Greenpro Capital Corp.

Previous wording

During the three months ended March 31, 2026, and 2025, we operated in three regions: Hong Kong, China and Malaysia. We derived revenues from the provision of business services, digital platform services and trading of digital assets, and leasing or trading of our commercial properties, respectively.

Current wording

During the three and six months ended June 30, 2026, and 2025, we operated in three regions: Hong Kong, China and Malaysia. We derived revenues from the provision of business services, digital platform services and trading of digital assets, and leasing or trading of our commercial properties, respectively.

Previous wording

Revenue from the provision of business services was $310,746 and $310,853 for the three months ended March 31, 2026, and 2025, respectively. It was derived principally from the provision of business consulting and advisory services, as well as company secretarial, accounting, and financial analysis services. Service business revenue maintained stable as compared to the same period in 2025.

Current wording

Revenue from the provision of business services was $248,609 and $395,257 for the three months ended June 30, 2026, and 2025, respectively. It was derived principally from the provision of business consulting and advisory services, as well as company secretarial, accounting, and financial analysis services. We experienced a decrease in service business revenue as fewer listing and non-listing corporate advisory services were rendered during the three months ended June 30, 2026.

Previous wording

Revenue from the digital platform and trading was $78,459 and $26,256 for the three months ended March 31, 2026, and 2025, respectively. It was derived from trading of other digital assets of $78,459 and $26,256 for the three months ended March 31, 2026, and 2025, respectively. We experienced an increase in digital revenue as an increase in the trading volume during 2026.

Current wording

Revenue from the digital platform and trading was $37,464 and $17,921 for the three months ended June 30, 2026, and 2025, respectively. It was derived from trading of other digital assets of $37,464 for the three months ended June 30, 2026. For the same period in 2025, it was derived from trading of other digital assets of $17,169 and the sale of our digital assets, GX Token, of $752. We experienced an increase in digital revenue as an increase in the trading volume during 2026.

Previous wording

Revenue from rentals was $16,181 and $15,646 for the three months ended March 31, 2026, and 2025, respectively. It was derived from the leasing properties in Malaysia and Hong Kong. We expect our rental income to be stable.

Current wording

Revenue from rentals was $16,094 and $13,914 for the three months ended June 30, 2026, and 2025, respectively. It was derived from the leasing properties in Malaysia and Hong Kong. We expect our rental income will decline upon the sale of its owned properties by our wholly owned subsidiary, Forward Win International Limited which is principally engaged in the trading and leasing its owned properties in Hong Kong in the early of July 2026.

Previous wording

Total operating costs and expenses were $1,330,269 and $1,041,688 for the three months ended March 31, 2026, and 2025, respectively. They consist of cost-of-service revenue, cost of digital revenue, cost of rental revenue and general and administrative (“G&A”) expenses. The Company incurred $1,217,520 and $948,046 of G&A expenses for the three months ended March 31, 2026, and 2025, respectively.

Current wording

Total operating costs and expenses were $1,036,590 and $1,028,753 for the three months ended June 30, 2026, and 2025, respectively. They consist of cost-of-service revenue, cost of digital revenue, cost of rental revenue and general and administrative (“G&A”) expenses. The Company incurred $922,420 and $944,949 of G&A expenses for the three months ended June 30, 2026, and 2025, respectively.

Previous wording

Cost of revenue from the provision of services was $108,775 and $89,853 for the three months ended March 31, 2026, and 2025, respectively. It primarily consists of employee compensation and related payroll benefits, company formation costs, and other professional fees, directly attributable to costs related to the services rendered.

Current wording

Cost of revenue from the provision of services was $110,875 and $80,423 for the three months ended June 30, 2026, and 2025, respectively. It primarily consists of employee compensation and related payroll benefits, company formation costs, and other professional fees, directly attributable to costs related to the services rendered.

Previous wording

There was no cost incurred for the provision of digital platform services and trading of digital assets for the three months ended March 31, 2026, and 2025, respectively. It primarily consists of the cost of technical advisory and IT support to blockchain-based services directly attributable to the cost of a digital platform and digital assets.

Current wording

Cost of revenue for the provision of digital platform services and trading of digital assets was $0 and $1 for the three months ended June 30, 2026, and 2025, respectively. It primarily consists of the minting cost for the sale of our digital assets, GX Token.

