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• Like Salesforce, but specialized in interactive video for sales, marketing, and training.
• QVC for businesses that want to host their own live sales events.

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Verb Technology Company, Inc. (whose description was provided) primarily sells its Software-as-a-Service applications and non-digital services to other companies and organizations, rather than individuals.

The company serves clients across various sectors. While specific customer company names are not provided in the background information, its major customer categories include:

• Large enterprises in the life sciences sector
• Professional sports franchises
• Educational institutions
• Not-for-profit organizations
• Clients in the entertainment industry
• Clients in the CBD industry

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TON Strategy Company (TONX) underwent a rebranding from Verb Technology Company, Inc. in September 2025, pivoting to a TON treasury strategy. The current management team reflects this new strategic direction.

Manuel Stotz, Executive Chairman

Manuel Stotz serves as the Executive Chairman of TON Strategy Company. He is also the Founder & CEO of Kingsway Capital and the President of the TON Foundation. Kingsway Capital led the private placement transaction that enabled the company's strategic shift and rebranding.

Veronika Kapustina, Chief Executive Officer

Veronika Kapustina was appointed Chief Executive Officer on August 7, 2025. Prior to this role, she founded and advised Houghton Street Ventures LLP, an early-stage investment firm where she spearheaded its creation, team recruitment, and initial fund launch. Ms. Kapustina also served as an Advisor to the TON Foundation from January to July 2025. From 2010 to 2017, she was a Technology Investment Banker at Morgan Stanley in the UK and U.S., executing over 40 transactions valued at $37 billion, including equity and debt raises and M&A transactions for leading technology companies. She has held directorships at private companies such as VK Strategies Ltd. and Reframe Venture Ltd. (VentureESG).

Sarah Olsen, Chief Financial Officer and Chief Operating Officer

Sarah Olsen was appointed Chief Financial Officer and Chief Operating Officer on August 7, 2025. From 2022 to 2025, Ms. Olsen was the Co-founder and Managing Partner of Europa Digital Assets Limited, where she was responsible for alternative investment strategies focused on cryptocurrency markets. Before that, from 2020 to 2022, she was the Global Head of Corporate Development for Onyx by J.P. Morgan, J.P. Morgan's digital asset group, where she oversaw strategic investments, partnerships, and product development in the blockchain and Web3 sectors. Ms. Olsen has also served as a director for Europa Digital Assets Limited, Europa Opportunistic Master Fund, and Europa Opportunistic Offshore Fund.

Peter Smith, Special Advisor

Peter Smith serves as a Special Advisor to TON Strategy Company. He is also the CEO & Co-Founder of Blockchain.com.

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Deep Integration and Feature Expansion by Major Enterprise and Social Platforms: Large, established enterprise software providers (e.g., Salesforce, Microsoft, Google) and major social media/e-commerce platforms (e.g., Shopify, TikTok, Instagram) are continuously expanding their ecosystems. There is a clear emerging threat that these dominant platforms could develop, acquire, or natively integrate advanced interactive video capabilities and comprehensive CRM, LMS, and live commerce functionalities, directly competing with and potentially rendering specialized standalone applications like Verb's less essential. This mirrors historical instances where comprehensive platforms absorbed specialized functionalities, diminishing the market for single-feature providers.

Rapid Advancements in AI-Powered Content Creation and Personalization: The accelerating development and adoption of artificial intelligence, particularly generative AI, in video production, editing, and dynamic personalization poses a significant emerging threat. If AI tools become highly proficient and accessible for automatically generating interactive video elements, personalizing video content, and streamlining live e-commerce experiences (such as those offered by Verb's "clickable in-video technology" and verbLIVE), it could democratize these capabilities. This could erode Verb's competitive differentiation and reduce the need for its specialized SaaS solutions, much like how new technologies or business models have disrupted established players by offering superior or more accessible alternatives.

