DJ Coinsilium Group Limited: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Coinsilium Group Limited (COIN) Coinsilium Group Limited: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 27-Jun-2025 / 12:00 GMT/BST =———————————————————————————————————————- COINSILIUM GROUP LIMITED (“Coinsilium” or the “Company”) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 COINSILIUM GROUP LIMITED STATEMENT OF THE BOARD OF DIRECTORS Coinsilium Group Limited (“Coinsilium”, the “Group” or the “Company”), the Aquis quoted digital asset venture builder, investor and adviser, is pleased to announce its Final Results for the year ended 31 December 2024. Financial Summary — Revenue for the year of GBP6,000 vs GBP37,250 in the prior year — The net fair value loss on financial assets in 2024 was GBP138,288 compared with a GBP17,289 gain in 2023 — Total Comprehensive Loss of GBP987,747 compared to a loss of GBP660,684 in 2023 — Loss for the period from continuing operations GBP987,668 compared to a loss of GBP580,472 in 2023 — Administrative expenses in the year of GBP963,800 remain fairly consistent with GBP896,246 in 2023 — Loss per share of 0.46 pence compared to a loss of 0.35 pence in 2023 — Financial assets at fair value through profit or loss amounted to GBP1,949,242 at 31 December 2024 (31 December 2023: financial assets at fair value through profit or loss of GBP2,162,782) — As at 31 December 2024 cash and cash equivalents amounted to GBP286,999 (31 December 2023: GBP283,757) — Gains on revaluation of crypto currencies held as other current assets of GBP252,364 recognised in the year compared with gain of GBP191,791 in 2023 The Directors present their report, together with the Group Financial Statements and Auditor’s Report, for the year ended 31 December 2024. The comparative period is the year ended 31 December 2023. Review of the Year Market Overview and Industry Developments – 2024 The year 2024 marked a strong resurgence in the digital asset markets, led by Bitcoin as the dominant force and primary driver of renewed investor confidence. Bitcoin’s price nearly doubled over the year, reaching a peak of approximately USD 106,000 in December 2024. This significant appreciation was fuelled by the long-anticipated approval and launch of spot Bitcoin ETFs in major markets, a marked increase in institutional allocations, and broadly supportive macroeconomic conditions. The broader cryptocurrency market followed Bitcoin’s lead, with total market capitalisation nearly doubling to reach USD 3.91 trillion in mid-December before consolidating at around USD 3.40 trillion (source: CoinGecko). Bitcoin retained its position as the most held and traded digital asset globally, underpinning the performance of the wider market and cementing its status as the bellwether for the industry. Institutional interest in Bitcoin accelerated significantly, with major asset managers, including BlackRock, expanding exposure through Bitcoin ETFs and related investment products. Bitcoin’s maturing profile as a macro asset class was further evidenced by its increasing inclusion in diversified portfolios and treasury strategies. Regulatory developments were equally noteworthy. In the U.S., the Financial Innovation and Technology for the 21st Century Act (FIT21) passed the House of Representatives, aiming to define a clearer framework for digital assets. The GENIUS Act, which advanced through the Senate, proposed a regulatory structure specifically for stablecoins, supporting broader adoption and integration. In Europe, the Markets in Crypto-Assets Regulation (MiCA) became fully applicable in December 2024, establishing a unified regulatory approach across EU member states. These measures are seen as vital steps toward institutionalising the market, particularly with regard to Bitcoin-related financial products. Venture capital investment into the crypto and blockchain sector totalled USD 2.4 billion in Q3 2024, demonstrating continued confidence in the space. Global cryptocurrency ownership rose by 13%, from 583 million in January to 659 million in December-with Bitcoin remaining the most widely held digital asset by both retail and institutional investors. North America remained the largest market by on-chain transaction volume, receiving an estimated USD 1.3 trillion between July 2023 and June 2024-much of this attributed to high-volume Bitcoin trading and investment flows. This underlines the region’s central role in the global Bitcoin economy and reinforces Bitcoin’s position as the leading digital asset shaping the trajectory of the wider crypto market. Bitcoin Market – 2024 in Review Bitcoin remained the primary driver of the digital asset market throughout 2024, delivering a standout performance and reaffirming its position as the foundational asset in the cryptocurrency ecosystem. Bitcoin opened the year at USD 44,161.95 and closed at USD 93,586.33, representing an annual gain of more than 110%. This strong upward trajectory reflected growing investor confidence and a series of transformative developments that reshaped the market landscape. Key Performance Drivers 1. Spot Bitcoin ETF Approvals In January 2024, the U.S. Securities and Exchange Commission approved the trading of 11 spot Bitcoin ETFs, marking a historic breakthrough for the asset class. These approvals enabled greater access for institutional investors and brought Bitcoin into mainstream financial portfolios. By May, BlackRock’s spot Bitcoin ETF had already amassed USD 10 billion in assets under management, underlining the scale of institutional inflows. 2. Bitcoin Halving Event On April 20, 2024, Bitcoin underwent its fourth halving event, reducing the block reward from 6.25 BTC to 3.125 BTC. This event-an integral feature of Bitcoin’s monetary policy-reinforced its deflationary supply dynamics. As seen in previous cycles, the halving contributed to increased market scarcity and was a key catalyst for price appreciation in the second half of the year. 3. Pro-Bitcoin U.S. Policy Environment The re-election of President Donald Trump ushered in a more favourable policy backdrop for digital assets. A landmark executive order announced the establishment of a strategic Bitcoin reserve, signalling a notable shift in governmental stance toward the asset. This policy momentum provided further validation of Bitcoin’s emerging role as a macroeconomic asset. 4. Institutional Adoption and Maturation Bitcoin’s growing legitimacy was further demonstrated by deepening institutional engagement. Alongside BlackRock, other major financial entities increased their Bitcoin exposure through ETF participation, custody services, and treasury strategies. This institutional presence contributed to greater liquidity, market maturity, and broader acceptance of Bitcoin as a strategic asset. Conclusion 2024 was a watershed year for Bitcoin-driven by structural supply shifts, regulatory breakthroughs, and unprecedented levels of institutional adoption. These transformative forces not only fuelled Bitcoin’s exceptional price performance but also reinforced its emergence as a global store of value and strategic financial asset. For Coinsilium, these developments laid the groundwork for the opportunity to broaden its strategic scope in a manner aligned with its digital asset heritage. In early 2025, the Company launched Forza (Gibraltar) Limited (“Forza!”), its 100%-owned Gibraltar-registered subsidiary, established to operate as a dedicated Bitcoin-focused treasury for the Company. This initiative reflects the growing strategic importance of Bitcoin in the digital asset ecosystem and is intended to enhance the Company’s resilience and growth potential without altering the core nature of its business. At the core of Forza!’s formation lies a growing – though not yet widely appreciated recognition of the fundamental distinction between Bitcoin and other cryptocurrencies. As market awareness of this difference continues to build, a key part of Forza!’s mission will be to support and promote greater education and understanding around this point. This strategic shift in focus marks the beginning of a new chapter for Coinsilium – one that we expand upon in the Outlook section that follows. Operations, Investments and Financing In 2024, Coinsilium maintained its operational