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STEX on Nasdaq

Streamex Corp.

Streamex Corp. is an American security and commodity brokers company based in Winter Park.1 Its shares trade on Nasdaq under the symbol STEX.1

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Last updated Oct 21, 2026.

Overview

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  • TickerSTEX on Nasdaq1
  • IndustrySecurity & Commodity Brokers, Dealers, Exchanges & Services1
  • HeadquartersWinter Park, Florida1
  • Incorporated inDE2
  • Business address165 Lincoln Ave 2Nd Floor, Winter Park, Fl 327892
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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Company’s principal business is tokenized finance and real-world asset (“RWA”) digitization, conducted through Streamex.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-32155.0%Operating margin5
-25825.0%Net margin5
122.2%Revenue growth, 20245

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Research and development100¢$832.0K

Out of $40.0K in revenue.56 The company lost money this year.

Financial statements

Revenue789105$40.0K in 2024
0$200.0K$400.0K$600.0K2020: $0$020202021: $441.0K$441.0K20212022: $286.0K$286.0K2022−35%2023: $18.0K$18.0K2023−94%2024: $40.0K$40.0K2024+122%
Gross profit789$18.0K in 2023
0$100.0K$200.0K$300.0K2020: $0$020202021: $242.0K$242.0K20212022: $229.0K$229.0K2022−5%2023: $18.0K$18.0K2023−92%
Operating income11789105-$12.9M in 2024−63% since 2019
-$60.0M-$40.0M-$20.0M02019: -$34.6M-$34.6M20192020: -$59.2M-$59.2M2020+71%2021: -$33.4M-$33.4M2021−44%2022: -$27.3M-$27.3M2022−18%2023: -$28.5M-$28.5M2023+5%2024: -$12.9M-$12.9M2024−55%
Net income11789105-$10.3M in 2024−70% since 2019
-$60.0M-$40.0M-$20.0M02019: -$34.1M-$34.1M20192020: -$52.2M-$52.2M2020+53%2021: -$31.9M-$31.9M2021−39%2022: -$27.1M-$27.1M2022−15%2023: -$29.0M-$29.0M2023+7%2024: -$10.3M-$10.3M2024−64%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Revenue$40.0K
Research and development$31.0K$832.0K
General and administrative$67.5M$11.6M
Impairment of long term assets$253.0K
Depreciation and amortization$3.5M$188.0K
Total operating expenses$71.1M$12.9M
Loss from operations-$71.1M-$12.9M
Interest expense, net-$1.6M-$11.0K
Change in fair value of marketable securities-$777.0K
Loss on warrant settlement-$8.0M
Change in fair value of derivative liability-$389.7M
Change in fair value of embedded derivative$7.0M
Gain on settlement and forgiveness of accounts payable and other liabilities$196.0K$2.5M
Other income (expense), net:-$33.0K$23.0K
Total other income (expense), net-$392.9M$2.5M
Loss before income taxes-$464.0M-$10.3M
Income taxes (benefit)-$1.3M
Net loss-$462.8M-$10.3M
Non-controlling interest-$15.0K$9.0K
Net loss attributable to Streamex Corp.-$462.8M-$10.3M
Preferred stock dividend-$11.0K-$9.0K
Preferred stock deemed dividend-$174.0K
Net loss attributed to Streamex Corp. Common Shareholders-$462.8M-$10.5M
Net loss per common share, basic-$9.65-$0.75
Net loss per common share, diluted-$9.65-$0.75
Weighted average number of common shares outstanding, basic48.0M shares14.0M shares
Weighted average number of common shares outstanding, diluted48.0M shares14.0M shares
Change in foreign currency translation adjustments$814.0K
Total comprehensive loss-$461.9M-$10.3M
Comprehensive (loss) income attributable to non-controlling interest-$15.0K$9.0K
Comprehensive (loss) income attributable to Streamex Corp.-$462.0M-$10.3M

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Corporate structure

Streamex Corp. sits at the top of its group. 11 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Streamex Corp.

