$WSHP

WeShop Holdings Ltd

CIK:0002048271|SEC Filings

Consolidated Statements of Operations - GBP (£)	12 Months Ended
Consolidated Statements of Operations - GBP (£)	Dec. 31, 2025	Dec. 31, 2024
Income Statement [Abstract]
Net revenues	£ 422,859	£ 1,294,770
Costs and expenses:
Cost of sales	1,037,552	5,722,074
General and administrative	23,976,304	4,073,211
Sales and marketing	27,103	438,424
Research and development	626,263	229,426
Depreciation and amortization expense	2,011,565	2,015,877
Performance incentive share-based compensation	35,859,087	0
Total costs and expenses	63,537,874	12,479,012
Operating loss	(63,115,015)	(11,184,242)
Other income (loss):
Other income (loss), net	(11,710)	32,438
Change in fair value of convertible notes payable	479,022	(479,024)
Interest expense	(665,737)	(690,923)
Net loss	£ (63,313,440)	£ (12,321,751)
Basic net loss per Ordinary Share (in pounds per share)	£ (7.28)	£ (1.70)
Diluted net loss per Ordinary Share (in pounds per share)	£ (7.28)	£ (1.70)
Weighted average ordinary shares outstanding, basic (in shares)	8,699,025	7,228,113
Weighted average ordinary shares outstanding, diluted (in shares)	8,699,025	7,228,113

Consolidated Statements of Cash Flows - GBP (£)	12 Months Ended
Consolidated Statements of Cash Flows - GBP (£)	Dec. 31, 2025	Dec. 31, 2024
Cash Flows from Operating Activities
Net loss	£ (63,313,440)	£ (12,321,751)
Adjustment to reconcile net loss to cash used in operating activities:
Depreciation and amortization expense	2,011,565	2,015,877
Provision for returns reserve	(81,490)	(31,731)
Share-based compensation	54,707,624	5,842,540
Amortization of debt discount	0	63,600
Change in fair value of convertible notes	(479,022)	479,024
Changes in operating assets and liabilities:
Accounts receivable	118,412	612,156
Other current assets	(438,384)	(3,001)
Accounts payable and accrued expenses	2,426,828	563,628
Net cash used in operating activities	(4,348,921)	(2,159,165)
Cash flows from Investing Activities
Purchases of property and equipment	(1,547)	(5,930)
Net cash used in investing activities	(1,547)	(5,930)
Cash flows from Financing Activities
Issuance of ordinary shares in exchange for cash	0	60,750
Repayments of convertible notes payable	(141,198)	0
Net cash provided by financing activities	4,325,468	2,053,750
Net decrease in cash	(25,000)	(111,345)
Cash, beginning of year	28,066	139,411
Cash, end of the year	3,066	28,066
Supplemental non-cash disclosures:
Issuance of convertible note in settlement of vendor liabilities (non-cash)	50,000	0
Non-cash Payment in Kind ("PIK") Interest	108,441	0
Interest forgiven (of which £3,805 is related party)	(116,671)	(883,599)
Settlement of share-based compensation liability via share issuance	390,298	0
Related Party
Changes in operating assets and liabilities:
Accrued interest	255,736	475,909
Cash flows from Financing Activities
Proceeds from the issuance of notes payable	1,766,666	0
Proceeds from the issuance of convertible notes payable	1,500,000	425,000
Supplemental non-cash disclosures:
Conversion of convertible notes payable to equity	3,157,084	7,750,000
Interest forgiven (of which £3,805 is related party)	(3,805)
Nonrelated Party
Changes in operating assets and liabilities:
Accrued interest	443,250	144,584
Cash flows from Financing Activities
Proceeds from the issuance of notes payable	100,000	0
Proceeds from the issuance of convertible notes payable	1,100,000	1,568,000
Supplemental non-cash disclosures:
Conversion of convertible notes payable to equity	£ 3,584,962	£ 0

Consolidated Balance Sheets - GBP (£)	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash	£ 3,066	£ 28,066
Accrued income, net of returns reserve	49,114	86,036
Other current assets	501,943	63,559
Total current assets	554,123	177,661
Intangible assets, net	11,758,905	13,758,907
Property and equipment, net	25,839	35,853
Total assets	12,338,867	13,972,421
Current liabilities
Accounts payable and accrued expenses	4,069,330	1,627,450
Convertible notes payable	0
Notes payable	340,072	231,631
Total current liabilities	6,386,733	6,156,517
Share-based compensation liability	0	390,298
Total liabilities	6,386,733	6,546,815
Commitments and contingencies (Note 12)
Accumulated deficit	(147,995,954)	(84,682,514)
Total shareholders' equity	5,952,134	7,425,606
Total liabilities and shareholders' equity	12,338,867	13,972,421
Class A - Ordinary Shares
Current liabilities
Ordinary shares	153,948,088	92,108,120
Class B - Ordinary Shares
Current liabilities
Ordinary shares	0	0
Nonrelated Party
Current liabilities
Convertible notes payable	0	1,771,593
Convertible notes payable, at fair value	0	1,213,564
Loans payable	100,000	0
Accrued interest	67,512	144,585
Related Party
Current liabilities
Convertible notes payable	0	999,937
Convertible notes payable, at fair value	0	40,930
Loans payable	1,766,666	0
Accrued interest	43,153	126,827
Share-based compensation liability	£ 0	£ 390,298