Previous wording

The cost of rental revenue was $3,974 and $3,789 for the three months ended March 31, 2026, and 2025, respectively. It includes the costs associated with governmental charges, repairs and maintenance, property management fees and insurance, depreciation, and other related administrative costs. Utility expenses are borne and paid directly by individual tenants.

Current wording

The cost of rental revenue was $3,295 and $3,380 for the three months ended June 30, 2026, and 2025, respectively. It includes the costs associated with governmental charges, repairs and maintenance, property management fees and insurance, depreciation, and other related administrative costs. Utility expenses are borne and paid directly by individual tenants.

Previous wording

G&A expenses were $1,217,520 and $948,046 for the three months ended March 31, 2026, and 2025, respectively. For the three months ended March 31, 2026, our G&A expenses primarily consisted of staff costs of $328,583, directors’ salaries and compensation of $166,416, customer compensation of $444,453 due to dissatisfaction with our regional support in PRC, advertising and marketing expenses of $26,317, consulting fees of $25,996, depreciation and amortization of $49,461, IT and computer expenses of $5,882, legal service fees of $54,201, other professional fees of $40,537, and operating lease costs of $27,496. For the three months ended March 31, 2025, our G&A expenses primarily consisted of staff costs of $396,158, directors’ salaries and compensation of $167,220, advertising and marketing expenses of $35,345, consulting fees of $17,214, depreciation and amortization of $60,018, IT and computer expenses of $52,248, legal service fees of $44,397, other professional fees of $51,113, and operating lease costs of $28,654. The increased G&A expense of $269,474 was mainly derived from the customer compensation of $444,453, offset by the decrease of staff costs of $67,575, depreciation and amortization of $10,557, IT and computer expenses of $46,366 and other professional fees of $10,576 during the same period in 2026. We expect our G&A expenses will slightly increase as we are developing our digital platform business through our Labuan subsidiary, Green-X Corp., and the digital banking businesses through another Labuan subsidiary, Global Business Hub Limited.

Current wording

G&A expenses were $922,420 and $944,949 for the three months ended June 30, 2026, and 2025, respectively. For the three months ended June 30, 2026, our G&A expenses primarily consisted of staff costs of $316,347, directors’ salaries and compensation of $164,177, settlement of $100,000 to MFAI Inc., compensation of $89,613 to client’s investors as a result of the court’s final ruling in PRC, advertising and marketing expenses of $15,867, consulting fees of $17,938 , depreciation and amortization of $44,066 , IT and computer expenses of $8,557, legal service fees of $58,767, other professional fees of $35,185, and operating lease costs of $22,828. For the three months ended June 30, 2025, our G&A expenses primarily consisted of staff costs of $368,290, directors’ salaries and compensation of $166,595, advertising and marketing expenses of $31,239, consulting fees of $83,851, depreciation and amortization of $59,420, IT and computer expenses of $55,779, legal service fees of $49,121, other professional fees of $47,457 and operating lease costs of $27,866. The decreased G&A expense of $22,529 was mainly derived from the decrease in staff costs of $51,943, advertising and marketing expenses of $15,372, consulting fees of $65,913, depreciation and amortization of $15,354, IT and computer expenses of $47,222, and other professional fees of $12,272, offset by MFAI settlement of $100,000 and damage compensation of $89,613 during the same period in 2026. We expect our G&A expenses will slightly increase as we are developing our digital platform business through our Labuan subsidiary, Green-X Corp., and the digital banking businesses through another Labuan subsidiary, Global Business Hub Limited.

Previous wording

Total revenue was $405,386 and $352,755 for the three months ended March 31, 2026, and 2025, respectively. The increase of $52,631 was primarily due to an increase in digital revenue. We expect revenue from our digital business to steadily grow as we are developing our digital platform and trading businesses.

Current wording

Total revenue was $707,553 and $779,847 for the six months ended June 30, 2026, and 2025, respectively. A decrease of $72,294 was primarily due to a decrease in service business revenue. We expect revenue from our service business to recover slightly as we are exploring new markets.

Previous wording

Loss from operations for the three months ended March 31, 2026, and 2025 was $924,883 and $688,933, respectively. An increase in loss from operations was mainly due to an increase in G&A expenses of $269,474 for the three months ended March 31, 2026.

Current wording

Loss from operations for the six months ended June 30, 2026, and 2025 was $1,659,306 and $1,290,594, respectively. An increase in loss from operations was mainly due to a decrease in service business revenue of $146,755 and an increase of G&A of $246,945 for the six months ended June 30, 2026.

