STOCK TITAN

[424B3] Damon Inc. Prospectus Filed Pursuant to Rule 424(b)(3)

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
424B3
Rhea-AI Filing Summary

Damon has filed a prospectus supplement updating three previous prospectuses regarding: (1) an offering of 126.9M units (each comprising one common share and one Series A Warrant), (2) resale of 1.01M common shares, and (3) resale of 18.51M common shares.

Key developments include:

  • Auditor Change: CBIZ CPAs P.C. replaced Marcum LLP as the independent registered public accounting firm on June 17, 2025, following CBIZ's acquisition of Marcum's attest business
  • Going Concern: Marcum's 2024 audit report included a going concern warning
  • Material Weaknesses: Identified in internal controls, including ineffective financial reporting processes and lack of personnel with U.S. GAAP expertise
  • Trading Status: Delisted from Nasdaq as of May 20, 2025; now trading on OTC Pink Market under "DMNIF" at $0.0009 per share

Damon ha depositato un supplemento al prospetto aggiornando tre precedenti prospetti riguardanti: (1) un'offerta di 126,9 milioni di unità (ciascuna composta da un'azione ordinaria e un warrant Serie A), (2) la rivendita di 1,01 milioni di azioni ordinarie, e (3) la rivendita di 18,51 milioni di azioni ordinarie.

Sviluppi chiave includono:

  • Cambio di Revisore: CBIZ CPAs P.C. ha sostituito Marcum LLP come società di revisione contabile indipendente il 17 giugno 2025, a seguito dell'acquisizione da parte di CBIZ del ramo attest di Marcum
  • Continuità Aziendale: Il rapporto di revisione 2024 di Marcum includeva un avviso di continuità aziendale
  • Debolezze Materiali: Identificate nei controlli interni, inclusi processi di rendicontazione finanziaria inefficaci e mancanza di personale esperto in US GAAP
  • Stato di Negoziazione: Delistata dal Nasdaq dal 20 maggio 2025; ora quotata sul mercato OTC Pink con il simbolo "DMNIF" a 0,0009$ per azione

Damon ha presentado un suplemento al prospecto que actualiza tres prospectos anteriores relacionados con: (1) una oferta de 126,9 millones de unidades (cada una compuesta por una acción común y un warrant Serie A), (2) la reventa de 1,01 millones de acciones comunes, y (3) la reventa de 18,51 millones de acciones comunes.

Desarrollos clave incluyen:

  • Cambio de Auditor: CBIZ CPAs P.C. reemplazó a Marcum LLP como firma independiente de auditoría pública registrada el 17 de junio de 2025, tras la adquisición por parte de CBIZ del negocio de certificación de Marcum
  • Continuidad Operativa: El informe de auditoría 2024 de Marcum incluía una advertencia sobre la continuidad operativa
  • Debilidades Materiales: Identificadas en controles internos, incluyendo procesos de reporte financiero ineficaces y falta de personal con experiencia en US GAAP
  • Estado de Negociación: Eliminada del Nasdaq a partir del 20 de mayo de 2025; ahora cotiza en el mercado OTC Pink bajo el símbolo "DMNIF" a $0.0009 por acción

Damon은 이전 세 개의 투자설명서를 업데이트하는 보충 투자설명서를 제출했습니다: (1) 1억 2,690만 단위(각 단위는 보통주 1주와 시리즈 A 워런트 1주로 구성), (2) 101만 보통주 재판매, (3) 1,851만 보통주 재판매.

주요 내용은 다음과 같습니다:

  • 감사인 변경: CBIZ CPAs P.C.가 2025년 6월 17일 Marcum LLP를 대신하여 독립 등록 공인회계법인으로 지정되었으며, 이는 CBIZ가 Marcum의 증명 업무를 인수한 데 따른 것임
  • 계속기업 우려: Marcum의 2024년 감사보고서에 계속기업 우려 경고 포함
  • 중대한 약점: 내부 통제에서 식별됨, 비효율적인 재무보고 절차 및 미국 일반회계기준(US GAAP) 전문 인력 부족 포함
  • 거래 상태: 2025년 5월 20일부로 나스닥 상장 폐지; 현재 "DMNIF"라는 심볼로 OTC 핑크 마켓에서 주당 0.0009달러에 거래 중

Damon a déposé un supplément au prospectus mettant à jour trois prospectus précédents concernant : (1) une offre de 126,9 millions d’unités (chacune composée d’une action ordinaire et d’un warrant Série A), (2) la revente de 1,01 million d’actions ordinaires, et (3) la revente de 18,51 millions d’actions ordinaires.

