Revenue and Financial Performance - Revenue for the three months ended September 30, 2025, was $0, consistent with the same period in 2024, primarily derived from the PURE EP™ Platform and related services [267]. - Revenue for the nine months ended September 30, 2025, was $0, down from $27 in the same period of 2024 [275]. - Net loss attributable to common shareholders for the three months ended September 30, 2025, was $15,586 compared to a net loss of $1,940 for the same period in 2024 [274]. - Net loss attributable to common shareholders for the nine months ended September 30, 2025, was $38,774 compared to a net loss of $9,395 for the same period in 2024 [283]. Expenses - Research and development expenses for the three months ended September 30, 2025, were $6, a decrease of $150, or 96%, from $156 in the same period of 2024 [268]. - General and administrative expenses for the three months ended September 30, 2025, were $4,619, an increase of $1,856 or 67% from $2,763 in the prior year [269]. - Depreciation and amortization expense for the three months ended September 30, 2025, totaled $1,488, an increase of $1,457, or 4700%, over the expense of $31 in the same period of 2024 [270]. - Research and development expenses for the nine months ended September 30, 2025, were $31, a decrease of $705, or 96%, from $736 in the prior year [276]. - General and administrative expenses for the nine months ended September 30, 2025, were $27,365, an increase of $16,806 or 159% from $10,559 in the same period of 2024 [277]. Capital and Financing - As of September 30, 2025, the company had a working capital deficit of approximately $111 million and cash of $11.0 million [284]. - The company entered into a Secured Convertible Debenture Purchase Agreement allowing for up to $100 million in secured convertible debentures, with the first closing resulting in a $25 million issuance [290]. - A public offering completed on August 15, 2025, generated gross proceeds of approximately $15 million from the sale of 3,852,149 shares at a price of $3.90 per share [302]. - For the nine months ended September 30, 2025, the company sold 4,403,166 At The Market Offering Shares at an average price of $0.91 per share, generating net proceeds of approximately $3.88 million [303]. Internal Controls and Compliance - The company has identified material weaknesses in internal controls over financial reporting, including inadequate segregation of duties and ineffective review processes [320]. - Management plans to add sufficient staff and oversight in 2026 to address identified deficiencies in internal controls [323]. - The company identified a material weakness related to ineffective review controls over accounting for business combinations and related financial instruments [326]. - Management plans to implement remediation plans in 2025 to address the identified material weakness [326]. - There have been no changes in internal control over financial reporting that materially negatively affected the company during the last completed fiscal quarter [326]. Legal Proceedings - The company believes that ongoing legal proceedings will not have a material adverse effect on its financial position, results of operations, or liquidity [327]. - No material changes in legal proceedings have occurred since the last quarterly report filed on August 15, 2025 [328]. Future Outlook - The company expects to incur operating losses and negative cash flows until its products achieve sustained commercial success, with initial revenue anticipated from the launch of a tokenized gold financing product currently under development [287]. - The liquidity forecast indicates that delays in product commercialization or capital raising could materially impact the company's ability to continue as a going concern [300]. - As of September 30, 2025, the aggregate stated value of the Series C Preferred Stock was $105 million, with triggering events that may require redemption at the option of the holders [291]. - The fair value of the derivative liability associated with Exchangeable Shares was $115.7 million as of September 30, 2025, with a change of $10.2 million recognized in other income [308].