  • Streamex Corp. Winter Park, Florida
    • 1540875 B.C. Ltd. Subsidiary · British Columbia, Canada
    • BioSig AI Sciences Inc. Subsidiary · Delaware, United States
    • BST Sub ULC Subsidiary · British Columbia, Canada
    • GLDY ServiceCo LLC Subsidiary · Delaware, United States
    • Streamex Capital LLC Subsidiary · Delaware, United States
    • Streamex Exchange Corporation Subsidiary · British Columbia, Canada
    • Streamex Gold SPV LLC Subsidiary · Delaware, United States
    • Streamex Partners LLC Subsidiary · British Columbia, Canada
    • Streamex Tokenization Holdco SPV LLC Subsidiary · Delaware, United States
    • ViralClear Pharmaceuticals, Inc. Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Streamex Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.0M5 Dec 31, 2025$1.0M5 Dec 31, 20240%
Accumulated depreciation$1.0M5 Dec 31, 2025$951.0K5 Dec 31, 2024+6.3%
Property and equipment, net$25.0K5 Dec 31, 2025$85.0K5 Dec 31, 2024−70.6%
Operating-lease assets (leased space)$96.0K5 Dec 31, 2024$412.0K10 Dec 31, 2023−76.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$20.3M5 Dec 31, 2025$200.0K9 Dec 31, 2023+10050.0%
Long-term investments$165.0K5 Dec 31, 2025
Deposits held (banks)$19.7M5 Dec 31, 2025

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$71.0M5 Dec 31, 2025
Intangible assets, net (excluding goodwill)$44.6M5 Dec 31, 2025$269.0K5 Dec 31, 2024+16494.4%
Trademarks and trade names (indefinite-lived)$1.0K10 Dec 31, 2024$1.0K10 Dec 31, 20230%
Finite-lived intangibles, gross$47.9M5 Dec 31, 2025$380.0K5 Dec 31, 2024+12500.0%
Accumulated amortization-$3.6M5 Dec 31, 2025-$111.0K5 Dec 31, 2024−3154.1%
Finite-lived intangibles, net$44.6M5 Dec 31, 2025$269.0K5 Dec 31, 2024+16494.4%

Properties, in its own words

We maintain our principal executive office at 2431 Aloma Avenue Suite 243, Winter Park, Florida 32792, consisting of office space used for corporate administration and operations (approximately 3,000 square feet, leased on a month-to-month basis) and believe that our current facilities are sufficient for our current needs.

Item 2 of the 10-K filed Mar 31, 2026.4

Leadership

Who has led Streamex Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Gregory D. Cash2015–2017
  2. Kenneth L. Londoner2017–2023
  3. Anthony N. Amato2024–2025
  4. Karl Henry Michael McPhie2025–now

Chair

  1. Kenneth L. Londoner2017
  2. Morgan Lee Lekstrom2026–now

President

  1. Gregory D. Cash2015–2017

Chief financial officer

  1. Steve Chaussy2015–2022
  2. Steven J. Buhaly2023
  3. Ferdinand Groenewald2024–2026
  4. Christine Marie Plummer2026–now

Chief operating officer

  1. John Sieckhaus2022–2023
20202025
Board members and other officers (30)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Chief Commercial OfficerMichael Graydon Fleming, Jr. named Dec 30, 2022 to Jan 16, 202451
  • DirectorJames J. Barry named Dec 30, 2022 to Jan 16, 202451

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 1540875 B.C. Ltd. British Columbia, Canada3
  • BST Sub ULC British Columbia, Canada3
  • BioSig AI Sciences Inc. Delaware3
  • GLDY ServiceCo LLC Delaware3
  • Streamex Capital LLC Delaware3
  • Streamex Exchange Corporation British Columbia, Canada3
  • Streamex Gold SPV LLC Delaware3
  • Streamex Partners LLC British Columbia, Canada3
  • Streamex Tokenization Holdco SPV LLC Delaware3
  • ViralClear Pharmaceuticals, Inc. Delaware3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • BioSig Technologies, Inc.Sep 22, 2011 to Sep 11, 20252

Timeline

  1. Oct 9, 20268-K Listing notice or transfer52
  2. Sep 30, 20268-K Results of operations53
  3. Aug 21, 20268-K Results of operations; Regulation FD disclosure54
  4. Aug 4, 20268-K Executive or director change55
  5. Jul 13, 20268-K Change of auditor56
  6. May 28, 20268-K Other events57
  7. May 27, 20268-K Other events58
  8. May 4, 20268-K Executive or director change59
  9. Apr 10, 20268-K Regulation FD disclosure60
  10. Mar 27, 20268-K Entered a material agreement; Other events61
  11. Mar 20, 20268-K Executive or director change; Other events62
  12. Mar 6, 20268-K Entered a material agreement; Executive or director change; Other events63
  13. Jun 9, 2025New chief executive Karl Henry Michael McPhie becomes CEO14
  14. Jul 5, 2024New chief executive Anthony N. Amato becomes CEO15
  15. Nov 13, 2017New chief executive Kenneth L. Londoner becomes CEO16
  16. Jul 20, 2015New chief executive Gregory D. Cash becomes CEO17