Les développements clés comprennent :

  • Changement d’auditeur : CBIZ CPAs P.C. a remplacé Marcum LLP en tant que cabinet d’audit indépendant enregistré le 17 juin 2025, suite à l’acquisition par CBIZ de l’activité d’attestation de Marcum
  • Continuité d’exploitation : Le rapport d’audit 2024 de Marcum comportait un avertissement sur la continuité d’exploitation
  • Faiblesses importantes : Identifiées dans les contrôles internes, notamment des processus de reporting financier inefficaces et un manque de personnel expert en US GAAP
  • Statut de cotation : Retirée du Nasdaq au 20 mai 2025 ; désormais cotée sur le marché OTC Pink sous le symbole « DMNIF » à 0,0009 $ par action

Damon hat einen Prospektergänzungsbericht eingereicht, der drei frühere Prospekte aktualisiert bezüglich: (1) eines Angebots von 126,9 Mio. Einheiten (jeweils bestehend aus einer Stammaktie und einem Series A Warrant), (2) dem Wiederverkauf von 1,01 Mio. Stammaktien und (3) dem Wiederverkauf von 18,51 Mio. Stammaktien.

Wesentliche Entwicklungen umfassen:

  • Wechsel des Abschlussprüfers: CBIZ CPAs P.C. ersetzte am 17. Juni 2025 Marcum LLP als unabhängige registrierte Wirtschaftsprüfungsgesellschaft, nach der Übernahme des Bestätigungsbereichs von Marcum durch CBIZ
  • Fortführungsprognose: Marcums Prüfungsbericht 2024 enthielt einen Fortführungszweifelhinweis
  • Materielle Schwächen: Identifiziert in den internen Kontrollen, einschließlich ineffektiver Finanzberichterstattungsprozesse und fehlendem Personal mit Expertise in US-GAAP
  • Handelsstatus: Seit dem 20. Mai 2025 vom Nasdaq delistet; nun Handel am OTC Pink Market unter dem Symbol "DMNIF" zu 0,0009 USD pro Aktie
Positive
  • None.
Negative
  • The company has been delisted from Nasdaq and is now trading on the OTC Pink Market as of May 20, 2025, indicating significant compliance or financial issues
  • The stock price has fallen to an extremely low level of $0.0009 per share, suggesting severe financial distress
  • The audit report included a going concern warning, indicating substantial doubt about the company's ability to continue operations
  • Material weaknesses were identified in internal controls, including ineffective financial reporting processes and lack of personnel with US GAAP expertise
  • The company is trading as a penny stock on the OTC markets, which typically means reduced liquidity and higher investment risk

Damon ha depositato un supplemento al prospetto aggiornando tre precedenti prospetti riguardanti: (1) un'offerta di 126,9 milioni di unità (ciascuna composta da un'azione ordinaria e un warrant Serie A), (2) la rivendita di 1,01 milioni di azioni ordinarie, e (3) la rivendita di 18,51 milioni di azioni ordinarie.

Sviluppi chiave includono:

  • Cambio di Revisore: CBIZ CPAs P.C. ha sostituito Marcum LLP come società di revisione contabile indipendente il 17 giugno 2025, a seguito dell'acquisizione da parte di CBIZ del ramo attest di Marcum
  • Continuità Aziendale: Il rapporto di revisione 2024 di Marcum includeva un avviso di continuità aziendale
  • Debolezze Materiali: Identificate nei controlli interni, inclusi processi di rendicontazione finanziaria inefficaci e mancanza di personale esperto in US GAAP
  • Stato di Negoziazione: Delistata dal Nasdaq dal 20 maggio 2025; ora quotata sul mercato OTC Pink con il simbolo "DMNIF" a 0,0009$ per azione

Damon ha presentado un suplemento al prospecto que actualiza tres prospectos anteriores relacionados con: (1) una oferta de 126,9 millones de unidades (cada una compuesta por una acción común y un warrant Serie A), (2) la reventa de 1,01 millones de acciones comunes, y (3) la reventa de 18,51 millones de acciones comunes.

