Eastside from liability for $<span id="xdx_90B_eus-gaap--UnsecuredDebt_iI_pn5n6_c20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--BiggerAndDistrict2Member__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_zBHgk1wyjCEi" title="Senior unsecured debt">2.6</span> million of unsecured debt.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eastside issued a total of <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241007__20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--BiggerAndDistrict2Member__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesEPreferredStockMember_zbLos4nPiBI5" title="Shares issued">200,000</span> shares of Series E Preferred Stock to Bigger and District 2, and Bigger and District 2 released Eastside from liability for $<span id="xdx_907_eus-gaap--UnsecuredDebt_iI_pn5n6_c20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--BiggerAndDistrict2Member__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesEPreferredStockMember_zaaHKhsZudPc" title="Senior unsecured debt">2.0</span> million of unsecured debt.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eastside transferred a total of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241007__20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--BiggerDistrict2EspingWPEAndGrammenMember_zsLVxLHgSBf9" title="Shares issued">108,899</span> common shares of Bridgetown Spirits to Bigger, District 2, Esping, WPE and Grammen, and those Investors released Eastside from unsecured debt in the aggregate amount of $<span id="xdx_90D_eus-gaap--UnsecuredDebt_iI_pn5n6_c20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--BiggerDistrict2EspingWPEAndGrammenMember_zzoXsU5ZWyw5" title="Senior unsecured debt">0.9</span> million. The common shares of Bridgetown Spirits represented an initial investment of <span id="xdx_90B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--BiggerDistrict2EspingWPEAndGrammenMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BridgetownSpiritsCorpMember_zHCWfwDhR64j" title="Equity method investment, ownership percentage">10.9</span>% valued at $<span id="xdx_90A_eus-gaap--EquityMethodInvestments_iI_pn5n6_c20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--BiggerDistrict2EspingWPEAndGrammenMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BridgetownSpiritsCorpMember_zbr6XuCe7T09" title="Initial investment value">0.6</span> million.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eastside issued a total of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241007__20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--EspingWPEAndGrammenMember_zSzY3VIKc00j" title="Shares issued">19,000</span> shares of common stock to Esping, WPE and Grammen, and those Investors released Eastside from liability for $<span id="xdx_904_eus-gaap--UnsecuredDebt_iI_pn5n6_c20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--EspingWPEAndGrammenMember_zTnAplmq9Y5i" title="Senior unsecured debt">0.2</span> million of unsecured debt.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with the Debt Exchange Agreement, on November 7, 2024, Eastside transferred a total of <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241107__20241107__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--AegisBiggerDistrict2AndLDIMember_zpV2aFu5a54e" title="Shares issued">361,101</span> common shares of Bridgetown Spirits to Aegis, Bigger, District 2 and LDI, representing an additional <span id="xdx_903_ecustom--AdditonalCommonStockPercentage_iI_pid_dp_uPure_c20241107__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--AegisBiggerDistrict2AndLDIMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BridgetownSpiritsCorpMember_zcfQIXrAtGw9" title="Additonal common stock percentage">36</span>%. In consideration for those shares, those four Investors surrendered to Eastside a total of <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241107__20241107__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--AegisBiggerDistrict2AndLDIMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BridgetownSpiritsCorpMember_zGLw4lPe3k6f" title="Shares issued">58,090</span> shares of Eastside common stock valued at $<span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20241107__20241107__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--AegisBiggerDistrict2AndLDIMember__us-gaap--EquityMethodInvestmentNonconsolidatedInvesteeAxis__custom--BridgetownSpiritsCorpMember_zMB154muUlt6" title="Shares issued value">2.2</span> million, securing a total non-controlling interest of <span id="xdx_90F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241107__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--AegisBiggerDistrict2AndLDIMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BridgetownSpiritsCorpMember_zXxtKfYYhCX5" title="Equity method investment, ownership percentage">47</span>% valued at $<span id="xdx_904_ecustom--NoncontrollingInterest_iI_pn5n6_c20241107__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--AegisBiggerDistrict2AndLDIMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BridgetownSpiritsCorpMember_ze4OhQoVClY7" title="Non-controlling interest">2.8</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon completion of the transaction contemplated by the Debt Exchange Agreement, Eastside was no longer involved in the business of digital printing and mobile canning, and owned <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20241107__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--BiggerDistrict2EspingWPEAndGrammenMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BridgetownSpiritsCorpMember_zHDv7GTPpbh2" title="Equity method investment, ownership percentage">53</span>% of the common stock of Bridgetown Spirits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective on the completion of the Debt Exchange Agreement, all liabilities including accrued and unpaid interest due to the Investors were released.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounted for the asset and equity transfers associated with the various transactions described above at fair value in accordance with ASC 470-60. As a result, the Company recognized a gain on the transfer of assets of $<span id="xdx_90D_eus-gaap--TroubledDebtRestructuringDebtorCurrentPeriodGainLossOnTransferOfAssetsNetOfTax_pp0p0_c20241107__20241107__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember_znSIFxHwSVik" title="Gain on transfer of assets">4,271</span> and a gain of $<span id="xdx_90A_eus-gaap--GainsLossesOnRestructuringOfDebt_pn5n6_c20241107__20241107__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember_zwLYUVu1wptg" title="Gain on restructuring of debt">4.5</span> million on TDR in 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Letter Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 27, 2024, the Company signed a Letter Agreement concerning amounts due and owing to a legal firm that provided the Company services under an engagement letter predating 2021. In anticipation of closing the Merger, the legal firm released the Company from prior invoiced amounts billed for services, late fees and adjustments of $<span id="xdx_904_eus-gaap--OtherCostAndExpenseOperating_pn5n6_c20240927__20240927_zWESYAQ7BHI3" title="Fees and expenses">0.6</span> million upon the closing of the Merger and Debt Exchange Agreement, and for payment of $<span id="xdx_904_eus-gaap--PaymentsForMergerRelatedCosts_pn5n6_c20240927__20240927_zj6ShqFnzsAk" title="Payments for merger related costs">0.1</span> million before October 7, 2024. The Company recorded $<span id="xdx_90C_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn5n6_c20240101__20241231_zI2kG11TH5Ij" title="Gain on extinguishment of debt">0.6</span> million to gain on extinguishment of debt in the consolidated statements of operations and comprehensive loss for the year ended December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1000000.0 1 31234 11987 4100000 2500000 255474 2600000 200000 2000000.0 108899 900000 0.109 600000 19000 200000 361101 0.36 58090 2200000 0.47 2800000 0.53 4271 4500000 600000 100000 600000 <p id="xdx_809_eus-gaap--DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_zheHkQm82U6i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6. <span id="xdx_821_zSr3mwwAXvW3">DISCONTINUED OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company reports discontinued operations by applying the following criteria in accordance with ASC 205-20, <i>Presentation of Financial Statements – Discontinued Operations</i>: (1) Component of an entity; (2) Held for sale criteria; and (3) Strategic shift.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Craft C+P</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The operating results of Craft C+P have been classified as discontinued operations during the year ended December 31, 2024. The consolidated financial statements for the prior periods have been adjusted to reflect comparable information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock_gL3SODGIDOISB-DFHAQ_z3FxyIOaBHQd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income and expense related to Craft C+P were as follows for the year ended December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_z4iICwCOVpsf" style="display: none">SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CraftCPMember_zWIonp6MlHOk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_ecustom--DisposalGroupIncludingDiscontinuedOperationSales_pn3n3_maDGIDOzAR3_zm89yAhcw5Ge" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Sales</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,903</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DisposalGroupIncludingDiscontinuedOperationCustomerProgramsAndExciseTaxes_pn3n3_msDGIDOzAR3_zcysFcG7DjSg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less customer programs and excise taxes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">120</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DisposalGroupIncludingDiscontinuedOperationRevenue_iT_pn3n3_mtDGIDOzAR3_maDGIDOzYMW_zLvAxbzox1m6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Net sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,783</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold_pn3n3_msDGIDOzYMW_z5ltUpOE8dn4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; padding-bottom: 1pt">Cost of sales</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,510</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss_iT_pn3n3_mtDGIDOzYMW_maDOLFOz49q_zsqRdL9fWCYb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Gross profit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">273</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DisposalGroupIncludingDiscontinuedOperationOperatingExpenseAbstract_iB_pn3n3_zjANtEGB4hD6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Operating expenses:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DisposalGroupIncludingDiscontinuedOperationSalesAndMarketingExpenses_i01_pn3n3_maDGIDOz6JH_zGYmiA9VWAXc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Sales and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense_i01_pn3n3_maDGIDOz6JH_zeIOmxKWofFb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,436</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DisposalGroupIncludingDiscontinuedOperationGainOnDisposalOfPropertyAndEquipment_i01_pn3n3_maDGIDOz6JH_zXpFuFgkqy95" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Gain on disposal of property and equipment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(195</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--DisposalGroupIncludingDiscontinuedOperationOperatingExpense_i01T_pn3n3_mtDGIDOz6JH_msDOLFOz49q_zIg0dwnEbYi2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,286</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DiscontinuedOperationLossFromOperationsFromDiscontinuedOperationBeforeIncomeTax_iT_pn3n3_mtDOLFOz49q_zKOwJRSAyGTc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Loss from operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,013</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DisposalGroupIncludingDiscontinuedOperationOtherIncome_iN_pn3n3_di_zFsVKnezBaJ7" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Other income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax_iT_pn3n3_maILFDOz6LA_zDVz9jOwyASe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss from discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,009</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation_iN_di_msILFDOz6LA_zORlqymB3KC2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Loss from disposal of discontinued operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,829</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--IncomeLossFromDiscontinuedOperationsNetOfTax_iT_pn3n3_mtILFDOz6LA_zzxszbv94an1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(6,838</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> <p id="xdx_8A1_zEHsxT3rfbCa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bridgetown Spirits</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 25, 2025, the Company entered into a Debt Satisfaction Agreement (the “Debt Satisfaction Agreement”) with Bridgetown Spirits and three individuals (the “Buyers”) including Geoffrey Gwin, the President of Bridgetown Spirits, pursuant to which the Company transferred to the Buyers all <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--DebtSatisfactionAgreementMember_znFHu1O0iiLa" title="Number of shares transferred to the buyers">530,000</span> shares of its Bridgetown Spirits common stock held by the Company in exchange for the satisfaction of outstanding amounts payable by the Company to the Buyers totaling $<span id="xdx_90B_ecustom--ValueOfDebtExchanged_pn5n6_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--DebtSatisfactionAgreementMember_zE3otAUTu9Mf" title="Value of debt exchanged">0.4</span> million As a result of the foregoing, Bridgetown Spirits is no longer a subsidiary of the Company. The Company recorded a $<span id="xdx_908_eus-gaap--GainsLossesOnExtinguishmentOfDebt_iN_pn5n6_di_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--DebtSatisfactionAgreementMember_zKZ3Ky0Pldrh" title="Loss on extinguishment of debt">0.7</span> million loss on extinguishment of debt in the consolidated statements of operations and comprehensive loss for the year ended December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the Debt Satisfaction Agreement, Bridgetown Spirits issued a Senior Secured Original Issue Discount Promissory Note and Security Agreement (the “Note”) in the principal amount of $<span id="xdx_90F_eus-gaap--NotesPayable_iI_pn5n6_c20250725__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredOriginalIssueDiscountPromissoryNoteMember_z5Nf8cdBPxa5" title="Principal amount of notes payable">0.1</span> million payable to the Company with an original issue discount of $<span id="xdx_90B_ecustom--NotesPayableOriginalIssueDiscount_iI_pp0p0_c20250725__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredOriginalIssueDiscountPromissoryNoteMember_z1bwbwLuQ1Ai" title="Original issue discount">25,000</span>. The Note is receivable as follows: (i) $<span id="xdx_90E_ecustom--NotesReceivables_iI_pp0p0_c20250725__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredOriginalIssueDiscountPromissoryNoteMember__us-gaap--AwardDateAxis__custom--AprilTwentyFourTwoThousandTwentySixMember_z4fZJOsBdyy8" title="Note receivables">50,000</span> is receivable on April 24, 2026, and the remaining $<span id="xdx_907_ecustom--RemainingNotesReceivables_iI_pp0p0_c20250725__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredOriginalIssueDiscountPromissoryNoteMember__us-gaap--AwardDateAxis__custom--JulyTwentyFiveTwoThousandTwentySixMember_z3FM0Xm0w3Xg" title="Remaining notes receivables">50,000</span> is receivable on July 25, 2026. The Note is secured by the assets of Bridgetown Spirits. The Note is included in prepaid expenses and other current assets on the consolidated balance sheet as of December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The assets and liabilities of Bridgetown Spirits have been classified as held for sale as of December 31, 2024. The operating results of Bridgetown Spirits and the spirits segment have been classified as discontinued operations during the years ended December 31, 2025 and 2024. The consolidated financial statements for the prior periods have been adjusted to reflect comparable information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <div id="xdx_C00_gL3SODGIDOISB-DFHAQ_zqsJq4Qvngqk"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets and liabilities related to Bridgetown Spirits were as follows as of December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_303_134_pn3n3_zIjtGPyrTtd4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS (Details)"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CraftCPMember_zNFTjKvCMWD" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract_iB_pn3n3_zk5Rl9S77KKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrentAbstract_i01B_pn3n3_ztHhqK4nZlUb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Current assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_i02I_pn3n3_maAODGIz3BM_zVW1e3YJSz2d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 80%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">310</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DisposalGroupIncludingDiscontinuedOperationInventoryCurrent_i02I_pn3n3_maAODGIz3BM_zTNAerNiT0w3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Inventories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,493</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssetsCurrent_i02I_pn3n3_maAODGIz3BM_zSUGgcJIwGd5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Prepaid expenses and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet_i02I_pn3n3_maAODGIz3BM_z1XLEgTYw6K7" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accounts receivables, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">134</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent_i02TI_pn3n3_maAODGIzUPU_mtAODGIz3BM_zx6rpx9auOIh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Current assets of discontinued operations held for sale</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,012</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DisposalGroupIncludingDiscontinuedOperationIntangibleAssetsNoncurrent_i01I_pn3n3_maAODGIzUPU_zKNh0xqFvnO" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible assets, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">822</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DisposalGroupIncludingDiscontinuedOperationRightofuseAssets_i01I_pn3n3_maAODGIzUPU_zArSgS8z6HL4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNoncurrent_i01I_pn3n3_maAODGIzUPU_zGGdeziuTETg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">95</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentAssets_i01I_pn3n3_maAODGIzUPU_zVlY6BJ1SY2l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other assets, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">180</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperation_i01TI_pn3n3_mtAODGIzUPU_z5aN0jEsIfQg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total Assets</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">3,481</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract_iB_pn3n3_zsJFzJi5Mdke" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrentAbstract_iB_pn3n3_zMvgsiOBTxWe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent_i01I_pn3n3_maLODGIzwd5_zPYMVzE07Fjl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accounts payable</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">136</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DisposalGroupIncludingDiscontinuedOperationAccruedLiabilitiesCurrent_i02I_pn3n3_maLODGIzwd5_zl00rhTpf5T2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">170</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--DisposalGroupIncludingDiscontinuedOperationCurrentPortionOfLeaseLiabilities_i02I_pn3n3_maLODGIzwd5_zpRMVjlbLQhh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Current portion of lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">186</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent_i02TI_pn3n3_mtLODGIzwd5_maLODGIzq3y_zn9z3xCmRxKc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">492</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DisposalGroupIncludingDiscontinuedOperationLeaseLiabilitiesNetOfCurrentPortion_i01I_pn3n3_maLODGIzq3y_z6tBdo6CsaEh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Lease liabilities, net of current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">163</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_i01TI_pn3n3_mtLODGIzq3y_z9roA41oqdp3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">655</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income and expense related to Bridgetown Spirits and the spirits segment were as follows for the years ended December 31, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CraftCPMember_zB6EgD5HymF3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CraftCPMember_zRTfCVmx5vB3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">(Dollars in thousands)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zjVijXi7fnE6" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Net sales, spirits</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">1,143</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">2,577</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--CostOfGoodsAndServicesSold_pn3n3_z4PfJFlSuiS2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cost of sales, spirits (inclusive of depreciation)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">956</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,126</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--SalariesAndBenefits_pn3n3_zcYyK38SJnsj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Salaries and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">348</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">559</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zStRhfECZWmh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">286</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">375</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherGeneralExpense_pn3n3_zgej3bpZLRKb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1811">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AssetImpairmentCharges_pn3n3_zCQtn9zb9q5f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Impairment loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1814">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,356</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingExpenses_pn3n3_zvyEtVK3Ypj2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,590</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,417</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingIncomeLoss_pn3n3_z8ujGJnOUX6d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(447</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,840</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationOtherIncome_pn3n3_zKdVXJDcchE7" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">995</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1824">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax_pn3n3_zV5O9T6NMyj8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss) from discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">548</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,840</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--DeconsolidationLoss_pn3n3_zYPwaezNZ8xk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Loss from disposal of discontinued operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,293</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1830">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--NetIncomeLoss_pn3n3_zp0ob0KHa9ja" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(745</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(3,840</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> </div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There was a <span id="xdx_90E_ecustom--NonControllingInterestPercentage_pid_dp_uPure_c20250101__20251231_z4BYyePfhjRc" title="Non controlling interest percentage">47</span>% non-controlling interest in Bridgetown Spirits prior to the disposal date. The net income (loss) attributable to non-controlling interests in the consolidated statements of operations related to Bridgetown Spirits for the years ended December 31, 2025 and 2024 was $<span id="xdx_90A_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_pn5n6_c20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CraftCPMember_zpUOKInwGzH6" title="Net loss">0.2</span> million and $<span id="xdx_90D_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_pn5n6_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CraftCPMember_zGxMpCxbB6d8" title="Net loss">(1.7)</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Nimble Title Holdings</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 17, 2025, the Company and minority partners of Nimble entered into a Dissolution Agreement, whereby the relationships contemplated by the LLC Agreement were terminated and Nimble was subsequently dissolved on November 25, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The assets and liabilities of Nimble have been classified as held for sale as of December 31, 2024. The operating results of Nimble have been classified as discontinued operations during the years ended December 31, 2025 and 2024. The consolidated financial statements for the prior periods have been adjusted to reflect comparable information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <div id="xdx_C0C_gL3SODGIDOISB-DFHAQ_zVrdwFa1cW7j"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets and liabilities related to Nimble and its subsidiaries were as follows as of December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" id="xdx_302_134_pn3n3_zvT1qIoz5PH9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%" summary="xdx: Disclosure - SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS (Details)"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NimbleTitleHoldingsLLCMember_z1jiKZPQrIJf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract_iB_pn3n3_zaLPsiqEYlag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrentAbstract_i01B_pn3n3_zobvFwpYBdJh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_i02I_pn3n3_maAODGIzd2O_zcTz65r7h2zc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 80%; text-align: left; padding-bottom: 1pt">Cash and cash equivalents</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">1</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent_i02TI_pn3n3_maAODGIzd2O_znOWcYnPP17b" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Current assets of discontinued operations held for sale</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperation_i01TI_pn3n3_mtAODGIzd2O_zWp7MurIlkzg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total Assets</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract_iB_pn3n3_z8g52rSWot7a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrentAbstract_iB_pn3n3_z69hN2IIN4eb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent_i01I_pn3n3_maLODGIz2Qo_zF4Cnk6IGKmb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accounts payable</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DisposalGroupIncludingDiscontinuedOperationAccruedLiabilitiesCurrent_i02I_pn3n3_maLODGIz2Qo_zw0vlWgVp7dk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accrued liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent_i02TI_pn3n3_mtLODGIz2Qo_maLODGIzprw_zARBCCvNgmr8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_i01TI_pn3n3_mtLODGIzprw_z1Rhc2PeEjhe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">21</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income and expense related to Nimble and its subsidiaries were as follows for the year ended December 31, 2025 and the period from October 8, 2024 - December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--NimbleTitleHoldingsLLCMember_zsjXV0iGf3S" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241008__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NimbleTitleHoldingsLLCMember_z8HccDpSArv2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 8, 2024 -<br/> December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--TitleFeesMember_zHpgVjMUTj26" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Title fees</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">160</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">85</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zWblPwTwNzci" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Total net revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">160</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">85</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--SalariesAndBenefits_pn3n3_zNIVvnsKKB8g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Compensation, and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">102</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_zo5NPkXQWAP7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zAoFDH99BP3j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1875">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherGeneralExpense_pn3n3_z1B48yEJTXwl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingExpenses_pn3n3_z0zUE09V9jfa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">127</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">91</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingIncomeLoss_pn3n3_zN2JUqOPiVZc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income (loss) from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--OtherExpenses_iN_pn3n3_di_zqQOzERtHpe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(249</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1888">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax_pn3n3_znwznx5LT3T8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss from discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(216</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--DeconsolidationLoss_pn3n3_z72STg1nlGs6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Income from disposal of discontinued operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">246</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1894">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--NetIncomeLoss_pn3n3_zb80mfdNoPEe" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net income (loss)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">30</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(6</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> </div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_C0F_gL3SODGIDOISB-DFHAQ_ztCnoCJC70Ca"> </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The net loss attributable to non-controlling interests in the consolidated statements of operations related to Nimble for the years ended December 31, 2025 and 2024 was $<span id="xdx_901_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_c20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--NimbleTitleHoldingsLLCMember_zUREualnVQ2j" title="Net income (loss) attributable to noncontrolling interest">0</span> and $<span id="xdx_903_eus-gaap--NetIncomeLossAttributableToNoncontrollingInterest_c20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NimbleTitleHoldingsLLCMember_zAY6q9CR4yb9" title="Net income (loss) attributable to noncontrolling interest">2,679</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock_gL3SODGIDOISB-DFHAQ_z3FxyIOaBHQd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income and expense related to Craft C+P were as follows for the year ended December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_z4iICwCOVpsf" style="display: none">SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CraftCPMember_zWIonp6MlHOk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_ecustom--DisposalGroupIncludingDiscontinuedOperationSales_pn3n3_maDGIDOzAR3_zm89yAhcw5Ge" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Sales</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,903</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DisposalGroupIncludingDiscontinuedOperationCustomerProgramsAndExciseTaxes_pn3n3_msDGIDOzAR3_zcysFcG7DjSg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less customer programs and excise taxes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">120</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DisposalGroupIncludingDiscontinuedOperationRevenue_iT_pn3n3_mtDGIDOzAR3_maDGIDOzYMW_zLvAxbzox1m6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Net sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,783</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold_pn3n3_msDGIDOzYMW_z5ltUpOE8dn4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; padding-bottom: 1pt">Cost of sales</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,510</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss_iT_pn3n3_mtDGIDOzYMW_maDOLFOz49q_zsqRdL9fWCYb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Gross profit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">273</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DisposalGroupIncludingDiscontinuedOperationOperatingExpenseAbstract_iB_pn3n3_zjANtEGB4hD6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Operating expenses:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DisposalGroupIncludingDiscontinuedOperationSalesAndMarketingExpenses_i01_pn3n3_maDGIDOz6JH_zGYmiA9VWAXc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Sales and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense_i01_pn3n3_maDGIDOz6JH_zeIOmxKWofFb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,436</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DisposalGroupIncludingDiscontinuedOperationGainOnDisposalOfPropertyAndEquipment_i01_pn3n3_maDGIDOz6JH_zXpFuFgkqy95" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Gain on disposal of property and equipment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(195</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--DisposalGroupIncludingDiscontinuedOperationOperatingExpense_i01T_pn3n3_mtDGIDOz6JH_msDOLFOz49q_zIg0dwnEbYi2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,286</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DiscontinuedOperationLossFromOperationsFromDiscontinuedOperationBeforeIncomeTax_iT_pn3n3_mtDOLFOz49q_zKOwJRSAyGTc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Loss from operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,013</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DisposalGroupIncludingDiscontinuedOperationOtherIncome_iN_pn3n3_di_zFsVKnezBaJ7" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Other income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax_iT_pn3n3_maILFDOz6LA_zDVz9jOwyASe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss from discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,009</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation_iN_di_msILFDOz6LA_zORlqymB3KC2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Loss from disposal of discontinued operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,829</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--IncomeLossFromDiscontinuedOperationsNetOfTax_iT_pn3n3_mtILFDOz6LA_zzxszbv94an1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(6,838</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets and liabilities related to Bridgetown Spirits were as follows as of December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_303_134_pn3n3_zIjtGPyrTtd4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS (Details)"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CraftCPMember_zNFTjKvCMWD" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract_iB_pn3n3_zk5Rl9S77KKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrentAbstract_i01B_pn3n3_ztHhqK4nZlUb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Current assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_i02I_pn3n3_maAODGIz3BM_zVW1e3YJSz2d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 80%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">310</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DisposalGroupIncludingDiscontinuedOperationInventoryCurrent_i02I_pn3n3_maAODGIz3BM_zTNAerNiT0w3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Inventories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,493</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssetsCurrent_i02I_pn3n3_maAODGIz3BM_zSUGgcJIwGd5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Prepaid expenses and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet_i02I_pn3n3_maAODGIz3BM_z1XLEgTYw6K7" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accounts receivables, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">134</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent_i02TI_pn3n3_maAODGIzUPU_mtAODGIz3BM_zx6rpx9auOIh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Current assets of discontinued operations held for sale</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,012</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DisposalGroupIncludingDiscontinuedOperationIntangibleAssetsNoncurrent_i01I_pn3n3_maAODGIzUPU_zKNh0xqFvnO" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible assets, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">822</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DisposalGroupIncludingDiscontinuedOperationRightofuseAssets_i01I_pn3n3_maAODGIzUPU_zArSgS8z6HL4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNoncurrent_i01I_pn3n3_maAODGIzUPU_zGGdeziuTETg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">95</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentAssets_i01I_pn3n3_maAODGIzUPU_zVlY6BJ1SY2l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other assets, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">180</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperation_i01TI_pn3n3_mtAODGIzUPU_z5aN0jEsIfQg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total Assets</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">3,481</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract_iB_pn3n3_zsJFzJi5Mdke" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrentAbstract_iB_pn3n3_zMvgsiOBTxWe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent_i01I_pn3n3_maLODGIzwd5_zPYMVzE07Fjl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accounts payable</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">136</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DisposalGroupIncludingDiscontinuedOperationAccruedLiabilitiesCurrent_i02I_pn3n3_maLODGIzwd5_zl00rhTpf5T2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">170</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--DisposalGroupIncludingDiscontinuedOperationCurrentPortionOfLeaseLiabilities_i02I_pn3n3_maLODGIzwd5_zpRMVjlbLQhh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Current portion of lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">186</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent_i02TI_pn3n3_mtLODGIzwd5_maLODGIzq3y_zn9z3xCmRxKc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">492</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DisposalGroupIncludingDiscontinuedOperationLeaseLiabilitiesNetOfCurrentPortion_i01I_pn3n3_maLODGIzq3y_z6tBdo6CsaEh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Lease liabilities, net of current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">163</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_i01TI_pn3n3_mtLODGIzq3y_z9roA41oqdp3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">655</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income and expense related to Bridgetown Spirits and the spirits segment were as follows for the years ended December 31, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--CraftCPMember_zB6EgD5HymF3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--CraftCPMember_zRTfCVmx5vB3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">(Dollars in thousands)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zjVijXi7fnE6" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Net sales, spirits</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">1,143</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">2,577</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--CostOfGoodsAndServicesSold_pn3n3_z4PfJFlSuiS2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cost of sales, spirits (inclusive of depreciation)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">956</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,126</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--SalariesAndBenefits_pn3n3_zcYyK38SJnsj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Salaries and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">348</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">559</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zStRhfECZWmh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">286</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">375</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherGeneralExpense_pn3n3_zgej3bpZLRKb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1811">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AssetImpairmentCharges_pn3n3_zCQtn9zb9q5f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Impairment loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1814">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,356</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingExpenses_pn3n3_zvyEtVK3Ypj2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,590</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,417</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingIncomeLoss_pn3n3_z8ujGJnOUX6d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(447</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,840</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationOtherIncome_pn3n3_zKdVXJDcchE7" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">995</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1824">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax_pn3n3_zV5O9T6NMyj8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss) from discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">548</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,840</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--DeconsolidationLoss_pn3n3_zYPwaezNZ8xk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Loss from disposal of discontinued operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,293</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1830">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--NetIncomeLoss_pn3n3_zp0ob0KHa9ja" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(745</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(3,840</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets and liabilities related to Nimble and its subsidiaries were as follows as of December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" id="xdx_302_134_pn3n3_zvT1qIoz5PH9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%" summary="xdx: Disclosure - SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS (Details)"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NimbleTitleHoldingsLLCMember_z1jiKZPQrIJf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract_iB_pn3n3_zaLPsiqEYlag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrentAbstract_i01B_pn3n3_zobvFwpYBdJh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_i02I_pn3n3_maAODGIzd2O_zcTz65r7h2zc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 80%; text-align: left; padding-bottom: 1pt">Cash and cash equivalents</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">1</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent_i02TI_pn3n3_maAODGIzd2O_znOWcYnPP17b" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Current assets of discontinued operations held for sale</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperation_i01TI_pn3n3_mtAODGIzd2O_zWp7MurIlkzg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total Assets</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract_iB_pn3n3_z8g52rSWot7a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrentAbstract_iB_pn3n3_z69hN2IIN4eb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent_i01I_pn3n3_maLODGIz2Qo_zF4Cnk6IGKmb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accounts payable</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DisposalGroupIncludingDiscontinuedOperationAccruedLiabilitiesCurrent_i02I_pn3n3_maLODGIz2Qo_zw0vlWgVp7dk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accrued liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent_i02TI_pn3n3_mtLODGIz2Qo_maLODGIzprw_zARBCCvNgmr8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_i01TI_pn3n3_mtLODGIzprw_z1Rhc2PeEjhe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">21</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income and expense related to Nimble and its subsidiaries were as follows for the year ended December 31, 2025 and the period from October 8, 2024 - December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--NimbleTitleHoldingsLLCMember_zsjXV0iGf3S" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241008__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--NimbleTitleHoldingsLLCMember_z8HccDpSArv2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 8, 2024 -<br/> December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--TitleFeesMember_zHpgVjMUTj26" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Title fees</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">160</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">85</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zWblPwTwNzci" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Total net revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">160</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">85</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--SalariesAndBenefits_pn3n3_zNIVvnsKKB8g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Compensation, and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">102</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_zo5NPkXQWAP7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zAoFDH99BP3j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1875">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherGeneralExpense_pn3n3_z1B48yEJTXwl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingExpenses_pn3n3_z0zUE09V9jfa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">127</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">91</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingIncomeLoss_pn3n3_zN2JUqOPiVZc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income (loss) from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--OtherExpenses_iN_pn3n3_di_zqQOzERtHpe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(249</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1888">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax_pn3n3_znwznx5LT3T8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss from discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(216</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--DeconsolidationLoss_pn3n3_z72STg1nlGs6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Income from disposal of discontinued operations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">246</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1894">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--NetIncomeLoss_pn3n3_zb80mfdNoPEe" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net income (loss)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">30</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(6</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table>   6903000 120000 6783000 6510000 273000 45000 2436000 -195000 2286000 -2013000 -4000 -2009000 4829000 -6838000 530000 400000 -700000 100000 25000 50000 50000 310000 1493000 75000 134000 2012000 822000 372000 95000 180000 3481000 136000 170000 186000 492000 163000 655000 1143000 2577000 956000 2126000 348000 559000 286000 375000 1000 3356000 1590000 6417000 -447000 -3840000 995000 548000 -3840000 -1293000 -745000 -3840000 0.47 200000 -1700000 1000 1000 1000 7000 14000 21000 21000 160000 85000 160000 85000 102000 71000 7000 5000 4000 18000 11000 127000 91000 33000 -6000 249000 -216000 -6000 246000 30000 -6000 0 2679 <p id="xdx_80C_eus-gaap--SegmentReportingDisclosureTextBlock_zcYkiqs8tANe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7. <span id="xdx_823_zSuz7LaSHBi5">BUSINESS SEGMENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s CODM, the Chief Executive Officer, evaluates how the Company views and measures its performance. ASC 280, <i>Segment Reporting</i> establishes the standards for reporting information about segments in financial statements. After consideration of these criteria, the CODM has determined that there are three reportable segments, consisting of Beeline Loans, Beeline Title Holdings and Corporate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline Loans is an AI-driven fintech mortgage lender that develops proprietary software in the form of major enhancements and new developments in its lending platform, including Beeline’s Chatbot “Bob.” Corporate allocates a portion of compensation and benefits, and general and administrative expenses to Beeline Loans, which is included in the segments’ financial data below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline Title Holdings provides title and loan closing services for Beeline’s mortgage origination business. It is providing similar services with respect to the Company’s BeelineEquity product.