Streamex Corp.
For the period ended Sep 30, 2025. Filed Nov 14, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 14, 2025
STEX$0.34+4.1%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-15.
0001641172-25-024455
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-14.
0001493152-25-023661
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 90 previous paragraphs and 82 current paragraphs.
37 unchanged; 34 reworded; 11 added; 17 removed; 2 previous and 0 current paragraphs rearranged.
Tables are not compared: 7 previous and 7 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (11)
Current report
On May 28, 2025, Streamex Corp. completed its acquisition of Streamex Exchange. The financial results for the three months ended September 30, 2025 include the full activity of Streamex Corp. and all of its wholly and majority-owned subsidiaries, including Streamex Exchange, which has been fully consolidated since the acquisition date. Accordingly, the consolidated financial statements for the third quarter reflect the complete operations of Streamex Exchange for the entire three-month period.
Current report
General and Administrative Expenses. General and administrative expenses for the three months ended September 30, 2025 were $4,619, an increase of $1,856 or 67%, from $2,763 incurred in the three months ended September 30, 2024. The increase was primarily driven by higher professional fees and consulting costs associated with the Streamex Exchange acquisition and related integration activities. Accounting fees rose by approximately $292 for audit and compliance support. Shareholder relations costs also increased by $418, mainly due to board fees and higher investor relations and public relations spending. Marketing expenses of approximately $579 were incurred in the current period compared to none in the prior period, as the Company launched initiatives to enhance brand visibility. Payroll and related costs increased by approximately $429, primarily due to expanded corporate staffing and executive compensation, and directors’ and officers’ insurance premiums. Legal fees increased by approximately $596, due to the acquisition with Streamex Exchange Corp. and expanding of the operations under Streamex Exchange Corp. These increases were partially offset by lower patent-related costs compared to the prior period. Overall, the increase reflects the Company’s strategic focus on completing the Streamex Exchange acquisition and positioning for future growth.
Current report
*Income taxes (benefit).*For the three months ended September 30, 2025, the Company recorded an income tax benefit of $765,000, compared to $0 in the prior-year periods. The benefit resulted from the reversal of a deferred tax liability associated with the amortization of identifiable intangible assets acquired in the Company’s Canadian subsidiary. The deferred tax liability was recognized during the measurement period as part of the acquisition accounting and reflects a temporary difference due to the non-deductibility of the intangible amortization under Canadian tax law. The benefit recognized in the current period reflects the impact of this measurement period adjustment and was recorded retrospectively as of the acquisition date. No comparable benefit was recorded in the prior-year periods as the acquisition and related tax effects did not exist at that time.
Current report
Research and Development Expenses. Research and development expenses for the nine months ended September 30, 2025 were $31 a decrease of $705, or 96%, from $736 for the nine months ended September 30, 2024. The decrease primarily reflects lower payroll and reduced spend on research, clinical studies, and design work as resources were temporarily reallocated to support the Streamex Exchange acquisition. Management expects research and development activity to normalize in future periods.
Current report
Nine months ended:
Current report
General and Administrative Expenses. General and administrative expenses for the nine months ended September 30, 2025 were $27,365 an increase of $16,806 or 159%, from $10,559 incurred in the nine months ended September 30, 2024. The increase was primarily driven by higher stock-based compensation and professional fees related to the Streamex Exchange acquisition. Stock-based compensation and common stock issued for services totaled $15,560 in the current period, representing approximately 57% of total general and administrative expenses, compared to $6,804 in the prior period. The increase reflects equity awards issued under the amended executive employment agreement with Mr. Amato and stock grants to third-party consultants in connection with the acquisition. Professional fees and consulting costs increased significantly, with consulting expenses rising to $6,492 from $830, and accounting fees increasing by $311, primarily for transaction support and integration planning. Additional increases were noted in payroll ($1,670 vs $1,248), marketing ($607 vs. $98), shareholder services ($999 vs. $383), legal fees ($975 vs. 556), and D&O insurance premiums ($321 vs. $92), reflecting expanded governance and investor relations activities. These increases were partially offset by lower payroll-related costs compared to the prior-year period. Overall, the increase reflects the Company’s strategic focus on completing the Streamex Exchange acquisition and positioning for future growth.