Desarrollos clave incluyen:

  • Cambio de Auditor: CBIZ CPAs P.C. reemplazó a Marcum LLP como firma independiente de auditoría pública registrada el 17 de junio de 2025, tras la adquisición por parte de CBIZ del negocio de certificación de Marcum
  • Continuidad Operativa: El informe de auditoría 2024 de Marcum incluía una advertencia sobre la continuidad operativa
  • Debilidades Materiales: Identificadas en controles internos, incluyendo procesos de reporte financiero ineficaces y falta de personal con experiencia en US GAAP
  • Estado de Negociación: Eliminada del Nasdaq a partir del 20 de mayo de 2025; ahora cotiza en el mercado OTC Pink bajo el símbolo "DMNIF" a $0.0009 por acción

Damon은 이전 세 개의 투자설명서를 업데이트하는 보충 투자설명서를 제출했습니다: (1) 1억 2,690만 단위(각 단위는 보통주 1주와 시리즈 A 워런트 1주로 구성), (2) 101만 보통주 재판매, (3) 1,851만 보통주 재판매.

주요 내용은 다음과 같습니다:

  • 감사인 변경: CBIZ CPAs P.C.가 2025년 6월 17일 Marcum LLP를 대신하여 독립 등록 공인회계법인으로 지정되었으며, 이는 CBIZ가 Marcum의 증명 업무를 인수한 데 따른 것임
  • 계속기업 우려: Marcum의 2024년 감사보고서에 계속기업 우려 경고 포함
  • 중대한 약점: 내부 통제에서 식별됨, 비효율적인 재무보고 절차 및 미국 일반회계기준(US GAAP) 전문 인력 부족 포함
  • 거래 상태: 2025년 5월 20일부로 나스닥 상장 폐지; 현재 "DMNIF"라는 심볼로 OTC 핑크 마켓에서 주당 0.0009달러에 거래 중

Damon a déposé un supplément au prospectus mettant à jour trois prospectus précédents concernant : (1) une offre de 126,9 millions d’unités (chacune composée d’une action ordinaire et d’un warrant Série A), (2) la revente de 1,01 million d’actions ordinaires, et (3) la revente de 18,51 millions d’actions ordinaires.

Les développements clés comprennent :

  • Changement d’auditeur : CBIZ CPAs P.C. a remplacé Marcum LLP en tant que cabinet d’audit indépendant enregistré le 17 juin 2025, suite à l’acquisition par CBIZ de l’activité d’attestation de Marcum
  • Continuité d’exploitation : Le rapport d’audit 2024 de Marcum comportait un avertissement sur la continuité d’exploitation
  • Faiblesses importantes : Identifiées dans les contrôles internes, notamment des processus de reporting financier inefficaces et un manque de personnel expert en US GAAP
  • Statut de cotation : Retirée du Nasdaq au 20 mai 2025 ; désormais cotée sur le marché OTC Pink sous le symbole « DMNIF » à 0,0009 $ par action

Damon hat einen Prospektergänzungsbericht eingereicht, der drei frühere Prospekte aktualisiert bezüglich: (1) eines Angebots von 126,9 Mio. Einheiten (jeweils bestehend aus einer Stammaktie und einem Series A Warrant), (2) dem Wiederverkauf von 1,01 Mio. Stammaktien und (3) dem Wiederverkauf von 18,51 Mio. Stammaktien.

