U
USBC, Inc.
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 financial technology company developing a tokenized deposit platform that represents U.S. dollar bank deposits on blockchain technology, embedded with digital identity and compliance frameworks. The company offers USBC tokenized deposits in partnership with Vast Bank (issuing bank) and Uphold (distribution platform), designed for retail customers, fintech partners, and institutional counterparties. USBC holds Bitcoin as its primary treasury asset and employs a yield-generation strategy through options derivatives; it also maintains a legacy non-invasive sensor business under divestiture review.
Summary from 10-K filed 2026-03-25
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | 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 | Trend | 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 | Trend | 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 | — | — | — |
Filings
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Frequently asked questions
What is USBC, Inc.'s CIK number?
USBC, Inc.'s SEC CIK number is 0001074828 (1074828). 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 USBC, Inc.'s SEC filings?
All of USBC, Inc.'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.