$STEX
Streamex Corp.
CIK:0001530766|SEC Filings
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands |
6 Months Ended | |
|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | $ (61,245) | $ (23,169) |
| Adjustments to reconcile net loss to cash used in operating activities: | ||
| Depreciation and amortization | 2,963 | 577 |
| Amortization of debt discount and issuance costs | 11,979 | |
| Gain on settlement and extinguishment of accounts payable | (196) | |
| Realized gain on sale of gold | (2,938) | |
| Non-cash lease income settled in gold | (88) | |
| Realized gain on marketable securities | (377) | |
| Change in fair value of marketable securities | 119 | |
| Change in fair value of embedded derivative | (497) | |
| Realized loss on extinguishment of convertible debenture | 3,057 | |
| Realized loss on investment | 119 | |
| Unrealized loss on investment measured at NAV | 172 | |
| Allowance for credit losses on accounts receivable | 109 | |
| Foreign currency transaction gain | (165) | |
| Stock-based compensation expense | 32,487 | 14,194 |
| Deferred income taxes | (1,070) | |
| Changes in operating assets and liabilities: | ||
| Gold-denominated receivable | (54) | |
| Purchases of digital assets - USDC | (7,001) | |
| Prepaid expenses and other assets | 1,192 | (35) |
| Accounts payable and accrued expenses | (572) | 6,132 |
| Operating lease right-of-use assets and lease liabilities, net | 1 | (5) |
| Net cash used in operating activities | (21,918) | (2,393) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of marketable securities | (23,900) | |
| Purchase of investment measured at NAV | ||
| Proceeds from the sale of marketable securities | 21,003 | |
| Proceeds from the sale of non-marketable equity investments | 25 | |
| Proceeds from sale of gold | 26,410 | |
| Purchase of gold held at cost | (14,375) | |
| Business acquisition, net of cash acquired | 366 | |
| Net cash provided by investing activity | 9,163 | 366 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from sale of common stock under at-the-market offerings, net of issuance costs | 3,882 | |
| Proceeds from sale of common stock and warrants, net of issuance costs | 818 | |
| Repayment of finance obligation | (916) | |
| Net proceeds from issuance of common stock in underwritten public offering | 37,184 | |
| Proceeds from issuance of equity in subsidiary to noncontrolling interest holders | 350 | |
| Repayment of convertible debentures | (38,500) | |
| Net cash (used in) provided by financing activities | (1,882) | 4,700 |
| Effect of exchange rate change on cash | (74) | 5 |
| Net (decrease) increase in cash | (14,711) | 2,678 |
| Cash, beginning of the period | 20,316 | 142 |
| Cash, end of the period | 5,605 | 2,820 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid during the period for interest | 403 | |
| Cash paid during the period for income taxes | ||
| Non-cash investing and financing activities: | ||
| Dividend payable on preferred stock charged to additional paid-in-capital | 5 | 5 |
| USDC digital assets received from transfer of ownership interest in Streamex Ltd. to noncontrolling interest holders | 1,000 | |
| Conversion of convertible debentures into common stock | 15,760 | |
| Distributions to noncontrolling interest holders | 5 | |
| Acquisition of assets and liabilities recorded through operating lease | 810 | |
| Recognition of derivative liability as part of business combination (non-cash) | 105,498 | |
| Recognition of assets acquired as part of business combination | 105,394 | |
| Recognition of liabilities assumed as part of business combination | 262 | |
| Common stock issued in settlement of accounts payable and accrued expenses | $ 498 | |
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands |
Jun. 30, 2026 |
Dec. 31, 2025 |
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|---|---|---|---|---|---|
| Current assets: | |||||
| Cash | $ 5,605 | $ 20,316 | |||
| Digital assets | 6,001 | ||||
| Marketable securities | 12,861 | 9,706 | |||
| Gold-denominated receivable | 54 | ||||
| Prepaid expenses and other assets | 8,202 | 17,401 | |||
| Investment measured at NAV | 1,828 | ||||
| Total current assets | 34,551 | 71,895 | |||
| Non-current assets: | |||||
| Other assets held at cost – gold | 15,464 | ||||
| Intangible assets, net | 40,242 | 44,639 | |||
| Goodwill | 68,521 | 70,984 | [1] | ||
| Operating lease right-of-use asset | 799 | ||||
| Property and equipment, net | 7 | 25 | |||
| Total non-current assets | 125,033 | 115,648 | |||
| Total assets | 159,584 | 187,543 | |||
| Current liabilities: | |||||
| Accounts payable and accrued expenses | 1,455 | 2,952 | |||
| Lease liability, short term | 129 | ||||
| Dividends payable | 126 | 121 | |||
| Convertible debentures | 38,021 | ||||
| Embedded derivative liability | 1,700 | ||||
| Total current liabilities | 1,710 | 42,794 | |||
| Non-current liabilities | |||||
| Lease liability, long term | 671 | ||||
| Deferred tax liability | 9,987 | 11,421 | |||
| Total liabilities | 12,368 | 54,215 | |||
| Commitments and contingencies (Note 19) | |||||
| Mezzanine equity | |||||
| Redeemable Series C 9% Convertible Preferred Stock, $0.001 par value, $1,000 stated value, authorized 4,200 shares, 105 shares issued and outstanding; (liquidation preference of $105; cumulative dividends payable of $126 and $121 as of June 30, 2026 and December 31, 2025, respectively). | 105 | 105 | |||
| Stockholders’ equity: | |||||
| Preferred stock, $0.001 par value, authorized 1,000,000 shares, designated 200 shares of Series A, 600 shares of Series B, 4,200 shares of Series C, 1,400 shares of Series D, 1,000 shares of Series E, 200,000 shares of Series F Preferred Stock and 1 Special Voting Preferred Stock. | |||||
| Common stock, $0.001 par value, authorized 500,000,000 shares, 112,622,795 and 49,805,275 issued and outstanding as of June 30, 2026 and December 31, 2025, respectively. | 113 | 50 | |||
| Additional paid-in-capital | 927,834 | 850,447 | |||
| Accumulated other comprehensive (loss) income | (2,968) | 814 | |||
| Accumulated deficit | (779,365) | (718,120) | |||
| Total stockholders’ equity attributable to Streamex Corp. | 145,614 | 133,191 | |||
| Noncontrolling interest | 1,497 | 32 | |||
| Total stockholders’ equity | 147,111 | 133,223 | |||
| Total liabilities, mezzanine equity and stockholders’ equity | 159,584 | 187,543 | |||
| Restricted Gold [Member] | |||||
| Current assets: | |||||
| Other assets held for sale – gold | 23,472 | ||||
| Gold [Member] | |||||
| Current assets: | |||||
| Other assets held for sale – gold | $ 1,000 | ||||
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