Financial Analysis

15. Commitments and Contingencies At times the Company may be subject to certain claims and lawsuits arising in the normal course of business. The Company will assess liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information available. Where it is probable that the Company will incur a loss and the amount of the loss can be reasonably estimated, the Company will record a liability in our condensed consolidated financial statements. These legal accruals may be increased or decreased to reflect any relevant developments on a quarterly basis. Where a loss is not probable or the amount of the loss is not estimable, the Company will not record an accrual, consistent with applicable accounting guidance. The Company is not currently involved in any material legal proceedings.

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8. Notes Payable and Notes Payable Related Party The following outlines the Companys Notes Payable and Notes Payable Related Party. Any related party notes payable is noted as such. LV Note On April 3, 2024, LV Holding, entered into a Modification and Extension Agreement, effective as of April 1, 2024 (the Extension Agreement), to extend to April 1, 2025 the maturity date of a promissory note in the amount of $5,000,000 (the LV Note). As consideration for the Extension Agreement, LV Holding agreed to pay an extension fee of $50,000. Additionally, the Extension Agreement provided for the LV Notes interest rate to be increased to a fixed rate of 17.00%. In addition, pursuant to a loan agreement dated April 3, 2024 (the 2nd Lien Loan Agreement), LV Holding issued a promissory note, in the principal amount of $1,000,000 (the 2nd Lien Note), secured by a revised Deed of Trust and Security Agreement, dated April 3, 2024 (the Revised Deed of Trust) on the Companys Lago Vista site, and a Modification to Real Estate Mortgage, dated April 3, 2024 (Mortgage Modification), to the mortgage, dated March 30, 2023, on the Companys McLean site in Durant, Oklahoma. The 2nd Lien Note is subordinate to the LV Note. The 2nd Lien Note required monthly installments of interest only at a fixed rate of 17.00%, had a maturity date of April 1, 2025 and could be prepaid by LV Holding at any time without interest or penalty. LV Holdings obligations under the 2nd Lien Note were guaranteed by the Company p …

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12. Share-based Compensation On February 28, 2023, the Companys Board of Directors approved the issuance of up to 200,000 shares of the Companys common stock in the form of incentive stock options, nonqualified stock options, options, stock appreciation rights, restricted stock, or restricted stock units (2023 Plan). The 2023 Plan expires February 2033 and is administered by the Companys Compensation Committee of the Board of Directors. Any employee, director, consultant, and other service provider, or affiliates, are eligible to participate in the 2023 Plan. The maximum number of shares of common stock that may be issued under the 2023 Plan automatically increases on January 1 of each calendar years for a period of ten years commencing on January 1, 2024, by a number of shares of common stock equal to 4.5% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, provided, however that the Board of Directors may act prior to January 1 of a given calendar year to provide that the increase for such year will be a lesser number of shares of Common Stock. All available shares may be utilized toward the grant of any type of award under the 2023 Plan. On January 1, 2024, 459,000 shares of the Companys common stock were added to the 2023 Plan pursuant to the evergreen provision. On January 1, 2025, 66,784 shares of the Companys common stock were added to the 2023 Plan pursuant to the evergreen provision. In August 2025, the Companys Bo …

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7. Fair Value Measurements The Company measures the fair value of financial assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The Company uses three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Quoted prices for similar assets and liabilities in active markets or inputs that are observable. Level 3 Inputs that are unobservable (for example, cash flow modeling inputs based on assumptions). Transfer into and transfers out of the hierarchy levels are recognized as if they had taken place at the end of the reporting period. There have been no changes in Level 1, Level 2, and Level 3 and no changes in valuation. The fair value of the Companys derivative liability was determined using significant unobservable measures and therefore classified as Level 3 . The Company does not have any financial instruments in the Level 1 or Level 2 category. Fair value measured as of December 31 2025 Total at December 31, 2025 Quoted prices in active markets Significant other observable inputs Significant unobservable inputs (Level 1) (Level 2) (Level …