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.47) a share, on Nov 14, 2025.64

When it reported results

  1. Sep 30, 2026Reported quarterly or annual results53
  2. Aug 21, 2026Reported quarterly or annual results54

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

411 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 159 major events, 138 insider forms, 6 large holders, 21 private raises, 66 other. The latest 20:

  1. Oct 9, 20268-K EDGAR
  2. Oct 7, 20264 EDGAR
  3. Oct 7, 20264 EDGAR
  4. Sep 30, 20268-K EDGAR
  5. Sep 3, 20264 EDGAR
  6. Aug 21, 20268-K EDGAR
  7. Aug 14, 202610-Q EDGAR
  8. Aug 4, 20268-K EDGAR
  9. Jul 13, 20268-K EDGAR
  10. Jul 10, 20264 EDGAR
  11. Jul 10, 20264 EDGAR
  12. Jun 15, 20264 EDGAR
  13. Jun 2, 20264 EDGAR
  14. May 28, 20264/A EDGAR
  15. May 28, 20264/A EDGAR
  16. May 28, 20268-K EDGAR
  17. May 28, 20264 EDGAR
  18. May 27, 20268-K EDGAR
  19. May 22, 20264 EDGAR
  20. May 21, 20264 EDGAR

The 411 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

54 open-market trades by officers, directors and large owners since October 2021: 47 buys and 7 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 2, 2026Williams Mitchell YoungChief Investment OfficerSale72,689$0.72$52.3KForm 4
Jun 12, 2026Lekstrom Morgan LeeInterim Executive ChairmanBuy50,000$0.99$49.8KForm 4
Jun 1, 2026Williams Mitchell YoungChief Investment OfficerSale23,810$1.05$25.0KForm 4
May 28, 2026Lekstrom Morgan LeeInterim Executive ChairmanBuy34,000$1.47$50.0KForm 4
May 21, 2026Marciano Anthony MarkDirectorBuy17,745$1.13$20.1KForm 4
May 21, 2026Lekstrom Morgan LeeInterim Executive ChairmanBuy147,000$1.04$153.1KForm 4
May 1, 2026Williams Mitchell YoungChief Investment OfficerSale263,863$0.79$208.5KForm 4
Apr 15, 2026Plummer Christine MarieChief Financial OfficerSale2,581$1.08$2.8KForm 4
Apr 14, 2026Lekstrom Morgan LeeInterim Executive ChairmanSale12,759$1.07$13.7KForm 4
Apr 14, 2026McPhie Karl Henry MichaelCEOSale30,611$1.07$32.8KForm 4
Apr 13, 2026Plummer Christine MarieChief Financial OfficerSale10,922$1.10$12.0KForm 4
Feb 18, 2026Lekstrom Morgan LeeInterim Executive ChairmanBuy20,000$2.50$50.0KForm 4
Feb 4, 2026GIUSTRA FRANK10% ownerBuy100,000$3.17$317.0KForm 4
Feb 3, 2026Lekstrom Morgan LeeInterim Executive ChairmanBuy23,500$3.06$71.9KForm 4
Jan 29, 2026Lekstrom Morgan LeeInterim Executive ChairmanBuy2,500$3.70$9.2KForm 4
Jan 27, 2026Lekstrom Morgan LeeInterim Executive ChairmanBuy5,500$3.12$17.2KForm 4
Jan 26, 2026Lekstrom Morgan LeeInterim Executive ChairmanBuy23,000$3.30$75.9KForm 4
Jan 23, 2026Lekstrom Morgan LeeInterim Executive ChairmanBuy47,000$3.13$147.1KForm 4
Jan 23, 2026GIUSTRA FRANK10% ownerBuy1,000,000$3.00$3.0MForm 4
Jan 23, 2026Williams Mitchell YoungChief Investment OfficerBuy51,511$3.03$156.1KForm 4