Core Insights - Streamex Corp. has successfully closed the first $25 million tranche of a planned $50 million financing to support its gold-backed tokenisation strategy and the launch of its GLDY token [2][4][11] - The funding will be used entirely for the acquisition of vaulted physical gold bullion, reinforcing the company's commitment to a gold-backed balance sheet [3][6][9] Financing Details - The financing is structured as secured convertible debentures, with the first tranche closed in July 2025 [3][5] - The remaining $25 million tranche will be released upon meeting specific closing conditions, including regulatory approvals [5][16] - Both tranches share identical terms, indicating strong investor confidence in Streamex's direction [6] Business Model and Strategy - Streamex's business model focuses on real-world asset tokenisation, converting physical commodities into regulated, yield-bearing blockchain products [7][8] - The company aims to build a gold-denominated treasury to provide stability against fiat currency volatility [8][14] - The GLDY token will allow investors to hold blockchain-based representations of vaulted gold, enhancing transparency and accessibility [7][12] Market Context - There is a growing interest in hard assets, with analysts predicting continued increases in gold prices, supporting Streamex's strategy [11] - The shift towards regulated, asset-backed blockchain instruments aligns with broader trends in finance, positioning Streamex favorably in the tokenisation economy [12][16] Institutional Collaboration - The financing was facilitated by prominent partners, including Cantor, Clear Street, and Needham & Company, with CIBC World Markets providing strategic advisory [15][16] - This collaboration reflects increasing mainstream engagement with asset tokenisation and positions Streamex at the forefront of digital asset adoption [16] Future Outlook - The company plans to finalize regulatory processes to unlock the second tranche and scale its GLDY platform [16] - CEO Henry McPhie emphasizes the combination of stability and innovation in bridging physical assets with digital utility, aiming to establish Streamex as a global hub for tokenised commodities [17]

Company Overview - BioSig Technologies, Inc. has merged with Streamex Exchange Corporation and will change its name to Streamex Corp. effective September 12, 2025 [1] - The trading symbol will change to "STEX" on the Nasdaq Capital Market [1][2] - BioSig Technologies is a medical device technology company focused on advanced digital signal processing for cardiovascular treatments [4] - Streamex is a Real World Asset tokenization company that aims to bring gold and commodities markets on-chain [3] Corporate Actions - All stock trading and market-related information will be reported under the new symbol "STEX" starting September 12, 2025 [2] - The CUSIP number will remain unchanged, and no action is required from shareholders regarding the symbol change [2]

Core Insights - Monetary Metals has entered into a partnership with Streamex to provide yield on physical gold bullion, with a near-term lease capacity exceeding $1 billion USD [1][2] - The collaboration aims to create a unique asset that combines the security of physical gold with the productivity of real-world yield, targeting global markets [3][4] Company Overview - Monetary Metals specializes in gold-and-silver-denominated fixed income products and has been offering a yield on gold since 2016 through its Gold Yield Marketplace [4] - Streamex is focused on RWA (Real World Asset) tokenization, aiming to modernize the commodities market with institutional-grade infrastructure [5] Strategic Implications - The partnership is expected to enhance gold liquidity and flexibility as a financial solution, positioning gold as a productive asset that generates income [4] - Streamex's tokenization technology will enable the creation and distribution of yield-bearing digital assets, financed by real-world gold businesses [3]

Core Insights - The partnership between BioSig Technologies and Monetary Metals aims to launch a new gold product that targets a yield of up to 4% on physical bullion [1][2][9] - Streamex will have exclusive rights to tokenize yield-bearing gold products, while Monetary Metals will provide access to its leasing and bond programs [2][3] - This collaboration is positioned as a significant advancement in integrating traditional gold markets with digital assets, creating scalable, institutional-grade instruments [3][5] Company Overview - BioSig Technologies, Inc. has merged with Streamex Exchange Corporation, focusing on tokenization and treasury platforms for gold products [1][6] - Streamex is dedicated to building institutional-grade infrastructure for the gold and commodities market, leveraging tokenization technology [6] - Monetary Metals specializes in offering yield on gold and financing solutions for businesses in the gold sector, having established a marketplace for gold yield since 2016 [7] Partnership Structure - The agreement designates Streamex as the exclusive tokenization partner for Monetary Metals for a minimum of three years, facilitating the creation of yield-bearing digital assets [3][4] - Streamex will receive a revenue share based on leasing volumes from Monetary Metals, aligning interests for significant scalability [4][9] - The partnership aims to unlock gold's utility by financing real-world businesses and generating yield, enhancing gold's role in global finance [5]