focus across its investment and advisory activities, with several engagements reflecting the Company’s established position within the Web3 and digital asset sector. Strategic Advisory Activities During the year, Coinsilium entered several engagements with early-stage projects, reflecting the Company’s longstanding expertise in token model design and go-to-market strategy. Notably, the Company entered into an agreement with Stabolut Limited, a decentralised, crypto-collateralised stablecoin venture backed by Bitcoin and Ethereum. Coinsilium’s role focused on supporting the development of Stabolut’s stablecoin and governance token strategy, as well as broader ecosystem planning. The project aims to deliver a decentralised alternative to fiat-backed stablecoins through a delta-neutral derivatives mechanism and is supported by partners including Dextools and Yellow Capital. A further agreement was signed with TAND3M, a decentralised token launchpad built on the TON blockchain and developed in partnership with Web3 tools provider Liteflow. Coinsilium provided advisory support across tokenomics, partnership development, and strategic positioning. In addition, the Company entered into an advisory agreement with LC Lite (later rebranded as Nexade), a project focused on integrating decentralised technologies into the global invoice finance market. Nexade concluded its token sale in
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DJ Coinsilium Group Limited: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 -2-
December 2024, raising a total of USD 1.5 million. Coinsilium’s success fee tokens are subject to a defined vesting schedule and will be distributed over the course of that schedule. As stated when these agreements were announced to the market, the agreement terms often include a success payment, which is usually a fixed fee denominated in cryptocurrencies payable upon the successful completion of a project’s Token Generating Event (“TGE”). No revenues were recognised in the fiscal year of 2024 in relation to these agreements and the first fees in relation to these agreements are expected to be paid in the second half of 2025. Advisory Agreement post year In March 2025, Coinsilium announced a strategic advisory agreement with Context Protocol, a Layer 1 blockchain designed to power the AI economy by enabling verified AI Domains for trusted data exchange between AI agents, humans, and organizations. Coinsilium provides Context Protocol with comprehensive strategic guidance and support in the areas of tokenomics, partnerships, and market positioning. Investment Activity In July 2024, Coinsilium executed a SAFT agreement with the Otomato Web3 Automation Protocol, a project aiming to simplify complex DeFi trading strategies via a user-friendly automation layer. Under the agreement, Coinsilium secured USD 75,000 in future tokens with the option to increase its position by an additional USD 150,150. The Company also secured a revenue share of 7.5% from Otomato’s initial platform operations prior to the token listing event. While the public launch was originally targeted for Q4 2024, the Otomato team has since prioritised advanced testing and development in response to significant expressions of investment interest. Yellow Network Investment During 2024, Yellow Network – a Layer-3 decentralised clearing protocol for cross-chain crypto trading – made significant progress in advancing toward operational deployment. Coinsilium holds an early-stage investment in Yellow via a USD 200,000 SAFT agreement executed in 2022 and continues to regard the project as an important component of its portfolio, with the potential to deliver significant future value. Yellow’s technical roadmap continued to advance steadily throughout the year, with the team maintaining strong executional discipline as it works toward the launch of its live network infrastructure. The project’s core innovation lies in its trustless clearing system, which leverages state channel technology to enable real-time, cross-chain trading without custodians or intermediaries – a major step forward for decentralised market infrastructure. In September 2024, Yellow announced the successful closing of a USD 10 million seed funding round, led by Chris Larsen, Co-Founder of Ripple. This round was completed at a post-money valuation in excess of USD 200 million, representing a material uplift from Coinsilium’s entry point and underlining the market’s growing confidence in Yellow’s institutional relevance. Coinsilium is particularly encouraged by Yellow’s ability to maintain momentum through a sustained period of network development and infrastructure buildout. In a market often characterised by short-termism, the team’s continued focus on delivery and long-term execution is both impressive and reassuring. While further updates will be provided in the Outlook section of this report, it is worth noting that Yellow’s trajectory and potential for adoption in both DeFi and regulated financial markets support our expectation of meaningful long-term value creation from this investment. These activities were consistent with Coinsilium’s pre-2025 model of engaging with early stage decentralised ventures through a blend of advisory support and aligned investment. Financing On 8 March 2024, the Company completed a placing of 18.9 million new ordinary shares at 2.5 pence per share, raising GBP472,500 in gross proceeds. These funds were allocated toward general working capital and strategic investment activity. A further 3.356 million new ordinary shares were allotted in settlement of professional services, and 22.256 million warrants were issued at an exercise price of 3.75 pence, valid for a three-year term. Director participation in the subscription was as follows: Director No. of Shares Subscription Value Eddy Travia 800,000 GBP 20,000 Malcolm Palle 800,000 GBP 20,000
The financing provided the necessary operating runway during the year and facilitated the Company’s engagement with several Web3 projects, prior to the more significant structural and strategic developments that would unfold in early 2025.
The Company ended the period with the value of tradable crypto tokens of GBP480,372 and rights to future crypto tokens of GBP428,619 valued at cost. Cash and cash equivalents amounted to GBP286,999.
Director Share Purchases in 2024
During the period, the following trades were transacted on the market by directors:
Eddy Travia
Date of Purchase No Shares Price Beneficial Interest / % Subscription 8 March 2024 800,000 2.50p GBP20,000 On market purchases 9 July 2024 300,000 1.67p GBP5,010 12 August 2024 300,000 1.60p GBP4,800 Warrants exercise 23 December 2024 1,675,000 3.00p GBP50,250 16,431,702 – 7.44%
Malcolm Palle
Date of Purchase No Shares Price Beneficial Interest / % Subscription 8 March 2024 800,000 2.50p GBP20,000 On market purchases Beneficial Interest / % 9 July 2024 300,000 1.67p GBP5,010 12 August 2024 300,000 1.62p GBP4860 13,634,234 – 6.27%
Director share purchases post period
Malcolm Palle
Date of Purchase No Shares Price Beneficial Interest / % Warrants exercise 11 March 2025 1,675,000 3.00p GBP50,250 15,309,234 – 6.76%
Eddy Travia
Date of Purchase No Shares Price Beneficial Interest / % Warrants exercise 11 March 2025 1,675,000 3.00p GBP50,250 18,106,702 – 7.99%
Total Director share purchases during period and post period:
Eddy Travia: 4,750,000 shares GBP130,310
Malcolm Palle: 3,075,000 shares GBP80,120
Appointment of Joint Broker:
On 3 December 2024 the company announced the appointment of Oberon Capital as its Joint Corporate Broker.
Post Year End Financing
On 15 May 2025 Coinsilium announced it had raised GBP 1.25 million gross via a broker led placing of 41,666,657 new ordinary shares of no par value at a price of 3 pence per share. The Placing was oversubscribed. The net proceeds of the Placing has been deployed to further the development of Forza (Gibraltar) Limited, the Company’s wholly-owned vehicle dedicated to Bitcoin-based treasury activities, to fund further investments and for general working capital purposes. The Company also launched a retail offer to new and existing shareholders on the same terms as the Placing, through the Winterflood Retail Access Platform, for a further GBP250,000 in gross proceeds.
