Latest news with #Oblong
Globe and Mail
5 days ago
- Business
- Globe and Mail
Oblong Profit Jumps 92 Percent
Key Points Net loss (GAAP) narrowed to $0.61 million from $0.98 million year-over-year in Q2 2025. Gross profit (GAAP) nearly doubled to 38.5% in Q2 2025, despite revenue remaining nearly flat compared to Q2 2024. Cash and equivalents totaled $10.8 million as of June 30, 2025. These 10 stocks could mint the next wave of millionaires › Oblong (NASDAQ:OBLG), a developer of collaboration technology, reported its second quarter 2025 earnings on August 14, 2025. The most significant news was a steady revenue figure compared to the same period last year, but a substantial improvement in key financial measures. Net loss (GAAP) narrowed to $0.61 million from $0.98 million year-over-year in Q2 2025, and Gross profit (GAAP) rose sharply to $228,000 from $120,000 year-over-year in Q2 2025. There are no analyst estimates or consensus forecasts for this period. Overall, despite flat revenue, the quarter marked a turning point as the company pivoted away from its traditional technology business toward a new strategy in digital assets and decentralized artificial intelligence. About Oblong: Business Model and Recent Focus Oblong is a technology company with a legacy in collaboration hardware and software. Its Mezzanine product line provides visual collaboration systems for meeting rooms and distributed teams. These solutions are designed to allow multiple participants to share and work on content together across different locations. In the past year, the company's primary focus has shifted dramatically. It is moving away from selling traditional technology products and is building a digital asset treasury centered on TAO tokens, which are part of the Bittensor decentralized artificial intelligence ecosystem. Key factors for its future success include its ability to generate income from digital assets, manage costs, and navigate the risk of relying on both a new strategy and a highly concentrated customer base. Q2 2025: Key Developments and Performance Drivers The quarter's financial story centered on expense reduction and a move toward digital asset investment. Net loss (GAAP) narrowed as operating costs—particularly in sales, marketing, and research and development—declined sharply year-over-year in Q2 2025. Research and development spending (GAAP) fell to $3,000 from $65,000 year-over-year in Q2 2025. Sales and marketing expenses (GAAP) dropped to $6,000 from $57,000 year-over-year in Q2 2025. General and administrative costs decreased to $902,000 from $1,016,000 year-over-year in Q2 2025, supporting a lower overall cost base and helping reduce operating loss. Gross profit (GAAP) nearly doubled year-over-year in Q2 2025. This increase in profitability was achieved even as revenue remained unchanged, with a net loss of $0.7 million for Q1 2025 (GAAP) compared to $1.1 million for Q1 2024, and revenue of $0.6 million in both periods. Revenue performance showed stagnation, highlighting continued headwinds for the legacy Mezzanine product family in a declining in-person collaboration technology market. The company remains exposed to a highly concentrated customer base; in 2024, a single customer accounted for 84.9% of all revenue. Oblong made a substantial investment in digital assets during the quarter, shifting its strategy. By June 30, 2025, it had purchased $1.7 million worth of TAO tokens, all of which were staked—committed to support the Bittensor network and, in return, earn yield. As of Q2 2025, $1.7 million in TAO tokens was reported on the balance sheet. This move is aimed at creating a new source of revenue and value as the company seeks to establish itself in the world of decentralized artificial intelligence. On the capital markets front, the company strengthened its financial footing by raising $6.9 million through a private placement and $1.3 million from warrant exercises in Q2 2025, plus an additional $0.9 million from warrant exercises after Q2 2025. As of June 30, 2025, Oblong held $10.8 million in cash and cash equivalents, and $1.7 million in TAO holdings. This increase in cash contrasts with the company's position at the end of 2024, when cash and cash equivalents (GAAP) stood at $4.97 million as of December 31, 2024. With no debt and total stockholders' equity rising from $4.0 million as of December 31, 2024, to $11.3 million as of June 30, 2025, the company enters the next quarter in a more stable financial state. Looking Forward: Management Outlook and Investor Watchpoints Management did not provide quantitative financial guidance for either revenue or profit. Instead, it indicated a continued commitment to growing its digital asset strategy, particularly within the Bittensor ecosystem. Weekly TAO purchases and exploration of new partnerships are the main initiatives mentioned for the near future. No outlook was offered on expected operating results or dividend policy for upcoming quarters and the year. Oblong does not currently pay a dividend. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,062%* — a market-crushing outperformance compared to 185% for the S&P 500. 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Globe and Mail