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Corporate primarily consists of general corporate expenses, including public company costs, executive compensation, legal and regulatory compliance, and other administrative functions that support the overall business. This segment also includes holding company expenses, such as financing costs, accounting, legal, insurance, investor relations, and strategic corporate initiatives that are not directly attributable to any operating segment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company measures segment performance to allocate resources primarily based on revenues of Beeline Loans and Beeline Title Holdings and the general and administrative costs related to corporate. Total asset information by segment is not provided to, or reviewed by, the CODM as it is not used to make strategic decisions, allocate resources or assess performance. The accounting policies of the segments are the same as those described for the Company in <i>Note 3 - Summary of Significant Accounting Policies</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zvXXH2u6T2T1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Segment information was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_zhOLAuc2H738" style="display: none">SCHEDULE OF SEGMENT INFORMATION</span></span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><b>Beeline Loans</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--BeelineMember_zOxvjILrUOS4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20241008__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--BeelineMember_zgx2f2cCNOj9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 8, 2024-<br/> December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--GainOnSaleOfLoanMember_zsbr0hxt11j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Gain on sale of loans, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,384</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">757</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--LoanOriginationFeesMember_zaOOWgE8Gc7g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loan origination fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,019</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">214</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--InterestIncomeAbstract_iB_pn3n3_zeSRVotbZRRb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest income (expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--InterestIncomeOnRevenues_hsrt--ProductOrServiceAxis__custom--InterestIncomesMember_maIIEzIWa_zgs1xWZJ5scf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Interest income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">406</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--InterestExpenseOnRevenues_iN_di_hsrt--ProductOrServiceAxis__custom--InterestExpensesMember_msIIEzIWa_zS3HFJKbD0qb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Interest expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(432</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(141</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_ecustom--InterestIncomeExpenses_hsrt--ProductOrServiceAxis__custom--InterestIncomeNetMember_mtIIEzIWa_maRz0ri_zlAGny8icDU8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest income (expense), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(55</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--OtherRevenuesMember_zsDnZH7cOcf2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other revenues</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zbVdzTt4JKXi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Total net revenues</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,391</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">918</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--SalariesAndBenefits_pn3n3_zaNQwhXBb213" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Compensation, commissions and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,660</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,012</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_zNeyoPlrbZVg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">874</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">253</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DepreciationAndAmortization_pn3n3_z9Y8S223N1l6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,216</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">736</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zsE2udNEjAai" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,671</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">409</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherGeneralExpense_pn3n3_zW4e04Z3rOZ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,130</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">422</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingExpenses_pn3n3_zL1lyWW1Nj8f" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">15,551</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,832</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingIncomeLoss_pn3n3_zXpYGD4MDQ8b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,160</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,914</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--InterestExpenseNonoperating_iN_pn3n3_di_zdHWLJzIulLk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn3n3_zYKkUnYBjhN2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Gain on extinguishment of debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1956">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NonoperatingIncomeExpense_pn3n3_zSZ5zu2MTr3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other income (expense), net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(83</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1959">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLoss_pn3n3_zMsaKVS26M4a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net loss from continuing operations</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(9,245</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(1,925</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Beeline Title Holdings</td><td> </td> <td colspan="2" id="xdx_49B_20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--BeelineTitleHoldingsMember_zWHp5Qb9VKY7"> </td><td> </td><td> </td> <td colspan="2" id="xdx_490_20241008__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--BeelineTitleHoldingsMember_zAk8ZU54vKwa"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 8, 2024-<br/> December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--TitleFeesMember_zvlndqwyVwDf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Title fees</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">1,379</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">192</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zZjuCI3lm1yj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Total net revenues</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,379</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">192</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--SalariesAndBenefits_pn3n3_zaVJ8rjRnQgi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Compensation and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,244</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">197</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_zv9GbqGpNUQ4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">192</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_z3X4yX4166el" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherGeneralExpense_pn3n3_zXBMI8OncMDb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">509</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingExpenses_pn3n3_zmb7ifwOpTNd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,069</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">255</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingIncomeLoss_pn3n3_zwKb1P1tomvb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(690</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(63</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--NonoperatingIncomeExpense_pn3n3_zCWduJX7XRG1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Other income (expense), net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1989">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLoss_pn3n3_zAa5EZshHwC8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net loss from continuing operations</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(692</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(63</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zeYnVOJWIfM7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zzPHl653Vweg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">Corporate</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_ecustom--SalariesAndBenefits_pn3n3_zOFrE1BWFJYh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Compensation and benefits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,540</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,312</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_zcFyVihdTIZe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,429</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,804</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DepreciationAndAmortization_pn3n3_zDTolEw5lGa6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zRC93i4qc2Rh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">205</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherGeneralExpense_pn3n3_z5qd6pyslua4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">417</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">58</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingExpenses_pn3n3_zDAbjbm6hCOk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,691</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,207</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InvestmentIncomeInterest_iN_pn3n3_di_z5c6Io0Z4Ufk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Interest income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2012">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InterestExpenseNonoperating_iN_pn3n3_di_zOX7XIsGympa" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,231</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,225</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--GainsLossesOnExtinguishmentOfDebt_i02N_di_zczfaQjKX1D2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Gain (loss) on extinguishment of debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(644</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">591</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--GainLossesOnTroubledDebtRestructuring_i02N_di_z4M4wATuk1Yc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Gain on troubled debt restructuring</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2021">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,483</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IncomeLossFromEquityMethodInvestments_i02N_di_z3RBsiSlJC2c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Loss on equity method investment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(266</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(58</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--NonoperatingIncomeExpense_pn3n3_zVuYrphKvx7c" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other income (expense), net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">103</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLoss_pn3n3_zZIcZzbFwAMa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net loss from continuing operations</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(12,729</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(404</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_zgWtlN8syth3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Consolidated net loss from continuing operations</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">(22,666</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">(2,392</td><td style="font-weight: bold; text-align: left">)</td></tr> </table> <p id="xdx_8A3_zqa5nvLyGJG5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_896_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zvXXH2u6T2T1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Segment information was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_zhOLAuc2H738" style="display: none">SCHEDULE OF SEGMENT INFORMATION</span></span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><b>Beeline Loans</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--BeelineMember_zOxvjILrUOS4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20241008__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--BeelineMember_zgx2f2cCNOj9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 8, 2024-<br/> December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--GainOnSaleOfLoanMember_zsbr0hxt11j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Gain on sale of loans, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,384</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">757</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--LoanOriginationFeesMember_zaOOWgE8Gc7g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loan origination fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,019</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">214</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--InterestIncomeAbstract_iB_pn3n3_zeSRVotbZRRb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest income (expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--InterestIncomeOnRevenues_hsrt--ProductOrServiceAxis__custom--InterestIncomesMember_maIIEzIWa_zgs1xWZJ5scf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Interest income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">406</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--InterestExpenseOnRevenues_iN_di_hsrt--ProductOrServiceAxis__custom--InterestExpensesMember_msIIEzIWa_zS3HFJKbD0qb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Interest expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(432</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(141</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_ecustom--InterestIncomeExpenses_hsrt--ProductOrServiceAxis__custom--InterestIncomeNetMember_mtIIEzIWa_maRz0ri_zlAGny8icDU8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest income (expense), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(55</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--OtherRevenuesMember_zsDnZH7cOcf2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other revenues</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zbVdzTt4JKXi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Total net revenues</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,391</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">918</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--SalariesAndBenefits_pn3n3_zaNQwhXBb213" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Compensation, commissions and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,660</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,012</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_zNeyoPlrbZVg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">874</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">253</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DepreciationAndAmortization_pn3n3_z9Y8S223N1l6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,216</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">736</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zsE2udNEjAai" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,671</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">409</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherGeneralExpense_pn3n3_zW4e04Z3rOZ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,130</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">422</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingExpenses_pn3n3_zL1lyWW1Nj8f" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">15,551</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,832</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingIncomeLoss_pn3n3_zXpYGD4MDQ8b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,160</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,914</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--InterestExpenseNonoperating_iN_pn3n3_di_zdHWLJzIulLk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn3n3_zYKkUnYBjhN2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Gain on extinguishment of debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1956">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--NonoperatingIncomeExpense_pn3n3_zSZ5zu2MTr3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other income (expense), net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(83</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1959">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLoss_pn3n3_zMsaKVS26M4a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net loss from continuing operations</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(9,245</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(1,925</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Beeline Title Holdings</td><td> </td> <td colspan="2" id="xdx_49B_20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__custom--BeelineTitleHoldingsMember_zWHp5Qb9VKY7"> </td><td> </td><td> </td> <td colspan="2" id="xdx_490_20241008__20241231__us-gaap--StatementBusinessSegmentsAxis__custom--BeelineTitleHoldingsMember_zAk8ZU54vKwa"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 8, 2024-<br/> December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--TitleFeesMember_zvlndqwyVwDf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Title fees</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">1,379</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">192</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zZjuCI3lm1yj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Total net revenues</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,379</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">192</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--SalariesAndBenefits_pn3n3_zaVJ8rjRnQgi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Compensation and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,244</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">197</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_zv9GbqGpNUQ4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">192</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_z3X4yX4166el" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherGeneralExpense_pn3n3_zXBMI8OncMDb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">509</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingExpenses_pn3n3_zmb7ifwOpTNd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,069</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">255</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingIncomeLoss_pn3n3_zwKb1P1tomvb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(690</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(63</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--NonoperatingIncomeExpense_pn3n3_zCWduJX7XRG1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Other income (expense), net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1989">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLoss_pn3n3_zAa5EZshHwC8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net loss from continuing operations</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(692</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(63</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20251231__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zeYnVOJWIfM7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zzPHl653Vweg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">Corporate</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_ecustom--SalariesAndBenefits_pn3n3_zOFrE1BWFJYh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Compensation and benefits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,540</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,312</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_zcFyVihdTIZe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,429</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,804</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DepreciationAndAmortization_pn3n3_zDTolEw5lGa6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zRC93i4qc2Rh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Marketing and advertising</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">205</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherGeneralExpense_pn3n3_z5qd6pyslua4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">417</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">58</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingExpenses_pn3n3_zDAbjbm6hCOk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,691</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,207</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InvestmentIncomeInterest_iN_pn3n3_di_z5c6Io0Z4Ufk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Interest income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2012">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InterestExpenseNonoperating_iN_pn3n3_di_zOX7XIsGympa" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,231</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,225</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--GainsLossesOnExtinguishmentOfDebt_i02N_di_zczfaQjKX1D2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Gain (loss) on extinguishment of debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(644</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">591</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--GainLossesOnTroubledDebtRestructuring_i02N_di_z4M4wATuk1Yc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Gain on troubled debt restructuring</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2021">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,483</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IncomeLossFromEquityMethodInvestments_i02N_di_z3RBsiSlJC2c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Loss on equity method investment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(266</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(58</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--NonoperatingIncomeExpense_pn3n3_zVuYrphKvx7c" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other income (expense), net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">103</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLoss_pn3n3_zZIcZzbFwAMa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net loss from continuing operations</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(12,729</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(404</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_zgWtlN8syth3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Consolidated net loss from continuing operations</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">(22,666</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">(2,392</td><td style="font-weight: bold; text-align: left">)</td></tr> </table> 5384000 757000 1019000 214000 406000 86000 432000 141000 -26000 -55000 14000 2000 6391000 918000 6660000 1012000 874000 253000 3216000 736000 2671000 409000 2130000 422000 15551000 2832000 -9160000 -1914000 36000 11000 34000 -83000 -9245000 -1925000 1379000 192000 1379000 192000 1244000 197000 192000 3000 124000 10000 509000 45000 2069000 255000 -690000 -63000 -2000 -692000 -63000 3540000 1312000 5429000 1804000 100000 22000 205000 11000 417000 58000 9691000 3207000 -4000 2231000 2225000 644000 -591000 -4483000 266000 58000 103000 8000 -12729000 -404000 -22666000 -2392000 <p id="xdx_80C_eus-gaap--FairValueDisclosuresTextBlock_zGooiVE5QA38" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8. <span id="xdx_82D_zlCdGJTExc7e">FAIR VALUE MEASUREMENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_zbilq33o261l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets or liabilities measured at fair value on a recurring basis were as follows as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="display: none"><span id="xdx_8BD_zfBSGPLbaK7c">SCHEDULE OF ASSETS OR LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS</span></span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zRYeRmqDwLSd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zuy72F6FWOcb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z1lbIVQC1UHe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zaeWX9OBN2Bl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zbh21XNbbRH" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zpQRaEmN1X17" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--MortgagesHeldForSaleFairValueDisclosure_iI_pn3n3_zgGmT6TzHoAc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Mortgage loans held for sale</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2040">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">15,072</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2042">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2043">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">6,925</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2045">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InterestRateDerivativesAtFairValueNet_iI_pn3n3_zCoTnj0TlqBh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest rate lock commitment derivative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2047">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2048">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">232</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2050">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2051">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A4_z1bLfbEIIKMj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_znT1Np6Caoql" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A roll forward of the level 3 valuation financial instruments was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B0_zAEdMVk2TNNi" style="display: none">SCHEDULE OF A ROLL FORWARD OF THE LEVEL 3 VALUATION FINANCIAL INSTRUMENTS</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 8, 2024-<br/> December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Balance, beginning of period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_c20250101__20251231_zlXlJL63Je9a" style="width: 16%; text-align: right" title="Balance, beginning of period">18</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_c20241008__20241231_ziunZxEKnkPe" style="width: 16%; text-align: right" title="Balance, beginning of period">124</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value in gain on sale of loans, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_iN_pn3n3_di_c20250101__20251231_z1Ai0FntfD1f" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value in gain on sale of loans, net">214</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_iN_pn3n3_di_c20241008__20241231_zoO7epmTlvrh" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value in gain on sale of loans, net">(106</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Balance, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"><b>$</b></td><td id="xdx_98C_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_c20250101__20251231_zjnqu3nu9QZ2" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance, end of period"><b>232</b></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98B_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_c20241008__20241231_zXoFjGBDOcZe" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Balance, end of period">18</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zRzrLO2Q8PO4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_zbilq33o261l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets or liabilities measured at fair value on a recurring basis were as follows as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="display: none"><span id="xdx_8BD_zfBSGPLbaK7c">SCHEDULE OF ASSETS OR LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS</span></span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zRYeRmqDwLSd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zuy72F6FWOcb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z1lbIVQC1UHe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zaeWX9OBN2Bl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zbh21XNbbRH" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zpQRaEmN1X17" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--MortgagesHeldForSaleFairValueDisclosure_iI_pn3n3_zgGmT6TzHoAc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Mortgage loans held for sale</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2040">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">15,072</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2042">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2043">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">6,925</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2045">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InterestRateDerivativesAtFairValueNet_iI_pn3n3_zCoTnj0TlqBh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest rate lock commitment derivative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2047">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2048">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">232</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2050">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2051">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td></tr> </table> 15072000 6925000 232000 18000 <p id="xdx_891_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_znT1Np6Caoql" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A roll forward of the level 3 valuation financial instruments was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B0_zAEdMVk2TNNi" style="display: none">SCHEDULE OF A ROLL FORWARD OF THE LEVEL 3 VALUATION FINANCIAL INSTRUMENTS</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">October 8, 2024-<br/> December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Balance, beginning of period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_c20250101__20251231_zlXlJL63Je9a" style="width: 16%; text-align: right" title="Balance, beginning of period">18</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_c20241008__20241231_ziunZxEKnkPe" style="width: 16%; text-align: right" title="Balance, beginning of period">124</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value in gain on sale of loans, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_iN_pn3n3_di_c20250101__20251231_z1Ai0FntfD1f" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value in gain on sale of loans, net">214</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_iN_pn3n3_di_c20241008__20241231_zoO7epmTlvrh" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value in gain on sale of loans, net">(106</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Balance, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"><b>$</b></td><td id="xdx_98C_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_c20250101__20251231_zjnqu3nu9QZ2" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance, end of period"><b>232</b></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98B_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_c20241008__20241231_zXoFjGBDOcZe" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Balance, end of period">18</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 18000 124000 -214000 106000 232000 18000 <p id="xdx_809_ecustom--MortgageLoansHeldForSaleTextBlock_zg5gNouqrmEc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>9. <span id="xdx_82F_zCad3bMzpp99">MORTGAGE LOANS HELD FOR SALE</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline sells substantially all of its originated mortgage loans to investors and adjusts adjusted its loan balance to the estimated fair value based on the eventual sales of loans. Mortgage loans held for sale, at fair value, consisted of the following as of December 31:</span></p> <p id="xdx_89D_ecustom--MortgageLoansHeldForSaleTableTextBlock_zWtbM0cxih38" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zfD3q1Udmd42" style="display: none">SCHEDULE OF MORTGAGE LOANS HELD FOR SALE</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Mortgage loans held for sale</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--LoansHeldForSaleFairValueDisclosure_iI_pn3n3_maasdfvb_c20251231_z2RxCocOMvTb" style="width: 16%; text-align: right" title="Mortgage loans held for sale">14,859</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--LoansHeldForSaleFairValueDisclosure_iI_pn3n3_madcdsvf_c20241231_zeB2u4Qhcdc9" style="width: 16%; text-align: right" title="Mortgage loans held for sale">6,878</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net fair value adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--MortgageLoansHeldForSaleNetFairValueAdjustment_iI_pn3n3_maasdfvb_c20251231_zbenHbsQmtx6" style="border-bottom: Black 1pt solid; text-align: right" title="Net fair value adjustment">213</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--MortgageLoansHeldForSaleNetFairValueAdjustment_iI_pn3n3_madcdsvf_c20241231_zgQmVSShWLC5" style="border-bottom: Black 1pt solid; text-align: right" title="Net fair value adjustment">47</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Mortgage loans held for sale, at fair value</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98D_eus-gaap--MortgagesHeldForSaleFairValueDisclosure_iTI_pn3n3_mtasdfvb_c20251231_zD9RAQRM3jr9" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Mortgage loans held for sale, at fair value">15,072</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98D_eus-gaap--MortgagesHeldForSaleFairValueDisclosure_iTI_pn3n3_mtdcdsvf_c20241231_zhEWEJFcZUz6" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Mortgage loans held for sale, at fair value">6,925</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zBU14L5jKeWh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_ecustom--MortgageLoansHeldForSaleTableTextBlock_zWtbM0cxih38" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zfD3q1Udmd42" style="display: none">SCHEDULE OF MORTGAGE LOANS HELD FOR SALE</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Mortgage loans held for sale</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--LoansHeldForSaleFairValueDisclosure_iI_pn3n3_maasdfvb_c20251231_z2RxCocOMvTb" style="width: 16%; text-align: right" title="Mortgage loans held for sale">14,859</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--LoansHeldForSaleFairValueDisclosure_iI_pn3n3_madcdsvf_c20241231_zeB2u4Qhcdc9" style="width: 16%; text-align: right" title="Mortgage loans held for sale">6,878</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net fair value adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--MortgageLoansHeldForSaleNetFairValueAdjustment_iI_pn3n3_maasdfvb_c20251231_zbenHbsQmtx6" style="border-bottom: Black 1pt solid; text-align: right" title="Net fair value adjustment">213</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--MortgageLoansHeldForSaleNetFairValueAdjustment_iI_pn3n3_madcdsvf_c20241231_zgQmVSShWLC5" style="border-bottom: Black 1pt solid; text-align: right" title="Net fair value adjustment">47</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Mortgage loans held for sale, at fair value</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98D_eus-gaap--MortgagesHeldForSaleFairValueDisclosure_iTI_pn3n3_mtasdfvb_c20251231_zD9RAQRM3jr9" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Mortgage loans held for sale, at fair value">15,072</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98D_eus-gaap--MortgagesHeldForSaleFairValueDisclosure_iTI_pn3n3_mtdcdsvf_c20241231_zhEWEJFcZUz6" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Mortgage loans held for sale, at fair value">6,925</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 14859000 6878000 213000 47000 15072000 6925000 <p id="xdx_809_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zpgZgajSIRT" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10. <span id="xdx_82D_zLyO35bIkxU7">PROPERTY AND EQUIPMENT, NET</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--PropertyPlantAndEquipmentTextBlock_zCrhvQ3bEvgb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment consisted of the following as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zWMkWkZrLxpe" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_ztkwqNQneDud" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20241231_zsqonqS1QmQa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_z14BWUOlUnBj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Internal-use software</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,455</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,225</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zrH7SjxNbeBh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and fixtures</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zZ81Sx8VIl3k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">151</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">151</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zCpq4WipP1g6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Computers and hardware</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENz1CM_zKB3RNStUlP1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,683</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,416</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENz1CM_zGhQ3brnlfqh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,973</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(736</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENz1CM_z9JVdlaGERoh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total property and equipment, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">11,710</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">14,680</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zAmCqz4Bdks4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation expense related to property and equipment was $<span id="xdx_907_eus-gaap--Depreciation_pn5n6_c20250101__20251231_zOwJcWmxemXa" title="Depreciation expense"><span id="xdx_904_eus-gaap--Depreciation_pn5n6_c20241008__20241231_zhIKo10fXa8g" title="Depreciation expense">0.1</span></span> million for both the year ended December 31, 2025 and the period October 8, 2024 through December 31, 2024. Amortization expense related to internal-use software was $<span id="xdx_904_eus-gaap--AdjustmentForAmortization_pn5n6_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_zOiGjgTWQgKk" title="Amortization expense">3.1</span> million for the year ended December 31, 2025 and $<span id="xdx_902_eus-gaap--AdjustmentForAmortization_pn5n6_c20241008__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_zliI5SLkhPfk" title="Amortization expense">0.7</span> million for the period October 8, 2024 through December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_ecustom--ScheduleOfInternalUseSoftwareTableTextBlock_zX9G6ie2uUd5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Internal-use software consisted of the following as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zRLEJdIWVxEg" style="display: none">SCHEDULE OF INTERNAL-USE SOFTWARE</span></span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: left">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_z4ulzVqA4cc4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_zaITKU4rdp5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Internal-use software</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,455</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_zHYSHFbY9Df7" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">15,455</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENz1CM_zWoCe25h38Nk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,773</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENz1CM_zYx4j3tEB2fi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total internal-use software</b></span></td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>11,682</b></span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zoV5HfpX8KZ" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_ecustom--ScheduleOfEstimatedFutureAmortizationExpenseInternalUseSoftwareTableTextBlock_zLQM1D9QsDsj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The estimated future amortization expense of internal-use software as of December 31, 2025 was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zUxgI9twK064" style="display: none">SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE OF INTERNAL-USE SOFTWARE</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">(Dollars in thousands)</td><td> </td> <td colspan="2" id="xdx_49C_20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_z1sd1n0zMUv9" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_ecustom--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentDueNextTwelveMonths_iI_maADDAAzdQY_zMhJZTfBEuRg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,098</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentDueYearTwo_iI_maADDAAzdQY_zFzaDR6wF5z5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,098</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentDueYearThree_iI_maADDAAzdQY_zDfN67jy0fHk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,098</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentDueYearFour_iI_maADDAAzdQY_zQjg8R4MkXe6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,388</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentNet_iTI_mtADDAAzdQY_zugMse5erL08" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization