Soulpower signs $260M digital banking merger, raises $2.8M bridge loan amid going-concern doubt

Filed May 13, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2025 · ~1 min read

Key Changes

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  Company signed definitive merger with Soul World Bank in November 2025 to form international digital banking institution. Shareholders receive non-voting Class A shares while SWB members get voting control.

  MD&A: Definitive Merger Agreement verify on EDGAR →
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  Management disclosed substantial doubt about ability to continue as going concern due to April 2027 business combination deadline and conditions outside company's control.

  MD&A: Going-Concern Disclosure verify on EDGAR →
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  Sponsor provided $2.8M bridge financing via two notes: $745K A Note with 22% interest due at closing, and $2.06M B Note forgiven if merger closes but due in full if deal fails.

  MD&A: Bridge Financing verify on EDGAR →