Streamex pivots to tokenized assets, posts $46.7M loss amid control weaknesses and equity dilution

Filed May 14, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 19, 2025 · ~1 min read

Key Changes

• high

  Net loss ballooned to $46.7M from $2.8M year-ago, driven by $25.4M in stock-based compensation (74% of G&A), $12.2M in convertible debt interest, and a $3.1M loss on early debt payoff funded by a $40M equity raise.

  MD&A: Financial Results verify on EDGAR →
• high

  Company acquired Streamex Exchange in May 2025, pivoting from medical devices to tokenized finance. Launched GLDY token backed by $15.2M in gold bullion, but management holds 98.5% of tokens with minimal external adoption.

  MD&A: Business Overview verify on EDGAR →
• high

  Material weaknesses expanded from three to four, adding ineffective controls over business combinations and financial instruments. New CFO appointed March 2026 and external advisors engaged, but weaknesses remain unremediated.

  Controls and Procedures verify on EDGAR →