Tron Inc.

Previous wording

Tron Inc. is a Nevada corporation and was incorporated on April 22, 2022. SRM Entertainment Limited (“SRM Ltd”), a wholly owned subsidiary, is a limited company incorporated in the Hong Kong Special Administrative Region of the People’s Republic of China on January 23, 1981, and was acquired by the Company on August 14, 2023. The consolidated companies are collectively referred to as the Company.

Current wording

Tron Inc. is a Nevada corporation and was incorporated on April 22, 2022. SRM Entertainment Limited (“SRM Ltd”), a wholly owned subsidiary, is a limited company incorporated in the Hong Kong Special Administrative Region of the People’s Republic of China on January 23, 1981, and was acquired by the Company on August 14, 2023. On August 7, 2026, Tron International Limited (“Tron International”) was incorporated in Hong Kong and is a wholly owned subsidiary of Tron Inc.. Tron Matrix Limited is a wholly owned subsidiary of Tron International and is an exempted company incorporated in the Cayman Islands on August 14, 2026. These offshore entities were formed to conduct blockchain network operations, operating a Super Representative (“SR”) node on the TRON network.

Previous wording

On December 24, 2025, the Company entered into a Stock Purchase Agreement for the purchase of $18,000,000 of our restricted common stock with Black Anthem Limited owned by Justin Sun and payable in USDT (Tether) stablecoins (the “December SPA”). The transaction closed on January 8, 2026, at which time, $18 million USDT (Tether) stablecoins were transferred to the Treasury Wallet (as defined below) and 13,067,151 shares of the Company’s common stock were issued to Black Anthem. Additionally, the Company entered into a token sale and purchase agreement (“BGDL Token S&P Agreement”) with BiT Global Digital Limited (“BGDL”), a British Virgin Islands Business Company, dated January 6, 2026, under which the Company is purchasing $18,000,000 worth of TRX tokens from BGDL using a dollar-cost averaging mechanism over a 360-day period commencing January 22, 2026, as follows:

Current wording

On December 24, 2025, the Company entered into a Stock Purchase Agreement for the purchase of $18,000,000 of our restricted common stock with Black Anthem Limited owned by Justin Sun and payable in USDT (Tether) stablecoins (the “December SPA”). The transaction closed on January 8, 2026, at which time, $18 million USDT (Tether) stablecoins were transferred to the Treasury Wallet (as defined below) and 13,067,151 shares of the Company’s common stock were issued to Black Anthem. Additionally, the Company entered into a token sale and purchase agreement (“BGDL Token S&P Agreement”) with BiT Global Digital Limited, a British Virgin Islands Business Company, dated January 6, 2026, under which the Company is purchasing $18,000,000 worth of TRX tokens from BGDL using a dollar-cost averaging mechanism over a 360-day period commencing January 22, 2026, as follows:

Previous wording

During the six months ended June 30, 2026, the Company purchased a total of approximately 25,350,215 TRX tokens with an aggregate price of $7,950,000 under the BGDL Token S&P Agreement.

Current wording

During the nine months ended September 30, 2026, the Company purchased a total of approximately 39,117,189 TRX tokens with an aggregate price of $12,550,000 under the BGDL Token S&P Agreement.

Previous wording

The initial $18,000,000 was recorded as a prepayment for Digital Asset purchases. At June 30, 2026, the balance of the prepayment was $10,050,000.

Current wording

The initial $18,000,000 was recorded as a prepayment for Digital Asset purchases. At September 30, 2026, the balance of the prepayment was $5,450,000.

