Financial Analysis

20. Commitments and Contingencies Legal Proceedings From time to time, the Company may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties and an adverse result in these or other matters may arise from time to time that may harm our business. The Company is currently not aware of any such legal proceedings or claims that it believes will have a material adverse effect on its business, financial condition or operating results. Retirement Plans The Company does not maintain a defined contribution plan or any other type of retirement plan for its employees. Leases The Company has a non-cancellable operating lease commitment for its office facility expiring in 2028. Rent expense totaled $161,664 and $161,664 for the years ended June 30, 2026 and 2025, respectively. The following table discloses the lease cost, discount rate, and remaining lease term for operating leases as of June 30, 2026 and 2025: June 30, 2026 June 30, 2025 Operating lease cost $ 161,664 $ 161,664 Remaining lease term 1.7 years 2.7 years Discount rate 6.56 % 6.56 % The discount rate was determined using the Companys external debt and was adjusted for collateralization, term and lease amount. The following table discloses the undiscounted cash flows on an annual basis and a reconciliation of the undiscounted cash flows of operating lease liabilities recognized in the balance sheet as of June 30, 2025: …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

14. Debt Promissory Notes On October 17, 2022, the Company issued a promissory note in the principal amount of $3,000,000 to Burlington Capital, LLC (Burlington), which bore interest at 7% per annum and was to mature on October 17, 2023. On September 13, 2023, the parties signed an extension agreement, pursuant to which the interest rate was increased to 10% per annum and the maturity date was extended to the earlier of (a) the closing of a firm commitment initial public offering and concurrent listing on a national securities exchange or (b) December 17, 2023. On December 17, 2023, the parties signed a second extension agreement, pursuant to which the maturity date was extended to the earlier of (a) the closing of a firm commitment initial public offering and concurrent listing on a national securities exchange or (b) April 4, 2024. On April 30, 2024, the Company and Burlington entered into an extension agreement which extended the maturity date to May 9, 2024. On May 31, 2024, Burlington and Walker Water LLC (WW) entered into an allonge, assignment and agreement (the Burlington Assignment Agreement), pursuant to which Burlington agreed to transfer $633,840 of the note to WW. The Burlington Assignment Agreement also provided that the Company make a payment of $900,000 on May 31, 2024 to Burlington to reduce the principal amount of the note by $480,667 and pay the outstanding accrued interest of $419,333 in full. Also on May 31, 2024, the Company issued an amended and restate …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table disaggregates revenue by product category for the following periods: Years Ended June 30, 2026 2025 Janitorial and Sanitation $ 2,967,036 $ 1,811,870 Other 439,398 260,963 Total Revenue $ 3,406,434 $ 2,072,834 The following table disaggregates revenue by geographical region for the following periods: Years Ended June 30, 2026 2025 Domestic $ 2,624,100 $ 2,050,283 International 782,334 22,551 Total Revenue $ 3,406,434 $ 2,072,834

DisaggregationOfRevenueTableTextBlock

19. Income Taxes The Company files income tax returns in the U.S. federal and applicable foreign and state jurisdictions. Management of CleanCore is required to analyze all open tax years, as defined by the statute of limitations, for all major jurisdictions, which includes federal and certain states. The fiscal year ended June 30, 2023 was the entitys initial year of existence, and is not subject to federal or state tax examinations prior to this period. The tax impact of the Irish subsidiary in the current tax year did not have a material impact on the companys tax provision. On July 4, 2025, the United States enacted tax reform legislation through the One Big Beautiful Bill Act, which changes existing U.S. tax laws, including extending or making permanent certain provisions of the Tax Cuts and Jobs Act, repealing certain clean energy initiatives, in addition to other changes. The Company analyzed this information and there is not significant impact. The Companys provision for income taxes is comprised of the following components: Years Ended June 30, 2026 2025 Current Tax Expense (Benefit) Federal - - State - - Current Tax Expense (Benefit) $ - $ - Deferred Tax Expense (Benefit) Federal - - State - - Deferred Tax Expense (Benefit) - - Total Income Tax Expense (Benefit) $ - $ - The Companys income tax expense from continuing operations for the year ended June 30, 2026 differed from the statutory federal rate of 21% as follows: Pre-Tax Book Net Loss $ (174,074,701 ) Years En …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements Accounting Pronouncements Adopted In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance in this update is effective for all public entities for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company has adopted this pronouncement for the fiscal year beginning July 1, 2024, which did not result in a material impact on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-08, IntangiblesGoodwill and OtherCrypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets (ASU 2023-08). ASU 2023-08 requires in-scope crypto assets (including the Companys dogecoin holdings) to be measured at fair value in the statement of financial position, with gains and losses from changes in the fair value of such crypto assets recognized in the statement of operations each reporting period. ASU 2023-08 also requires certain interim and annual disclosures for crypto assets within the scope of the standards. The Company adopted this guidance effective September 2025. In December 2023, the FASB issued ASU 2023-09, Income Taxes …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