expense of internal use software</span></td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">11,682</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zCDFKAhSZehg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline’s internal developers created a new proprietary software and launched it in 2024. The most notable feature of the new software is the integration of Beeline’s Chatbot “Bob”. The Company recorded $<span id="xdx_90E_eus-gaap--PaymentsForSoftware_pn5n6_c20250101__20251231_zrwm2aXNSZL6" title="Purchase of internal use software">0.2</span> million of additional purchases of internal-use software for the year ended December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_896_eus-gaap--PropertyPlantAndEquipmentTextBlock_zCrhvQ3bEvgb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment consisted of the following as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zWMkWkZrLxpe" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_ztkwqNQneDud" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20241231_zsqonqS1QmQa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_z14BWUOlUnBj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Internal-use software</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,455</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,225</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zrH7SjxNbeBh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and fixtures</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zZ81Sx8VIl3k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">151</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">151</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zCpq4WipP1g6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Computers and hardware</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENz1CM_zKB3RNStUlP1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,683</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,416</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENz1CM_zGhQ3brnlfqh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,973</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(736</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENz1CM_z9JVdlaGERoh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total property and equipment, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">11,710</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">14,680</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 15455000 15225000 55000 28000 151000 151000 22000 12000 15683000 15416000 3973000 736000 11710000 14680000 100000 100000 3100000 700000 <p id="xdx_895_ecustom--ScheduleOfInternalUseSoftwareTableTextBlock_zX9G6ie2uUd5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Internal-use software consisted of the following as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zRLEJdIWVxEg" style="display: none">SCHEDULE OF INTERNAL-USE SOFTWARE</span></span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: left">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_z4ulzVqA4cc4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_zaITKU4rdp5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Internal-use software</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,455</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_zHYSHFbY9Df7" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">15,455</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENz1CM_zWoCe25h38Nk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,773</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENz1CM_zYx4j3tEB2fi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total internal-use software</b></span></td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>11,682</b></span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 15455000 15455000 3773000 11682000 <p id="xdx_892_ecustom--ScheduleOfEstimatedFutureAmortizationExpenseInternalUseSoftwareTableTextBlock_zLQM1D9QsDsj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The estimated future amortization expense of internal-use software as of December 31, 2025 was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zUxgI9twK064" style="display: none">SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE OF INTERNAL-USE SOFTWARE</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">(Dollars in thousands)</td><td> </td> <td colspan="2" id="xdx_49C_20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_z1sd1n0zMUv9" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_ecustom--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentDueNextTwelveMonths_iI_maADDAAzdQY_zMhJZTfBEuRg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,098</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentDueYearTwo_iI_maADDAAzdQY_zFzaDR6wF5z5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,098</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentDueYearThree_iI_maADDAAzdQY_zDfN67jy0fHk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,098</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentDueYearFour_iI_maADDAAzdQY_zQjg8R4MkXe6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,388</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentNet_iTI_mtADDAAzdQY_zugMse5erL08" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization expense of internal use software</span></td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">11,682</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 3098000 3098000 3098000 2388000 11682000 200000 <p id="xdx_804_eus-gaap--IntangibleAssetsDisclosureTextBlock_zZ8ErsYjWms7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>11. <span id="xdx_82D_zgmcDp2z9KV6">INTANGIBLE ASSETS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zvUhlTCFMjDa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets consisted of the following as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zilE8UuJzDQj" style="display: none">SCHEDULE OF INTANGIBLE ASSETS</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20251231_zTdqlruMfJpk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20241231_zO1Bn8uAk5rf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_hus-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__custom--BeelineBrandMember_zy2ZM7z2pHi7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beeline brand</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,557</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,557</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerListsMember_z6wEuqEGG1x9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Customer data</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">393</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">393</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_maFLIANzg70_zlzT52HqOqTi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,950</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,950</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_msFLIANzg70_zp1tmObR9Xf7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(121</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(23</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzg70_zJYMtokdDS5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Intangible assets, net </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,829</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,927</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zIRaG4C2idc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Beeline brand has been determined to have an indefinite life and is not amortized. The Company, on an annual basis, tests the indefinite-lived asset for impairment. If the carrying value of an indefinite-lived asset is found to be impaired, then the Company will record an impairment loss and reduce the carrying value of the asset. As of December 31, 2025 and 2024, the Company determined that the Beeline brand was not impaired.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer data that was acquired in the merger has a useful life of <span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dc_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerListsMember_zRw4S7wqF8he" title="Intangible assets useful life">four years</span> and amortization expense was $<span id="xdx_90A_eus-gaap--AdjustmentForAmortization_pn5n6_c20250101__20251231_zrS6YEm0QYMh" title="Amortization expense">0.1</span> million for the year ended December 31, 2025 and $<span id="xdx_90E_eus-gaap--AmortizationOfIntangibleAssets_c20241008__20241231_zONlVqON9dfd" title="Amortization expense">22,714</span> for the period October 8, 2024 through December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zvUhlTCFMjDa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets consisted of the following as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zilE8UuJzDQj" style="display: none">SCHEDULE OF INTANGIBLE ASSETS</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20251231_zTdqlruMfJpk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20241231_zO1Bn8uAk5rf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_hus-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__custom--BeelineBrandMember_zy2ZM7z2pHi7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beeline brand</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,557</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,557</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerListsMember_z6wEuqEGG1x9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Customer data</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">393</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">393</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_maFLIANzg70_zlzT52HqOqTi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,950</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,950</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_msFLIANzg70_zp1tmObR9Xf7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(121</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(23</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzg70_zJYMtokdDS5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Intangible assets, net </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,829</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,927</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 4557000 4557000 393000 393000 4950000 4950000 121000 23000 4829000 4927000 P4Y 100000 22714 <p id="xdx_80E_eus-gaap--EquityMethodInvestmentsDisclosureTextBlock_zKFCt4TAfMd3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12. <span id="xdx_828_zYPUWhfL4Qsa">INVESTMENTS IN EQUITY METHOD INVESTEE</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--EquityMethodInvestmentsTextBlock_zS3kjpjnn16d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s investments in its equity method investee, MagicBlocks, include its equity method investment and its SAFEs on the consolidated balance sheets, which consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zaGb8rRqs6E7" style="display: none">SCHEDULE OF INVESTMENTS IN EQUITY METHOD INVESTEE</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_4BF_us-gaap--EquityMethodInvestmentNonconsolidatedInvesteeAxis_custom--MagicBlocksIncMember_zQnJRfQ7PV92" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td>(Dollars in thousands)</td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_437_c20241008__20241231_eus-gaap--InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_iS_z1fR3MOboIh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Balance, October 8, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">75</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--EquityMethodInvestmentAdvancesConverted_zQ6FBVczyri3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Advances converted to SAFE</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--GainLossOnInvestments_zNPRNt7T4BO7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Loss on equity method investment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(58</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_435_c20250101__20251231_eus-gaap--InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_iS_zQBotvNTPCw6" style="vertical-align: bottom; background-color: White"> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">147</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--EquityMethodSAFEInvestments_zYz9jhCQITHa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">SAFE Investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">267</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--GainLossOnInvestments_z2uID1HYAu7i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Loss on equity method investment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(266</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_436_c20250101__20251231_eus-gaap--InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_iE_zGboUa2nQEd9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">148</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zyvaDKD3T1cj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Intercompany profits and losses resulting from transactions between the Company and MagicBlocks are eliminated with the resulting adjustments recorded to the carrying amount of the investment and the Company’s share of losses of MagicBlocks.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In March 2025, the Company entered into a Master Services Agreement with MagicBlocks for a monthly service fee of $<span id="xdx_901_eus-gaap--CustodyFees_c20250301__20250331__us-gaap--TypeOfArrangementAxis__custom--MasterServicesAgreementMember_zcmlvAzHCup1" title="Service fees">10,000</span>, and was amended on August 27, 2025 to $<span id="xdx_902_eus-gaap--CustodyFees_c20250827__20250827__us-gaap--TypeOfArrangementAxis__custom--MasterServicesAgreementMember_zNH9UFfzxbcb" title="Service fees">20,000</span>, whereby MagicBlocks provides the Company certain services. For the year ended December 31, 2025, the Company paid MagicBlocks $<span id="xdx_904_eus-gaap--PaymentsForFees_pn5n6_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--MasterServicesAgreementMember_zmtI4RSH0YMf" title="Service fees payment">0.1</span> million in service fees related to its Master Services Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--EquityMethodInvestmentsTextBlock_zS3kjpjnn16d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s investments in its equity method investee, MagicBlocks, include its equity method investment and its SAFEs on the consolidated balance sheets, which consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B5_zaGb8rRqs6E7" style="display: none">SCHEDULE OF INVESTMENTS IN EQUITY METHOD INVESTEE</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td id="xdx_4BF_us-gaap--EquityMethodInvestmentNonconsolidatedInvesteeAxis_custom--MagicBlocksIncMember_zQnJRfQ7PV92" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td>(Dollars in thousands)</td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_437_c20241008__20241231_eus-gaap--InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_iS_z1fR3MOboIh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Balance, October 8, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">75</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--EquityMethodInvestmentAdvancesConverted_zQ6FBVczyri3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Advances converted to SAFE</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--GainLossOnInvestments_zNPRNt7T4BO7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Loss on equity method investment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(58</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_435_c20250101__20251231_eus-gaap--InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_iS_zQBotvNTPCw6" style="vertical-align: bottom; background-color: White"> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">147</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--EquityMethodSAFEInvestments_zYz9jhCQITHa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">SAFE Investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">267</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--GainLossOnInvestments_z2uID1HYAu7i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Loss on equity method investment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(266</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_436_c20250101__20251231_eus-gaap--InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_iE_zGboUa2nQEd9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">148</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 75000 130000 -58000 147000 267000 -266000 148000 10000 20000 100000 <p id="xdx_805_ecustom--WarehouseLineOfCreditDisclouserTextBlock_ztbpomw77ROb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>13. <span id="xdx_822_zHwMASql5iC3">WAREHOUSE LINES OF CREDIT</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 21, 2021, Beeline Loans entered into an agreement with a lender for a $<span id="xdx_90E_eus-gaap--LineOfCredit_iI_pn5n6_c20210921_zvulysR7gXHk" title="Line of credit">10.0</span> million line of credit. The line automatically renews for successive one-year terms, unless terminated by Beeline Loans or the lender upon 60 days’ notice. The line was renewed on September 30, 2023 with a reduction in available funding from $<span id="xdx_902_eus-gaap--LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod_pn5n6_c20210930__20210930_zkPUwDNePA1d" title="Available funding amount">10.0</span> million to $<span id="xdx_907_eus-gaap--LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod_pn5n6_c20230101__20230930_zjSV74QCx3nl" title="Available funding amount">5.0</span> million. The line has subsequently been renewed with the latest renewal in October 2025 increasing the available funding to $<span id="xdx_904_eus-gaap--LineOfCreditFacilityAverageOutstandingAmount_pn5n6_c20251001__20251031_zv0m6Xq4mDke" title="Available funding amount">15.0</span> million and subject to annual renewals. The interest rate is the greater of interest on the underlying loan or <span id="xdx_903_eus-gaap--LineOfCreditFacilityInterestRateDuringPeriod_dp_uPure_c20210921__20210921__srt--RangeAxis__srt--MinimumMember_ztaZTqyJsDt4" title="Interest rate percentage">4.25</span>% - <span id="xdx_904_eus-gaap--LineOfCreditFacilityInterestRateDuringPeriod_dp_uPure_c20210921__20210921__srt--RangeAxis__srt--MaximumMember_zgswuNDzbzR8" title="Interest rate percentage">5.50</span>%, depending on how many loans Beeline Loans closes per month. Beeline Loans is required to provide the lender with annual audited financial statements, quarterly unaudited financial statements, monthly interim unaudited financial statements, and any other report submitted by independent accountants in connection with annual, interim or special audit of the books, if requested. Beeline Loans is also subject to loan repurchase provisions as defined in the agreement and certain non-financial covenants. As of December 31, 2025, Beeline Loans was in compliance with the covenants. Beeline Loans grants to the lender a security interest in and to all of Beeline Loans’ right, title, and interest in and to each mortgage loan in which the lender has acquired a warehouse interest. As of December 31, 2025, the outstanding balance of the warehouse line of credit was $<span id="xdx_907_eus-gaap--DebtInstrumentCarryingAmount_iI_pn5n6_c20251231__us-gaap--CreditFacilityAxis__us-gaap--LineOfCreditMember_zHbjMSKd5ipg" title="Line of credit and accrued interest outstanding balance">7.4</span> million and accrued interest was $<span id="xdx_90D_ecustom--AccruedInterestReceivable_iI_c20251231_zOm9YDC6lt05" title="Accrued interest receivable">9,433</span> with interest rates of <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__us-gaap--CreditFacilityAxis__us-gaap--LineOfCreditMember__srt--RangeAxis__srt--MinimumMember_z58KpyTtTnKb" title="Interest rate">4.6</span>%-<span id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__us-gaap--CreditFacilityAxis__us-gaap--LineOfCreditMember__srt--RangeAxis__srt--MaximumMember_zH4NlcGPnePd" title="Interest rate">9.5</span>%. As of December 31, 2024, the warehouse line of credit and accrued interest outstanding balance was $<span id="xdx_90D_eus-gaap--DebtInstrumentCarryingAmount_iI_pn5n6_c20241231__us-gaap--CreditFacilityAxis__us-gaap--LineOfCreditMember_zwSEIfCtxjdc" title="Line of credit and accrued interest outstanding balance">6.1</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 6, 2025, Beeline Loans entered into an agreement with a different lender for a $<span id="xdx_904_eus-gaap--LineOfCredit_iI_pn5n6_c20251006_zoGdwdExzz88" title="Line of credit">5.0</span> million line of credit. The line terminates on October 5, 2026 or such earlier date in accordance with the provisions of the agreement. <span id="xdx_90E_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20251006__20251006_z63aXCM4rNWc" title="Line of credit interest rate description">The interest rate is equal to the SOFR plus 3.00% for Agency Loans and SOFR plus 3.50% plus 0.50% step ups after curtailments with a floor of 3.75% for Non-QM/DSCR Loans.</span> Beeline Loans is required to provide the lender with annual audited financial statements within 90 days after the end of its respective fiscal year, monthly interim unaudited financial statements within 30 days of the end of said month, and an officer’s certificate and production report within 30 days of the end of each month. Beeline Loans is also subject to loan repurchase provisions as defined in the agreement and certain non-financial covenants. As of December 31, 2025, Beeline Loans was in compliance with the covenants. Beeline Loans grants to the lender a security interest in and to all of Beeline Loans’ right, title, and interest in and to each mortgage loan in which the lender has acquired a warehouse interest. As of December 31, 2025, the outstanding balance of the warehouse line of credit was $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20251231__us-gaap--CreditFacilityAxis__us-gaap--LineOfCreditMember_znX8Njx58DCf" title="Line of credit and accrued interest outstanding balance">3.6</span> million and accrued interest was $<span id="xdx_903_ecustom--AccruedInterestReceivableAndOtherCurrentAssets_iI_c20251231_zvAWQ7P0nyD" title="Line of credit accrued interest receivable">6,534</span> with an interest rate of <span id="xdx_905_eus-gaap--LineOfCreditFacilityInterestRateAtPeriodEnd_iI_dp_c20251231_zTooHApsTu8c" title="Line of credit interest rates">6.8</span>%.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 7, 2025, Beeline Loans entered into an agreement with a different lender for a $<span id="xdx_907_eus-gaap--LineOfCredit_iI_pn5n6_c20251007_zjkBrc1fjZv9" title="Line of credit">5.0</span> million line of credit. <span id="xdx_900_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20251007__20251007_zS1JY58tRSy2" title="Line of credit interest rate description">The interest rate is equal to the greater of SOFR plus 3.00% or 6.00% for all agency, government and jumbo loans and the greater of SOFR plus 4.00% or 7.00% for all non-QM or second lien loans.</span> Beeline Loans is required to provide the lender with annual audited financial statements within 90 days after the end of its respective fiscal year and monthly interim unaudited financial statements within 45 days of the end of said month, and a monthly compliance report with compliance certificate within 15 days of the end of each month. Beeline Loans is also subject to loan repurchase provisions as defined in the agreement and certain non-financial covenants. As of December 31, 2025, Beeline Loans was in compliance with the covenants. Beeline Loans grants to the lender a security interest in and to all of Beeline Loans’ right, title, and interest in and to each mortgage loan in which the lender has acquired a warehouse interest. As of December 31, 2025, the outstanding balance of the warehouse line of credit was $<span id="xdx_907_eus-gaap--LineOfCredit_iI_pn5n6_c20251231_zXUOrdhEuuzg" title="Line of credit">3.5</span> million and accrued interest was $<span id="xdx_908_ecustom--AccruedInterestPayableCurrent_iI_c20251231_zQruVoDHGURf" title="Line of credit accrued interest">10,625</span> with interest rates of <span id="xdx_907_eus-gaap--LineOfCreditFacilityInterestRateAtPeriodEnd_iI_dp_c20251231__srt--RangeAxis__srt--MinimumMember_zBed1GVMblx7" title="Line of credit interest rates">6.3</span>%-<span id="xdx_90D_eus-gaap--LineOfCreditFacilityInterestRateAtPeriodEnd_iI_dp_c20251231__srt--RangeAxis__srt--MaximumMember_zPuoIrBOtSr4" title="Line of credit interest rates">7.5</span>%.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest expense on the warehouse lines of credit was $<span id="xdx_90B_eus-gaap--InterestExpense_pn5n6_c20250101__20251231__us-gaap--CreditFacilityAxis__us-gaap--LineOfCreditMember_zi6pYnguvlD9" title="Interest expense">0.4</span> million for the year ended December 31, 2025 and $<span id="xdx_90B_eus-gaap--InterestExpense_pn5n6_c20241008__20241231__us-gaap--CreditFacilityAxis__us-gaap--LineOfCreditMember_zJ8KmkUZOxae" title="Interest expense">0.1</span> million for the period October 8, 2024 through December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 10000000.0 10000000.0 5000000.0 15000000.0 0.0425 0.0550 7400000 9433 0.046 0.095 6100000 5000000.0 The interest rate is equal to the SOFR plus 3.00% for Agency Loans and SOFR plus 3.50% plus 0.50% step ups after curtailments with a floor of 3.75% for Non-QM/DSCR Loans. 3600000 6534 0.068 5000000.0 The interest rate is equal to the greater of SOFR plus 3.00% or 6.00% for all agency, government and jumbo loans and the greater of SOFR plus 4.00% or 7.00% for all non-QM or second lien loans. 3500000 10625 0.063 0.075 400000 100000 <p id="xdx_809_ecustom--NotesPayableDisclosureTextBlock_zxWtsJ1EUYd3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14. <span id="xdx_821_zWCyj04WGOD6">NOTES PAYABLE</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleOfDebtTableTextBlock_zU8623phH669" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes payable consisted of the following as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B4_zruYV0AF0pqe" style="display: none">SCHEDULE OF NOTES PAYABLE</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20251231_zzCj3we8UUL5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20241231_zbfreEJxBGL2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--NotesAndLoansPayable_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--NotesPayableTwoThousandAndTwentyThreeMember_zvJ3LNhsH2Ta" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Note payable - 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">   <span style="-sec-ix-hidden: xdx2ixbrl2244">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">500</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--NotesAndLoansPayable_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--TermLoanAgreementMember_zZCAV7x6ntn" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Term loan agreement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2247">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">275</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--NotesAndLoansPayable_iI_pn3n3_zrn4eI20K4v4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2250">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">775</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pn3n3_zPqlgYp4LT2g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2253">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pn3n3_di_zkqxZMCBlBN7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Debt discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2256">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--NotesPayable_iI_pn3n3_zj9MC2BPNbK1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Notes payable, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2259">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">840</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zXmADH0F1FU5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 13, 2025, the Company borrowed $<span id="xdx_906_eus-gaap--DebtInstrumentCarryingAmount_iI_pn5n6_c20250513_zv9NeRe52a5b" title="Borrowed amount">0.3</span> million from an affiliate of one of the secured credit lenders and issued a $<span id="xdx_905_eus-gaap--SecuredDebt_iI_pn5n6_c20250513_z4BmY5PRAt09" title="Notes payable">0.3</span> million non-convertible promissory note which was due on July 13, 2025, and bore interest computed at the per annum minimum Internal Revenue Service rate imputed as it may change from time-to-time prior to maturity. In June 2025, the note was repaid in full.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2023, Beeline Financial issued a note payable for proceeds of $<span id="xdx_908_eus-gaap--ProceedsFromNotesPayable_pn5n6_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--NotePayableMember_zUdvhiFcJms8">0.5</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million, net of offering costs. Interest accrues at <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20231231__us-gaap--DebtInstrumentAxis__custom--NotePayableMember_zDzoaBrd434f">18.0</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% per annum and interest-only payments are made monthly. This loan matured December 2024. On June 27, 2025, the lender agreed not to take action against the Company if the principal and any outstanding interest was paid by September 15, 2025. During September 2025, the principal balance and any accrued interest was fully repaid.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 29, 2021, Beeline Financial and Beeline Loans entered into a term loan agreement with the Business Development Company of Rhode Island (“BDCRI”) for $<span id="xdx_905_eus-gaap--DebtInstrumentCarryingAmount_iI_pn5n6_c20210429__us-gaap--TypeOfArrangementAxis__custom--TermLoanAgreementMember_zIKsCW7b5pM2">0.3</span> million which was originally to mature on <span id="xdx_90B_eus-gaap--DebtInstrumentMaturityDate_c20210429__20210429__us-gaap--TypeOfArrangementAxis__custom--TermLoanAgreementMember_z5AknPDryEZj">April 29, 2026</span> with an interest rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20210429__us-gaap--TypeOfArrangementAxis__custom--TermLoanAgreementMember_zSYHTaWDAjNe">6.0</span>%. The loan was amended in June 2024 to accelerate the maturity to June 21, 2024, and to change the personal guarantees from two guarantors to solely Beeline Financial’s Chief Executive Officer, as the guarantor. Beeline Financial made interest-only payments during 2024. On June 26, 2025, BDCRI agreed not to take action against the Company if the principal and any outstanding interest is paid by October 1, 2025. During September 2025, the principal balance and accrued interest was fully repaid.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_894_eus-gaap--ScheduleOfDebtTableTextBlock_zU8623phH669" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes payable consisted of the following as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B4_zruYV0AF0pqe" style="display: none">SCHEDULE OF NOTES PAYABLE</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20251231_zzCj3we8UUL5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20241231_zbfreEJxBGL2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--NotesAndLoansPayable_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--NotesPayableTwoThousandAndTwentyThreeMember_zvJ3LNhsH2Ta" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Note payable - 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">   <span style="-sec-ix-hidden: xdx2ixbrl2244">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">500</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--NotesAndLoansPayable_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--TermLoanAgreementMember_zZCAV7x6ntn" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Term loan agreement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2247">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">275</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--NotesAndLoansPayable_iI_pn3n3_zrn4eI20K4v4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2250">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">775</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pn3n3_zPqlgYp4LT2g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2253">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pn3n3_di_zkqxZMCBlBN7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Debt discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2256">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--NotesPayable_iI_pn3n3_zj9MC2BPNbK1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Notes payable, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2259">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">840</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 500000 275000 775000 70000 5000 840000 300000 300000 500000 0.180 300000 2026-04-29 0.060 <p id="xdx_805_ecustom--NotesPayableRelatedPartiesDisclouserTextBlock_z3SHo77QjE54" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15. <span id="xdx_824_z4zV85iBq3Bi">NOTES PAYABLE – RELATED PARTIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_ecustom--ScheduleOfNotesPayableRelatedPartiesTableTextBlock_zUxibbFBExT3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes payable, related parties consisted of the following as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zEIfqX8jOTJb" style="display: none">SCHEDULE OF NOTES PAYABLE RELATED PARTIES</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20251231_zhPav0vYVUdj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241231_zrYr501ZWOzi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--NotesPayableCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__srt--ChiefExecutiveOfficerMember_zfnTY3U6H8u2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Chief Executive Officer</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">   <span style="-sec-ix-hidden: xdx2ixbrl2275">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">737</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--NotesPayableCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--BoardMember_z0uuvytRpubk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Board member</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2278">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">87</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--NotesPayableCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zOhLcTlVDwu" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2281">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">824</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InterestPayableCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zfbin8FbxT8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accrued interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2284">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">67</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--NotesPayable_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zoaUw9HnVtW5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total notes payable, related parties</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2287">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">891</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A5_z1bfnoBcPqUa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February and March of 2025, Nicholas Liuzza, the Company’s Chief Executive Officer, advanced the Company a total of $<span id="xdx_90E_eus-gaap--ProceedsFromRelatedPartyDebt_c20250201__20250228__srt--TitleOfIndividualAxis__custom--NicholasLiuzzaMember_zSI3yZ5IVb0k" title="Advanced from related party"><span id="xdx_903_eus-gaap--ProceedsFromRelatedPartyDebt_c20250301__20250331__srt--TitleOfIndividualAxis__custom--NicholasLiuzzaMember_zlQ3z7au5svf" title="Advanced from related party">122,241</span></span> which the Company used for working capital and general corporate purposes. In exchange for these advances, on April 25, 2025, the Board of Directors approved the advances as loans, and the Company issued Mr. Liuzza a promissory note which bears interest at a rate of <span id="xdx_90C_eus-gaap--AccountsPayableInterestBearingInterestRate_iI_dp_uPure_c20250425__srt--TitleOfIndividualAxis__custom--NicholasLiuzzaMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zFXi9mqmiD7f" title="Bears interest percentage">8</span>% per annum and is payable on demand. On May 29, 2025, the note was amended to $<span id="xdx_90F_eus-gaap--DebtInstrumentCarryingAmount_iI_pn5n6_c20250529__srt--TitleOfIndividualAxis__custom--NicholasLiuzzaMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zlRKQmzdpQVc" title="Loaned">0.4</span> million. During September 2025, the principal balance and accrued interest was fully repaid.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 31, 2024, Mr. Liuzza loaned $<span id="xdx_908_eus-gaap--DebtInstrumentCarryingAmount_iI_pn5n6_c20241231__srt--TitleOfIndividualAxis__custom--NicholasLiuzzaMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zmDrsfFWhRc2" title="Loaned">0.7</span> million to Beeline Loans in exchange for a demand promissory note, which accrues interest at the rate of <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20241231__srt--TitleOfIndividualAxis__custom--NicholasLiuzzaMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_z2gebDMzfXIh" title="Interest rate percentage">8</span>% per annum and is payable within 15 days of a demand notice made by Mr. Liuzza. The funds were held in a restricted account to permit Beeline Loans to improve its ability to make real estate loans. On February 17, 2025, he converted the $<span id="xdx_90B_eus-gaap--DebtConversionConvertedInstrumentAmount1_pn5n6_c20250217__20250217__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_z5EX4EnaTc4k" title="Debt conversion, converted instrument, amount">0.7</span> million bridge loan into $<span id="xdx_903_eus-gaap--DebtConversionConvertedInstrumentAmount1_pn5n6_c20250217__20250217__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_z3ppjiFumgB5" title="Debt conversion, converted instrument, amount">0.7</span> million of units comprised of <span id="xdx_90E_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20250217__20250217__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zZhJNiD6Rg63" title="Debt conversion, converted instrument, shares issued">1,372,549</span> shares of Series G Preferred Stock and five-year Warrants to purchase a total of <span id="xdx_906_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20250217__20250217__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_z89PjiRhjT3g" title="Warrant to purchase">68,628</span> shares.