Previous wording

The TRX token is the native token of the TRON blockchain. As of July 30, 2026, the TRX token ranked number 6 by market valuation among all non-stablecoin crypto tokens globally. The Company’s plan is to accumulate and hold TRX tokens in its treasury and stake substantially all TRX tokens to earn yield. The Company has been engaging primarily in liquid staking activities by staking TRX tokens in its treasury through JustLend DAO, the leading decentralized finance (“DeFi”) protocol on the TRON blockchain, whereby it stakes its digital assets (TRX tokens) into the JustLend protocol to support network operations and, in return, accrues network rewards. The JustLend platform generates yield through a combination of standard staking rewards (i.e. token rewards derived from delegating to super representative nodes) and “energy” rental income on the TRON blockchain (i.e. renting to other users the idle TRON “energy” resources entitled by TRX staking).

Current wording

The TRX token is the native token of the TRON blockchain, and is one of the largest non-stablecoin crypto tokens globally by market capitalization. The Company’s plan is to accumulate and hold TRX tokens in its treasury and stake substantially all TRX tokens to earn yield. The Company has been engaging primarily in liquid staking activities by staking TRX tokens in its treasury through JustLend DAO, the leading decentralized finance (“DeFi”) protocol on the TRON blockchain, whereby it stakes its digital assets (TRX tokens) into the JustLend protocol to support network operations and, in return, accrues network rewards. The JustLend platform generates yield through a combination of standard staking rewards (i.e. token rewards derived from delegating to super representative nodes) and “energy” rental income on the TRON blockchain (i.e. renting to other users the idle TRON “energy” resources entitled by TRX staking).

Previous wording

(i)Governance of TRON blockchain: By staking their TRX token holdings, TRX token holders will be able to vote for super representative candidates. The top 27 super representative candidates with the highest votes will become the super representative nodes (the “SR”) and be able to participate in validation and block production. The super representative candidates who rank 28th to 127th are called super representative partners (the “SR Partners”). Each of the SRs, SR Partners and other super representative candidates may initiate community proposals, but only SRs are entitled to vote for the proposals. As of July 30, 2026, the SRs of TRON blockchain include, among others, Binance, HTX, Kraken, OKX, OKCoin Japan, P2P.org, Nansen, and Abra Capital.

Current wording

(i)Governance of TRON blockchain: By staking their TRX token holdings, TRX token holders will be able to vote for super representative candidates. The top 27 super representative candidates with the highest votes will become the super representative nodes (the “SR”) and be able to participate in validation and block production. The super representative candidates who rank 28th to 127th are called super representative partners (the “SR Partners”). Each of the SRs, SR Partners and other super representative candidates may initiate community proposals, but only SRs are entitled to vote for the proposals.

Previous wording

Through years of development, TRON blockchain has been uniquely positioned as the dominant settlement protocol for on-chain stablecoin payment. As of July 30, 2026, TRON had over 396 million in total user wallets globally, hosting approximately 90.3 billion in TRC-20 USDT (Tether) accounting for approximately 47.7% of total USDT supply.

Current wording

Through years of development, TRON blockchain has been uniquely positioned as the dominant settlement protocol for on-chain stablecoin payment. As of November 6, 2026, TRON had over 412 million in total user wallets globally, hosting approximately 94 billion in TRC-20 USDT (Tether) accounting for over half of total USDT supply.

Previous wording

TRON block generation is secured and validated by a diverse group of super representative nodes globally including major industry players such as Binance, HTX, Kraken, OKX, OKCoin Japan, P2P.org, Nansen, and Abra Capital.

Current wording

TRON block generation is secured and validated by a diverse group of super representative nodes globally including major industry players. On October 18, 2026, the Company (via its wholly owned subsidiaries) was successfully elected as one of the 27 SR nodes on the TRON network, enabling participation in block production, transaction validation, and on-chain governance.

