Here are the 10-K annual reports from FG Nexus Inc. (FGNX) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow FGNX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FGNX filings page.
FG Nexus Inc. filed Amendment No. 1 to its annual report for the year ended December 31, 2025 to update Part III, covering directors, executive officers, corporate governance, executive and director compensation, security ownership, equity plans, related-party transactions, and auditor information. The amendment does not change the previously filed financial statements or other disclosures and should be read together with the original report.
The filing details a nine-member board, with six independent directors and combined Chairman/CEO roles, committee structures, risk and cybersecurity oversight, insider trading and hedging prohibitions, and director attendance. It also outlines 2025 pay and bonuses for senior executives, equity awards including warrants linked to digital asset initiatives, severance protections, equity plan change-in-control mechanics, significant related-party arrangements with affiliated entities, and share ownership by major holders and management as of early 2026.
Nexus Inc. filed its annual report describing a major strategic pivot toward an Ethereum-focused digital asset treasury and tokenization business, while exiting legacy operations such as reinsurance and certain entertainment assets.
In 2025 the company raised significant capital through a private placement of pre-funded warrants, receiving approximately $176.0 million in cash (about $168.6 million net) and cryptocurrency totaling about $24.0 million. Nexus then accumulated ETH; as of December 31, 2025, it held 40,093 ETH with an estimated fair value of $119.4 million, and by March 23, 2026 its digital asset portfolio, including ETH and WSETH, had an estimated fair value of roughly $64.6 million.
The company also executed a 1-for-5 reverse stock split effective February 13, 2026, established a CVR trust to hold legacy assets, and completed the staged sale of its reinsurance business in exchange for released collateral, a 40% equity interest in the buyer and a $1.3 million promissory note. Nexus adopted aggressive capital management programs, authorizing up to $200 million of common share repurchases and a preferred share buyback, and had repurchased about 2.2 million common shares for approximately $34.9 million and around 202 thousand Series A preferred shares for roughly $5.0 million by March 23, 2026.
The report details extensive ETH- and crypto-related risks, including extreme price volatility, evolving regulation, potential classification of ETH as a security, Investment Company Act considerations, custody and smart contract vulnerabilities, and operational demands of an ETH staking and treasury strategy. Management emphasizes that the business now depends heavily on ETH markets and that the common stock may trade at a premium or discount to the value of underlying digital assets.