Zeta Network Group (ZNB) Form 20-F — Oct 19, 2026
Zeta Network Group filed its FY2026 20-F with substantial doubt about its ability to continue as a going concern, citing a US$157.5 million net loss, a US$412.7 million accumulated deficit, and negative operating cash flows. The company's crypto mining business ran a gross loss of about US$5.3 million (US$28.4 million revenue vs US$33.7 million cost), and it recognized US$114 million of impairments on its SolvBTC treasury holdings, which made up roughly 88.9% of total assets via a receivable tied to a failed token swap.
Key figures
- Revenue
- 28400000
- Total Debt
- 0
- Total Assets
- 0
- Cash Position
- 0
- Shares Outstanding
- 628,761 Class A ordinary shares and 1 Class B share as of June 30, 2026
- Reverse splits
- ["40-for-1 (Sep 2022)","100-for-1 (Nov 2024)","25-for-1 (Aug 2025)","100-for-1 (Feb 2026)","8-for-1 (Jul 2026)","further 8-for-1 approved Sep 2026"]
- Gross loss mining
- approximately US$5.3 million (revenue ~US$28.4M vs cost of revenue ~US$33.7M)
- Accumulated deficit
- approximately US$412.7 million
- Prior year net loss
- approximately US$43.0 million (FY2025)
- Warrants exercisable
- up to 2,462,209 shares (~49.2% of Class A outstanding) at US$2.0318
- August 2026 placement
- 3,412,970 units at US$2.93/unit, US$10,000,002.10 agreed value paid in ~156.6533 SolvBTC
- Solvbtc held sep 2026
- approximately 2,156.6533 SolvBTC (~33.9% of total SolvBTC supply)
- Crypto impairment fy2026
- US$114,021,240
- Btc kz term loan outstanding
- US$8,593,101
- Convertible notes outstanding
- US$2,457,548.54 principal
- Solvbtc 30day avg daily volume
- approximately US$66,000 (as of Oct 13, 2026)
- Crypto receivable pct total assets
- approximately 88.9%
- Convertible notes gross proceeds march 2026
- US$5.4 million (US$6.0M principal)
AI analysis
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