Previous wording

The TRX token is the native token of the TRON blockchain, and it serves as the utility token for various scenarios. The staked TRX token (sTRX) is a derivative token issued by the JustLend DAO protocol that represents the “staked” TRX tokens, and provides holders exposure to automatically accruing yield through standard TRX staking rewards and energy renting. Users can obtain sTRX tokens by staking TRX tokens on JustLend. The sTRX token is not fixed at a 1:1 conversion ratio with the TRX token; instead, the number of TRX tokens which can be exchanged from one sTRX token increases over time as rewards accumulate in the overall pool of staked tokens. As the voting rewards and energy rent accrue, the conversion ratio of the TRX token to the sTRX token increases gradually, so that the number of TRX tokens which can be obtained by users by unstaking and swapping from sTRX tokens back to TRX tokens increases accordingly. By holding sTRX tokens, the Company is able to accrue enhanced yields from both standard TRX staking and energy rental. For the avoidance of doubt, the sTRX token does not generate discrete staking rewards. Instead, the economic benefit of staking is reflected through a floating conversion rate between TRX and sTRX, which increases over time based on accrued protocol rewards. For comparison, the TRX token remains the native token of the TRON blockchain, and which can be used directly for transaction fee payments and community governance; whereas the sTRX token functions as a staking and yield-bearing certificate. On June 28, 2025, August 28, 2025 and April 5, 2026, 365,096,800, 312,500,000 and 12,487,000 TRX tokens were converted into approximately 297,543,246, 252,133,646 and 9,700,149 sTRX tokens respectively, based on the real-time conversion ratio according to the JustLend webpage. According to the JustLend DAO documentation, users who unstake their sTRX must wait 14 days before they can withdraw the unstaked TRX by clicking “Withdraw” on the same page.

Current wording

The TRX token is the native token of the TRON blockchain, and it serves as the utility token for various scenarios. The staked TRX token (sTRX) is a derivative token issued by the JustLend DAO protocol that represents the “staked” TRX tokens, and provides holders exposure to automatically accruing yield through standard TRX staking rewards and energy renting. Users can obtain sTRX tokens by staking TRX tokens on JustLend. The sTRX token is not fixed at a 1:1 conversion ratio with the TRX token; instead, the number of TRX tokens which can be exchanged from one sTRX token increases over time as rewards accumulate in the overall pool of staked tokens. As the voting rewards and energy rent accrue, the conversion ratio of the TRX token to the sTRX token increases gradually, so that the number of TRX tokens which can be obtained by users by unstaking and swapping from sTRX tokens back to TRX tokens increases accordingly. By holding sTRX tokens, the Company is able to accrue enhanced yields from both standard TRX staking and energy rental. For the avoidance of doubt, the sTRX token does not generate discrete staking rewards. Instead, the economic benefit of staking is reflected through a floating conversion rate between TRX and sTRX, which increases over time based on accrued protocol rewards. For comparison, the TRX token remains the native token of the TRON blockchain, and which can be used directly for transaction fee payments and community governance; whereas the sTRX token functions as a staking and yield-bearing certificate. On June 28, 2025, August 28, 2025, April 5, 2026 and August 1, 2026, 365,096,800, 312,500,000, 12,487,000 and 17,730,000 TRX tokens were converted into approximately 297,543,246, 252,133,646, 9,700,149, and 13,546,269 sTRX tokens respectively, based on the real-time conversion ratio according to the JustLend webpage. According to the JustLend DAO documentation, users who unstake their sTRX must wait 14 days before they can withdraw the unstaked TRX by clicking “Withdraw” on the same page.

Previous wording

As of the date hereof, the Company does not have any material agreements with counterparties relating to the purchase or sale of TRX tokens. To date, the TRX tokens held in the Company’s treasury were received (i) as payment in kind from the Company’s controlling shareholder in connection with the issuance of Series B Preferred Stock and warrant shares in connection with the June Securities Purchase Agreement; and (ii) as a result of the token sale and purchase transactions under the BGDL Token S&P Agreement.

Current wording

As of the date hereof, other than the BGDL Token S&P Agreement, the Company does not have any material agreements with counterparties relating to the purchase or sale of TRX tokens. To date, the TRX tokens held in the Company’s treasury were received (i) as payment in kind from the Company’s controlling shareholder in connection with the issuance of Series B Preferred Stock and warrant shares in connection with the June Securities Purchase Agreement; and (ii) as a result of the token sale and purchase transactions under the BGDL Token S&P Agreement.

