Hong Kong, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Abits Group Inc (NASDAQ: ABTS) today announced it has recently made certain corrections to its unaudited financial statements for the six months ended June 30, 2025 that were announced on August 13, 2025.

The items that were corrected were the number of the Company’s authorized shares and the number of issued and outstanding shares as of June 30, 2025. A note describing these changes as a result of the reverse split that was effected on March 10, 2025 is included as Note 5 to the amended financial statements. All other financial figures, including the loss for the period of six months to June 30, 2025 and the loss per share remain unchanged.

The amended unaudited financial statements for the six months ended June 30, 2025 are attached to this press release.

ABITS GROUP INC
CONSOLIDATED BALANCE SHEETS

ABITS GROUP INC
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

ABITS GROUP INC.
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES TO STOCKHOLDERS’ EQUITY

ABITS GROUP INC.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

See accompanying notes to consolidated financial statements

ABITS GROUP INC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1. Digital assets

2. Property, equipment and vehicles

3. Loan and interest expense

In March 2025, the Company took a loan of $ 3.0 million, with interest at a simple rate of 12% per annum. The loan is repayable in 24 equal instalments and is secured on all the assets of the Company’s mining site at Duff, Tennessee. The interest expense for the period to June 30, 2025 is $90,000 (2024: Nil.

4. Revenue

⁽¹⁾ The output of bitcoins during the first half year of 2025 is 40.27 coins (2024-1H:61.53 coins).
⁽²⁾ The Company began providing hosting services to third parties and charging a service fee from July 1, 2024.

5. Shareholders’ Equity

Preferred Shares

On February 13, 2025, the board of directors (the “Board of Directors”) of the Company approved to change the maximum number of preferred shares the Company was authorized to issue from 50,000,000 preferred shares, par value $0.00101 each, to an unlimited number of preferred shares, no par value each, and to amend and restate the Company’s Memorandum and Articles of Association, as amended, to reflect the changes.

On February 13, 2025, the Board of Directors approved a share consolidation of the Company’s preferred shares at the ratio of one-for-fifteen with an effective date of February 17, 2025.

Ordinary Shares

On February 13, 2025, the Board of Directors approved to change the maximum number of ordinary shares the Company was authorized to issue from 150,000,000 ordinary shares, par value US$0.001 each, to an unlimited number of ordinary shares of no par value each, and to amend and restate the Company’s Memorandum and Articles of Association, as amended, to reflect the changes.

On February 13, 2025, the Board of Directors approved a share consolidation of the Company’s ordinary shares at the ratio of one-for-fifteen with an effective date of February 17, 2025. On March 18, 2025, the Company paid cash to certain minor shareholders and cancelled 144 ordinary shares due to share consolidation reconciliation.

All historical share and per share amounts in these financial statements have been retroactively adjusted to reflect the share consolidations.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

For further information, please contact
ir@abitsgroup.com