Together, these successful funding initiatives reflect strong market support for Coinsilium’s new strategic direction and provide a solid financial foundation for the Company to execute its Bitcoin-focused treasury strategy through Forza!
On 29 May 2025, Coinsilium announced the successful completion of a broker led placing, raising gross proceeds of GBP2.5 million through the issue of 41,666,700 new ordinary shares at a price of 6 pence per share. In parallel, the Company launched a WRAP Retail Offer via the Winterflood Retail Access Platform on the same terms. As announced on 02 June 2025, the WRAP Retail Offer was also substantially over subscribed (scaled back from approximately GBP2.9 million) raising an additional GBP750,000. A total of 12,500,000 new ordinary shares were issued pursuant to the WRAP Retail Offer.
The net proceeds of the Placings and WRAP retail offers will be deployed to further the development of Forza to fund further investments and general working capital.
On 16 June, Coinsilium announced the opening of a retail offer via the Winterflood Retail Access Platform to raise approximately GBP2,500,000 through the issue of new ordinary shares of the Company, at a price of 22.2 pence per share. As announced on 18 June 2025, due to a more than 400% oversubscription on the initial facility offer of GBP2.5m, the Company determined to expand the facility to GBP4m to better accommodate demand. The Company has therefore raised aggregate gross proceeds of approximately GBP4,000,000 in an offering that closed early as announced on Tuesday, 17 June 2025. The Company will issue a total of 18,018,018 new Ordinary Shares, at the Issue Price pursuant to the WRAP Retail Offer.
The net proceeds of the Placings and WRAP retail offers will be deployed to further the development of Forza to fund further investments and general working capital.
Financial Review
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DJ Coinsilium Group Limited: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 -3-
Total comprehensive income, including fair value gains and losses on financial assets and digital assets, reported a loss for the period of GBP987,747 compared to a loss of GBP660,684 in the previous year. This result is largely driven by fair value adjustments on investments of GBP(138,288) vs GBP17,289 in the prior year and impairments of rights to future tokens of GBP243,734 (2024: nil), offset by an increase in the fair value of digital asset tokens of GBP252,364 and GBP99,792 in realised gains on disposal (compared with a fair value increase in the prior year of GBP284,069.
As at 31 December 2024, cash and cash equivalents amounted to GBP286,999 (2023: GBP283,757).
Outlook and Post-Period Events
As Coinsilium looks ahead, the Company reaffirms the continuity of its core business activities while entering a significant new phase of strategic emphasis. The nature of the business – as an investor and advisor in the digital asset sector – remains fundamentally unchanged. However, recent developments in the market have led the Board to sharpen its strategic focus on Bitcoin and the operational advancement of its wholly owned subsidiary, Forza!, as a dedicated Bitcoin treasury entity for the Company.
This evolution in positioning does not represent a departure from the Company’s founding objectives, but rather an enhancement of its value proposition in response to a clear and growing opportunity. With increasing interest and attention on Companies with professionally managed Bitcoin treasury models, particularly from institutional stakeholders, the Company recognises the importance of aligning its forward-facing strategy accordingly.
Forza! is thus being developed as a complementary, high-conviction initiative under the Coinsilium umbrella – reinforcing, rather than replacing, the Company’s broader capabilities in the digital asset space. This approach ensures that the Company continues to operate within a familiar and compliant framework, with particular regard to the regulatory expectations applicable in the United Kingdom, while exploring new paths to shareholder value creation.
This directional refinement, which has accelerated materially in the post-year-end period, reflects both macro market dynamics and internal positioning, with the Board identifying a timely and distinctive opportunity to align the Company with the fast-growing Bitcoin treasury model now gaining significant traction globally.
Strategic Realignment: Forza! launched as Coinsilium’s Bitcoin Treasury Arm
Over the course of 2024 and into early 2025, market developments – including the legitimisation of spot Bitcoin ETFs, rising institutional allocations, and growing interest in Bitcoin as a reserve asset – have created a window of opportunity for companies with the operational readiness and domain expertise to establish a presence in this emerging category. Coinsilium, with its track record of digital asset engagement, market connectivity, and long-standing presence as a blockchain-focused listed company, is uniquely well positioned to seize this moment.
Forza! has therefore been launched with a clear mandate: to establish a compelling treasury model for Coinsilium centred on long-term Bitcoin accumulation. The immediate focus is to scale Forza!’s Bitcoin holdings to a level where its treasury position becomes materially significant. While yield generation remains a component of the broader strategy – with potential future applications involving Bitcoin-native optimisation techniques – such approaches will only be considered once critical mass is achieved. At this stage, disciplined accumulation remains the overriding priority.
Notably on 21 January 2025, the Company announced the appointed of James Van Straten, Senior Bitcoin Analyst at CoinDesk, as a Strategic Advisor with an emphasis on the establishment and development of Forza! His insights and sector standing reinforce Forza!’s thought leadership credentials and position the venture to engage credibly with both institutional allocators and the broader Bitcoin community.
Since its launch, Forza! has attracted significant institutional shareholder interest, underscoring recognition of both the strength of the Forza! proposition and Coinsilium’s long-standing expertise in the digital asset space. At the same time, the Company places high value on its retail shareholder base, many of whom have shown a deep appreciation for the principles underpinning Bitcoin treasury strategies. This level of understanding – particularly around the long-term rationale for professionally managed Bitcoin reserves – has been evident from the outset and continues to underpin strong and informed support for the Company’s strategic direction.
Institutional Standards: Custody, Security, and Transparency
As reported in the Company’s strategic update dated 22 May 2025, Coinsilium has begun receiving interest from institutional investors in its Bitcoin treasury strategy. Forza! has been structured from the outset to align with the operational standards institutions expect.
All Bitcoin holdings are secured with regulated custodians and benefit from industry-standard protections, including cold storage, multi-signature protocols, comprehensive insurance coverage, and independently audited procedures. These measures form part of a proactive strategy to demonstrate the robustness and credibility required to meet institutional expectations.
Capital Deployment and Strategic Focus
As a company listed on the Aquis Stock Exchange since 2015, Coinsilium has navigated multiple market cycles with consistency and discipline. The management team has demonstrated a long-term commitment to the digital asset sector, developing a deep understanding of its technologies, opportunities, and regulatory landscape. This foundation-built on early engagement, credible execution, and strategic foresight-continues to differentiate Coinsilium from newer market entrants.
To enhance its financial resilience and long-term strategic flexibility, Coinsilium has established Forza!, its wholly owned Gibraltar-registered subsidiary, as a dedicated treasury and yield strategy vehicle. Forza! has been created to support the Company’s objective of building a robust treasury reserve, with a particular focus on Bitcoin as a long-term store of value and emerging financial asset.
Importantly, Forza! operates as an integral part of Coinsilium’s corporate structure and does not represent a change in the Company’s core operational focus. Instead, it reinforces the Company’s financial foundation, enabling Coinsilium to respond more dynamically to future opportunities across the digital asset sector.