Previous wording

The primary focus of the business of the Company is the accumulation of TRX tokens with the goal to realize long-term value creation through price appreciation and staking yield. The sTRX token, being a derivative token that represents the “staked” TRX token, provides exposure to additional yield from standard TRX staking rewards and energy renting. The Company currently has no intention to use its TRX token reserve to support or finance its operating activities. However, the Company will not rule out the possibility of doing so in the future, subject to its business or financing needs. Further, save for the USDT (Tether) stablecoins received by the Company under the December SPA, the Company currently does not plan to hold any crypto assets other than TRX tokens and sTRX tokens which were obtained from TRX staking.

Current wording

The primary focus of the business of the Company is the accumulation of TRX tokens with the goal to realize long-term value creation through price appreciation and staking yield. The sTRX token, being a derivative token that represents the “staked” TRX token, provides exposure to additional yield from standard TRX staking rewards and energy renting. The Company currently has no intention to use its TRX token reserve to support or finance its operating activities (save for the set-up of its SR node). However, the Company will not rule out the possibility of doing so in the future, subject to its business or financing needs. Further, save for the USDT (Tether) stablecoins received by the Company under the December SPA, the Company currently does not plan to hold any crypto assets other than TRX tokens and sTRX tokens which were obtained from TRX staking.

Previous wording

With respect to the $18,000,000 December SPA and related BGDL Token S&P Agreement, on January 22, 2026, the Company commenced buying $50,000 USDT worth of TRX tokens daily (price of which shall be reasonably determined with reference to the market price of TRX token on a global cryptocurrency trading platform on each day) which have been and will be delivered daily to the Treasury Wallet for 360 consecutive days. As of June 30, 2026, the Company had purchased approximately 25,350,215 TRX tokens under the BGDL Token S&P Agreement, of which 12,487,000 had been staked as of that date.

Current wording

With respect to the $18,000,000 December SPA and related BGDL Token S&P Agreement, on January 22, 2026, the Company commenced buying $50,000 USDT worth of TRX tokens daily (price of which shall be reasonably determined with reference to the market price of TRX token on a global cryptocurrency trading platform on each day) which have been and will be delivered daily to the Treasury Wallet for 360 consecutive days. As of September 30, 2026, the Company had purchased approximately 39,117,189 TRX tokens under the BGDL Token S&P Agreement, of which 30,217,000 had been staked as of that date.

Previous wording

As of June 30, 2026, the Company held approximately 12,863,291 TRX tokens and approximately 559,377,041 sTRX tokens.

Current wording

As of September 30, 2026, the Company held approximately 8,890,055 TRX tokens and approximately 572,923,310 sTRX tokens.

Previous wording

Furthermore, on July 10, 2021, the CAC issued a revised draft of the Measures for Cybersecurity Review for public comment, which required that, among others, in addition to any “operator of critical information infrastructure”, any “data processor” controlling personal information of no less than one million users which seeks to list in a foreign stock exchange should also be subject to cybersecurity review, and further elaborated the factors to be considered when assessing the national security risks of the relevant activities. On December 28, 2021, the CAC, the National Development and Reform Commission (“NDRC”), and several other administrations jointly issued the revised Measures for Cybersecurity Review, which became effective and replaced the existing Measures for Cybersecurity Review on February 15, 2022. According to the Revised Review Measures, if an “online platform operator” that is in possession of personal data of more than one million users intends to list in a foreign country, it must apply for a cybersecurity review. Based on a set of Q&A published on the official website of the State Cipher Code Administration in connection with the issuance of the Revised Review Measures, an official of the said administration indicated that an online platform operator should apply for a cybersecurity review prior to the submission of its listing application with non-PRC securities regulators. Moreover, the CAC released the draft of the Regulations on Network Data Security Management in November 2021 for public consultation, which among other things, stipulates that a data processor listed overseas must conduct an annual data security review by itself or by engaging a data security service provider and submit the annual data security review report for a given year to the municipal cybersecurity department before January 31 of the following year. Given the recency of the issuance of the Revised Review Measures and their pending effectiveness, there is a general lack of guidance and substantial uncertainties exist with respect to their interpretation and implementation. It remains unclear whether a Hong Kong company which collects personal information from PRC individuals shall be subject to the Revised Review Measures. We do not currently expect the Revised Review Measures to have an impact on our business, our operations or our offerings as we do not believe that our subsidiary would be deemed to be an “operator of critical information infrastructure” or a “data processor” controlling personal information of no less than one million users, that would be required to file for cybersecurity review before listing in the U.S. However, there remains uncertainty in the interpretation and enforcement of relevant PRC cybersecurity laws and regulations. If the Revised Review Measures are adopted into law in the future and if our subsidiary is deemed to be an “operator of critical information infrastructure” or a “data processor” controlling personal infor…