Previous wording

Net other income was $13,307 and $53,867 for the three months ended March 31, 2026, and 2025, respectively. For the three months ended March 31, 2026, the other net income mainly consisted of other gains of $13,248 and interest income of $1,541, offset by fair value loss on digital assets of $1,290. For the three months ended March 31, 2025, the other net income mainly consisted of gain on disposal of investment of $39,800, other gains of $18,034 and interest income of $2,884, offset by fair value loss on digital assets of $6,765.

Current wording

Net other income was $38,347 and $81,400 for the six months ended June 30, 2026, and 2025, respectively. For the six months ended June 30, 2026, net other income mainly consisted of related party other income of $20,687 and interest income of $3,086. For the six months ended June 30, 2025, net other income mainly consisted of related party other income of $29,023, interest income of $4,677 and gain on disposal of investment of $39,800.

Previous wording

Net loss was $911,576 and $635,576 for the three months ended March 31, 2026, and 2025, respectively. The increase in net loss was mainly due to an increase in G&A expenses in 2026.

Current wording

Net loss was $1,620,959 and $1,209,704 for the six months ended June 30, 2026, and 2025, respectively. The increase in net loss was mainly due to a decrease in service business revenue and an increase in G&A expenses during the same period in 2026.

Previous wording

Other than as disclosed elsewhere in this Quarterly Report, we are not aware of any trends, uncertainties, demands, commitments or events for the three months ended March 31, 2026 that are reasonably likely to have a material adverse effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources, or that would cause the disclosed financial information to be not necessarily indicative of future operating results or financial conditions.

Current wording

Other than as disclosed elsewhere in this Quarterly Report, we are not aware of any trends, uncertainties, demands, commitments or events for the six months ended June 30, 2026 that are reasonably likely to have a material adverse effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources, or that would cause the disclosed financial information to be not necessarily indicative of future operating results or financial conditions.

Previous wording

On March 31, 2026, the future minimum rental payments under this lease in the aggregate are approximately $73,761 and are due as follows: 2026: $57,970 and 2027: $15,791, respectively.

Current wording

On June 30, 2026, the future minimum rental payments under this lease in the aggregate are approximately $54,421 and are due as follows: 2026: $38,635 and 2027: $15,786, respectively.

Previous wording

In June 2023, one of our subsidiaries in Malaysia purchased a motor vehicle, and the majority of the purchase of $18,957 was funded by Maybank Islamic under a finance lease agreement with a term of five years commencing from June 3, 2023, to June 2, 2028. As of March 31, 2026, the future minimum lease payments under this lease in the aggregate are approximately $11,023 and are due as follows: 2026: $3,817; 2027: $5,089, and 2028: $2,117.

Current wording

In June 2023, one of our subsidiaries in Malaysia purchased a motor vehicle, and the majority of the purchase of $18,957 was funded by Maybank Islamic under a finance lease agreement with a term of five years commencing from June 3, 2023, to June 2, 2028. As of June 30, 2026, the future minimum lease payments under this lease in the aggregate are approximately $9,667 and are due as follows: 2026: $2,523; 2027: $5,045, and 2028: $2,099.

Previous wording

For the three months ended March 31, 2026, related party service revenue principally included service revenue generated from Greenpro Trust Limited (“GTL”) of $5,751 and Forekast Limited (“Forekast”) of $6,635, in aggregate representing approximately 82% of the related party service revenue and 4% of the service revenue for the three months ended March 31, 2026.

Current wording

For the six months ended June 30, 2026, related party service revenue principally included service revenue generated from HongKong Blossom International Limited (“HK Blossom”) of $25,751 and Greenpro Trust Limited (“GTL”) of $11,544, in aggregate representing approximately 70% of the related party service revenue and 7% of the service revenue for the six months ended June 30, 2026. Our Chief Financial Officer, Loke, Che Chan Gilbert (“Mr. Loke”) is the sole director and shareholder of HK Blossom. Our wholly owned subsidiary, Greenpro Resources Limited (“GRL”) holds approximately 11% interest in GTL and Mr. Loke and our Chief Executive Officer, Lee, Chong Kuang (“Mr. Lee”) is a director and shareholder of GTL.

Previous wording

For the three months ended March 31, 2025, related party service revenue principally included service revenue generated from SEATech Ventures Corp. (“SEATech”) of $13,158, representing approximately 60% of the related party service revenue and 4% of the service revenue for the three months ended March 31, 2025.

