TABLE OF CONTENTS As filed with the United States Securities and Exchange Commission on November 25, 2025. Registration No. 333-289815 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Pre-Effective Amendment No. 3 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 DEVVSTREAM CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Alberta, Canada 001-40977 86-2433757 (Commission File Number) (I.R.S. Em ...

Core Viewpoint - Reliance Global Group has strategically realigned its Digital Asset Treasury by consolidating its holdings into Zcash (ZEC), reflecting a strong belief in Zcash's long-term potential and its unique position in the digital asset landscape [1][6]. Strategic Decision - The decision to focus on Zcash follows a comprehensive review by the company and the Crypto Advisory Board, which concluded that Zcash offers the most compelling opportunity for a long-term digital asset strategy [2][5]. - Zcash's privacy-centric architecture, built on Bitcoin's success, is viewed as a more attractive value proposition compared to a diversified portfolio of digital assets [2][4]. Zcash Attributes - Zcash combines robust security, optional privacy, and institutional-grade flexibility, distinguishing it from other blockchain networks [3][4]. - Its dual-transaction model allows for both transparent and privacy-centric activities, enabling organizations to maintain confidentiality while meeting regulatory requirements [3][7]. - Zcash has shown resilience during market volatility, appreciating over 1,200% in the past 90 days, indicating growing recognition of its technological advantages [4][6]. Institutional Relevance - The privacy architecture and compliance-ready design of Zcash are gaining traction in enterprise and financial sectors, making it a strategic fit for Reliance's Digital Asset Treasury [4][6]. - Zcash's features, such as selective disclosure and enterprise-grade confidentiality, support organizations in managing sensitive information while adhering to governance standards [7][8]. Leadership and Strategy - The strategic consolidation into Zcash is attributed to the leadership of Blake Janover, who provided renewed clarity and direction to the treasury strategy [6][8]. - The company emphasizes its commitment to clarity, discipline, and long-term value creation through this focused approach [6][8].

Core Viewpoint - mF International Limited has announced a leadership change with Mr. Haoyu Wang resigning as CEO, and Mr. Dawei Yuan appointed as the new CEO and Chairman of the Board, coinciding with the company's strategic move towards a digital asset treasury strategy [1][2][4]. Leadership Transition - Mr. Haoyu Wang resigned for personal reasons, with no disagreements reported regarding company operations [2]. - Mr. Dawei Yuan, an experienced entrepreneur in blockchain infrastructure, has been appointed as CEO and Chairman, effective immediately [1][3]. Mr. Dawei Yuan's Background - Mr. Yuan has a strong background in fintech and blockchain, having founded Red Dot Technology Limited and co-founded ColdLar Wallet [3]. - He has held significant roles in various companies, including serving as Operations Director at Huobi, which became the largest cryptocurrency exchange in China during his tenure [3]. Digital Asset Treasury Strategy - The company announced its plans to initiate a digital asset treasury strategy on November 21, 2025, which aims to leverage blockchain technology for value creation [4][6]. - Mr. Yuan's expertise is expected to be crucial in executing this strategy, which will involve investments in digital assets like BCH as a hedge against inflation [4]. Company Overview - mF International Limited is a British Virgin Islands holding company with subsidiaries in Hong Kong, primarily engaged in providing financial trading solutions [6][7]. - The company has approximately 20 years of experience in delivering trading platform solutions and financial services to clients across Asia [7].

Core Viewpoint - Hyperscale Data, Inc. has a Bitcoin treasury valued at approximately $70.5 million, representing about 77% of its market capitalization, and aims to accumulate Bitcoin equal to 100% of its market cap as part of a $100 million digital asset treasury strategy [1][4]. Group 1: Bitcoin Holdings - The company's subsidiary, Sentinum, holds approximately 382.9384 Bitcoin, with a market value of about $33.25 million based on the Bitcoin price of $86,805 as of November 23, 2025 [2]. - The Bitcoin holdings consist of 54.1415 Bitcoin from mining operations and 328.7968 Bitcoin acquired in the open market, including 45.4500 Bitcoin purchased during the week ending November 23, 2025 [2]. Group 2: Cash Allocation and Strategy - Hyperscale Data has allocated $37.25 million in cash for future Bitcoin purchases, employing a disciplined dollar-cost averaging strategy to mitigate short-term market volatility [3][4]. - The company targets investing at least 5% of the allocated cash each week, with actual amounts varying based on market conditions [4]. Group 3: Growth and Reporting - The growth of the digital asset treasury position is driven by both open-market purchases and self-mined Bitcoin [5]. - Hyperscale Data will issue weekly reports detailing its Bitcoin holdings as it progresses towards its $100 million digital asset treasury target [5].