Current report
*Income taxes (benefit).*For the nine months ended September 30, 2025, the Company recorded an income tax benefit of $765,000, compared to $0 in the prior-year periods. The benefit resulted from the reversal of a deferred tax liability associated with the amortization of identifiable intangible assets acquired in the Company’s Canadian subsidiary. The deferred tax liability was recognized during the measurement period as part of the acquisition accounting and reflects a temporary difference due to the non-deductibility of the intangible amortization under Canadian tax law. The benefit recognized in the current period reflects the impact of this measurement period adjustment and was recorded retrospectively as of the acquisition date. No comparable benefit was recorded in the prior-year periods as the acquisition and related tax effects did not exist at that time.
Current report
Our financial results for the three months ended September 30, 2025 fully reflect the operations of Streamex Corp. and its wholly and majority-owned subsidiaries, including Streamex Exchange, which was acquired on May 28, 2025, which has been fully consolidated since the acquisition date. Accordingly, the consolidated financial statements for the third quarter reflect the complete operations of Streamex Exchange for the entire three-month period. The acquisition marks a strategic expansion of the Company’s platform beyond its medical device technology to a diversified technology platform. While continuing to advance proprietary software algorithms for cardiac signal analysis and pulsed field ablation research, the Company has broadened its scope to include blockchain-based infrastructure for tokenization and exchange of real-world assets. This expansion builds on the Company’s legacy in digital signal processing, including its PURE EP™ Platform, and reflects a multi-sector technology strategy.
Current report
While we previously implemented cost-saving measures to reduce cash burn, we have recently increased spending to accelerate development of the Streamex Exchange platform. These initiatives are expected to support long-term growth but will increase near-term cash requirements. There can be no assurance that we will successfully obtain the additional funding needed to support these activities.
Current report
On October 24, 2025, we entered into Amendment No. 2 to our Secured Convertible Debenture Purchase Agreement with YA II PN, Ltd., which provides for up to $100 million in secured convertible debentures, including two initial tranches of $25 million each. The amendment also requires that $25.1 million of proceeds be allocated to purchase Allocated Vaulted Gold Bullion as collateral ($12.6 million at the first closing; $12.5 million at the second closing). Closings remain subject to Nasdaq approval and other conditions, and there can be no assurance these conditions will be satisfied. The first closing occurred on November 4, 2025, resulting in the issuance of a $25 million Convertible Debenture and the allocation of approximately $12.6 million toward the purchase of Allocated Vaulted Gold Bullion.
Current report
Historical Accuracy and Changes: As of September 30, 2025, the fair value of the derivative liability was $115.7 million resulting in change in derivate liability of $10.2 million recognized in other income (expense) on the statement of operations.
Removed paragraphs (17)
Previous report
On May 28, 2025, BioSig Technologies, Inc. (“BioSig” or the “Company”) completed its acquisition of Streamex Exchange Corporation (“Streamex”). As a result, the financial results for the three months ended June 30, 2025 include the full operations of BioSig and its wholly and majority-owned subsidiaries, as well as approximately five weeks of operations from the acquired Streamex business.
Previous report
General and Administrative Expenses. General and administrative expenses for the three months ended June 30, 2025 were $19,792, an increase of $14,878 or 303%, from $4,914 incurred in the three months ended June 30, 2024. This increase is primarily due to an increase in stock-based compensation and professional fees consisting of legal, accounting and third-party consulting related to the acquisition of Streamex in the current period compared to the prior period. Stock-based compensation was $12.1 million in the current period and made up approximately 61% of the general and administrative expense during the current period as compared to $4.3 million in the prior period. The increase in stock-based compensation is due to the first amendment to the executive employment agreement with Mr. Amato in connection with the Streamex acquisition and paying third party consultants with stock in connection with the Streamex acquisition. Additionally, the Company also recognized $6.0 million related to the finders fee in connection with the Streamex acquisition.