Through the strategic deployment of capital via Forza!, Coinsilium aims to deliver enhanced shareholder value-underpinned by deep sector expertise, prudent capital allocation, and a forward-looking execution strategy.
Forza! Post-Period Events: Strategic Timeline
January 2025: Coinsilium appointed James Van Straten (CoinDesk) and Clement Hecquet (Otomato) as Strategic Advisors to support the evolving Forza! strategy.
February 2025: The Company rebranded its Gibraltar registered subsidiary Nifty Labs Limited as Forza (Gibraltar) Limited, solidifying its focus on Bitcoin treasury operations. This coincided with active legal and compliance engagement through Hassans International Law Firm.
Late February 2025: Forza! launch at Bitcoin Horizons event in Gibraltar, with a keynote delivered by Forza! advisor James Van Straten, strengthening thought leadership positioning.
March 2025: Coinsilium held a strategic Q&A and operational update, preparing stakeholders for Forza!’s formal launch.
27 March 2025: Official launch of Forza! Gibraltar, featuring ministerial attendance and keynote speeches. This milestone formalised Forza!’s entry into the Bitcoin treasury landscape.
22 May 2025: Strategic update confirmed initial treasury deployment of 15 Bitcoin, inaugurating Forza!’s Bitcoin accumulation plan. Institutional engagement was also confirmed as a key driver for growth.
29 May 2025: Coinsilum provided an update on its Bitcoin treasury and its wholly owned Gibraltar subsidiary, Forza! Gibraltar Limited (“Forza!”),
Details of the Company’s Bitcoin purchase are as follows:
— Number of Bitcoin Purchased: 5.0021 — Average Purchase Price: GBP82,165.49 per Bitcoin (USD110,424.26 per Bitcoin) — Amount Purchased: GBP411,000
To date, 5.0021 Bitcoin have been purchased and a further 5 Bitcoin transferred from Coinsilium’s existing reserves, valued at today’s market rate (GBP80,121.38), bringing Forza!’s holdings to 10.0021 Bitcoin at the time of this announcement.
Details of Forza!’s Bitcoin Holdings are as follows:
— Total Bitcoin Holdings (Forza!): 10.0021 Bitcoin — Total Average Purchase Price: GBP81,143.65 per Bitcoin (USD109,017.16 per Bitcoin) — Total Value of the Bitcoin Holdings: GBP811,606.90 (USD1,090,400.50)
The Company reported that it was is in the process of formulating its Digital Assets Treasury Policy, with a specific emphasis on the treatment and strategic management of its Bitcoin holdings. This policy is currently being developed by Forza! and will be adopted upon finalisation.
6 June 2025 – Coinsilum provided an update on its Bitcoin treasury and its wholly owned Gibraltar subsidiary, Forza! Gibraltar Limited (“Forza!”),
Details of the latest Bitcoin acquisition are as follows:
— Number of Bitcoin Purchased: 3.6378 — Average Purchase Price: GBP76,969.60 per Bitcoin (USD104,251.77 per Bitcoin) — Total Purchase Amount: GBP280,000
As previously announced on 20 May 2025, the Company made an initial commitment to acquire a minimum of 15 Bitcoin for Forza!’s treasury. This acquisition process remains ongoing, and as of the date of this announcement, Forza!’s total Bitcoin holdings stand at 13.6399 Bitcoin.
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DJ Coinsilium Group Limited: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 -4-
The remaining Bitcoin under the initial minimum commitment is expected to be completed in the near term.
Summary of Forza!’s Bitcoin Holdings to Date:
— Total Bitcoin Holdings: 13.6399 Bitcoin — Aggregate Average Purchase Price: GBP80,030.42 per Bitcoin (USD107,746.21 per Bitcoin)
Total Value of Holdings: GBP1,091,606.91 (USD1,469,647.59)11 June 2025 – Coinsilium provided an update on its Bitcoin treasury activity and that of its wholly owned Gibraltar subsidiary, Forza Gibraltar Limited (“Forza!”), established to implement the Company’s dedicated Bitcoin-focused treasury operations.
Details of the latest Bitcoin acquisition are as follows:
Number of Bitcoin Purchased: 5.0416
Average Purchase Price: GBP81,323.39 per Bitcoin (USD109,954.42 per Bitcoin)
Total Purchase Amount: GBP410,000
As of the date of this announcement, Forza!’s total Bitcoin holdings stand at 18.6815 Bitcoin.
Summary of Forza!’s Bitcoin Holdings to Date:
Total Bitcoin Holdings: 18.6815 Bitcoin
Aggregate Average Purchase Price: GBP80,379.35 per Bitcoin (USD108,342.15 per Bitcoin)
Total Value of Holdings: GBP1,519,242.90 (USD2,054,113.50)
16 June 2025 – Coinsilium provided an update on its Bitcoin treasury activity and that of its wholly owned Gibraltar subsidiary, Forza Gibraltar Limited (“Forza!”), established to implement the Company’s dedicated Bitcoin-focused treasury operations.
Details of the latest Bitcoin acquisition are as follows:
Number of Bitcoin Purchased: 6.5577
Average Purchase Price: GBP77,770.36 per Bitcoin (USD105,572.30 per Bitcoin)
Total Purchase Amount: GBP510,000
As of the date of this announcement, Forza!’s total Bitcoin holdings stand at 25.2392 Bitcoin.
Summary of Forza!’s Bitcoin Holdings to Date:
Total Bitcoin Holdings: 25.2392 Bitcoin
Aggregate Average Purchase Price: GBP79,701.69 per Bitcoin (USD107,622.48 per Bitcoin)
Total Value of Holdings: GBP1,962,695.09 (USD2,662,609.40)
18 June 2025 – Coinsilium provided an update on its Bitcoin treasury activity and that of its wholly owned Gibraltar subsidiary, Forza Gibraltar Limited (“Forza!”), established to implement the Company’s dedicated Bitcoin-focused treasury operations.
Details of the latest Bitcoin acquisition are as follows:
Number of Bitcoin Purchased: 7.6539
Average Purchase Price: GBP78,391.41 per Bitcoin (USD105,539.28 per Bitcoin)
Total Purchase Amount: GBP600,000
As of the date of this announcement, Forza!’s total Bitcoin holdings stand at 32.8931 Bitcoin.
Summary of Forza!’s Bitcoin Holdings to Date:
Total Bitcoin Holdings: 32.8931 Bitcoin
Aggregate Average Purchase Price: GBP79,701.69 per Bitcoin (USD107,137.74 per Bitcoin)
Total Value of Holdings: GBP2,560,644.62 (USD3,447,193.97)
20 June 2025 – Coinsilium provided an update on its Bitcoin treasury activity and that of its wholly owned Gibraltar subsidiary, Forza Gibraltar Limited (“Forza!”), established to implement the Company’s dedicated Bitcoin-focused treasury operations.
Details of the latest Bitcoin acquisition are as follows:
Number of Bitcoin Purchased: 10.2146
Average Purchase Price: GBP78,319.27 per Bitcoin (USD105,690.46 per Bitcoin)
Total Purchase Amount: GBP800,000
As of the date of this announcement, Forza!’s total Bitcoin holdings stand at 43.1077 Bitcoin.
