| Schedule of Segment Information |
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Year ended December 31, 2025 |
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Corporate and |
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SUNation NY |
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HEC |
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Other |
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Total |
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Sales |
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$ |
49,600,311 |
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$ |
22,305,216 |
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$ |
— |
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$ |
71,905,527 |
Cost of sales |
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29,433,948 |
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14,927,366 |
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— |
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44,361,314 |
Gross profit |
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20,166,363 |
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7,377,850 |
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— |
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27,544,213 |
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Operating expenses: |
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Selling, general and administrative expenses |
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16,237,256 |
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4,766,477 |
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5,976,017 |
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26,979,750 |
Amortization expense |
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812,500 |
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1,425,000 |
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— |
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2,237,500 |
Total operating expenses |
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17,049,756 |
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6,191,477 |
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5,976,017 |
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29,217,250 |
Operating (loss) income |
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3,116,607 |
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1,186,373 |
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(5,976,017) |
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(1,673,037) |
Other income (expenses): |
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Investment and other income |
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29,335 |
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13,044 |
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64,246 |
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106,625 |
Fair value remeasurement of warrant liability |
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— |
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— |
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(7,531,044) |
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(7,531,044) |
Fair value remeasurement of contingent forward contract |
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899,080 |
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899,080 |
Fair value remeasurement of contingent value rights |
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— |
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— |
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36,079 |
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36,079 |
Financing fees |
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(1,294,090) |
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(1,294,090) |
Interest expense |
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(58,908) |
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— |
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(982,927) |
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(1,041,835) |
Loss on debt extinguishment |
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— |
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— |
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(343,471) |
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(343,471) |
Other expense, net |
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(29,573) |
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13,044 |
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(9,152,127) |
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(9,168,656) |
Operating loss from continuing operations before income taxes |
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$ |
3,087,034 |
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$ |
1,199,417 |
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$ |
(15,128,144) |
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$ |
(10,841,693) |
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Depreciation and amortization |
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$ |
995,472 |
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$ |
1,507,643 |
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$ |
— |
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$ |
2,503,115 |
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Capital expenditures |
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$ |
— |
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$ |
48,594 |
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$ |
— |
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$ |
48,594 |
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Assets |
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$ |
27,437,628 |
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$ |
18,199,530 |
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$ |
2,606,962 |
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$ |
48,244,120 |
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Year ended December 31, 2024 |
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Corporate and |
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SUNation NY |
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HEC |
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Other |
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Total |
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Sales |
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$ |
39,733,362 |
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$ |
17,128,391 |
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$ |
— |
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$ |
56,861,753 |
Cost of sales |
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24,639,695 |
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11,795,814 |
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— |
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36,435,509 |
Gross profit |
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15,093,667 |
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5,332,577 |
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— |
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20,426,244 |
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Operating expenses: |
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Selling, general and administrative expenses |
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15,265,443 |
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4,530,879 |
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7,257,844 |
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27,054,166 |
Amortization expense |
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812,500 |
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2,025,000 |
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— |
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2,837,500 |
Fair value remeasurement of SUNation earnout consideration |
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— |
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— |
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(1,000,000) |
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(1,000,000) |
Goodwill impairment loss |
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— |
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3,101,981 |
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— |
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3,101,981 |
Intangible asset impairment loss |
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— |
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750,000 |
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— |
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750,000 |
Total operating expenses |
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16,077,943 |
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10,407,860 |
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6,257,844 |
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32,743,647 |
Operating (loss) income |
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(984,276) |
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(5,075,283) |
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(6,257,844) |
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(12,317,403) |
Other income (expenses): |
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Investment and other income |
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25,920 |
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17,742 |
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100,867 |
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144,529 |
(Loss) gain on sale of assets |
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— |
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6,118 |
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(6,940) |
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(822) |
Fair value remeasurement of warrant liability |
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— |
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— |
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(974,823) |
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(974,823) |
Fair value remeasurement of embedded derivative liability |
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— |
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— |
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(65,617) |
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(65,617) |
Fair value remeasurement of contingent value rights |
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— |
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— |
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522,257 |
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522,257 |
Interest expense |
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(74,507) |
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— |
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(3,012,943) |
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(3,087,450) |
Loss on debt extinguishment |
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— |
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— |
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(35,657) |
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(35,657) |
Other expense, net |
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(48,587) |
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23,860 |
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(3,472,856) |
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(3,497,583) |
Operating loss from continuing operations before income taxes |
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$ |
(1,032,863) |
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$ |
(5,051,423) |
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$ |
(9,730,700) |
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$ |
(15,814,986) |
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Depreciation and amortization |
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$ |
1,031,418 |
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$ |
2,120,364 |
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$ |
2,050 |
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$ |
3,153,832 |
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Capital expenditures |
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$ |
24,155 |
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$ |
8,630 |
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$ |
— |
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$ |
32,785 |
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Assets |
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$ |
26,127,816 |
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$ |
18,150,306 |
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$ |
1,434,610 |
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$ |
45,712,732 |
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