All 54 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Anthony AmatoFormer Chief Executive Officer, Former Chairman and Current Director$145.8K$2.3M69
2024Frederick D. HrkacFormer Principal Financial and Executive Officer$458.1K$458.1K69
2024Steven ChaussyFormer Chief Financial Officer$110.9K$157.1K69
2024Ferdinand GroenewaldInterim Chief Financial Officer41$106.5K$106.5K69
2024Kenneth L. LondonerFormer Chief Executive Officer, Executive Chairman and Director$59.9K$59.9K69
2023Kenneth L. LondonerFormer Chief Executive Officer, Executive Chairman and Director$854.9K$1.8M69
2023Steven ChaussyFormer Chief Financial Officer$499.6K$1.2M69
2023Frederick D. HrkacFormer Principal Financial and Executive Officer$52.4K$52.4K69

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Mar 5, 2025Raised $818,998 in a private offering of equity Form D: 11 investors so far Form D
  2. May 29, 2024Raised $3 million in a private offering of securities Form D: 4 investors so far Form D
  3. May 1, 2024Raised $1.1 million in a private offering of equity Form D: 6 investors so far Form D
  4. Jan 12, 2024Raised $1.5 million in a private offering of equity Form D: 7 investors so far Form D
  5. Oct 12, 2023Raised $860,933 in a private offering of equity Form D: 20 investors so far Form D
  6. Sep 21, 2023Raised $1.2 million in a private offering of equity Form D: 10 investors so far Form D
  7. Sep 12, 2023Raised $794,032 in a private offering of equity Form D: 4 investors so far Form D
  8. Jul 31, 2023Raised $2.2 million in a private offering of equity Form D: 1 investor so far Form D
  9. May 16, 2023Raised $3.7 million in a private offering of equity Form D: 20 investors so far Form D
  10. Apr 18, 2023Raised $1.4 million in a private offering of equity Form D: 14 investors so far Form D
  11. Mar 24, 2023Raised $1.5 million in a private offering of equity Form D: 5 investors so far Form D
  12. Mar 14, 2023Raised $2.5 million in a private offering of equity Form D: 17 investors so far Form D
  13. Feb 8, 2023Raised $603,045 in a private offering of equity Form D: 5 investors so far Form D
  14. Feb 3, 2023Raised $2 million in a private offering of equity Form D: 7 investors so far Form D
  15. Jan 25, 2023Raised $233,846 in a private offering of equity Form D: 3 investors so far Form D
  16. Jan 23, 2023Raised $1.9 million in a private offering of equity Form D: 1 investor so far Form D
  17. Jan 10, 2023Raised $1.8 million in a private offering of equity Form D: 17 investors so far Form D
  18. Dec 21, 2022Raised $1.1 million in a private offering of equity Form D: 8 investors so far Form D
  19. Nov 18, 2022Raised $1.5 million in a private offering of equity Form D: 10 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 53. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Legacy Wealth Managment, LLC/ID6,530,074$5.6M2.3%−499,277
Vanguard Capital Management LLC3,831,200$3.3M0.0%−126,794
Yorkville Advisors Global, LP3,750,000$3.2M3.7%No change
Geode Capital Management, LLC1,257,054$1.1M0.0%+338,267
BlackRock, Inc.933,112$793.4K0.0%No change
Vanguard Fiduciary Trust Co631,990$537.2K0.0%+204,882
State Street Corp603,990$513.6K0.0%+318,300
Renaissance Technologies LLC473,603$402.7K0.0%+71,999
Rossby Financial, LCC385,030$327.4K0.1%+64,000
UBS Group AG339,053$288.2K0.0%+164,930
Susquehanna International Group, Llp313,777$266.8K0.0%−348,304
National Bank Of Canada /fi/320,000$265.6K0.0%−10,000
United Capital Financial Advisors, LLC307,029$261.1K0.0%New
Shay Capital LLC285,466$242.7K0.0%−277,458
Northern Trust Corp235,394$200.2K0.0%+54,263
NorthCoast Asset Management LLC207,913$176.8K0.0%−30,000
PFG Investments, LLC147,841$125.7K0.0%+17,150
Quattro Advisors LLC103,345$87.9K0.1%No change
Savant Capital, LLC83,600$79.0K0.0%+55,300
One68 Global Capital, LLC90,836$77.2K0.2%−102,088
Greenleaf Trust68,632$58.4K0.0%No change
Goldman Sachs Group Inc67,480$57.4K0.0%+40,628
Group One Trading LLC51,817$44.1K0.0%New
Boothbay Fund Management, LLC44,456$37.8K0.0%−25,544
Point72 Asset Management, L.P.42,298$36.0K0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Streamex Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARStreamex Corp.1
  • CIK0001530766
  • Employer ID (EIN)26-43333754
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)6200 Security & Commodity Brokers, Dealers, Exchanges & Services1
  • SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
  • Business address165 Lincoln Ave 2Nd Floor, Winter Park, FL 327891
  • Phone(203) 409-54441
  • Shares outstanding116,465,417 as of Aug 13, 202612
  • Public float$190.0M as of Jun 30, 20254
  • AuditorCBIZ CPAs P.C., Marlton, New Jersey PCAOB ID 199; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceSep 22, 20111
  • Filings1,021 in all: 8-K (326), 4 (303), D (40), 3 (38), 10-Q (37), EFFECT (30), 4/A (24), CORRESP (23)1
    All 41 form types