Summary of Forza!’s Bitcoin Holdings to Date:
Total Bitcoin Holdings: 43.1077 Bitcoin
Aggregate Average Purchase Price: GBP79,141.47 per Bitcoin (USD106,794.80 per Bitcoin)
Total Value of Holdings: GBP3,384,998.52 (USD4,566,362.88)
25 June 2025- Coinsilium provided an update on its Bitcoin treasury activity and that of its wholly owned Gibraltar subsidiary, Forza Gibraltar Limited (“Forza!”), established to implement the Company’s dedicated Bitcoin-focused treasury operations.
Details of the latest Bitcoin acquisition are as follows:
— Number of Bitcoin Purchased: 15.2080
— Average Purchase Price: GBP78,906.05 per Bitcoin (USD107,376.35 per Bitcoin)
— Total Purchase Amount: GBP1.200,000
As of the date of this announcement, Forza!’s total Bitcoin holdings stand at 58.3157 Bitcoin.
Summary of Forza!’s Bitcoin Holdings to Date:
— Total Bitcoin Holdings: 58.3157 Bitcoin
— Aggregate Average Purchase Price: GBP79,080.08 per Bitcoin (USD106,946.46 per Bitcoin) — Total Value of Holdings: GBP4,589,417.02 (USD6,243,947.72)
The developments in the post-period demonstrate rapid and well-coordinated progress, advancing Forza! from concept through active implementation and into the crucial early stages of growth. The Company now enters a scaling phase designed to establish a robust foundation from which Forza! can realise its full potential. The Board recognises the magnitude of the opportunity ahead and is focused on ensuring that the infrastructure and strategic positioning are in place to support accelerated expansion. This is a pivotal moment, and we are committed to maximising the value of what we believe is a uniquely timed and highly scalable proposition.
Regulatory Developments and Market Environment
In June 2025, the Financial Conduct Authority (FCA) announced its intention to lift the current ban on the sale of cryptoasset exchange-traded notes (ETNs) to retail investors, subject to a formal consultation process. This represents a notable step towards the normalisation of regulated access to digital asset investment products in the UK, and reflects a broader shift in regulatory attitudes towards more inclusive and structured participation in the digital asset space.
For Coinsilium, this development affirms its longstanding view that Bitcoin and other digital assets are increasingly being recognised as legitimate components of modern financial strategies. The FCA’s move signals a maturing regulatory landscape in the UK and may lead to new opportunities for responsible market participation, aligned with Coinsilium’s strategic positioning.
It is important to note, however, that an investment in Coinsilium Group Limited is not an investment in Bitcoin, either directly or by proxy. The Company maintains a diversified portfolio of strategic investments across the digital asset sector, including equity interests in blockchain, fintech, and related technology ventures. Coinsilium’s exposure to Bitcoin-implemented through its wholly owned subsidiary Forza! Gibraltar Limited-forms part of a broader capital allocation and treasury resilience strategy, and is not the sole focus of the business.
The Company continues to take a measured, governance-driven approach to capital deployment, aiming to deliver shareholder value through the compliant execution of its Bitcoin treasury strategy and full adherence to applicable regulations. As a participant in the rapidly advancing digital asset economy, Coinsilium recognises the importance of clear and effective regulatory frameworks. We remain hopeful that regulatory clarity will continue to develop in a direction that supports innovation, safeguards market integrity, and aligns with the growing institutionalisation of the sector. Coinsilium is committed to operating at the forefront of this evolution, anticipating the standards that will shape the industry’s future.
Outlook: Yellow Network
Following year-end, on 13 May 2025, Coinsilium provided a strategic update on its investment in Yellow Network, a Layer-3 decentralised clearing infrastructure protocol for cross-chain cryptocurrency trading noting that the launch of the USDYELLOW token, anticipated to occur within a 60-day period from mid-May, will mark a major milestone in the project’s lifecycle and represents a potentially significant liquidity event for early investors, including Coinsilium. The forthcoming launch is the culmination of consistent progress made throughout 2024 and signals the transition of Yellow Network from technical development into live operational deployment.
Coinsilium anticipates that the successful launch and adoption of Yellow Network could deliver substantial value for shareholders, demonstrating the Company’s ability not only to identify high-potential opportunities at an early stage, but also to execute strategically to secure long-term value for the Company and its shareholders.
Further updates on Yellow Network will be provided as the token launch progresses, and the network enters its next phase of adoption and growth.
Broker Appointment: Oak Securities
In recognition of the need to scale visibility and executional capacity in this next phase, Coinsilium announced the appointment of Oak Securities as its corporate broker on 22 May 2025. Oak Securities brings deep capital markets experience and is already demonstrating its ability to effectively support the Company’s objective of expanding institutional shareholder exposure. The Company is pleased with the progress to date and views this appointment as a key step in strengthening Forza!’s positioning within the institutional investment landscape.
The Company ended the period with the value of tradable crypto tokens of GBP480,372 and rights to future crypto tokens of GBP428,619 valued at cost. Cash and cash equivalents amounted to GBP286,999. Following the year end, the Company undertook a strategic financing raising approx. GBP4.75m before costs as noted above.
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DJ Coinsilium Group Limited: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 -5-
The Board remains resolute in its commitment to realising the full value potential of Forza!, the Company’s wholly owned Bitcoin treasury subsidiary, while also continuing to develop the inherent value within its existing portfolio of enterprises and investments. Against the backdrop of accelerating institutional adoption and the rapid global emergence of the Bitcoin treasury model, this is a transformational period for Coinsilium. The Company approaches the remainder of the year with a strong sense of purpose and excitement, while remaining fully attuned to the evolving regulatory landscape. With a clear understanding of current frameworks and a readiness to respond to changes as they arise, the Company is navigating this environment with diligence, ensuring its strategy remains both forward-looking and fully compliant.
Finally, the Board extends its sincere thanks to our valued shareholders, partners, and team members for their continued support and belief in our vision. We are entering a truly seminal period for the digital asset industry, and Coinsilium is proud to be at the forefront of this transformation. With strong momentum behind us and a clear path ahead, we look forward to sharing further developments and what we believe will be an exciting cadence of progress updates throughout the remainder of the year and beyond.
Eddy Travia
Chief Executive Officer
26 June 2025
The Directors of Coinsilium Group Limited take responsibility for this announcement.
Coinsilium Group Limited +350 2000 8223 Malcolm Palle, Executive Chairman +44 (0)7785 381 089 Eddy Travia, Chief Executive http://www.coinsilium.com Peterhouse Capital Limited +44 (0)20 7469 0930 (AQUIS Growth Market Corporate Adviser and Corporate Broker) SI Capital Limited (Joint Broker) +44 (0)1483 413 500 Nick Emerson Oberon Capital (Joint Broker) +44 (0)20 3179 5300 Nick Lovering, Adam Pollock OAK Securities (Joint Broker) Tel. +44 (0) 20 3973 3678 Damion Carruel, Calvin Man
Investee Companies Update
Indorse
Throughout 2024, in addition to its Web3 projects, such as the development of a smart contract-powered advertising platform in collaboration with AADS (one of the largest and longest established Crypto/Bitcoin advertising networks), Indorse has pursued its collaboration with Singapore-based corporations and organisations such as Ngee Ann Polytechnic.
