Discontinued Operations And Deconsolidation (Tables)

3 Months Ended

9 Months Ended

Dec. 31, 2024

Sep. 30, 2025

Discontinued Operations And Deconsolidation [Abstract]

The following tables presents a reconciliation of the carrying amounts of major classes of assets and liabilities of the Company classified as discontinued operations as of the periods presented:

	December 31,		September 30,		September 30,
	2024		2024		2023
Cash	$	148,679	$	3,305	$	11,470
Customer custodial funds		811,265		31,781		672,500
Customer digital currency assets		22,930		615,362		—
Due from affiliates		50,768		35,046		2,039,274
Notes receivable, related parties, net		—		—		162,820
Other classes of current assets that are not major		55,410		35,756		26,644
Total current assets		1,089,052		721,250		2,912,708
Other classes of non-current assets that are not major		14,887		19,290		33,000
Total assets	$	1,103,939	$	740,540	$	2,945,708

	December 31,		September 30,		September 30,
	2024		2024		2023
Accounts payable	$	504,249	$	448,307	$	138,666
Customer custodial cash liabilities		972,941		827,589		1,443,011
Customer digital currency liabilities		10,514		23,605		—
Due to affiliates		479,608		537,053		5,552,931
Loan payable, related parties, current		682,875		720,515		—
Interest payable, related parties, current		203,755		169,052		—
Accrued expenses and other current liabilities		308,567		357,835		208,228
Total current liabilities		3,162,509		3,083,956		7,342,836
Loan payable – related parties, net of current portion		17,368		26,362		150,619
Interest payable – related parties, net of current portion		—		2,474		1,208
Total liabilities	$	3,179,877	$	3,112,792	$	7,494,663

The following tables present the balance sheets and the results of operations of the Company classified as discontinued operations for the periods presented:

	September 30,		December 31,
	2025		2024
	(Unaudited)		(Audited)
ASSETS

CURRENT ASSETS:
Cash and cash equivalents	$	-	$	148,679
Customer custodial funds		-		811,265
Customer digital currency assets		-		22,930
Digital assets		-		550
Due from affiliates		-		50,768
Other current assets		-		54,860

TOTAL CURRENT ASSETS		-		1,089,052

NON-CURRENT ASSETS:
Intangible assets, net		-		14,887

TOTAL NON-CURRENT ASSETS		-		14,887

TOTAL ASSETS	$	-	$	1,103,939

LIABILITIES AND STOCKHOLDERS’ DEFICIT

CURRENT LIABILITIES:
Accounts payable	$	-	$	504,249
Customer custodial cash liabilities		-		972,941
Customer digital currency liabilities		-		10,514
Due to affiliates		-		479,608
Loans payable - related parties, current		-		682,875
Interest payable - related parties, current		-		203,755
Accrued expenses and other current liabilities		-		308,567

TOTAL CURRENT LIABILITIES		-		3,162,509

NON-CURRENT LIABILITIES:
Loan payable - related parties, net of current portion		-		17,368

TOTAL NON-CURRENT LIABILITIES		-		17,368

TOTAL LIABILITIES		-		3,179,877

Schedule of Consolidated Statements of Operations

The following table presents the results of operations of the Company classified as discontinued operations for the periods presented:

	Three months ended December 31,			For the Years Ended September 30,
	2024			2024			2023
REVENUES
Revenue - general support services - related party	$	—		$	4,800,000		$	19,200,000
Revenue - financial services		403,558			1,113,461			2,097,642
Total revenues		403,558			5,913,461			21,297,642

COSTS OF REVENUES
Cost of revenue - general support services - related party		—			4,650,000			18,775,000
Cost of revenue - financial services		42,944			264,945			2,865,783
Total costs of revenues		42,944			4,914,945			21,640,783

GROSS PROFIT (LOSS)
Gross profit - general support services - related party		—			150,000			425,000
Gross profit (loss) - financial services		360,614			848,516			(768,141	)
Total gross profit (loss)		360,614			998,516			(343,141	)

OPERATING EXPENSES:
Advertising		91			44,488			15,243
Professional fees		187,006			747,252			857,364
Compensation and related benefits		159,240			825,315			702,625
Amortization of intangible assets		3,370			13,813			8,549
Bad debt expense – related parties		—			6,141,000			650,285
Other general and administrative		75,534			300,071			226,262
Impairment loss		—			—
Total operating expenses		425,241			8,071,939			2,460,328

LOSS FROM OPERATIONS		(64,627	)		(7,073,423	)		(2,803,469	)

OTHER (EXPENSE) INCOME:
Interest expense - related parties		(82,186	)		(162,621	)		(1,213	)
Loss on extinguishment of vendor obligations		—			—
Gain on extinguishment of vendor obligations		—			—
Gain on termination of GSS GSA – related party		—			6,082,962
Gain on extinguishment of due to affiliates		—			—
Other (expense) income		(11,162	)		12,161			36,568
Total other (expense) income, net		(93,348	)		5,932,502			35,355
NET LOSS	$	(157,975	)	$	(1,140,921	)	$	(2,768,114	)

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2025			2024			2025			2024
REVENUES
Revenue - financial services		83,309			226,960			568,860			661,931
Total revenues		83,309			226,960			568,860			661,931

COSTS OF REVENUES
Cost of revenue - financial services		16,371			15,558			95,929			128,492
Total costs of revenues		16,371			15,558			95,929			128,492

GROSS PROFIT (LOSS)
Gross profit (loss) - financial services		66,938			211,402			472,931			533,439
Total gross profit (loss)		66,938			211,402			472,931			533,439

OPERATING EXPENSES:
Advertising		2,260			113			9,950			23,036
Professional fees		36,480			165,950			273,835			599,978
Compensation and related benefits		42,327			157,419			331,057			591,856
Amortization of intangible assets		1,030			3,445			7,727			10,360
Other general and administrative		20,343			114,559			169,187			235,241

Total operating expenses		102,440			441,486			791,756			1,460,471

LOSS FROM OPERATIONS		(35,502	)		(230,084	)		(318,825	)		(927,032	)

OTHER (EXPENSE) INCOME:
Interest expense - related parties		(23,318	)		(149,523	)		(189,664	)		(161,029	)
Gain on termination of GSS GSA – related party		-			6,082,962			-			6,082,962
Other income (expense)		(1,444	)		(31,136	)		47,518			(14,943	)

Total other income (expense), net		(24,762	)		5,902,303			(142,146	)		5,906,990

LOSS BEFORE INCOME TAXES		(60,264	)		5,672,219			(460,971	)		4,979,958

INCOME TAXES		-			-			-			-

NET LOSS FROM DISCONTINUED OPERATIONS	$	(60,264	)		5,672,219			(460,971	)	$	4,979,958

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

T3 Defense Inc. S-1