Core Insights - Enlivex Therapeutics has entered into a private investment in public equity (PIPE) agreement to sell 212 million ordinary shares at $1.00 per share, raising approximately $212 million, which will be used to implement a RAIN prediction markets token treasury strategy [3][8][9] - The company will be the first publicly-listed entity to adopt a treasury strategy centered on the RAIN token, aiming to provide investors with exposure to the rapidly growing prediction markets sector [5][9] - Enlivex continues its focus on the clinical development of Allocetra™, a novel therapy for knee osteoarthritis, a condition affecting over 32.5 million Americans [10] Company Developments - The PIPE transaction represents a premium of 11.5% from the stock's closing price on November 21, 2025 [3][8] - Matteo Renzi, former Prime Minister of Italy, will join the Enlivex Board of Directors following the closing of the private placement [2] - The closing of the transaction is expected on or before November 25, 2025, pending customary closing conditions [5] Industry Context - The prediction markets industry is experiencing significant institutional interest, highlighted by a $2 billion investment by NYSE's parent company in Polymarket and a $300 million financing round for Kalshi led by prominent venture capital firms [5] - RAIN is a decentralized predictions and options protocol built on the Arbitrum network, allowing users to create and trade custom options on various markets [4] - The protocol features a deflationary Buyback & Burn mechanism and aims to be a leading platform in the prediction markets space, similar to Uniswap in decentralized finance [4]

Core Insights - Enlivex Therapeutics is set to implement a unique treasury strategy centered around the RAIN prediction markets token, marking it as the first publicly-listed company to do so in the U.S. [1][8] - The company is continuing the clinical development of Allocetra™, a therapy aimed at treating knee osteoarthritis, addressing a significant unmet medical need in a growing market [2][9] - The private placement transaction involves the sale of 212 million ordinary shares at $1.00 per share, yielding approximately $212 million in gross proceeds [3] Company Developments - Enlivex will appoint former Italian Prime Minister Matteo Renzi to its Board of Directors following the private placement [2] - The company plans to utilize the net proceeds from the PIPE transaction to implement the RAIN treasury strategy while maintaining focus on its core business operations [3][5] - The price per share for the private placement represents an 11.5% premium over the previous closing price [2] Industry Context - The prediction markets sector is experiencing significant institutional interest, highlighted by a $2 billion investment in Polymarket and a $300 million financing round for Kalshi [5] - RAIN is described as a fully decentralized predictions and options protocol, allowing users to create and trade custom options on various markets [4] - The market for osteoarthritis treatments is substantial, with over 32.5 million Americans affected and projections indicating that 78 million Americans may have osteoarthritis by 2040 [9]

Core Viewpoint - mF International Limited announced a $500 million private placement (PIPE) to initiate a digital asset treasury strategy, involving the sale of 50 million class A ordinary shares at $10.00 each [1][2]. Group 1: PIPE Details - The PIPE is expected to close around December 1, 2026, with the company anticipating gross proceeds of $500 million before expenses [2]. - The net proceeds will primarily fund the acquisition of bitcoin cash and establish the company's digital asset treasury operations, along with working capital and general corporate purposes [2]. Group 2: Company Background - mF International Limited is a British Virgin Islands holding company with three operating subsidiaries in Hong Kong, focusing on financial trading solutions [5]. - The principal subsidiary, m-FINANCE, has approximately 20 years of experience in providing financial trading solutions, including forex and commodities trading platforms, to clients across mainland China, Hong Kong, and Southeast Asia [5].