Indorse also started the development of AI tools and resources to complement its suite of software development training programs.
Management’s assessment of the fair value of this investment has reflected the strategic re-alignment of the company in the year away from legacy projects towards the above opportunities, resulting in a reversal of previously assessed fair value increases to hold the investment at original cost at the year end. The Company will further assess the fair value of the investment at future reporting dates.
Carrying Value in GBP as at 31 December 2024: GBP263,699 (2023: GBP852,492)
Coindash Limited (formerly Blox Staking)
As of December 31, 2024, Coindash Limited’s main product, the SSV Network, has experienced significant growth in its staking metrics:
. ETH Staked on SSV Network: Approximately 817,664 ETH
. Total Value Locked (TVL) on SSV Network: Over USD2.8 billion
. SSV Network validators: 25,552
. SSV Network operators: 630
These figures represent a substantial increase for the SSV Network from the April 2024 statistics (mentioned in Coinsilium Group’s interim accounts), which reported 600,000 ETH staked, 1,833 validators, and 391 operators. The growth underscores the rising adoption of Distributed Validator Technology (DVT) within the Ethereum ecosystem.
Notably, by the end of 2024, the SSV Network was securing approximately 4.7% of all staked ETH on Ethereum, highlighting its expanding role in the staking infrastructure.
This expansion is further supported by the network’s transition to a permissionless model, allowing any operator or validator to join, and the introduction of SSV 2.0, which enables validators to secure off-chain services known as “based applications.”
The value of the Company’s stake in Coindash Limited has been re-assessed to reflect the team’s success in supporting advanced blockchain projects and the value of Coindash’s digital assets treasury holdings.
Carrying Value in GBP as at 31 December 2024: GBP632,307 (2023: GBP176,744)
Elevate Health
Elevate Health has evolved into a ‘DeSci’ (Decentralised Science) project, specifically a platform designed to decentralise and reward its members for the collection and access to data, research, and treatment in preventative healthcare with a focus on sleep quality as a core tenet of a healthy lifestyle.
Coinsilium Group’s interest has in the year been novated from an equity investment into a right to future tokens and hence the cost of the investment has been reclassified in the year into “other current assets” to reflect this commercial arrangement.
Carrying Value in GBP as of 31 December 2024: Nil (2023: GBP78,553)
Arcadian Youth Pte Ltd (formerly known as “StartupToken”)
Arcadian Youth has pivoted towards developing a Web3 Real World Asset (“RWA”) tokenization platform, focusing on the real estate market in Bali. Bali’s real estate sector is highly active with a large volume of transactions, generating extensive data and attracting real estate agents as well as personal and professional investors. The application called “Propex” is in its latest stages of development, with a full stack and Web3 technical team based in Indonesia. More information can be found at https://home.propex.app/.
Carrying Value at 31 Dec 2024: GBP360,905 (2023: GBP360,905)
Greengage Global Holding Ltd
Greengage and Coinbase Collaboration: Greengage announced its collaboration with Coinbase to issue tokenised private credit. Greengage will originate SME debt utilising Coinbase’s innovative Diamond protocol, a smart contract-powered platform designed to bring greater efficiency and transparency to the private credit market.
By leveraging Coinbase’s state-of-the-art blockchain technology, Greengage aims to enhance SMEs’ ability to secure capital, empowering them to operate and scale their businesses more effectively. This collaboration underscores the growing potential for blockchain-driven solutions to transform traditional financial markets.
Abu Dhabi expansion: In September 2024, Greengage announced its acceptance into Cohort 15 of Hub71, Abu Dhabi’s global tech ecosystem. Hub71 is a flagship initiative of the AED 50 billion Ghadan 21 economic accelerator programme, backed by the Government of Abu Dhabi and Mubadala Investment Company, a leading sovereign investor managing a diverse portfolio to generate sustainable financial returns. Strategically located in Abu Dhabi, Hub71 empowers companies like Greengage to scale globally by providing access to international markets, a robust capital ecosystem, and a global network of strategic partners.
By joining Hub71’s “Digital Assets” stream, Greengage will benefit from its focus on unleashing the disruptive potential of Web3 and digital assets while operating within the regulated environment of Abu Dhabi Global Market (ADGM). This acceptance not only enhances Greengage’s corporate and regulatory profile but also significantly increases its access to capital by attracting top-tier venture capital funds and investors. Hub71 further supports Greengage’s setup and growth with a generous incentives programme of up to AED 750,000, reinforcing its ability to scale effectively within the evolving digital finance landscape.
Investment terms:
In 2021, Coinsilium purchased 15,000 A Shares in the capital of Greengage for GBP300,000.
Coinsilium also subscribed for GBP200,000 of convertible loan notes which converted in June 2023 into 11,094 A shares and 7,510 warrants. At that date, Coinsilium joined Greengage’s funding round with an investment of GBP25,000 for 1,039 A shares.
Consilium’s total shareholdings in Greengage: 27,133 A shares and 8,370 warrants.
Carrying Value in GBP as at 31 December 2024: GBP652,537 (2023: GBP652,537)
Silta Finance
In February 2024, the Asian Development Bank (ADB), Asia’s largest multilateral development bank, engaged Silta Finance to pilot the development of an AI technology stack. This technology significantly accelerates the due diligence and ESG assessment processes for infrastructure projects.
The Silta AI stack is a sophisticated assessment and reporting platform that transforms complex analytical tasks. The system can process thousands of documents simultaneously, evaluating them against comprehensive predetermined criteria and questions. Its advanced capabilities include cross-referencing findings against a precedents database while enriching the analysis with web-based intelligence. The platform then synthesises this information into detailed, customised reports tailored to specific client requirements. While initially deployed for infrastructure finance due diligence, the technology’s versatility enables its application across multiple sectors, including mergers and acquisitions, real estate evaluation, research analysis, supply chain assessments, and venture capital investment screening.
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DJ Coinsilium Group Limited: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 -6-
In its first revenue year, 2024, Silta Finance is tracking to achieve approximately USD1M USD in sales. Looking ahead to 2025, the company is in the process of securing USD2.5M USD in its order book and continues to build a growing pipeline of potential customers from the banking sector.
Carrying Value in GBP as at 31 December 2024: GBP39,793 (2023: GBP41,551)
Otomato
The Otomato Web3 Agent Protocol (‘Otomato’) is a protocol that empowers users to create autonomous agents that seamlessly manage both on-chain and off-chain tasks with no coding required.
The Otomato platform is designed to streamline Web3 interactions through advanced automation and seamless integration. Offering a comprehensive suite of functionalities-including DeFi management, yield optimisation, portfolio tracking, NFT sniping, gaming automations, real-time notifications, and workflow integrations-Otomato enhances efficiency and accessibility across industries such as gaming, entertainment, and finance.
