Lite Strategy, Inc.
For the period ended Jun 30, 2025. Filed Sep 26, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Sep 26, 2025
Contents
Table of Contents
| Page | ||
|---|---|---|
| PART I | ||
| Item 1: | Business | 5 |
| Item 1A: | Risk Factors | 19 |
| Item 1B: | Unresolved Staff Comments | 29 |
| Item 1C: | Cybersecurity | 29 |
| Item 2: | Properties | 30 |
| Item 3: | Legal Proceedings | 30 |
| Item 4: | Mine Safety Disclosures | 30 |
| PART II | ||
| Item 5: | Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 30 |
| Item 6: | [Reserved] | 31 |
| Item 7: | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 31 |
| Item 7a: | Quantitative and Qualitative Disclosures about Market Risk | 37 |
| Item 8: | Consolidated Financial Statements and Supplementary Data | 38 |
| Item 9: | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | 64 |
| Item 9A: | Controls and Procedures | 64 |
| Item 9B: | Other Information | 64 |
| Item 9C: | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 65 |
| PART III | ||
| Item 10: | Directors, Executive Officers and Corporate Governance | 66 |
| Item 11: | Executive Compensation | 72 |
| Item 12: | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 84 |
| Item 13: | Certain Relationships and Related Transactions and Director Independence | 85 |
| Item 14: | Principal Accountant Fees and Services | 85 |
| PART IV | ||
| Item 15: | Exhibits, Financial Statement Schedules | 87 |
Forward-Looking Statements
This Annual Report on Form 10-K (Annual Report) includes forward-looking statements, which involve a number of risks and uncertainties. These forward-looking statements can generally be identified as such because the context of the statement will include words such as “may,” “will,” “intend,” “plan,” “believe,” “anticipate,” “expect,” “estimate,” “predict,” “potential,” “continue,” “likely,” or “opportunity,” the negative of these words or other similar words. Similarly, statements that describe our future plans, strategies, intentions, expectations, objectives, goals or prospects and other statements that are not historical facts are also forward-looking statements. Discussions containing these forward-looking statements may be found, among other places, in “Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Annual Report. For such statements, we claim the protection of the Private Securities Litigation Reform Act of 1995. Readers of this Annual Report are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the time this Annual Report was filed with the Securities and Exchange Commission, or SEC. These forward-looking statements are based largely on our expectations and projections about future events and future trends affecting our business and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. These risks and uncertainties include, without limitation, those discussed in “Risk Factors” and in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this Annual Report. Other sections of this report and our other filings with the SEC may include additional factors which could adversely impact our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. There is substantial uncertainty regarding the impact of activist investors, current or expected inflation rates and fluctuating interest rates as a result and other responses from the Federal Reserve thereto, a potential economic downturn, industry, global economic conditions, government policy including the evolving regulatory environment and the implementation of our business model and strategic plans for our business, including our ability to manage the risks inherent in operating our cryptocurrency business and in safekeeping cryptocurrency assets. New risk factors emerge from time to time and it is not possible for us to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. In addition, past financial or operating performance is not necessarily a reliable indicator of future performance and you should not use our historical performance to anticipate results or future period trends. We can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them do, what impact they will have on our results of operations and financial condition. Except as required by law, we undertake no obligation to update publicly or revise our forward-looking statements to reflect events or circumstances that arise after the filing of this Annual Report or documents incorporated by reference herein that include forward-looking statements.
Unless the context requires otherwise, references in this Annual Report to “Lite Strategy,” “we,” “us” and “our” refer to Lite Strategy, Inc.
Lite Strategy, Inc. and our corporate logo are registered service marks of Lite Strategy. Any other brand names or trademarks appearing in this Annual Report are the property of their respective holders.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.