Financial Data and Key Metrics Changes - The third quarter revenue was $697,000, which included first-time staking rewards income of $342,000, marking a significant increase from the prior year period [25] - Cost of revenue decreased to $103,000 from $187,000 in the prior year, primarily due to reduced inventory reserve and production scrap expenses [25] - Total operating expenses for the third quarter were $36 million, compared to $3.9 million in the third quarter of 2024, resulting in a loss from operations of $35.4 million, up from a loss of $4.1 million in the prior year [26] - The net loss for the third quarter was $352.8 million, or a loss of $32.89 per share, compared to a net loss of $3.7 million in the prior year [27][28] Business Line Data and Key Metrics Changes - The company has increased its holdings of SOL by approximately $100,000 in the first month of operation, totaling over 2.3 million tokens [15] - The average gross staking yield for October was 7.03% APY, outperforming the stake-weighted average of the top 10 largest validators [16] Market Data and Key Metrics Changes - Trading volume in HSDC has significantly outperformed the average of peer DATs, indicating growing awareness of Solana's fundamentals [10] - The company has been actively engaging with the Asian market, which is seen as a significant under-penetrated area with high potential for Solana [9] Company Strategy and Development Direction - The company aims to build the "Berkshire Hathaway of the Solana ecosystem," focusing on compounding shareholder value and maintaining a strong balance sheet [11] - The digital asset treasury strategy is centered around three pillars: advocacy, capital markets, and treasury management [5][6] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the digital asset treasury market has cooled after a period of rapid expansion, entering an execution and consolidation phase [14] - The company believes it has the necessary ingredients for long-term success, including balance sheet strength and institutional sponsorship [15] Other Important Information - The company successfully raised over $500 million to fund its digital asset treasury strategy in September [4] - The PoNS device submission for FDA 510(k) designation has been filed, reflecting positive clinical outcomes from the stroke registration program [22][23] Q&A Session Summary - No questions were raised during the Q&A session, and the call concluded with closing remarks from management [29][30]

Financial Data and Key Metrics Changes - The third quarter revenue was $697,000, which included first-time staking rewards income of $342,000, marking a significant increase from the prior year period [25] - Cost of revenue decreased to $103,000 from $187,000 in the prior year, primarily due to reduced inventory reserve and production scrap expenses [25] - Total operating expenses for Q3 2025 were $36 million, compared to $3.9 million in Q3 2024, resulting in a loss from operations of $35.4 million, up from a loss of $4.1 million in the prior year [26] - The net loss for Q3 2025 was $352.8 million, or a loss of $32.89 per share, compared to a net loss of $3.7 million in the prior year [27][28] Business Line Data and Key Metrics Changes - The company has increased its holdings of SOL by approximately 100,000 tokens in the first month of operation, totaling over 2.3 million tokens [15] - The average gross staking yield for October was 7.03% APY, outperforming the stake-weighted average of the top 10 largest validators [16] Market Data and Key Metrics Changes - Trading volume in HSDC has significantly outperformed the average of peer DATs, indicating growing awareness of Solana's fundamentals [10] - The company has been actively engaging with institutional investors and has appeared in major media outlets, enhancing its visibility in the market [8] Company Strategy and Development Direction - The company aims to build the "Berkshire Hathaway of the Solana ecosystem," focusing on maximizing shareholder value through disciplined execution of its digital asset treasury strategy [11] - The strategic focus includes advocacy for Solana, capital markets management, and treasury management, with an emphasis on operational excellence and capital discipline [14][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a cooling digital asset treasury market but expressed confidence in the company's ability to navigate the execution and consolidation phase [12][14] - The company believes it has the necessary ingredients for long-term success, including balance sheet strength and institutional sponsorship [15] Other Important Information - The company successfully raised over $500 million to fund its digital asset treasury strategy in September 2025 [4] - The PONS device has shown positive clinical outcomes, supporting its submission for FDA 510(k) designation [22] Q&A Session Summary - No questions were raised during the Q&A session, indicating a lack of immediate inquiries from investors [30]

In October announced a $25 million share repurchase program, advancing LITS from the initial phase of Litecoin accumulation to active capital market operations and allowing LITS to leverage our nearly 1 million LTC treasury - a key differential from passive investment structures like exchange-traded funds.Rebranded from MEI Pharma to Lite Strategy, including changing the Company’s corporate name and NASDAQ Stock Market ticker from MEIP to LITS, and unveiling a new corporate logo and website. The rebranding ...