Previous report
Research and Development Expenses. Research and development expenses for the six months ended June 30, 2025 were $25, a decrease of $555, or 96%, from $580 for the six months ended June 30, 2024. The decrease is primarily due to decreases in payroll, Data/AI development and research and clinical studies and design work for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024. These reductions reflect a strategic shift in resource allocation during the quarter, as the Company prioritized efforts toward closing the Streamex acquisition. As a result, certain R&D initiatives were temporarily paused or scaled back to support transaction-related activities, including due diligence, integration planning, and executive bandwidth reallocation.
Previous report
Six months ended:
Previous report
General and Administrative Expenses. General and administrative expenses for the six months ended June 30, 2025 were $22,748 an increase of $14,952 or 192%, from $7,796 incurred in the six months ended June 30, 2024. This increase is primarily due to an increase in stock-based compensation and professional fees consisting of legal, accounting and third-party consulting related to the acquisition of Streamex in the current period compared to the prior period. Stock-based compensation was $14.2 million in the current period and made up approximately 62% of the general and administrative expense during the current period as compared to $5.4 million in the prior period. The increase in stock-based compensation is due to the first amendment to the executive employment agreement contract with Mr. Amato in connection with the Streamex acquisition and paying third party consultants with stock in connection with the Streamex acquisition. Additionally, the Company also recognized $6.0 million related to the finders fee in connection with the Streamex acquisition.
Previous report
Segment Results
Previous report
Operating Operating segments are defined as components of an enterprise for which discrete financial information is available and regularly reviewed by the Company’s Chief Operating Decision Maker (“CODM”) in assessing performance and allocating resources, in accordance with ASC 280, Segment Reporting.
Previous report
On May 28, 2025, the Company appointed Henry McPhie, former CEO of Streamex Exchange Corporation, as its new CEO and Chairman of the Board of Directors, thereby designating him as the Company’s CODM. Following this leadership change and the acquisition of Streamex, the Company re-evaluated its internal reporting structure and the financial information reviewed by the CODM.
Previous report
Based on this assessment, the CODM continues to evaluate the Company’s financial performance and make resource allocation decisions on a consolidated basis. The CODM reviews total revenues, total expenses, and expenses by functional classification across the entire enterprise, rather than by discrete business units. This approach reflects the integrated nature of the Company’s operations and the centralized management of its resources.
Previous report
As a result, the Company has determined that it operates in one reportable and operating segment. This segment includes the Company’s legacy medical device operations, including the PURE EP™ Platform, as well as the development-stage activities related to the Streamex digital asset infrastructure business.
Previous report
The Company will continue to monitor its internal reporting structure and the information reviewed by the CODM and will update its segment disclosures as necessary to reflect any changes in how the business is managed.
Previous report
The Summary Statement of Operations and Comprehensive Loss for the three and six months ended June 30, 2025, as compared to the three and six months ended June 30, 2024, is detailed in Note 15 of the accompanying unaudited condensed consolidated financial statements.
Previous report
For the six months ended June 30, 2025, we used $2.39 million of cash in operating activities and provided $366 of cash in investing activities.
Previous report
For the six months ended June 30, 2025, cash provided by financing activities totaled $4,700, comprised of proceeds from the sale of our common stock and warrants of $818 and proceeds from sale of common stock under the-at-the-marketing offering of $3,882.
Previous report
Additionally, our recently acquired Streamex business is in the development stage and has not yet generated revenue. We expect to incur additional costs related to platform development, regulatory compliance, and strategic partnerships before revenue-generating activities commence.
Previous report
We have implemented cost-saving measures to reduce our operating expenses, including reductions in executive compensation, workforce, and reliance on external consultants. These actions are intended to lower our cash burn rate and extend our operating runway. However, there can be no assurance that these measures will be sufficient or that we will be successful in obtaining the necessary funding.
Previous report
Historical Accuracy and Changes: As of June 30, 2025, the fair value remained unchanged from initial recognition on May 28, 2025. No observable market inputs were available, and no exchanges occurred during the period.
