NAKANakamoto

Crypto · Financial Services · Nasdaq, OTC

Nakamoto Inc., a Delaware corporation, is a Bitcoin company building a global portfolio of Bitcoin-native companies. 10-K, Item 1

Headquarters: Nashville, TN
CEO: David F. Bailey
Next results: around Nov 18, 2026

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Dilution: new shares, stock pay and buybacks

prospectuses (S-3, 424B) of the last three years and the 10-K cash flow From EDGAR

Shares offered

Since Nov 11, 2023: 1 at-the-market program, 26 sales of new shares, 3 shelf registrations; also 8 resales by holders, 1 update to an earlier prospectus.

Apr 24, 2026 At-the-market program: up to $5.0B of common stock 424B3
Apr 17, 2026 Shelf registration: shares and other securities, amount not fixed S-3/A
Apr 9, 2026 Shelf registration: shares and other securities, amount not fixed S-3
Mar 31, 2026 Sale of 2.1M new shares 424B3
Feb 26, 2026 Sale of 2.1M new shares 424B3
Feb 17, 2026 Sale of 2.1M new shares 424B3

“In accordance with the terms of the Sales Agreement, from time to time we may offer and sell shares of our Common Stock having an aggregate gross sales price of up to $5,000,000,000 to or through the Agents, acting as principal and/or the designated sales agent, pursuant to this prospectus.”
424B3, Apr 24, 2026 ↗

Every offering filing →

Paid in stock

$2.4M

stock-based pay, year to Dec 31, 2025; shares sold for $5.7M in cash

Bought back

$320K

cash paid for its own shares, year to Dec 31, 2025: 0.1× the stock pay

Diluted shares: 200.20M in the year to Dec 31, 2025 2025 +3613.3%2024 +19.8%

Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. Cash & buybacks, year by year → · How

No cash flow chart for banks and insurers: their operating cash flow moves with loans, deposits and trading, so it says little about how cash was spent.

Buybacks, year to Dec 31, 2025

$320K

cash paid for its own shares

Paid in stock to employees

$2.4M

buybacks were 0.1× this

Share count, 1 year

+3613.3%

more shares: owners are diluted

Share count, 3 years

diluted average shares

Fiscal year to	Buybacks	Dividends	Stock pay	Shares issued for cash	Diluted shares
2025-12-31	$320K	-	$2.4M	$5.7M	200.20M
2024-12-31	$22K	-	$241K	-	5.39M
2023-12-31	-	-	$7K	-	4.50M

From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: buybacks = PaymentsForRepurchaseOfCommonStock; sbc = ShareBasedCompensation; issuance = ProceedsFromIssuanceOfCommonStock; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.

Work on NAKA in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/NAKA/export.csv") into a cell.