Group 1 - BioSig Technologies, Inc. has provided an update regarding the status of its merger with Streamex Exchange Corporation, indicating that the acquisition proposal will be adjourned pending final NASDAQ approval [1][3] - The merger transaction was officially closed on May 28, 2025, with 19.99% of BioSig shares already issuable to Streamex shareholders, while the remaining shares await NASDAQ approval [2][4] - The Board of Directors has decided to postpone Proposal No. 1 (the Acquisition Proposal) to a later date due to the pending NASDAQ approval, but all other proposals will proceed as planned at the Special Meeting on September 5, 2025 [3][4] Group 2 - Streamex is a company focused on RWA tokenization, aiming to create institutional-grade infrastructure for the gold and commodities market, supported by a gold-denominated treasury and tokenization technology [5] - BioSig Technologies specializes in medical device technology, particularly with its PURE EP™ Platform, which provides insights for electrophysiologists in the treatment of cardiovascular arrhythmias [6]

Group 1 - BioSig Technologies, Inc. has merged with Streamex Exchange Corporation, focusing on gold tokenization infrastructure for on-chain gold markets [1] - The company will participate in the 5th annual Needham Virtual Crypto 1x1 Conference on September 4, 2025, where its CEO and CIO will hold one-on-one meetings with institutional investors [1] - Streamex aims to build institutional-grade infrastructure for the gold market, supported by a gold-denominated treasury and tokenization technology [2] Group 2 - BioSig Technologies specializes in medical device technology, particularly with its PURE EP™ Platform that provides insights for electrophysiologists in treating cardiovascular arrhythmias [3]

Core Viewpoint - BioSig, initially focused on cardiac arrhythmia surgery signal processing, has shifted its narrative from medical technology to blockchain and gold assets due to slow progress in its core business and the need for new capital market stories [3][12][24]. Group 1: BioSig's Medical Device Business - PURE EP™ Platform - BioSig was founded in 2009 and aimed to address signal interference in cardiac ablation procedures, which is a long-standing issue for electrophysiologists [3][5]. - The PURE EP™ platform was designed to enhance cardiac electrical signals in real-time, helping doctors to accurately locate ablation points [3]. - The company went public on NASDAQ in 2018, not due to profitability but because it presented a compelling "technology + clinical value" narrative [5][6]. - Despite entering some U.S. hospitals and gaining reimbursement pathways from Medicare in 2021, BioSig's revenue remained low, with projections of less than $1 million in 2024 [9][14]. - The lack of a comprehensive ecosystem and competition from larger companies hindered BioSig's ability to scale its business [10][24]. Group 2: Reasons for Diversification into Gold and Blockchain - The slow advancement of the PURE EP™ platform and limited market size prompted BioSig to seek new opportunities [13][14]. - The capital market's declining interest in single-function devices led to stagnant stock prices, necessitating a new narrative [15][18]. - The rise of blockchain and real-world asset (RWA) platforms in 2024-2025 presented a timely opportunity for BioSig to pivot [16][17]. - BioSig's recent $15 million fundraising was aimed at acquiring gold reserves and supporting its subsidiary Streamex's blockchain initiatives, marking a significant shift in its business focus [12][21]. Group 3: Industry Insights and Implications - BioSig's journey illustrates the challenges faced by medical device companies that lack a clear commercialization path, emphasizing that a compelling technology story alone is insufficient for long-term survival [23][24]. - The transition to a new narrative through a merger with Streamex reflects a strategic move to maintain the value of its public listing amid dwindling revenues [24][27]. - The case of BioSig serves as a cautionary tale for investors, highlighting the importance of product ecosystems and market barriers over mere public company status [24][27].