Reworded paragraphs (34)
Previous wording
S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Current wording
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Previous wording
The PURE EP™ Platform enables the acquisition of raw intracardiac signals with minimal noise and interference, supporting improved procedural outcomes and clinical decision-making. By preserving the integrity of complex cardiac signals, PURE EP™ is intended to enhance workflow efficiency and support the treatment of challenging arrhythmias, including ventricular tachycardia (VT) and atrial fibrillation (AF).
Current wording
The Company has expanded from its historical focus as a medical device technology company to a diversified technology platform. Historically, the Company developed and commercialized advanced digital signal processing solutions for electrophysiology, including its flagship PURE EP™ Platform (“PURE EP™”), designed to deliver real-time, high-fidelity cardiac signal data to electrophysiologists during ablation procedures for the treatment of cardiovascular arrhythmias. PURE EP™ enables the acquisition of raw intracardiac signals with minimal noise and interference, supporting improved procedural outcomes and clinical decision-making. By preserving the integrity of complex cardiac signals, PURE EP™ is intended to enhance workflow efficiency and support the treatment of challenging arrhythmias, including ventricular tachycardia (VT) and atrial fibrillation (AF).
Previous wording
In recent quarters, BioSig has shifted its strategic focus from commercial hardware distribution to the research and development of proprietary software algorithms. These algorithms aim to advance the understanding of cardiac tissue characteristics and ablation mechanisms. Data collection efforts began in December 2023 and remain ongoing. A key area of focus is improving the specificity and long-term outcomes of pulsed field ablation (PFA), a rapidly adopted technique in electrophysiology.
Current wording
In recent quarters, the Company has expanded its strategic focus from commercial hardware distribution to the research and development of proprietary software algorithms. These algorithms aim to advance the understanding of cardiac tissue characteristics and ablation mechanisms. Data collection efforts began in December 2023 and remain ongoing. A key area of focus is improving the specificity and long-term outcomes of pulsed field ablation (PFA), a rapidly adopted technique in electrophysiology.
Previous wording
As of June 30, 2025, BioSig’s intellectual property portfolio includes:
Current wording
As of September 30, 2025, the Company’s intellectual property portfolio includes:
Previous wording
Through the acquisition of Streamex, BioSig has expanded its strategic focus to include digital infrastructure for the tokenization and exchange of real-world assets (“RWAs”), with an initial emphasis on gold-backed financial products. Streamex is developing a blockchain-based platform designed to facilitate the compliant issuance, trading, and custody of tokenized commodities and structured digital securities.
Current wording
Through the acquisition of Streamex Exchange, the Company has expanded its strategic focus to include digital infrastructure for the tokenization and exchange of real-world assets (“RWAs”), with an initial emphasis on gold-backed financial products. Streamex Exchange is developing a blockchain-based platform designed to facilitate the compliant issuance, trading, and custody of tokenized commodities and structured digital securities. As of the reporting date, Streamex Exchange remains in the development stage and is pre-revenue. The Company is actively building out the platform’s architecture, regulatory framework, and strategic partnerships. Revenue-generating activities are expected to commence upon the launch of Streamex Exchange’s tokenized gold financing product, which is currently under development.
Previous wording
We anticipate that our results of operations will fluctuate for the foreseeable future due to several factors, such as the progress of our research and development and commercialization efforts, the timing and outcome of future regulatory submissions and uncertainty around the current pandemic. Due to these uncertainties, accurate predictions of future operations are difficult or impossible to make.
Current wording
We anticipate that our results of operations will fluctuate for the foreseeable future due to several factors, such as the progress of our research and development and commercialization efforts, the timing and outcome of future regulatory submissions, and other macroeconomic and operational uncertainties. Due to these uncertainties, accurate predictions of future operations are difficult or impossible to make.
Previous wording
Revenues and Cost of Goods Sold. Revenue for the three months ended June 30, 2025 and 2024 was $0 and $13, respectively, and comprised of recognized service revenue.
