USBC, Inc.

Listed Company

USBCCIK 0001074828NYSENon-AcceleratedSmaller ReportingFinance ServicesNevadaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-22.12M

Total Assets

$125.08M

Equity

$97.12M

Shares Out

388.14M

Op. Cash Flow

$-7.60M

Business

USBC, Inc. is a multi-disciplinary technology company that develops digital financial technologies and maintains legacy non-invasive sensor research. It offers a USBC tokenized deposit platform, digital identity-integrated wallets, compliance-enabled smart contracts, API and white-label solutions, and Bitcoin-based treasury management services. Key business segments include the tokenized deposit program and distribution partnerships (platform and program management), a Bitcoin treasury strategy managed via derivatives, and a Science Division focused on sensor technology and IP preservation. Its platform targets retail deposit customers, fintech distribution partners, and institutional counterparties through bank partnerships and public blockchain rails.

Summary from filing dated 2025-12-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
RESEARCH AND DEVELOPMENT EXPENSES	2	6	8	5	4
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	16	9	7	8	6
Total operating expenses	18	15	14	17	10
OPERATING LOSS	−18	−15	−14	−13	−10
Interest income	66,280	155,248	—	—	—
Interest expense	−3	−2	—	—	—
Loss on debt settlements, net	−942,462	0	−506,865	0	—
Change in fair value of digital assets	−823,062	0	—	—	—
Other derivative income, net	283,154	0	−495,776	521,628	0
Total other expense, net	−4	−1	−495,776	−7	−15
LOSS BEFORE INCOME TAXES	−22	−17	−15	−20	−25
Income tax benefit	−172,843	0	0	0	0
NET LOSS	−22	−17	−15	−20	−25
Deemed dividends on Series C, D and H Preferred Stock	−2	−313,536	−4	0	—
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	−24	−17	−20	—	—
Basic and diluted loss per share	−0.39	−7.85	—	—	—
Weighted average shares of common stock outstanding- basic and diluted (1)	63	2	—	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-09-30	FY 2024 2024-12-31	FY 2024 2024-09-30	FY 2023 2023-09-30
Cash and cash equivalents	4	9	1	3	8
Prepaid Expense, Current	291,174	228,030	—	0	—
Derivative assets	61,348	708,170	—	0	—
Digital assets - receivable, net	2	0	—	—	—
Total current assets	7	10	—	3	8
PROPERTY AND EQUIPMENT, NET	28,547	35,429	—	66,796	81,325
Digital assets	87	115	—	0	—
Other assets	24,174	24,174	—	149,174	15,766
Operating lease right-of-use asset	186,900	218,475	—	337,703	145,090
TOTAL ASSETS	94	125	—	4	8
Accounts payable - trade	2	2	—	552,680	1
Accounts payable - related parties	0	53,750	—	0	—
Accrued expenses	1	962,354	—	101,582	94,062
Current portion of convertible notes payable, net	0	88,428	—	3	—
Current portion of operating lease right-of-use liability	84,712	82,118	—	108,560	154,797
Derivative liabilities	509,022	724,255	—	0	—
Total current liabilities	4	4	—	5	5
Operating lease liability, net of current portion	150,106	172,245	—	249,728	0
Deferred tax liability	8	24	—	0	—
Total liabilities	12	28	—	6	5
Common stock - $0.001 par value, 750,000,000 shares authorized, 388,143,679 and 2,702,444 shares issued and outstanding at September 30, 2025 and September 30, 2024, respectively (1)	388,144	388,144	—	108,021	80,358
Additional paid in capital	272	260	—	136	126
Accumulated deficit	−191	−163	—	−139	−122
Total stockholders' equity (deficit)	82	97	—	−2	4
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	94	125	—	4	8

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Net loss	−22	−17	−15	—	—
Depreciation and amortization	31,367	80,881	313,019	—	—
Stock based compensation - stock option grants	7	3	3	—	1
Issuance of common stock for services	1	277,011	0	451,487	3
Amortization of operating lease right-of-use asset	119,228	189,286	142,840	—	—
Interest expense for default of convertible notes	748,600	0	349,721	—	—
Interest expense for repricing of warrants	233,916	0	—	—	—
Interest expense for extension of notes and warrants	513,499	594,761	—	—	—
Amortization of debt issuance costs	1	830,948	0	—	—
Deferred income taxes	−172,843	0	—	—	—
Prepaid expenses	−228,030	0	—	—	0
Operating lease right-of-use liability	−103,925	−178,408	−147,719	−22,917	—
Derivative liabilities	0	0	—	—	—
Digital assets	0	0	—	—	—
Derivative assets	0	0	—	—	—
Other long-term assets	125,000	−133,408	—	—	—
Accounts payable - trade, related parties and accrued expenses	2	−866,422	317,085	1	797,337
NET CASH USED IN OPERATING ACTIVITIES	−8	−13	−10	−7	−7
Purchase of research and development equipment	0	−66,352	−80,797	−855,468	—
NET CASH USED IN INVESTING ACTIVITIES:	0	−66,352	−80,797	−855,468	−299,525
Proceeds from issuance of common stock - Goldeneye 1995 LLC investment	15	0	—	—	—
Proceeds from issuance of common stock offering, net	300,000	5	—	—	—
Proceeds from issuance of common stock for warrant exercise	0	7,800	—	—	—
Proceeds from At The Market common stock offering	1	0	4,687	26,687	23,344
Redemption of Series H Preferred Stock	−514,067	0	—	—	—
Repayment of convertible notes payable	−3	−982,450	0	−179,103	0
Proceeds from convertible notes payable	656,000	4	—	0	14
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	13	8	6	8	15
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	6	−5	−5	335,474	8
Interest paid	186,595	140,000	0	0	18,800
Taxes paid	0	0	0	0	0
Deemed dividends on Series C, D and H Preferred Stock	2	313,536	—	—	—
Common stock issued for debt payment	3	240,000	—	—	—
Common stock issued for contribution of digital assets	116	0	—	—	—
Deferred tax liability recognized from contribution of digital assets	24	0	—	—	—
Common stock issued for conversion of Series H convertible preferred stock	670,000	0	—	—	—
Issuance costs from common stock offering	0	670,149	2	0	—
Warrants issued for debt offering	0	2	0	—	—
Conversion of notes payable into Series H convertible preferred stock	2	0	—	—	—
Bitcoin received from treasury trading strategy	283,154	0	—	—	—

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