Wesentliche Entwicklungen umfassen:

  • Wechsel des Abschlussprüfers: CBIZ CPAs P.C. ersetzte am 17. Juni 2025 Marcum LLP als unabhängige registrierte Wirtschaftsprüfungsgesellschaft, nach der Übernahme des Bestätigungsbereichs von Marcum durch CBIZ
  • Fortführungsprognose: Marcums Prüfungsbericht 2024 enthielt einen Fortführungszweifelhinweis
  • Materielle Schwächen: Identifiziert in den internen Kontrollen, einschließlich ineffektiver Finanzberichterstattungsprozesse und fehlendem Personal mit Expertise in US-GAAP
  • Handelsstatus: Seit dem 20. Mai 2025 vom Nasdaq delistet; nun Handel am OTC Pink Market unter dem Symbol "DMNIF" zu 0,0009 USD pro Aktie

Filed Pursuant to Rule 424(b)(3)

Registration No. 333-285981

Registration No. 333-285872

Registration No. 333-282359

Registration No. 333-284324

 

Prospectus Supplement No. 8

(to Prospectus dated March 20, 2025)

Prospectus Supplement No. 18

(to Prospectus dated November 12, 2024)

Prospectus Supplement No. 11

(to Prospectus dated February 6, 2025)

 

Damon INC.

 

Offering of 126,900,000 Units, Each Unit Consisting of One Common Share and One Series A Warrant, and

126,900,000 Common Shares* Underlying Series A Warrants and 6,345,000 Common Shares* Underlying

Underwriter’s Warrants

Resale of Up to 1,015,383 Common Shares by the Selling Securityholders
Resale of Up to 18,514,579 Common Shares by the Selling Securityholders

 

This prospectus supplement is being filed to update and supplement information contained in (i) the prospectus dated March 20, 2025 related to the offering of 126,900,000 units, each unit consisting of one common share, no par value (“common shares”) and one Series A Warrant (“Series A Warrant”), of Damon Inc., a British Columbia corporation (“Damon”), and 126,900,000 common shares (*or a greater amount pursuant to an alternate cashless exercise option in accordance with the terms of the warrants) underlying the Series A Warrants and 6,345,000 common shares (*or a greater amount pursuant to an alternate cashless exercise option in accordance with the terms of the warrants) underlying the Underwriter’s Warrants, (ii) the prospectus dated November 12, 2024 related to the resale of up to 1,015,383 common shares of Damon, and (iii) the prospectus dated February 6, 2025 related to the to the resale of up to 18,514,579 common shares of Damon (together, the “Prospectuses”), with the information contained in our Current Report on Form 8-K, filed with the Securities and Exchange Commission (the “SEC”) on June 18, 2025 (the “Current Report”). Accordingly, we have attached the Current Report to this prospectus supplement.

 

This prospectus supplement updates and supplements the information in the Prospectuses and is not complete without, and may not be delivered or utilized except in combination with, the Prospectuses, including any amendments or supplements thereto. This prospectus supplement should be read in conjunction with the Prospectuses and if there is any inconsistency between the information in the Prospectuses and this prospectus supplement, you should rely on the information in this prospectus supplement.

 

Our common shares are traded on the OTC Pink Current Market under the symbol “DMNIF”. On June 18, 2025, the closing price of our common shares was $ 0.0009 per share.

 

Investing in our securities involves risks. See the sections titled “Risk Factors” of the Prospectuses and in any applicable prospectus supplement.

 

Neither the Securities and Exchange Commission nor any other regulatory body have approved or disapproved these securities, or passed upon the accuracy or adequacy of this prospectus supplement. Any representation to the contrary is a criminal offense.

 

The date of this prospectus supplement is June 18, 2025.

 

 

 

 

 

United States

Securities and Exchange Commission

Washington, D. C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 17, 2025

 

DAMON INC.

(Exact name of registrant as specified in its charter)

 

British Columbia   001-42190   N/A
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

4601 Canada Way, Suite #402
Burnaby, BC
  V5G 4X7
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (236) 326-3619

 

Not Applicable
(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

  

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class   Trading Symbol(s)   Name of Each Exchange on Which Registered
Common Shares   DMN*   The Nasdaq Stock Market LLC*

 

* As previously reported, The Nasdaq Stock Market LLC has determined to delist the Company’s common shares, and has suspended its trading as of May 20, 2025. The Company’s common shares are currently quoted on the OTC Pink Current Market, operated by OTC Markets Group, Inc., under the symbol “DMNIF.”

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 4.01 Changes in Registrant’s Certifying Accountant.