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2023, Beeline Financial issued a note to a private company in which Joseph Freedman, a Board member of the Company and Beeline Financial, has an ownership interest. This note was for $<span id="xdx_902_eus-gaap--DebtInstrumentCarryingAmount_iI_pn5n6_c20251231__srt--TitleOfIndividualAxis__custom--JosephFreedmanMember_zohv8Q44v08h" title="Debt instrument carrying amount">0.1</span> million and accrued interest at <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20251231__srt--TitleOfIndividualAxis__custom--JosephFreedmanMember_zx8ZdbgqIST" title="Interest rate percentage">7</span>% per annum and is due on demand. This note was subsequently repaid in January 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 30, 2024, the Company entered into a promissory note with LDI for $<span id="xdx_903_eus-gaap--DebtInstrumentCarryingAmount_iI_pn5n6_c20241030__dei--LegalEntityAxis__custom--LDIInvestmentsLLCMember_zRN6VGVDtx2k" title="Promissory note amount">0.3</span> million. A balloon payment of the entire outstanding principal balance of the indebtedness together with all accrued interest was due and paid in full on November 24, 2024 of $<span id="xdx_901_eus-gaap--DebtInstrumentPeriodicPayment_pn5n6_c20241124__20241124__dei--LegalEntityAxis__custom--LDIInvestmentsLLCMember_z01X0krkZtKd" title="Outstanding principal payment">0.5</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_ecustom--ScheduleOfNotesPayableRelatedPartiesTableTextBlock_zUxibbFBExT3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes payable, related parties consisted of the following as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zEIfqX8jOTJb" style="display: none">SCHEDULE OF NOTES PAYABLE RELATED PARTIES</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20251231_zhPav0vYVUdj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241231_zrYr501ZWOzi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--NotesPayableCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__srt--ChiefExecutiveOfficerMember_zfnTY3U6H8u2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Chief Executive Officer</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">   <span style="-sec-ix-hidden: xdx2ixbrl2275">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">737</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--NotesPayableCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--BoardMember_z0uuvytRpubk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Board member</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2278">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">87</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--NotesPayableCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zOhLcTlVDwu" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2281">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">824</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InterestPayableCurrent_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zfbin8FbxT8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accrued interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2284">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">67</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--NotesPayable_iI_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zoaUw9HnVtW5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total notes payable, related parties</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2287">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">891</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 737000 87000 824000 67000 891000 122241 122241 0.08 400000 700000 0.08 700000 700000 1372549 68628 100000 0.07 300000 500000 <p id="xdx_802_ecustom--SecuredCreditFacilitiesTextBlock_z4vV3D8Aw0Kf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>16. <span id="xdx_82D_zA34vsM6BUmh">SECURED CREDIT FACILITIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_ecustom--ScheduleOfSecuredCreditFacilitiesTableTextBlock_zD9xWmTLI1lc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Secured credit facilities consisted of the following as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zOc38UyvlgG5" style="display: none">SCHEDULE OF SECURED CREDIT FACILITES</span><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zgcvoM5Tf6L7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231_z7beVlpAgXxf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--LinesOfCreditCurrent_iI_pn3n3_hus-gaap--CreditFacilityAxis__custom--PurchaseAgreementMember_zagfgQVoxms" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Purchase agreement</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2322">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,938</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LinesOfCreditCurrent_iI_pn3n3_hus-gaap--CreditFacilityAxis__custom--SideLetterMember_zw8mJMfylOvf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Side letter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2325">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">448</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LinesOfCreditCurrent_iI_pn3n3_hus-gaap--CreditFacilityAxis__custom--SeniorSecuredDebenturesMember_zjOgbBGkpSAc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Senior secured debentures</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2328">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,600</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--LinesOfCreditCurrentNonCurrent_iI_pn3n3_zL2xzTlKTpgd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2331">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,986</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--LineOfCreditAccruedInterest_iI_pn3n3_z5cd7jOocpP8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2334">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">199</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--LinesOfCreditDebtIssuanceCosts_iI_pn3n3_zBCnEeNTzNQ3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt issuance costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2337">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,719</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_ecustom--SecuredDebtCurrentAndNonCurrent_iI_zmFpIKq1U36l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total secured credit facilities, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2340">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,466</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zRRhsZj6c0U4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 14, 2024, the Company sold $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20241114__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredNotesMember_zUgYRtq9CyG2" title="Aggregate principal amount">1.9</span> million in aggregate principal amount of Senior Secured Notes (the “Notes”) and Pre-Funded Warrants to purchase a total of <span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20241114__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredNotesMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantsMember_z7NGS1oTsDb1" title="Shares of common stock">36,360</span> shares of common stock for total net proceeds of $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn5n6_c20241114__20241124__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredNotesMember_zFn5kubhAj8" title="Proceeds from private offering">1.6</span> million in a private placement offering. As of December 31, 2024, unamortized debt issuance costs were $<span id="xdx_90B_eus-gaap--DeferredFinanceCostsNet_iI_pn5n6_c20241231__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredNotesMember_z3aTjPM5esMj" title="Unamortized debt issuance costs">0.7</span> million. As of December 31, 2025, they were fully amortized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Notes had a maturity date of 120 days from issuance, were issued with a <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20251231_zY1l71siapYf" title="Original discount rate percentage">20</span>% original issue discount and did not bear interest unless and until one or more of the customary events of default set forth therein occurred, whereupon each Note would bear interest at a rate of <span id="xdx_906_eus-gaap--ShortTermDebtPercentageBearingFixedInterestRate_iI_pid_dp_uPure_c20251231_zhLXKo7d3ixg" title="Bear interest rate percentage">18</span>% per annum. If the Note remained outstanding as of May 14, 2025, the Note also required a special one-time interest payment of <span id="xdx_906_ecustom--SpecialOneTimeInterestPayment_iI_pid_dp_uPure_c20251231_zXYZXlvI0PFj" title="Special one time interest payment">30</span>% which would increase the principal of each Note accordingly. Upon the occurrence of an event of default, each Investor also had the right to require the Company to pay all or any portion of the Note at a <span id="xdx_90D_ecustom--PremiumRatePercentage_iI_pid_dp_uPure_c20251231_zt9gCRwl24K9" title="Premium rate percentage">25</span>% premium. Further, the Company was required to prepay the Notes in connection with certain sales of securities or assets at each Investor’s election in an amount equal to <span id="xdx_902_ecustom--GrossProceedsFromSalesPercentage_iI_pid_dp_uPure_c20251231_zDVvqqAKux1b" title="Gross proceeds from sales percentage">35</span>% of the gross proceeds from such sales. The Company also had the right to prepay all, but not less than all, of the outstanding amounts under the Notes, at its election. The Notes contained certain restrictive covenants, including covenants precluding the Company and its subsidiaries from incurring indebtedness, transferring assets, changing the nature of its business, and engaging in certain other actions, subject to certain exceptions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In March 2025, the Company and certain of the holders agreed to an extension of the maturity date to <span id="xdx_90E_ecustom--CreditFacilityExpirationDate_dd_c20250301__20250331_z9QOeO3nZ2Ke" title="Credit facility, expiration date">April 14, 2025</span> in exchange for an increase to the principal of the notes by <span id="xdx_904_ecustom--IncreaseDecreaseOfPrincipalInterestRate_pid_dp_uPure_c20250301__20250331_zvTzOoAfHl2g" title="Principal interest rate, increase">10</span>%, and two lenders were each paid their principal balance plus <span id="xdx_90C_ecustom--IncreaseDecreaseOfPrincipalInterestRate_pid_dp_uPure_c20250301__20250331__srt--TitleOfIndividualAxis__custom--TwoLendersMember_zLyqVHdg6ksg" title="Principal interest rate, increase">2.5</span>% interest of $<span id="xdx_905_eus-gaap--LineOfCreditFacilityPeriodicPaymentInterest_pn5n6_c20250301__20250331__srt--TitleOfIndividualAxis__custom--TwoLendersMember_zOK7DSZfVuo" title="Principal interest">0.3</span> million. On April 14, 2025, the Company and the remaining Note holders entered into an agreement for a second extension to May 14, 2025 for an additional payment in an amount equal to <span id="xdx_90C_ecustom--IncreaseDecreaseOfPrincipalInterestRate_pid_dp_uPure_c20250414__20250414_z9I1hAns6Nx6" title="Principal interest rate, increase">5</span>% of the outstanding principal of the applicable Notes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 12, 2025, the Company entered into an agreement with two Note holders to extend the maturity date to <span id="xdx_90F_ecustom--CreditFacilityMaturityDate_dd_c20250512__20250512__us-gaap--DebtInstrumentAxis__custom--TwoNoteHoldersMember_zI7hBHRVvwj2" title="Maturity date">August 14, 2025</span>. On June 26, 2025, the Company amended $<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20250626__20250626__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--DebtInstrumentAxis__custom--TwoNoteHoldersMember_zxSv1n7pNCGg" title="Convertible shares value">0.5</span> million of the Notes by making them convertible into shares of the Company’s common stock at a conversion price of $<span id="xdx_90D_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20250626__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--DebtInstrumentAxis__custom--TwoNoteHoldersMember_zneBQ7Z4xwoe" title="Conversion price per share">1.32</span> per share. These Notes were subsequently converted to common stock at the fair of common stock and therefore no gain or loss on the conversion, see <i>Note 18 – Stockholders’ Equity. </i>Additionally, these same lenders extinguished an extension fee of $<span id="xdx_900_ecustom--ExtinguishedExtensionFee_pn5n6_c20250626__20250626__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--DebtInstrumentAxis__custom--TwoNoteHoldersMember_zSGdrwl7Gz72" title="Extinguished extension fee">0.1</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 14, 2025, the Company entered into an agreement with the two other Note holders to extend the maturity date of each Note to <span id="xdx_90A_ecustom--CreditFacilityMaturityDate_dd_c20250514__20250514__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoOtherNoteHoldersMember_zzA8Zl7RAE4a" title="Maturity date">May 26, 2025</span> after the Company paid <span id="xdx_90B_ecustom--UnpainAmountPercentage_iI_pid_dp_uPure_c20250514__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoOtherNoteHoldersMember_zBgM531pz863" title="Company paid amount">50</span>% of the outstanding principal balance of $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20250514__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoOtherNoteHoldersMember_zdtmcNn7MyJh" title="Outstanding principal balance">0.5</span> million. In June 2025, the Company repaid the remaining the balance of $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20250514__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoOtherNoteHoldersMember_zIM3e8NAb7eb" title="Outstanding principal balance">0.5</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company also entered in three forms of side letters in 2024 with the investors which (i) permitted one investor which along with an affiliate invested $<span id="xdx_901_eus-gaap--Investments_iI_pn5n6_c20241114__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoOtherNoteHoldersMember_zn7c2ToG9KOa" title="Affiliate invested">0.4</span> million to exchange that amount of stated value of shares of Series F Preferred Stock (the “Series F”) for a $<span id="xdx_906_eus-gaap--PreferredStockValue_iI_pn5n6_c20241114__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember__us-gaap--DebtInstrumentAxis__custom--TwoOtherNoteHoldersMember_z5fDRFBkS5d5" title="Stock value">0.4</span> million 120-day promissory note to another affiliate, which note was issued immediately prior to the closing of the applicable offering and has substantially identical terms to the Notes issued therein, except it is subordinated with respect to its security interest, (ii) permitted two investors to convert Series D Preferred Stock beginning on April 7, 2025, see <i>Note 18 – Stockholders’ Equity</i>, and (iii) permitted two investors to receive a number of shares of Series F equal to <span id="xdx_902_ecustom--InvestmentAmountPercentage_iI_pid_dp_uPure_c20241114__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember__us-gaap--DebtInstrumentAxis__custom--TwoOtherNoteHoldersMember_z0nxGGFwvEz7" title="Investment amount percentage">50</span>% of their investment amount, or $<span id="xdx_906_eus-gaap--PreferredStockValue_iI_pn5n6_c20241114__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwoInvestorsMember__us-gaap--DebtInstrumentAxis__custom--TwoOtherNoteHoldersMember_zekf1MqFIxWj" title="Stock value">0.1</span> million each, using the stated value of the Series F, which is $<span id="xdx_90D_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20241114__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwoInvestorsMember__us-gaap--DebtInstrumentAxis__custom--TwoOtherNoteHoldersMember_zvYHODN2oVH9" title="Stock per share">0.50</span> per share, to determine the number of shares of Series F. As of December 31, 2024, unamortized debt issuance costs related to the side letters were $<span id="xdx_90F_eus-gaap--DeferredFinanceCostsNet_iI_pn5n6_c20241231__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoOtherNoteHoldersMember_ztjSx40r8v0c" title="Unamortized debt issuance costs">0.4</span> million. As of December 31, 2025, debt issuance costs related to the side letters were fully amortized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 26, 2025, the Company amended the 120-day promissory note of $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_pn5n6_c20250626__20250626__us-gaap--DebtInstrumentAxis__custom--OneHundredAndTwentyDayPromissoryNoteMember_z4et6EyFizQb" title="Convertible conversion shares value">0.4</span> million by making it convertible into shares of the Company’s common stock at a conversion price of $<span id="xdx_902_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20250626__us-gaap--DebtInstrumentAxis__custom--OneHundredAndTwentyDayPromissoryNoteMember_zaIUoFiynoe" title="Conversion price">1.32</span> per share. This note was subsequently converted to common stock, see <i>Note 18 - Stockholders’ Equity.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Senior secured debentures</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2024, Beeline Financial issued senior secured debentures of $<span id="xdx_90B_eus-gaap--NotesPayable_iI_pn5n6_c20241231__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredDebenturesMember_zoanbLbGzTlb" title="Notes payable issued">3.6</span> million maturing <span id="xdx_905_eus-gaap--DebtInstrumentMaturityDate_c20240101__20241231__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredDebenturesMember_zohKC6AbS5dc" title="Maturity date">September 5, 2025</span> with payments made in nine equal monthly installments of $<span id="xdx_903_eus-gaap--DebtInstrumentPeriodicPayment_pn5n6_c20240101__20241231__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredDebenturesMember_zGDzE3fj6QC" title="Notes payable monthly installments payment">0.4</span> million beginning January 2025. During September 2025, the principal balance and accrued interest was fully repaid. As of December 31, 2024, the principal balance was $<span id="xdx_90A_eus-gaap--SecuredDebt_iI_pn5n6_c20241231__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredDebenturesMember_zkUfg955XzBg" title="Principal balance">3.6</span> million, unamortized debt discount costs were $<span id="xdx_907_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pn5n6_c20241231__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredDebenturesMember_ztfVkkwVolyc" title="Unamortized debt discount">0.6</span> million, and accrued interest was $<span id="xdx_900_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pn5n6_c20241231__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredDebenturesMember_zdlPGbshHPh3" title="Accrued interest">0.2</span> million. As of December 31, 2025, the debt discount was fully amortized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>2024 Secured Notes</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 15, 2024, Eastside entered into a Loan Agreement with the SPV, Aegis, Bigger, District 2, and LDI and purchased from the Company promissory notes in the aggregate principal amount of $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20240515__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourSecuredNotesMember__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__srt--ConsolidatedEntitiesAxis__custom--BiggerDistrictTwoAndLDIMember_zWU2s9Zydht2">1.1</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million. Subsequently in 2024, these notes were exchanged as part of the Debt Exchange Agreement, further described above in <i>Note 5 - Debt Exchange Agreement.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With each 2024 Secured Note, Eastside issued Warrants to purchase a share of Eastside’s common stock for $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240515__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourSecuredNotesMember__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__srt--ConsolidatedEntitiesAxis__custom--BiggerDistrictTwoAndLDIMember_zSLgsWFYEen6" title="Warrant exercisable price per share">50.00</span> exercisable for <span id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20240515__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourSecuredNotesMember__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__srt--ConsolidatedEntitiesAxis__custom--BiggerDistrictTwoAndLDIMember_zY1xJFiGhI72" title="Warrant exercisable period">five years</span> after December 2, 2024 if on November 29, 2024 the 2024 Secured Note issued to the Warrant-holder remained unsatisfied. LDI received a Warrant to purchase <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240515__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourSecuredNotesMember__srt--ConsolidatedEntitiesAxis__custom--LDInvestmentsLLCMember__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember_zp4UY3NPzUj8" title="Warrant to purchase of shares">59,802</span> shares and each of Bigger and District 2 received a Warrant to purchase <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240515__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourSecuredNotesMember__srt--ConsolidatedEntitiesAxis__custom--BiggerCapitalFundLPMember__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember_z04t2IKcznl1" title="Warrant to purchase of shares">29,901</span> shares resulting in a debt discount of $<span id="xdx_905_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pn5n6_c20240515__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourSecuredNotesMember__srt--ConsolidatedEntitiesAxis__custom--BiggerCapitalFundLPMember__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember_zNgJD2IIBSh1" title="Debt discount">0.3</span> million, which were subsequently forgiven as part of the Debt Exchange Agreement and recorded to troubled debt restructuring in the consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_902_eus-gaap--DebtInstrumentDescription_c20241129__20241129__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember_zVuQM0aa6xoe" title="Loan purchase description">The Loan Agreement provided that if the 2024 Secured Notes had not been satisfied by November 29, 2024, then until March 31, 2025 each of the Subscribers would have the right to purchase a “Kicker Note” in the amount of $0.5 million for LDI or $0.3 million for each of Bigger and District 2 by surrendering debt or equity instruments specified in the Loan Agreement.</span> The Kicker Notes did not bear interest, and could be satisfied by payment of their principal amounts on or before March 31, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Eastside’s obligations under the 2024 Secured Notes and the Kicker Notes (collectively, the “2024 Notes”) were secured by Eastside’s pledge of its assets, subject to certain specified exceptions. In connection with the Loan Agreement, Eastside, Aegis, Bigger and District 2 amended and restated the Intercreditor Agreement they had executed on September 29, 2023. In the Amended and Restated Intercreditor Agreement, Aegis, Bigger and District 2 subordinate their liens on any barrels of spirits owned by Eastside, and the parties agree that the net proceeds of any sale of barrels will be paid to the Subscribers in satisfaction of the 2024 Notes. Commencing when all barrels have been sold, the lien of the Subscribers under the 2024 Notes would become pari passu with the senior lien on the remaining collateral.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="margin: 0">Subsequently in 2024, these notes were exchanged as part of the Debt Exchange Agreement, further described above in <i>Note 5 - Debt Exchange Agreement.</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>6% Secured Convertible Promissory Notes</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 19, 2021, Eastside entered into a securities purchase agreement (“Purchase Agreement”) with accredited investors (“Subscribers”) for their purchase of up to $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20210419__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorsMember__us-gaap--DebtInstrumentAxis__custom--SecuredConvertiblePromissoryNotesMember_z4V0k7dgS4Ul" title="Debt principal amount">3.3</span> million of principal amount of <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20210419__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorsMember__us-gaap--DebtInstrumentAxis__custom--SecuredConvertiblePromissoryNotesMember_zeZihmNr4YRc" title="Debt instrument interest rate during period">6</span>% secured convertible promissory notes (“Note” or “Notes”). On September 29, 2023, Eastside entered into a debt satisfaction agreement with the Subscribers and other creditors, pursuant to which principal and interest on the Notes of $<span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20230929__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorsMember__us-gaap--DebtInstrumentAxis__custom--SecuredConvertiblePromissoryNotesMember_z7Aks7QKyaI9" title="Debt principal amount">3.3</span> million was exchanged for equity issued to the SPV, in which the Subscribers held a <span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20230929__us-gaap--TypeOfArrangementAxis__custom--DebtSatisfactionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SubscribersMember_zT6BeT5798d4" title="Ownership interest">50</span>% ownership interest, and the Notes were then amended and restated. Subsequently in 2024, these notes were further converted or exchanged as part of the Debt Exchange Agreement, further described above in <i>Note 5 - Debt Exchange Agreement.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Secured Credit Facilities – Related Party </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 7, 2022, Eastside entered into a Note Purchase Agreement dated as of October 6, 2022 with Aegis. Pursuant to the Note Purchase Agreement, Aegis purchased from Eastside a secured promissory note in the principal amount of $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20221007__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SecuredConvertiblePromissoryNotesMember_zd5JQ8M0gRU9" title="Debt principal amount">4.5</span> million (the “Aegis Note”). Aegis paid for the Aegis Note by paying $<span id="xdx_904_eus-gaap--DebtInstrumentPeriodicPaymentInterest_pn5n6_c20221007__20221007__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SecuredConvertiblePromissoryNotesMember_zrcbhc09FNi6" title="Debt payment">3.3</span> million to TQLA LLC to fully satisfy a secured line of credit promissory note that Eastside issued to TQLA on March 21, 2022; and the remaining $<span id="xdx_909_eus-gaap--LineOfCreditFacilityRemainingBorrowingCapacity_iI_pn5n6_c20221007__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SecuredConvertiblePromissoryNotesMember_zErx5bB0cEIl" title="Debt remaining payment">1.2</span> million was paid in cash to Eastside. The Aegis Note bore interest at <span id="xdx_901_eus-gaap--LongTermDebtPercentageBearingFixedInterestRate_iI_pid_dp_uPure_c20221007__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SecuredConvertiblePromissoryNotesMember_z4gPzJB5HWub" title="Bore interest percentage">9.25</span>% per annum, payable every three months. The principal amount of the Aegis Note was payable on March 31, 2025. Eastside pledged substantially all of its assets to secure its obligations to Aegis under the Aegis Note.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 29, 2023, Eastside entered into a Debt Satisfaction Agreement with Aegis and other creditors, pursuant to which the Aegis Note was amended and restated. Principal and interest of $<span id="xdx_90E_eus-gaap--DebtInstrumentIssuedPrincipal_pn5n6_c20221007__20221007__us-gaap--TypeOfArrangementAxis__custom--DebtSatisfactionAgreementMember_zROHdUCwOsXj" title="Principal and interest amount">1.9</span> million were exchanged for equity issued to the SPV, in which Aegis held a <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20221007__us-gaap--TypeOfArrangementAxis__custom--DebtSatisfactionAgreementMember_z7sefCk2RgZ" title="Debt interest percentage">29</span>% interest. Subsequently in 2024, these notes were further converted or exchanged as part of the Debt Exchange Agreement, further described above in <i>Note 5 - Debt Exchange Agreement.</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_ecustom--ScheduleOfSecuredCreditFacilitiesTableTextBlock_zD9xWmTLI1lc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Secured credit facilities consisted of the following as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zOc38UyvlgG5" style="display: none">SCHEDULE OF SECURED CREDIT FACILITES</span><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zgcvoM5Tf6L7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231_z7beVlpAgXxf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--LinesOfCreditCurrent_iI_pn3n3_hus-gaap--CreditFacilityAxis__custom--PurchaseAgreementMember_zagfgQVoxms" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Purchase agreement</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2322">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,938</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LinesOfCreditCurrent_iI_pn3n3_hus-gaap--CreditFacilityAxis__custom--SideLetterMember_zw8mJMfylOvf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Side letter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2325">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">448</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LinesOfCreditCurrent_iI_pn3n3_hus-gaap--CreditFacilityAxis__custom--SeniorSecuredDebenturesMember_zjOgbBGkpSAc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Senior secured debentures</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2328">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,600</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--LinesOfCreditCurrentNonCurrent_iI_pn3n3_zL2xzTlKTpgd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2331">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,986</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--LineOfCreditAccruedInterest_iI_pn3n3_z5cd7jOocpP8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2334">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">199</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--LinesOfCreditDebtIssuanceCosts_iI_pn3n3_zBCnEeNTzNQ3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt issuance costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2337">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,719</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_ecustom--SecuredDebtCurrentAndNonCurrent_iI_zmFpIKq1U36l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total secured credit facilities, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2340">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,466</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 1938000 448000 3600000 5986000 199000 -1719000 4466000 1900000 36360 1600000 700000 0.20 0.18 0.30 0.25 0.35 2025-04-14 0.10 0.025 300000 0.05 2025-08-14 500000 1.32 100000 2025-05-26 0.50 500000 500000 400000 400000 0.50 100000 0.50 400000 400000 1.32 3600000 2025-09-05 400000 3600000 600000 200000 1100000 50.00 P5Y 59802 29901 300000 The Loan Agreement provided that if the 2024 Secured Notes had not been satisfied by November 29, 2024, then until March 31, 2025 each of the Subscribers would have the right to purchase a “Kicker Note” in the amount of $0.5 million for LDI or $0.3 million for each of Bigger and District 2 by surrendering debt or equity instruments specified in the Loan Agreement. 3300000 0.06 3300000 0.50 4500000 3300000 1200000 0.0925 1900000 0.29 <p id="xdx_80E_eus-gaap--LesseeOperatingLeasesTextBlock_zXZgd3Nd1wr6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17. <span id="xdx_82B_z2PYwfbgC9Vg">LEASE OBLIGATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline Financial leases office space under various operating lease agreements, including an office for its headquarters, for branch location and licensing purposes under non-cancelable lease arrangements that provide for payments on a graduated basis with various expiration dates. Terms of these leases include, in some instances, scheduled rent increases, renewals, purchase options and maintenance costs, and vary by lease. Beeline Financial has leased approximately <span id="xdx_900_eus-gaap--AreaOfLand_iI_usqft_c20251231_zI39bFBBSR07" title="Area of land">9,809</span> square feet of space in Rhode Island and Australia that expires at various dates through 2028. The Company does not have any financing leases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the rate implicit in each lease is not readily determinable, the Company uses its incremental borrowing rate of <span id="xdx_90F_ecustom--IncrementalBorrowingsRate_pid_dp_uPure_c20250101__20251231_zysbAXONYLia" title="Incremental borrowings rate">10</span>% based on information available at commencement to determine the present value of the lease payments. Right-of-use assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Leases with an initial term of 12 months or less (“short-term leases”) are not recorded on the balance sheet and are recognized on a straight-line basis over the lease term. As of December 31, 2025, the amount of right-of-use assets and lease liabilities were $<span id="xdx_908_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn5n6_c20251231_zI9w15xRf922" title="Operating lease right of use asset">0.4</span> million and $<span id="xdx_90C_eus-gaap--OperatingLeaseLiability_iI_pn5n6_c20251231_zfRw9wXfNUBi" title="Operating lease liabilities">0.5</span> million, respectively. As of December 31, 2024, the amount of right-of-use assets and lease liabilities were $<span id="xdx_909_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn5n6_c20241231_zGbHPxCR0Ql5" title="Operating lease right of use asset">1.3</span> million and $<span id="xdx_90C_eus-gaap--OperatingLeaseLiability_iI_pn5n6_c20241231_zjcny12bKTPj" title="Operating lease liabilities">1.5</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2025, the Company reassessed the lease term for its office headquarters and determined that the Company will not exercise the renewal option. This change in judgment resulted in a reduction of the lease term for the affected leases. As a result of the remeasurement, the Company reduced the right-of-use assets and lease liabilities by $<span id="xdx_90B_ecustom--IncreaseDecreaseInOperatingLeaseRightOfUseAsset_pn5n6_c20250101__20251231_ztAJ2Uwr6w86" title="Operating lease right of use asset">0.5</span> million and $<span id="xdx_90B_eus-gaap--IncreaseDecreaseInOperatingLeaseLiability_pn5n6_c20250101__20251231_zM9g5UtCdOpa" title="Operating lease liabilities">0.6</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lease expense for operating leases is recognized on a straight-line basis over the lease term. Aggregate lease expense for the years ended December 31, 2025 and 2024 was $<span id="xdx_902_eus-gaap--LeaseCost_pn5n6_c20250101__20251231_zOJJbkOhNrj1">0.2</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million and $<span id="xdx_90E_eus-gaap--LeaseCost_pn5n6_c20240101__20241231_zOX2pSwnJiWl">0.3</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million, respectively, and is </span>included in general and administrative expenses in the consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_z2UQvAp6Yol5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maturities of lease liabilities as of December 31, 2025 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_zSi2fPKpODn1" style="display: none">SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231_zGh1OA4voutl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating<br/> Leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted-Average Remaining <br/> Term in Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_pn3n3_maLOLLPzElE_zSsjNTmBpY9g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: right">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">286</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_i01I_pn3n3_maLOLLPzElE_zQXENQLTfRvc" style="vertical-align: bottom; background-color: White"> <td style="text-align: right">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">183</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_i01I_pn3n3_maLOLLPzElE_znS28GHXFwci" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_i01TI_pn3n3_mtLOLLPzElE_zlRexWJOZcSk" style="vertical-align: bottom; background-color: White"> <td style="text-align: right">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">506</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_i01NI_pn3n3_di_zWA0tnwPWqC3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right; padding-bottom: 1pt">Less imputed interest (based on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE1BVFVSSVRJRVMgT0YgT1BFUkFUSU5HIExFQVNFIExJQUJJTElUSUVTIChEZXRhaWxzKShQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20251231_z9oxbeJDRhk7" title="Operating lease weighted average discount rate">10.0</span>% weighted-average discount rate)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(46</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiability_i01I_pn3n3_zFTr0stkXxMl" style="vertical-align: bottom; background-color: White"> <td style="text-align: right">Present value of lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">460</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zybzB9pYBv0h" title="Operating lease weighted average remaining lease term">1.66</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityCurrent_i01I_pn3n3_zH0NrVeAEzrl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right; padding-bottom: 1pt">Less current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">239</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityNoncurrent_i01I_pn3n3_zJDm3dPvZGvg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: right; padding-bottom: 2.5pt">Lease liabilities, net of current portion</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">221</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A4_zLj4W4c0dby9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 9809 0.10 400000 500000 1300000 1500000 500000 600000 200000 300000 <p id="xdx_894_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_z2UQvAp6Yol5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maturities of lease liabilities as of December 31, 2025 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_zSi2fPKpODn1" style="display: none">SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231_zGh1OA4voutl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating<br/> Leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted-Average Remaining <br/> Term in Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_pn3n3_maLOLLPzElE_zSsjNTmBpY9g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: right">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">286</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_i01I_pn3n3_maLOLLPzElE_zQXENQLTfRvc" style="vertical-align: bottom; background-color: White"> <td style="text-align: right">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">183</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_i01I_pn3n3_maLOLLPzElE_znS28GHXFwci" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_i01TI_pn3n3_mtLOLLPzElE_zlRexWJOZcSk" style="vertical-align: bottom; background-color: White"> <td style="text-align: right">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">506</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_i01NI_pn3n3_di_zWA0tnwPWqC3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right; padding-bottom: 1pt">Less imputed interest (based on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE1BVFVSSVRJRVMgT0YgT1BFUkFUSU5HIExFQVNFIExJQUJJTElUSUVTIChEZXRhaWxzKShQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20251231_z9oxbeJDRhk7" title="Operating lease weighted average discount rate">10.0</span>% weighted-average discount rate)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(46</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiability_i01I_pn3n3_zFTr0stkXxMl" style="vertical-align: bottom; background-color: White"> <td style="text-align: right">Present value of lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">460</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zybzB9pYBv0h" title="Operating lease weighted average remaining lease term">1.66</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityCurrent_i01I_pn3n3_zH0NrVeAEzrl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right; padding-bottom: 1pt">Less current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">239</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityNoncurrent_i01I_pn3n3_zJDm3dPvZGvg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: right; padding-bottom: 2.5pt">Lease liabilities, net of current portion</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">221</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 286000 183000 37000 506000 0.100 46000 460000 P1Y7M28D 239000 221000 <p id="xdx_80A_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zUcuGPYzv0p" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>18. <span id="xdx_82D_zBJqFenMyFqe">STOCKHOLDERS’ EQUITY</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Increase in Authorized Shares </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 27, 2025, a Special Meeting of the Stockholders of the Company was held and stockholders approved an amendment to the Company’s Articles of Incorporation to increase the number of authorized shares of the Company’s common stock, par value $<span id="xdx_906_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20250127_z46ZvxWyoz92" title="Common stock, par value">0.0001</span> per share, to <span id="xdx_90D_eus-gaap--CommonStockSharesAuthorized_iI_pid_c20250127_zyoo35jiufa3" title="Common stock, shares authorized">100,000,000</span> from <span id="xdx_900_eus-gaap--CommonStockSharesAuthorized_iI_pid_c20250126_zSGJ7iA8Dgaf" title="Common stock, shares authorized">6,000,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Reverse Stock Split</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 12, 2025, the Company implemented a <span id="xdx_903_eus-gaap--StockholdersEquityReverseStockSplit_c20250312__20250312_zrubvKD1NVs5" title="Reverse stock split">1-for-10</span> reverse stock split of its common stock. All share and per share data in these consolidated financial statements have been retrospectively adjusted to give effect to the stock split.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Issuance of Common Stock</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>2025</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2025, the Company issued <span id="xdx_90B_ecustom--StockIssuedDuringPeriodSharesRelatedToSettlement_pid_c20250201__20250228_ziy7R6bcCgy" title="Issuance of stock related to settlement">13,115</span> shares of common stock related to a legal settlement agreed upon in October 2024 where $<span id="xdx_905_ecustom--StockIssuedDuringPeriodValueRelatedToSettlement_pn5n6_c20250201__20250228_z1hDUhAeER1b" title="Shares issued value common stock value">0.1</span> million was recorded as stock to be issued as of December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From June 26, 2025 through June 30, 2025, certain holders of the Notes converted $<span id="xdx_905_eus-gaap--StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_pn5n6_c20250626__20250630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zlfWn4lckp6e" title="Shares issued convertible conversion value">1.0</span> million of their Notes into <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250626__20250630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zgFCAtvDrJB2" title="Shares issued convertible conversion">747,221</span> shares of common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2025, the Company issued <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250601__20250630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember_zzpQrltfvm7f" title="Shares issued value common stock">10,000</span> shares of common stock at $<span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20250630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember_zvLHCv8xWPYc" title="Shares issued price per share">1.43</span> per share in satisfaction of the former Chief Executive Officer’s employment agreement.</span> The Company recorded $<span id="xdx_903_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pid_c20250601__20250630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember_zKWiRn2xtGJ4" title="Employee stock-based compensation">14,300</span> of employee stock-based compensation included in compensation, commissions and benefits in the consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In October 2025, the Company received $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20251031__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zlDCKqjDYTIb" title="Warrant issued">25,000</span> for the exercise of the <span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20251031__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zV7NB9nvQ4z9" title="Warrant issued">25,000</span> warrant shares related to a settlement and issued <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20251031__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_znKnUlaD6Qgd" title="Warrant issued">25,000</span> shares of common stock at an exercise price of $<span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20251031__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zGlgOii0uVgf" title="Warrant exercise price">1.00</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In October 2025, the Company issued <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_c20251001__20251031__us-gaap--PlanNameAxis__custom--AmendedAndRestated2025EquityIncentivePlanMember__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember_zPHCd7PGfwGk" title="Number of shares restricted">462,331</span> shares of restricted common stock to the Company’s Board of Directors under its Amended and Restated 2025 Equity Incentive Plan (the “2025 Plan”) subject to certain vesting requirements. The total value of these RSA grants was $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueRestrictedStockAwardGross_pn5n6_c20250101__20251231__us-gaap--PlanNameAxis__custom--AmendedAndRestated2025EquityIncentivePlanMember__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember_zsEdLlB26Bi3" title="Number of shares granted">1.7</span> million for the year ended December 31, 2025, <i>see Note 19 – Stock-Based Compensation</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2025, the Company issued <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_c20251101__20251130__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFivePlanMember__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zjtz9culSu0b">91,315</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of restricted common stock to consultants of the Company under its 2025 Plan subject to certain vesting requirements. The total value of these RSA grants was $<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValueRestrictedStockAwardGross_pn5n6_c20251101__20251130__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFivePlanMember__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zjcFAv2MrOG8" title="Number of shares granted">0.2</span> million for the year ended December 31, 2025, <i>see Note 19 – Stock-Based Compensation</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 11, 2025, the Company entered into a Securities Purchase Agreement with certain accredited investors, pursuant to which the Company sold <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20251111__20251111__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zHIDr7w2SHRg" title="Sale of stock">4,620,000</span> common shares at $<span id="xdx_90F_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20251111__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zleNMgZ11Kc4" title="Sale of stock per price">1.60</span> per share, raising gross proceeds of $<span id="xdx_902_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20251111__20251111__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zAyLH3e3QMX7" title="Proceeds">7.4</span> million, before deducting placement agent fees and other offering expenses payable by the Company of $<span id="xdx_90B_eus-gaap--PaymentsOfDebtIssuanceCosts_pn5n6_c20251111__20251111__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zbse5R40rDDi" title="Offering costs">0.8</span> million and charged to additional paid-in capital.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2025, the Company issued dividends of <span id="xdx_909_eus-gaap--CommonStockDividendsShares_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z48aB2BubPK9" title="Dividends shares">58,079</span> shares of common stock computed using a VWAP of $<span id="xdx_908_eus-gaap--SharePrice_iI_pid_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zlf6VtJ6fYWa" title="Share price">2.58</span> per share to its Series B Preferred stockholders and recorded $<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodValueStockDividend_pn5n6_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zAzQyAFGX7G3" title="Dividends">0.2</span> million of preferred dividends.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2025, the Company sold <span id="xdx_90D_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20250101__20251231__us-gaap--SubsidiarySaleOfStockAxis__custom--ATMPublicPlacementsMember_zBC1wdfyu2Na" title="Number of stock foe sales">5,907,698</span> shares of common stock for gross proceeds of $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn5n6_c20250101__20251231__us-gaap--SubsidiarySaleOfStockAxis__custom--ATMPublicPlacementsMember_z23WnJRohu4h" title="Common stock for gross proceeds">8.3</span> million in at-the-market public placements. The Company recorded related offering costs that were charged to additional paid-in capital of $<span id="xdx_90B_eus-gaap--PaymentsOfDebtIssuanceCosts_pn5n6_c20250101__20251231__us-gaap--SubsidiarySaleOfStockAxis__custom--ATMPublicPlacementsMember_z3J9ZYQHLKn" title="Offering costs">0.4</span> million as of December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2025, the Company issued a cumulative <span id="xdx_90A_eus-gaap--ConversionOfStockSharesIssued1_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zDtle3ZeUeZ1" title="Number of shares converted">9,806,209</span> shares of common stock as a result of various preferred stock conversions as noted below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>See Note 25, Subsequent Events for common stock issued in 2026.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>2024</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 5, 2024, the Company entered into a Securities Purchase Agreement with a single institutional investor for the sale of <span id="xdx_902_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20240905__20240905__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_z1xi7QzOdLc7" title="Sale of shares of common stock">9,282</span> shares of common stock for $<span id="xdx_90A_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20240905__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zjTmI5hlMDX6" title="Sale of stock per shares">10.00</span> per share, and the sale of pre-funded warrants for $<span id="xdx_90C_eus-gaap--SharePrice_iI_pid_c20240905__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_zSJVTLpV3UMe" title="Share price">9.999</span> per warrant. The warrants permitted the purchase of <span id="xdx_903_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240905__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zS93xI9YNef5" title="Purchase of warrants">34,920</span> shares of common stock for $<span id="xdx_90B_eus-gaap--SharePrice_iI_pid_c20240905__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zMZWSUbCyAuc" title="Share price">0.001</span> per share. The warrants were exercised on <span id="xdx_903_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_pid_dd_c20240905__20240905__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zJuOODPvx5o4" title="Warrants exercised">September 6, 2024</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 15, 2024, the Company issued <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241015__20241015__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zuR7uOjnemg5" title="Number of shares issued">18,000</span> shares of common stock to its prior Chief Executive Officer at $<span id="xdx_907_eus-gaap--SharePrice_iI_pid_c20241015__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zOyi4B7bo1Ti" title="Shares price">5.00</span> per share in satisfaction of a bonus obligation and issued <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241015__20241015__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zjRtbF5P4mGd" title="Number of shares issued">40,000</span> shares of common stock as inducement for continued services after the Merger.