Excerpt shortened here; the source contains the full paragraph.

Current wording

Furthermore, on July 10, 2021, the CAC issued a revised draft of the Measures for Cybersecurity Review for public comment, which required that, among others, in addition to any “operator of critical information infrastructure”, any “data processor” controlling personal information of no less than one million users which seeks to list in a foreign stock exchange should also be subject to cybersecurity review, and further elaborated the factors to be considered when assessing the national security risks of the relevant activities. On December 28, 2021, the CAC, the National Development and Reform Commission (“NDRC”), and several other administrations jointly issued the revised Measures for Cybersecurity Review, which became effective and replaced the existing Measures for Cybersecurity Review on February 15, 2022. According to the Revised Review Measures, if an “online platform operator” that is in possession of personal data of more than one million users intends to list in a foreign country, it must apply for a cybersecurity review. Based on a set of Q&A published on the official website of the State Cipher Code Administration in connection with the issuance of the Revised Review Measures, an official of the said administration indicated that an online platform operator should apply for a cybersecurity review prior to the submission of its listing application with non-PRC securities regulators. Moreover, the CAC released the draft of the Regulations on Network Data Security Management in November 2021 for public consultation, which among other things, stipulates that a data processor listed overseas must conduct an annual data security review by itself or by engaging a data security service provider and submit the annual data security review report for a given year to the municipal cybersecurity department before January 31 of the following year. Although the Revised Review Measures have been effective since February 15, 2022, there remains limited guidance and substantial uncertainties exist with respect to their interpretation and implementation. It remains unclear whether a Hong Kong company which collects personal information from PRC individuals shall be subject to the Revised Review Measures. We do not currently expect the Revised Review Measures to have an impact on our business, our operations or our offerings as we do not believe that our subsidiary would be deemed to be an “operator of critical information infrastructure” or a “data processor” controlling personal information of no less than one million users, that would be required to file for cybersecurity review before listing in the U.S. However, there remains uncertainty in the interpretation and enforcement of relevant PRC cybersecurity laws and regulations. If our subsidiary is deemed to be an “operator of critical information infrastructure” or a “data processor” controlling personal information of no less than one million users, our operation and the listing of our Common Stock…

Excerpt shortened here; the source contains the full paragraph.

Previous wording

Our management’s discussion and analysis of our financial condition and results of operations is based on our unaudited financial statements for the six months ended June 30, 2026 and 2025 and audited financial statements for the year ended December 31, 2025, which have been prepared in accordance with United States generally accepted accounting principles, or U.S. GAAP, and the rules and regulations of the Securities and Exchange Commission. The preparation of the financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported revenue generated, and expenses incurred during the reporting periods. Our estimates are based on our historical experience and on various other factors that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions and any such differences may be material. We believe that the accounting policies discussed below are critical to understanding our historical and future performance, as these policies relate to the more significant areas involving management’s judgments and estimates.

