Devvstream Corp SEC Filings

DevvStream Corp. reports a net loss of $521,546 for the three months ended October 31, 2025, compared with a loss of $4,056,434 a year earlier. Revenue was only $1,100, with a small negative gross profit, while operating expenses of about $1.79 million kept the business firmly in the red. Basic and diluted loss per share was $0.14, versus $3.48 in the prior-year period.

Total assets were $8,837,561 and total liabilities $28,170,589, leaving a shareholders’ deficit of $19,333,028. Cash and restricted cash fell from $9,851,111 to $2,099,076 during the quarter, driven by $3,037,822 of operating cash outflows and $5,125,000 used to buy Bitcoin and Solana under a new $10,000,000 Crypto Strategy Convertible Debt. DevvStream now holds cryptocurrencies valued at $4,715,853, all pledged as collateral. Convertible debentures carry a balance of $13,244,818, and management discloses that recurring losses, limited revenue and financing needs "raise substantial doubt" about the company’s ability to continue as a going concern. The company also relies on a Helena equity line of up to $300,000,000, from which $4,084,681 has been drawn through issuing 1,145,700 shares.

DevvStream Corp. has an effective shelf prospectus covering the resale of up to 26,419,091 common shares, and is updating it with details of a planned merger and financing. The company signed an Agreement and Plan of Merger with Southern Energy Renewables Inc., under which DevvStream will first domesticate from Alberta to Delaware and then merge a DevvStream subsidiary into Southern so Southern becomes a wholly owned subsidiary. DevvStream will issue post‑domestication common shares to Southern’s shareholders, with closing subject to shareholder approvals, regulatory clearances, Nasdaq listing of the new shares, and Southern maintaining at least $10,000,000 of assets.

Alongside the merger, DevvStream entered into a $2,000,000 PIPE with Southern’s shareholder for 128,370 shares at $15.58 per share, and expects to use the net proceeds for general corporate purposes and merger and domestication costs, including up to $350,000 for Southern’s expenses. DevvStream agreed to register the resale of the PIPE shares and certain merger shares after closing or termination, and put in place support and lock-up agreements, termination fees based on 3.1% of its share value in some failure scenarios, and expense reimbursement tied to shareholder votes.

DevvStream Corp. has filed a resale registration covering up to 1,295,001 common shares that may be issued to Helena Global Investment Opportunities 1 Ltd. upon conversion of a $10 million senior secured convertible note. These shares are being registered for Helena’s account; DevvStream will not receive proceeds from their resale. As context, DevvStream reports 3,841,642 common shares outstanding as of the date of the prospectus.

DevvStream is a capex‑light environmental asset company focused on carbon credits and I‑RECs, using blockchain only to track project data, not to issue credits or crypto tokens. The company has also adopted a digital asset treasury strategy, planning to allocate most proceeds from up to $300,000,000 in Helena senior secured convertible notes into Bitcoin, Solana and DevvE, custodied with BitGo. An expanded equity line of credit with Helena of up to $300,000,000 provides additional potential funding.

The Helena notes are senior secured against substantially all assets, including digital assets, and are convertible at a floating discount with a floor price. Large potential share issuance from the notes and equity line, combined with crypto‑linked treasury exposure, could create meaningful dilution and share‑price volatility alongside added financing flexibility.

DevvStream Corp. has a prospectus supplement covering up to 26,419,091 common shares, updating its existing S-1 prospectus with new information. The update incorporates a recent Form 8-K disclosing that Nasdaq notified the company it no longer meets continued listing standards, including the minimum net income requirement and alternative tests for market value of listed securities or stockholders’ equity. DevvStream has until January 2, 2026 to submit a plan to regain compliance and could receive up to 180 days from the notice date if Nasdaq accepts that plan. For now, the company’s common shares continue to trade on the Nasdaq Capital Market under the symbol DEVS, which closed at $1.39 on November 21, 2025.

DevvStream Corp. filed a prospectus supplement covering up to 114,968,270 common shares and updated investors with a recent Nasdaq compliance notice. On November 18, 2025, Nasdaq notified the company that its net income from continuing operations fell below the minimum requirement for continued listing and that it also does not meet the alternative standards for market value of listed securities or stockholders’ equity. DevvStream has until January 2, 2026 to submit a plan to regain compliance, after which Nasdaq may grant up to 180 days from the notice date to show it meets the listing standards or move toward delisting. The notice does not immediately affect trading, and the stock continues to trade on the Nasdaq Capital Market under the symbol DEVS.

Devvstream Corp. (DEVS) disclosed that it received a notice from the Nasdaq Listing Qualifications Department stating that the company no longer meets the Nasdaq Capital Market continued listing standards. Its net income from continuing operations fell below the minimum required under Nasdaq Listing Rule 5550(b)(3), and it also does not meet the alternative standards based on market value of listed securities or stockholders’ equity.

The company has until January 2, 2026 to submit a plan to Nasdaq explaining how it will regain compliance. If Nasdaq accepts the plan, it may grant up to 180 calendar days from the notice date for Devvstream to show it meets the standards. If Nasdaq does not accept the plan, or if compliance is not regained, the company’s common stock could be delisted, although Devvstream would have the right to appeal. The notice and current non-compliance do not immediately affect the listing or trading of DEVS, which continues on the Nasdaq Capital Market.

DevvStream Corp. has filed a prospectus supplement covering up to 114,968,270 common shares, updating its existing S-1 prospectus with information from its definitive proxy statement. The proxy calls a virtual annual meeting on December 29, 2025 to elect five directors, hold an advisory vote on how often shareholders will vote on executive pay (the Board recommends every three years), approve a non-binding advisory “say-on-pay” vote, and ratify Davidson & Company LLP as auditor for the year ending July 31, 2026.

There were 3,841,642 common shares outstanding as of November 10, 2025Focus Impact Sponsor, LLC with 2,234,114 shares and Devvio Inc. with 720,177 shares. Davidson’s audit report on the July 31, 2025 financial statements includes an explanatory paragraph raising substantial doubt about DevvStream’s ability to continue as a going concern due to recurring operating losses, negative operating cash flows, and an accumulated deficit.

DevvStream Corp. has filed a prospectus supplement covering up to 26,419,091 common shares and updating investors with information from its latest definitive proxy statement.

The proxy calls a virtual annual meeting on December 29, 2025, with shareholders voting on re‑electing five directors, how often to hold advisory votes on executive pay (the Board recommends every three years), approving 2025 executive compensation and ratifying Davidson & Company LLP as auditor for the year ending July 31, 2026.

DevvStream reports a net loss of $12.1 million for the year ended July 31, 2025, and its auditor’s report includes an explanatory paragraph raising substantial doubt about the company’s ability to continue as a going concern due to recurring losses, negative operating cash flows and an accumulated deficit.