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the terms of the Debt Exchange Agreement on October 7, 2024, the Company issued a total of <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241007__20241007__dei--LegalEntityAxis__custom--WilliamEspingMember_z0ipHwPjrA81" title="Number of shares issued"><span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241007__20241007__dei--LegalEntityAxis__custom--WPEKidsPartnersMember_zIpNf1uHs3sj" title="Number of shares issued"><span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241007__20241007__dei--LegalEntityAxis__custom--RobertGrammenMember_zzhJhXZFXXW4" title="Number of shares issued">19,000</span></span></span> shares of common stock to Esping, WPE and Grammen, and Eastside was released from liability for $<span id="xdx_901_eus-gaap--UnsecuredDebt_iI_pn5n6_c20241007__dei--LegalEntityAxis__custom--EastsideDistillingLLCMember_z2muCsLtatDe" title="Unsecured debt">0.2</span> million of unsecured debt. In addition, the Company converted <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20241007__20251007__dei--LegalEntityAxis__custom--EastsideDistillingLLCMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zBKlmmNKI1m8" title="Unsecured debt">200,000</span> shares of its Series C Preferred Stock owned by the SPV to <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20241007__20241007__dei--LegalEntityAxis__custom--EastsideDistillingLLCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zYmqxnaucMrg" title="Unsecured debt">183,784</span> shares of its common stock. The Investors of the SPV subsequently surrendered for cancellation to the Company <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20241007__20241007__dei--LegalEntityAxis__custom--BridgetownSpiritsCorpMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zWd94mMGivH1" title="Unsecured debt">98,777</span> shares of its common stock for Bridgetown Spirits and Craft C+P representing a net amount of (<span id="xdx_909_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20241007__20241007__dei--LegalEntityAxis__custom--BridgetownSpiritsCorpMember_zbl0LfTTtAug" title="Number of shares issued">79,767</span>) shares. <i>See Note 5 – Debt Exchange Agreement.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During November 2024, the Company entered into Securities Purchase Agreements for the sale of securities consisting of <span id="xdx_903_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20241101__20241130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zEHWpW5ffsH1" title="Sale of stock, shares">68,621</span> shares of common stock for gross proceeds of $<span id="xdx_90F_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_pn5n6_c20241101__20241130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zOxUPEVGOZt6" title="Sale of stock shares, value">0.4</span> million before deducting the expenses of the offering.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2024, Eastside issued <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensation_pid_c20240101__20241231__srt--TitleOfIndividualAxis__srt--DirectorMember__dei--LegalEntityAxis__custom--EastsideDistillingIncMember_zpLDrJUzlnU4" title="Issuance of stock for stock-based compensation, shares">176</span> shares of common stock to a director to settle $<span id="xdx_90C_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_c20240101__20241231__srt--TitleOfIndividualAxis__srt--DirectorMember__dei--LegalEntityAxis__custom--EastsideDistillingIncMember_zHyJuPP7O2O4" title="Accrued compensation">5,379</span> of accrued compensation. The shares were issued at a contractually agreed upon price of $<span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20241231__srt--TitleOfIndividualAxis__srt--DirectorMember__dei--LegalEntityAxis__custom--EastsideDistillingIncMember_zGFHnGYgqJR7" title="Shares issued per share">30.50</span> per share. For accounting purposes, the shares were valued at $<span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231__srt--TitleOfIndividualAxis__srt--DirectorMember__dei--LegalEntityAxis__custom--EastsideDistillingIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--DeferredCompensationShareBasedPaymentsMember_z9BzTxwNaKd8" title="Share value per share">11.60</span> per share based upon the closing price on the date of grant for stock-based compensation of $<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_c20241231__srt--TitleOfIndividualAxis__srt--DirectorMember__dei--LegalEntityAxis__custom--EastsideDistillingIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--DeferredCompensationShareBasedPaymentsMember_zihaqSkLBFKf" title="Share based compensation grant">2,046</span>. During the year ended December 31, 2024, Eastside issued <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensation_pid_c20240101__20241231__srt--TitleOfIndividualAxis__custom--EmployeeMember__dei--LegalEntityAxis__custom--EastsideDistillingIncMember_zhJDNSAVPa39" title="Issuance of stock for stock-based compensation, shares">5,574</span> shares of common stock to employees and a consultant for stock-based compensation of $<span id="xdx_907_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20240101__20241231__srt--TitleOfIndividualAxis__custom--EmployeeMember__dei--LegalEntityAxis__custom--EastsideDistillingIncMember_zXdVKTyOidl1" title="Accrued compensation">0.1</span> million at $<span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231__srt--TitleOfIndividualAxis__custom--EmployeeMember__dei--LegalEntityAxis__custom--EastsideDistillingIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--DeferredCompensationShareBasedPaymentsMember_zUL6aE5zu78i" title="Share value per share">12.10</span> per share.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2024, the Company issued dividends of <span id="xdx_908_ecustom--DividendsPreferredStockShares_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z1m1gJKNvJuc" title="Shares of common stock">17,773</span> shares of common stock at $<span id="xdx_909_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zHz74w35IxUc" title="Share price">8.44</span> per share to its Series B Preferred stockholders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>ELOC Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 31, 2024, the Company entered into entered into a Common Stock Purchase Agreement and related Registration Rights Agreement (collectively, the “ELOC Agreement”) with an institutional investor (the “Purchaser”) pursuant to which the Company agreed to sell, and the Purchaser agreed to purchase, up to $<span id="xdx_909_eus-gaap--CommonStockValue_iI_pn6n6_c20241231__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_zNh60RDPkOq4">35</span> million of the Company’s common stock, subject to a sale limit of <span id="xdx_90A_ecustom--CommonStockSubjectToSaleLimitPercentage_pid_dp_uPure_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_zlU1MMp4MF7f" title="Common stock, subject to a sale limit percentage">19.99</span>% of the outstanding shares of the Company’s common stock</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 7, 2025, <span id="xdx_90C_eus-gaap--SaleOfStockDescriptionOfTransaction_c20250307__20250307__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_zZQaoUXqjKp8">the Company entered into an Amended ELOC Agreement to reduce the maximum amount under the ELOC Agreement from $35 million to $10 million. On September 8, 2025, the Company again amended the ELOC Agreement to increase the commitment amount by $10 million, to maximum total sales of up to $20 million, and to remove minimum closing price conditions for effecting purchases under the ELOC Agreement. As a result, the Company may sell up to $12.5 million under the ELOC Agreement (after giving effect to prior sales) beginning after January 11, 2026</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, <i>see Note 25 – Subsequent Events</i>. During the year ended December 31, 2025, the Company sold and issued a total of <span id="xdx_907_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_z9oqwPFxo035">5,694,515</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of common stock for an aggregate purchase price of $<span id="xdx_904_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_zCkM9BhV3zXc">7.5</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million to the Purchaser. The Company recorded offering costs as a charge to additional pain-in capital that related to the ELOC Agreement of $<span id="xdx_902_eus-gaap--PaymentsOfDebtIssuanceCosts_pn5n6_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_z2s4fIUz4bD6">0.5</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million as of December 31, 2025. <i>See Note 25, Subsequent Events for sales under the ELOC in 2026.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Preferred Stock</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has <span id="xdx_90F_eus-gaap--PreferredStockSharesAuthorized_iI_pn6n6_c20251231_z24rmCl5Eg9f" title="Preferred stock, shares authorized">100</span> million shares of preferred stock authorized at a par value of $<span id="xdx_90F_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20251231_zf0XsIJNDXy4" title="Preferred stock, par value">0.0001</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Issuance of Series A Preferred Stock</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 23, 2025, the Company entered into an agreement with a holder of and effected the exchange of <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250723__20250723__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember_zzE80dUGk86k" title="Issuance of stock, shares">8,356,151</span> shares of Series F Preferred Stock and <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250723__20250723__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesFOnePreferredStockMember_zf9iMOi25RIf" title="Issuance of stock, shares">68,951</span> shares of Series F-1 Preferred Stock of the Company in exchange for the issuance to the holder of <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250723__20250723__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertibleRedeemablePreferredStockMember_zbtFJsTjCkfa" title="Issuance of stock, shares">8,425,102</span> shares of a newly designated Series A Convertible Redeemable Preferred Stock (the “Series A Preferred Stock”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 23, 2025, the Company filed a Certificate of Designation, Preferences and Rights of the Series A Convertible Redeemable Preferred Stock of the Company (the “Certificate of Designations”) with the Nevada Secretary of State designating and authorizing the issuance of up to <span id="xdx_902_eus-gaap--PreferredStockSharesAuthorized_iI_pid_c20250723__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertibleRedeemablePreferredStockMember__srt--RangeAxis__srt--MaximumMember_zWBFg1zEcyRi" title="Preferred stock, shares designating and authorized">8,425,102</span> shares of Series A Preferred Stock. Each share of Series A Preferred Stock has a stated value of $<span id="xdx_901_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20250723__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertibleRedeemablePreferredStockMember_zykXRMk1EH89" title="Preferred stock, par value">0.50</span>. Beginning on the initial issuance date of the Series A Preferred Stock, the holder may convert up to $<span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20250723__20250723__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertibleRedeemablePreferredStockMember__srt--RangeAxis__srt--MaximumMember_z4DgOIsun6Te" title="Issuance of stock">1.0</span> million in stated value of Series A Preferred Stock (the “Special Conversion Amount”) at a conversion price of $<span id="xdx_901_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20250723__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertibleRedeemablePreferredStockMember_zqwgtJaWKkf4" title="Preferred stock, convertible conversion price">1.75</span> per share, subject to adjustment as provided therein and subject to beneficial ownership limitations. The conversion price is subject to customary adjustments including for reverse stock splits, forward stock splits, and similar corporate events, and is also subject to price protection adjustment in connection with subsequent sales or issuances of securities at a per-share price that is lower than the conversion price, subject to certain exceptions and limitations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beginning on the issuance date of the Series A Preferred Stock on July 23, 2025 and for a period of one-year thereafter, the Company has the right to redeem the shares of Series A Preferred Stock, other than the Special Conversion Amount, at a redemption price of $<span id="xdx_90F_eus-gaap--PreferredStockRedemptionPricePerShare_iI_pid_c20250723__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertibleRedeemablePreferredStockMember_zfHb4QYuNxu5" title="Preferred stock, redemption price per share">2.00</span> per underlying share of common stock (based on the $<span id="xdx_90D_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20250723__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertibleRedeemablePreferredStockMember_z4iDGbq5XNI" title="Preferred stock, convertible conversion price">1.75</span> per share conversion price, subject to adjustment). At the end of the one-year redemption period, all remaining shares of Series A Preferred Stock (in addition to the Special Conversion Amount) will become convertible at the option of the holder.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each share of Series A Preferred Stock is convertible into common stock by a conversion ratio equal to the stated value of the Series A Preferred Stock share divided by the Series A Preferred Stock conversion price. The Series A Preferred Stock is entitled to vote with the Company’s common stock on an as-converted basis, subject to the <span id="xdx_902_ecustom--BeneficialOwnershipConversionPercentage_iI_pid_dp_uPure_c20250723__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zjxoFIbHUbDg" title="Beneficial ownership conversion percentage">4.99</span>% beneficial ownership limitation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2025, <span id="xdx_90B_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_iI_pid_c20251231__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertibleRedeemablePreferredStockMember_zfUjVRa9O7wj">2,000,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of Series A Preferred Stock were converted into <span id="xdx_905_eus-gaap--ConversionOfStockSharesIssued1_pid_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zQTb76Q5ksg4">571,428</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of common stock, <i>see Note 25 – Subsequent Events</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Issuance of Series B Preferred Stock</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 19, 2021, the Company entered into a securities purchase agreement (“Purchase Agreement”) with an accredited investor for its purchase of <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pn5n6_c20211018__20211019__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zCBVnjIM04Ug" title="Number of shares available for purchase">2.5</span> million shares (“Preferred Shares”) of Series B Convertible Preferred Stock (“Series B Preferred Stock”) at a purchase price of $<span id="xdx_901_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20211019__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_ztGZyvxLq1je" title="Preferred stock par value">1.00</span> per Preferred Share, which Preferred Shares are convertible into shares of the Company’s common stock pursuant to the terms and conditions set forth in a Certificate of Designation Establishing Series B Preferred Stock of the Company with an initial conversion price of $<span id="xdx_90C_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20211019__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zyaakq7kEmq1" title="Conversion price per share">620.00</span> per share. <span id="xdx_901_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pid_c20211019__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zpTUpIsEjAr1" title="Common stock were reserved for issuance">4,250</span> shares of common stock were reserved for issuance in the event of conversion of the Preferred Shares. The holder of Series B has voting rights on an as-converted basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Series B Preferred Stock accrues dividends at a rate of <span id="xdx_90F_eus-gaap--PreferredStockDividendRatePercentage_pid_dp_uPure_c20211018__20211019__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zyVQcC9Uju0c">6</span>% per annum, payable annually on the last day of December of each year. Dividends shall accrue from day to day, whether or not declared, and shall be cumulative. Dividends are payable at the Company’s option either in cash or “in kind” in shares of common stock; provided, however that dividends may only be paid in cash following the fiscal year in which the Company has net income (as shown in its audited financial statements contained in its Annual Report on Form 10-K for such year) of at least $<span id="xdx_901_eus-gaap--NetIncomeLoss_pn5n6_c20211018__20211019__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zSCZWEPGeIZi">0.5</span> million. For “in-kind” dividends, holders will receive that number of shares of common stock equal to (i) the amount of the dividend payment due such stockholder divided by (ii) the volume weighted average price of the common stock for the 90 trading days immediately preceding a dividend date (“VWAP”). For both the years ended December 31, 2025 and 2024, the Company accrued $<span id="xdx_901_eus-gaap--DividendsPreferredStock_pn5n6_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zIM94UZgm4ve" title="Preferred dividends"><span id="xdx_903_eus-gaap--DividendsPreferredStock_pn5n6_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zremXRqu4Hqi" title="Preferred dividends">0.2</span></span> million of preferred dividends. During the year ended December 31, 2025, the Company issued dividends of <span id="xdx_901_ecustom--DividendsPreferredStockShares_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z8R20NK1DqE2" title="Shares of common stock">58,079</span> shares of common stock computed using a VWAP of $<span id="xdx_90C_eus-gaap--SharePrice_iI_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zrSpIXvTAnb3" title="Share price">2.58</span> per share. During the year ended December 31, 2024, the Company issued dividends of <span id="xdx_906_ecustom--DividendsPreferredStockShares_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zQGepOPkyNJ" title="Shares of common stock">17,773</span> shares of common stock computed using a VWAP of $<span id="xdx_90D_eus-gaap--SharePrice_iI_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zR7WgRG6hj3c" title="Share price">8.44</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Issuance of Series C Preferred Stock</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2024, the SPV converted <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--DebtSatisfactionAgreementMember_zaH7cQBIembf" title="Number of shares converted">200,000</span> shares of its Series C Preferred Stock into <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--TypeOfArrangementAxis__custom--DebtSatisfactionAgreementMember_zl6CJ5xikSYf" title="Number of shares converted">183,784</span> shares of common stock, <i>see Note 5 – Debt Exchange Agreement</i>. In January 2025, the Certificate of Designation was withdrawn for the Series C Preferred Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Issuance of Series D Preferred Stock</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each share of Series D Preferred Stock has a stated value of $<span id="xdx_90F_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20241007__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--DebtExchangeAgreementMember_zecaow0ib8kd">10.00</span> and is convertible into shares of the Company’s common stock pursuant to the terms and conditions set forth in a Certificate of Designation establishing Series D Preferred Stock with an initial conversion price of $<span id="xdx_902_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20241007__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--DebtExchangeAgreementMember_z6p87A5t3jS3">18.00</span> per share. Each share of Series D Preferred Stock is convertible into common stock by a conversion ratio equal to the stated value of the Series D Preferred Stock share divided by the Series D Preferred Stock conversion price. In the event that the Company declares a dividend payable in cash or stock to holders of any class of the Company’s stock (including the Series B Preferred Stock), the holder of a share of Series D Preferred Stock will be entitled to receive an equivalent dividend on an as-converted basis. In the event of a liquidation of the Company, the holders of Series D Preferred Stock will share in the distribution of the Company’s net assets on an as-converted basis equally with the Series C Preferred Stock and Series E Preferred Stock, subordinate only to the senior position of the Series B Preferred Stock. The number of shares of common stock into which a holder may convert Series D Preferred Stock is limited by a beneficial ownership limitation of <span id="xdx_906_ecustom--BeneficialOwnershipConversionPercentage_iI_pid_dp_uPure_c20241007__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_z7mNIDfoyd52" title="Beneficial ownership conversion percentage">9.99</span>%. The Series D Preferred Stock conversion price and the floor price will be subject to equitable adjustment in the event of stock splits, reverse splits and similar events. The Series D Preferred Stock is non-voting. In January 2026, the Certificate of Designation was withdrawn for the Series D Preferred Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the terms of the Debt Exchange Agreement on October 7, 2024, the Company issued a total of <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241007__20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--BiggerAndDistrict2Member__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_z48mIsx3xmGk" title="Shares issued">255,474</span> shares of Series D Preferred Stock to Bigger and District 2, and they released the Company from liability for $<span id="xdx_90B_eus-gaap--UnsecuredDebt_iI_pn5n6_c20241007__us-gaap--TypeOfArrangementAxis__custom--DebtAgreementMember__dei--LegalEntityAxis__custom--BiggerAndDistrict2Member__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_zjP5g2hDHkhh" title="Senior unsecured debt">2.6</span> million of unsecured debt. <i>See Note 5 – Debt Exchange Agreement.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In conjunction with the Senior Secured Notes entered into on November 14, 2024, the Company entered in a side letters with Bigger and District 2 to each convert $<span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_pn5n6_c20241114__20241114__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--SeniorSecuredNotesMember_zYAwsnV1GHAg" title="Number of shares converted, value">0.3</span> million of Series D Preferred Stock beginning on April 7, 2025 at a conversion price equal to the lower of $<span id="xdx_90F_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20241114__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--DebtExchangeAgreementMember_z4zsTCciCPPb" title="Conversion price">5.00</span> per share or the five-day VWAP price ending on April 7, 2025, but not less than $<span id="xdx_901_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20241114__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--SeniorSecuredNotesMember_zSd8nxxcbpc3" title="Shares issued price">2.50</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2025, <span id="xdx_902_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_iI_pid_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--SeniorSecuredNotesMember_zhbjiBURWZkc" title="Conversion of shares">255,474</span> shares of Series D Preferred Stock were converted into <span id="xdx_90A_eus-gaap--ConversionOfStockSharesIssued1_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zCj3eujO32V1" title="Conversion of shares">371,559</span> shares of common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Issuance of Series E Preferred Stock</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each share of Series E Preferred Stock has a stated value of $<span id="xdx_907_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20241007__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesEPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--DebtExchangeAgreementMember_zl2iGmSvzAgd" title="Preferred Stock, par value">10.00</span> and is convertible into shares of the Company’s common stock pursuant to the terms and conditions set forth in a Certificate of Designation establishing Series E Preferred Stock with an initial conversion price of $<span id="xdx_901_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20241007__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesEPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--DebtExchangeAgreementMember__us-gaap--AwardTypeAxis__custom--AdjustmentOnOctoberThirtyOneTwoThousandTwentyFiveMember_znpABHUtjYng" title="Initial conversion price">20.00</span>, subject to an automatic adjustment on October 31, 2025 equal to the average of the VWAPs for the five trading days immediately preceding the Measurement Date (390 days after the closing under the Debt Exchange Agreement), subject to a “Floor Price” of $<span id="xdx_904_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20241007__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesEPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--DebtExchangeAgreementMember_z4pBRu3bHL9k" title="Initial conversion price">2.50</span> per share. The Series E Preferred Stock conversion price and the floor price will be subject to equitable adjustment in the event of stock splits, reverse splits and similar events. Each share of Series E Preferred Stock is convertible into common stock by a conversion ratio equal to the stated value of the Series E Preferred Stock share divided by the Series E Preferred Stock conversion price. The number of shares of common stock into which a holder may convert Series E Preferred Stock is limited by a beneficial ownership limitation, which restricts the number of shares of common stock that the holder and its affiliates may beneficially own after the conversion to <span id="xdx_908_ecustom--BeneficialOwnershipConversionPercentage_iI_pid_dp_uPure_c20241007__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesEPreferredStockMember_zw2AyC1bf2pi" title="Beneficial ownership conversion percentage">9.99</span>%. The Series E Preferred Stock is non-voting.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the terms of the Debt Exchange Agreement on October 7, 2024, the Company issued a total of <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241007__20241007__us-gaap--TypeOfArrangementAxis__custom--DebtExchangeAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesEPreferredStockMember_z8BeRFXxZgNc" title="Shares issued">200,000</span> shares of Series E Preferred Stock to certain lenders, and they released the Company from liability for $<span id="xdx_900_eus-gaap--UnsecuredDebt_iI_pn5n6_c20241007__us-gaap--TypeOfArrangementAxis__custom--DebtExchangeAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesEPreferredStockMember_zjErvSWIQv7b" title="Senior unsecured debt">2.0</span> million of unsecured debt.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 21, 2025, the Company entered into a letter agreement with the investors pursuant to which they agreed to the redemption of their shares of Series E Preferred Stock in exchange for payment of $<span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost_pn5n6_c20251021__20251021__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MemberOfBoardOfDirectorsMember_zIBNKn2Q1Cpe" title="Payments">2.0</span> million. The Company redeemed the Series E Preferred Stock on November 12, 2025 and recorded a deemed dividend of $<span id="xdx_902_ecustom--DeemedDividend_iI_pn5n6_c20251112_zXXK8VmX9l7g" title="Deemed dividend">1.4</span> million. The deemed dividend was computed as the <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">difference between the redemption cost of $<span id="xdx_909_ecustom--PreferredStockRedemptionPrice_iI_pn5n6_c20251112_zdXMZ0yu7Col" title="Preferred stock redemption cost">2.0</span> million less the original equity recorded upon issuance of $<span id="xdx_900_eus-gaap--PreferredStockValue_iI_pn5n6_c20251112_zUvL11XOkm6d" title="Original value issuance">0.6</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million.</span> The shares were returned to the Company’s treasury and cancelled and subsequently the Certificate of Designation was withdrawn for the Series E Preferred Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Issuance of Series F and F-1 Preferred Stock</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Merger that closed on October 7, 2024, was structured as an all-stock transaction. The stockholders of Beeline Financial received <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20241007__20241007__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember_zOWR4xG3RUvl">69,482,229</span> million preferred shares of Series F and <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20241007__20241007__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zAuuNXmqe7Ck">517,775</span> million preferred shares of Series F-1. Each share of Series F and F-1 Preferred Stock has a stated value of $<span id="xdx_904_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20241007__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zE5Evl1aPZf2">0.50</span> and is convertible into shares of the Company’s common stock pursuant to the terms and conditions set forth in a Certificate of Designation establishing Series F and F-1 Preferred Stock with an initial conversion price of $<span id="xdx_909_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20241007__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zkX0uwSTbOHb">5.00</span> per share. Each share of Series F and F-1 Preferred Stock is convertible into common stock by a conversion ratio equal to the stated value of the Series F and F-1 Preferred Stock share divided by the Series F and F-1 Preferred Stock conversion price. The number of shares of common stock into which a holder may convert Series F and F-1 Preferred Stock is limited by a beneficial ownership limitation, which restricts the number of shares of the Company’s common stock that the holder and its affiliates may beneficially own after the conversion to <span id="xdx_902_ecustom--BeneficialOwnershipConversionPercentage_iI_pid_dp_uPure_c20241007__us-gaap--BusinessAcquisitionAxis__custom--BeelineFinancialHoldingsIncMember__us-gaap--StatementClassOfStockAxis__custom--SeriesF1PreferredStockMember_zMgEXx89nSt7" title="Beneficial ownership conversion percentage">4.99</span>%. That beneficial ownership limitation does not, however, apply to holders who are subject to Section 16 of the Exchange Act by virtue of being an executive officer or director of the Company which presently only applies to the Company’s Chief Executive Officer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Series F and F-1 Preferred Stock was valued at $<span id="xdx_901_eus-gaap--PreferredStockValue_iI_pn5n6_c20241007__us-gaap--StatementClassOfStockAxis__custom--SeriesFAndFOnePreferredStockMember_za3HIncvqpJ7">48.2</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million, <i>see Note 4 - Merger.</i> The conversion of Series F and F-1 Preferred Stock was approved at a special meeting of stockholders on March 7, 2025. During the year ended December 31, 2025, <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesConversionOfUnits_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember_zxfQoYt0quTl">59,214,160</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesConversionOfUnits_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__custom--SeriesFOnePreferredStockMember_zxGjew0DRCFh">437,523</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of Series F and F-1 Preferred Stock, respectively, were converted into <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--StatementClassOfStockAxis__custom--SeriesFAndFOnePreferredStockMember_zpRorKPWwX3i">5,965,178</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of common stock, <i>see Note 25 – Subsequent Events</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 23, 2025, the Company entered into an agreement with a holder of and effected the exchange of <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250723__20250723__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember_zbklAzuu4FO9" title="Issuance of stock, shares">8,356,151</span> shares of Series F Preferred Stock and <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250723__20250723__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesFOnePreferredStockMember_zbuUyuIpNU6l" title="Issuance of stock, shares">68,951</span> shares of Series F-1 Preferred Stock of the Company in exchange for the issuance to the holder of <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250723__20250723__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertibleRedeemablePreferredStockMember_z7le1fnIvSSf" title="Issuance of stock, shares">8,425,102</span> shares of Series A Preferred Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In conjunction with the Senior Secured Notes entered into on November 14, 2024, the Company entered in a side letters which permitted an affiliate who invested $<span id="xdx_904_eus-gaap--SecuredDebt_iI_pn5n6_c20241114__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember_zfbFEsQvHtwi">0.4</span> million to exchange that amount of stated value of shares of Series F Preferred Stock for a $<span id="xdx_90D_eus-gaap--SecuredDebt_iI_pn5n6_c20241114__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember_zJAUlyECFM7f">0.4</span> million 120-day promissory note and has substantially identical terms to the Senior Secured Notes, except it is subordinated with respect to its security interest. This affiliate exchanged <span id="xdx_909_eus-gaap--ConversionOfStockSharesIssued1_pid_c20241114__20241114__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember_z65rIOVoIv0a">896,667</span> shares of Series F Preferred Stock. Additional side letters permitted two investors to each receive <span id="xdx_905_eus-gaap--ConversionOfStockSharesIssued1_pid_c20241114__20241114__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwoInvestorMember_zDmQul0hPRLg">250,000</span> shares of Series F Preferred Stock. The net amount of these side letters was (<span id="xdx_901_eus-gaap--ConversionOfStockSharesIssued1_pid_c20241114__20241114__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesFPreferredStockMember__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredNotesMember_z4p3SIEaAqzg">396,667</span>) shares, <i>see Note 16 – Secured Credit Facilities.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Issuance of Series G Preferred Stock </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each share of Series G Preferred Stock has a stated value of $<span id="xdx_905_eus-gaap--SharePrice_iI_pid_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zC4NEVlMm5I7">0.51</span> and is convertible into shares of the Company’s common stock pursuant to the terms and conditions set forth in a Certificate of Designation establishing Series G Preferred Stock with an initial conversion price of $<span id="xdx_90F_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesEPreferredStockMember_zEZF6thfRVN9">5.10</span> per share. <span id="xdx_90D_eus-gaap--PreferredStockConversionBasis_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zfY2ixSejKbd" title="Preferred stock conversion">The conversion price is subject to adjustment as provided therein including that in the event of an issuance of common stock or common stock equivalents at a price per share that is less than the conversion price, the conversion price then in effect will be reduced to such lower price per share, subject to certain exceptions and to a floor price of 20% of the Nasdaq Minimum Price as of the initial closing date of the offering of such Series G Preferred Stock (see below for triggering event). The result of such provision is that more shares of common stock will be issuable upon conversions of the Series G Preferred Stock if there is a subsequent issuance at a lower price per share. Each share of Series G Preferred Stock is convertible into common stock by a conversion ratio equal to the stated value of the Series G Preferred Stock share divided by the Series G Preferred Stock conversion price. The Series G Preferred Stock conversion price is subject to equitable adjustment in the event of a stock split, reverse split, and similar events. The number of shares of common stock into which a holder may convert Series G Preferred Stock will be limited by a beneficial ownership limitation, which restricts the number of shares of the Company’s common stock that the holder and its affiliates may beneficially own after the conversion to 4.99%. The holder of Series G Preferred Stock has no conversion or voting rights prior to stockholder approval of such actions.</span> In the event of a liquidation of the Company, the holders of Series G Preferred Stock will share in the distribution of the Company’s net assets on an as-converted basis, subordinate only to the Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, and Series E Preferred Stock. The conversion of Series G Preferred Stock was approved at a special meeting of stockholders on March 7, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 25, 2025, the Company filed with the Nevada Secretary of State a Certificate of Amendment to the Series G Preferred Stock Certificate of Designations. The Certificate of Amendment provides that (i) the beneficial ownership limitation on conversion set forth in the Certificate of Designation will not apply to a holder who is otherwise subject to Section 16(a) of the Securities Exchange Act of 1934 by virtue of being an executive officer or director of Company, and (ii) the anti-dilution price protection adjustment rights with respect to subsequent offerings or issuances of securities will not apply to an equity line of credit or at-the-market offering facility or as otherwise determined by the holder(s) of a majority of the Series G Preferred Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2025, the Company sold <span id="xdx_90A_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zLFmAKSt8vD9" title="Sale of stock shares">6,417,159</span> shares of Series G Preferred Stock and five<span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zGZpPBEgvw4e" style="display: none">5</span>-year Warrants to purchase a total of <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zuIoYjHwvKt3">320,862</span> shares of common stock for total gross proceeds of $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_z9COvtoMIqNj" title="Gross proceeds">3.3</span> million. The Company incurred offering costs of $<span id="xdx_905_eus-gaap--DeferredOfferingCosts_iI_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zuEH2wPSjFb2" title="Offering costs">6,270</span> related to the offering. During 2024, the Company sold <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_z9ZZm3t4qeEk" title="Number of shares issued">4,484,314</span> shares of Series G Preferred Stock and <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zjN40kZqCV8i" title="Number of warrants issued">2,242,157</span> five-year Warrants to purchase a total of <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zg0N6gaMeQvc" title="Number of shares issued">448,431</span> shares of common stock for total gross proceeds of $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zVqjviO9FwD6" title="Proceeds from common stock shares issued">2.3</span> million. In addition, in February 2025, the Company’s Chief Executive Officer converted his $<span id="xdx_904_eus-gaap--BridgeLoan_iI_pn5n6_c20250228__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_z3XXiiDaT7cb" title="Bridge loan">0.7</span> million bridge loan into $<span id="xdx_906_eus-gaap--BridgeLoan_iI_pn5n6_c20250228__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zKgA52aDBjp3" title="Bridge loan">0.7</span> million of units comprised of <span id="xdx_909_eus-gaap--ConversionOfStockSharesIssued1_pid_c20250201__20250228__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zvswLytFlzbj" title="Conversion of shares">1,372,549</span> shares of Series G Preferred Stock and five<span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20250228__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zdNyfINDsWsg" style="display: none">5</span>-year Warrants to purchase a total of <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250228__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zs25q34TmAbd" title="Purchase of warrants">68,628</span> shares of common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 25, 2025 (“the trigger date”), the Company sold common shares under the ELOC Agreement at $<span id="xdx_902_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250325__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zZtgUkTBdmcc" title="Sale of stock price per share">1.67</span> per share, which was less than the Series G Preferred Stock original conversion price of $<span id="xdx_901_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20250325__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zn9yVq8bY1th" title="Original conversion price">5.10</span> per share, resulting in the reduction of the conversion price of the Series G Preferred Stock to $<span id="xdx_90D_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250325__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zXG6IqbW5ykg" title="Conversion price per share">1.67</span> per share as a result of the price protection adjustment related to the conversion of the Series G Preferred Stock. The Company recorded a deemed dividend related to the Series G Preferred Stock price protection of $<span id="xdx_904_ecustom--StockIssuedDuringPeriodValueDeemedDividendPriceProtectionRevaluationAdjustment_pn5n6_c20250325__20250325__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zYXF7mQnZ2bb" title="Preferred stock price protection">1.5</span> million. The deemed dividend was computed as the fair value of the embedded conversion option with the reduced conversion price of $<span id="xdx_90E_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250325__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zsFKsD84a5y6" title="Conversion price">1.67</span> less the fair value of the embedded conversion option with the original conversion price of $<span id="xdx_90B_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20250325__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zjCc0DEgQZQ9" title="Original price per share">5.10</span> as computed on the trigger date. See below for the warrant related deemed dividend allocation and assumptions used in the Black-Scholes model.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2025, <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesConversionOfUnits_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zhOdR2a46Q4k">12,435,879</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of Series G Preferred Stock were converted into <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zC9FXYVAmr6j">2,898,044</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of common stock, <i>see Note 25 – Subsequent Events</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2025, the Company issued a consultant <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250101__20250131__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__custom--ConsultantMember_zwtYxxYKMrF5" title="Number of shares issued, shares">245,098</span> shares of Series G Preferred Stock that were issuable as of December 31, 2024. In addition, in January 2025, the Company issued <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20250101__20250131__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zgiBwWSbyk4f" title="New shares issued for past legal service">19,698</span> shares of Series G Preferred Stock for legal services of $<span id="xdx_909_eus-gaap--LegalFees_c20250101__20250131__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zTsVWAUZX0Y4" title="Legal service">10,000</span>. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 31, 2024, the Company issued a consultant <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__custom--ConsultantMember_zMfgPmKt5o7b" title="Number of shares issued">250,000</span> shares of Series G Preferred Stock as consideration for the waiver and release of certain contractual rights under which the Company also paid $<span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__custom--ConsultantMember_z7EBFtAsI6xk" title="Number of shares issued, value">0.1</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 31, 2024, the Company issued <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesEmployeeStockOwnershipPlan_pid_c20240101__20241231__dei--LegalEntityAxis__custom--CapitalMasterFundLPMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zpNUkxPh92U9">573,925</span> shares of Series G Preferred Stock as a commission fee related to the ELOC Agreement and recorded $<span id="xdx_909_eus-gaap--DeferredOfferingCosts_iI_pn5n6_c20241231_zb5xSID51ZBa">0.6</span> million of deferred offering costs included in other assets on the consolidated balance sheets as of December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrants</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2025, the Company sold shares of Series G Preferred Stock and in conjunction issued warrants to purchase a total of <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zD5G9Nk1Yz9i" title="Purchase of shares">320,862</span> shares of common stock. The Company recorded offering costs of $<span id="xdx_90C_eus-gaap--DeferredOfferingCosts_iI_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zdBN1hjaeUrc" title="Offering costs">6,270</span> as of December 31, 2025. In addition, the Company’s Chief Executive Officer converted his $<span id="xdx_90B_eus-gaap--BridgeLoan_iI_pn5n6_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zVzILvhh5ve5">0.7</span> million bridge loan into $<span id="xdx_904_eus-gaap--BridgeLoan_iI_pn5n6_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zY3nYN53jzZ9">0.7</span> million of units comprised of <span id="xdx_900_eus-gaap--ConversionOfStockSharesIssued1_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zpBOQenfriw9" title="Conversion of shares issued">1,372,549</span> shares of Series G Preferred Stock and five-year<span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zKWQnITrAWE6" style="display: none">5</span> Warrants to purchase a total of <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zKSRANAhNwP" title="Warrants purchased">68,628</span> shares. The Warrants have a term of <span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_pid_dc_c20251231_zX8S8d0HI059" title="Warrants term">five years</span> from issuance and are exercisable at an exercise price of $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z1MLA6oTCTEl" title="Purchase of warrant, pre share">6.50</span> per share. During the fourth quarter of 2024, the Company sold shares of Series G Preferred Stock and in conjunction issued warrants to purchase a total of <span id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z3G9atquVgt2" title="Purchase of warrant">224,216</span> shares of common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 11, 2025, in connection with the Securities Purchase Agreement, the Company issued warrants to purchase <span id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20251111__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_znAY0UQ77Jxd" title="Warrants to purchase common stock">277,200</span> shares of common stock exercisable for a five<span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20251111__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zOWblMAQxesb" style="display: none">5</span>-year period at an exercise price of $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20251111__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zJT6HI3n4mab" title="Exercise price">2.48</span> per share. The warrants were treated as an offering cost within additional paid-in capital and had no net accounting effect.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, the Company issued warrants to purchase a total of <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250731__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zS5vePVMHxPj" title="Purchase of warrants">25,000</span> shares of common stock in connection with a settlement. The warrants were exercised in October 2025 at $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250731__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zoI6KOhJaCs7" title="Purchase of warrant, pre share">1.00</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During November 2024, the Company entered into Securities Purchase Agreements for the sale of <span id="xdx_907_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20241101__20241130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zuCgbHqOfNgh" title="Sale of stock issued">68,627</span> shares of common stock and warrants to purchase a total of <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20241130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zH9y8uenxOMl" title="Purchase of warrants">34,332</span> shares of common stock. Each warrant is exercisable to purchase common stock at a price per share of $<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20241130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zPEQM3czO3te" title="Warrants share price">6.50</span>. The holder’s ability to exercise a warrant will terminate on the later of the third anniversary of the issue date for the warrant or the first anniversary of the stockholder approval of an increase in the authorized shares of common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 14, 2024, the Company sold $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20241114__us-gaap--DebtInstrumentAxis__custom--TheNotesMember_zQ0updOO6iS9" title="Principal amount">1.9</span> million in aggregate principal amount of the Notes and Pre-Funded Warrants (the “Warrants”) to purchase a total of <span id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20241114__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zI46LtCSd0d1" title="Purchase of warrants">36,360</span> shares of common stock for net proceeds of $<span id="xdx_904_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pn5n6_c20241114__20241114_zET1zSe8Vr5" title="Net proceeds">1.6</span> million in the applicable offering. The Warrants have a term of <span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_pid_dc_c20241114_zVs6EVNsrf8k" title="Warrants term">five years</span> from issuance and are exercisable at an exercise price of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20241114__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zo9wX1AIti6k" title="Purchase of warrant, pre share">5.00</span> per share (of which all but $<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20241114__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zPVsapHfETZd" title="Purchase of warrant, pre share">0.001</span> per share was pre-funded by each Investor). The Warrants became exercisable on March 7, 2025, upon stockholder approval of the issuance of the common stock upon exercise of the Warrants. If at any time after exercising the Warrants, there is no effective registration statement registering the shares underlying the Warrants, or the prospectus contained therein is not available for use, then the Warrants may also be exercised, in whole or in part, by means of a “cashless exercise.” The Company recorded a debt discount related to the warrants of $<span id="xdx_90C_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zOTDV7unm9Ce" title="Debt discount">24,372</span> as of December 31, 2024, <i>see Note 16 – Secured Credit Facilities</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 16, 2024, the Company entered into a Loan Agreement with the SPV, Aegis, Bigger, District 2, and LDI. With each 2024 Secured Note, the Company issued a Warrant to purchase a share of the Company’s common stock for $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20240516__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourSecuredNotesMember__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__srt--ConsolidatedEntitiesAxis__custom--BiggerDistrictTwoAndLDIMember_zSPREANnl8Rh" title="Warrant exercisable price per share">50.00</span> exercisable for <span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20240516__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourSecuredNotesMember__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__srt--ConsolidatedEntitiesAxis__custom--BiggerDistrictTwoAndLDIMember_zqQIY67BQb14" title="Warrants exercisable term">five years</span> after December 2, 2024 if on November 29, 2024 the 2024 Secured Note issued to the Warrant-holder remains unsatisfied. LDI received a Warrant to purchase <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240516__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourSecuredNotesMember__srt--ConsolidatedEntitiesAxis__custom--LDInvestmentsLLCMember__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember_zgzZMJJ8Khb1" title="Warrant to purchase of shares">59,802</span> shares and each of Bigger and District 2 received a Warrant to purchase <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240516__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourSecuredNotesMember__srt--ConsolidatedEntitiesAxis__custom--DistrictTwoMember__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember_zO7kU0M4yga8" title="Warrant to purchase of shares">29,901</span> shares. The Company recorded a debt discount of $<span id="xdx_900_eus-gaap--PaymentsOfDebtIssuanceCosts_pn5n6_c20240101__20241231_zIkStgowVrD1" title="Debt issuance cost">0.3</span> million as of December 31, 2024. These warrants were cancelled as part of the Debt Exchange Agreement, <i>see Note 5 - Debt Exchange Agreement.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_hus-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_zUCe4tz0pJs7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The estimated fair value of the new warrants issued in 2025 and 2024 was based on a combination of closing market trading price on the date of issuance for the public offering warrants, and the Black-Scholes option-pricing model, using the weighted average assumptions below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8B1_zzaEbXjetUL" style="display: none">SCHEDULE OF FAIR VALUE OF WARRANTS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Volatility</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MinimumMember_zrq1Rf3vsjRa" title="Warrant, measurement input">100</span>-<span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MaximumMember_z37JphLsH9Rg" title="Warrant, measurement input">161</span></span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_zvKPstwbCOV" style="width: 14%; text-align: right" title="Warrant, measurement input">100</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MinimumMember_zFaRwbEhcRg9" title="Warrant, measurement input">3.68</span> - <span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MaximumMember_zintG6ZfrXzi" title="Warrant, measurement input">4.46</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_zEpQOxmnIO8k" style="text-align: right" title="Warrant, measurement input">4.29</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_pid_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MinimumMember_zYE38TYWXGH3" title="Warrant, measurement input term">4.00</span>-<span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_pid_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MaximumMember_zf0XiIRCVBIc" title="Warrant, measurement input term">5.00</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_z3qoBnol4az5" style="text-align: right" title="Warrant, measurement input">4.83</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_zYTsBVVUCuG1" style="text-align: right" title="Warrant, measurement input"><span style="-sec-ix-hidden: xdx2ixbrl2858">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_z465N8MowBw" style="text-align: right" title="Warrant, measurement input"><span style="-sec-ix-hidden: xdx2ixbrl2860">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Grant-date fair value of common stock</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_903_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MinimumMember_zjIl5R700HF" title="Warrant, measurement input">0.66</span> - $<span id="xdx_902_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MaximumMember_z3tkonj6gmS" title="Warrant, measurement input">8.60</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_zPXghMr1Xerk" style="text-align: right" title="Warrant, measurement input">4.76</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AE_zLcTNFNA12cf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zoubqRzQWiVj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of all Warrant share activity as of and for the years ended December 31, 2025 and 2024 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BB_zqE76n2oWb4i" style="display: none">SCHEDULE OF WARRANT ACTIVITY</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrant Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted-Average Remaining Life (Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted-Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value (in millions)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-weight: bold; padding-bottom: 2.5pt">Outstanding as of December 31, 2023</td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20240101__20241231_zfPxVwjkGmHd" style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right" title="Warrants, Outstanding, Beginning balance">20,167</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right"><span id="xdx_906_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20230101__20231231_z5b8v2H4ZoXk" title="Weighted-Average Remaining Life (Years), Outstanding">3.8</span></td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left">$</td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231_zwPqoZ2BqOM6" style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right" title="Weighted-Average Exercise Price, Outstanding, Beginning balance">348.70</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20240101__20241231_zbgifakkA2c1" style="text-align: right" title="Warrants, Granted">414,494</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageRemainingContractualTerm_dtY_c20240101__20241231_z2gJMTtAghq4" title="Weighted-Average Remaining Life (Years), Granted">4.6</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageExercisePrice_pid_c20240101__20241231_zFdRtKF3YPqg" style="text-align: right" title="Weighted-Average Exercise Price, Granted">18.90</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsGrantedIntrinsicValue_iI_pn5n6_c20241231_zlnFMJVuWyki" style="text-align: right" title="Aggregate Intrinsic Value, Granted">1.0</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_iN_pid_di_c20240101__20241231_zGQPSFbc06E6" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(119,605</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitedAndCancelledWeightedAverageRemainingContractualTerm_dtY_c20240101__20241231_zmZqh69Birdg" title="Weighted-Average Remaining Life (Years), Expired">4.3</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitedAndCancelledWeightedAverageExercisePrice_pid_c20240101__20241231_zD6MkMVMvhia" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-Average Exercise Price, Expired">50.00</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Outstanding as of December 31, 2024</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20250101__20251231_ztNmJXqlgShc" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Warrants, Outstanding, Beginning balance">315,056</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20240101__20241231_zNN8r5XNcg22" title="Weighted-Average Remaining Life (Years), Outstanding">4.6</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20251231_zV8tLT2MG3pi" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted-Average Exercise Price, Outstanding, Beginning balance">28.20</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingIntrinsicValue_iS_pn5n6_c20250101__20251231_zfPeiZ4VgLsa" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Aggregate Intrinsic Value, Outstanding, Beginning balance">1.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Additions due to price protection adjustment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsAdditionsDueToPriceProtectionAdjustment_pid_c20250101__20251231_zEEtJUl9JOg3" style="text-align: right" title="Warrants, Additions due to price protection adjustment">5,430,468</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageAdditionsDueToPriceProtectionAdjustmentRemainingContractualTerm_dtY_c20250101__20251231_z1INU4rjzaU5" title="Weighted-Average Remaining Life (Years), Warrants">4.3</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsAdditionsDueToPriceProtectionAdjustmentWeightedAverageExercisePrice_pid_c20250101__20251231_z3xEAlFYJ4Jk" style="text-align: right" title="Weighted-Average Exercise Price, Warrants">0.66</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsAdditionsDueToPriceProtectionAdjustmentIntrinsicValue_iI_pn5n6_c20251231_zYIZrzgFZ62j" style="text-align: right" title="Aggregate Intrinsic Value, Additions due to price protection adjustment">5.8</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Issued with Series G Preferred Stock units sold</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsIssuedWithSeriesGPreferredStockUnitsSold_pid_c20250101__20251231_zVw2dkK4Fnw" style="text-align: right" title="Warrants, Issued with Series G Preferred Stock units sold">389,490</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageIssuedWithSeriesGPreferredStockUnitsSoldRemainingContractualTerm_dtY_c20250101__20251231_zMXcLzWn6Ene" title="Weighted-Average Remaining Life (Years), Issued with Series G Preferred Stock units sold">4.0</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedIssuedWithSeriesGPreferredStockUnitsSoldWeightedAverageExercisePrice_pid_c20250101__20251231_zXM7m9jaTshh" style="text-align: right" title="Weighted-Average Exercise Price, Issued with Series G Preferred Stock units sold">0.66</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsIssuedWithSeriesGPreferredStockUnitsSoldGrantedIntrinsicValue_iI_pn5n6_c20251231_z6gH1wIRaP3h" style="text-align: right" title="Aggregate Intrinsic Value, Issued with Series G Preferred Stock units sold">0.4</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20250101__20251231_zvhlDilVDs71" style="text-align: right" title="Warrants, Granted">302,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageRemainingContractualTerm_dtY_c20250101__20251231_zgWu3MDWqJmd" title="Weighted-Average Remaining Life (Years), Granted">4.7</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageExercisePrice_pid_c20250101__20251231_zJ2xiHBKV7s9" style="text-align: right" title="Weighted-Average Exercise Price, Granted">2.36</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_pid_di_c20250101__20251231_zXMGAYjaHSIh" style="text-align: right" title="Warrants, Exercised">(25,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisedWeightedAverageExercisePrice_pid_c20250101__20251231_zpqnnmFbPKA8" style="text-align: right" title="Weighted-Average Exercise Price, Exercised">1.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_iN_pid_di_c20250101__20251231_zOrPEnhag8ik" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(1,083</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitedAndCancelledWeightedAverageExercisePrice_pid_c20250101__20251231_zM955WYXaFD5" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-Average Exercise Price, Expired">(767.54</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Outstanding as of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20250101__20251231_zygA00A3L1da" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Warrants, Outstanding, Ending balance">6,411,131</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_907_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20250101__20251231_zf2PF4ulo2Wf" title="Weighted-Average Remaining Life (Years), Outstanding">4.1</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20251231_z5EszcrIvD2a" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted-Average Exercise Price, Outstanding, Ending balance">1.76</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingIntrinsicValue_iE_pn5n6_c20250101__20251231_z2Rijl1qUAHl" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Aggregate Intrinsic Value, Outstanding, Ending balance">6.4</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zUou79pFCIn5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 25, 2025, the Company sold shares under the ELOC Agreement at $<span id="xdx_903_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250325__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zYhtquMWqGsg">1.67</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per share, which was less than the exercise price of the Warrants issued in the Company’s Series G Preferred Stock offering, resulting in the reduction of the exercise price of the warrants to $<span id="xdx_907_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250325__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zvOqKwyy2QN1">1.67</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per share and an increase in common shares issuable upon exercise of <span id="xdx_902_eus-gaap--ConversionOfStockSharesIssued1_pid_c20250325__20250325__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zYtd5SnZQvVi">1,774,986</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">under the full price protection adjustment of the Warrants. On June 16, 2025, the Company sold shares under the ELOC Agreement at $<span id="xdx_90A_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250616__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zyN3CoLCAb5h">0.66</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per share, which was less than the exercise price of the Warrants adjusted in March 2025, resulting in the reduction of the exercise price of the warrants to $<span id="xdx_909_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250616__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zOcZE80qgkDe">0.66</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per share and an increase in common shares issuable upon exercise of <span id="xdx_901_eus-gaap--ConversionOfStockSharesIssued1_pid_c20250616__20250616__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zYQ8NN9tz2O7">3,655,482</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">under the full price protection adjustment of the Warrants. The Company recorded an additional deemed dividend related to the Warrants’ price protection of $<span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstanding_iI_pn5n6_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zY3TiZzdWjH">5.3</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million for the year ended December 31, 2025, <i>see Note 25 – Subsequent Events</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Beeline Warrants</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the Merger Agreement in 2024, the Company agreed to assume <span id="xdx_900_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20241231_z8yqepaPIJH7" title="Warrant, outstanding">5,868</span> outstanding Beeline Warrants with an exercise price of $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20241231_zdbgBBxZCC42" title="Warrant, exercise price">231.20</span> per share. The new Warrants have not been issued as of the date of this Report.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.0001 100000000 6000000 1-for-10 13115 100000 1000000.0 747221 10000 1.43 14300 25000 25000 25000 1.00 462331 1700000 91315 200000 4620000 1.60 7400000 800000 58079 2.58 200000 5907698 8300000 400000 9806209 9282 10.00 9.999 34920 0.001 2024-09-06 18000 5.00 40000 19000 19000 19000 200000 200000 183784 98777 79767 68621 400000 176 5379 30.50 11.60 2046 5574 100000 12.10 17773 8.44 35000000 0.1999 the Company entered into an Amended ELOC Agreement to reduce the maximum amount under the ELOC Agreement from $35 million to $10 million. On September 8, 2025, the Company again amended the ELOC Agreement to increase the commitment amount by $10 million, to maximum total sales of up to $20 million, and to remove minimum closing price conditions for effecting purchases under the ELOC Agreement. As a result, the Company may sell up to $12.5 million under the ELOC Agreement (after giving effect to prior sales) beginning after January 11, 2026 5694515 7500000 500000 100000000 0.0001 8356151 68951 8425102 8425102 0.50 1000000.0 1.75 2.00 1.75 0.0499 2000000 571428 2500000 1.00 620.00 4250 0.06 500000 200000 200000 58079 2.58 17773 8.44 200000 183784 10.00 18.00 0.0999 255474 2600000 300000 5.00 2.50 255474 371559 10.00 20.00 2.50 0.0999 200000 2000000.0 2000000.0 1400000 2000000.0 600000 69482229 517775 0.50 5.00 0.0499 48200000 59214160 437523 5965178 8356151 68951 8425102 400000 400000 896667 250000 396667 0.51 5.10 The conversion price is subject to adjustment as provided therein including that in the event of an issuance of common stock or common stock equivalents at a price per share that is less than the conversion price, the conversion price then in effect will be reduced to such lower price per share, subject to certain exceptions and to a floor price of 20% of the Nasdaq Minimum Price as of the initial closing date of the offering of such Series G Preferred Stock (see below for triggering event). The result of such provision is that more shares of common stock will be issuable upon conversions of the Series G Preferred Stock if there is a subsequent issuance at a lower price per share. Each share of Series G Preferred Stock is convertible into common stock by a conversion ratio equal to the stated value of the Series G Preferred Stock share divided by the Series G Preferred Stock conversion price. The Series G Preferred Stock conversion price is subject to equitable adjustment in the event of a stock split, reverse split, and similar events. The number of shares of common stock into which a holder may convert Series G Preferred Stock will be limited by a beneficial ownership limitation, which restricts the number of shares of the Company’s common stock that the holder and its affiliates may beneficially own after the conversion to 4.99%. The holder of Series G Preferred Stock has no conversion or voting rights prior to stockholder approval of such actions. 6417159 P5Y 320862 3300000 6270 4484314 2242157 448431 2300000 700000 700000 1372549 P5Y 68628 1.67 5.10 1.67 1500000 1.67 5.10 12435879 2898044 245098 19698 10000 250000 100000 573925 600000 320862 6270 700000 700000 1372549 P5Y 68628 P5Y 6.50 224216 277200 P5Y 2.48 25000 1.00 68627 34332 6.50 1900000 36360 1600000 P5Y 5.00 0.001 24372 50.00 P5Y 59802 29901 300000 <p id="xdx_896_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_hus-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_zUCe4tz0pJs7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The estimated fair value of the new warrants issued in 2025 and 2024 was based on a combination of closing market trading price on the date of issuance for the public offering warrants, and the Black-Scholes option-pricing model, using the weighted average assumptions below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8B1_zzaEbXjetUL" style="display: none">SCHEDULE OF FAIR VALUE OF WARRANTS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Volatility</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MinimumMember_zrq1Rf3vsjRa" title="Warrant, measurement input">100</span>-<span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MaximumMember_z37JphLsH9Rg" title="Warrant, measurement input">161</span></span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_zvKPstwbCOV" style="width: 14%; text-align: right" title="Warrant, measurement input">100</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MinimumMember_zFaRwbEhcRg9" title="Warrant, measurement input">3.68</span> - <span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MaximumMember_zintG6ZfrXzi" title="Warrant, measurement input">4.46</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_zEpQOxmnIO8k" style="text-align: right" title="Warrant, measurement input">4.29</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_pid_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MinimumMember_zYE38TYWXGH3" title="Warrant, measurement input term">4.00</span>-<span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_pid_dtY_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MaximumMember_zf0XiIRCVBIc" title="Warrant, measurement input term">5.00</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_z3qoBnol4az5" style="text-align: right" title="Warrant, measurement input">4.83</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_zYTsBVVUCuG1" style="text-align: right" title="Warrant, measurement input"><span style="-sec-ix-hidden: xdx2ixbrl2858">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_z465N8MowBw" style="text-align: right" title="Warrant, measurement input"><span style="-sec-ix-hidden: xdx2ixbrl2860">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Grant-date fair value of common stock</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span id="xdx_903_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MinimumMember_zjIl5R700HF" title="Warrant, measurement input">0.66</span> - $<span id="xdx_902_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MaximumMember_z3tkonj6gmS" title="Warrant, measurement input">8.60</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20241231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_zPXghMr1Xerk" style="text-align: right" title="Warrant, measurement input">4.76</td><td style="text-align: left"> </td></tr> </table> 100 161 100 3.68 4.46 4.29 P4Y P5Y 4.83 0.66 8.60 4.76 <p id="xdx_894_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zoubqRzQWiVj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of all Warrant share activity as of and for the years ended December 31, 2025 and 2024 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BB_zqE76n2oWb4i" style="display: none">SCHEDULE OF WARRANT ACTIVITY</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrant Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted-Average Remaining Life (Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted-Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value (in millions)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-weight: bold; padding-bottom: 2.5pt">Outstanding as of December 31, 2023</td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20240101__20241231_zfPxVwjkGmHd" style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right" title="Warrants, Outstanding, Beginning balance">20,167</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right"><span id="xdx_906_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20230101__20231231_z5b8v2H4ZoXk" title="Weighted-Average Remaining Life (Years), Outstanding">3.8</span></td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left">$</td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231_zwPqoZ2BqOM6" style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right" title="Weighted-Average Exercise Price, Outstanding, Beginning balance">348.70</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20240101__20241231_zbgifakkA2c1" style="text-align: right" title="Warrants, Granted">414,494</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageRemainingContractualTerm_dtY_c20240101__20241231_z2gJMTtAghq4" title="Weighted-Average Remaining Life (Years), Granted">4.6</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageExercisePrice_pid_c20240101__20241231_zFdRtKF3YPqg" style="text-align: right" title="Weighted-Average Exercise Price, Granted">18.90</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsGrantedIntrinsicValue_iI_pn5n6_c20241231_zlnFMJVuWyki" style="text-align: right" title="Aggregate Intrinsic Value, Granted">1.0</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_iN_pid_di_c20240101__20241231_zGQPSFbc06E6" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(119,605</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitedAndCancelledWeightedAverageRemainingContractualTerm_dtY_c20240101__20241231_zmZqh69Birdg" title="Weighted-Average Remaining Life (Years), Expired">4.3</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitedAndCancelledWeightedAverageExercisePrice_pid_c20240101__20241231_zD6MkMVMvhia" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-Average Exercise Price, Expired">50.00</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Outstanding as of December 31, 2024</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20250101__20251231_ztNmJXqlgShc" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Warrants, Outstanding, Beginning balance">315,056</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20240101__20241231_zNN8r5XNcg22" title="Weighted-Average Remaining Life (Years), Outstanding">4.6</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20251231_zV8tLT2MG3pi" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted-Average Exercise Price, Outstanding, Beginning balance">28.20</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingIntrinsicValue_iS_pn5n6_c20250101__20251231_zfPeiZ4VgLsa" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Aggregate Intrinsic Value, Outstanding, Beginning balance">1.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Additions due to price protection adjustment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsAdditionsDueToPriceProtectionAdjustment_pid_c20250101__20251231_zEEtJUl9JOg3" style="text-align: right" title="Warrants, Additions due to price protection adjustment">5,430,468</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageAdditionsDueToPriceProtectionAdjustmentRemainingContractualTerm_dtY_c20250101__20251231_z1INU4rjzaU5" title="Weighted-Average Remaining Life (Years), Warrants">4.3</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsAdditionsDueToPriceProtectionAdjustmentWeightedAverageExercisePrice_pid_c20250101__20251231_z3xEAlFYJ4Jk" style="text-align: right" title="Weighted-Average Exercise Price, Warrants">0.66</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsAdditionsDueToPriceProtectionAdjustmentIntrinsicValue_iI_pn5n6_c20251231_zYIZrzgFZ62j" style="text-align: right" title="Aggregate Intrinsic Value, Additions due to price protection adjustment">5.8</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Issued with Series G Preferred Stock units sold</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsIssuedWithSeriesGPreferredStockUnitsSold_pid_c20250101__20251231_zVw2dkK4Fnw" style="text-align: right" title="Warrants, Issued with Series G Preferred Stock units sold">389,490</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageIssuedWithSeriesGPreferredStockUnitsSoldRemainingContractualTerm_dtY_c20250101__20251231_zMXcLzWn6Ene" title="Weighted-Average Remaining Life (Years), Issued with Series G Preferred Stock units sold">4.0</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedIssuedWithSeriesGPreferredStockUnitsSoldWeightedAverageExercisePrice_pid_c20250101__20251231_zXM7m9jaTshh" style="text-align: right" title="Weighted-Average Exercise Price, Issued with Series G Preferred Stock units sold">0.66</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsIssuedWithSeriesGPreferredStockUnitsSoldGrantedIntrinsicValue_iI_pn5n6_c20251231_z6gH1wIRaP3h" style="text-align: right" title="Aggregate Intrinsic Value, Issued with Series G Preferred Stock units sold">0.4</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20250101__20251231_zvhlDilVDs71" style="text-align: right" title="Warrants, Granted">302,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageRemainingContractualTerm_dtY_c20250101__20251231_zgWu3MDWqJmd" title="Weighted-Average Remaining Life (Years), Granted">4.7</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageExercisePrice_pid_c20250101__20251231_zJ2xiHBKV7s9" style="text-align: right" title="Weighted-Average Exercise Price, Granted">2.36</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_pid_di_c20250101__20251231_zXMGAYjaHSIh" style="text-align: right" title="Warrants, Exercised">(25,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisedWeightedAverageExercisePrice_pid_c20250101__20251231_zpqnnmFbPKA8" style="text-align: right" title="Weighted-Average Exercise Price, Exercised">1.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_iN_pid_di_c20250101__20251231_zOrPEnhag8ik" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants, Expired">(1,083</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitedAndCancelledWeightedAverageExercisePrice_pid_c20250101__20251231_zM955WYXaFD5" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-Average Exercise Price, Expired">(767.54</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Outstanding as of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20250101__20251231_zygA00A3L1da" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Warrants, Outstanding, Ending balance">6,411,131</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_907_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20250101__20251231_zf2PF4ulo2Wf" title="Weighted-Average Remaining Life (Years), Outstanding">4.1</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20251231_z5EszcrIvD2a" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted-Average Exercise Price, Outstanding, Ending balance">1.76</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingIntrinsicValue_iE_pn5n6_c20250101__20251231_z2Rijl1qUAHl" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Aggregate Intrinsic Value, Outstanding, Ending balance">6.4</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 20167 P3Y9M18D 348.70 414494 P4Y7M6D 18.90 1000000.0 119605 P4Y3M18D 50.00 315056 P4Y7M6D 28.20 1000000.0 5430468 P4Y3M18D 0.66 5800000 389490 P4Y 0.66 400000 302200 P4Y8M12D 2.36 25000 1.00 1083 -767.54 6411131 P4Y1M6D 1.76 6400000 1.67 1.67 1774986 0.66 0.66 3655482 5300000 5868 231.20 <p id="xdx_802_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_z39TyMpHiKZk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>19. <span id="xdx_828_zG0X42YC83G5">STOCK-BASED COMPENSATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 8, 2016, the Company adopted the 2016 Equity Incentive Plan (the “2016 Plan”). As of December 31, 2025 and 2024, there were <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_pid_c20251231__us-gaap--AwardTypeAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember_z6AyEK4HlJl7" title="Option outstanding">29</span> and <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_pid_c20241231__us-gaap--AwardTypeAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember_zcKOTF4Xlu7i" title="Option outstanding">104</span> options outstanding under the 2016 Plan, respectively. On February 6, 2025, the 2016 Plan was terminated and replaced with the 2025 Plan, and on August 1, 2025 the Board of Directors adopted the 2025 Plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>2025 Equity Incentive Plan</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The 2025 Plan initially authorized <span id="xdx_90E_eus-gaap--CommonStockSharesAuthorized_iI_pid_c20250801__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveEquityIncentivePlanMember_zKSqtlvVeVE3" title="Common stock, shares authorized">4,588,802</span> shares of common stock, which was equal to 15% of the outstanding shares of common stock on a fully-diluted basis available for award under the 2025 Plan. The 2025 Plan provides for an annual increase to such available number of shares by 5% of the shares of common stock outstanding on a fully-diluted basis each year for a period of seven years, with the first such increase to occur on January 1, 2026. The 2025 Plan provides for the issuance of incentive stock options, non-statutory stock options, share appreciation rights, restricted shares, restricted share units, and other share-based awards. Awards generally vest based on continued service over periods ranging from one to three years. Stock options generally have a contractual term of ten years from the grant date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Stock Options</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zl6HgjfkW1Kh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of all stock option activity as of and for the years ended December 31, 2025 and 2024 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_znsbmZCdFOz9" style="display: none">SCHEDULE OF STOCK OPTIONS ACTIVITY</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"># of Options</td><td style="text-align: center; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted-Average Remaining Life (Years)</td> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted-<br/> Average<br/> Exercise Price</td><td style="text-align: center; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="text-align: center; margin-top: 0; margin-bottom: 0">Aggregate Intrinsic Value (in millions)</p> </td> <td style="padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; font-weight: bold; padding-bottom: 2.5pt">Outstanding as of December 31, 2023</td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240101__20241231_zoIVbIBjbWJ1" style="border-bottom: Black 2.5pt double; width: 10%; font-weight: bold; text-align: right" title="Number of Options, Outstanding, Beginning balance">212</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 10%"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zjjpkATOgFj8" title="Exercisable Weighted-Average Remaining Life (Years)">0.3</span></td> <td style="width: 1%"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231_zuOm8qiXZIcg" style="border-bottom: Black 2.5pt double; width: 10%; font-weight: bold; text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">579.50</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%">$</td> <td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20240101__20241231_z6cbjKpc0V51" style="text-align: right; width: 10%" title="Aggregate Intrinsic Value Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl2963">-</span></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Options forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240101__20241231_zydLRJlNmsk9" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Outstanding, Beginning balance">(108</td><td style="padding-bottom: 1pt; text-align: left">)</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_zkXG4PhqKEVf" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">1,215.91</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right">            </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Outstanding as of December 31, 2024</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250101__20251231_zzhzNPCq5ece" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Options, Outstanding, Beginning balance">104</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_zFlijnbOXbD7" title="Exercisable Weighted-Average Remaining Life (Years)">0.2</span></td> <td> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20251231_zsIxjfn9KXx6" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">304.34</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td> </td> <td> </td> <td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20250101__20251231_zSKnSEIzteu5" style="text-align: right" title="Aggregate Intrinsic Value Outstanding"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2975">-</span></span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20251231_zJhbYOOP9yS2" style="text-align: right" title="Number of Options, Outstanding, Beginning balance">1,552,000</td><td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231_ziC1ZE4I34Bd" style="text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">0.94</td><td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Options forfeited from 2016 Plan</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250101__20251231_zoZD10JIuRQb" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Outstanding, Beginning balance">(75</td><td style="padding-bottom: 1pt; text-align: left">)</td> <td> </td> <td> </td> <td style="text-align: right">           </td> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231_zUuI94NjPGpe" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">304.39</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td>$</td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding as of December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20251231_zF7nF3xLAKjl" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding, Beginning balance">1,552,029</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><p style="margin: 0">9.4</p></td> <td> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20251231_z5SeAXiMha66" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">0.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td> </td> <td>$</td> <td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn5n6_c20250101__20251231_zgoiGVIL3SM8" style="text-align: right" title="Aggregate Intrinsic Value Outstanding">1.2</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Exercisable as of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250101__20251231_zXi5ykRJxZgd" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Options, Outstanding, Beginning balance">468,029</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><b><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231_zyhZz8BpVbMl" title="Exercisable Weighted-Average Remaining Life (Years)">9.4</span></b></td> <td> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20250101__20251231_zTSbOFbV4Cx" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">0.92</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td> </td> <td>$</td> <td id="xdx_984_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pn5n6_c20250101__20251231_zPNdOyfUBl96" style="text-align: right" title="Aggregate Intrinsic Value Exercisable">0.4</td> <td> </td></tr> </table> <p id="xdx_8AA_zlLezuMWPkkh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, there were <span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iI_c20251231_zhdLSXCcT7E7">1,084,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">unvested options with an aggregate grant date fair value of $<span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_pn5n6_c20250101__20251231_zrPIw63oanOl">3.8</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million. The unvested options will vest in accordance with the vesting schedule in each respective option agreement, which is two years from the grant date. The aggregate intrinsic value of unvested options as of December 31, 2025 was $<span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iI_pn5n6_c20251231_zWvHcvhtZ1D">0.8</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million. During the year ended December 31, 2025, <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iI_c20251231_zG3RZgV1yhqe">468,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">options vested.