Current wording

For the six months ended June 30, 2025, related party service revenue principally included service revenue generated from SEATech Ventures Corp. (“SEATech”) of $13,130, representing approximately 39% of the related party service revenue and 2% of the service revenue for the six months ended June 30, 2025.

Previous wording

For the three months ended March 31, 2026, and 2025, cost of service revenue to related parties was $1,983 and $8,396, respectively.

Current wording

For the six months ended June 30, 2026, and 2025, cost of service revenue to related parties was $2,103 and $8,520, respectively.

Previous wording

For the three months ended March 31, 2026, related party cost of service revenue represented cost of services paid to Falcon Consulting Limited (“FCL”) of $1,983. FCL is wholly owned by the spouse of our Chief Financial Officer, Loke, Che Chan Gilbert (“Mr. Loke”).

Current wording

For the six months ended June 30, 2026, related party cost of service revenue represented cost of services paid to Falcon Consulting Limited (“FCL”) of $2,103. FCL is wholly owned by the spouse of our Chief Financial Officer, Mr. Loke.

Previous wording

For the three months ended March 31, 2025, related party cost of service revenue included cost of services paid to Falcon Management Limited (“FML”) of $2,500, FCL of $2,146, and Loke Yu (“Jimmy”) of $3,750, respectively. FML is wholly owned by Mr. Loke and Jimmy is Mr. Loke’s brother.

Current wording

For the six months ended June 30, 2025, related party cost of service revenue represented cost of services paid to Falcon Management Limited (“FML”) of $2,500, FCL of $2,270, and Loke Yu (“Jimmy”) of $3,750, respectively. FML is wholly owned by Mr. Loke and Jimmy is Mr. Loke’s brother.

Previous wording

For the three months ended March 31, 2026, related party G&A expenses included consulting fees paid to Ms. Yap Pei Ling (“Ms. Yap”), the spouse of our Chief Executive Officer, Mr. Lee, Chong Kuang, of $3,451 and Ms. Yap’s wholly owned company, Bright Interlink Sdn. Bhd. (“BISB”) of $3,787, and FML of $1,917, and management fees paid to Greenpro Global Capital Village Sdn. Bhd. (“GGCVSB”) of $23,250, a Malaysian company jointly owned by Mr. Lee and Mr. Loke.

Current wording

For the six months ended June 30, 2026, related party G&A expenses included consulting fees paid to Ms. Yap, Pei Ling (“Ms. Yap”), the spouse of our Chief Executive Officer, Mr. Lee, of $6,896 and Ms. Yap’s wholly owned company, Bright Interlink Sdn. Bhd. (“BISB”) of $7,530, and FML of $1,915, and management fees paid to Greenpro Global Capital Village Sdn. Bhd. (“GGCVSB”) of $46,246, a Malaysian company jointly owned by Mr. Lee and Mr. Loke.

Previous wording

For the three months ended March 31, 2025, related party G&A expenses included consulting fees paid to Ms. Yap of $3,469 and BISB of $3,371, and management fees paid to GGCVSB of $16,312, respectively.

Current wording

For the six months ended June 30, 2025, related party G&A expenses included consulting fees paid to Ms. Yap of $6,924, BISB of $6,887 and FML of $4,488, and management fees paid to GGCVSB of $42,200.

Previous wording

For the three months ended March 31, 2025, related party other income included other income generated from Acorn of $2,698 and Greenpro Trust Limited (“GTL”) of $13,860, respectively.

Current wording

For the six months ended June 30, 2026, related party other income represented other income generated from Acorn Finance Limited (“Acorn”) of $5,363 and Greenpro Trust Limited (“GTL”) of $15,324.

Previous wording

For the three months ended March 31, 2026, related party other income represents other income generated from Acorn Finance Limited (“Acorn”) of $2,684.

Current wording

For the six months ended June 30, 2025, related party other income represented other income generated from Acorn of $5,385 and GTL of $23,638.

Previous wording

For the three months ended March 31, 2026, related party interest income included interest income generated from GTL of $403 and GTL’s subsidiary, Greenpro Custodian Service Limited (“GCSL”), of $1,118, respectively.

Current wording

For the six months ended June 30, 2026, related party interest income included interest income generated from GTL of $805 and GTL’s subsidiary, Greenpro Custodian Service Limited (“GCSL”), of $2,234.

Previous wording

For the three months ended March 31, 2025, related party interest income included interest income generated from GTL of $273 and GCSL of $1,124, respectively.

