General and Administrative Expenses
We incurred $3,303,945 and $3,199,744 of general and administrative expenses for the six months ended June 30, 2026 and 2025, respectively, an increase of approximately 3.3%. The six months ended June 30, 2025 results included warrant issuance costs associated with the Series D Private Placement of approximately $700,000. For the six months ended June 30, 2026, $537,081 was incurred primarily for wages, bonuses, vacation pay, severance, taxes and insurance, versus $449,791 for the six months ended June 30, 2025. The increase resulted primarily from increased compensation for the Company’s Chairman as he became Executive Chairman during the second quarter of 2025; $299,319 was incurred for legal expenses versus $400,957 for the 2025 comparable period. The higher legal fees for 2025 are based upon the Company changing its business strategy, restructuring and financing; $1,178,823 was incurred for outside operations consulting services during the six months ended June 30, 2026, versus $504,289 for the comparable period in 2025. The higher amount for the 2026 period reflects non-cash expenses associated with warrants issued to cryptocurrency experts totaling $796,612; $18,269 was incurred for travel expenses during the six months ended June 30, 2026, versus $26,328 for the comparable period in 2025 as Company officers and directors conducted due diligence for strategic investments in 2025; $238,133 was incurred for investor relations services during the six months ended June 30, 2026, versus $204,435 for the comparable period in 2025; $138,541 was incurred for professional fees associated with auditing, financial, accounting and tax advisory services during the six months ended June 30, 2026, versus $140,711 for the comparable period in 2025; $330,902 was incurred for insurance during the six months ended June 30, 2026, versus $279,934 for the comparable period in 2025. The increase is attributable to higher premiums relating to the Company’s cryptocurrency treasury strategy; $244,552 was incurred for utilities, supplies, license fees, filing costs, rent, advertising and other during the six months ended June 30, 2026, versus $220,358 for the comparable period in 2025; and $318,325 was recorded as non-cash stock options compensation expense during the six months ended June 30, 2026, versus $972,941 for the comparable period in 2025. The decrease for the current period is attributable to granting of stock options awards during the third quarter of 2025 partially offset by the issuance of stock options awards during the current quarter.
Other Income / Expense