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section presents the company's unaudited financial statements and management's discussion for the quarter ended June 30, 2025 [Financial Statements](index=4&type=section&id=ITEM%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for Q2 2025, reflecting the Streamex acquisition's impact [Condensed Consolidated Balance Sheet Highlights (in thousands)](index=4&type=table) | Account | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Cash | $2,820 | $142 | +$2,678 | | Total current assets | $3,001 | $344 | +$2,657 | | Intangible assets, net | $47,917 | $269 | +$47,648 | | Goodwill | $58,692 | $0 | +$58,692 | | **Total assets** | **$109,721** | **$842** | **+$108,879** | | **Liabilities & Equity** | | | | | Accounts payable and accrued expenses | $7,572 | $2,052 | +$5,520 | | Derivative liability | $105,498 | $0 | +$105,498 | | **Total liabilities** | **$113,200** | **$2,264** | **+$110,936** | | Total stockholders' deficit | ($3,584) | ($1,527) | -$2,057 | [Condensed Consolidated Statements of Operations Highlights (in thousands, except per share data)](index=4&type=table) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $0 | $13 | $0 | $27 | | Research and development | $19 | $342 | $25 | $580 | | General and administrative | $19,792 | $4,914 | $22,748 | $7,796 | | Loss from operations | ($20,365) | ($5,292) | ($23,350) | ($8,729) | | **Net loss attributable to BioSig** | **($20,372)** | **($3,915)** | **($23,185)** | **($7,317)** | | Net loss per share | ($0.74) | ($0.30) | ($0.95) | ($0.65) | [Condensed Consolidated Statements of Cash Flows Highlights (Six Months Ended June 30, in thousands)](index=4&type=table) | Cash Flow Category | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($2,393) | ($2,795) | | Net cash provided by investing activities | $366 | $0 | | Net cash provided by financing activities | $4,700 | $4,709 | | **Net increase in cash** | **$2,678** | **$1,914** | [Note 1: Nature of Operations](index=10&type=section&id=Note%201%20%E2%80%93%20NATURE%20OF%20OPERATIONS) BioSig Technologies diversified its medical device operations by acquiring Streamex Exchange Corporation, a software company - The company's core business is its PURE EP™ platform, an advanced digital signal processing technology for electrophysiologists treating cardiovascular arrhythmias[19](index=19&type=chunk)[20](index=20&type=chunk) - On May 28, 2025, BioSig completed the acquisition of Streamex Exchange Corporation, a software company building digital tools for commodity trading and finance[21](index=21&type=chunk) - BioSig holds majority ownership in subsidiaries ViralClear Pharmaceuticals, Inc. (**69.74%**) and BioSig AI Sciences, Inc. (**84.5%**) as of June 30, 2025[23](index=23&type=chunk)[24](index=24&type=chunk) [Note 2: Going Concern and Management's Liquidity Plans](index=11&type=section&id=NOTE%202%20%E2%80%93%20GOING%20CONCERN%20AND%20MANAGEMENT%27S%20LIQUIDITY%20PLANS) The company's financial condition raises substantial doubt about its ability to continue as a going concern due to liquidity - As of June 30, 2025, the company had **$2.8 million** in cash and a working capital deficit of **$110 million**, with net cash used in operations of **$2.4 million** for the first six months of the year[27](index=27&type=chunk) - These conditions create a liquidity concern and raise **substantial doubt** about the company's ability to continue as a going concern[27](index=27&type=chunk) - The company has historically funded operations through equity and debt issuance and expects to require **additional financing** for the foreseeable future[28](index=28&type=chunk)[29](index=29&type=chunk) [Note 13: Business Acquisition](index=39&type=section&id=NOTE%2013%20%E2%80%93%20BUSINESS%20ACQUISITION) BioSig acquired Streamex Exchange Corporation for $105.7 million, recognizing significant goodwill and intangible assets - The acquisition of Streamex was completed on **May 28, 2025**, with the goal of expanding into digital commodity trading and blockchain-based financial technologies[163](index=163&type=chunk)[166](index=166&type=chunk) [Preliminary Purchase Price Allocation (in thousands)](index=39&type=table) | Account | Amount | | :--- | :--- | | **Assets Acquired** | | | Cash | $366 | | Trade name | $5,100 | | Developed technology | $40,000 | | Legal and compliance framework | $2,400 | | Goodwill | $57,847 | | Other assets | $47 | | **Total assets acquired** | **$105,760** | | **Liabilities Assumed** | | | Accounts payable and accrued expenses | ($262) | | **Net assets acquired** | **$105,498** | - The company