Subsequent events |
6 Months Ended |
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Jan. 31, 2026 | |
| Subsequent events [Abstract] | |
| Subsequent events |
18.
Subsequent events
Debt conversion side letter with Helena I
On February 10, 2026, the Company and Helena I entered into a side letter in relation to the Crypto Strategy Convertible Debt (Note 10), wherein Helena I commits to convert at least $9,000,000 of the aggregate outstanding principal and/or accrued interest into common shares of the Company on or before May 10, 2026, subject to no events of default by the Company, and the Company being in material compliance with all covenants and obligations under the securities purchase agreement in relation to the Crypto Strategy Convertible Debt, the ELOC Agreement (Note 8) and all other transaction documents between the Company and Helena I. The Company shall issue a convertible promissory note for the amount of $250,000 in the same form as the Crypto Strategy Convertible Debt as consideration for entering into this agreement.
Nasdaq Continued Listing Requirements
On November 18, 2025, the Company received a notification letter from the Listing Qualifications Department of Nasdaq notifying the Company that its net income from continuing operations had fallen below the minimum requirement for continued listing on the Nasdaq Capital Market (the “Minimum Net Income Requirement”) and that the Company does not meet the alternatives of market value of listed securities or stockholders’ equity (collectively with the Minimum Net Income Requirement, the “Continued Listing Standards”). On February 23, 2026, the Company received a letter from the Listing Qualifications Department of Nasdaq notifying the Company that the Nasdaq Staff had granted the Company an extension until May 18, 2026 to regain compliance with the Continued Listing Standards.
Issuance of shares On March 12, 2026,
the Company issued 454,670 shares pursuant to a conversion of $330,000 of
principal of the Crypto Strategy Convertible Debt (Note 10) at a price of
$0.7258 per share for a conversion notice received on March 4, 2026 from Helena
I.
These transactions occurred after the balance sheet date and do not relate to conditions existing as of January 31, 2026. Accordingly, no adjustments have been made to the accompanying financial statements.
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