5 days ago
- Business
- Globe and Mail
Oblong Reports Q2 2025 Results and Expands $8M TAO Treasury to Power Decentralized AI
Oblong, Inc. (Nasdaq: OBLG) ('Oblong' or the 'Company'), a digital asset treasury company, today announced financial results for the second quarter ended June 30, 2025 ('Q2 2025') and significant progress in its treasury strategy centered on Bittensor's TAO token. With artificial intelligence projected to reach a $1.2 trillion market by 2030, Oblong is pioneering a treasury strategy that leverages TAO to drive financial returns and decentralized AI innovation. Bittensor's network, powered by over 500 active nodes, incentivizes collaborative AI development, positioning TAO as a critical asset for forward-thinking companies. 'Oblong's $8.0 million investment in 21,613 TAO tokens, all staked in the Bittensor network, generates revenue while strengthening our role in the decentralized AI ecosystem,' said Pete Holst, CEO of Oblong. 'Our strategy positions us at the forefront of AI-driven finance, delivering value through strategic treasury management.' Q2 2025 Financial and Strategic Highlights Strong Financial Position: As of June 30, 2025, Oblong held $10.8 million in cash and cash equivalents, $1.7 million in TAO holdings, and zero debt. TAO Treasury Expansion: Invested $1.7 million in Q2 2025 to acquire 5,025 TAO tokens, followed by $6.35 million post-Q2 to purchase 16,506 additional tokens, totaling 21,613 tokens, all staked to generate revenue and support Bittensor's decentralized AI network. Capital Raising: Secured $6.9 million from a private placement and $1.3 million from common warrant exercises in Q2 2025, with an additional $0.9 million from warrant exercises post-Q2. Revenue and Loss: Generated $0.6 million in revenue, consistent with Q2 2024, with a net loss of $0.6 million, improved from $1.0 million in Q2 2024. Adjusted EBITDA loss was $0.7 million, improved from $1.0 million in Q2 2024 (see 'Non-GAAP Financial Information' below). Strategic Outlook: Committed to evaluating weekly TAO purchases and exploring partnerships to develop AI-driven technologies within the Bittensor ecosystem, aligning treasury and operational goals. Strategic Vision Oblong's TAO treasury delivers value to investors through potential share price growth driven by strategic asset management, to TAO holders by enhancing Bittensor's ecosystem, and to the AI community by advancing decentralized innovation. As corporations increasingly adopt digital assets, Oblong leads by integrating AI and finance through TAO's unique role in Bittensor's growing network. Non-GAAP Financial Information Adjusted EBITDA is a non-GAAP financial measure. See 'GAAP to Non-GAAP Reconciliation' below for a reconciliation to net loss. About Oblong, Inc. Oblong (Nasdaq: OBLG) is building a robust cryptocurrency treasury focused on decentralized artificial intelligence (AI) and the acquisition of $TAO, the native cryptocurrency of Bittensor, a decentralized blockchain network for machine learning and AI. By championing open-source intelligence, Oblong offers unmatched opportunities for retail and institutional investors. Forward-looking and cautionary statements This press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that Oblong assumes, plans, expects, believes, intends, projects, estimates, or anticipates (and other similar expressions) will, should, or may occur in the future are forward-looking statements. Oblong's actual results may differ materially from its expectations, estimates, and projections, and consequently, you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to the Company's plans to: i) deliver value through strategic treasury management and ii) explore partnerships to develop AI-driven technologies within the Bittensor ecosystem, aligning treasury and operational goals. The forward-looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties, including