incurred **$7.1 million** in acquisition-related costs, which were expensed in the period and included legal, accounting, consulting, and finder's fees[169](index=169&type=chunk)[172](index=172&type=chunk) [Note 17: Subsequent Events](index=49&type=section&id=NOTE%2017%20%E2%80%93%20SUBSEQUENT%20EVENTS) Post-quarter, BioSig secured significant financing, including a $100M debenture and a $1B equity agreement - On July 7, 2025, the company entered into a purchase agreement for up to **$100 million** in senior secured convertible debentures with Yorkville[214](index=214&type=chunk)[215](index=215&type=chunk) - Also on July 7, 2025, the company entered into a Standby Equity Purchase Agreement (SEPA) allowing it to sell up to **$1 billion** of its common stock over a 36-month period[216](index=216&type=chunk) - On August 15, 2025, the company completed a public offering of common stock, generating gross proceeds of approximately **$15.0 million**[221](index=221&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=51&type=section&id=ITEM%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses business transformation and financial results, highlighting increased net loss and liquidity [Business Overview](index=51&type=section&id=Business%20Overview) The company's business now focuses on its PURE EP™ Platform and the newly acquired Streamex digital asset platform - The company's strategic focus has expanded to include digital infrastructure for tokenizing and exchanging real-world assets (RWAs) through the acquisition of Streamex, which is currently pre-revenue and in the development stage[229](index=229&type=chunk)[230](index=230&type=chunk) - In its medical device segment, BioSig has shifted focus from commercial hardware distribution to the R&D of proprietary software algorithms, aiming to improve pulsed field ablation (PFA) outcomes[228](index=228&type=chunk) [Results of Operations](index=52&type=section&id=Results%20of%20Operations) Q2 2025 revenue was zero, with net loss increasing to $20.4 million due to acquisition-related G&A expenses [Comparison of Operating Results (Three Months Ended June 30, in thousands)](index=52&type=table) | Expense Category | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | $0 | $13 | -100% | | Research and Development | $19 | $342 | -94% | | General and Administrative | $19,792 | $4,914 | +303% | | **Net Loss Attributable to Common Shareholders** | **$20,374** | **$3,918** | **+420%** | - The surge in G&A expenses was mainly due to costs associated with the Streamex acquisition, including **$12.1 million** in stock-based compensation and a **$6.0 million** finder's fee[235](index=235&type=chunk) - R&D expenses fell sharply as the company prioritized efforts and resources toward closing the Streamex acquisition, temporarily pausing or scaling back certain R&D initiatives[234](index=234&type=chunk) [Liquidity and Capital Resources and Going Concern](index=54&type=section&id=Liquidity%20and%20Capital%20Resources%20and%20Going%20Concern) The company faces significant liquidity challenges with a $110M working capital deficit, necessitating additional financing - As of June 30, 2025, the company had a working capital deficit of **$110 million** and insufficient cash to fund operations for the next 12 months, raising **substantial doubt** about its ability to continue as a going concern[253](index=253&type=chunk)[255](index=255&type=chunk) - Management's plan to address liquidity includes exploring equity offerings, strategic partnerships, and debt financing[257](index=257&type=chunk)[258](index=258&type=chunk) - Post-quarter financing activities include a potential **$100 million** convertible debenture, a **$1 billion** standby equity purchase agreement (SEPA), and a completed public offering in August 2025 that raised approximately **$13.62 million** in net proceeds[260](index=260&type=chunk)[270](index=270&type=chunk) [Critical Accounting Estimates](index=57&type=section&id=Critical%20Accounting%20Estimates) Management identifies critical accounting estimates for derivative liability valuation and preliminary purchase price allocation - **Valuation of Exchangeable Shares (Derivative Liability):** The fair value is estimated using a discounted cash flow (DCF) model with significant unobservable (Level 3) inputs, making it highly sensitive to assumptions about Streamex's future performance and the outcome of a required shareholder vote[274](index=274&type=chunk)[275](index=275&type=chunk)[277](index=277&type=chunk) - **Purchase Price Allocation (PPA) for Streamex Acquisition:** The allocation of the purchase price to intangible