# TON STRATEGY COMPANY (TONX) · Edgar & Edgarette company card

> Ton Strategy Company (TONX) grew revenue 1328% in FY2025 to $13 million, operating margin -285% against a -6.4% median for finance services, equity 98.9% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1566610 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/TONX) · [JSON](https://www.pops4.com/boards/company/TONX.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $13M |
| Revenue growth, 1 year | 1327.8% |
| Revenue growth per year | 5.0% |
| Operating margin | -285.2% (prior year -1301.0%) |
| Net margin | -1161.9% |
| Operating cash flow | −$21M |
| Capital spending | $88,000 |
| Free cash flow | −$21M |
| Cash | $39M |
| Long-term debt | — |
| Total assets | $411M |
| Total equity | $406M |
| Equity ÷ assets | 98.9% |
| Return on equity | -36.5% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Piotroski F: 4 of 9 (middling)
- Health Harbor boat: Old boat · three warning signs · operating cash flow was negative; operating loss: a margin of -285.2% in FY2025; revenue is hard to predict: its 80% range is ±47%
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $12.8M (FY2025). Experience: revenue up 1327.8% on the year, up 5.0% a year over 4 years; operating margin -285.2%, up from -1301.0%. Soundness: equity 98.9% of assets, return on equity -36.5%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $97.9M and $270.3M next year (method v4.1: its own 2-year record of growth weighed at 25% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $91.3M to $290.5M. A statistical range, not company guidance. Against peers (36 filers, $50M+ revenue, finance services): operating margin -285.2% against a -6.4% median; growth 1327.8% against 16.8%.

Range logged 2026-09-29, receipt 484055af670f0c2b, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 3.01 Exchange listing notice or transfer: 1, latest 2026-06-23 ([filing](https://www.sec.gov/Archives/edgar/data/1566610/000149315226029781/0001493152-26-029781-index.htm))
- Item 5.02 Director or officer change: 5, latest 2026-08-17 ([filing](https://www.sec.gov/Archives/edgar/data/1566610/000149315226038746/0001493152-26-038746-index.htm))

## Recent filings

- 8-K · filed 2026-09-16 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1566610/000149315226042920/0001493152-26-042920-index.htm)
- 8-K · filed 2026-08-17 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1566610/000149315226038746/0001493152-26-038746-index.htm)
- 10-Q · filed 2026-08-11 · [filing](https://www.sec.gov/Archives/edgar/data/1566610/000149315226037002/0001493152-26-037002-index.htm)
- 8-K · filed 2026-08-11 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1566610/000149315226036987/0001493152-26-036987-index.htm)
- 8-K · filed 2026-08-10 · 1.02 Termination of a Material Definitive Agreement; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1566610/000149315226036859/0001493152-26-036859-index.htm)
- 8-K · filed 2026-07-01 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1566610/000149315226031538/0001493152-26-031538-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001566610.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1566610

## Cite

POPS4, Edgar & Edgarette: TON STRATEGY COMPANY (TONX) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/TONX. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.