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company uses the Black-Scholes valuation model to measure the grant-date fair value of stock options. The grant-date fair value of stock options issued to employees is recognized on a straight-line basis over the requisite service period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To determine the fair value of stock options using the Black-Scholes valuation model, the calculation takes into consideration the effect of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercise price of the option</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value of the common stock on the date of grant</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected term of the option</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected volatility over the expected term of the option</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk-free interest rate for the expected term of the option</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The calculation includes several assumptions that require management’s judgment. The expected term of the options is calculated using the simplified method described in GAAP. The simplified method defines the expected term as the average of the contractual term and the vesting period. Estimated volatility is derived from volatility calculated using historical closing prices of common shares of similar entities whose share prices are publicly available for the expected term of the options. The risk-free interest rate is based on the U.S. Treasury constant maturities in effect at the time of grant for the expected term of the options.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zgafSgTRIzua" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following assumptions were used in the Black-Scholes valuation model for options granted during the year ended December 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B4_zwD2qNwoQc33" style="display: none">SCHEDULE OF FAIR VALUE OF WARRANTS</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%">Volatility</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate_pid_dp_uPure_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MinimumMember_z4xVbkpKQa3i" title="Volatility, measurement input">138</span>-<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate_pid_dp_uPure_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MaximumMember_zMJVOF2XHXb8" title="Volatility, measurement input">163</span></span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_uPure_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MinimumMember_zqAtGsabpdk4" title="Risk-free interest rate, measurement input">3.76</span>% - <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_uPure_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MaximumMember_zhjRbJK3t257" title="Risk-free interest rate, measurement input">4.13</span></span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember_zp36m4ioKpOf" title="Expected term (in years), measurement input term">5.17</span>-<span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MaximumMember_zo9uPWVhCTTh" title="Expected term (in years), measurement input term">5.75</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_uPure_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zRS37jkPVtu8" style="text-align: right" title="Expected dividend yield, measurement input"><span style="-sec-ix-hidden: xdx2ixbrl3017">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercise price of common stock</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__srt--RangeAxis__srt--MinimumMember_zMNrjU11NqT5" title="Exercise price of common stock, measurement input">0.92</span> - $<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__srt--RangeAxis__srt--MaximumMember_z8fyhUdKSEK2" title="Exercise price of common stock, measurement input">1.51</span></span></td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A5_zJcRvy7IJwa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The weighted-average grant-date fair value per share of stock options granted during the year ended December 31, 2025 was $<span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231_ziUIHhCD2FF7" title="Weighted-average grant-date fair value per share">3.52</span> per share. The aggregate grant date fair value of the <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20251231_zwLxNgY2Qmda" title="Aggregate grant date fair value">1,552,000</span> options granted during the year ended December 31, 2025 was $<span id="xdx_90D_eus-gaap--StockGrantedDuringPeriodValueSharebasedCompensationGross_pn5n6_c20250101__20251231_zOwZaQ1HgEJ3" title="Number of options granted, value">5.5</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year ended December 31, 2025, net compensation expense related to stock options was $<span id="xdx_90B_eus-gaap--StockOptionPlanExpense_pn5n6_c20250101__20251231_ziHvxPjflb6l" title="Net compensation expense related to stock options">2.5</span> million and included in compensation, commissions and benefits in the consolidated statements of operations. As of December 31, 2025, the total compensation expense related to stock options not yet recognized is $<span id="xdx_901_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20251231_zHaZ3kOE4psj" title="Stock options not yet recognized">3.0</span> million, which is expected to be recognized over a weighted-average period of <span id="xdx_906_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250101__20251231_zrtCkZFsd1Wb" title="Recognized weighted-average period">0.86</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>See Note 25, Subsequent Events for stock option activity in 2026.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Restricted Stock Awards</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted stock awards (“RSAs”) represent issued shares of common stock that vest based on continued service. Compensation cost is measured based on the grant-date fair value of the Company’s common stock and recognized over the vesting period. Unvested RSAs are subject to forfeiture and are not considered outstanding for earnings per share purposes until vested.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_hus-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zklOB5z8ZR0i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of all RSA activity as of and for the year ended December 31, 2025 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_z08y0naztVWe">SUMMARY OF ALL RSA ACTIVITY</span><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"># of RSAs</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted-Average<br/> Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Unvested as of December 31, 2023</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zMbMdKWwedH3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, of RSAs, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3037">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zSLn8yHGTrzl" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Weighted-Average Fair Value, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3039">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Unvested as of December 31, 2024</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zLUlGtEKJhfl" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Unvested, of RSAs, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3041">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zVNYT4E7F4vc" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Weighted-Average Fair Value, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3043">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zsh5p1d6zEVd" style="width: 14%; text-align: right" title="Granted, Unvested, of RSAs, shares">553,647</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_z2YDGLmqDosj" style="width: 14%; text-align: right" title="Weighted-Average Fair Value, granted">3.58</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Released</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zEhEE09husOd" style="border-bottom: Black 1pt solid; text-align: right" title="Released, Unvested, of RSAs, shares">(260,482</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_iN_pid_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_z3FpwwuW5MCl" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-Average Fair Value, released">(3.76</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Unvested as of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zFfyYKMGSNW" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Unvested, of RSAs, ending balance">293,165</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_z8im8JAcW5m3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Weighted-Average Fair Value, ending balance">3.42</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zh0DDwBNpXT1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-based compensation expense related to RSAs for the year ended December 31, 2025 was $<span id="xdx_908_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zIoJlWSAIvH" title="Stock-based compensation expense">1.2</span> million and included in general and administrative expenses in the consolidated statements of operations. The total value of RSA grants was $<span><span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueRestrictedStockAwardGross_pn5n6_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zAhObeb3ZbRi" title="Restricted stock awards granted">1.9</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million for the year ended December 31, 2025. </span> As of December 31, 2025, total unrecognized compensation cost related to unvested RSAs was $<span id="xdx_901_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zZnGRYHn4iAk" title="Unrecognized compensation cost">0.7</span> million, which is expected to be recognized over a weighted-average period of <span id="xdx_90B_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_pid_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zRCZmFIVBUv8" title="Recognized over a weighted-average period">1.24</span> years and included in additional paid-in capital on the consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Restricted Stock Units</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted stock units (“RSUs”) generally vest based on performance targets or continued service over a period of time and represent the right to receive one share of the Company’s common stock for each RSU that vests. The grant-date fair value of RSUs is measured based on the closing price of the Company’s common stock on the grant date. The Company accounts for forfeitures as they occur.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_hus-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmsoMmKvqaO4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of all RSU activity as of and for the year ended December 31, 2025 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zRqPbXjT2bQa">SUMMARY OF ALL RSU ACTIVITY</span><b> </b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"># of RSUs</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted-Average<br/> Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Unvested as of December 31, 2023</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z7HjMAfiMW82" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, of RSUs, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3067">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zNHHtJCEFQ9" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Weighted-Average Fair Value, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3069">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Unvested as of December 31, 2024</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zljSgy2HeLCi" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Unvested, of RSUs, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3071">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxL89ki0bNHc" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Weighted-Average Fair Value, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3073">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; padding-bottom: 1pt">Granted</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zreti62t0maf" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Granted, Unvested, of RSAs, shares">190,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJdfZ2WKIse8" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Weighted-Average Fair Value, granted">3.48</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Unvested as of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJWjpGHyWEo5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Unvested, of RSUs, ending balance">190,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zrkPtCEiTqW9" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Weighted-Average Fair Value, ending balance">3.48</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zSuvXsdOnpHg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-based compensation expense related to RSUs for the year ended December 31, 2025 of $<span id="xdx_905_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__custom--StatementOfIncomeLocationBalanceAxis__custom--GeneralAndAdministrativeExpensesMember_zj4JiOjkYr21">0.4</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million was included in general and administrative expenses and $<span id="xdx_901_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zziza2zn9tT8">0.1</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million was included in compensation, commissions and benefits in the consolidated statements of operations. The total value of RSU grants was $<span id="xdx_905_eus-gaap--StockGrantedDuringPeriodValueSharebasedCompensation_pn5n6_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_znRdqU9Z9n59" title="Restricted stock units granted">0.7</span> million for the year ended December 31, 2025. As of December 31, 2025, total unrecognized compensation cost related to unvested RSAs was $<span id="xdx_901_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zJTpFX6kGUyk" title="Compensation not yet recognized">0.2</span> million. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">RSUs are settled in shares of the Company’s common stock upon vesting. Shares withheld to satisfy employee tax withholding obligations are accounted for as equity transactions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>See Note 25, Subsequent Events for RSU activity in 2026.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 29 104 4588802 <p id="xdx_893_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zl6HgjfkW1Kh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of all stock option activity as of and for the years ended December 31, 2025 and 2024 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_znsbmZCdFOz9" style="display: none">SCHEDULE OF STOCK OPTIONS ACTIVITY</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"># of Options</td><td style="text-align: center; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted-Average Remaining Life (Years)</td> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted-<br/> Average<br/> Exercise Price</td><td style="text-align: center; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="text-align: center; margin-top: 0; margin-bottom: 0">Aggregate Intrinsic Value (in millions)</p> </td> <td style="padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; font-weight: bold; padding-bottom: 2.5pt">Outstanding as of December 31, 2023</td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240101__20241231_zoIVbIBjbWJ1" style="border-bottom: Black 2.5pt double; width: 10%; font-weight: bold; text-align: right" title="Number of Options, Outstanding, Beginning balance">212</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 10%"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zjjpkATOgFj8" title="Exercisable Weighted-Average Remaining Life (Years)">0.3</span></td> <td style="width: 1%"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240101__20241231_zuOm8qiXZIcg" style="border-bottom: Black 2.5pt double; width: 10%; font-weight: bold; text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">579.50</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%">$</td> <td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20240101__20241231_z6cbjKpc0V51" style="text-align: right; width: 10%" title="Aggregate Intrinsic Value Outstanding"><span style="-sec-ix-hidden: xdx2ixbrl2963">-</span></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Options forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240101__20241231_zydLRJlNmsk9" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Outstanding, Beginning balance">(108</td><td style="padding-bottom: 1pt; text-align: left">)</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240101__20241231_zkXG4PhqKEVf" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">1,215.91</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right">            </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Outstanding as of December 31, 2024</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250101__20251231_zzhzNPCq5ece" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Options, Outstanding, Beginning balance">104</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_zFlijnbOXbD7" title="Exercisable Weighted-Average Remaining Life (Years)">0.2</span></td> <td> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250101__20251231_zsIxjfn9KXx6" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">304.34</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td> </td> <td> </td> <td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20250101__20251231_zSKnSEIzteu5" style="text-align: right" title="Aggregate Intrinsic Value Outstanding"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl2975">-</span></span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20251231_zJhbYOOP9yS2" style="text-align: right" title="Number of Options, Outstanding, Beginning balance">1,552,000</td><td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231_ziC1ZE4I34Bd" style="text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">0.94</td><td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Options forfeited from 2016 Plan</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250101__20251231_zoZD10JIuRQb" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Outstanding, Beginning balance">(75</td><td style="padding-bottom: 1pt; text-align: left">)</td> <td> </td> <td> </td> <td style="text-align: right">           </td> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20250101__20251231_zUuI94NjPGpe" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">304.39</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td>$</td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding as of December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20251231_zF7nF3xLAKjl" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding, Beginning balance">1,552,029</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><p style="margin: 0">9.4</p></td> <td> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250101__20251231_z5SeAXiMha66" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">0.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td> </td> <td>$</td> <td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn5n6_c20250101__20251231_zgoiGVIL3SM8" style="text-align: right" title="Aggregate Intrinsic Value Outstanding">1.2</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Exercisable as of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250101__20251231_zXi5ykRJxZgd" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Number of Options, Outstanding, Beginning balance">468,029</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><b><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231_zyhZz8BpVbMl" title="Exercisable Weighted-Average Remaining Life (Years)">9.4</span></b></td> <td> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20250101__20251231_zTSbOFbV4Cx" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted- Average Exercise Price, Outstanding, Beginning balance">0.92</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td> </td> <td>$</td> <td id="xdx_984_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pn5n6_c20250101__20251231_zPNdOyfUBl96" style="text-align: right" title="Aggregate Intrinsic Value Exercisable">0.4</td> <td> </td></tr> </table> 212 P0Y3M18D 579.50 108 1215.91 104 P0Y2M12D 304.34 1552000 0.94 75 304.39 1552029 0.95 1200000 468029 P9Y4M24D 0.92 400000 1084000 3800000 800000 468000 <p id="xdx_89B_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zgafSgTRIzua" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following assumptions were used in the Black-Scholes valuation model for options granted during the year ended December 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B4_zwD2qNwoQc33" style="display: none">SCHEDULE OF FAIR VALUE OF WARRANTS</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%">Volatility</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate_pid_dp_uPure_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MinimumMember_z4xVbkpKQa3i" title="Volatility, measurement input">138</span>-<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate_pid_dp_uPure_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MaximumMember_zMJVOF2XHXb8" title="Volatility, measurement input">163</span></span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_uPure_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MinimumMember_zqAtGsabpdk4" title="Risk-free interest rate, measurement input">3.76</span>% - <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_uPure_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MaximumMember_zhjRbJK3t257" title="Risk-free interest rate, measurement input">4.13</span></span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember_zp36m4ioKpOf" title="Expected term (in years), measurement input term">5.17</span>-<span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_pid_dtY_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MaximumMember_zo9uPWVhCTTh" title="Expected term (in years), measurement input term">5.75</span></span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_uPure_c20250101__20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zRS37jkPVtu8" style="text-align: right" title="Expected dividend yield, measurement input"><span style="-sec-ix-hidden: xdx2ixbrl3017">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercise price of common stock</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__srt--RangeAxis__srt--MinimumMember_zMNrjU11NqT5" title="Exercise price of common stock, measurement input">0.92</span> - $<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__srt--RangeAxis__srt--MaximumMember_z8fyhUdKSEK2" title="Exercise price of common stock, measurement input">1.51</span></span></td><td style="text-align: left"> </td></tr> </table> 1.38 1.63 3.76 4.13 P5Y2M1D P5Y9M 0.92 1.51 3.52 1552000 5500000 2500000 3000000.0 P0Y10M9D <p id="xdx_892_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_hus-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zklOB5z8ZR0i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of all RSA activity as of and for the year ended December 31, 2025 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_z08y0naztVWe">SUMMARY OF ALL RSA ACTIVITY</span><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"># of RSAs</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted-Average<br/> Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Unvested as of December 31, 2023</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zMbMdKWwedH3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, of RSAs, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3037">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zSLn8yHGTrzl" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Weighted-Average Fair Value, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3039">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Unvested as of December 31, 2024</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zLUlGtEKJhfl" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Unvested, of RSAs, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3041">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zVNYT4E7F4vc" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Weighted-Average Fair Value, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3043">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zsh5p1d6zEVd" style="width: 14%; text-align: right" title="Granted, Unvested, of RSAs, shares">553,647</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_z2YDGLmqDosj" style="width: 14%; text-align: right" title="Weighted-Average Fair Value, granted">3.58</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Released</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zEhEE09husOd" style="border-bottom: Black 1pt solid; text-align: right" title="Released, Unvested, of RSAs, shares">(260,482</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_iN_pid_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_z3FpwwuW5MCl" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-Average Fair Value, released">(3.76</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Unvested as of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_zFfyYKMGSNW" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Unvested, of RSAs, ending balance">293,165</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsRSAMember_z8im8JAcW5m3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Weighted-Average Fair Value, ending balance">3.42</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 553647000 3.58 260482000 3.76 293165000 3.42 1200000 1900000 700000 P1Y2M26D <p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_hus-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmsoMmKvqaO4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of all RSU activity as of and for the year ended December 31, 2025 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zRqPbXjT2bQa">SUMMARY OF ALL RSU ACTIVITY</span><b> </b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"># of RSUs</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted-Average<br/> Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Unvested as of December 31, 2023</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z7HjMAfiMW82" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, of RSUs, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3067">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zNHHtJCEFQ9" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Weighted-Average Fair Value, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3069">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Unvested as of December 31, 2024</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zljSgy2HeLCi" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Unvested, of RSUs, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3071">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxL89ki0bNHc" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Weighted-Average Fair Value, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl3073">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; padding-bottom: 1pt">Granted</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zreti62t0maf" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Granted, Unvested, of RSAs, shares">190,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJdfZ2WKIse8" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Weighted-Average Fair Value, granted">3.48</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Unvested as of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJWjpGHyWEo5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Unvested, of RSUs, ending balance">190,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zrkPtCEiTqW9" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Unvested, Weighted-Average Fair Value, ending balance">3.48</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 190000000 3.48 190000000 3.48 400000 100000 700000 200000 <p id="xdx_809_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zdCFQxh7QUgl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>20. <span id="xdx_826_z4GzPerZMvS2">COMMITMENTS AND CONTINGENCIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Legal Matters</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except as set forth below, the Company is not currently subject to any other material legal proceedings; however, it could be subject to legal proceedings and claims from time to time in the ordinary course of its business, or legal proceedings it considered immaterial may in the future become material. Regardless of the outcome, litigation can, among other things, be time consuming and expensive to resolve, and can divert management resources.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 7, 2025, Mendez et. al. v. Optimal Blue, LLC, et. al. filed a class action complaint against 28 defendants, of which Beeline Loans is included as a defendant in the US District Court, Middle District of Tennessee. On February 23, 2026, the plaintiffs filed an amended complaint removing 17 defendants, adding additional plaintiffs and adding additional description of Optimal Blue’s products to the complaint. Beeline Loans remains a defendant in the amended complaint. The complaint alleges Beeline Loans’ use of Optimal Blue’s pricing software violated federal antitrust laws. The Company intends to defend the case vigorously. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 1, 2023, Sandstrom Partners, Inc. filed a complaint in the Circuit Court of the State of Oregon for the County of Multnomah alleging the Company failed to pay for its services pursuant to an agreement entered into on October 16, 2019. The complaint sought damages of $<span id="xdx_90B_eus-gaap--LossContingencyDamagesSoughtValue_pn5n6_c20230301__20230301__dei--LegalEntityAxis__custom--SandstromPartnersIncMember_zGL9mVFBomyh" title="Loss contingency damages seek value">0.2</span> million, plus a judicial declaration, due to Eastside’s failure to pay for the services. Eastside believed that it paid for services rendered. On October 28, 2024, Eastside signed a term sheet to settle the case for $<span id="xdx_90F_eus-gaap--LossContingencyDamagesSoughtValue_pn5n6_c20240101__20241231__dei--LegalEntityAxis__custom--SandstromPartnersIncMember_zXU4cvhopqMc" title="Loss contingency damages seek value">0.1</span> million paid in 2024 and $<span id="xdx_907_eus-gaap--LossContingencyDamagesSoughtValue_pn5n6_c20250201__20250228__dei--LegalEntityAxis__custom--SandstromPartnersIncMember_zdEerrOuVNI5" title="Loss contingency damages seek value">0.1</span> million in stock to be paid of <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250201__20250228__dei--LegalEntityAxis__custom--SandstromPartnersIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z3NmOV6hHu36" title="Shares issued">13,115</span> shares of common stock that was subsequently issued in February 2025. These settlement expenses were included in general and administrative expenses in the consolidated statements of operations and comprehensive loss for the year ended December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Government Regulations Affecting Mortgage Loan Origination</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline Financial operates in a heavily regulated industry that is highly focused on consumer protection. The extensive regulatory framework to which Beeline Financial is subject includes U.S. federal and state laws and regulations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Governmental authorities and various U.S. federal and state agencies have broad oversight and supervisory authority over all aspects of Beeline Financial’s business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), the Consumer Financial Protection Bureau (the “CFPB”) was established to ensure, among other things, that consumers receive clear and accurate disclosures regarding financial products and to protect consumers from hidden fees and unfair, deceptive or abusive acts or practices. The CFPB’s jurisdiction includes those persons producing or brokering residential mortgage loans. It also extends to Beeline Financial’s other lines of business title insurance. The CFPB has broad supervisory and enforcement powers with regard to non-depository institutions, such as Beeline Financial, that engage in the production and servicing of home loans.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following discussion should be read in conjunction with the efforts of the Trump Administration to shut down the CFPB. Presently, there is a lower federal court order enjoining the efforts to eliminate the CFPB, although the order has been appealed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As part of its enforcement authority, the CFPB can order, among other things, rescission or reformation of contracts, the refund of moneys or the return of real property, restitution, disgorgement or compensation for unjust enrichment, the payment of damages or other monetary relief, public notifications regarding violations, remediation of practices, external compliance monitoring and civil money penalties. The CFPB has been active in investigations and enforcement actions and has issued large civil money penalties since its inception to parties the CFPB determines have violated the laws and regulations it enforces.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective October 1, 2022, the CFPB revised the definition of a qualified mortgage (“QM”) which permits mortgage lenders to gain a presumption of compliance with the CFPB’s ability to repay requirements if a loan meets certain underwriting criteria. Lenders are now required to comply with a new QM definition in order to receive a safe-harbor or rebuttable presumption of compliance under the ability-to-repay requirements of the Truth in Lending Act (“TILA”) and its implementing Regulation Z. The revision to the QM definition created additional compliance burdens and removed some of the legal certainties afforded to lenders under the prior QM definition. Specifically, the revised QM rule eliminated the previous requirement limiting QMs to a 43% debt-to-income ratio (“DTI”) and replaced it with pricing-based thresholds. Loans at 150 basis points or less over the average prime offer rate (“APOR”) as of the date the interest rate is set, receive a safe harbor presumption of compliance, while loans between 151 and 225 basis points over the APOR benefit from a rebuttable presumption of compliance. The new rule also created new requirements for a lender to “consider” and “verify” a borrower’s income and debts and associated DTI, along with several other underwriting requirements. Additionally, the new QM definition eliminated a path to regulatory compliance that was available for originating loans that were eligible to be sold to GSEs, which was heavily relied upon by a large segment of the mortgage industry. Due to the transition to the new QM definition, there may be residual compliance and legal risks associated with the implementation of these new underwriting obligations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The CFPB’s loan originator compensation rule prohibits compensating loan originators based on a term of a transaction, prohibits loan originators from receiving compensation directly from a consumer or another person in connection with the same transaction, imposes certain loan originator qualification and identification requirements, and imposes certain loan originator compensation recordkeeping requirements, among other things.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline Financial is also supervised by regulatory agencies under state law. From time-to-time, Beeline Financial receives examination requests from the states in which Beeline Financial is licensed. State attorneys general, state mortgage licensing regulators, state insurance departments, and state and local consumer protection offices have authority to investigate consumer complaints and to commence investigations and other formal and informal proceedings regarding Beeline Financial’s operations and activities. In addition, the government-sponsored enterprises, or GSEs, the Federal Housing Authority (the “FHA”), the Federal Trade Commission (the “FTC”), and others subject Beeline Financial to periodic reviews and audits. This broad and extensive supervisory and enforcement oversight will continue to occur in the future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline Financial maintains dedicated staff on the legal and compliance team to ensure timely responses to regulatory examination requests and to investigate consumer complaints in accordance with regulatory regulations and expectations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 200000 100000 100000 13115 <p id="xdx_800_eus-gaap--ConcentrationRiskDisclosureTextBlock_zUG2EdJpW1ak" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>21. <span id="xdx_828_zh7q177xsNQb">CONCENTRATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains cash balances with several regional banks. The deposits are insured by the Federal Deposit Insurance Corporation up to $<span id="xdx_90B_eus-gaap--CashFDICInsuredAmount_iI_c20251231_zYC7QFMzM4he" title="FDIC insured amount">250,000</span> per depositor per bank. At various times throughout the year, cash balances held within these accounts may exceed the maximum insured amounts. As of December 31, 2025, there were two accounts that exceeded the limit by $<span id="xdx_907_eus-gaap--CashUninsuredAmount_iI_pn5n6_c20251231_zIxZreqTv6r2" title="Cash uninsured amount">2.6</span> million. As of December 31, 2024, there was two accounts that exceeded the limit by $<span id="xdx_907_eus-gaap--CashUninsuredAmount_iI_pn5n6_c20241231_zxDPQFBkTl65" title="Cash uninsured amount">2.4</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company previously relied on one lender for the warehouse line it uses to fund the mortgage loans it makes to its customers, which was limited to a maximum of $<span id="xdx_904_eus-gaap--GainLossOnSaleOfMortgageLoans_pn5n6_c20250101__20251231__srt--TitleOfIndividualAxis__custom--CustomerMember__srt--RangeAxis__srt--MaximumMember_zp1OCAgCpgba" title="Mortage loans">5.0</span> million, <i>see Note 13 – Warehouse Lines of Credit</i>. In October 2025, the Company expanded its warehouse lines to $<span id="xdx_904_eus-gaap--LineOfCredit_iI_pn5n6_c20251031__us-gaap--LineOfCreditFacilityAxis__custom--LenderMember_zZWAQzaJlloi" title="Line of credit">25.0</span> million tripling its prior $<span id="xdx_909_eus-gaap--LineOfCredit_iI_pn5n6_c20251031__us-gaap--LineOfCreditFacilityAxis__custom--LenderOneMember_zwXpvYIKVs22" title="Line of credit">5.0</span> million line to $<span id="xdx_902_eus-gaap--LineOfCredit_iI_pn5n6_c20251031__us-gaap--LineOfCreditFacilityAxis__custom--LenderTwoMember_zTALQoaPTLsk" title="Line of credit">15.0</span> million and adding two new $<span id="xdx_90D_eus-gaap--LineOfCredit_iI_pn5n6_c20251031__us-gaap--LineOfCreditFacilityAxis__custom--LenderThreeMember_zWnUGgRzpabh" title="Line of credit">5.0</span> million lines with new lenders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company sold its mortgage loans to nine and seven investors for the year ended December 31, 2025 and the period October 8, 2024 – December 31, 2024, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Escrows Payable</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a service to its clients, the Company administers escrow deposits representing undisbursed amounts received for payment of settlement and title services. Escrow deposits held by the Company was $<span id="xdx_903_eus-gaap--EscrowDeposit_iI_pn5n6_c20251231_zqQWTc1N0Qkb" title="Escrow deposit">0.6</span> million as of December 31, 2025. These amounts are not considered assets of the Company and, therefore, are excluded from the consolidated balance sheets. The Company remains contingently liable for the disposition of these deposits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 250000 2600000 2400000 5000000.0 25000000.0 5000000.0 15000000.0 5000000.0 600000 <p id="xdx_80E_eus-gaap--IncomeTaxDisclosureTextBlock_zv19avFTdYYk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>22. <span id="xdx_827_zzfk4XImBjb5">INCOME TAXES</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company adopted ASU 2023-09, <i>Income Taxes (Topic 740): Improvements to Income Tax Disclosures</i>, as of January 1, 2025. The amendments enhanced the transparency of income tax disclosures and did not have a material impact on the Company’s financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains deferred tax assets and liabilities that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_z4qKticPJB2l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The items accounting for the difference between income taxes at the effective statutory rate and the provision for income taxes were as follows for the years ended December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8BC_zcG0EPAtGtTc" style="display: none">SCHEDULE OF PROVISION OF INCOME TAXES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 92%"> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">(Dollars in thousands)</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20251231_zRQemXNRxV4b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="2" id="xdx_49B_20240101__20241231_zGIa3oGq7gn2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td style="text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>%</b></td> <td style="text-align: center"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_pn3n3_hus-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_maITEBz6Qq_zI23hlvjOl1c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Expected federal income tax benefit</td><td style="width: 1%"> </td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">(4,910</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 10%"><p id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maACF_c20250101__20251231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_zoPfElerjXS5" style="margin: 0; text-align: right" title="Expected federal income tax benefit, percent">21.0</p></td> <td style="width: 1%">%</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(2,139</td><td style="width: 1%; text-align: left">)</td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maACF_c20240101__20241231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_zznFqAhEoks9" style="text-align: right; width: 10%" title="Expected federal income tax benefit, percent">16.3</td> <td style="width: 1%">%</td></tr> <tr id="xdx_408_ecustom--IncomeTaxReconciliationStateIncomeTaxesAfterCredits_pn3n3_maITEBz6Qq_zqsSZ6Ic9Nq" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income taxes after credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3130">-</span> </td><td style="text-align: left"> </td><td> </td> <td> </td> <td id="xdx_98C_ecustom--EffectiveIncomeTaxRateStateIncomeTaxesAfterCreditsPercentage_pid_dp_uPure_maACF_c20250101__20251231_fKDEp_z5fGv6hwI4Id" style="text-align: right" title="State income taxes after credits, percentage"><span style="-sec-ix-hidden: xdx2ixbrl3133">-</span></td> <td> </td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,145</td><td style="text-align: left">)</td> <td> </td> <td> </td> <td style="text-align: right"><p id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maACF_c20240101__20241231_fKDEp_zso9dfgdNpej" style="margin: 0; text-align: right" title="State income taxes after credits, percentage">8.8</p></td> <td>%</td></tr> <tr id="xdx_40F_ecustom--IncomeTaxReconciliationChangeInDeferredTaxAssetValuationAllowance_pn3n3_maITEBz6Qq_zlFtPT8DrET7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in allowance</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(7,924</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td> </td> <td id="xdx_980_ecustom--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetValuationAllowancePercentage_pid_dp_uPure_maACF_c20250101__20251231_fKDEp_zV8qT60eLdCe" style="text-align: right" title="Change in allowance, percentage">33.9</td> <td>%</td> <td> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">3,284</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><p id="xdx_98F_ecustom--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetValuationAllowancePercentage_pid_dp_uPure_maACF_c20240101__20241231_fKDEp_zs0DZRxl8DMh" style="margin: 0" title="Change in allowance, percentage">(25.1</p></td> <td>)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><p style="margin: 0">Non-taxable items:</p></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr id="xdx_40C_ecustom--IncomeTaxReconciliationAdjustmentsToPredecessorOperatingLossCarryforwards_pn3n3_maITEBz6Qq_zk3Q6gkFEbO2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><p style="margin: 0pt 0pt 0pt 10pt">Adjustments to predecessor operating loss