the volatility of market price for our securities, that may cause actual results in future periods to differ materially from such statements. A list and description of these and other risk factors can be found in the Company's Annual Report on Form 10-K for the year ending December 31, 2024, the Company's Form 10-Q filed on August 14, 2025 and in other filings made by the Company with the SEC from time to time. Any of these factors could cause Oblong's actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company can give no assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update, or revise any information contained herein. June 30, 2025 December 31, 2024 ASSETS (unaudited) Current assets: Cash and cash equivalents $ 10,795 $ 4,965 Digital assets 1,683 — Accounts receivable, net 15 186 Prepaid expenses and other current assets 566 118 Total current assets 13,059 5,269 Other assets 5 6 Total assets $ 13,064 $ 5,275 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable 122 105 Accrued expenses and other current liabilities 1,659 1,131 Deferred revenue 31 36 Total current liabilities 1,812 1,272 Total liabilities 1,812 1,272 Commitments and contingencies (see Note 9) Stockholders' equity: Preferred stock Series F, convertible; $0.0001 par value; $390,000 stated value; 5,000,000 shares authorized, 355 and 545 shares issued and outstanding as of June 30, 2025, and December 31, 2024, respectively — — Common stock; $0.0001 par value; 150,000,000 shares authorized, 1,594,953 and 1,594,764 shares issued and outstanding as of June 30, 2025, respectively, and 1,144,926 and 1,144,737 shares issued and outstanding as of December 31, 2024, respectively — — Treasury Stock, 189 common shares (181 ) (181 ) Additional paid-in capital 244,984 236,458 Accumulated deficit (233,551 ) (232,274 ) Total stockholders' equity 11,252 4,003 Total liabilities and stockholders' equity $ 13,064 $ 5,275 OBLONG, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in thousands) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Revenue $ 592 $ 611 $ 1,214 $ 1,237 Cost of revenue 364 491 737 1,120 Gross profit 228 120 477 117 Operating expenses: Research and development 3 65 6 115 Sales and marketing 6 57 14 111 General and administrative 902 1,016 1,831 2,093 Total operating expenses 911 1,138 1,851 2,319 Operating loss (683 ) (1,018 ) (1,374 ) (2,202 ) Interest income, net 47 44 73 92 Unrealized gain on digital assets 31 — 31 — Other income, net 78 44 104 92 Loss before income taxes (605 ) (974 ) (1,270 ) (2,110 ) Income tax expense — 9 7 9 Net loss $ (605 ) $ (983 ) $ (1,277 ) $ (2,119 ) GAAP to Non-GAAP Reconciliation: Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net loss $ (605 ) $ (983 ) $ (1,277 ) $ (2,119 ) Other income, net (78 ) (44 ) (104 ) (92 ) Income tax expense — 9 7 9 Stock-based compensation — 31 - 62 Adjusted EBITDA loss $ (683 ) $ (987 ) $ (1,374 ) $ (2,140 )
Business Wire
6 days ago
- Business
- Business Wire
Oblong Reports Q2 2025 Results and Expands $8M TAO Treasury to Power Decentralized AI
DENVER--(BUSINESS WIRE)--Oblong, Inc. (Nasdaq: OBLG) ('Oblong' or the 'Company'), a digital asset treasury company, today announced financial results for the second quarter ended June 30, 2025 ('Q2 2025') and significant progress in its treasury strategy centered on Bittensor's TAO token. With artificial intelligence projected to reach a $1.2 trillion market by 2030, Oblong is pioneering a treasury strategy that leverages TAO to drive financial returns and decentralized AI innovation. Bittensor's network, powered by over 500 active nodes, incentivizes collaborative AI development, positioning TAO as a critical asset for forward-thinking companies. 'Oblong's $8.0 million investment in 21,613 TAO tokens, all staked in the Bittensor network, generates revenue while strengthening our role in the decentralized AI ecosystem,' said Pete Holst, CEO of Oblong. 