Assumed Diluted Shares Outstanding
| 12/31/2020 | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 03/31/2025 | 06/30/2025 | 09/30/2025 | 12/31/2025 | 04/12/2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total BTC | 70,470 | 124,391 | 132,500 | 189,150 | 386,700 | 506,137 | 580,685 | 670,200 | 742,474 | 780,897 |
| Class A | 9,587,840 | 10,158,177 | 10,585,177 | 14,800,177 | 18,297,530 | 21,317,530 | 24,150,530 | 26,250,530 | 28,000,530 | 29,350,530 |
| Class B | 1,964,025 | 1,964,025 | 1,964,025 | 1,964,025 | 1,964,025 | 1,964,025 | 1,964,025 | 1,964,025 | 1,964,025 | 1,964,025 |
| Basic Shares Outstanding | 11,551,865 | 12,122,202 | 12,549,202 | 16,764,202 | 20,261,555 | 23,281,555 | 26,114,555 | 28,214,555 | 29,964,555 | 31,314,555 |
| 2025 Convert Shares | 441,649 | 441,649 | 441,649 | 441,649 | - | - | - | - | - | - |
| 2027 Convert Shares | 1,543,248 | 1,543,248 | 1,543,248 | 1,543,248 | 1,543,248 | 1,543,248 | 1,543,248 | 1,543,248 | 1,543,248 | 1,543,248 |
| 2028 Convert Shares | - | - | - | - | 2,598,000 | 2,598,000 | 2,598,000 | 2,598,000 | 2,598,000 | 2,598,000 |
| 2029 Convert Shares | - | - | - | - | 3,421,000 | 3,421,000 | 3,421,000 | 3,421,000 | 3,421,000 | 3,421,000 |
| 2030 Convert Shares | - | - | - | - | - | 1,286,000 | 1,286,000 | 1,286,000 | 1,286,000 | 1,286,000 |
| 2031 Convert Shares | - | - | - | - | - | 1,550,000 | 1,550,000 | 1,550,000 | 1,550,000 | 1,550,000 |
| 2032 Convert Shares | - | - | - | - | - | - | 1,850,000 | 1,850,000 | 1,850,000 | 1,850,000 |
| Options Outstanding | 38,100 | 35,100 | 20,100 | 16,300 | 12,200 | 10,000 | 8,000 | 6,000 | 4,000 | 3,000 |
| RSU/PSU Unvested | 55,000 | 58,000 | 62,000 | 45,000 | 52,000 | 48,000 | 44,000 | 40,000 | 36,000 | 32,000 |
| Assumed Diluted Shares Outstanding | 13,629,862 | 14,200,199 | 14,616,199 | 18,810,399 | 27,887,803 | 31,755,833 | 37,014,833 | 39,507,833 | 40,653,833 | 41,998,833 |