Current wording

Our management’s discussion and analysis of our financial condition and results of operations is based on our unaudited financial statements for the nine months ended September 30, 2026 and 2025 and audited financial statements for the year ended December 31, 2025, which have been prepared in accordance with United States generally accepted accounting principles, or U.S. GAAP, and the rules and regulations of the Securities and Exchange Commission. The preparation of the financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported revenue generated, and expenses incurred during the reporting periods. Our estimates are based on our historical experience and on various other factors that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions and any such differences may be material. We believe that the accounting policies discussed below are critical to understanding our historical and future performance, as these policies relate to the more significant areas involving management’s judgments and estimates.

Previous wording

Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. If applicable, diluted earnings per share assume the conversion, exercise or issuance of all common stock instruments such as options, warrants, convertible securities and preferred stock, unless the effect is to reduce a loss or increase earnings per share.

Current wording

Net income per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share assume the conversion, exercise or issuance of all common stock instruments such as options, warrants, convertible securities and preferred stock, unless the effect is to reduce a loss or increase earnings per share.

Previous wording

SRM Ltd generates its revenue from the sale of its products directly to the end user or distributor (collectively the “customer”).

Current wording

SRM Ltd generates its revenue from the sale of its products directly to the end user (“customer”).

Previous wording

The Company accounts for sTRX as a digital asset and measures it at fair value, with changes in fair value recognized in the statement of operations as unrealized gains or losses. Because staking rewards are embedded in the appreciation of sTRX, the Company does not recognize separate staking income until the sTRX is redeemed or disposed of. Any increase in estimated value attributable to staking activity is considered an estimate of unrealized staking income recorded at fair value.

Current wording

The Company accounts for sTRX as a digital asset and measures it at fair value, with changes in fair value recognized in the statement of operations as unrealized gains or losses. Any increase in estimated value attributable to staking activity is considered an estimate of unrealized staking income recorded at fair value.

Previous wording

The Company’s deferred tax liability at June 30, 2026, consisted primarily of unrealized gains on its investments in digital assets and income derived from staking digital assets calculated using the effective tax rate (21% US rate) equating to approximately $2,253,384. The Company’s deferred tax assets at December 31, 2025 consisted of net operating loss carry forwards calculated using effective tax rates (20% average of China and US rates) equating to $3,253,925, less a valuation allowance in the amount of approximately $3,253,925 for the year ended December 31, 2025.

Current wording

The Company’s deferred tax assets at December 31, 2025 consisted of net operating loss carry forwards calculated using effective tax rates (21.0% for US and 16.5% for Hong Kong) equating to $3,253,925, less a valuation allowance in the amount of approximately $3,253,925 for the year ended December 31, 2025.

Previous wording

The following table provides selected financial data about us for the three and six Months ended June 30, 2026 and 2025, respectively.

Current wording

The following table provides selected financial data about us for the three and nine Months ended September 30, 2026 and 2025, respectively.

Previous wording

We generated $2,753,301 in revenues for the six months ended June 30, 2026 compared to $2,432,563 revenues for the six months ended June 30, 2025. The increase is primarily due to relative price increases.

Current wording

We generated $1,187,490 in revenues for the three months ended September 30, 2026, compared to $1,104,293 revenues for the three months ended September 30, 2025. The increase is primarily due to the timing of commission income recognition and the timing of copyright revenue.

Previous wording

Operating expenses for the three months ended June 30, 2026 and 2025 were $826,423 and $1,036,406, respectively. The operating expenses for the three months ended June 30, 2026, consisted of (i) marketing expense of $26,761, (ii) legal and professional fees of $42,821, (iii) amortization and depreciation of $18,252, (iv) rent and utilities of $75,354, (v) general and administrative expense of $636,877 which included salary and wages of $427,582 and (vi) $26,358 for Nasdaq and other related fees, versus the operating expenses for the three months ended June 30, 2025, consisting of (i) marketing expense of $28,086, (ii) legal and professional fees of $56,298, (iii) amortization and depreciation of $77,970, (iv) rent and utilities of $9,815, (v) general and administrative expense of $523,051 and (vi) $341,186 of stock based compensation.