    424B5 (21), POS AM (21), UPLOAD (20), D/A (13), S-1/A (13), 10-K (12), DEF 14A (12), DEFA14A (12), S-1 (8), 8-K/A (7), PRE 14A (7), 424B3 (5), S-3 (5), S-8 (5), 10-K/A (4), S-3/A (4), DEFR14A (3), NT 10-Q (3), SC 13D (3), 10-Q/A (2), 8-A12B (2), DEL AM (2), NT 10-K (2), RW (2), SC 13G (2), SC 13G/A (2), SCHEDULE 13D (2), 144 (1), 8-A12G (1), ARS (1), CERT (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Nov 20, 2025
    Latest 8-K (8-K) Oct 9, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.001 par value per shareSTEXNasdaq

From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Streamex Corp. names in Item 1A of its 10-K filed Mar 31, 2026: 76 risks under these headings, as written.4

  • Risks Related to Our Business and Industry
  • Because we have reverted to a development stage company, we expect to incur operating losses.
  • Our digital asset and tokenization business is new and unproven, subjecting us to numerous risks and uncertainties.
  • Our tokenized gold products and platform may be subject to extensive and evolving regulation, and we may be required to obtain licenses or registrations (including broker-dealer or alternative trading system regulation) that could delay or prevent commercialization.
  • Our tokenization strategy depends on third-party custody, reserve verification, and related operational controls that may not be fully implemented or may not operate as expected.
  • We may face operational and governance risks because we may retain centralized control over token smart contracts.
  • Tokenholders may not have perfected rights to underlying gold and may be treated as unsecured creditors in an insolvency scenario.
  • Our financial results and the market price may be adversely affected by fluctuations in the price of gold, other precious metals, and the volatility inherent in digital asset markets.
  • Our gold-linked tokenization and treasury strategy may expose us to complex liquidity risks across both traditional and digital asset markets, which could adversely affect our financial results.
  • We operate in the highly competitive gold market, and established market participants with greater resources, regulatory positioning, or brand recognition may outperform us.
  • Evolving regulatory requirements for gold trading and cross-border transactions may increase our compliance costs and could restrict or delay our operations.
  • Our ability to execute our business plan depends on the successful development, deployment, and commercialization of blockchain-based enterprise solutions for tokenized commodities, on-chain commodity markets, and treasury management, which may not materialize as expected.
The other 65 risks
  • Changes in laws and regulations, including increased regulation of blockchain technologies and digital assets, may adversely affect our business, product development, and compliance obligations.
  • Our platform may fail to achieve market adoption or effectively address key inefficiencies in the traditional gold and commodities markets.
  • Our gold-focused tokenization strategy will subject us to enhanced regulatory oversight across securities, commodities, and precious metals regimes, which may increase our compliance burdens and limit operational flexibility.
  • Discrepancies between token volume entitlements and actual gold holdings may lead to valuation uncertainty, settlement delays, and reputational harm.
  • The concentration of our holdings and strategy in gold may amplify the risks inherent in our business model and expose us to adverse market and operational developments.
  • Our gold holdings will be significantly less liquid than cash and cash equivalents and may not serve as a reliable source of liquidity in times of need.
  • Geopolitical instability, including conflict in the Middle East, could adversely affect gold markets, custody arrangements, cross-border settlement, and demand for our tokenized commodity products.
  • Our business may be adversely affected by sanctions, export controls, anti-money laundering laws, and heightened regulatory scrutiny relating to Iran and other sanctioned jurisdictions, particularly because our products are linked to physical gold and cross-border financial activity.
  • The freely transferable nature of tokenized RWA may increase market volatility and limit recourse for tokenholders in the event of disputes or enforcement actions.
  • Holders of GLDY bear the economic risk of gold price fluctuations and potential non-performance by gold leasing counterparties.
  • Our ability to build and scale a community of clients and investor end-users for blockchain-enabled financial services and products is uncertain and depends on successful market adoption, product development, and execution of our business strategy.
  • Risks Related to Bullion Custody and Token Structure
  • Streamex’s bullion custody infrastructure, although established, depends on third-party custodians and service providers, and any failure, interruption, or change in those arrangements could adversely affect its business.
  • Although Streamex has engaged an LBMA-accredited custodian, it remains subject to risks associated with reliance on that custodian and with maintaining LBMA-standard bullion custody arrangements.
  • Gold may be held on an unallocated basis, and there is no current mechanism to link tokens to individual bullion bars, which may introduce custody, transparency, and redemption risks.
  • In the event of loss, theft, or damage to the gold, recovery of value may depend entirely on the custodian’s insurance and operational reliability.
  • Streamex retains centralized control over the token smart contracts, including upgrade authority, which may result in operational or governance risks.
  • There is no live proof-of-reserves dashboard or public confirmation of 1:1 gold backing for tokens at this time.
  • Streamex may not prevent issuance of tokens in excess of gold held if smart contract or operational safeguards fail.
  • Streamex’s tokenized gold products are expected to be classified as securities exposing Streamex to comprehensive and evolving regulatory obligations across multiple jurisdictions.
  • Streamex has not received any no-action relief or regulatory approvals in the United States or other jurisdictions outside Canada, which may subject it to enforcement risk and limit its ability to operate.
  • Onboarding is subject to AML/KYC procedures, but compliance infrastructure and enforcement mechanisms may be evolving or incomplete.
  • Tokens are not currently listed on any exchange, and no market makers are engaged to provide liquidity or price stability.
  • In the event the bullion custodian or Streamex ceases operations, tokenholders may suffer losses and may not recover their full holdings.
  • If we were deemed to be an investment company under the Investment Company Act of 1940, applicable restrictions could significantly limit our business operations and adversely affect our ability to execute our strategy.
  • Our PURE EP and other product candidates are in continued development and may not be successfully developed or commercialized.