Current wording
Revenues and Cost of Goods Sold. Revenue for the three months ended September 30, 2025 and 2024 was $0 and $0, respectively, and comprised of recognized service revenue.
Previous wording
Research and Development Expenses. Research and development expenses for the three months ended June 30, 2025 were $19, a decrease of $323, or 94%, from $342 for the three months ended June 30, 2024. The decrease is primarily due to decreases in payroll, Data/AI development and research and clinical studies and design work for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024. These reductions reflect a strategic shift in resource allocation during the quarter, as the Company prioritized efforts toward closing the Streamex acquisition. As a result, certain R&D initiatives were temporarily paused or scaled back to support transaction-related activities, including due diligence, integration planning, and executive bandwidth reallocation.
Current wording
Research and Development Expenses. Research and development expenses for the three months ended September 30, 2025 were $6, a decrease of $150, or 96%, from $156 for the three months ended September 30, 2024. The decrease is primarily attributable to reductions in payroll, Data/AI development, and clinical research and design activities. These reductions were the result of a temporary reallocation of internal resources during the quarter, as the Company focused on supporting the Streamex Exchange acquisition. Research and development programs remained active but operated at reduced levels while management and technical teams engaged in due diligence, integration planning, and related activities. The Company expects research and development activity to resume at normalized levels in future periods.
Previous wording
Depreciation and Amortization Expense. Depreciation and amortization expense for the six months ended June 30, 2025 totaled $577, an increase of $450, or 354%, over the expense of $127 incurred in the six months ended June 30, 2024, as a direct result of the amortization of the intangible assets recognized from the acquisition of Streamex.
Current wording
Depreciation and Amortization Expense. Depreciation and amortization expense for the three months ended September 30, 2025 totaled $1,488, an increase of $1,457, or 4700%, over the expense of $31 incurred in the three months ended September 30, 2024, as a direct result of the amortization of the intangible assets recognized from the acquisition of Streamex Exchange. The Company’s intangible assets primarily consist of trade name, developed technology, legal and compliance framework, and patents.
Previous wording
Other Income (Expense). Other income (expense) for the three months ended June 30, 2025 totaled $3, a decrease in other income of $1,384, over the income of $1,381 incurred in the three months ended June 30, 2024, as a direct result of our gain on settlement and extinguishment of accounts payable negotiated by management during the prior period.
Current wording
Other Income (Expense), net. Other income (expense), net for the three months ended September 30, 2025 totaled $10,236, a decrease in other income of $11,272, over the income of $1,036 incurred in the three months ended September 30, 2024. The decrease was mainly due to the change in fair value related to the derivative liability offset by the gain on settlement and extinguishment of accounts payable negotiated by management during the prior period.
Previous wording
Preferred Stock Dividend. Preferred stock dividend for the three months ended June 30, 2025 and 2024 totaled $2 and $3, respectively. Preferred stock dividends are related to the dividends accrued on our Series C Preferred Stock issued during the period from 2013 through 2015.
Current wording
Preferred Stock Dividend. Preferred stock dividend for the three months ended September 30, 2025 and 2024 totaled $2 and $2, respectively. Preferred stock dividends are related to the dividends accrued on our Series C Preferred Stock issued during the period from 2013 through 2015.
Previous wording
Net Loss Attributable to BioSig Technologies, Inc. Common Shareholders. As a result of the foregoing, net loss attributable to common shareholders for the three months ended June 30, 2025 was $20,374 compared to a net loss of $3,918 for the three months ended June 30, 2024.
Current wording
Net Loss Attributable to Streamex Corp. Common Stockholders. As a result of the foregoing, net loss attributable to common shareholders for the three months ended September 30, 2025 was $15,586 compared to a net loss of $1,940 for the three months ended September 30, 2024.
Previous wording
Six Months Ended June 30, 2025 Compared to Six Months June 30, 2024 (000’s)
Current wording
Nine Months Ended September 30, 2025 Compared to Nine Months September 30, 2024 (000’s)
Previous wording
Revenues and Cost of Goods Sold. Revenue for the six months ended June 30, 2025 and 2024 was $0 and $27, respectively, and comprised of recognized service revenue.