Current wording

Operating expenses for the three months ended September 30, 2026 and 2025 were $947,549 and $954,646, respectively. The operating expenses for the three months ended September 30, 2026, consisted of (i) marketing expense of $8,203, (ii) legal and professional fees of $45,244, (iii) amortization and depreciation of $8,051, (iv) rent and utilities of $92,989, (v) general and administrative expense of $765,365 which included salary and wages of $496,665 and (vi) $27,697 for Nasdaq and other related fees, versus the operating expenses for the three months ended September 30, 2025, (i) marketing expense of $42,202, (ii) legal and professional fees of $117,191, (iii) amortization and depreciation of $84,906, (iv) rent and utilities of $39,635, (v) general and administrative expense of $482,769 and (vi) $187,969 of Nasdaq and other related fees.

Previous wording

The Company had an unrealized gain on its digital asset investment of $444,149 due to the increase in market value of the digital asset, unrealized income from digital assets of $3,348,398 from revenue generated from the digital assets, $318,996 realized gain on change of fair value when TRX converted sTRX and net interest income and expense of $55,696.

Current wording

The Company had an unrealized gain on its digital asset investment of $16,325,956 due to the increase in market value of the digital asset, unrealized staking income from digital assets of $3,180,424, a $106,228 realized loss on change of fair value when TRX converted to sTRX and net interest income and expense of $67,333.

Previous wording

The Company had deferred income tax expense related to the unrealized gains and income related to its digital assets resulting in a deferred tax provision of $763,607.

Current wording

The Company had deferred income tax expense related to the unrealized gains and income related to its digital assets resulting in a deferred tax provision of $3,972,631.

Previous wording

We generated $1,568,626 in revenues for the three months ended June 30, 2026, compared to $1,342,929 revenues for the three months ended June 30, 2025. The increase is primarily due to relative price increases.

Current wording

We generated $3,940,791 in revenues for the nine months ended September 30, 2026 compared to $3,536,856 revenues for the nine months ended September 30, 2025. The increase is primarily due to relative price increases.

Previous wording

Operating expenses for the six months ended June 30, 2026 and 2025 were $1,741,335 and $1,950,316, respectively. The operating expenses for the six months ended June 30, 2026, consisted of (i) marketing expense of $56,368, (ii) legal and professional fees of $72,321, (iii) amortization and depreciation of $36,170, (iv) rent and utilities of $126,660, (v) general and administrative expense of $1,394,786, which included salary and wages of $816,983 and (vi) $55,030 for Nasdaq and other related fees versus the operating expenses for the six months ended June 30, 2025, consisting of (i) marketing expense of $51,208, (ii) legal and professional fees of $254,368, (iii) amortization and depreciation of $159,541, (iv) rent and utilities of $30,138, (v) general and administrative expense of $966,095 and (vi) $488,966 of stock based compensation.

Current wording

Operating expenses for the nine months ended September 30, 2026 and 2025 were $2,688,884 and $2,904,962, respectively. The operating expenses for the nine months ended September 30, 2026, consisted of (i) marketing expense of $64,571, (ii) legal and professional fees of $117,565, (iii) amortization and depreciation of $44,221, (iv) rent and utilities of $219,649, (v) general and administrative expense of $2,160,151, which included salary and wages of $1,313,648 and (vi) $82,727 for Nasdaq and other related fees versus the operating expenses for the nine months ended September 30, 2025, which consisted of (i) marketing expense of $93,410, (ii) legal and professional fees of $371,559, (iii) amortization and depreciation of $244,447, (iv) rent and utilities of $69,773, (v) general and administrative expense of $1,387,921, (vi) Nasdaq and related fees of 248,912 and (vii) $488,966 of stock based compensation.

