Monitor the November 18, 2026 annual meeting outcome; the Ault group's 40.8% stake gives it significant influence over the six proposals, particularly the dilutive convertible note conversion and super-voting share authorization.
Price Chart
Executive Summary
DeFi Capital Markets filed a DEFA14A supplement to correct a typographical error in the proxy card's director numbering for the November 18, 2026 annual meeting. The filing does not change any proposals or modify the contested proxy statement filed on October 20, 2026, which seeks approval for a dilutive convertible note conversion, authorization of 25M blank-check preferred shares and 25M super-voting Class B common shares, and re-election of two Class I directors. The correction is administrative and has no substantive impact on the contested vote.
Key Financial Metrics
Key Facts
- DEFA14A filed on October 26, 2026 to correct a typographical error in the proxy card's director numbering for the November 18, 2026 annual meeting.
- All other information in the October 20, 2026 proxy statement remains correct and unchanged.
- The board unanimously recommends a vote FOR all six proposals, including director election, ratification of auditor, authorization of 25M preferred shares, authorization of 25M Class B common shares, approval of convertible note issuance, and adjournment.
- The Ault/Hyperscale Data group holds approximately 40.8% beneficial ownership and has been actively accumulating shares through open-market purchases.
- The company reported a net loss of $2.486M for FY2026 versus a $501K profit in FY2025.
Financial Impact
No financial impact from this administrative correction; the underlying proxy proposals involve potentially dilutive convertible note conversion (up to 46.7% dilution) and authorization of 25M preferred and 25M super-voting Class B shares.
Risk Factors
- Potential approval of dilutive convertible note conversion (up to 46.7% dilution) and super-voting Class B shares could significantly dilute existing common shareholders.
- Activist Ault group with 40.8% beneficial ownership may seek to consolidate control through the proposed super-voting share structure.
- Company's deteriorating financial performance (net loss of $2.486M in FY2026 vs profit of $501K in FY2025) raises going concern risk.
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFA14A Filing (Primary) | 0001104659-26-118787 |
| Document: 0001104659-26-118787-index-headers.html | 0001104659-26-118787 |
| Document: 0001104659-26-118787-index.html | 0001104659-26-118787 |
| Document: 0001104659-26-118787.txt | 0001104659-26-118787 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | S-3 | $3.57 | awaiting T+1 | — | $3.59 (−0.56%) |
Oct 26, 2026 1d ago | DEFA14A | $3.57 | awaiting T+1 | — | $3.59 (+0.56%) |
Oct 20, 2026 7d ago | DEF 14A | $4.06 $3.85 | ▲ +5.17% | ▲ +3.99% | $3.59 (+11.58%) |
Oct 1, 2026 26d ago | SC 13D/A | $4.88 $4.72 | ▼ −3.28% | ▼ −3.95% | $3.59 (−26.43%) |
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