Current wording
Revenues and Cost of Goods Sold. Revenue for the nine months ended September 30, 2025 and 2024 was $0 and $27, respectively, and comprised of recognized service revenue.
Previous wording
Impairment of Long Term Assets. For the six months ended June 30, 2025, the Company determined that no events or changes in circumstances existed that would indicate any impairment of its long-lived assets. During the six months ended June 30, 2024, the Company re-assessed it’s carrying amounts of certain property and equipment due to reduced manufacturing of its commercial products and determined that these carrying amounts exceeded the estimated undiscounted future cash flows. Accordingly, the Company recorded a $253 impairment charge to current operations.
Current wording
Impairment of Long Term Assets. For the nine months ended September 30, 2025, the Company determined that no events or changes in circumstances existed that would indicate any impairment of its long-lived assets. During the nine months ended September 30, 2024, the Company re-assessed it’s carrying amounts of certain property and equipment due to reduced manufacturing of its commercial products and determined that these carrying amounts exceeded the estimated undiscounted future cash flows. Accordingly, the Company recorded a $253 impairment charge to current operations.
Previous wording
Depreciation and Amortization Expense. Depreciation and amortization expense for the three months ended June 30, 2025 totaled $554, an increase of $505, or 1031%, over the expense of $49 incurred in the three months ended June 30, 2024, as a direct result of the amortization of the intangible assets recognized from the acquisition of Streamex.
Current wording
Depreciation and Amortization Expense. Depreciation and amortization expense for the nine months ended September 30, 2025 totaled $2,065, an increase of $1,907, or 1207%, over the expense of $158 incurred in the nine months ended September 30, 2024, as a direct result of the amortization of the intangible assets recognized from the acquisition of Streamex Exchange.
Previous wording
Other Income (Expense). Other income (expense) for the six months ended June 30, 2025 totaled $181, a decrease in other income of $1,222, over the income of $1,403 incurred in the six months ended June 30, 2024, as a direct result of our gain on settlement and extinguishment of accounts payable negotiated by management during the prior period.
Current wording
Other Income (Expense), Net. Other income (expense), net for the nine months ended September 30, 2025 totaled $10,055, a decrease in other income of $12,494, over the income of $2,439 incurred in the nine months ended September 30, 2024. The decrease was mainly due to the change in fair value related to the derivative liability offset by the gain on settlement and extinguishment of accounts payable negotiated by management during the prior period.
Previous wording
Preferred Stock Dividend. Preferred stock dividend for the six months ended June 30, 2025 and 2024 totaled $(5) and $(5), respectively. Preferred stock dividends are related to the dividends accrued on our Series C Preferred Stock issued during the period from 2013 through 2015. In addition, the Series C Preferred stock conversion rate reset from $2.50 to $0.5302 in during the six months ended June 30, 2024, therefore we recorded a noncash deemed preferred stock dividend of $133 in the prior period.
Current wording
Preferred Stock Dividend. Preferred stock dividend for the nine months ended September 30, 2025 and 2024 totaled $(7) for both periods. Preferred stock dividends are related to the dividends accrued on our Series C Preferred Stock issued during the period from 2013 through 2015. In addition, the Series C Preferred stock conversion rate reset from $2.50 to $0.5302 in during the nine months ended September 30, 2024, therefore we recorded a noncash deemed preferred stock dividend of $157 in the prior period.
Previous wording
Net Loss Attributable to BioSig Technologies, Inc. Common Shareholders. As a result of the foregoing, net loss attributable to common shareholders for the six months ended June 30, 2025 was $23,190 compared to a net loss of $7,455 for the six months ended June 30, 2024.
Current wording
Net Loss Attributable to Streamex Corp. Common Stockholders. As a result of the foregoing, net loss attributable to common shareholders for the nine months ended September 30, 2025 was $38,774 compared to a net loss of $9,395 for the nine months ended September 30, 2024.
Previous wording
As of June 30, 2025, we had a working capital deficit of $110 million.
