---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-032948"
form_type: "8-K"
ticker: "TONX"
cik: "0001566610"
company_name: "TON Strategy Co"
filed_at: "2022-11-18T23:59:59+00:00"
generated_at: "2026-06-21T15:50:35.212334+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Verb Tech Q3 revenue falls to $2.2M, loss narrows; $9M in new financings

## Summary
- SaaS recurring subscription revenue $1.9M, up modestly YoY; total digital revenue $2M vs $2.4M.
- Net loss $8.0M narrowed from $8.8M; Modified EBITDA improved 25% to ($5.2M).
- Post-quarter: $4M direct offering (Oct 25) and $5M 9% non-convertible note (Nov 7).
- Cost cuts: monthly opex reduced; execs/Board take 25% cash compensation cut.
- Nasdaq grants 6-month extension to regain $1 bid; Alantra hired for strategic review.

## SEC filing metadata
- accession: 0001493152-22-032948
- form_type: 8-K
- ticker: TONX
- cik: 0001566610
- company_name: TON Strategy Co
- filed_at: 2022-11-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1566610/000149315222032948/0001493152-22-032948-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1566610/000149315222032948/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-032948
- JSON: https://secwatch.observer/filing/0001493152-22-032948.json
- Plain text: https://secwatch.observer/filing/0001493152-22-032948.txt

## Key facts
- Earnings Releases
  TON Strategy Co reported the three months ended September 30, 2022 results: revenue $2.2 million.
  - Period: the three months ended September 30, 2022
  - Revenue: $2.2 million
  - Result: reported results
  source text: Total revenue was $2.2 million, versus $2.9 million for the same period last year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1566610/000149315222032948/0001493152-22-032948-index.htm
- Earnings Releases
  TON Strategy Co reported the nine months ended September 30, 2022 results: revenue $7.3 million.
  - Period: the nine months ended September 30, 2022
  - Revenue: $7.3 million
  - Result: reported results
  source text: Total revenue was $7.3 million, a decrease of 7% over the same period last year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1566610/000149315222032948/0001493152-22-032948-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.