The addressable markets for TON Strategy's main products and services are outlined below:

• Customer Relationship Management (CRM): The global CRM market size reached approximately $112.91 billion in 2025 and is projected to grow to about $262.74 billion by 2032. This market size is global.
• Learning Management System (LMS): The global learning management system market size was estimated at approximately $28.58 billion in 2025 and is projected to reach around $123.78 billion by 2033. This market size is global.
• Social Commerce (including Live eCommerce): The global social commerce market size was valued at approximately $784 billion in 2022 and is projected to reach about $9,864.6 billion by 2032. This market size is global.
• Crowdfunding: The global crowdfunding market was valued at approximately $117.53 billion in 2023 and is projected to grow to about $2,801.29 billion by 2032. This market size is global.
• Digital Asset Management (DAM) (relevant to TON Treasury Strategy): The global digital asset management market size was valued at approximately $4.85 billion in 2024 and is poised to grow to about $21.51 billion by 2033. This market size is global.
• Telehealth (including Social Telehealth): The global telehealth market size was approximately $126.48 billion in 2024 and is anticipated to be worth about $876.66 billion by 2033. This market size is global.

Here are 3-5 expected drivers of future revenue growth for TON Strategy (symbol: TONX) over the next 2-3 years: * **Growth of Toncoin ($TON) Treasury and Staking Rewards:** A primary driver of future revenue growth is the company's strategic pivot to accumulating Toncoin ($TON), the native cryptocurrency of The Open Network (TON) blockchain. The company aims to build a significant digital asset treasury and generate sustainable staking rewards from its $TON holdings, which is expected to be a cash flow-positive revenue stream. * **Expansion of Social Commerce Platforms (MARKET.live and LyveCom):** The continued growth and expansion of its interactive video-based social commerce platform, MARKET.live, and the recently acquired AI social commerce platform, LyveCom, are expected to drive revenue. These platforms capitalize on the growing livestream shopping market, influencer-led retail, and AI-driven video commerce. * **Performance of "Go Fund Yourself" Business Unit:** The "Go Fund Yourself" initiative, an interactive social crowdfunding platform and TV show, has shown significant revenue contributions and accelerated growth since its launch in July 2024. * **Growth of Telehealth Platforms (Vanity Prescribed and Good Girl Rx):** The company's subscription-based telehealth portals, Vanity Prescribed and Good Girl Rx, are expected to contribute to recurring revenue growth. These platforms offer telehealth services, access to pharmaceuticals, including new weight-loss drugs, and virtual doctor visits.

Share Repurchases

• TON Strategy Company authorized a $250 million stock repurchase program in September 2025.
• The company has repurchased over 1,505,500 shares under this program by September 26, 2025, at an average price of $8.32 per share.
• TON Strategy plans to utilize staking income from its Toncoin ($TON) holdings to fund ongoing share repurchases when its stock trades below net asset value.

Share Issuance

• In August 2025, TON Strategy Company completed a $558 million private placement (PIPE) financing, which included the issuance of common stock and pre-funded warrants.
• The company has also launched a $1 billion at-the-market (ATM) program.
• Management has stated that the company may consider issuing stock to acquire additional Toncoin ($TON) if its stock trades at a premium to its net asset value per share.

Inbound Investments

• TON Strategy Company secured a $558 million private investment in public equity (PIPE) financing in August 2025, marking a significant step in its pivot to a TON treasury strategy.

Outbound Investments

• TON Strategy Company used the proceeds from its $558 million private placement to acquire 217.5 million Toncoin ($TON) by Q3 2025, establishing itself as a long-term holder of the cryptocurrency.
• The company commenced staking 82% of its $TON reserves, with plans to stake substantially all reserves by October 10, 2025, projecting approximately $24 million in annualized staking revenues once fully staked.
• The company aims to expand its Toncoin holdings to exceed 5% of the total TON supply.

Capital Expenditures

• In a recent period, TON Strategy's capital expenditures amounted to $342K, which consumed the majority of its -$8.8M in operating cash flow.
• The company's trailing twelve months (TTM) Capital Expenditure % Compound Annual Growth Rate (CAGR) over five years is 6.76%.
• Over the past five years, TON Strategy Co.'s average Capital Expenditure % CAGR was 55.8%.