DeFi Technologies (Nasdaq: DEFT) warns of potential delay in 2025 annual filings
Rhea-AI Filing Summary
DeFi Technologies Inc. reports it may delay filing its annual financial statements, MD&A and related CEO/CFO certifications for the year ended December 31, 2025. The timing risk stems from awaiting a SOC 2 Type 2 report from a material third-party counterparty that its auditors need.
The company states there is no disagreement with auditors, no identified issues in its financial statements, and no weaknesses found in internal controls. It has applied to the Ontario Securities Commission for a temporary management cease trade order that would restrict trading by certain insiders only, and plans bi-weekly status updates if a default occurs. DeFi Technologies also plans to file its 2025 Form 40-F with the SEC concurrently with Canadian annual filings.
Positive
- None.
Negative
- Risk of delayed 2025 annual filings due to reliance on a SOC 2 Type 2 report from a material third-party counterparty, potentially requiring additional audit procedures and substantial incremental cost.
Insights
Potential filing delay tied to third-party report, not internal issues.
DeFi Technologies highlights a possible delay in its 2025 annual financial filings because auditors are waiting on a SOC 2 Type 2 report from a key third-party counterparty. The company explicitly limits the issue to audit timing, not accounting problems.
Management plans extra audit procedures, at potentially substantial incremental cost, if the report is late. It has also sought a temporary management cease trade order, which would restrict insider trading but leave other investors unaffected. This adds a governance safeguard during any default period.
The company intends to file its Form 40-F with the SEC at the same time as its Canadian annual filings. It also notes no material business developments since interim results dated September 30, 2025, outside prior disclosures, suggesting operational continuity while the audit timing is resolved.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March, 2026.
Commission File Number 001-41056
DEFI TECHNOLOGIES INC.
(Translation of registrant's name into English)
Suite 2400, 333 Bay Street, Toronto, Ontario, Canada M5H 2T6
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
| ☐ | Form 20-F ☒ Form 40-F |
EXHIBIT INDEX
| Exhibit Number | Description | |
| 99.1 | New Release dated March 23, 2026 - DeFi Technologies Provides Update on Timing of Annual Filings |
| DEFI TECHNOLOGIES INC. | ||
| (Registrant) | ||
| Date: March 23, 2026 | By | /s/ Kenny Choi |
| Kenny Choi Corporate Secretary |
EXHIBIT 99.1
DeFi Technologies Provides Update on Timing of Annual Filings
TORONTO, March 23, 2026 /CNW/ - DeFi Technologies Inc. (the "Company" or "DeFi Technologies") (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance ("DeFi"), today announced the Company may experience a delay in filing its annual financial statements, management's discussion and analysis, and related CEO and CFO certifications for the year ended December 31, 2025 (collectively, the "Annual Filings").
The potential delay relates solely to the possible timing of receipt of a SOC 2 Type 2 report from a material third-party counterparty that is relevant to the Company's audit procedures. As of the date of this release, the Company has not yet determined whether the report will be received in time to support completion of the audit process by the filing deadline of March 31, 2026.
If the SOC 2 Type 2 report is received by March 31, 2026, the Company currently expects to complete its audit procedures and file the Annual Filings on time.
If the report is not received by March 31, 2026, management intends to undertake additional audit procedures, which may involve substantial incremental cost, in order to support completion of the audit and filing of the Annual Filings as promptly as possible.
The Company emphasizes that the potential delay does not relate to any disagreement with its auditors, any issues with the Company's financial statements, or any identified weakness in the Company's internal controls over financial reporting. Other than the possible delay in receiving the SOC 2 Type 2 report from the third-party counterparty, the audit process is otherwise expected to be completed on schedule.
