Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across various financial markets [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content includes insights across sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

[Filing Information](index=1&type=section&id=Filing%20Information) This section provides essential administrative and identification details regarding the registrant and the nature of the filing [Registrant Details](index=1&type=section&id=Registrant%20Details) This section provides the fundamental identification details of the registrant, T Stamp Inc., including its incorporation state, principal executive offices, and stock market listing information - Registrant Name: **T STAMP INC.**[1](index=1&type=chunk) - State of Incorporation: **Delaware**[1](index=1&type=chunk) - Principal Executive Offices: **3017 Bolling Way NE, Floors 1 and 2, Atlanta, Georgia 30305**[1](index=1&type=chunk) Securities Registered | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | :---------------------------- | :---------------- | :---------------------------------------- | | Class A Common Stock, $0.01 par value per share | IDAI | The NASDAQ Stock Market LLC | [Filing Status](index=1&type=section&id=Filing%20Status) The report indicates the company's status as an emerging growth company under SEC regulations - The registrant is an **emerging growth company**[4](index=4&type=chunk) [Current Report Items](index=2&type=section&id=Current%20Report%20Items) This section details the specific items reported in the current filing, including financial results and accompanying exhibits [Item 2.02 Results of Operations and Financial Condition](index=2&type=section&id=Item%202.02.%20Results%20of%20Operations%20and%20Financial%20Condition.) T Stamp, Inc. announced its financial results for the six months ended June 30, 2025, through a press release issued on August 14, 2025, which is furnished as Exhibit 99.1 to this Form 8-K. The information is furnished, not filed, with the SEC - Announcement Date: **August 14, 2025**[5](index=5&type=chunk) - Reporting Period: **Six months ended June 30, 2025**[5](index=5&type=chunk) - Disclosure Method: **Press release (Exhibit 99.1)**[5](index=5&type=chunk) - Filing Status: Information is **furnished to, and not filed with, the SEC**[6](index=6&type=chunk) [Item 9.01 Financial Statements and Exhibits](index=2&type=section&id=Item%209.01.%20Financial%20Statements%20and%20Exhibits) This section lists the exhibits accompanying the Form 8-K, which include the press release detailing the financial results and the interactive data file Exhibits Filed | Exhibit No. | Description | | :------------ | :---------------------------------------------- | | 99.1 | Press Release of the registrant issued August 14, 2025 | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | [Signatures](index=3&type=section&id=SIGNATURE) This section formally attests to the accuracy and completeness of the report through authorized signatures [Signature Details](index=3&type=section&id=Signature%20Details) The report was formally signed on behalf of T Stamp Inc. by its Chief Executive Officer, Gareth Genner, on August 14, 2025, confirming its compliance with the Securities Exchange Act of 1934 - Signatory: **Gareth Genner, Chief Executive Officer**[10](index=10&type=chunk) - Date of Signature: **August 14, 2025**[10](index=10&type=chunk)

PART I. FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) Unaudited condensed consolidated financial statements and notes for T Stamp Inc. for periods ended June 30, 2025, and December 31, 2024 [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Presents T Stamp Inc.'s condensed consolidated balance sheets as of June 30, 2025, and December 31, 2024 | ASSETS (in USD) | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Cash and cash equivalents | $292,054 | $2,783,321 | | Accounts receivable, net | $812,517 | $332,931 | | Total Current Assets | $1,458,163 | $4,667,300 | | Total Assets | $5,658,750 | $8,599,824 | | LIABILITIES (in USD) | | | | Total Current Liabilities | $1,666,586 | $4,165,845 | | Total Liabilities | $3,051,553 | $5,410,980 | | STOCKHOLDERS' EQUITY (in USD) | | | | Total Stockholders' Equity | $2,607,197 | $3,188,844 | - Total Assets decreased by approximately **$2.94 million** from December 31, 2024, to June 30, 2025, primarily driven by a significant reduction in Cash and cash equivalents and a decrease in Current Portion of Loans Payable[10](index=10&type=chunk) - Total Current Liabilities decreased by approximately **$2.49 million**, largely due to the repayment of the current portion of loans payable[10](index=10&type=chunk) [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) T Stamp Inc.'s condensed consolidated statements of operations for Q2 and H1 2025 versus 2024 | Metric (in USD) | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | Net revenue | $812,667 | $500,395 | $1,358,138 | $1,074,071 | | Total operating expenses | $2,495,272 | $3,125,761 | $5,203,729 | $6,548,695 | | Operating loss | $(1,682,605) | $(2,625,366) | $(3,845,591) | $(5,474,624) | | Net loss | $(1,711,958) | $(2,598,361) | $(3,869,345) | $(5,276,930) | | Basic and diluted net loss per share | $(0.69) | $(3.19) | $(1.57) | $(7.09) | - Net revenue increased by **62.41%** for the three months ended June 30, 2025, and by **26.45%** for the six months ended June 30, 2025, compared to the respective prior periods, primarily due to a new Master Technology Services Agreement with QID[13](index=13&type=chunk)[216](index=216&type=chunk)[231](index=231&type=chunk) - Operating loss decreased significantly by **35.91%** for the three months and **29.76%** for the six months ended June 30, 2025, driven by increased revenue and substantial reductions in Selling, General, and Administrative (SG&A) expenses[13](index=13&type=chunk)[225](index=225&type=chunk)[242](index=242&type=chunk) [Condensed Consolidated Statements of Comprehensive Loss](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) Presents T Stamp Inc.'s condensed consolidated statements of comprehensive loss for Q2 and H1 2025 versus 2024 | Metric (in USD) | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | Net loss | $(1,711,958) | $(2,598,361) | $(3,869,345) | $(5,276,930) | | Foreign currency translation adjustments | $(133,515) | $3,698 | $(175,784) | $35,389 | | Total other comprehensive income (loss) | $(133,515) | $3,698 | $(175,784) | $35,389 | | Comprehensive loss | $(1,845,473) | $(2,594,663) | $(4,045,129) | $(5,241,541) | - The Company experienced a negative foreign currency translation adjustment of **$(133,515)** for the three months and **$(175,784)** for the six months ended June 30, 2025, contrasting with positive adjustments in the prior year periods[17](index=17&type=chunk) [Condensed Consolidated Statements of Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Details T Stamp Inc.'s condensed consolidated statements of stockholders' equity for the six months ended June 30, 2025 | Metric (in USD) | Balance, January 1, 2025 | Balance, June 30, 2025 | | :-------------------------------- | :----------------------- | :--------------------- | | Common Stock Amount | $20,234 | $24,953 | | Additional Paid-In Capital | $64,284,462 | $67,743,225 | | Accumulated Other Comprehensive Income | $181,148 | $5,364 | | Accumulated Deficit | $(61,458,439) | $(65,327,784) | | Total Stockholders' Equity | $3,188,844 | $2,607,197 | - Total Stockholders' Equity decreased from **$3,188,844** at January 1, 2025, to **$2,607,197** at June 30, 2025, primarily due to the net loss attributable to T Stamp Inc. and negative currency translation adjustments, partially offset by proceeds from common stock issuances[24](index=24&type=chunk) - Additional Paid-In Capital increased by over **$3.4 million** during the six months ended June 30, 2025, largely from the issuance of common stock, prefunded warrants, and common stock warrants, net of fees[24](index=24&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Presents T Stamp Inc.'s condensed consolidated statements of cash flows for the six months ended June 30, 2025, and 2024 | Cash Flow Activity (in USD) | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------------------- | :--------------------------- | :--------------------------- | | Net cash flows used in operating activities | $(2,096,553) | $(3,756,928) | | Net cash flows used in investing activities | $(469,010) | $(363,086) | | Net cash flows from financing activities | $126,102 | $1,633,487 | | Net change in cash and cash equivalents | $(2,491,267) | $(2,481,214) | | Cash and cash equivalents, end of period | $292,054 | $659,533 | - Net cash used in operating activities decreased by **44.20%** to **$2.10 million** for the six months ended June 30, 2025, compared to **$3.76 million** in the prior year, primarily due to a lower net loss and adjustments for non-cash items and changes in working capital[27](index=27&type=chunk)[255](index=255&type=chunk) - Net cash flows from financing activities significantly decreased to **$126,102** in 2025 from **$1,633,487** in 2024, despite raising **$3.21 million** from securities issuance, due to the repayment of a **$3.07 million** secured promissory note[27](index=27&type=chunk)[260](index=260&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%

Core Insights - Trust Stamp reported strong growth in customer enrollment and user completions on its SaaS Orchestration Layer, with significant increases in transaction starts and customer completion rates [1][4] Financial Performance - The company filed its Q2 10-Q report for the six months ended June 30, 2025, on August 14, 2025 [4] - Net recognized revenue for Q2 2025 was $0.81 million, a 62% increase from $0.50 million in Q2 2024 [4] - For the six months ended June 30, 2025, net recognized revenue was $1.36 million, a 26% increase from $1.07 million in the same period in 2024 [4] - The company reported a net loss of $1.71 million for Q2 2025, reduced by 34% from $2.60 million in Q2 2024 [4] - Total operating expenses for Q2 2025 were $2.50 million, down 20% from $3.13 million in Q2 2024 [4] Customer Growth and Implementation - A total of 92 financial institutions with over $348 billion in assets have been onboarded via FIS, bringing the total number of customers to 105 [1] - Transaction starts for FIS-related institutions increased by 247% over the six months ending June 30, 2025, with a 179% increase in July compared to the previous month [1]