  • We may need to finance our future cash needs through public or private equity offerings, debt financings or corporate collaboration and licensing arrangements. Any additional funds that we obtain may not be on terms favorable to us or our stockholders and may require us to relinquish valuable rights.
  • We may be unable to develop our existing or future technology.
  • We may experience delays in any phase of the preclinical or clinical development of a product, including during its research and development.
  • We have completed one clinical trial of our product. The results of additional clinical studies may not support the usefulness of our technology.
  • The medical device industry is subject to stringent regulation and failure to obtain regulatory approval will prevent commercialization of our products.
  • We, and our third-party manufacturer(s), are, and will be, subject to extensive regulation by the FDA.
  • Regulations are constantly changing, and in the future our business may be subject to additional regulations that increase our compliance costs.
  • The market for our technology and revenue generation avenues for our EP products may be slow to develop, if at all.
  • Our estimate of the size of our addressable EP market may prove to be inaccurate.
  • If we seek to market our EP products in foreign jurisdictions, we may need to obtain regulatory approval in these jurisdictions.
  • The EP market is highly competitive.
  • We rely on key officers, consultants and scientific and medical advisors, and their knowledge of our business and technical expertise would be difficult to replace.
  • We may fail to attract and retain qualified personnel.
  • If we do not effectively manage changes in our business, these changes could place a significant strain on our management and operations.
  • Our strategic business plan may not produce the intended growth in revenue and operating income.
  • We currently have limited sales, marketing or distribution operations and will need to expand our expertise in these areas.
  • Our product development program depends upon third-party researchers, including Mayo Clinic, who are outside our control and whose negative performance could materially hinder or delay our pre-clinical testing or clinical trials.
  • If healthcare providers are unable to obtain sufficient reimbursement or other financial incentives from third-party healthcare payers related to the use of our products, their adoption and our future product sales will be materially adversely affected.
  • We may face risks associated with future litigation and claims.
  • We may be subject, directly or indirectly, to U.S. federal and state healthcare laws, including fraud and abuse, false claims, and privacy laws and regulations. Prosecutions under such laws have increased in recent years and we may become subject to such litigation and enforcement. If we are unable to, or have not fully complied with such laws, we could face substantial penalties.
  • We could be adversely affected if healthcare legislation or reform measures substantially change the market for medical care or healthcare coverage in the U.S., negatively affecting our business or revenue for PURE EP or future products.
  • As a smaller reporting company, we are subject to scaled disclosure requirements that may make it more challenging for investors to analyze our results of operations and financial prospects.
  • Global economic uncertainty and financial market volatility caused by political instability, changes in international trade relationships and conflicts could make it more difficult for us to access financing and could adversely affect our business and operations.
  • The U.S. Congress, the Trump administration, or any new administration may make substantial changes to fiscal, tax, and other federal policies that may adversely affect our business.
  • The Company has concluded that there are material weaknesses in its internal control over financial reporting, which, if not remediated, could materially adversely affect its ability to timely and accurately report its results of operations and financial condition. The accuracy of the Company’s financial reporting depends on the effectiveness of its internal controls over financial reporting.
  • There are inherent limitations in all control systems, and misstatements due to error or fraud may occur and not be detected.
  • Risks Related to Our Intellectual Property
  • If we do not obtain protection for our intellectual property rights, our competitors may be able to take advantage of our research and development efforts to develop competing products.
  • If we infringe upon the rights of third parties, we could be prevented from selling products and forced to pay damages and defend against litigation.
  • We depend on our collaboration with Mayo Clinic for the research and development of additional advanced features of PURE EP. If this collaboration is not successful, we may not be able to realize the market potential of such features and may not have rights to use any such developed advanced features.
  • If we fail to comply with our obligations under our license agreements, we could lose the rights to intellectual property that is important to our business.
  • We may be subject to damages resulting from claims that we or our employees have wrongfully used or disclosed alleged trade secrets of their former employers.
  • Obtaining and maintaining patent protection depends on compliance with various procedures and other requirements, and our patent protection could be reduced or eliminated in case of non-compliance with these requirements.
  • Risks Related to our Common Stock
  • The market price for our common stock may fluctuate significantly, which could result in substantial losses by our investors.
  • Our common stock is classified as a “penny stock;” the restrictions of the penny stock regulations of the SEC may result in less liquidity for our common stock.
  • Our failure to meet the continued listing requirements of Nasdaq could result in a delisting of our common stock, which could negatively impact the market price and liquidity of our common stock and our ability to access the capital markets.
  • Future sales of our common stock in the public market or other financings could cause our stock price to fall.
  • If we sell additional equity or debt securities to fund our operations, it may impose restrictions on our business.
  • Our stockholders may experience substantial dilution as a result of the exercise of outstanding options or warrants to purchase shares of our common stock, upon conversion of our Series C preferred stock into shares of our common stock, or upon conversion of our exchangeable shares into shares of our common stock.
  • Our significant stockholders and members of management collectively own a substantial portion of our outstanding voting power, which may limit the ability of other stockholders to influence corporate matters.
  • Delaware law and our Amended and Restated Certificate of Incorporation and By-laws contain anti-takeover provisions that could delay or discourage takeover attempts that stockholders may consider favorable.

