{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-022417","form_type":"8-K","ticker":"TONX","cik":"0001566610","company_name":"TON Strategy Co","filed_at":"2026-05-12T12:55:12+00:00","discovered_at":"2026-05-12T13:00:00.289594+00:00","generated_at":"2026-05-12T13:10:34.650128+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"TON Strategy Q1 2026 net loss $91.0M; Toncoin holdings valued at $272M at March 31","bullets":["Revenue $5.3M ($3.0M staking); operating loss $(3.9)M; net loss $(91.0)M includes $(87.9)M unrealized loss on Toncoin.","Held 221.9M Toncoin units ($272M fair value) at March 31; staked 221.2M units.","Earned 2.2M $TON staking revenue ($3.0M) in Q1.","Appointed Kevin Wilson CEO effective May 4, 2026.","Post-quarter: network upgrades lifted staking yield to 1.39% in April; estimated Toncoin fair value $433.3M as of May 6."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-022417","json":"https://secwatch.observer/filing/0001493152-26-022417.json","markdown":"https://secwatch.observer/filing/0001493152-26-022417.md","text":"https://secwatch.observer/filing/0001493152-26-022417.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1566610/000149315226022417/0001493152-26-022417-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1566610/000149315226022417/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-12T13:10:34.650128+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"40eaca70dd055e27db3a51d661f1858106257148","claim":"TON Strategy Co reported the first quarter ended March 31, 2026 results: revenue Total revenue was $5.3 million, net income Net loss before income taxes was $(91.0) million.","evidence_excerpt":"for the first quarter of 2026 reflect the operation of its TON treasury strategy, including staking activities, alongside its legacy operating businesses. Total revenue was $5.3 million and included approximately $3.0 million from staking activities. Gross profit was $4.0 million. Total costs and expenses were $7.8 million, reflecting costs associated with","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1566610/000149315226022417/0001493152-26-022417-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the first quarter ended March 31, 2026"},{"label":"Revenue","value":"Total revenue was $5.3 million"},{"label":"Net income","value":"Net loss before income taxes was $(91.0) million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}