Otomato’s Expanding Use Cases
Otomato has identified over 1,500 real-world applications for its Web3 automation platform, demonstrating its versatility across various sectors. Some key use cases include:
DeFAi (DeFi + AI) Agents – Automating portfolio rebalancing based on real-time yield fluctuations in crypto assets.
Social Agents – Enabling on-chain actions triggered by social media posts on X, creating dynamic and responsive engagement mechanisms.
Cross-Chain Arbitrage – Executing trades across Ethereum-compatible blockchains, capitalizing on market inefficiencies in real-time.
These use cases highlight Otomato’s role in enhancing automation, efficiency, and profitability across Web3 ecosystems.
Post-period update
Otomato Enters First Deployment Phase
In February 2025, Otomato officially commenced the first phase of the launch of the Otomato.xyz platform, the flagship application of its Web3 agent protocol, open to whitelisted users. This milestone marked a significant step forward in Otomato’s roadmap, ensuring the platform’s readiness ahead of its full public launch.
As part of its pre-launch strategy, Otomato secured strategic partnerships with multiple Layer 2 blockchains and Decentralised Finance (DeFi) platforms, strengthening its ecosystem. A key collaboration with Ironclad Finance, a lending platform on MODE Network, an Ethereum Layer 2 blockchain with more that 367k users, enables Otomato users to monitor lending markets for optimal yield opportunities and execute automated actions based on stablecoin performance.
The Otomato team captured the spotlight by securing first place in the competitive Proof of Pitch competition at NFT Paris, one of Europe’s leading crypto conferences, held on February 13 and14, 2025.
In April 2025, Otomato announced a partnership with Somnia Network, a fast EVM (Ethereum Virtual Machine) Layer 1 blockchain.
Mint Blocks to operate the Propex application
In February 2025, Arcadian Youth Pte Ltd’s director and main shareholder, registered a new entity in the State of Wyoming, Mint Blocks LLC, for the purpose of operating the Propex application, a Web3 Real World Asset (“RWA”) tokenization platform, focusing on the real estate market in Bali.
Coinsilium’s Strategic Investment in Otomato
Coinsilium holds a strategic investment in the Otomato Web3 Automation Protocol, reinforcing its commitment to the growth and development of the platform. As announced on 3 July 2024, this investment was made through a USD 75,000 Simple Agreement for Future Tokens (“SAFT”) in the “Early Backers” round, with an option to acquire an additional USD 150,150 in future protocol tokens, subject to a vesting schedule.
In addition to its investment, Coinsilium has the rights to earn 7.5% of all revenues generated by the Otomato.xyz platform up to the Token Listing Event (“TGE”). These revenues will primarily be derived from affiliate fees on automated actions executed through integrated protocols, as well as transaction fees for interactions initiated via the platform.
Coinsilium’s Ongoing Collaboration with Otomato
Coinsilium maintains an active strategic collaboration with Otomato, which aims to leverage its advanced automation technologies to enhance efficiencies across blockchain and digital asset management. As announced 2 January 2025, this partnership includes the integration of Otomato’s automation capabilities to optimise Coinsilium’s digital asset treasury holdings.
Additionally, as announced on 21 January 2025 Otomato’s co-founder, Clement Hecquet, now serves as Strategic Advisor to Coinsilium, contributing to the refinement and execution of the Company’s cryptocurrency treasury strategy.
Going Concern
In considering the Group’s ability to continue in operation for the foreseeable future, the Directors have considered the forecast operating cash-flows up to the end of 30 June 2026, along with the expectations of additional cash investments into digital token projects which remain entirely in the Company’s control.
As at the reporting date, the Company had GBP296k in cash reserves and GBP484k in readily convertible digital asset tokens. Furthermore, the Company successfully raised a total of GBP8.75m (before expenses) following the reporting period through two private placements of new ordinary shares and two oversubscribed follow-on retail offerings as announced 15 May 2025 and 29 May 2025 respectively and a retail offering on 17 June 2025.
As the Directors have continued to maintain a high level of control over operating expenditures throughout the period, which it feels remains appropriate given the current size of the business, operating cashflows to 30 June 2026, along with expectations of additional digital asset token investments, are projected to be substantially met from existing cash resources (including post period end cash raised via the private placement and retail offering) without the need for significant reliance on realisation of readily convertible digital asset tokens in the Company portfolio, which remains available for any additional investment deemed advantageous over this period, or any further additional funding activity.
As a consequence, the Directors have a reasonable expectation that the Group and Company have adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Principal Risks and Uncertainties
The management of the business and the execution of the Group’s strategy are subject to a number of risks. The key business risks affecting the Group are set out below.
Risks are formally reviewed by the Board, and appropriate processes are put in place to monitor and mitigate them. If more than one event occurs, it is possible that the overall effect of such events would compound the adverse effects on the Group.
Loss in value of Investments Risk
Investments are generally made in early stage companies and carry a risk of losing value. Early stage companies have a high risk of failure and the Group seeks to limit these risks by a thorough assessment of the management teams, the technology and the opportunities in the companies’ target markets. Throughout our investment holding period we monitor a company’s progress and stay in regular communication with the company’s management teams.
Cyber Risk
The Company holds digital assets via software and hardware which may prove to be vulnerable to data security breaches in the future. Data security breach incidents may compromise the confidentiality, integrity or availability of data such that the data is vulnerable to access or acquisition by unauthorised persons. These data security breaches may result in the unrecoverable loss of digital assets. The Group’s hardware devices and remote servers holding the Group’s data may be breached and result in the loss of valuable data.
Cryptocurrency Price Volatility
Revenues for NFT and TGE related Advisory Services and bonuses payable in relation to equity investments are normally denominated in cryptocurrency or tokens from the issuing entity. These ‘digital assets’ can be subject to high levels of volatility and it may not always be possible for the Group to trade out or effectively hedge its position. The Group will always seek to manage the price volatility risk and actively monitors its portfolio of digital assets.
Cryptocurrency exchange rates have exhibited strong volatility. Many factors outside of the control of the Group can affect the market price of cryptocurrencies, including, but not limited to, national and international economic, financial, regulatory, political, terrorist, military, and other events, adverse or positive news events and publicity,
and generally extreme, uncertain, and volatile market conditions. Extreme changes in price may occur at any time, resulting in a potential loss of value of our entire portfolio of cryptocurrencies, complete or partial loss of purchasing power, and difficulty or a complete inability to sell or exchange our digital currency.
Financial Risk Management
The Group’s operations expose it to a variety of financial risks that include the effect of changes in foreign currency exchange rates, credit risk and liquidity risk. The Group has a risk management programme in place that seeks to limit the adverse effects on the financial performance of the Group. The Group does not use derivative financial instruments to manage foreign exchange risk and, as such, no hedge accounting is applied.
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DJ Coinsilium Group Limited: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 -7-
The main financial risk for the Group is any significant changes in foreign exchange rate risk as the Group holds cash assets in various currencies other than British Pounds and holds equity stakes in companies in various currencies as well. The main currencies to which the Group is exposed are the Euro and US dollar. Details of the Group’s financial risk management policies are set out in Note 3 to the Financial Statements.