Current wording
As of September 30, 2025, we had a working capital deficit of approximately $111 million and cash of $11.0 million. For the nine months ended September 30, 2025, we used $7.4 million in operating activities, provided $0.2 million from investing activities, and generated $18.1 million from financing activities, primarily from equity offerings including $14.4 million from common stock and warrants and $3.9 million from at-the-market sales.
Previous wording
As of June 30, 2025, we had an accumulated deficit of $278,529, a net loss attributable to BioSig Technologies, Inc. Common Shareholders of $23,190 and continued negative cash flows from operations. In addition, the Company does not currently have sufficient cash or committed financing to fund its operations for the twelve months following the issuance of this Form 10-Q. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.
Current wording
We have an accumulated deficit of $294.1 million, a net loss attributable to common shareholders of $39.0 million for the nine months ended September 30, 2025, and continued negative cash flows from operations. We do not currently have sufficient cash or committed financing to fund operations for the twelve months following issuance of this Form 10-Q. These conditions raise substantial doubt about our ability to continue as a going concern.
Previous wording
We expect to continue incurring operating losses and negative cash flows until our products, primarily the PURE EP™ Platform, achieve sustained commercial success. While we have commercial products available for sale, we have not yet generated significant revenue, and there is no assurance that future revenues will be sufficient to fund operations.
Current wording
We expect to continue incurring operating losses and negative cash flows until our products—including the PURE EP™ Platform and Streamex Exchange’s blockchain solutions—achieve sustained commercial success. While commercial products are available for sale, revenues have not been significant, and there is no assurance future revenues will be sufficient to fund operations. Streamex Exchange remains in the development stage and is pre-revenue; we expect additional costs for platform development, regulatory compliance, and strategic partnerships before revenue generation begins. Initial revenue is expected upon launch of Streamex Exchange’s tokenized gold financing product, which is currently under development.
Previous wording
On July 7, 2025, the Company entered into two financing agreements to support its long-term capital needs: (i) a Senior Secured Convertible Debenture Purchase Agreement with YA II PN, Ltd. (“Yorkville”), pursuant to which the Company may issue up to $100 million in convertible debentures, and (ii) a Standby Equity Purchase Agreement (“SEPA”) with an institutional investor, allowing the Company to sell up to $1 billion of common stock over a 36-month period.
Current wording
On July 7, 2025, the Company entered into two financing agreements to support its long-term capital needs: (i) a Senior Secured Convertible Debenture Purchase Agreement with YA II PN, Ltd. (“Yorkville”), pursuant to which the Company may issue up to $100 million in convertible debentures, and (ii) a Standby Equity Purchase Agreement (“SEPA”) with Yorkville, allowing the Company to sell up to $1 billion of common stock over a 36-month period.
Previous wording
Both agreements are subject to customary closing conditions, including stockholder approval and, in the case of the SEPA, the effectiveness of a registration statement. The Company may not access proceeds under the SEPA until any issued debentures have been repaid or converted, unless waived by the investor.
Current wording
Both agreements are subject to customary closing conditions, including stockholder approval and, in the case of the SEPA, the effectiveness of a registration statement. The Company may not access proceeds under the SEPA until any issued debentures have been repaid or converted, unless waived by Yorkville.
Previous wording
The Company’s liquidity forecast includes assumptions regarding the timing of Streamex’s product launch, expected capital inflows, and cost containment measures. A sensitivity analysis indicates that delays in product commercialization or capital raising could materially impact the Company’s ability to continue as a going concern.
Current wording
The Company’s liquidity forecast includes assumptions regarding the timing of Streamex Exchange’s product launch, expected capital inflows, and cost containment measures. A sensitivity analysis indicates that delays in product commercialization or capital raising could materially impact the Company’s ability to continue as a going concern.
Previous wording
For the six months ended June 30, 2025, the Company has sold 4,403,166 At The Market Offering Shares at an average offering price of $0.91 per share for aggregate gross proceeds of $4,019,063 or $3,882,420 net of fees of $136,643.