Core Insights - Trust Stamp has announced a partnership with Neural Payments to combat rising fraud in the peer-to-peer (P2P) payments sector [1][3] - The global P2P payment market is projected to grow from approximately $3.63 trillion in 2023 to about $16.21 trillion by 2034, with a compound annual growth rate of 18.1% from 2025 to 2034 [3] - Approximately 8% of banking customers have reported being victims of P2P scams in the last year, highlighting the urgent need for enhanced security measures [4] Company Overview - Trust Stamp operates a low-code orchestration platform that facilitates robust know-your-customer (KYC) processes for banks [8] - The partnership with Neural Payments aims to provide community banks with the tools necessary to offer secure P2P payment services [7][8] Industry Context - Community banks, which represent about 90% of all banks in the U.S. with nearly 4,500 institutions, are increasingly looking to offer P2P payment services to compete with larger financial institutions and fintech companies [6] - The Independent Community Bankers of America (ICBA) supports community banks through advocacy, education, and innovation, and both Trust Stamp and Neural Payments are graduates of the ICBA ThinkTECH accelerator [6][7] Technology and Security - The KYC process involves customers enrolling using their face and a government-issued photo ID, which is transformed into an irreversibly transformed identity token (IT2) for future comparisons [8] - Customers can approve payments by taking a selfie, which generates a new IT2 that is compared to the original, providing a more secure and user-friendly experience than traditional methods like one-time passcodes [9]

Core Insights - Trust Stamp has partnered with Neural Payments to enhance security in person-to-person (P2P) payments, addressing the rising concern of fraud in the banking sector [1][3] - The global P2P payment market is projected to grow from USD 3.63 trillion in 2025 to USD 16.21 trillion by 2034, with a compound annual growth rate (CAGR) of 18.10% [2] Company Overview - Trust Stamp is a global provider of AI-powered identity services, focusing on reducing fraud and enhancing data privacy across various sectors, including banking and finance [5][6] - Neural Payments offers real-time P2P payment solutions and advanced fraud prevention, serving nearly 80 financial institutions [3] Partnership Details - The integration of Trust Stamp's low-code Orchestration Platform with Neural Payments aims to streamline identity verification processes, utilizing selfie-based reauthentication for payments [1][3] - The partnership is designed to provide financial institutions with tools to mitigate fraud and improve customer experience, aligning with community bank priorities [4] Industry Context - The rise of popular P2P apps has led to increased fraud attempts, with 8% of banking customers reporting being victims of P2P scams in the past year [1][2] - The collaboration between Trust Stamp and Neural Payments is seen as a proactive approach to address the pressing challenges of fraud in the financial sector [4]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across various financial markets [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content includes insights across sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

[Form 8-K Current Report](index=1&type=section&id=Form%208-K%20Current%20Report) [Item 2.02. Results of Operations and Financial Condition](index=2&type=section&id=Item%202.02.%20Results%20of%20Operations%20and%20Financial%20Condition.) T Stamp, Inc. announced its Q1 2025 financial results via a press release furnished as Exhibit 99.1, not filed with the SEC - The company issued a press release on **May 15, 2025**, announcing Q1 2025 results[5](index=5&type=chunk) - Exhibit 99.1, containing the financial information, is furnished to, not filed with, the SEC[6](index=6&type=chunk) [Item 9.01. Financial Statements and Exhibits](index=2&type=section&id=Item%209.01.%20Financial%20Statements%20and%20Exhibits) This section details the exhibits accompanying the Form 8-K, including the financial results press release and interactive data file Exhibits List | Exhibit No. | Description | | :--- | :--- | | 99.1 | Press Release of the registrant issued May 15, 2025 | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | [Signature](index=3&type=section&id=SIGNATURE) The report is formally signed by T Stamp Inc.'s Chief Executive Officer, Gareth Genner - The report was signed by **Gareth Genner**, Chief Executive Officer, on **May 15, 2025**[10](index=10&type=chunk)