assets and goodwill is preliminary and involves significant judgment. It uses Level 3 valuation techniques and is subject to change, which could materially impact goodwill and future amortization expense[278](index=278&type=chunk)[279](index=279&type=chunk)[280](index=280&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=59&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) As a smaller reporting company, BioSig Technologies, Inc. is exempt from these market risk disclosures - The company is exempt from this disclosure requirement due to its status as a **smaller reporting company**[282](index=282&type=chunk) [Controls and Procedures](index=59&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were ineffective due to material weaknesses in internal financial reporting controls - Management concluded that disclosure controls and procedures are **not effective** at a reasonable assurance level[283](index=283&type=chunk) - Material weaknesses were identified in internal controls related to: (i) stock-based compensation, (ii) period-end financial reporting review, (iii) segregation of duties, and (iv) accounting for business combinations[286](index=286&type=chunk) - Management intends to implement a remediation plan in 2025, which includes adding sufficient staff and oversight to provide adequate accounting segregation[289](index=289&type=chunk) [PART II. OTHER INFORMATION](index=60&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section details legal proceedings, risk factors, unregistered equity sales, and exhibits, supplementing financial information [Legal Proceedings](index=60&type=section&id=ITEM%201.%20Legal%20Proceedings) No material changes occurred in legal proceedings during the quarter, with no expected material adverse financial impact - No **material changes** in legal proceedings occurred during the quarter ended June 30, 2025[294](index=294&type=chunk) [Risk Factors](index=60&type=section&id=ITEM%201A.%20Risk%20Factors) Investors should review risk factors detailed in the company's previously filed 10-K, 8-K/A, and Schedule 14A - The company refers to risk factors detailed in its **10-K**, a recent **8-K/A**, and a **Schedule 14A** filing for a comprehensive understanding of potential risks[295](index=295&type=chunk) [Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=61&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company issued common stock in unregistered transactions for services, RSU vesting, and warrant exercises - On April 24, 2025, the company issued **2,750,000 shares** of common stock to consultants for services[297](index=297&type=chunk) - On May 28, 2025, **1,062,500 shares** were issued to the company's former CEO, Anthony Amato, upon the vesting of RSUs[297](index=297&type=chunk) - The company also issued numerous smaller tranches of stock throughout the quarter for RSU vesting and cashless warrant exercises[297](index=297&type=chunk) [Exhibits](index=62&type=section&id=ITEM%206.%20Exhibits) Key exhibits include the Streamex Share Purchase Agreement and officer certifications required by Sarbanes-Oxley Act - Key exhibits filed include the **Share Purchase Agreement** with Streamex Exchange Corporation and related transaction documents[301](index=301&type=chunk) - Certifications from the Chief Executive Officer and Chief Financial Officer pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act are also included as exhibits[301](index=301&type=chunk)

Core Viewpoint - BioSig Technologies, Inc. has successfully closed an underwritten public offering to support its merger with Streamex Exchange Corporation, focusing on gold tokenization infrastructure [1][2][3]. Group 1: Offering Details - The offering included 3,852,149 shares of common stock priced at $3.90 per share, generating gross proceeds of approximately $15,023,381 before expenses [2]. - The net proceeds will be utilized for purchasing gold bullion, general corporate purposes, and working capital [2]. Group 2: Strategic Intent - The CEO of BioSig emphasized the importance of aligning short and long-term capital strategies with high-quality shareholders to enhance shareholder value [3]. - The company aims to establish itself as a leader in the gold bullion-based real-world asset space, leveraging the recent capital raise [3]. Group 3: Company Background - Streamex is focused on building institutional-grade infrastructure for gold tokenization, supported by a gold-denominated treasury [6]. - BioSig Technologies is a medical device company known for its PURE EP™ Platform, which aids electrophysiologists in treating cardiovascular arrhythmias [7][8].