FAIR VALUE MEASUREMENTS (Q1) (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2026

Dec. 31, 2025

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value of Held-to-Maturity Securities

The following tables present information about the Company’s assets that are measured at fair value on a recurring basis at March 31, 2026 and December 31, 2025 and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. The gross holding gains and fair value of held-to-maturity securities at March 31, 2026 and December 31, 2025 are as follows:

Held to Maturity

Level

Amortized Cost

Gross Holding Gain

Fair Value

March 31, 2026

U.S. Treasury Securities (matured May 7, 2026)

1

$92,678,231

$951

$92,679,182

Held to Maturity

Level

Amortized Cost

Gross Holding Gain

Fair Value

December 31, 2025

U.S. Treasury Securities (matured February 19, 2026)

1

$91,837,137

$35,047

$91,872,184

The following tables present information about the Company’s assets that are measured at fair value on a recurring basis at December 31, 2025 and 2024 and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. The gross holding gains and fair value of held-to-maturity securities at December 31, 2025 and 2024 are as follows:

Held to Maturity

Level

Amortized Cost

Gross Holding Gain

Fair Value

December 31, 2025

U.S. Treasury Securities (matured February 19, 2026)

1

$91,837,137

$35,047

$91,872,184

Held to Maturity

Level

Amortized Cost

Gross Holding Gain

Fair Value

December 31, 2024

U.S. Treasury Securities (matured April 3, 2025)

1

$88,615,571

$38,396

$88,653,967