 

On November 1, 2024, CBIZ CPAs P.C. (“CBIZ CPAs”) acquired the attest business of Marcum LLP (“Marcum”). Accordingly, on June 17, 2025, solely as a result of the acquisition, Marcum resigned as the independent registered public accounting firm of Damon Inc. (the “Company”) and, with the approval of the audit committee of the Company’s board of directors, CBIZ CPAs was engaged as the Company’s independent registered public accounting firm on the same date.

 

The audit report of Marcum on the Company’s consolidated financial statements as of and for the fiscal year ended June 30, 2024 did not contain an adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainty, audit scope, or accounting principles, except for the inclusion of an explanatory paragraph as to the Company’s ability to continue as a going concern. The audit of the Company’s consolidated financial statements as of June 30, 2023 and for the fiscal year then ended was performed by another independent registered accounting firm.

 

During the period of Marcum’s 2024 engagement, and the subsequent interim period through June 17, 2025, the date of Marcum’s resignation, there were (a) no “disagreements” (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) with Marcum on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of Marcum, would have caused Marcum to make reference to such disagreement in its report and (b) no “reportable events” (as defined in Item 304(a)(1)(v) of Regulation S-K), except for the previously disclosed identification of material weaknesses in the Company’s internal control over financial reporting relating to ineffective controls over period end financial disclosure and reporting processes, including ineffective monitoring activities to assess the operation of internal controls over financial reporting and lack of sufficient controls designed and implemented for financial information processing and reporting and lacked personnel with requisite skills for financial reporting under U.S. GAAP.

 

During the period of Marcum’s 2024 engagement, and the subsequent interim period through June 17, 2025, neither the Company nor anyone on the Company’s behalf consulted with CBIZ CPAs regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or regarding the type of audit opinion that might be rendered by CBIZ CPAs on the Company’s financial statements, or (ii) any matter that was either the subject of a “disagreement” (as defined in Item 304(a)(1)(iv) of Regulation S- K and the related instructions) or a “reportable event” (as defined in Item 304(a)(1)(v) of Regulation S-K).

 

The Company provided Marcum with a copy of this Current Report on Form 8-K prior to its filing with the Securities and Exchange Commission (the “SEC”) and requested that Marcum furnish the Company with a letter addressed to the SEC, pursuant to Item 304(a)(3) of Regulation S-K, stating whether it agrees with the above statements and, if it does not agree, the respects in which it does not agree. A copy of the letter from Marcum, dated June 18, 2025, is filed as Exhibit 16.1 to this Current Report on Form 8-K.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits:

 

Exhibit No.   Description
16.1   Letter from Marcum.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: June 18, 2025 DAMON, INC.
     
  By: /s/ Bal Bhullar
    Bal Bhullar
    Chief Financial Officer

 

 

2

 

FAQ

Why did DMN change its auditor in June 2025?

DMN's auditor changed on June 17, 2025, because CBIZ CPAs P.C. acquired the attest business of Marcum LLP. As a result, Marcum resigned and CBIZ CPAs was engaged as DMN's new independent registered public accounting firm, with approval from the audit committee.

What were the material weaknesses identified in DMN's internal controls?

DMN disclosed material weaknesses in internal controls including: 1) ineffective controls over period end financial disclosure and reporting processes, 2) ineffective monitoring activities to assess internal controls, 3) lack of sufficient controls for financial information processing and reporting, and 4) lack of personnel with requisite U.S. GAAP financial reporting skills.

What is DMN's current stock trading status and price as of June 2025?

As of June 18, 2025, DMN's common shares were delisted from Nasdaq (suspended since May 20, 2025) and are now trading on the OTC Pink Current Market under symbol 'DMNIF' with a closing price of $0.0009 per share.

What is the size of DMN's securities offering in their 2025 prospectus?

DMN's offering includes 126,900,000 units (each consisting of one common share and one Series A Warrant), 126,900,000 common shares underlying Series A Warrants, 6,345,000 common shares underlying Underwriter's Warrants, and the resale of up to 19,529,962 additional common shares by selling securityholders.

Were there any disagreements between DMN and Marcum LLP before the auditor change?

No, during Marcum's 2024 engagement through June 17, 2025, there were no disagreements on accounting principles, practices, financial statement disclosure, or auditing procedures that would have caused Marcum to reference such disagreements in their report.
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