Note 2 - Digital Assets

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Crypto Asset [Text Block]

Note 2 - Digital Assets

The Company accounts for its digital assets, which are comprised solely of $TAO tokens, as indefinite-lived intangible assets in accordance with ASC 350. The Company’s digital assets are initially recorded at cost and are measured at fair value as of each reporting period. $TAO tokens are available as partial tokens. The Company shows its token holdings rounded to the nearest one-hundredth of a token.

The following table summarizes the Company's digital asset holdings as of September 30, 2025:

Asset	Tokens		Cost		Fair Market Value		Unrealized Loss
Staked $TAO		21,811.63	$	8,096,000	$	6,610,000	$	1,486,000
Un-staked $TAO		10.40		3,000		3,000		-
		21,822.03	$	8,099,000	$	6,613,000	$	1,486,000

The following table summarizes the Company's digital asset activity for the three and nine months ended September 30, 2025, and the fair value is presented as of September 30, 2025:

	$TAO Tokens		$USD Fair Value
Digital asset balance on March 31, 2025		—	$	—
$TAO Token Purchases		5,024.71		1,650,000
$TAO Staking Rewards		6.57		2,000
Unrealized Gains on Fair Value Remeasurement		—		31,000
Digital asset balance on June 30, 2025		5,031.28	$	1,683,000
$TAO Token Purchases		16,516.91		6,350,000
$TAO Staking Rewards		273.84		97,000
Unrealized Loss on Fair Value Remeasurement		—		(1,517,000	)
Digital asset balance on September 30, 2025		21,822.03	$	6,613,000

The Company recorded unrealized losses of $1,517,000 and $1,486,000 in its Condensed Consolidated Statement of Operations for the three and nine months ended September 30, 2025, respectively.