A
AVAX ONE TECHNOLOGY LTD.
Period
FY 2025
Revenue
$2.34M
Net Income
$-33.20M
Total Assets
$194.96M
Equity
$186.98M
Shares Out
92.44M
Op. Cash Flow
$-14.45M
Business
AVAX One Technology Ltd. (formerly AgriFORCE) operates a digital asset treasury strategy focused on accumulating and holding Avalanche (AVAX) tokens, generating revenue through staking rewards. The company also owns and operates Bitcoin mining facilities in Alberta, Canada and Ohio, mining cryptocurrency using ASIC machines powered by low-cost sustainable energy. The company transitioned from legacy ag-tech operations to digital assets and Bitcoin mining in 2024–2025, maintaining a portfolio of AVAX tokens and mined Bitcoin held for long-term appreciation.
Summary from 10-K filed 2026-03-31
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | 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 | Trend | 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 | Trend | 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 | — | — | — |
Filings
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Frequently asked questions
What is AVAX ONE TECHNOLOGY LTD.'s CIK number?
AVAX ONE TECHNOLOGY LTD.'s SEC CIK number is 0001826397 (1826397). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find AVAX ONE TECHNOLOGY LTD.'s SEC filings?
All of AVAX ONE TECHNOLOGY LTD.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.