Streamex pivots from medical devices to tokenized finance; $463M loss driven by accounting

Filed March 31, 2026 · Period ending December 31, 2025 · Compared to 10-K Apr 15, 2025 · ~1 min read

Key Changes

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  Company acquired Streamex Exchange in May 2025 and pivoted from medical device development (BioSig) to tokenized finance platform, rebranding as Streamex Corp. (ticker: STEX) in September. First product GLDY (tokenized gold) launched February 2026.

  MD&A: Business Transformation verify on EDGAR →
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  Net loss exploded to $462.8M from $10.5M prior year, driven by $389.7M non-cash derivative liability loss from acquisition structure and $57.1M stock compensation (up from $7.0M). Both charges are non-cash but signal massive accounting volatility and shareholder dilution.

  MD&A: Financial Results verify on EDGAR →
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  Raised $90M through January 2026 equity offering ($40.25M gross, 13.4M shares at $3.00) and Q4 2025 Yorkville convertible debt ($50M). Used proceeds to eliminate secured debt and strengthen liquidity; management now believes cash sufficient for 12+ months.

  MD&A: Financing Activities verify on EDGAR →