Current wording

For the six months ended June 30, 2025, related party interest income included interest income generated from GTL of $561 and GCSL of $2,243.

Previous wording

For the three months ended March 31, 2025, gain on disposal of related party investment of $39,800 was generated from the sale of common stock of Jocom Holdings Corp. (“Jocom”).

Current wording

For the six months ended June 30, 2025, gain on disposal of related party investment generated from the sale of common stock of Jocom Holdings Corp. (“Jocom”) of $39,800.

Previous wording

For the three months ended March 31, 2025, a reversal of impairment of related party investment of $150 was related to the reversal of impairment of Jocom.

Current wording

For the six months ended June 30, 2025, a reversal of impairment of related party investment of $150 was related to the reversal of impairment of Jocom.

Previous wording

Amounts due from related parties were $883,795 and $995,640 as of March 31, 2026, and December 31, 2025, respectively. Amounts due to related parties were $821,517 and $101,922 as of March 31, 2026, and December 31, 2025, respectively.

Current wording

Amounts due from related parties were $880,502 and $995,640 as of June 30, 2026, and December 31, 2025, respectively. Amounts due to related parties were $856,945 and $101,922 as of June 30, 2026, and December 31, 2025, respectively.

Previous wording

As of March 31, 2026, amounts due from related parties mainly included amounts due from Greenpro Global Capital Village Sdn. Bhd. (“GGCVSB”) of $704,224, First Bullion Holdings Inc. (“FBHI”) of $90,000 and Greenpro Trust Limited (“GTL”) of $87,875, while the amounts due to related parties mainly included Ms. Chen Yanhong, a director of our PRC subsidiaries of $493,194, Mr. Lee of $159,364, and Mr. Loke’s majority owned company, Falcon Certified Public Accountants Limited (“FCPA”) of $137,651, respectively.

Current wording

As of June 30, 2026, amounts due from related parties mainly included amounts due from Greenpro Global Capital Village Sdn. Bhd. (“GGCVSB”) of $704,667, First Bullion Holdings Inc. (“FBHI”) of $90,000 and Greenpro Trust Limited (“GTL”) of $84,142, while the amounts due to related parties mainly included amounts due to Ms. Chen, Yanhong, a director of our PRC subsidiaries of $571,715, Mr. Lee of $98,157 and FCPA of $152,967.

Previous wording

As of March 31, 2026, the Company held an investment in Forekast Limited with a carrying value of $17,000,000. This investment was acquired during the three months ended March 31, 2026 through the issuance of the Company’s common stock. Following the transaction, Forekast Limited became an affiliate of the Company.

Current wording

As of June 30, 2026, we held a 13.6% interest in Forekast Limited (“Forekast”) and a 0.99% interest in Greenophene Technologies Limited (“Greenophene”) with an investment value of $17,000,000 and $1,200,000, respectively. These investments were acquired during the six months ended June 30, 2026, through the issuance of our Common Stock. Following the transactions, Forekast and Greenophene became our affiliates.

Previous wording

Related parties primarily include the Company’s subsidiaries, affiliates, and other entities in which the Company has significant influence or control, as well as key management personnel and their affiliates. Transactions with related parties are disclosed in accordance with applicable accounting guidance. Refer to Note 7 to the Condensed Consolidated Financial Statements for additional details regarding related party transactions.

Current wording

Related parties primarily include our subsidiaries, affiliates, and other entities in which we have significant influence or control, as well as key management personnel and their affiliates. Transactions with related parties are disclosed in accordance with applicable accounting guidance. Refer to Note 7 to the Condensed Consolidated Financial Statements for additional details regarding related party transactions.

Previous wording

Effective January 1, 2025, the Company adopts Accounting Standards Update (ASU) 2023-08,Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets. This update requires the Company subsequently to remeasure its crypto assets at fair value in the consolidated balance sheets and record gains and losses from remeasurement in net income (loss) in the consolidated statements of operations.

Current wording

Effective January 1, 2025, the Company adopts Accounting Standards Update (ASU) 2023-08,Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets. This update requires the Company to subsequently remeasure its crypto assets at fair value in the consolidated balance sheets and record gains and losses from remeasurement in net income (loss) in the consolidated statements of operations.

Previous wording

Derivative financial instruments consist of financial instruments that contain a notional amount and one or more underlying variables, such as interest rate, security price, variable conversion rate or other variables, require no initial net investment and permit net settlement. The derivative financial instruments may be free-standing or embedded in other financial instruments. The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. The Company follows the provision of ASC 815, Derivatives and Hedging, for derivative financial instruments that are accounted for as liabilities. The derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. At each reporting date, the Company reviews its convertible securities to determine that their classification is appropriate.

