FG Nexus Inc.
For the period ended Dec 31, 2025. Filed Mar 27, 2026.
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FY2025 · Filed Mar 27, 2026
FGNXP$25.99+4.4%Stored close · as of Sep 25, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
($ in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 · 2024 | |||
| Cash flows from operating activities: | |||
| Net loss from continuing operations | $(67,634) | $(24,277) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Net unrealized holding loss on equity holdings | 2,538 | 5,039 | |
| Loss from equity method holdings | 4,938 | 10,713 | |
| Loss on disposal of fixed assets | 5 | - | |
| Net realized gain on sale of equity holdings | (1,056) | (306) | |
| Realized loss on digital assets | 5,815 | - | |
| Unrealized measurement of fair value of ETH digital assets | 38,327 | - | |
| ETH rewards for staking | (1,543) | - | |
| Depreciation and amortization | 304 | 408 | |
| Amortization and accretion of operating leases | - | 75 | |
| Impairment of property and equipment | - | 1,422 | |
| Gain on merger of FGF and FGH (Note 5) | - | (2,321) | |
| Deferred income taxes | (2,059) | (639) | |
| Stock compensation expense | 7,762 | 1,619 | |
| Changes in operating assets and liabilities: | |||
| Other assets | 316 | 1,080 | |
| Current income taxes | (148) | 58 | |
| Accounts payable and accrued expenses | 5,772 | 3,212 | |
| Operating lease obligations | - | (23) | |
| Net cash used in operating activities from continuing operations | (6,663) | (3,940) | |
| Net cash (used in) provided by operating activities from discontinued operations | 413 | (299) | |
| Net cash used in operating activities | (6,250) | (4,239) | |
| Cash flows from investing activities: | |||
| Proceeds from sales of equity securities | 3,214 | 5,021 | |
| Proceeds from redemption of Saltire preferred shares | 7,500 | - | |
| Purchases of ETH, net of sales | (137,977) | - | |
| Purchases of equity securities | (887) | - | |
| Proceeds from sales of property and equipment | - | 6,161 | |
| Collection of note receivable, net | 3 | 203 | |
| Cash acquired in Merger of FGF and FGH | - | 1,903 | |
| Net cash (used in) provided by investing activities from continuing operations | (128,147) | 13,288 | |
| Net cash provided by (used in) investing activities from discontinued operations | 5,592 | (140) | |
| Net cash (used in) provided by investing activities | (122,555) | 13,148 | |
| Cash flows from financing activities: | |||
| Payment of withholding taxes in connection with vesting of RSUs | (397) | (21) | |
| Proceeds from Private Placement Offering, net of costs | 168,621 | - | |
| Proceeds from sales under ATM Offering, net of costs | 14,050 | - | |
| Payment of dividends on preferred shares | (1,788) | (1,410) | |
| Distribution of cash to CVR Trust | (17,957) | - | |
| Net borrowings on credit facility | - | 97 | |
| Purchases of common shares | (26,133) | - | |
| Purchases of Series A preferred shares | (127) | - | |
| Principal payments on long-term debt | - | (4,919) | |
| Principal payments on short-term debt | (247) | (603) | |
| Net cash provided by (used in) financing activities from continuing operations | 136,022 | (6,856) | |
| Net cash (used in) provided by financing activities from discontinued operations | (408) | (2) | |
| Net cash provided by (used in) financing activities | 135,614 | (6,858) | |
| Effect of exchange rate changes on cash and cash equivalents from continuing operations | 24 | (11) | |
| Effect of exchange rate changes on cash and cash equivalents from discontinued operations | - | (36) | |
| Net decrease in cash and cash equivalents from continuing operations | 1,236 | 2,481 | |
| Net increase in cash and cash equivalents from discontinued operations | 5,597 | (477) | |
| Net increase in cash and cash equivalents | 6,833 | 2,004 | |
| Cash and cash equivalents at beginning of year | 6,562 | 4,558 | |
| Cash and cash equivalents at end of year | $13,395 | $6,562 | |
| Supplemental disclosure of non-cash financing activities: | |||
| Digital assets received as part of Private Placement Offering (Note 1) | $24,006 | $ | - |
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