Abaxx continues to refute Viceroy's reports

Executive Summary

• Abaxx Technologies Inc. is publicly refuting allegations made by Viceroy Research Group, characterizing the reports as a defamatory "short-and-distort" campaign designed to profit from share price manipulation.
• The company has proactively engaged regulators (CIRO and MAS) and retained Paul, Weiss, Rifkind, Wharton & Garrison LLP to investigate potential market manipulation and defamation related to Viceroy's trading activity.
• Abaxx reaffirms its strong financial position and operational growth, highlighting a $97 million cash balance, a 7-quarter capital runway, and significant month-over-month increases in trading volume and open interest on its exchange.

Key Details

• Regulatory & Legal Outreach: Contacted the Canadian Investment Regulatory Organization (CIRO) and the Monetary Authority of Singapore (MAS) to report Viceroy's allegations and request investigations into potentially manipulative or deceptive trading activity.
• Legal Representation: Retained Paul, Weiss, Rifkind, Wharton & Garrison LLP to investigate wrongdoing related to Viceroy's campaign and trading in Abaxx's common shares.
• Financial Position & Runway: Holds over $97 million in cash and cash equivalents as of June 2026; average net cash burn rate of $12.3 million over the past two quarters; sufficient to finance current operational plans for approximately seven quarters without additional fundraising.
• Exchange Compliance & Governance: Wash trading is explicitly prohibited under Rule 508; maintains a robust market surveillance program aligned with regulatory requirements; disciplinary proceedings per Rule 209 apply to violations; confirms no undisclosed related parties participate in market making or liquidity provider programs.
• Ecosystem Expansion: 11 Independent Software Vendors (ISVs) connected (5 in pipeline); 7 clearing firms connected (14 in pipeline); 22 brokers connected (10 in pipeline).
• Trading Activity Metrics (June vs. May 2026): Average daily volume increased to 16,846 contracts/day (up 12% from May's 15,092); average daily open interest increased to 1,343 (up 232% from May's 405).
• Corporate Structure & Subsidiaries: Majority shareholder of Abaxx Singapore (owner of Abaxx Exchange and Abaxx Clearing); parent to Abaxx Spot (physically backed gold pool in Singapore for electronic trading and OTC transfers) and Adaptive Infrastructure (Barbados-regulated custodial, settlement, and transfer agency services); Abaxx Labs develops open-source ID++ technologies.