15. Related Party Transactions As of June 30, 2026 and 2025, the Company had a short-term amount due to Clayton Adams, its Chief Executive Officer and founder, in the amount of $1,619 and $41,895, respectively, for operational expenses paid by a credit card in his name. The Company has a verbal agreement with Mr. Adams to pay the credit card charges directly to the issuing financial institution as they become due and is current on these payments. On October 17, 2022, the Company entered into a consulting agreement with Birddog Capital, LLC (Birddog), a limited liability company owned by Clayton Adams, pursuant to which the Company engaged Birddog to provide management services to the Company. Pursuant to the consulting agreement, the Company agreed to pay Birddog a monthly fee of $6,000 commencing on October 17, 2022. The Company also agreed to reimburse Birddog for all pre-approved business expenses. The term of the consulting agreement was for one (1) year. On April 1, 2024, the Company entered into a new consulting agreement with Birddog which provides for a monthly fee of $22,000. In addition, the Company agreed to pay Birddog $175,000 upon completion of the initial public offering and grant Birddog 500,000 restricted stock units, with 250,000 shares vesting immediately and 250,000 shares vesting eighteen months after issuance. The Company did not make such payment or issue such shares upon completion of the initial public offering. On June 11, 2025, the Company and Birdd …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

3. Disaggregated Revenue The following table disaggregates revenue by product category for the following periods: Years Ended June 30, 2026 2025 Janitorial and Sanitation $ 2,967,036 $ 1,811,870 Other 439,398 260,963 Total Revenue $ 3,406,434 $ 2,072,834 The Other category of revenue consists primarily of sales of ice and laundry units, parts, accessories, shipping and handling, and equipment rental income. The following table disaggregates revenue by geographical region for the following periods: Years Ended June 30, 2026 2025 Domestic $ 2,624,100 $ 2,050,283 International 782,334 22,551 Total Revenue $ 3,406,434 $ 2,072,834 …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

18. Segment Information During the twelve months ended June 30, 2026, the Company operated three Segments: CleanCore, which specializes in the development and production of cleaning products that produce pure aqueous ozone using patented nanobubble technology that is highly effective in cleaning, sanitizing, and deodorizing surfaces and high-touch areas Treasury, established on September 5, 2025 when the Company adopted a Digital Asset Trading strategy focused on Dogecoin as part of a $175 million private placement offering. Critical AI Infrastructure, announced on June 8, 2026, focused on building data centers to meet the increasing compute needs of AI companies Due to the establishment of our digital asset treasury strategy on September 5, 2025, and AI Critical Infrastructure business on June 8, 2026, we had three reportable operating segments as of June 30, 2026: (i) the CleanCore segment, which was engaged in the development and production of cleaning products and solutions that are marketed for professional, industrial, or home use; (ii) the Treasury segment, which executed our digital asset treasury strategy focused on Dogecoin and includes the Treasury Assets; and (iii) the AI Critical Infrastructure segment, which is building the next generation of data centers that help power the AI economy. The Treasury segment included dedicated resources assigned to execute on our digital asset strategy, unrealized gain or loss on digital assets, and other third-party costs associ …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

2. Summary of Significant Accounting Policies Basis of Presentation and Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC) and include the accounts of the Company and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Use of Estimates The preparation of the Companys consolidated financial statements require management to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure in the Companys consolidated financial statements and accompanying notes. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from managements estimates. Significant estimates and assumptions made by the Company are allowance for bad debt, useful lives of fixed assets, warranty liabilities, accrued contingent liabilities, and allowance for inventory obsolescence. Foreign Currency The Companys consolidated financial statements are reported in U.S. Dollars …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

21. Subsequent Events The Company has evaluated events subsequent to June 30, 2026 to assess the need for potential recognition or disclosure. Such events were evaluated through September 28, 2026, the date the consolidated financial statements were available to be issued. The following were noted: On July 9, 2026, the Company announced its first data center project. Located in West Texas, and with development platform provider HST Technologies, Inc., the companys plan projects the initial phase to supply 200-megawatts of critical IT utility load to tenants by early 2029, with initial revenue expected in the first half of the calendar year 2028 as part of a phased approach. The project has the potential to expand to more than 500-megawatts by 2030. On July 20, 2026, substantially all Dogecoin assets were sold for approximately $33.4 million. The proceeds will be used to fund the Companys AI strategy. On July 29, 2026, the Company announced its second data center project, a 40-megawatt critical IT load campus located in Minnesota with a fully executed tenancy agreement with Cerebras Systems, a leading AI compute company. The site is currently under construction, and the Company expects to bring approximately at least 55-megawatts of utility power capacity and 40-megawatts of critical IT load fully online by the end of the second calendar quarter of 2027. Revenue is expected to steadily increase in the first half of 2027. The initial contract value is over $800 million dollars …

SubsequentEventsTextBlock · excerpt; the full note is in the filing