Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year 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 000-23554 StoneX Group Inc. (Exact name of registrant as specified in its charter) Delaware 59-2921318 (State or other jurisdiction ...

Financial Performance - For the year ended December 31, 2024, the Company reported a net income of approximately $4.2 million, which included approximately $3.6 million of debt forgiveness and $1.2 million of income from investments held in the Trust Account[371]. - For the three months ended June 30, 2025, the Company incurred a net loss of approximately $6.4 million, primarily due to $5.3 million in non-operating losses from changes in fair value of derivative warrant liabilities[374]. - The Company had a net income of approximately $4.5 million for the year ended December 31, 2023, driven by $5.6 million of income from investments held in the Trust Account[372]. Share Redemptions - A total of 28,119,098 Public Shares were redeemed for approximately $287.7 million at a redemption price of about $10.23 per share during the First Extension[350]. - The Second Extension resulted in the redemption of 1,339,804 Public Shares for an aggregate amount of approximately $14.4 million at a redemption price of about $10.74 per share[351]. - During the Third Extension, 2,372,565 Public Shares were redeemed for approximately $26.2 million at a redemption price of about $11.02 per share[352]. - The Fourth Extension saw the redemption of 2,512,919 Public Shares for approximately $28.9 million at a redemption price of about $11.50 per share[354]. Initial Public Offering - The Initial Public Offering generated gross proceeds of $345.0 million from the sale of 34,500,000 Units at $10.00 per Unit, with offering costs of approximately $19.9 million[344]. - As of the Initial Public Offering, 34,500,000 Class A Ordinary Shares subject to possible redemption were presented at redemption value as temporary equity[387]. Business Combination and Extensions - The Company must complete an Initial Business Combination by March 16, 2026, or face liquidation and redemption of Public Shares[360]. - The Company has until March 16, 2026, to consummate the Proposed Business Combination, with substantial doubt raised about its ability to continue as a going concern if not completed[369]. - The Company entered into a Merger Agreement with Innovative Rocket Technologies Inc. on July 22, 2025, which will result in iRocket becoming an indirect wholly-owned subsidiary of Holdco[347]. Financial Position and Liabilities - As of June 30, 2025, the Company had approximately $0 in its operating bank account and a working capital deficit of approximately $2.9 million[362]. - The Company issued a Convertible Note to the Sponsor allowing borrowing of up to $1.5 million for ongoing expenses related to the business and Initial Business Combination[365]. - The Company had borrowings of $450,000 under the Extension Note as of December 31, 2024, which were later forgiven[364]. Trust Account and Deposits - The Company has made monthly deposits of $165,000 and $75,000 into the Trust Account for extensions, totaling $990,000 and $450,000 respectively[350][351]. - The Company made monthly deposits of approximately $80,055.99 to the Trust Account between March 16, 2024, and September 26, 2024, totaling approximately $480,335.94[367]. Regulatory and Compliance - The Company received notice from the NYSE on March 18, 2024, regarding the suspension of its securities listing due to failure to complete an Initial Business Combination within three years of its IPO[361]. - The company is classified as an "emerging growth company" under the JOBS Act, allowing it to take advantage of certain exemptions from reporting requirements[398]. Accounting and Reporting Standards - The company adopted ASU 2023-07 for the annual period ending December 31, 2024, which improves reportable segment disclosure requirements[393]. - The company adopted ASU 2022-03 on December 31, 2023, which clarifies that a contractual sales restriction is not considered in measuring an equity security at fair value[394]. - The company adopted ASU 2016-13 on January 1, 2023, which requires financial assets measured at amortized cost to be presented at the net amount expected to be collected[395]. Administrative and Other Expenses - The Company agreed to pay the Sponsor $10,000 per month for administrative support services starting from the date its securities were listed on the NYSE[380]. - The company received a waiver of underwriter fees amounting to $6,037,500, with $5,579,875 presented in the consolidated statement of changes in shareholders deficit and $457,625 recognized as a gain on the waiver[383]. Shareholder Equity and Warrants - The company recognizes Public Warrants and Private Placement Warrants as derivative liabilities at fair value, with the fair value of Public Warrants as of December 31, 2023, and 2022 based on observable listed prices[386]. - The company calculates net income per ordinary share by dividing net income by the weighted average shares of ordinary shares outstanding for the respective period[389]. - Diluted net income (loss) per share is the same as basic net income (loss) per share for the years ended December 31, 2024, 2023, and 2022, as the exercise of Warrants is contingent upon future events[391]. Off-Balance Sheet Arrangements - As of June 30, 2025, the company did not have any off-balance sheet arrangements[397].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended August 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EX ...

UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 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: 001-39973 CUENTAS, INC. (Exact name of Registrant as specified in its charter) | | | (Stat ...

UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 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: JUNE 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: 001-39973 CUENTAS, INC. (Exact name of Registrant as specified in its charter) Florida 20-35372 ...

UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 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: MARCH 31, 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: 001-39973 CUENTAS, INC. (Exact name of Registrant as specified in its charter) | Florida | 20- ...

Financial Performance and Position - The company had approximately $117 million in cash on its balance sheet as of December 31, 2024, but may require additional financing for operations and growth [55]. - The company’s financial performance could be negatively impacted if its products and services are perceived as non-competitive [99]. - The company may incur significant legal, accounting, and other expenses related to compliance with public company reporting and acquisition activities, making sustained profitability challenging [49]. - The company may face significant environmental compliance costs related to its real estate operations [112]. - The company has incurred approximately $3.5 million in transaction costs related to its Business Combination as of December 31, 2024 [123]. Revenue Generation and Business Operations - The company generates revenue from its Spectrum Access System (SAS) platform in the Citizens Broadband Radio Service (CBRS) market, which is approved for commercial deployment by the FCC [20]. - The company acquired TVWS spectrum databases in the U.S. and U.K. in 2020, enhancing its position as a TVWS database service provider, generating revenue from cloud-based subscriptions [22]. - The company relies on EchoStar for all revenues from its real estate operations, making it vulnerable to EchoStar's financial performance [46]. - For the year ended December 31, 2024, one customer represented more than 10% of the company's total revenue, indicating a significant customer concentration risk [85]. Competition and Market Risks - The company faces competition in both its Technology & Telecommunications and Infrastructure & Real Estate lines of business from established firms and private equity groups [37]. - The company faces significant competition from established entities with greater resources, including EchoStar and DISH, which could impact demand and pricing for its products and services [52]. - Macroeconomic uncertainties, such as inflation and recession, could adversely affect demand for the company's products and services [65]. - The company may face risks related to potential future acquisitions, which could change its current business plan and affect the value of its securities [60]. Regulatory and Compliance Issues - The company is subject to various regulatory requirements that may increase legal and financial compliance costs, diverting management's attention from core business operations [70]. - Changes in laws or regulations, or failure to comply with them, may adversely affect the company's ability to negotiate and complete future transactions [66]. - The company’s services are subject to government regulation, which could affect operational costs and business prospects [90]. Acquisitions and Operational Challenges - Future acquisitions may lead to operational difficulties, dilution, and other consequences that could adversely impact the company's financial condition [62]. - The operation of RED Technologies is expected to be costly and time-consuming, requiring significant management resources that may detract from other operations [83]. - The company may face challenges in retaining key personnel from RED Technologies, which is critical for the successful operation of the acquired business [89]. - The company anticipates growing through further acquisition opportunities, including disruptive technologies and infrastructure assets [59]. Risks and Liabilities - The company may incur additional cash payment obligations of up to $5.30 million related to the acquisition of RED Technologies, contingent on achieving certain technology development milestones [80]. - The company faces risks associated with cyber incidents, which could lead to information theft, operational disruption, and financial loss due to insufficient data security measures [69]. - The company does not carry sufficient business interruption insurance, which could lead to significant losses from system failures [68]. - The company has identified material weaknesses in internal control over financial reporting as of December 31, 2024, related to accounting for complex financial instruments and insufficient qualified personnel [71]. Stock and Securities - The controlling stockholder, nXgen, beneficially owns approximately 99.3% of the Class A Common Stock, potentially limiting other stockholders' influence on corporate matters [53]. - The company's securities were delisted from Nasdaq, limiting market transactions and liquidity for investors [115]. - The outstanding warrants to purchase an aggregate of 30,083,285 shares of Class A Common Stock became exercisable on May 31, 2024, at a price of $11.50 per share, which may result in dilution for existing stockholders [124]. - As of December 31, 2024, the closing price of Class A Common Stock was $1.46, indicating that warrant holders are unlikely to exercise their warrants if the price remains below $11.50 [126]. - The company may redeem outstanding Public Warrants at a price of $0.01 per warrant if the closing price of Class A Common Stock equals or exceeds $18.00 for any 20 trading days within a 30 trading-day period [128]. - The company can also redeem Public Warrants at $0.10 per warrant if the closing price equals or exceeds $10.00 for the same trading conditions [129]. - Holders of Public Warrants may be required to exercise their warrants on a cashless basis, potentially resulting in fewer shares received upon exercise [131]. - The number of shares issued in a cashless exercise is capped at 0.361 shares of Class A Common Stock per Public Warrant, which may adversely affect the value of the common stock [131]. - The company may amend the terms of the Warrants with the approval of at least 50% of the holders, which could be disadvantageous to existing warrant holders [127]. - Non-U.S. holders may be subject to U.S. federal income tax on gains realized from the sale of Class A Common Stock and Warrants if the company qualifies as a U.S. real property holding corporation [132]. - The company's securities are currently subject to state "blue sky" laws due to its delisting from Nasdaq, which may restrict resale and trading in certain states [130]. Real Estate Operations - The company has a triple-net lease agreement for its commercial real estate property in Littleton, Colorado, with an initial monthly base rent of $228,500, escalating at 2% annually [28]. - The lease agreement includes two five-year renewal options, with base rent adjusted to fair market value upon renewal [28]. - The property comprises approximately 206,992 square feet of net rentable area and is fully occupied, providing a predictable revenue stream [31]. - The company has limited experience in operating commercial real estate, which could adversely affect its financial success [114]. - The company is exposed to risks from international operations, including varying privacy and cyber-related laws [103].