Current wording
For the nine months ended September 30, 2025, the Company has sold 4,403,166 At The Market Offering Shares at an average offering price of $0.91 per share for aggregate gross proceeds of $4,019,063 or $3,882,420 net of fees of $136,643.
Previous wording
*Nature of Estimate:*The Exchangeable Shares issued in connection with the Streamex acquisition are classified as a derivative liability under ASC 815 due to contingent conversion rights.
Current wording
Nature of Estimate:Exchangeable Shares issued in connection with the Streamex Exchange acquisition are classified as a derivative liability underASC 815 due to contingent conversion rights.
Previous wording
Methodology: Fair value is estimated using a discounted cash flow (DCF) model, incorporating projected Streamex cash flows, a 40.0% discount rate, and a 3.0% terminal growth rate. The valuation reflects Level 3 inputs due to the absence of observable market data.
Current wording
Methodology: Fair value is estimated using a discounted cash flow model incorporating projected cash flows, a 40% discount rate, and a 3% terminal growth rate. The valuation uses Level 3 inputs due to the absence of observable market data.
Previous wording
Estimation Uncertainty: The valuation is highly sensitive to assumptions regarding Streamex’s future performance, regulatory milestones, and the timing and outcome of shareholder approval. These factors are inherently uncertain and subject to change.
Current wording
Estimation Uncertainty: The valuation is highly sensitive to assumptions regarding future performance, regulatory milestones, and shareholder approval timing.
Previous wording
Drivers of Variability: Key drivers include Streamex’s commercialization timeline, macroeconomic conditions, and investor sentiment.
Current wording
Drivers of Variability: Key drivers include commercialization timelines, macroeconomic conditions, and investor sentiment.
Previous wording
Future Sensitivity: If shareholder approval is not obtained by November 28, 2025, the exchange ratio will adjust from 1.0 to 1.25, increasing the number of shares issuable and potentially requiring a material upward revision to the liability.
Current wording
Future Sensitivity: If shareholder approval is not obtained by November 28, 2025, the exchange ratio will adjust from 1.0 to 1.25, which could require a material upward revision to the liability. However, on November 4, 2025, the Company received shareholder approval of the Parent Stockholder Matters. As a result, the conversion cap was removed, and Streamex Exchange shareholders may now convert their Exchangeable Shares into the Company’s common stock. Concurrently, the derivative liability associated with the Exchangeable Shares was reclassified to permanent equity. The final valuation will reflect this reclassification as of November 4, 2025.
Previous wording
Purchase Price Allocation (PPA) for Streamex Acquisition
Current wording
Purchase Price Allocation (PPA) for Streamex Exchange Acquisition
Previous wording
Methodology: We applied Level 3 valuation techniques under ASC 805, including the relief-from-royalty method for trade name, multi-period excess earnings method (MPEEM) for developed technology, and cost approach for legal and compliance framework.
Current wording
Methodology: We applied Level 3 valuation techniques under ASC 805, including the relief-from-royalty method for trade name, multi-period excess earnings method for developed technology, and cost approach for legal and compliance framework.
Previous wording
Drivers of Variability: Finalization of Streamex’s financial forecasts, market comparables, and tax amortization benefits may materially affect the allocation.
Current wording
Drivers of Variability: Finalization of financial forecasts, market comparables, and tax amortization benefits may materially affect the allocation.
Rearranged previous paragraphs (2)
Previous report — wording carried elsewhere
BioSig is a medical device technology company focused on developing and commercializing advanced digital signal processing solutions for electrophysiology. The Company’s flagship product, the PURE EP™ Platform (“PURE EP™”), is designed to deliver real-time, high-fidelity cardiac signal data to electrophysiologists during ablation procedures for the treatment of cardiovascular arrhythmias.
Previous report — wording carried elsewhere
As of the reporting date, Streamex remains in the development stage and is pre-revenue. The Company is actively building out the platform’s architecture, regulatory framework, and strategic partnerships. Revenue-generating activities are expected to commence upon the launch of Streamex’s tokenized gold financing product, which is currently under development.