GOING CONCERN	9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	3. GOING CONCERN In prior periods, the Company had experienced operating losses, limited liquidity, and negative cash flows from operations, which raised substantial doubt regarding its ability to continue as a going concern. During the nine months ended September 30, 2025, the Company completed significant capital-raising activities, including a $270 million private placement and additional issuances through its at-the-market program. A substantial portion of the proceeds was allocated to digital assets, which are measured at fair value under ASU 2023-08 and include highly liquid assets such as U.S. dollar-denominated stablecoins. As of September 30, 2025, the Company held $23.7 million in cash and cash equivalents and $286.7 million in digital assets, resulting in total current assets of $316.5 million and working capital of approximately $299.7 million. Forever 8, the Company’s sole operating business, following the divestiture of the Packaging Business, continues to generate stable operating margins and predictable cash flows. The Company also maintains access to revolving credit facilities used to support Forever 8 inventory financing activities. Based on its current liquidity position, expected operating cash flows, access to financing facilities, and the highly liquid nature of its digital asset holdings, management believes the Company has sufficient resources to meet its obligations as they become due for at least twelve months from the date these condensed consolidated financial statements are issued. Accordingly, management has concluded that substantial doubt regarding the Company’s ability to continue as a going concern is alleviated, and these financial statements have been prepared on a going-concern basis.

GOING CONCERN

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

3. GOING CONCERN

In prior periods, the Company had experienced operating losses, limited liquidity, and negative cash flows from operations, which raised substantial doubt regarding its ability to continue as a going concern.

During the nine months ended September 30, 2025, the Company completed significant capital-raising activities, including a $270 million private placement and additional issuances through its at-the-market program. A substantial portion of the proceeds was allocated to digital assets, which are measured at fair value under ASU 2023-08 and include highly liquid assets such as U.S. dollar-denominated stablecoins.

As of September 30, 2025, the Company held $23.7 million in cash and cash equivalents and $286.7 million in digital assets, resulting in total current assets of $316.5 million and working capital of approximately $299.7 million. Forever 8, the Company’s sole operating business, following the divestiture of the Packaging Business, continues to generate stable operating margins and predictable cash flows. The Company also maintains access to revolving credit facilities used to support Forever 8 inventory financing activities.

Based on its current liquidity position, expected operating cash flows, access to financing facilities, and the highly liquid nature of its digital asset holdings, management believes the Company has sufficient resources to meet its obligations as they become due for at least twelve months from the date these condensed consolidated financial statements are issued. Accordingly, management has concluded that substantial doubt regarding the Company’s ability to continue as a going concern is alleviated, and these financial statements have been prepared on a going-concern basis.