Streamex Corp.

What they do

The company operates through Streamex Exchange, acquired May 28, 2025, which issues and supports digital tokens backed by tangible assets. Its first product, GLDY, is a token representing fractional interests in a Cayman Islands SPV holding physical gold and participating in a gold leasing program with Monetary Metals & Co. under a Tokenized Yield Partnership Agreement. It also retains a legacy biomedical business built around the PURE EP advanced signal acquisition and analysis platform, plus majority-owned subsidiaries ViralClear and BioSig AI Sciences.

Revenue drivers

• Tokenized gold lease income (GLDY) — GLDY generates yield through gold leasing activities administered with Monetary Metals & Co.; the company recognized its first $0.1 million of gold lease income in Q2 2026. Yield to tokenholders is paid as additional tokens rather than cash.
• Legacy biomedical technology — The historical business is built on the PURE EP platform for advanced signal acquisition and analysis in electrophysiology. Reported annual revenue never exceeded $441,000 (2021) and was $40,000 in 2024.
• Physical gold and digital asset holdings — At June 30, 2026 the company held $15.5 million of physical gold and $6.0 million of digital assets, plus an $1.8 million investment in Metalayer. These appear among balance sheet holdings rather than as disclosed revenue lines.

Recent performance

Q2 2026 revenue was $146,000, up from $12,000 in Q1 2026 and from $13,000 in Q2 2024, driven by the first $0.1 million of gold lease income. The company reported total liquidity of $41.8 million at June 30, 2026, consisting of $18.5 million cash and marketable securities, $6.0 million digital assets, $15.5 million physical gold, and the $1.8 million Metalayer investment, with no outstanding debt. Total equity was $147.1 million and working capital was $32.8 million. Operating cash burn was $1.6 million per month in Q2 2026, including roughly $0.5 million of non-recurring accounting, consulting, personnel and marketing items. Full-year 2025 net income was a loss of $462.8 million with diluted EPS of $(9.65), and operating cash flow was negative $10.4 million.

Strategy

Management is positioning Streamex as an institutional-grade bridge between traditional finance and blockchain markets, focused on tokenizing commodity real-world assets. It has launched GLDY with distribution, custody, liquidity and independent verification components, and plans a permissionless gold offering, GLDC, followed by other assets. The acquisition of Streamex Exchange was funded with exchangeable shares of a BC unlimited liability subsidiary, exchangeable one-for-one into common stock for up to 109,070,039 shares, a conversion cap removed by shareholder approval on November 4, 2025. The company renamed itself from BioSig Technologies on September 12, 2025 and now trades as STEX on Nasdaq. Management has said it is actively tightening its cost structure, expecting about $1.1 million per month of operating cash burn in Q3 2026 excluding non-recurring items.

Risks

• Unproven tokenization business — The digital asset infrastructure and RWA tokenization business is new, and the company may not successfully commercialize tokenized products or achieve market adoption.
• Evolving digital asset regulation — The regulatory environment is uncertain, with potential securities, commodities, broker-dealer/ATS, money transmission, AML/KYC and sanctions requirements that could restrict operations, delay launches or raise costs.
• Gold custody and reserve verification — The tokenized gold strategy carries custody, reserve verification, liquidity and redemption risks, including unallocated custody, no linkage of tokens to specific bullion bars, and no live proof-of-reserves or independent audit.
• No tokenholder protections — Tokenholders do not benefit from FDIC or SIPC protections and may face delays, partial recovery or total loss if the SPV becomes insolvent or a service provider fails.

Outlook

Management says the second quarter was an inflection point and plans to focus its August 17, 2026 update on future growth and catalysts for GLDY. It expects operating cash burn of approximately $1.1 million per month in Q3 2026, excluding non-recurring items, and is tightening its cost structure. The stated roadmap centers on GLDC, a permissionless gold offering, and additional commodity assets expected to follow gold. The company has not provided revenue guidance.