[PART I FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents T Stamp Inc.'s unaudited condensed consolidated financial statements for Q1 2025, detailing financial position, performance, and cash flows, with a net loss of **$2.16 million** and significant going concern doubt Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$6,626,032** | **$8,599,824** | | Total Current Assets | $2,540,170 | $4,667,300 | | **Total Liabilities** | **$2,381,414** | **$5,410,980** | | Total Current Liabilities | $1,096,823 | $4,165,845 | | **Total Stockholders' Equity** | **$4,244,618** | **$3,188,844** | Condensed Consolidated Statements of Operations Highlights (Unaudited) | Metric | Three months ended March 31, 2025 | Three months ended March 31, 2024 | | :--- | :--- | :--- | | Net Revenue | $545,471 | $573,676 | | Total Operating Expenses | $2,708,457 | $3,422,934 | | Operating Loss | $(2,162,986) | $(2,849,258) | | **Net Loss** | **$(2,157,387)** | **$(2,678,569)** | | Basic and Diluted Net Loss Per Share | $(0.89) | $(3.97) | Condensed Consolidated Statements of Cash Flows Highlights (Unaudited) | Cash Flow Activity | Three months ended March 31, 2025 | Three months ended March 31, 2024 | | :--- | :--- | :--- | | Net cash flows used in operating activities | $(1,540,477) | $(2,157,635) | | Net cash flows used in investing activities | $(230,298) | $(155,962) | | Net cash flows from financing activities | $125,833 | $(22,498) | | **Net change in cash and cash equivalents** | **$(1,645,669)** | **$(2,324,055)** | | Cash and cash equivalents, end of period | $1,137,652 | $816,692 | - The company's financial statements have been prepared on a going concern basis, but its history of net losses (**$2.16 million** for Q1 2025), net operating cash outflows (**$1.54 million** for Q1 2025), and a significant accumulated deficit (**$63.62 million**) raise substantial doubt about its ability to continue as a going concern for the next twelve months[30](index=30&type=chunk)[31](index=31&type=chunk) - Customer concentration risk is high, with two customers accounting for **79.69%** of total net revenue for the three months ended March 31, 2025[41](index=41&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses strategic shifts, including a new equity distribution agreement and a **$3.5 million** capital raise, alongside a **4.9%** revenue decrease and a **28.3%** SG&A reduction, while highlighting critical liquidity and going concern risks - The company has undertaken a strategic shift to reduce overhead, refocus go-to-market strategies on joint ventures, and expand its IP portfolio, including technologies for cryptographic asset verification and deepfake countermeasures[137](index=137&type=chunk) - In January 2025, the company raised gross proceeds of approximately **$3.5 million** through a securities purchase agreement involving shares and warrants[138](index=138&type=chunk)[152](index=152&type=chunk)[157](index=157&type=chunk) - In February 2025, it entered an Equity Distribution Agreement with Maxim Group LLC to potentially sell up to **$6.2 million** of its common stock[157](index=157&type=chunk) Results of Operations Comparison (Q1 2025 vs. Q1 2024) | Metric | Q1 2025 | Q1 2024 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Net Revenue | $545,471 | $573,676 | $(28,205) | (4.92)% | | SG&A Expense | $1,787,590 | $2,491,693 | $(704,103) | (28.26)% | | Operating Loss | $(2,162,986) | $(2,849,258) | $686,272 | (24.09)% | - The decrease in SG&A was primarily driven by a **$664 thousand** reduction in salaries, stock-based compensation, and payroll costs, resulting from reductions in the sales team and executive departures[193](index=193&type=chunk) - The company's liquidity is critical, with **$1.14 million** in cash as of March 31, 2025[203](index=203&type=chunk)[205](index=205&type=chunk) - Management anticipates needing to raise additional capital within the next six months to fund operations, highlighting a significant going concern risk[206](index=206&type=chunk) Reconciliation of Net Loss to Adjusted EBITDA (Non-GAAP) | | For the three months ended March 31, | | :--- | :--- | :--- | | | 2025 | 2024 | | Net loss | $(2,157,387) | $(2,678,569) | | Add: Other expense | 1,726 | 6,336 | | Less: Other income | (26,361) | (193,114) | | Add: Interest expense, net | 23,595 | 18,549 | | Add: Stock-based compensation | 60,556 | 297,886 | | Add: Change in fair value of warrant liability | (4,559) | (2,460) | | Add: Depreciation and amortization | 182,922 | 184,801 | | **Adjusted EBITDA loss (non-GAAP)** | **$(1,919,508)** | **$(2,366,571)** | [Quantitative and Qualitative Disclosures About Market Risk](index=42&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Price) As a smaller reporting company, T Stamp Inc. is exempt from providing quantitative and qualitative disclosures about market risk - T Stamp Inc. is