'Our strategy positions us at the forefront of AI-driven finance, delivering value through strategic treasury management.' Q2 2025 Financial and Strategic Highlights Strong Financial Position: As of June 30, 2025, Oblong held $10.8 million in cash and cash equivalents, $1.7 million in TAO holdings, and zero debt. TAO Treasury Expansion: Invested $1.7 million in Q2 2025 to acquire 5,025 TAO tokens, followed by $6.35 million post-Q2 to purchase 16,506 additional tokens, totaling 21,613 tokens, all staked to generate revenue and support Bittensor's decentralized AI network. Capital Raising: Secured $6.9 million from a private placement and $1.3 million from common warrant exercises in Q2 2025, with an additional $0.9 million from warrant exercises post-Q2. Revenue and Loss: Generated $0.6 million in revenue, consistent with Q2 2024, with a net loss of $0.6 million, improved from $1.0 million in Q2 2024. Adjusted EBITDA loss was $0.7 million, improved from $1.0 million in Q2 2024 (see 'Non-GAAP Financial Information' below). Strategic Outlook: Committed to evaluating weekly TAO purchases and exploring partnerships to develop AI-driven technologies within the Bittensor ecosystem, aligning treasury and operational goals. Strategic Vision Oblong's TAO treasury delivers value to investors through potential share price growth driven by strategic asset management, to TAO holders by enhancing Bittensor's ecosystem, and to the AI community by advancing decentralized innovation. As corporations increasingly adopt digital assets, Oblong leads by integrating AI and finance through TAO's unique role in Bittensor's growing network. Non-GAAP Financial Information Adjusted EBITDA is a non-GAAP financial measure. See 'GAAP to Non-GAAP Reconciliation' below for a reconciliation to net loss. About Oblong, Inc. Oblong (Nasdaq: OBLG) is building a robust cryptocurrency treasury focused on decentralized artificial intelligence (AI) and the acquisition of $TAO, the native cryptocurrency of Bittensor, a decentralized blockchain network for machine learning and AI. By championing open-source intelligence, Oblong offers unmatched opportunities for retail and institutional investors. Forward-looking and cautionary statements This press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that Oblong assumes, plans, expects, believes, intends, projects, estimates, or anticipates (and other similar expressions) will, should, or may occur in the future are forward-looking statements. Oblong's actual results may differ materially from its expectations, estimates, and projections, and consequently, you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to the Company's plans to: i) deliver value through strategic treasury management and ii) explore partnerships to develop AI-driven technologies within the Bittensor ecosystem, aligning treasury and operational goals. The forward-looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties, including the volatility of market price for our securities, that may cause actual results in future periods to differ materially from such statements. A list and description of these and other risk factors can be found in the Company's Annual Report on Form 10-K for the year ending December 31, 2024, the Company's Form 10-Q filed on August 14, 2025 and in other filings made by the Company with the SEC from time to time. Any of these factors could cause Oblong's actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company can give no assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update, or revise any information contained herein. December 31, 2024 ASSETS (unaudited) Current assets: Cash and cash equivalents $ 10,795 $ 4,965 Digital assets 1,683 — Accounts receivable, net 15 186 Prepaid expenses and other current assets 566 118 Total current assets 13,059 5,269 Other assets 5 6 Total assets $ 13,064 $ 5,275 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable 122 105 Accrued expenses and other current liabilities 1,659 1,131 Deferred revenue 31 36 Total current liabilities 1,812 1,272 Total liabilities 1,812 1,272 Commitments and contingencies (see Note 9) Stockholders' equity: Preferred stock Series F, convertible; $0.0001 par value; $390,000 stated value; 5,000,000 shares authorized, 355 and 545 shares issued and outstanding as of June 30, 2025, and December 31, 2024, respectively — — Common stock; $0.0001 par value; 150,000,000 shares authorized, 1,594,953 and 1,594,764 shares issued and outstanding as of June 30, 2025, respectively, and 1,144,926 and 1,144,737 shares issued and outstanding as of December 31, 2024, respectively — — Treasury Stock, 189 common shares (181 ) (181 ) Additional paid-in capital 244,984 236,458 Accumulated deficit (233,551 ) (232,274 ) Total stockholders' equity 11,252 4,003 Total liabilities and stockholders' equity $ 13,064 $ 5,275 Expand OBLONG, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in thousands) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Revenue $ 592 $ 611 $ 1,214 $ 1,237 Cost of revenue 364 491 737 1,120 Gross profit 228 120 477 117 Operating expenses: Research and development 3 65 6 115 Sales and marketing 6 57 14 111 General and administrative 902 1,016 1,831 2,093 Total operating expenses 911 1,138 1,851 2,319 Operating loss (683 ) (1,018 ) (1,374 ) (2,202 ) Interest income, net 47 44 73 92 Unrealized gain on digital assets 31 — 31 — Other income, net 78 44 104 92 Loss before income taxes (605 ) (974 ) (1,270 ) (2,110 ) Income tax expense — 9 7 9 Net loss $ (605 ) $ (983 ) $ (1,277 ) $ (2,119 ) Expand GAAP to Non-GAAP Reconciliation: Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net loss $ (605 ) $ (983 ) $ (1,277 ) $ (2,119 ) Other income, net (78 ) (44 ) (104 ) (92 ) Income tax expense — 9 7 9 Stock-based compensation — 31 - 62 Adjusted EBITDA loss $ (683 ) $ (987 ) $ (1,374 ) $ (2,140 ) Expand
