For the quarter ending 2026-03-31, IPST had -$152,580 decrease in cash & cash equivalents over the period. -$2,453,221 in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 |
|---|---|---|---|
| Net income / (loss) | -66,744,989 | -323,651,084 | 185,935,769 |
| Depreciation expense | - | - | 832,476 |
| Depreciation and amortization | 30,783 | 1,064,100 | - |
| Amortization of operating lease right-of-use assets | 123,517 | 118,575 | 304,217 |
| Loss on disposal of property and equipment | 0 | -510,638 | -481,008 |
| Restructuring expenses | - | 3,392,744 | - |
| Non-cash warrant issued | - | 1,133,663 | -1,133,663 |
| Change in fair value of intangible digital assets | -62,109,978 | -364,041,359 | 245,841,410 |
| Change in fair value of contingency liability | - | 0 | 62,424 |
| Impairment loss / (gain) on investment | - | -3,357,027 | 0 |
| Gain on extinguishment of debt | - | 1,673,127 | - |
| Change in fair value of convertible notes | - | 0 | 0 |
| Change in fair value of warrant liabilities | - | 0 | 0 |
| Realized loss on sale of intangible digital assets | -2,359,699 | - | - |
| Non-cash interest expense | -6,613 | -1,045,130 | 905,048 |
| Non-cash shares in lieu of compensation | - | 0 | 125,000 |
| Non-cash share-based compensation | 942,909 | 1,436,652 | 3,050,662 |
| Non-cash deferred income tax expense | - | - | 49,426,794 |
| Accounts receivable | -168,161 | 144,988 | -436,115 |
| Inventory | -69,788 | -293,494 | -191,297 |
| Other current assets | -13,356 | -267,220 | -379,038 |
| Intangible digital assets | -1,357,816 | -4,716,907 | - |
| Other long term assets | -6,000 | 0 | -13,701 |
| Accounts payable | 52,970 | -1,088,430 | -1,910,982 |
| Intangible digital assets | - | - | -986,680 |
| Other current liabilities | -118,689 | -261,237 | -28,878 |
| Operating lease liabilities | -115,500 | -114,168 | -331,571 |
| Other long term liabilities | - | -977,313 | -189,500 |
| Net cash provided by / (used in) operating activities | -2,453,221 | -7,506,568 | -7,821,905 |
| Purchase of intangible digital assets | - | 20,000 | 21,000,000 |
| Proceeds from purchase of thinking tree spirits | - | 0 | 0 |
| Proceeds from sale of intangible digital assets | 2,267,258 | 4,456,508 | - |
| Purchase of property and equipment | 0 | 0 | 74,754 |
| Proceeds from sale of asset | - | - | 127,741 |
| Proceeds from sales of assets | 44,406 | 118,941 | - |
| Net cash provided by / (used in) investing activities | 2,311,664 | 4,427,708 | -20,947,013 |
| Proceeds from pipe sale of prepaid warrants, net | - | 129 | 30,076,795 |
| Proceeds from notes payable (including factoring agreements) | - | 0 | 0 |
| Proceeds from whiskey notes (including proceeds from related party whiskey notes of 0 and 1,100,000 for the years ended december 31, 2025 and 2024, respectively) | - | 0 | 0 |
| Repayment of notes payable | 11,023 | -1,651,340 | 7,820,765 |
| Proceeds from initial public offering of common stock, net of underwriting commission | - | 0 | - |
| Expenses related to initial public offering, recorded to additional paid-in-capital, net against ipo proceeds | - | 0 | - |
| Common stock shares repurchased | - | 2,000 | 0 |
| Proceeds from private placement of common warrants | - | 0 | - |
| Proceeds from private placement of series a and series b preferred stock (and warrants)-Series APreferred Stock | - | 0 | 0 |
| Proceeds from private placement of series b preferred stock and warrants | 0 | 0 | 2,916,810 |
| Proceeds from eloc sales of common stock | 0 | -1 | 4,817,235 |
| Proceeds from warrants exercised | 0 | 0 | 355 |
| Deferred transaction costs associated with s-1 filing | - | - | 0 |
| Net cash provided by financing activities | -11,023 | 1,649,468 | 29,990,430 |
| Net increase (decrease) in cash | -152,580 | -1,429,392 | 1,221,512 |
| Cash beginning of period | 453,162 | 1,674,674 | 453,162 |
| Cash end of period | 92,702 | 245,282 | 1,674,674 |
IP STRATEGY HOLDINGS, INC. (IPST)
IP STRATEGY HOLDINGS, INC. (IPST)