a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and is therefore not required to provide quantitative and qualitative disclosures about market risk[216](index=216&type=chunk) [Controls and Procedures](index=42&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls were ineffective as of March 31, 2025, due to a material weakness in accounting for complex equity transactions, despite ongoing remediation efforts - The CEO and CFO concluded that the company's disclosure controls and procedures were not effective as of March 31, 2025[218](index=218&type=chunk) - The ineffectiveness is due to a previously identified material weakness in internal controls over the accounting and recording of complex equity transactions[220](index=220&type=chunk) - Management has implemented changes to remediate the material weakness, but these controls have not operated for a sufficient period to conclude that the weakness has been fully remediated[221](index=221&type=chunk)[224](index=224&type=chunk) - Despite the material weakness, management has concluded that the unaudited condensed consolidated financial statements are fairly presented in all material respects[219](index=219&type=chunk) [PART II OTHER INFORMATION](index=44&type=section&id=PART%20II%20OTHER%20INFORMATION) [Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any litigation and is unaware of any pending or threatened legal actions - The Company is not currently involved in any litigation and is not aware of any pending or threatened legal actions[226](index=226&type=chunk) [Risk Factors](index=44&type=section&id=Item%201A.%20Risk%20Factors) This item is not applicable for the current quarterly report - Not applicable[227](index=227&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sale%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section discloses the unregistered sale of equity securities, detailing a January 6, 2025 securities purchase agreement and private placement of warrants, exempt from registration - On January 6, 2025, the company entered into a securities purchase agreement that included a private placement of common stock purchase warrants (Series A and Series B) to an institutional investor[228](index=228&type=chunk) - These warrants were offered pursuant to an exemption from registration under Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D, raising gross proceeds of approximately **$3.50 million**[228](index=228&type=chunk) [Defaults Upon Senior Securities](index=44&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon its senior securities during the reporting period - None[229](index=229&type=chunk) [Mine Safety Disclosures](index=44&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - Not applicable[230](index=230&type=chunk) [Other Information](index=44&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q1 2025 - No directors or officers adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter ended March 31, 2025[231](index=231&type=chunk) [Exhibits](index=45&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance documents, financing agreements, and Sarbanes-Oxley Act certifications - The filing includes certifications from the CEO and CFO pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act[238](index=238&type=chunk) - Numerous agreements related to recent financing activities are included as exhibits, such as the January 2025 Securities Purchase Agreement and related warrant forms[233](index=233&type=chunk)[238](index=238&type=chunk)

Company Overview - Trust Stamp is a global provider of AI-powered services across various sectors including banking, finance, regulatory compliance, government, healthcare, real estate, communications, and humanitarian services [2] - The company operates with a diverse team comprising members from twenty-two nationalities across eight countries [3] Financial Performance - Trust Stamp filed its Q1 10-Q report for the three months ended March 31, 2025, after the Nasdaq market closed on May 15, 2025 [5] - Recognized revenue for Q1 2025 was $545 thousand, a decrease from $574 thousand in Q1 2024, with an additional $197 thousand of revenue fully earned but subject to deferred recognition under ASC 606 [5] - Anticipated revenue from existing contracted customers for FY 2025 is expected to exceed $5.0 million, excluding projected revenue from contracted customers that are not yet revenue-generating [5] Operational Developments - The number of institutional customers registered on the Orchestration Layer platform increased to ninety-four from eighty at the end of Q4 2024, including twelve community banks and two credit unions [1] - Continuing expense reductions for the remainder of 2025 are estimated to yield new savings of $0.18 million per month compared to expenses in 2024 [5] - Estimated cash burn for the remaining nine months of 2025 is projected at an average of $0.24 million per month, which the company believes is covered by cash on hand and an unused $6.1 million "At The Market" equity distribution agreement [5]