NASDAQ: SONM
DNA X, Inc.CIK 0001178697 · Telephone & Telegraph Apparatus
We are a provider of crypto trading services to the public. Our services are available over the internet at www.dnax.us. We serve individual cryptocurrency traders around the world. Our products allow users to efficiently buy and sell cryptocurrencies with cash or cash equivalents, or to exchange… About this business →
DNA X faces Nasdaq delisting by June 2 as it raises $3M via convertible note secured by subsidiary
5 material changes detected. Sign up free to read the summary.
DNA X reports Q1 2026 financial results in routine earnings disclosure
2 material changes detected. Sign up free to read the summary.
Partner
Trade SONM commission-free
Open an account, get a free stock.
Investing involves risk. Free stock terms apply.
DNA X exits phone business for crypto trading; going concern raised amid $1.2M cash, control fight
5 material changes detected. Sign up free to read the summary.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
About DNA X, Inc.
Source: Item 1 (Business) from the 10-K filed April 15, 2026. Description as filed by the company with the SEC.
Item
1. Business.
Overview
We are a provider of crypto trading services to the public. Our services are available over the internet at www.dnax.us.
We serve individual cryptocurrency traders around the world. Our products allow users to efficiently buy and sell cryptocurrencies with
cash or cash equivalents, or to exchange one cryptocurrency for another cryptocurrency. Our platform allows users to execute strategies
between pairs of cryptocurrencies that allow them to swap between the currencies as the prices diverge or converge. This allows users
to automate strategies without the need to continuously monitor the market. We are developing products to increase the number of cryptocurrencies
that are available for trading on our platform and products the Company expects to bring in additional customers and drive additional revenue
from commissions and fees.
We are currently operating on a limited basis to monitor the platform and address
any bugs or performance issues. We plan to add additional features and products to the platform throughout 2026 as we execute our growth
strategy. We will continue to monitor the platform to ensure that it can handle the anticipated increase in trading volume.
We may use social media and traditional media to market our platform to potential customers. We may expand our marketing efforts as new
products become available to customers.
Prior to December 2025, when we acquired our platform, we operated under the name Sonim Technologies, Inc. and were
primarily focused on designing and manufacturing cell phones and mobile hotspots. We developed the software that ran on our products.
We completed the disposition of substantially all assets of our phone and hotspot business in January 2026.
Read full description ↓
Our
Products
Trading
and Swapping Cryptocurrencies
Our www.dnax.us website allows
users to trade or swap certain cryptocurrencies for other cryptocurrencies or for cash equivalent currencies. New customers can set up
an account on our website that will allow them to trade cryptocurrencies. The customer owns the assets before and after the trade and
commissions are automatically deducted from the trade. We do not take custody of any of our customers’ crypto assets. We employ
various security measures in an effort to protect our customers and ourselves from cyber threats. The trades on our platform are generally
completed immediately and there is no delay in settling the transactions.
Our platform allows anyone to set up an automated trading strategy and to buy one currency when the price ratio
with another currency is reached in one direction, and to sell the currency when the ratio is reached in the other direction. This allows
users to automatically trade and capture profits as cryptocurrencies trade with certain ranges. These strategies can be viewed by all
users and can be duplicated. Our platform maintains histories of the strategies that can be analyzed to develop new strategies. We generate
commission revenue from our users’ trading activity on our platform.
We are developing new products such as
products that are intended to allow users to loan out their cryptocurrencies in exchange for fees that are analogous to interest. We
are also working to expand our platform to provide users with the ability to trade additional cryptocurrencies.
Our
Strategy
The
three pillars of our go-forward strategy are as follows:
●
Demonstrate the trading strategies of existing users to show new users
how strategies can be implemented to capture profits. Keep a leaderboard to allow potential traders to see actual strategies being
implemented. Allow users to simulate trading to get familiar with how to use a strategy.
●
Add new products that will bring new users to our platform and provide us with additional opportunities to generate fees from new and existing users. Possible products are staking (borrowing assets to allow user to receive fees that are analogous to interest) and loaning funds from held customer assets.
●
Add additional cryptocurrencies that can be traded or swapped on the platform.
Our
Target Markets
We believe that anyone who owns cryptocurrencies can benefit from our platform.
And that those who do not own cryptocurrencies can learn how to profit from trading currencies and can use our platform to get started.
Sales
and Marketing
As of December 31, 2025, we have done minimal marketing for our trading
platform. Most of the growth of our platform has come through word of mouth and earned media on social media platforms. We plan on increasing
our marketing spend as we add new products and expand our platform to support new cryptocurrencies.
Competition
We operate in a highly competitive environment serving customers who trade
cryptocurrencies. We have positioned our services to be priced lower than our larger competitors. We monitor our competitors’ offerings,
and we will seek to implement features similar to other available platforms. Our fees are lower than our large
competitors and we believe that we have a model that keeps our costs as low as possible.
Intellectual
Property
We have obtained licenses for certain software that is incorporated into
our platform, and we pay fees to licensors that we report as cost of revenue. We have developed customizations to standard software that
we believe makes it difficult for others to duplicate our platform. We believe that our platform will provide a competitive advantage
over our competition as we add new customized features. We do not believe that our products infringe on the proprietary rights of any
third party. There can be no assurance, however, that third parties will not claim such infringement by us with respect to current or
future products.
For
further discussion of the risks in connection with each of the foregoing matters, see “