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18. Income Taxes The Companys provision (benefit) for income taxes consists of the following for the year end and period ended December 31, 2025 and 2024: Deferred: 2025 2024 Federal $ (3,967,186 ) $ (1,790,407 ) State and local (269,077 ) (125,018 ) Total deferred (4,236,263 ) (1,915,425 ) Total provision (benefit) for income taxes (4,236,263 ) (1,915,425 ) Less: valuation reserve 4,236,263 1,915,425 Income tax provision $ $ - A reconciliation of the federal statutory rate to 0.0% for the years ended December 31, 2025 and December 31, 2024 to the effective rate for income from operations before income taxes is as follows: Benefit for income taxes at federal statutory rate 21.0 % State and local income taxes, net of federal benefit 1.4 Less valuation allowance (22.4 ) Effective income tax rate 0.0 % The tax effects of these temporary differences along with the net operating losses, net of an allowance for credits, have been recognized as deferred tax assets at December 31, 2025 and 2024 as follows: 2025 2024 Net operating loss carryforward $ 6,706,153 $ 1,790,468 Stock-based compensation 519,423 480,233 Depreciation (1,073,888 ) - Valuation allowance (6,151,688 ) (2,270,701 ) Net deferred tax asset $ - $ - The Company establishes a valuation allowance, if based on the weight of available evidence, it is more likely than not that some portion or all of the deferred assets will not be realized. The valuation allowance increased by $4,236,263 and $1,915,425 during the year ended …

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13. Leases The Company leases various equipment under non-cancellable operating lease agreements. The leases have remaining lease terms ranging from approximately one year to six years. Such leases have been recognized as operating leases. Supplemental balance sheet information related to leases is as follows: Balance Sheet Location December 31, 2025 Operating Leases Right-of-use assets $ 290,092 Current liabilities Lease liability, current maturities 60,446 Non-current liabilities Lease liability, net of current maturities 250,119 Total operating lease liabilities $ 310,565 Weighted Average Remaining Lease Term Operating leases 5.13 Weighted Average Discount Rate Operating leases 8 % The Company leases various equipment under non-cancellable operating lease agreements. The leases have remaining lease terms ranging from approximately one year to six years. Such leases have been recognized as operating leases. Supplemental balance sheet information related to leases is as follows: Balance Sheet Location December 31, 2025 Finance Leases Right-of-use assets (included in property and equipment) $ 2,110,471 Current liabilities Lease liability, current maturities 183,359 Non-current liabilities Lease liability, net of current maturities 982,887 Total finance lease liabilities $ 1,166,246 Weighted Average Remaining Lease Term Finance leases 3.17 Weighted Average Discount Rate Finance leases 8 % As the leases do not provide an implicit rate, the Company used an incremental borrowing …

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Recently adopted accounting pronouncements New accounting pronouncements implemented by the Company are discussed below or in the related notes, where appropriate. …

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14. Related Party Transactions As disclosed in Note 11, on January 29, 2025, the Company entered into a Mutual Release with SG Holdings in regards to amounts due as well as other amounts between the Company and SG Holdings. The total amount forgiven amounted to $391,524 and has been recorded in additional paid in capital. As of December 31, 2025 and December 31, 2024 included in accounts payable and accrued expenses is $610,000 and $460,000, respectively, due to the Companys board members. This includes pro-rated cash retainers for the 3 rd and 4 th quarter of 2024 and 1 st quarter of 2025. As of December 31, 2025, the Company had $2,094,833 due to related parties. These amounts resulted from advances from affiliates of the Company and are non-interest bearing and due on demand. As disclosed in Note 8, the Company has notes payable from related parties in the amount of $5,562,266 as of December 31 2025. The Company forgave an additional $430,100 of related party debt during the year ended December 31, 2025 which has been recorded as an increase to additional paid in capital. The Company incurred consulting fees from Marc Brune, father of Nicolai Brune, Chief Financial Officer, in the amount of $255,000 and $120,000 during the years ended December 31, 2025 and 2024, respectively. The Company employs Derek Villarreal, son of David Villarreal, Chief Executive Officer, and incurred payroll expenses of $140,000 and $140,000 during the years ended December 31, 2025, and 2024, respe …