Previous wording

The Company had an unrealized gain on its digital asset investment of $21,105,331 due to the increase in market value of the digital asset, unrealized income from digital assets of $6,332,428 from revenue generated from the digital assets, a $318,996 realized gain on change of fair value when TRX converted sTRX and net interest income and expense of $125,373.

Current wording

The Company had an unrealized gain on its digital asset investment of $37,431,287 due to the increase in market value of the digital asset, unrealized staking income from digital assets of $9,512,852, a $212,768 realized gain on change of fair value when TRX converted sTRX and net interest income and expense of $192,706.

Previous wording

As of June 30, 2026, we had approximately $9,495,598 in cash and cash equivalents, a decrease of $959,762 from the $10,455,360 we had as of December 31, 2025. As of June 30, 2026, we had approximately $20,818,562 in working capital, an increase of $9,061,045 from the $11,757,517 we had at December 31, 2025.

Current wording

As of September 30, 2026, we had approximately $8,576,619 in cash and cash equivalents, a decrease of $1,878,741 from the $10,455,360 we had as of December 31, 2025. As of September 30, 2026, we had approximately $15,747,323 in working capital, an increase of $3,989,806 from the $11,757,517 we had at December 31, 2025.

Previous wording

Net cash used in our operating activities during the six months ended June 30, 2026, totaled $959,762 compared to $165,653 used during the six months ended June 30, 2025.

Current wording

Net cash used in our operating activities during the nine months ended September 30, 2026, totaled $1,906,741 compared to $1,015,685 used during the nine months ended September 30, 2025.

Previous wording

During the six months ended June 30, 2026, the Company had no cash based financing activities; however on December 24, 2025, the Company entered into a Stock Purchase Agreement (the “Black Anthem SPA”) for the purchase of 13,067,151 shares of our restricted common stock with Black Anthem Limited, which is owned by Justin Sun, for $18,000,000 payable in USDT (Tether) stablecoins. The $18,000,000 was accounted for as a Subscription Receivable and Common Stock Payable at December 31, 2025.

Current wording

On December 24, 2025, the Company entered into a Stock Purchase Agreement (the “Black Anthem SPA”) for the purchase of 13,067,151 shares of our restricted common stock with Black Anthem Limited, which is owned by Justin Sun, for $18,000,000 payable in USDT (Tether) stablecoins. The $18,000,000 was accounted for as a Subscription Receivable and Common Stock Payable at December 31, 2025.

Previous wording

On January 8, 2026, the Black Anthem SPA closed, at which time, $18 million USDT (Tether) stablecoins were delivered to BGDL representing a prepayment on the purchase of the TRX tokens. During the six months ended June 30, 2026, the Company purchased a total of approximately 25,350,215 TRX tokens with an aggregate price of $7,950,000 under the BGDL Token S&P Agreement. At June 30, 2026, the balance of the prepayment was $10,050,000.

Current wording

On January 8, 2026, the Black Anthem SPA closed, at which time, $18 million USDT (Tether) stablecoins were delivered to BGDL representing a prepayment on the purchase of the TRX tokens. During the nine months ended September 30, 2026, the Company purchased a total of approximately 39,117,189 TRX tokens with an aggregate price of $12,550,000 under the BGDL Token S&P Agreement. At September 30, 2026, the balance of the prepayment was $5,450,000.

Previous wording

During the six months ended June 30, 2025, the Company had net cash provided by financing activities totaling $4,111,422 consisting of: (i) $4,267,344 net proceeds from a private placement for the purchase of Series A Preferred Stock and related conversion into common stock; (ii) the exercise of 645,000 options for $344,007; (iii) a $500,000 payment on a promissory note; and (iv) $71 from the exercise of pre-funded warrants.

Current wording

During the nine months ended September 30, 2026, the Company had net cash provided by financing activities totaling $28,000 from the exercise of 50,000 options.