AlphaTON Capital (ATON) investor relations material

Executive summary

• Transitioned from a clinical-stage biotech to a digital asset and technology company focused on the Telegram ecosystem and TON token, with significant M&A and treasury activities.

• Raised $36.2M in September 2025 via private placement, including cash, stablecoins, and digital assets, to establish a TON-focused treasury.

• Discontinued legacy immuno-oncology trials to preserve cash and shifted strategic focus to digital assets and Telegram-based applications.

Financial highlights

• Net loss of $11.1M for the six months ended September 30, 2025, compared to $3.0M loss in the prior year period.

• Cash and cash equivalents decreased to $0.2M as of September 30, 2025, from $1.7M at March 31, 2025.

• Digital assets (TON and Bitcoin) valued at $1.8M and stablecoins at $3.1M as of September 30, 2025.

• Raised $3.3M in cash and $32.9M in digital assets/stablecoins from September 2025 private placement.

• Share-based compensation expense totaled $1.0M for the six months ended September 30, 2025.

Outlook and guidance

• Significant doubt exists about the ability to continue as a going concern due to low cash reserves and ongoing operating losses.

• Actively exploring additional financing options, including ATM equity programs and asset-backed loans.

• Plans to expand TON treasury, deploy GPU hardware for AI computing, and invest in Telegram-based applications.