AVAX ONE TECHNOLOGY LTD.

Listed Company

AVXCIK 0001826397NasdaqEmerging GrowthFinance ServicesA1CAFY ends Dec 31

Period

FY 2025

Revenue

$2.34M

Net Income

$-33.20M

Total Assets

$194.96M

Equity

$186.98M

Shares Out

89.80M

Op. Cash Flow

$-14.45M

Business

AVAX ONE TECHNOLOGY LTD. operates as a sustainable technology company focused on agri‑tech, clean‑room decontamination and Bitcoin mining operations. It develops and commercializes plant‑based ingredient products (UN(THINK)/Awakened Flour and Awakened Grains) and related finished food prototypes, and markets Hydroxyl decontamination devices and FORCEGH+ controlled environment agriculture equipment. The business is organized into Brands and Solutions divisions (AgriFORCE™ Brands, AgriFORCE™ Solutions, and Radical Clean Solutions) and now includes Bitcoin mining facilities integrated with on‑site agricultural operations. Operations and distribution target Canada, the United States, Mexico and broader international channels (EMEA, Latin America, Asia) through B2B ingredient sales, B2C channels and distribution agreements.

Summary from filing dated 2025-04-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
REVENUE	2	26,572	16,281	—	—
Cost of revenue, excluding depreciation	1	56,048	—	—	—
Depreciation and amortization	1	650,239	679,844	22,413	—
Impairment of assets	6	4	—	—	—
Consulting	447,258	393,142	1	3	1
Investor and public relations	570,194	273,492	447,725	907,436	748,349
Lease expense	49,798	60,224	290,017	—	—
Office and administrative	1	663,155	1	1	780,135
Professional fees	1	614,332	1	3	882,146
Repairs and maintenance	388,423	20,610	—	—	—
Research and development	18,774	75,285	6,589	615,693	474,338
Sales and marketing	141,361	123,653	221,840	387,130	—
Severance expense	356,087	—	—	—	—
Share-based compensation	2	387,090	841,081	940,945	—
Shareholder and regulatory	238,723	165,779	121,472	221,083	143,095
Travel and entertainment	72,078	47,147	110,224	280,838	69,598
Wages and salaries	2	2	3	3	2
Realized gain on sale of digital assets	−86,728	—	—	—	—
Unrealized loss on market valuation of digital assets	8	—	—	—	—
Write-off deposit	—	50,000	—	—	—
Legal settlement	—	111,196	—	—	—
Write-off inventory	5,961	38,470	—	—	—
Total operating expenses	24	10	11	14	—
Operating loss	−22	−10	−11	−14	−7
Accretion of interest on debentures	3	3	8	3	483,529
Change in fair value of derivative liabilities	−3	−1	—	—	—
Foreign exchange loss (gain)	80,443	−204,730	75,009	−290,079	−162,976
(Gain) loss on conversion of convertible debt	−86,563	2	1	−93,973	—
Loss on debt extinguishment	10	3	680,935	—	—
Gain on extinguishment of warrant liability	—	−14,769	—	—	—
Other (income) expense	33,251	−29,319	—	—	—
Other loss	—	4,252	—	—	—
Total other expenses, net	10	6	—	—	—
Net loss from continuing operations	−32	−16	—	—	—
Loss from operations of discontinued operations	−320,189	−403,062	—	—	—
Loss on disposal of discontinued operations	−880,482	—	—	—	—
Net loss from discontinued operations	−1	−403,062	—	—	—
Net loss	−33	−16	−12	−13	−7
Foreign currency translation	37,157	−831,698	316,114	−609,624	−152,140
Comprehensive loss attributable to common shareholders	−33	−17	−11	−13	−8
Basic net loss per common share for continuing operations	−1.95	−200.17	—	—	—
Basic net loss per common share for discontinued operations	−0.07	−5.08	—	—	—
Basic net loss per common share, total	−2.03	−205.25	−1,011	−35.6	−0.66
Dilute net loss per common share for continuing operations	−2.08	−195.08	—	—	—
Diluted net loss per common share for discontinued operations	−0.07	−4.43	—	—	—
Diluted net loss per common share, total	−2.15	−199.51	−1,011	−35.6	—
Basic	16	79,292	11,605	361,607	11
Diluted	17	91,049	11,605	361,607	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	22	489,868	—	2	8
Escrow receivable	5	—	—	—	—
Other receivables	17,085	115,520	30,859	48,941	32,326
Deposit receivable	58,177	73,849	—	—	—
Prepaid expenses and other current assets	6	320,213	272,872	598,342	309,040
Current assets in discontinued operations	—	281,501	—	—	—
Total current assets	34	1	4	3	8
Property and equipment, net	4	808,895	11,801	121,672	40,971
Digital assets, non-current	154	26,282	—	—	—
Intangible assets, net	408,857	8	13	13	1
Intangible asset held for sale	2	—	—	—	—
Goodwill	2	—	—	—	—
Lease deposit, non-current	50,079	45,224	63,708	—	—
Long-term assets in discontinued operations	—	789,055	—	—	—
Total assets	195	11	17	22	12
Accounts payable and accrued liabilities	1	2	2	1	2
Debentures, net of discount	6	1	4	4	—
Derivative liabilities, current	—	293,761	—	—	—
Loan payable	220,000	—	—	—	—
Other current liabilities	50,000	—	—	—	—
Current liabilities in discontinued operations	—	99,111	—	—	—
Total current liabilities	8	4	6	5	2
Derivative liabilities	—	191,902	3	5	1
Long-term debt	—	41,699	45,365	44,300	47,326
Long-term liabilities in discontinued operations	—	98,864	—	—	—
Total liabilities	8	5	9	11	4
Commitments and contingencies - See Note 18	—	—	—	—	—
Common shares, no par value per share - unlimited shares authorized; 92,938,802 and 172,255 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	283	65	50	27	26
Additional paid-in-capital	23	3	3	17	2
Subscription receivable - digital assets	−24	—	—	—	—
Obligation to issue shares	44,214	44,214	97,094	—	93,295
Accumulated deficit	−94	−61	−45	−33	−20
Accumulated other comprehensive loss	−1	−1	−326,596	−642,710	−33,086
Total shareholders equity	187	6	9	11	8
Total liabilities and shareholders equity	195	11	17	22	12

