ZeroStack, whose digital-asset treasury is overwhelmingly composed of the AI-focused 0G token, mentioned it expects to fund operations primarily by promoting staking rewards. Administration, nevertheless, couldn’t conclude that its plans would alleviate substantial doubt concerning the firm’s means to proceed as a going concern.
The corporate’s Kind 10-Q, filed July 31 for the quarter ended June 30, reported $2.6 million in money, adverse working capital of $600,000, a $339.1 million amassed deficit and a $61.3 million web loss for the primary half of 2026. It additionally recorded an $82.5 million loss from remeasuring digital property at honest worth. That markdown was an accounting loss, not a realized money loss.
At June 30, ZeroStack held 75.1 million 0G tokens with a recorded value of $163.33 million and honest worth of $15.17 million. Together with a small Bitcoin place, whole digital property had a $163.43 million value and $15.21 million honest worth. These figures are a June 30 snapshot and predate a a lot bigger 0G acquisition that closed in July.
Reward gross sales underpin the liquidity plan
ZeroStack acknowledged $3.78 million in digital-asset income from 6.62 million 0G tokens earned by way of staking in the course of the first half, web of 1% or 2% validator commissions. It bought 4.94 million tokens from its rewards pockets for $2.4 million in proceeds, whereas utilizing $2.47 million in money for working actions over the identical interval.
Administration mentioned the corporate expects to fund operations primarily by monetizing staking rewards and will promote some underlying token holdings if wanted. ZeroStack mentioned its staked tokens stay in firm wallets and could be withdrawn at any time, however that doesn’t set up rapid money availability. The submitting additionally warns that rewards can decline or disappear and that gross sales rely on token costs and market situations.
The submitting subsequently doesn’t set up that this mechanism can fund operations for the yr following issuance of the monetary statements. But, its exact warning is substantial going-concern doubt, moderately than a declaration that ZeroStack is bancrupt.
A March 31 Kind 8-Okay described 142,232,948 0G tokens initially contributed to Texas Blocker. After ZeroStack’s acquisition of the corporate closed on July 20, the 10-Q’s subsequent-events word mentioned ZeroStack acquired 147,990,763 tokens from Texas Blocker and held 223,773,990 tokens in whole, valued at about $40.5 million utilizing the July 27 closing value.
The contributed and bought counts differ by 5,757,815 tokens. Texas Blocker was permitted to stake its holdings earlier than the acquisition closed, however the public disclosures don’t explicitly attribute that complete distinction to staking rewards.
The transaction additionally carried related-party ties. Texas Blocker was fashioned by ZeroStack CEO Daniel Reis-Faria and CFO Dany Vaiman, and the submitting says Zero Gravity Labs owned 51% of it at June 30. ZeroStack Govt Chairman Michael Heinrich was Zero Gravity’s CEO when the ZeroStack transaction closed.
0G traded close to 15 cents on Aug. 1, with roughly $6.8 million to $7.5 million in rolling 24-hour quantity.