Business Wire
07-08-2025
- Business
- Business Wire
Oblong Deploys $8M in Fully Staked $TAO to Capitalize on Decentralized AI Surge
DENVER--(BUSINESS WIRE)--Oblong (Nasdaq: OBLG), leading the charge in innovative treasury strategies, today announces it has now invested $8 million in Bittensor ($TAO), fully staked with a trusted main validator. This bold move underscores Oblong's unwavering belief in decentralized and distributed AI as a game-changer, enabling global innovators to build open-source intelligence without centralized gatekeepers. In Bittensor, staking means putting $TAO to work to support the network's operations and reward top AI innovators, much like how Ethereum investors stake tokens to secure the blockchain and earn profits. Unlike Ethereum, Bittensor's staking directly fuels a global AI marketplace, driving breakthroughs in every AI silo from serverless compute, multi-modal AI to advanced text prompting and reasoning akin to a 'decentralized ChatGPT.' By staking its entire $TAO position, Oblong reinvests in this ecosystem, strengthening innovation and aligning with its vision of a decentralized AI future. 'Our $8 million $TAO investment, fully staked for strong returns, shows our commitment to a decentralized AI revolution,' said Pete Holst, CEO of Oblong. 'Our goal is to build wealth for investors while advancing a global AI community.' Oblong will continue to evaluate additional $TAO purchases on a weekly basis. The Company is also exploring partnerships within the Bittensor ecosystem to potentially develop technology offerings, further aligning its operational and treasury strategies. Transparent updates on treasury performance, including staking yields and token holdings, will be provided in Oblong's Q2 2025 financial results and at upcoming investor conferences. About Oblong, Inc. Oblong (Nasdaq: OBLG) is building a robust cryptocurrency treasury focused on decentralized artificial intelligence (AI) and the acquisition of $TAO, the native cryptocurrency of Bittensor, a decentralized blockchain network for machine learning and AI. By championing open-source intelligence, Oblong offers unmatched opportunities for retail and institutional investors Forward-looking and cautionary statements This press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that Oblong assumes, plans, expects, believes, intends, projects, estimates, or anticipates (and other similar expressions) will, should, or may occur in the future are forward-looking statements and include, but are not limited to, statements regarding market opportunity and the Company's new Bittensor-centric AI and digital asset strategy. Oblong's actual results may differ materially from its expectations, estimates, and projections, and consequently, you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to the Company's plans to: i) deliver returns through staking $TAO, ii) explore partnerships within the Bittensor ecosystem to potentially develop technology offerings, further aligning its operational and treasury strategies, and iii) offer unmatched opportunities for retail and institutional investors. The forward-looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events and involve factors, risks, and uncertainties, including market and other conditions and the volatility of market price for our securities, that may cause actual results in future periods to differ materially from such statements. A list and description of these and other risk factors can be found in the Company's Annual Report on Form 10-K for the year ending December 31, 2024, the Company's Form 8-K filed on June 6, 2025 and in other filings made by the Company with the SEC from time to time. Any of these factors could cause Oblong's actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company cannot give any assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update, or revise any information contained herein.