Legal proceedings

In November 2025, Richard Coglon filed a Notice of Civil Claim in the Supreme Court of British Columbia against the Company, its wholly owned subsidiary Streamex Exchange, and certain current officers and directors. The complaint alleges, among other things, breach of contract, inducing breach of contract, unjust enrichment, and civil conspiracy in connection with alleged oral and implied agreements relating to equity interests in Streamex Exchange prior to the Company’s acquisition of Streamex Exchange.

The plaintiff seeks, among other relief, specific performance, equitable compensation, damages, and the imposition of a constructive trust. The Company disputes the claims and intends to defend the matter vigorously. As of December 31, 2025, no liability has been recorded in the consolidated financial statements related to this matter, as management, after consultation with legal counsel, believes that a loss is not probable. The matter is in a preliminary stage and, as a result, the Company is unable to reasonably estimate the possible loss or range of loss, if any, associated with this matter at this time.

We may be subject at times to other legal proceedings and claims, which arise in the ordinary course of our business. Although occasional adverse decisions or settlements may occur, the Company believes that the final disposition of such matters should not have a material adverse effect on its financial position, results of operations or liquidity.

There are no material proceedings in which any of our directors, officers or affiliates or any registered or beneficial shareholder of more than 5% of our common stock is an adverse party or has a material interest adverse to our interest.

The opening of Item 3, Legal Proceedings.4

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