carryforwards</p></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(2,474</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td> </td> <td style="text-align: right"><p id="xdx_98C_ecustom--EffectiveIncomeTaxReconciliationAdjustmentsToPredecessorOperatingLossCarryforwardsPercentage_pid_dp_uPure_maACF_c20250101__20251231_fKDEp_zVOKeEYviVDg" style="margin: 0" title="Adjustments to predecessor operating loss carryforwards, percentage">10.6</p></td> <td>%</td> <td> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><p style="margin: 0"><span style="-sec-ix-hidden: xdx2ixbrl3145">-</span></p></td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td> </td> <td id="xdx_98A_ecustom--EffectiveIncomeTaxReconciliationAdjustmentsToPredecessorOperatingLossCarryforwardsPercentage_pid_dp_uPure_maACF_c20240101__20241231_fKDEp_zk4bNM2Lt7Sd" style="text-align: right" title="Adjustments to predecessor operating loss carryforwards, percentage"><span style="-sec-ix-hidden: xdx2ixbrl3149">-</span></td> <td> </td></tr> <tr id="xdx_400_ecustom--IncomeTaxReconciliationReturnToProvisionAdjustments_pn3n3_maITEBz6Qq_zisK5De009zf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><p style="margin: 0pt 0pt 0pt 10pt">Return to provision adjustments</p></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><p style="margin: 0pt; text-indent: 0pt">15,032</p></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td> </td> <td style="text-align: right"><p id="xdx_98B_ecustom--EffectiveIncomeTaxReconciliationReturnToProvisionAdjustmentsPercentage_pid_dp_uPure_maACF_c20250101__20251231_fKDEp_zNsiYaaXYVO8" style="margin: 0" title="Return to provision adjustments, percentage">(64.3</p></td> <td>)%</td> <td> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><p style="margin: 0"><span style="-sec-ix-hidden: xdx2ixbrl3152">-</span></p></td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><p id="xdx_987_ecustom--EffectiveIncomeTaxReconciliationReturnToProvisionAdjustmentsPercentage_pid_dp_uPure_maACF_c20240101__20241231_fKDEp_zBSDIMJ9CqK4" style="margin: 0" title="Return to provision adjustments, percentage"><span style="-sec-ix-hidden: xdx2ixbrl3156">-</span></p></td> <td> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBz6Qq_zDGjWup1Uh84" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><p style="margin: 0pt 0pt 0pt 10pt">Other</p></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p style="margin: 0pt; text-indent: 0pt">276</p></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><p id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maACF_c20250101__20251231_fKDEp_zl12GD9XuEB9" style="margin: 0" title="Other, percentage">(1.2</p></td> <td style="padding-bottom: 1pt">)%</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p style="margin: 0"><span style="-sec-ix-hidden: xdx2ixbrl3159">-</span></p></td><td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><p id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maACF_c20240101__20241231_fKDEp_ztOkb5JPeThb" style="margin: 0" title="Other, percentage"><span style="-sec-ix-hidden: xdx2ixbrl3163">-</span></p></td> <td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_mtITEBz6Qq_z9fDWbj6hZ34" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total provision for income taxes</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3165">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td> <td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtACF_c20250101__20251231_zvMzaY7zOoj2" style="border-bottom: Black 2.5pt double; text-align: right" title="Effective tax rate, percent"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl3168">-</span></span></td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3166">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td> <td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtACF_c20240101__20241231_zOxo44hsBZog" style="border-bottom: Black 2.5pt double; text-align: right" title="Effective tax rate, percent"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl3170">-</span></span></td> <td style="padding-bottom: 2.5pt"> </td></tr> </table> <p id="xdx_8AF_zCbt3O5pCzHb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zEc1e2Y1LR7d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s approximate net deferred tax assets (liabilities) were as follows as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span id="xdx_8BB_zEZPSQxEiG68" style="display: none">SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 92%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20251231_zR7Zrki4adlg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20241231_zPJPea3awlLf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current deferred tax assets (liabilities)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_pn3n3_zoYQx0ZLevE6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 64%; text-align: left">Accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">35</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3175">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxLiabilitiesMortgageServicingRights_iNI_pn3n3_di_zzgpepKarh4a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Mortgage loans held for sale, net, at fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(51</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(57</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNet_iNI_pn3n3_di_zKl2WHI6iWJj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total current deferred tax assets (liabilities)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(16</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(57</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-current deferred tax assets (liabilities)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_zurxerL8qyBb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Net operating loss carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,262</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,853</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_iI_zFaWGGpqOk4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,438</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">947</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetsRightOfUseAssets_iNI_di_z6rh0YoTp9bg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(88</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3190">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsPropertyPlantAndEquipment_iNI_di_zSchzRJ3mvT4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,529</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,369</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_iNI_pn3n3_di_z1eHvrPpPN8h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Intangible assets, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,065</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,709</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--NonCurrentDeferredTaxLeaseLiabilities_iI_pn3n3_zbBzS65BKldd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">102</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3199">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxLiabilitiesInvestments_iNI_pn3n3_di_zUhwzmAfHx58" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Equity method investment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3201">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(129</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsGross_iI_pn3n3_z2amHD24qVA7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 0pt; text-align: left">Total non-current deferred tax assets (liabilities)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p style="margin: 0">16,120</p></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p style="margin: 0">28,593</p></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_zRkymfFMDDfb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Valuation Allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(16,104</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(28,536</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_zOT7LAuU2Vw8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net deferred tax assets (liabilities)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3210">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3211">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zqytwUslduI9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The gross operating loss carryforward was $<span id="xdx_903_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20251231_zhO7R3fYQS3a" title="Net operating loss carryforward">77.0</span> million as of December 31, 2025. The Company provided a valuation allowance equal to the net deferred income tax assets (liabilities) for the years ended December 31, 2025 and 2024 because it was not known whether future taxable income will be sufficient to utilize the loss carryforward and other deferred tax assets (liabilities).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally, the future utilization of the net operating loss carryforward to offset future taxable income is subject to an annual limitation as a result of ownership or business changes that may occur in the future. The Company has not conducted a study to determine the limitations on the utilization of these net operating loss carryforwards. If necessary, the deferred tax assets (liabilities) will be reduced by any carryforward that may not be utilized or expires prior to utilization as a result of such limitations, with a corresponding reduction of the valuation allowance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does <span id="xdx_90A_eus-gaap--UnrecognizedTaxBenefits_iI_do_c20251231_zIpcRebBcYx3" title="Uncertain tax positions">no</span>t have any uncertain tax positions or events leading to uncertainty in a tax position. The Company’s 2022, 2023, and 2024 Corporate Income Tax Returns are subject to Internal Revenue Service examination.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_z4qKticPJB2l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The items accounting for the difference between income taxes at the effective statutory rate and the provision for income taxes were as follows for the years ended December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8BC_zcG0EPAtGtTc" style="display: none">SCHEDULE OF PROVISION OF INCOME TAXES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 92%"> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">(Dollars in thousands)</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20251231_zRQemXNRxV4b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="2" id="xdx_49B_20240101__20241231_zGIa3oGq7gn2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td style="text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>%</b></td> <td style="text-align: center"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_pn3n3_hus-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_maITEBz6Qq_zI23hlvjOl1c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Expected federal income tax benefit</td><td style="width: 1%"> </td> <td style="width: 2%; text-align: left">$</td><td style="width: 10%; text-align: right">(4,910</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 10%"><p id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maACF_c20250101__20251231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_zoPfElerjXS5" style="margin: 0; text-align: right" title="Expected federal income tax benefit, percent">21.0</p></td> <td style="width: 1%">%</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(2,139</td><td style="width: 1%; text-align: left">)</td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maACF_c20240101__20241231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_zznFqAhEoks9" style="text-align: right; width: 10%" title="Expected federal income tax benefit, percent">16.3</td> <td style="width: 1%">%</td></tr> <tr id="xdx_408_ecustom--IncomeTaxReconciliationStateIncomeTaxesAfterCredits_pn3n3_maITEBz6Qq_zqsSZ6Ic9Nq" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income taxes after credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3130">-</span> </td><td style="text-align: left"> </td><td> </td> <td> </td> <td id="xdx_98C_ecustom--EffectiveIncomeTaxRateStateIncomeTaxesAfterCreditsPercentage_pid_dp_uPure_maACF_c20250101__20251231_fKDEp_z5fGv6hwI4Id" style="text-align: right" title="State income taxes after credits, percentage"><span style="-sec-ix-hidden: xdx2ixbrl3133">-</span></td> <td> </td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,145</td><td style="text-align: left">)</td> <td> </td> <td> </td> <td style="text-align: right"><p id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maACF_c20240101__20241231_fKDEp_zso9dfgdNpej" style="margin: 0; text-align: right" title="State income taxes after credits, percentage">8.8</p></td> <td>%</td></tr> <tr id="xdx_40F_ecustom--IncomeTaxReconciliationChangeInDeferredTaxAssetValuationAllowance_pn3n3_maITEBz6Qq_zlFtPT8DrET7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in allowance</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(7,924</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td> </td> <td id="xdx_980_ecustom--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetValuationAllowancePercentage_pid_dp_uPure_maACF_c20250101__20251231_fKDEp_zV8qT60eLdCe" style="text-align: right" title="Change in allowance, percentage">33.9</td> <td>%</td> <td> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">3,284</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><p id="xdx_98F_ecustom--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetValuationAllowancePercentage_pid_dp_uPure_maACF_c20240101__20241231_fKDEp_zs0DZRxl8DMh" style="margin: 0" title="Change in allowance, percentage">(25.1</p></td> <td>)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><p style="margin: 0">Non-taxable items:</p></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr id="xdx_40C_ecustom--IncomeTaxReconciliationAdjustmentsToPredecessorOperatingLossCarryforwards_pn3n3_maITEBz6Qq_zk3Q6gkFEbO2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><p style="margin: 0pt 0pt 0pt 10pt">Adjustments to predecessor operating loss carryforwards</p></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">(2,474</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td> </td> <td style="text-align: right"><p id="xdx_98C_ecustom--EffectiveIncomeTaxReconciliationAdjustmentsToPredecessorOperatingLossCarryforwardsPercentage_pid_dp_uPure_maACF_c20250101__20251231_fKDEp_zVOKeEYviVDg" style="margin: 0" title="Adjustments to predecessor operating loss carryforwards, percentage">10.6</p></td> <td>%</td> <td> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><p style="margin: 0"><span style="-sec-ix-hidden: xdx2ixbrl3145">-</span></p></td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td> </td> <td id="xdx_98A_ecustom--EffectiveIncomeTaxReconciliationAdjustmentsToPredecessorOperatingLossCarryforwardsPercentage_pid_dp_uPure_maACF_c20240101__20241231_fKDEp_zk4bNM2Lt7Sd" style="text-align: right" title="Adjustments to predecessor operating loss carryforwards, percentage"><span style="-sec-ix-hidden: xdx2ixbrl3149">-</span></td> <td> </td></tr> <tr id="xdx_400_ecustom--IncomeTaxReconciliationReturnToProvisionAdjustments_pn3n3_maITEBz6Qq_zisK5De009zf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><p style="margin: 0pt 0pt 0pt 10pt">Return to provision adjustments</p></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><p style="margin: 0pt; text-indent: 0pt">15,032</p></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td> </td> <td style="text-align: right"><p id="xdx_98B_ecustom--EffectiveIncomeTaxReconciliationReturnToProvisionAdjustmentsPercentage_pid_dp_uPure_maACF_c20250101__20251231_fKDEp_zNsiYaaXYVO8" style="margin: 0" title="Return to provision adjustments, percentage">(64.3</p></td> <td>)%</td> <td> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><p style="margin: 0"><span style="-sec-ix-hidden: xdx2ixbrl3152">-</span></p></td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"><p id="xdx_987_ecustom--EffectiveIncomeTaxReconciliationReturnToProvisionAdjustmentsPercentage_pid_dp_uPure_maACF_c20240101__20241231_fKDEp_zBSDIMJ9CqK4" style="margin: 0" title="Return to provision adjustments, percentage"><span style="-sec-ix-hidden: xdx2ixbrl3156">-</span></p></td> <td> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBz6Qq_zDGjWup1Uh84" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt"><p style="margin: 0pt 0pt 0pt 10pt">Other</p></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p style="margin: 0pt; text-indent: 0pt">276</p></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><p id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maACF_c20250101__20251231_fKDEp_zl12GD9XuEB9" style="margin: 0" title="Other, percentage">(1.2</p></td> <td style="padding-bottom: 1pt">)%</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p style="margin: 0"><span style="-sec-ix-hidden: xdx2ixbrl3159">-</span></p></td><td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><p id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maACF_c20240101__20241231_fKDEp_ztOkb5JPeThb" style="margin: 0" title="Other, percentage"><span style="-sec-ix-hidden: xdx2ixbrl3163">-</span></p></td> <td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_mtITEBz6Qq_z9fDWbj6hZ34" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total provision for income taxes</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3165">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td> <td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtACF_c20250101__20251231_zvMzaY7zOoj2" style="border-bottom: Black 2.5pt double; text-align: right" title="Effective tax rate, percent"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl3168">-</span></span></td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3166">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td> <td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtACF_c20240101__20241231_zOxo44hsBZog" style="border-bottom: Black 2.5pt double; text-align: right" title="Effective tax rate, percent"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl3170">-</span></span></td> <td style="padding-bottom: 2.5pt"> </td></tr> </table> -4910000 0.210 -2139000 0.163 -1145000 0.088 -7924000 0.339 3284000 -0.251 -2474000 0.106 15032000 -0.643 276000 -0.012 <p id="xdx_89F_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zEc1e2Y1LR7d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s approximate net deferred tax assets (liabilities) were as follows as of December 31:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span id="xdx_8BB_zEZPSQxEiG68" style="display: none">SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 92%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt">(Dollars in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20251231_zR7Zrki4adlg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20241231_zPJPea3awlLf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current deferred tax assets (liabilities)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_pn3n3_zoYQx0ZLevE6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 64%; text-align: left">Accrued liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">35</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3175">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxLiabilitiesMortgageServicingRights_iNI_pn3n3_di_zzgpepKarh4a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Mortgage loans held for sale, net, at fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(51</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(57</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNet_iNI_pn3n3_di_zKl2WHI6iWJj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total current deferred tax assets (liabilities)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(16</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(57</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-current deferred tax assets (liabilities)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_zurxerL8qyBb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Net operating loss carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,262</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,853</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_iI_zFaWGGpqOk4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,438</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">947</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetsRightOfUseAssets_iNI_di_z6rh0YoTp9bg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(88</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3190">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsPropertyPlantAndEquipment_iNI_di_zSchzRJ3mvT4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,529</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,369</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_iNI_pn3n3_di_z1eHvrPpPN8h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Intangible assets, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,065</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,709</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--NonCurrentDeferredTaxLeaseLiabilities_iI_pn3n3_zbBzS65BKldd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">102</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3199">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxLiabilitiesInvestments_iNI_pn3n3_di_zUhwzmAfHx58" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Equity method investment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3201">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(129</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsGross_iI_pn3n3_z2amHD24qVA7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 0pt; text-align: left">Total non-current deferred tax assets (liabilities)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p style="margin: 0">16,120</p></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p style="margin: 0">28,593</p></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_zRkymfFMDDfb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Valuation Allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(16,104</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(28,536</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_zOT7LAuU2Vw8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net deferred tax assets (liabilities)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3210">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl3211">-</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 35000 51000 57000 16000 57000 18262000 34853000 1438000 947000 88000 2529000 2369000 1065000 4709000 102000 129000 16120000 28593000 16104000 28536000 77000000.0 0 <p id="xdx_809_eus-gaap--EarningsPerShareTextBlock_zawEJn2Auc9j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>23. <span id="xdx_821_zpR9X9UMQIh6">NET INCOME (LOSS) PER COMMON SHARE</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period, without considering any dilutive items. Potentially dilutive securities consist of the incremental common stock issuable upon exercise of preferred stock, stock options, and warrants. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. There were <span id="xdx_905_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_do_c20250101__20251231_zT19k7f0U2t7" title="Antidilutive common shares"><span id="xdx_900_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_do_c20240101__20241231_zd9KiqeoMHFe" title="Antidilutive common shares">no</span></span> anti-dilutive common shares included in the calculation of income (loss) per common share as of December 31, 2025 and 2024. As of December 31, 2025, there were <span id="xdx_900_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--CommonStockEquivalentsMember_zm0ewlcOSCUe" title="Antidilutive common shares">9.2</span> million shares of common stock equivalents that were antidilutive due to the Company’s net loss, including <span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PreferredStockMember_zt0vm99IDTDk" title="Antidilutive Common stock equivalents">2.4</span> million under preferred stock, <span id="xdx_90A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_ztosrpSaEr09" title="Antidilutive Common stock equivalents">6.3</span> million under warrants and <span id="xdx_90B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--StockOptionsMember_z0NVCEbdvSfk" title="Antidilutive Common stock equivalents">0.5</span> million stock options. As of December 31, 2024, there were <span id="xdx_905_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--CommonStockEquivalentsMember_z07fkiR1QH6k" title="Antidilutive common shares">7.7</span> million shares of common stock equivalents that were antidilutive due to the Company’s net loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 0 0 9200000 2400000 6300000 500000 7700000 <p id="xdx_809_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_z4kRpXbNCg4c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>24. <span id="xdx_823_zAO9pSCntAM8">RELATED PARTY TRANSACTIONS</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to its acquisition by the Company, Beeline Financial issued a note to a private company in which Joseph Freedman, a Board member of the Company, has an ownership interest. This note was for $<span id="xdx_902_eus-gaap--DebtInstrumentIncreaseAccruedInterest_pn5n6_c20250101__20251231__srt--TitleOfIndividualAxis__custom--JosephFreedmanMember_zpjylqYuPwbe" title="Accrues interest">0.1</span> million, accrues interest at <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateIncreaseDecrease_pid_dp_uPure_c20250101__20251231__srt--TitleOfIndividualAxis__custom--JosephFreedmanMember_zOqACBWPx8Gl" title="Accrues interest rate">7</span>% per annum and is due on demand. This note was subsequently repaid in January 2025. Additionally in January 2025, Mr. Freedman purchased <span id="xdx_902_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20250101__20250131__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__custom--JosephFreedmanMember_zPcfjrxsYwjd" title="Sale of issued shares">238,418</span> shares of Series G Preferred Stock and five-year Warrants to purchase a total of <span id="xdx_90E_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20250101__20250131__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__custom--JosephFreedmanMember_zY2v8xtjyTN1" title="Warrant to purchase">11,921</span> shares of common stock for total gross proceeds of $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20250101__20250131__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__custom--JosephFreedmanMember_zvLvwvhsU4k" title="Gross proceeds">0.1</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beginning in June 2025, the Company has partnered with TYTL. TYTL finances certain residential real estate transactions funded through the sale of a cryptocurrency token which is backed by real property. In these transactions, TYTL purchases equity from homeowners seeking liquidity, funding such purchases from the sale of the cryptocurrency tokens. The Company provides TYTL with certain services in connection with these transactions, specifically through providing access to its platform, and providing title and escrow services through Beeline Title Holdings in exchange for cash fees. Other than providing title and escrow services as noted above, the Company is not involved in any cryptocurrency or other transactions of TYTL. During June 2025, Beeline Title Holdings closed its first such residential real estate transaction funded through the sale of a cryptocurrency token backed by real property. During the year ended December 31, 2025, the Company recorded $<span id="xdx_90A_eus-gaap--Revenues_c20250101__20251231__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zJAOIyPiBk3l" title="Revenue">22,009</span> of revenue related to this transaction, of which $<span id="xdx_90F_eus-gaap--AccountsReceivableNet_iI_c20251231__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_z0oNt20y2Hj7" title="Accounts receivable">16,100</span> was included in accounts receivable, net – related party on the consolidated balance sheets as of December 31, 2025. On December 19, 2025, the Company advanced TYTL $<span id="xdx_902_eus-gaap--ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock_iI_pn5n6_c20251231_z5p7tjJ376E8" title="Due from affiliate">0.4</span> million, included in due from affiliate on its consolidated balance sheets as of December 31, 2025. <i>See Note 25, Subsequent Events for recent transactions. </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During March 2025, Mr. Liuzza purchased <span id="xdx_903_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20250331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zbbKL43iBFPe" title="Warrants purchased">4,308,155</span> shares of Series G Preferred Stock and <span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20250331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_ziB2v5iW0Wba" style="display: none" title="Warrants outstanding term">5</span>five-year Warrants to purchase a total of <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20250331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zTmBGuZz90U5" title="Number of warrant shares">215,409</span> shares of common stock for total gross proceeds of $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20250301__20250331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zwUZyzdHFmEl" title="Gross proceeds">2.2</span> million<i>.</i> In addition, Mr. Liuzza converted his $<span id="xdx_90F_eus-gaap--BridgeLoan_iI_pn5n6_c20250331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zcHNSJUMarBe" title="Bridge loan">0.7</span> million bridge loan into $<span id="xdx_902_eus-gaap--BridgeLoan_iI_pn5n6_c20250331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zXxzVFGElqm1" title="Bridge loan">0.7</span> million of units comprised of <span id="xdx_902_eus-gaap--ConversionOfStockSharesIssued1_c20250301__20250331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zjAvDwTZALYd" title="Conversion of stock, shares issued">1,372,549</span> shares of Series G Preferred Stock and five-year Warrants to purchase a total of <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_z7gbkvFwBeia">68,628</span> shares. During December 2024, Mr. Liuzza purchased <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__srt--TitleOfIndividualAxis__custom--MrLiuzzaMember_zkJw5FbpjMq7" title="Shares issued">1,960,784</span> shares of Series G Preferred Stock and five-year Warrants to purchase a total of <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--MrLiuzzaMember_z3a9jsoX3mG6" title="Shares issued">98,040</span> shares of common stock for total gross proceeds of $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--MrLiuzzaMember_zgcI8ZXDMb75" title="Proceeds">1.0</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February and March of 2025, Mr. Liuzza advanced the Company $<span id="xdx_90E_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_c20250201__20250228__srt--TitleOfIndividualAxis__custom--NicholasLiuzzaMember_ze6i3VEsz6q9" title="Advanced from related party"><span id="xdx_901_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_c20250301__20250331__srt--TitleOfIndividualAxis__custom--NicholasLiuzzaMember_zGB25hNcO46c" title="Advanced from related party">0.1</span></span> million. In exchange for these advances, on April 25, 2025, the Board of Directors approved the advances as loans, and the Company issued Mr. Liuzza a promissory note which bears interest at a rate of <span id="xdx_90C_eus-gaap--AccountsPayableInterestBearingInterestRate_iI_dp_uPure_c20250425__srt--TitleOfIndividualAxis__custom--NicholasLiuzzaMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zMvWqE4FgcYa" title="Bears interest percentage">8</span>% per annum and is payable on demand. On May 29, 2025, the Company amended the note to $<span id="xdx_903_eus-gaap--DebtInstrumentCarryingAmount_iI_pn5n6_c20250529__srt--TitleOfIndividualAxis__custom--NicholasLiuzzaMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zvQMX2ZzPm82" title="Debt instrument carrying amount">0.4</span> million. As of December 31, 2025, the note was fully repaid.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2025, Mr. Liuzza entered into a SAFE with MagicBlocks, an entity in which the Company also has a <span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20250131__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MagicBlocksIncMember__us-gaap--TypeOfArrangementAxis__custom--SimpleAgreementForFutureEquityMember_zvbnmRFYGWDl" title="Ownership percentage">47.6</span>% ownership interest. In addition, Mr. Liuzza is a member of the board of directors and Christopher Moe, the Company’s Chief Financial Officer, is the Treasurer for MagicBlocks.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jessica Kennedy, Beeline Financial’s Chief Operating Officer, owns a <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateIncreaseDecrease_pid_dp_uPure_c20250101__20251231__srt--TitleOfIndividualAxis__custom--JessicaKennedyMember_z9qvBQt1XJcb" title="Interest rate">5</span>% interest in Tower Title, which is a vendor to certain subsidiaries of the Company. During the years ended December 31, 2025 and 2024, the Company had transactions of $<span id="xdx_903_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20250101__20251231__srt--TitleOfIndividualAxis__custom--JessicaKennedyMember_zQytzQF4vO2d" title="Transaction amount">15,702</span> and $<span id="xdx_900_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20240101__20241231__srt--TitleOfIndividualAxis__custom--JessicaKennedyMember_zGQHy7dawnO8" title="Transaction amount">7,457</span>, respectively, with Tower Title.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline Loans partnered with CredEvolv on February 26, 2025 to help declined borrowers improve their credit and secure mortgage approval. Steve Romano is co-founder and President of CredEvolv. Beeline Financial engaged Mr. Romano to provide certain consulting services pursuant to an agreement dated July 29, 2024 to continue until terminated by written notice. As of December 31, 2025, the Company paid Mr. Romano $<span id="xdx_90B_ecustom--PaymentToServiceReceivedFromRelatedParty_pn5n6_c20250101__20251231__srt--TitleOfIndividualAxis__custom--SteveRomanoMember_zPG5J5CFUkt4" title="Payment to service received from related party">0.1</span> million. In December 2025, the Company ended its consulting relationship with Mr. Romano. Mr. Romano continues to serve on the Company’s Board of Directors.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beeline Loans is a member of The Mortgage Collaborative, which is an industry trade group founded by David Kittle. Beeline Loans pays membership fees of $<span id="xdx_900_eus-gaap--PaymentsForFees_c20250312__20250312__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember_zENIdQdoTcw4" title="Membership fees">3,500</span> to The Mortgage Collaborative. Mr. Kittle was appointed as Special Advisor to both the Company and Board of Directors on March 12, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>2024 Secured Notes</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During February 2024, LDI advanced the Company $<span id="xdx_905_eus-gaap--PaymentsForLoans_pn5n6_c20240229__20240229__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember_zJOvaubdRnp" title="Payments for loan">0.6</span> million. On May 15, 2024, the Company entered into a Loan Agreement with LDI, s<i>ee Note 16 - Secured Credit Facilities: 2024 Secured Notes.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 100000 0.07 238418 11921 100000 22009 16100 400000 4308155 P5Y 215409 2200000 700000 700000 1372549 68628 1960784 98040 1000000.0 100000 100000 0.08 400000 0.476 0.05 15702 7457 100000 3500 600000 <p id="xdx_80B_eus-gaap--SubsequentEventsTextBlock_z1MAefWsGvog" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>25. <span id="xdx_829_zCJmnACrAiEk">SUBSEQUENT EVENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Stockholders’ Equity </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Common Stock </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2026, the Company issued <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20260101__20261231__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketAgreementMember_zYjmvn1yG2Zh" title="Number of shares issued">163,112</span> shares of common stock for gross proceeds of $0.5 million in at-the-market public placements pursuant to the ATM Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2026, investors converted Preferred Stock, see below, into <span id="xdx_90B_eus-gaap--ConversionOfStockSharesConverted1_c20260101__20261231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zobKPsePvpQ">1,581,030</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2026, the Company issued <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20260101__20261231__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z4p6fEtj9553" title="Stock issued during period shares new issues">482,801</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> shares of common stock upon the exercise of Warrants related to the Company’s Series G Preferred Stock offering for proceeds of $<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20260101__20261231__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z5zBptIoM7I1" title="Stock issued during period value new issues">0.2</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2026, the Company issued <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20260101__20261231__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--PlanNameAxis__custom--ThousandTwentyFivePlanMember_z263KdjvDt3c" title="Shares issued for stock option exercises, shares">1,875</span> shares of common stock upon the exercise of stock options issued under its 2025 Plan for proceeds of $<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValueStockOptionsExercised_c20260101__20261231__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--PlanNameAxis__custom--ThousandTwentyFivePlanMember_za4JtuydSyNb" title="Shares issued for stock option exercises, value">1,725</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2026, the Company issued <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_pid_c20260101__20260131__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--PlanNameAxis__custom--ThousandTwentyFivePlanMember_z3HuyKi8OlWg" title="Shares issued for restricted common stock, shares">100,000</span> shares of restricted common stock valued at $<span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_c20260131__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--PlanNameAxis__custom--ThousandTwentyFivePlanMember_z4LLxrKlFUV2" title="Shares issued price per share">3.77</span> per share based on the 2025 grant date fair value to an employee under its 2025 Plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><i>ELOC Agreement</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During 2026, the Company sold and issued a total of <span id="xdx_90B_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20260101__20261231__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_zWyamVuIdsyg" title="Sale of stock, shares">444,444</span> shares of common stock for an aggregate purchase price of $<span id="xdx_901_eus-gaap--StockRepurchasedDuringPeriodValue_pn5n6_c20260101__20261231__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--ELOCAgreementMember_z0V7KLK75Hy7" title="Aggregate purchase price">1.0</span> million to the Purchaser.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>2025 Equity Incentive Plan</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2026, the Company granted <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20260101__20261231__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--PlanNameAxis__custom--ThousandTwentyFiveEquityIncentivePlanMember_zeMM51mYS2td" title="Number of stock options granted">293,000</span> stock options to employees with a fair market value of $<span id="xdx_900_eus-gaap--StockGrantedDuringPeriodValueSharebasedCompensationGross_pn5n6_c20260101__20261231__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--PlanNameAxis__custom--ThousandTwentyFiveEquityIncentivePlanMember_zcEezQnTYQcg" title="Number of stock options granted value">0.7</span> million vesting over 10 months.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Series A Preferred Stock</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2026, the remaining <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20260101__20261231__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zKsfyXZ7Zhd3" title="Number of shares converted">6,425,102</span> shares of Series A Preferred Stock were converted or exchanged into a total of <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20260101__20261231__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zNm7eo3DHfZ8" title="Number of shares convertion">1,483,356</span> shares of common stock. In March 2026, the Certificate of Designation was withdrawn for the Series A Preferred Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Series D Preferred Stock</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2026, the Certificate of Designation was withdrawn for the Series D Preferred Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Series F and F-1 Preferred Stock</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2026, investors converted <span id="xdx_909_eus-gaap--ConversionOfStockSharesConverted1_c20260101__20261231__us-gaap--StatementClassOfStockAxis__custom--SeriesFAndF1PreferredStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zcylwSRNTe13" title="Conversion of stock shares converted">258,152</span> shares of Series F and F-1 Preferred Stock into <span id="xdx_907_eus-gaap--ConversionOfStockSharesConverted1_c20260101__20261231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--StatementClassOfStockAxis__custom--SeriesFAndF1PreferredStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zSXs4jNhHxwl" title="Conversion of stock shares converted">25,815</span> shares of common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Series G Preferred Stock</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2026, investors converted <span id="xdx_90A_eus-gaap--ConversionOfStockSharesConverted1_c20260101__20261231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zvlwRvlgIW62" title="Conversion of stock shares converted">235,293</span> shares of Series G Preferred Stock into <span id="xdx_90D_eus-gaap--ConversionOfStockSharesConverted1_c20260101__20261231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zr78eC60SXG9" title="Conversion of stock shares converted">71,859</span> shares of common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrants</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2026, investors exercised <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_c20260101__20261231__srt--StatementScenarioAxis__srt--ScenarioForecastMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zK6bDlRdNgsg" title="Share based compensation, warrant exercised">482,801</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants for proceeds of $<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20260101__20261231__srt--StatementScenarioAxis__srt--ScenarioForecastMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zNT6VPq9Owgg" title="Share based compensation, warrant exercised">0.2</span> million related to the Company’s Series G Preferred Stock offering and the Company issued <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20260101__20261231__srt--StatementScenarioAxis__srt--ScenarioForecastMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_z8UC9diazVvj" title="Common stock issued">452,475</span> shares of common stock, including</span> <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_c20260101__20261231__srt--StatementScenarioAxis__srt--ScenarioForecastMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zkDGpXVJZIrh" title="Share based compensation, warrant exercised">99,802</span> shares of common stock issued under the cashless exercise provision upon the exercise of <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20260101__20261231__srt--StatementScenarioAxis__srt--ScenarioForecastMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_ztBYBJbucV7e" title="Share based compensation, warrant exercised">130,128</span> Warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Related Party Transactions</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, the Company further advanced $<span id="xdx_90B_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_pn5n6_c20260331__20260331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_ze7xdKHnRIe7" title="Related party transaction amounts">0.1</span> million to TYTL and received payment of $<span id="xdx_901_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_c20260331__20260331__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zIQ7ew1lu049" title="Proceeds from related party debt">0.3</span> million related to its advance of $<span id="xdx_907_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_pn5n6_c20250101__20251231_zvkdtO9YEQYa" title="Related party transaction amounts">0.4</span> million as of December 31, 2025. In addition, in January 2026, the Company entered into a Master Services Agreement with TYTL to provide certain services during the year 2026 for an annual fee of $<span id="xdx_909_eus-gaap--ProfessionalFees_pn5n6_c20260101__20260131__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--ProductOrServiceAxis__us-gaap--ServiceMember_zxouC22hRb44" title="Annual fee">0.2</span> million.</span></p> 163112 1581030 482801 200000 1875 1725 100000 3.77 444444 1000000.0 293000 700000 6425102 1483356 258152 25815 235293 71859 482801 0.2 452475 99802 130128 100000 300000 400000 200000 false false false false