Current wording

Derivative financial instruments consist of financial instruments that contain a notional amount and one or more underlying variables, such as interest rate, security price, variable conversion rate or other variables, require no initial net investment and permit net settlement. The derivative financial instruments may be free-standing or embedded in other financial instruments. The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. The Company follows the provision of ASC 815, Derivatives and Hedging, for derivative financial instruments that are accounted for as liabilities. The derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. At each reporting date, the Company reviews its convertible securities to determine if their classification is appropriate.

Previous wording

Our cash balance on March 31, 2026, was $540,914, as compared to $636,659 on December 31, 2025, a decrease of $95,745. We estimate we may have sufficient cash available to meet our anticipated working capital for the next twelve months upon improving its profitability and the continuing financial support from its major shareholders.

Current wording

The Company’s cash balance on June 30, 2026, was $634,440, as compared to $636,659 on December 31, 2025, a decrease of $2,219. The Company estimates it may have sufficient cash available to meet its anticipated working capital for the next twelve months upon improving its profitability and the continuing financial support from its major shareholders.

Previous wording

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. During the three months ended March 31, 2026, the Company incurred a net loss of $911,576 and net cash used in operations of $928,413, and as of March 31, 2026, the Company incurred an accumulated deficit of $41,158,288. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. In addition, the Company’s independent registered public accounting firm, in its report on the Company’s December 31, 2025 financial statements, has expressed substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Current wording

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. During the six months ended June 30, 2026, the Company incurred a net loss of $1,620,959 and net cash used in operations of $1,266,864, and as of June 30, 2026, the Company incurred an accumulated deficit of $41,867,671. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. In addition, the Company’s independent registered public accounting firm, in its report on the Company’s December 31, 2025 financial statements, has expressed substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Previous wording

Net cash used in operating activities was $928,413 and $240,942 for the three months ended March 31, 2026, and 2025, respectively. The net cash used in operating activities in 2026 primarily consisted of a net loss of $911,576, an increase in prepaids and other current assets of $33,158 and a decrease in deferred revenue of $88,535, offset by a decrease in digital assets of $33,696 and a decrease in deferred costs of revenue of $41,772. For the three months ended March 31, 2026, non-cash adjustments totaled $50,825, which was comprised of non-cash expenses from the provision for credit losses of $74, fair value loss on digital assets of $1,290 and depreciation and amortization of $49,461.

Current wording

Net cash used in operating activities was $1,266,864 and $772,674 for the six months ended June 30, 2026, and 2025, respectively. The net cash used in operating activities in 2026 primarily consisted of a net loss of $1,620,959 and an increase in prepaids and other current assets of $22,365, offset by a decrease in digital assets of $48,106, an increase in accounts payable and accrued liabilities of $204,384 and an increase in deferred revenue of $84,235. For the six months ended June 30, 2026, non-cash adjustments totaled $95,826, which was comprised of non-cash expenses from depreciation and amortization of $93,527, provision for credit losses of $115 and fair value loss on digital assets of $2,184.

Previous wording

The net cash used in operating activities in 2025 primarily consisted of an increase in prepaids and other current assets of $29,671 and a decrease in accounts payable and accrued liabilities of $158,488. For the three months ended March 31, 2025, non-cash adjustments totaled $67,846, which was comprised of non-cash expenses from the provision for credit losses of $41,013, fair value loss on digital assets of $6,765 and depreciation and amortization of $60,018, offset by non-cash income from gain on disposal of investment of $39,800 and reversal of impairment of investment of $150.

Current wording

The net cash used in operating activities in 2025 primarily consisted of a net loss of $1,209,704, an increase in digital assets of $41,380, and a decrease in accounts payable and accrued liabilities of $141,784, offset by an increase in deferred revenue of $528,746. For the six months ended June 30, 2025, non-cash adjustments totaled $124,872, which was primarily comprised of non-cash expenses from depreciation and amortization of $119,438 and provision for credit losses of $40,514, offset by non-cash income from gain on disposal of investments of $39,800.

Previous wording

Net cash provided by investing activities was $0 and $39,950 for the three months ended March 31, 2026, and 2025, respectively.

Current wording

Net cash provided by investing activities was $265 and $39,950 for the six months ended June 30, 2026, and 2025, respectively.