Business Wire
05-08-2025
- Business
- Business Wire
Oblong Taps $TAO Expert Siam Kidd to Lead Strategic Advisory Committee and Accelerate Decentralized AI Expansion
DENVER--(BUSINESS WIRE)--Oblong (Nasdaq:OBLG), dedicated to advancing decentralized artificial intelligence through strategic treasury investments in Bittensor ($TAO), is thrilled to announce the formation of its Advisory Committee, with Siam Kidd appointed as its inaugural member. This milestone underscores Oblong's commitment to building a robust platform for investors seeking exposure to the rapidly growing decentralized AI ecosystem. Siam is a globally recognized crypto investor, trader, and thought leader with over 21 years of experience in financial markets, including M&A and hedge fund management. As Co-Founder and Chief Investment Officer of DSV Fund, the world's first hedge fund exclusively dedicated to Bittensor ($TAO), Kidd has pioneered institutional-grade strategies for decentralized AI investments. His leadership has positioned DSV to capitalize on $TAO's explosive growth within Bittensor's subnet ecosystem, which now drives over 50 million daily AI inferences and a combined subnet market cap nearing $1 billion. A former RAF pilot, Kidd brings a disciplined, data-driven approach to navigating volatile markets. His deep expertise in $TAO's tokenomics and subnet operations enables him to craft strategies that maximize Bittensor's potential as the 'FTSE100 of decentralized AI,' framing it as a scalable, censorship-resistant alternative to centralized AI giants. 'Decentralized AI is reshaping the future of technology, and Bittensor is at the forefront of this revolution,' said Kidd. 'I'm excited to join Oblong's Advisory Committee to help build a treasury strategy that captures the diverse potential of this ecosystem, delivering value to investors while advancing open-source innovation.' The Advisory Committee will provide strategic guidance on optimizing Oblong's $TAO-focused treasury, identifying high-impact investment opportunities in development teams on the Bittensor platform, known as subnets, and fostering partnerships within the decentralized AI space. Kidd's appointment signals Oblong's dedication to establishing credibility and delivering long-term value for retail and institutional investors. 'Siam's expertise and vision make him the ideal first member of our Advisory Committee,' said Pete Holst, CEO of Oblong. 'His proven track record in leveraging Bittensor's ecosystem will guide our $TAO treasury strategy, positioning Oblong as a premier vehicle for investors in the decentralized AI revolution.' Oblong is actively expanding its Advisory Committee to include additional experts in AI, blockchain, and finance, further strengthening its strategic position. About Oblong, Inc. Oblong (Nasdaq: OBLG) is building a robust cryptocurrency treasury focused on decentralized artificial intelligence (AI) and the acquisition of $TAO, the native cryptocurrency of Bittensor, a decentralized blockchain network for machine learning and AI. By leveraging the power of decentralized AI, Oblong aims to provide investors with unparalleled exposure to the future of open-source intelligence. The Company also provides innovative video collaboration and network solutions, centered around our patented Mezzanine™ product line and managed services. Forward-looking and cautionary statements This press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that Oblong assumes, plans, expects, believes, intends, projects, estimates, or anticipates (and other similar expressions) will, should, or may occur in the future are forward-looking statements and include, but are not limited to, statements regarding market opportunity and the Company's new Bittensor-centric AI and digital asset strategy. Oblong's actual results may differ materially from its expectations, estimates, and projections, and consequently, you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to the Company's plans to i) identify high-impact investment opportunities in development teams on the Bittensor platform, known as subnets, and fostering partnerships within the decentralized AI space and ii) establishing credibility and delivering long-term value for retail and institutional investors. The forward-looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events and involve factors, risks, and uncertainties, including market and other conditions and the volatility of market price for our securities, that may cause actual results in future periods to differ materially from such statements. A list and description of these and other risk factors can be found in the Company's Annual Report on Form 10-K for the year ending December 31, 2024, the Company's Form 8-K filed on June 6, 2025 and in other filings made by the Company with the SEC from time to time. Any of these factors could cause Oblong's actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company cannot give any assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update, or revise any information contained herein.