Financial Performance - Revenues increased by 730% from $5.2 million in 2024 to $43 million in 2025, primarily driven by $38 million in sales from other revenues related to buy-sell purchase orders of equipment [253]. - Cost of revenues rose by 883% from $4.1 million in 2024 to $40.6 million in 2025, attributed to the costs associated with equipment from buy-sell purchase orders [257]. - Gross profit decreased to 6% of revenues in 2025 from 20% in 2024, mainly due to lower margins from equipment sales compared to product sales [258]. - The company incurred net losses attributable to stockholders of $1.1 million and $2.0 million for the years ended August 31, 2025 and 2024, respectively, while net cash provided by operating activities was $2.2 million in 2025 [291]. Liquidity and Cash Flow - The company reported cash and cash equivalents of $2.6 million and $1.7 million as of August 31, 2025 and 2024, respectively, indicating an improvement in liquidity [213]. - Cash and cash equivalents increased from $1.7 million in 2024 to $2.6 million in 2025, primarily to fund operating expenses and working capital requirements [275]. - Long-term debt decreased from $3.7 million in 2024 to $1.7 million in 2025, with significant loans secured by the company's headquarters building [277][280]. - The company estimates cash requirements to service debt and contractual obligations in fiscal 2026 to be approximately $1.9 million, expected to be funded through equity issuance and loan extensions [292]. Customer and Geographic Concentration - Revenues from the company's three largest customers accounted for 94% and 61% of total revenues for the years ended August 31, 2025 and 2024, respectively, highlighting significant customer concentration risk [213]. - Net revenues from India, Japan, the Netherlands, and the United States accounted for 97% and 78% of total net revenues for the years ended August 31, 2025 and 2024, respectively, showing geographic concentration [216]. Operational Efficiency and Cost Management - The company has implemented actions to accelerate operating cost reductions and improve operational efficiencies, including workforce reductions and exploring the sale of certain manufacturing equipment [213]. - Selling, general and administrative expenses are expected to decrease due to cost reduction initiatives, with no specific figures provided [222]. - Selling, general and administrative expenses were $2.9 million for both years, with a decrease in payroll expenses offset by an increase in bad debt expense [260]. Product Strategy and Market Conditions - The average selling prices for LED components are generally higher than for LED chips, and the average selling prices for lighting products are higher than for both LED chips and components, affecting overall revenue [211]. - The company anticipates continued reliance on buy-sell purchase orders for equipment, which have improved gross profit, operating results, and cash flows [206]. - The company plans to focus on developing and introducing new, technologically advanced LED products to meet evolving customer requirements and market developments [209]. - The company expects to face increased pricing pressures due to intense competition in the LED market, which may lead to declines in average selling prices and gross margins [207]. - The company has adjusted its product mix strategy by exiting certain high-volume but low unit selling price product lines to improve gross margins [209]. Research and Development - Research and development expenses primarily consist of employee salaries, bonuses, and other benefits, with no specific figures provided [221]. - Research and development expenses remained stable at $1.2 million for both years, with a slight decrease in materials and supplies [259]. Inventory and Asset Management - Inventory write-downs totaled $323 thousand in 2025, down from $411 thousand in 2024, primarily due to obsolescence [238]. - Inventory write-downs for the years ended August 31, 2025 and 2024 were $323 thousand and $411 thousand, respectively, indicating ongoing challenges with excess and obsolete inventory [248]. - No asset impairment was recognized for the year ended August 31, 2025, as expected undiscounted cash flows exceeded the carrying value of the asset group [242]. Taxation and Deferred Tax Assets - The corporate income tax rate in Taiwan is 20% for the years ended August 31, 2025 and 2024, with an alternative minimum tax rate of 12% [233]. - The company has provided a full valuation allowance on its deferred tax assets due to cumulative losses in recent years, indicating realization is not more likely than not [236]. - The effective tax rate for fiscal years 2024 and 2025 is expected to be approximately zero due to losses incurred by Taiwan Bandaoti Zhaoming Co., Ltd. and a full valuation allowance on deferred tax assets totaling $10.8 million and $13.6 million for 2025 and 2024, respectively [266][267]. Foreign Currency and Investment - The company reported a foreign currency transaction gain of $464 thousand in 2025, compared to a loss of $13 thousand in 2024 [226]. - A net foreign currency transaction gain of $464 thousand was recognized in 2025, compared to a loss of $13 thousand in 2024, due to exchange rate fluctuations [265]. - Investment loss from unconsolidated entities increased significantly to $958 thousand in 2025 from $3 thousand in 2024, reflecting higher losses from these entities [262]. Capital Expenditures - Capital expenditures for the years ended August 31, 2025 and 2024 were $569 thousand and $123 thousand, respectively, primarily for machinery and equipment purchases [298]. - The company plans to continue investing in capital expenditures to expand business operations and production capacity, while monitoring prices to maintain financial flexibility [299][300].