In connection with the potential delay and default in the completion of the Annual Filings, the Company has made an application to the Ontario Securities Commission (the "OSC"), as principal regulator, to approve a temporary management cease trade order ("MCTO") under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203"). If granted, the MCTO will prohibit trading in securities of the Company, whether direct or indirect, by certain insiders of the Company, but will not restrict trading by other parties. If the potential delay and default occur, until the Annual Filings are completed, the Company will comply with the alternative information guidelines set out in NP 12-203, including by issuing bi-weekly default status reports by way of further news releases.
In addition, the Company intends to file its 2025 Annual Report on Form 40-F, including the Annual Filings, with the U.S. Securities and Exchange Commission (the "SEC") on EDGAR at the same time the Annual Filings are filed with the Canadian securities regulatory authorities on SEDAR+.
The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on November 14, 2025 of the Company's latest interim financial reports for the period ended September 30, 2025.
DeFi Technologies will provide further updates as appropriate.
About DeFi Technologies
DeFi Technologies Inc. (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B) is a financial technology company bridging the
gap between traditional capital markets and decentralized finance ("DeFi"). As the first Nasdaq-listed digital asset manager
of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated
and scalable business model. This includes Valour, which offers access to over one hundred of the world's most innovative digital assets
via regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and liquidity; Reflexivity
Research, which provides leading research into the digital asset space; and DeFi Alpha, the Company's internal arbitrage and trading business
line. With deep expertise across capital markets and emerging technologies, DeFi Technologies is building the institutional gateway to
the future of finance. Follow DeFi Technologies on LinkedIn and X/Twitter, and for more details, visit https://defi.tech/.
DeFi Technologies Subsidiaries
About Valour
Valour Inc. and Valour Digital Securities Limited (together, "Valour") issues exchange traded products ("ETPs")
that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account.
Valour is part of the asset management business line of DeFi Technologies. For more information about Valour, to subscribe, or to receive
updates, visit valour.com.
About Stillman Digital
Stillman Digital is a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing
on industry-leading trade execution, settlement, and technology. For more information, please visit https://www.stillmandigital.com.
About Reflexivity Research
Reflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the
bitcoin and digital asset industry, empowering investors with valuable insights. For more information please visit https://www.reflexivityresearch.com/.
Cautionary note regarding forward-looking information:
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the timing of filing for the Annual Filings and its 2025 Annual Report on Form 40-F, the potential issuance of the MCTO by the OSC, financial results of the Company; revenue outlook of the Company and its business segments; growth of AUM; geographic expansion of the Company's core businesses; revenue generating opportunities for the Company's digital asset holdings; upcoming ETP launches; revenue generation by DeFi Alpha and competitive factors; integration of Stillman Digital and plans and outlook for 2026; fluctuation in digital asset prices; geographic expansion of the Company; investment and interest in the digital asset sector; development of the DeFi Advisory business line; future collaborations and partnerships; development of ETPs; future acquisitions by the Company; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by DeFi Technologies and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but are not limited to the acceptance of Valour exchange traded products by exchanges; ability of the Company to successfully integrate and grow Reflexivity Research, Stillman Digital, and DeFi Advisory; the proliferation of digital asset treasury companies; growth and development of DeFi and the digital asset sector; rules and regulations with respect to DeFi and digital assets; fluctuation in digital asset price levels; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
THE CBOE CANADA EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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SOURCE DeFi Technologies Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2026/23/c0415.html
%CIK: 0001888274
For further information: For further information, please contact: Johan Wattenstrom, Chief Executive Officer, ir@defi.tech, (323) 537-7681
CO: DeFi Technologies Inc.
CNW 17:00e 23-MAR-26
FAQ
Why might DeFi Technologies (DEFT) delay its 2025 annual filings?
Does DeFi Technologies report any audit or internal control issues in this update?
What is the purpose of the proposed management cease trade order for DeFi Technologies?
How will DeFi Technologies keep investors informed if its annual filings are delayed?
When will DeFi Technologies file its 2025 Form 40-F with the SEC?
Has DeFi Technologies reported any new material business developments since September 30, 2025?
Filing Exhibits & Attachments
1 documentPress Releases
