Zerostack Reports $1.06 Billion Crypto Treasury, Valuing Holdings at $18.19 a Share
Updated
Updated · Newsfile · Aug 24
Zerostack Reports $1.06 Billion Crypto Treasury, Valuing Holdings at $18.19 a Share
2 articles · Updated · Newsfile · Aug 24
Summary
Zerostack said its cryptocurrency holdings were worth about $1.0638 billion as of Aug. 23, equal to roughly $18.19 per share on a partially diluted basis.
The treasury is dominated by 925.9 million MemeCore tokens valued at about $1.028 billion, plus 223.8 million 0G tokens worth about $36.0 million using CoinMarketCap prices.
At Zerostack's Aug. 21 Nasdaq close of $4.71, the stock traded at a 74.1% discount to that partially diluted crypto value; on a fully diluted basis, holdings equaled $17.33 a share, a 72.8% discount.
The company said the figures are supplemental non-GAAP measures meant to show treasury scale, not net asset value, liquidation value or a guarantee the stock will converge with crypto holdings.
Zerostack also warned crypto prices, dilution, taxes, liquidity and disposal costs could materially change realizable value, even as management said its pharmaceutical business and other assets should cover liabilities.