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1	667,061	—	—	—
Unrealized losses on digital assets	8	—	—	—	—
Share-based compensation	2	22,780	317,933	420,715	796,141
Shares issued for consulting services	228,969	27,624	324,311	760,162	321,121
Shares issued for compensation	—	62,759	445,293	520,230	—
Amortization of debt issuance costs	3	3	8	3	483,529
Amortization of power purchase agreement	217,548	—	—	—	—
Change in fair value of derivative liabilities	−3	−1	—	—	—
Loss on disposal of fixed assets	—	4,252	—	—	—
Loss on long-term investment	—	97,488	—	—	—
Write-off of deposit	—	50,000	12,000	—	—
Prepaid research and development	—	63,566	—	—	—
Revenue from crypto asset production	−2	−26,282	—	—	—
Other receivables	90,952	−84,661	18,082	−16,615	−23,353
Prepaid expenses and other current assets	−5	−286,399	313,470	−274,302	−235,713
Inventories	—	−3,586	−38,857	—	—
Deposit receivable	—	−73,849	—	—	—
Lease deposit asset	−108,557	15,502	−63,708	—	—
Contingent payable	—	80,218	—	—	—
Accounts payable and accrued liabilities	−1	641,284	834,147	75,552	662,173
Other current liabilities	−50,000	−15,336	—	—	—
Net cash used in operating activities	−14	−5	−7	−12	−5
Acquisitions	−5	−673,769	—	—	—
Acquisition of property and equipment	−1	−839,937	—	−104,986	−25,522
Cash consideration paid for business combination	—	−356,079	—	—	—
Digital asset purchases	−110	—	—	—	—
Proceeds from sale of digital assets	450,884	—	—	—	—
Proceeds from sale of intangible assets	50,000	—	—	—	—
Net cash used in investing activities	−116	−2	−225,000	−640,014	−1
Proceeds from common shares issued for cash at the market	2	3	1	—	—
Share issuance costs paid for share issued at the market	−111,449	—	−153,220	—	—
Proceeds from common shares issued in the offering	131	—	—	—	—
Share issuance costs paid for shares issued in the offering	−6	—	—	—	—
Proceeds from pre-funded warrants issued for cash in the offering	14	—	—	—	—
Share repurchases in the open market	−257,964	—	—	—	—
Proceeds from debentures, net of discount	11	2	—	—	—
Repayment of convertible debentures	−431,552	−1	−2	−3	—
Financing costs of debentures	−157,000	−84,463	−387,917	−2	−69,000
Proceeds from loan payable	220,000	—	—	—	—
Repayment of loan payable	−42,787	—	—	—	—
Proceeds from the exercise of warrants	403,061	—	—	—	238,800
Other	177	—	—	—	—
Net cash provided by financing activities	152	4	8	8	13
Effect of exchange rate changes on cash	−108,148	142,667	65,258	−346,703	−139,931
Change in cash and cash equivalents	22	−3	2	−6	7
Cash paid during the period for interest	38,656	53,403	198,427	338,753	—
Cash paid during the period for income taxes	—	—	—	—	—
Shares issued for conversion of convertible debt	16	11	—	—	—
Shares issued in exchange for digital assets	74	—	—	—	—
Reclassification of derivative liabilities	3	—	—	—	—
Escrow receivable obtained in connection with issuance of convertible debt	5	—	—	—	—
Warrants issued with convertible debt and classified as equity	3	—	—	—	—
Initial fair value of debenture warrants initially classified as derivatives	4	1	—	—	—
Initial fair value of conversion feature of debentures initially classified as derivatives	1	898,000	—	—	—

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