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16. Segment Reporting The Companys Chief Operating Decision Maker (CODM) as defined under GAAP, who is the Companys Chief Financial Officer , determined that the Company organized its operations into four segments as of December 31, 2025: real estate development, technology, compost sales and logistics. The compost sales and logistics segments are currently the Companys main focus. These segments reflect the way our executive team evaluates the Companys business performance and manages its operations. The CODM used the below financial information to assess financial performance and allocate resources. Information for the Companys segments, is provided in the following table: Real Estate Development Technology Compost Sales Logistics Consolidated Fiscal Year Ended December 31, 2025 Revenue $ - $ 18,170 $ 2,266,984 $ 5,935,295 $ 8,220,449 Cost of revenue - 11,800 856,508 4,960,866 5,829,174 Operating expenses: - Payroll and related expenses 1,622,496 11,214 716,378 887,169 3,237,257 Professional and consulting fees 2,214,658 - 330,157 30,687 2,575,502 Other operating expenses 3,101,206 2,700 1,407,592 526,902 5,038,400 Impairment loss 687,613 278,199 - - 965,812 Bad debt expense 3,025,000 - - - 3,025,000 Total operating expenses 10,650,973 292,113 2,454,127 1,444,758 14,841,971 Operating loss (10,650,973 ) (285,743 ) (1,043,651 ) (470,329 ) (12,450,696 ) Other income (expense) (2,254,553 ) (7,324 ) (871,306 ) (373,220 ) (3,506,403 ) Net loss $ (12,905,526 ) $ (293,067 ) $ (1,91 …

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2. Summary of Significant Accounting Policies Basis of presentation and principals of consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and the applicable rules and regulations of the United States Securities and Exchange Commission (SEC). The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, LV Peninsula Holding, LLC (LV Holding), MyVonia Innovations LLC (MyVonia LLC), Resource Group, Resource Group US LLC (Resource), Zimmer Equipment Inc. (ZEI) and ETS Realty 1, LLC (ETS), as well as Sugar Phase I LLC (Sugar Phase) and Pulga Internacional LLC (Pulga) (until the time of deconsolidation of Sugar Phase and Pulga as described below). Recently adopted accounting pronouncements New accounting pronouncements implemented by the Company are discussed below or in the related notes, where appropriate. Accounting estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of expenses during the reporting period. Actual results could differ from those estimates. Revenue recognition The Company determines, at contract inception, whether it will transfe …

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11. Stockholders Equity As of December 31, 2025, the Company has 18,934,833 (946,742 as adjusted for the March Stock Split) shares of common stock post-split issued and outstanding. During the year ended December 31, 2025, the Company issued 342,548 shares of common stock (17,127 as adjusted for the March Stock Split) for the issuance of debt with a value of $413,239, as previously disclosed, as well as 83,333 shares of common stock (4,167 as adjusted for the March Stock Split) from the exercise of pre-funded warrants. During the year ended December 31, 2025, the Company issued 980,141 shares of common stock (49,007 as adjusted for the March Stock Split) resulting from the conversion of an aggregate of $1,450,000 of Arena Debentures principal amount and accrued interest. Additionally, during the year ended December 31, 2025, the Company issued 1,031,644 shares of common stock (51,582 as adjusted for the March Stock Split) resulting from the conversion of an aggregate of $828,158 from the Holders principal amount and 606,566 shares of common stock resulting from the conversion of an aggregate of $758,255 from the Holders principal amount. The conversions were within the terms of the underlying agreements and no gain or loss was recorded and resulted in an aggregate of 2,618,341 (130,917 as adjusted for the March Stock Split) shares of common stock being issued with a value of $3,014,401. During the year ended December 31, 2025, the Company issued an additional 309,692 shares o …

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19. Subsequent Events On January 26, 2026, the Company received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (Nasdaq) notifying the Company that for the preceding 30 consecutive business days (December 5, 2025 through January 20, 2026), the Companys common stock did not maintain a minimum closing bid price of $1.00 (Minimum Bid Price Requirement) per share as required by Nasdaq Listing Rule 5550(a)(2). The notice has no immediate effect on the listing or trading of the Companys common stock and the common stock will continue to trade on The Nasdaq Capital Market under the symbol RENX. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until July 27, 2026, to regain compliance with Nasdaq Listing Rule 5550(a)(2). Compliance may be achieved without further action if the closing bid price of the Companys common stock is at or above $1.00 for a minimum of ten consecutive business days at any time during the 180-day compliance period, in which case Nasdaq will notify the Company if it determines it is in compliance and the matter will be closed; however Nasdaq may require the closing bid price to equal or to exceed the $1.00 minimum bid price requirement for more than 10 consecutive business days before determining that a company complies. If, however, the Company does not achieve compliance with the Minimum Bid Price Requirement by July 27, 2026, the Company may be eligible …

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