FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38105 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 ETHZilla Corporation (Exact name of registrant as specified in its charter) | Delaware | 90-1890354 | | --- | --- | | ( ...

Financial Performance - ETHZilla generated $4.1 million in revenue during the first six weeks of operation as ETHZilla, with a gross profit of $4.1 million[1][5] - The company reported a net loss from continuing operations of $208.7 million, primarily due to one-time non-cash items[7] - Adjusted EBITDA for the quarter was $8.5 million, indicating positive operational performance despite the net loss[7] - For the nine months ended September 30, 2025, the net loss was $212,008, compared to a net loss of $1,659 for the same period in 2024[16] - EBITDA for the nine months ended September 30, 2025, was $(211,688), while Adjusted EBITDA was $5,810, compared to $(1,630) and $(1,355) respectively for the same period in 2024[17] - The company reported net cash used in operating activities of $(18,419) for the nine months ended September 30, 2025, compared to $(546) for the same period in 2024[16] - Cash flows from investing activities totaled $(252,370) for the nine months ended September 30, 2025, with purchases of digital assets amounting to $(243,480)[16] - Net cash provided by financing activities was $825,123 for the nine months ended September 30, 2025, compared to $(1,010) for the same period in 2024[16] - The company ended the period with cash, cash equivalents, and restricted cash totaling $558,901, up from $150 at the end of the same period in 2024[16] - Stock-based compensation expense for the nine months ended September 30, 2025, was $208,923, compared to $275 for the same period in 2024[17] Capital and Investments - The company secured approximately $931 million in institutional capital through various financings, including a $425 million PIPE and a $360 million convertible note[3] - A strategic partnership with Liquidity.io was established, including a $15 million investment and a 15% equity stake in Satschel, Inc., aimed at tokenizing high-value real-world assets[3] - A share repurchase program was initiated, with 2,099,472 shares repurchased for $46.3 million under a $250 million authorization[6] - The company plans to continue opportunistic share repurchases and expects revenue-generating real-world assets on-chain in the coming weeks[6] - The company plans to continue purchasing ETH over time as part of its digital asset treasury strategy[25] Asset Management - ETHZilla's ETH holdings amounted to 102,273 ETH, valued at $424 million, with 70% of ETH deployed in staking protocols[8] - The company anticipates positive adjusted EBITDA in the fourth quarter and expects L2 protocol yield to range between 3.5% and 4.5%[6] - ETHZilla aims to lead the tokenization of global assets, positioning itself as a first mover in the multi-trillion-dollar tokenized asset economy[2] Risks and Projections - The financial projections are based on numerous assumptions and are subject to significant uncertainties, which may materially impact actual results[23] - Forward-looking statements indicate potential risks including fluctuations in the market price of ETH and regulatory changes affecting the cryptocurrency market[25]

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38105 180 LIFE SCIENCES CORP (Exact name of registrant as specified in its charter) | Delaware | 90-1890354 | | --- | --- | | (Sta ...

Financial Position - As of March 31, 2025, the company reported an accumulated deficit of $143,892,576 and working capital of $86,956[172]. - Current cash balance is expected to fund operations only until December 2025 without additional capital[175]. - The company has no credit facility or committed sources of capital, indicating potential liquidity challenges[215]. Operating Performance - For the three months ended March 31, 2025, the company incurred a net loss of $2,369,232 and cash used in operating activities was $853,723[172]. - Net loss increased by $1,299,488 or 121%, from $1,069,744 in Q1 2024 to $2,369,232 in Q1 2025[209]. - Cash used in operating activities was $853,723 in Q1 2025 compared to $1,033,417 in Q1 2024[211]. - Total other income decreased by $1,018,988 or 100%, from $1,022,724 in Q1 2024 to $3,736 in Q1 2025[208]. Capital Requirements - The company has a minimum monthly cash requirement of approximately $252,000[174]. - The company anticipates needing significant additional capital to operationalize its Gaming Technology Platform and cover operating costs[174]. - The company has raised capital multiple times between July 2022 and December 2024 but faces uncertainty in raising future funds[172]. - The company raised approximately $2.7 million in April 2023 and expects to continue as a going concern through December 2025[216]. - The company intends to use net proceeds of approximately $2.6 million from a recent offering for working capital and general corporate purposes[226]. Business Development - The company is focused on developing and commercializing its iGaming casino and biotechnology products, facing regulatory and operational challenges[160]. - The Company plans to enter the online gaming industry by utilizing a newly acquired "back-end" gaming platform that incorporates blockchain technology and cryptocurrency operability[179]. - The acquisition of the gaming platform was completed on September 30, 2024, involving 1,000,000 shares of Series B Convertible Preferred Stock and warrants for 3,000,000 shares of common stock[180]. - The Company has identified potential acquisition opportunities in the iGaming industry, although no specific targets currently exist[181]. Research and Development - Research and development costs for the iGaming sector will depend on the commercial potential of the proposed online casino and industry dynamics[195]. - Research and development expenses decreased by $124,281 or 34%, from $365,186 in Q1 2024 to $240,905 in Q1 2025[205]. - Research and development expenses related to parties decreased by $35,087 or 21%, from $170,542 in Q1 2024 to $135,455 in Q1 2025[206]. - The Company has terminated its license agreement with Stanford University for the α7nAChR platform, shifting focus to monetizing existing life science assets[188]. Administrative Expenses - General and administrative expenses are expected to increase significantly to support ongoing research and development and the launch of commercial iGaming operations[199]. - General and administrative expenses increased by $439,868 or 28%, from $1,556,740 in Q1 2024 to $1,996,608 in Q1 2025[207]. Risks and Challenges - The company is subject to risks associated with the development of new business in a competitive industry and may not achieve profitable operations[173]. - The company has experienced liquidity issues and may need to issue equity to fund operations and repay debt[175]. - The company relies on third parties for clinical trials and manufacturing, which may affect its ability to generate revenues[160]. - Changes in fair value of derivative liabilities during the reporting period were driven by increases in stock price, affecting the underlying liability's fair value[203]. - The company recognized an impairment loss of $1,526,542 for its licensed R&D patents and related technology assets due to a strategic shift towards blockchain casino technology assets acquired in September 2024[228]. - Management believes that recently issued accounting pronouncements will not have a material effect on the company's unaudited condensed consolidated financial statements[229]. - The company is classified as a "smaller reporting company" and is not required to provide certain market risk disclosures[230].