What changed in this filing

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Item 4. Controls and Procedures

2026-08-19 compared with 2026-05-14 · 52 added, 7 removed, 12 unchanged (83% of the section changed)

1 unchanged sentence

of Disclosure Controls and Procedures

management, with the participation of our Chief Executive Officer and our Chief Financial Officer, have evaluated the effectiveness of

the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of March

management, with the participation of our Chief Executive Officer and our Chief Financial Officer, has evaluated the effectiveness of

the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of June

Our disclosure controls and procedures are designed to provide reasonable assurance that information required to be disclosed

5 unchanged sentences

as appropriate to allow timely decisions regarding required disclosure.

Based on this evaluation, management concluded that our disclosure

controls and procedures were effective as of March 31, 2026.

on this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were

not effective as of June 30, 2026 because of the material weakness in internal control over financial reporting described below.

Weakness in Internal Control Over Financial Reporting

material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is

a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented

or detected on a timely basis.

identified a material weakness in the design and operation of controls over the preparation and review of the Company’s

statements of cash flows.

Specifically, the Company’s statement-of-cash-flows worksheet did not adequately distinguish between

cash and noncash investing and financing activities, and the related financial statement review controls were not designed or

operating at a level of precision sufficient to verify that material investing and financing transactions involved cash or cash

equivalents before inclusion on the face of the statement of cash flows.

a result, certain noncash DeFi borrowing and repayment transactions were presented on the face of previously issued statements of cash

flows as cash investing and financing activities while also being disclosed as supplemental noncash investing and financing activities.

This resulted in an immaterial correction of an error related to certain gross investing and financing cash flows for the affected periods,

although the errors did not affect the Company’s reported ending cash and cash equivalents, net change in cash and cash equivalents,

results of operations, or financial position.

material weakness resulted in revisions to the Company’s previously issued statements of cash flows for the affected periods, as

described in Note 2, “Basis of Presentation,” to the unaudited condensed financial statements included in this Quarterly

Report on Form 10-Q.

Notwithstanding

the material weakness, management believes that the unaudited condensed financial statements included in this Quarterly Report on Form

10-Q present fairly, in all material respects, the Company’s financial position, results of operations and cash flows for the periods

presented in conformity with accounting principles generally accepted in the United States.

of the Material Weakness

has begun implementing a remediation plan designed to address the material weakness.

The remediation plan includes:

● redesigning

the statement-of-cash-flows worksheet to separately identify cash and noncash investing and

financing activities;

documented verification of whether material investing and financing transactions involve

cash or cash equivalents before inclusion on the face of the statement of cash flows;

the review of DeFi and other digital-asset transactions to verify their appropriate cash-flow

classification and presentation;

● reconciling

investing and financing activity presented on the face of the statement of cash flows to

related supplemental noncash disclosures to identify potential duplicate presentation;

the documentation and review of significant, unusual, and nonroutine digital-asset transactions

affecting the statement of cash flows.

remediation efforts are ongoing.

The material weakness will not be considered remediated until the enhanced controls have been fully

implemented, have operated for a sufficient period of time, and management has concluded, through testing, that the controls are designed

and operating effectively.

in Internal Control over Financial Reporting

were no changes in our internal control over financial reporting as defined in Rules 13a-15(f) or 15d-15(f) under the Exchange Act that

occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, our internal

control over financial reporting.

Other than the remediation

measures described above that were initiated subsequent to June 30, 2026, there were no changes in our internal control over financial

reporting as defined in Rules 13a-15(f) or 15d-15(f) under the Exchange Act that occurred during the period covered by this report that

have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

noted above, subsequent to June 30, 2026, management began implementing the remediation measures described in “Remediation of

the Material Weakness” above.

Management will continue to evaluate and monitor the design and operating effectiveness of these

II - OTHER INFORMATION

1 unchanged sentence

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 4. Controls and Procedures