Provision of information to Auditors
So far as each of the Directors is aware at the time this report is approved:
— There is no relevant audit information of which the Company’s auditor is unaware; and — The Directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit
information and to establish that the auditor is aware of that information.
Auditor
The auditor, PKF Littlejohn LLP have indicated their willingness to continue in office as auditor, and a resolution that they be re-appointed will be proposed at the Annual General Meeting.
This report was approved by the Board on 26 June 2025 and signed on its behalf:
Eddy Travia
Chief Executive Officer
Extract from Auditors Report
“Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group’s or Parent Company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
London E14 4HD
COINSILIUM GROUP LIMITED GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
2024 2023 Note GBP GBP Continuing Operations Revenue from contracts with customers 5 6,000 37,250 Gross Profit 6,000 37,250 Administration expenses 6 (963,800) (896,244) 9 Net fair value (loss)/gain on financial assets at fair value through profit or loss (138,288) 17,289 Impairment of financial assets 5 (243,734) – Unrealised gain on crypto tokens at fair value 13 252,364 191,791 Realised gain on disposal of crypto tokens 99,790 69,442 Operating (Loss) (987,668) (580,472) Finance income 22 842 1,010 Investment income 22 – 3,699 Forex gain or (loss) (921) (84,921) Profit before Taxation (987,747) (660,684) Income tax 23 – – Profit for the year (987,747) (660,684) Total Comprehensive Income for the year attributable to owners of the Parent Company (987,747) (660,684) Earnings per share in pence from continuing operations attributable to owners of the Parent – Basic & Diluted 24 (0.464p) (0.352p)
COINSILIUM GROUP LIMITED
STATEMENTS OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
Group Company 31 December 2024 31 December 2023 31 December 2024 Note 31 December 2023 GBP GBP GBP GBP Non-Current Assets Intangible assets 7 120,220 120,220 1,860 1,860 Property, plant and equipment 8 808 1,039 – – Financial assets at fair value through profit or loss 360,905 360,905 9 1,949,242 2,162,782 Investment in subsidiaries 10 – – 1,644,333 1,644,333 Intercompany loans 10 – – 1,195,727 2,200,125 2,070,270 2,284,041 3,202,825 4,207,223 Current Assets Trade and other receivables 11 58,947 107,738 32,489 75,865 Cash and cash equivalents 12 286,999 283,757 133,343 150,444 Other current assets 13 957,655 966,716 480,372 466,341 1,303,601 1,358,211 646,204 692,650 Total Assets 3,373,871 3,642,252 3,849,029 4,899,873 Equity attributable to owners of the Parent Share capital 16 – – – – Share premium 16 9,232,304 8,658,154 9,232,304 8,658,154 Share option reserve 17 402,918 353,991 402,918 353,991 Other reserves 504,114 504,114 – – Retained losses (6,962,644) (5,976,196) (5,915,670) (4,192,668) Total equity attributable to owners of the Parent 3,176,692 3,719,552 4,819,477 3,540,063 Current Liabilities Trade and other payables 14 197,179 102,189 129,476 80,396 Total Liabilities 197,179 102,189 129,476 80,396 Total Equity and Liabilities 3,373,871 3,642,252 3,849,028 4,899,873
The Financial Statements were approved and authorised for issue by the Board of Directors on 26 June 2025 and were signed on its behalf by:
Eddy Travia
Chief Executive Officer
COINSILIUM GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
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DJ Coinsilium Group Limited: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 -8-
FOR THE YEAR ENDED 31 DECEMBER 2024
GROUP Attributable to Equity Shareholders Share Share Share option Other Retained Total capital premium reserve reserves losses GBP GBP GBP GBP GBP GBP As at 31 December 2022 – 8,344,974 677,064 504,114 (5,731,435) 3,794,717 Loss for the year – – – – (660,684) (660,684) Total comprehensive income – – – – (660,684) (660,684) Issue of shares – 355,650 – – – 355,650 Issue of warrants – (35,330) 35,330 – – – Issue of share options – – 57,520 – – 57,520 Cost of issuing shares – (7,140) – – – (7,140) Lapsed or expired share-based payments – – (415,923) – 415,923 – Total transactions with owners – 313,180 (323,073) – 415,923 406,030 recognised directly in equity As at 31 December 2023 – 8,658,154 353,991 504,114 (5,976,196) 3,540,063 Loss for the year – – – – (987,747) (987,747) Total comprehensive income – – – – (987,747) (987,747) Issue of warrants – – 50,226 – – 50,226 Issue of shares – 571,400 – – – 571,400 Cost of issuing shares – (16,250) – – – (16,250) Exercise of warrants – 19,000 (1,299) – 1,299 19,000 Total transactions with owners – 574,150 48,927 – 1,299 624,376 recognised directly in equity As at 31 December 2024 – 9,232,304 402,918 504,114 (6,962,644) 3,176,692
COINSILIUM GROUP LIMITED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
PARENT COMPANY Attributable to Equity Shareholders Share capital Share premium Share option Retained Total reserve losses GBP GBP GBP GBP GBP As at 1 January 2023 – 8,344,974 677,064 (4,220,117) 4,801,921 Profit for the year – – – (388,474) (388,474) Total comprehensive income for the year – – – (388,474) (388,474) Issue of share options – – 57,520 – 57,520 Issue of warrants – (35,330) 35,330 – – Issue of shares – 355,650 – – 355,650 Cost of issuing shares (7,140) – – (7,140) Lapsed or expired share-based payments – – (415,923) 415,923 – Total transactions with owners recognised directly in equity – 313,180 (323,073) 406,030 415,923 As at 31 December 2023 – 8,658,154 353,991 (4,192,668) 4,819,477 Loss for the year – – – (1,724,301) (1,724,301) Total comprehensive income for the year – – – (1,724,301) (1,724,301) Issue of warrants – – 50,226 – 50,226 Issue of shares – 571,400 – – 571,400 Cost of issuing shares – (16,250) – – (16,250) exercise of warrants – 19,000 (1,299) 1,299 19,000 Total transactions with owners recognised – 574,150 48,927 1,299 624,376 directly in equity As at 31 December 2024 – 9,232,304 402,918 (5,915,670) 3,719,552
COINSILIUM GROUP LIMITED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
Group Company 2024 2023 2024 2023 Note GBP GBP GBP GBP Cash flows from operating activities Profit before taxation (987,747) (660,684) (1,724,300) (388,474) Adjustments for: Finance income (842) (1,010) (842) (1,010) Depreciation and amortisation 231 984 – – Accrued investment income – (3,699) – – Share based payments 6 50,226 57,520 50,226 57,520 Provision for loans to subsidiaries – – 1,004,398 192,851 Unrealised gain on crypto tokens at FV 13 (252,364) (261,233) (252,364) 11,870 Realised gain on crypto tokens (99,790) – – – Decrease / (increase) in financial assets at fair value through profit or loss 9 – – 138,288 (17,289) Impairment of financial assets 243,734 – 3,764 –
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