Balencic added, As promised, this is a clean, equity-only raise. No new debt, no dilution beyond whats been disclosed. Were raising efficiently, deploying with precision, and staying fully aligned with shareholders.
Balance-sheet position and financial update
The Company also expects to file its Q3 2025 financial report this week, which management anticipates will reflect the elimination of more than $2 million in legacy convertible debt, an approximately 85 percent reduction in total liabilities, and a return to positive shareholders equity for the first time in several years. These improvements follow structural actions completed in July that removed toxic financing instruments, cancelled more than 235 million unsupported or non-beneficial shares, and restored long-term balance-sheet integrity.
Weve built a foundation that can scale responsibly, said Balencic. By eliminating toxic debt, tightening the share structure, and restoring positive equity, weve set the stage for sustainable growth and meaningful long-term value creation.
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