Exhibit 99.1 SemiLEDs Reports Fourth Quarter and Fiscal Year End 2025 Financial Results Hsinchu, Taiwan (November 28, 2025)— SemiLEDs Corporation (NASDAQ: LEDS), "SemiLEDs" or the "Company," a developer and manufacturer of LED chips and LED components, today announced its financial results for the fourth quarter and full fiscal year, ended August 31, 2025. Revenue for the fourth quarter of fiscal 2025 was $13.2 million, compared to $17.7 million in the third quarter of fiscal 2025. GAAP net loss attributabl ...

Revenue and Growth - Lexaria's total revenue for fiscal year 2025 increased by $241,645, or 52%, to $705,923 from $464,278 in fiscal year 2024[176] - Licensing revenue grew by $238,010, or 52%, to $696,000 in fiscal year 2025 compared to $457,990 in fiscal year 2024[176] Expenses and Losses - Research and development expenditures increased by $5,878,192, or 249%, to $8,238,757 in fiscal year 2025 from $2,360,565 in fiscal year 2024[178] - The net loss from operations increased by $6,102,780 to $11,911,434 for the year ended August 31, 2025, compared to $5,808,654 for the year ended August 31, 2024[174] - General and administrative expenses increased by $493,162, or 13%, to $4,345,183 in fiscal year 2025 from $3,852,021 in fiscal year 2024[183] - Other Income/(Loss) for fiscal year 2025 decreased by $24,827, or 45%, resulting in a loss of $30,697, down from a loss of $55,524 in fiscal year 2024[186] - The Company has accumulated net losses of $63.5 million since entering the bioscience sector, with approximately $11.9 million and $5.8 million incurred in the past two fiscal years[187] Cash Flow and Financial Position - As of August 31, 2025, the Company had cash on hand of approximately $1.8 million to settle $1.5 million in current liabilities, raising substantial doubt about its ability to continue as a going concern[193] - The Company's working capital decreased by approximately $4.8 million, with current assets at $3,468,345 and current liabilities at $1,493,463 as of August 31, 2025[195] - Net cash used in operating activities was approximately $10.5 million for the year ended August 31, 2025, compared to $5.0 million during the same period in 2024, primarily due to an increase in net loss[197] - Net cash provided by financing activities totaled approximately $6.0 million from the sale of common shares during the fiscal year[199] Strategic Initiatives and Future Outlook - Lexaria anticipates a decrease in revenue from technology licensing in fiscal 2026 due to the expiration of its license agreement with Premier[177] - The company is exploring equity financing arrangements and strategic corporate partnerships to support its drug investigations[173] - The Company intends to form industry partnerships for later stage clinical development, which is expected to be a multi-year process[188] Research and Development - Lexaria completed two human pilot studies and an Australian clinical trial investigating DehydraTECH infused GLP-1, GIP, and CBD formulations during the fiscal year[169] - The company was granted a total of six new patents during fiscal 2025, including patents for treating epilepsy and diabetes[165] Share Issuance - The Company issued 2,000,000 shares of common stock at $1.00 each in a registered direct offering, generating net proceeds of $1.7 million[189] - On September 26, 2025, the Company agreed to sell 2,666,667 shares of common stock at a purchase price of $1.50 per share, resulting in net proceeds of $3.5 million[191] Impairment and Losses - The Company recognized an impairment loss of $247,364 related to abandoned patent applications for the year ended August 31, 2025, compared to $57,836 for the year ended August 31, 2024[185]