GRNQ

New in FY2025

• Risks Related to Natural Disasters and Public Health Crises We may be adversely affected by natural disasters, pandemics, and other catastrophic events, and by human-caused problems such as terrorism, which could disrupt our business operations, and our business continuity and disaster recovery plans may not adequately protect us from a serious disaster.
• As of and for the year ended December 31, 2025, we recorded a net loss of $2,982,333, an accumulated deficit of $40,246,712 and a negative cash flow of $1,790,250 in operating activities.
• Our failure to achieve or maintain profitability could negatively impact on the value of our business.
• For the year ended December 31, 2025, the Company recorded a net loss of $2,982,333 and used cash in operating activities of $1,790,250, and as of December 31, 2025, we incurred an accumulated deficit of $40,246,712.
• In addition, the Company’s independent registered public accounting firm, in their report on the Company’s December 31, 2025 audited financial statements, raised substantial doubt about the Company’s ability to continue as a going concern.
• No assurance that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory for the Company.
• Our operating results will continue to fluctuate significantly because of a variety of factors, many of which are unpredictable and in certain instances are outside of our control, including: ● crypto trading activity, including trading volume and the prevailing trading prices for crypto assets, which can be highly volatile; ● our ability to attract, maintain, grow, and engage our customer and developer base; ● changes in the legislative or regulatory environment, or actions by U.S. or foreign governments or regulators, including fines, orders, or consent decrees; ● regulatory changes or scrutiny that impact on our ability to offer certain products or services; ● our ability to continue to diversify and grow our subscription and platform service revenue; ● our mix of revenue between transactions and subscriptions and services; ● pricing for the temporary suspensions of our products and services; ● adding crypto assets to or removing them from our platform; ● our ability to establish and maintain partnerships, collaborations, joint ventures, or strategic alliances with third parties; ● market conditions of, and overall sentiment towards, the crypto economy; ● macroeconomic conditions, including interest rates, inflation, and instability in the global banking system; ● adverse legal proceedings or regulatory enforcement actions, judgments, settlements, or other legal proceedings, and enforcement-related costs; ● the development and introduction of existing new products and services by us or our competitors; ● the amount and timing of our operating expenses related to the maintenance and expansion of our business and operations, including investments we make in the development of products and services, as well as technology offered to our developers, international expansion, and sales and marketing; ● system failures, outages or interruptions, including with respect to our platform and third-party crypto networks; ● our lack of control over decentralized or third-party blockchains and networks that may experience downtime, cyberattacks, critical failures, errors, bugs, corrupted files, data losses, or other similar software failures, outages, breaches and losses; ● breaches of security or privacy; ● inaccessibility of our platform due to our third-party actions; ● our ability to attract and retain talent; and ● our ability to compete with our competitors.
• We intend to incorporate open-source software onto our platform.
• If we decide in the future to incorporate into our products any other software program licensed from a third party, and the use of such software program is necessary for the proper operation of our appliances, then our loss of any such license would adversely affect our ability to release our products in a timely fashion.
• A huge portion of our business operations is conducted using our computer network.
• Any of the foregoing factors could result in damage to our reputation and customer confidence in the security of our products and services and could require us to incur significant costs to eliminate or alleviate the problem.
• Additionally, our ability to transact business may be adversely affected.
• Such damages, expenditures and business interruption could seriously impact on our business, financial condition, and results of operations.
• Risks Relating to Green-X and Its Business of Digital Asset Exchange The slowing or stopping of the development or acceptance of blockchain networks and blockchain-based assets could have a material adverse effect on the successful development and adoption of our business.
• Our business depends on the continued growth, development, and acceptance of blockchain networks, digital assets, and related technologies, which are subject to a high degree of uncertainty.
• Key factors influencing the further development of blockchain networks and digital assets include the global adoption of digital assets and blockchain technology; regulatory and quasi-government restrictions on access to and operation of blockchain networks; and the maintenance of open-source protocols that support blockchain networks.
• Additional factors, such as shifts in consumer demographics and public preferences, the availability of alternative transaction methods, the potentially speculative nature of digital assets, and economic conditions domestically and globally, also contribute to this uncertainty.
• If blockchain adoption, acceptance, or functionality slows, halts, or changes in a way that diminishes our ability to grow our exchange and custody businesses, our financial condition and growth prospects could be materially and adversely affected.
• The future development and growth of the digital asset industry is subject to a variety of factors that are difficult to predict and evaluate.
• If the market for digital assets declines or does not grow as we expect in terms of value, volume, or demand, our business, operating results, and financial condition could be materially adversely affected.
• Further, the future growth and development of the digital asset ecosystem is uncertain.
• Blockchain technology, digital assets, smart contracts, dApps, and DeFi are components of a new and evolving paradigm that is subject to a variety of factors that are difficult to evaluate, including: ● extreme price volatility or “black swan” events (i.e., highly improbable, unexpected occurrences with significant consequences that are extremely difficult to predict beforehand) with respect to different digital assets; ● many blockchain networks have limited operating histories and are still in the process of development, which will affect the design, supply, issuance, functionality, and governance of their respective digital assets and underlying blockchain networks.
• Any of these factors could adversely affect their respective digital assets; ● many blockchain networks are in the process of implementing software upgrades and other changes to their protocols, which could introduce bugs, security risks, and adversely affect the associated digital assets; ● technical issues, such as bugs or vulnerabilities in protocols, have led to disabled functionalities, exposure of personal information, and theft of users’ assets.
• These issues often require resolution by global miners, users, and developer communities, and their recurrence could undermine trust in digital assets; ● with respect to hardware used in connection with wallets and blockchain networks, there are risks related to technological obsolescence, the vulnerability of the global supply chain and difficulty in obtaining new hardware; ● several large networks, including Bitcoin, Ethereum, and Solana, are developing new features to address fundamental speed, scalability, and energy usage issues.
• If these issues are not successfully addressed or are unable to achieve widespread adoption, they could adversely affect the underlying digital assets; ● many digital assets and their underlying blockchain networks have identified security issues, bugs, and software errors, some of which have been exploited by malicious actors.
• There are also inherent security weaknesses in some digital assets, e.g., when creators of certain blockchain networks use procedures which could allow hackers to counterfeit tokens.
• Any weaknesses identified with a digital asset could adversely affect its price, security, liquidity, and adoption.
• If a malicious actor or botnet (a volunteer or hacked collection of computers controlled by networked software coordinating the actions of these computers) obtains a majority of the compute or staking power on a blockchain network, the actor or botnet might be able to manipulate transactions, which could cause significant financial losses to holders, damage the network’s reputation and security, and adversely affect its value; ● the development of new technologies for mining, such as improved application-specific integrated circuits, and changes in industry patterns, such as the consolidation of mining power in a small number of large mining farms, could reduce the security of blockchain networks, lead to increased liquid supply of digital assets, and reduce a digital asset’s price and attractiveness; ● if rewards and transaction fees for miners or validators on any blockchain network are not sufficiently high to attract and retain miners or validators, a digital asset’s network security and speed may be adversely affected, increasing the likelihood of a malicious attack; ● many digital assets have concentrated ownership or an admin key, allowing a small group of holders to have significant unilateral control and influence over key decisions related to their blockchain networks or protocols, such as governance decisions and protocol changes, as well as the market price of such digital assets; ● the governance of many decentralized blockchain networks and protocols is by voluntary consensus and open competition, and many developers are not directly compensated for their contributions.
• As a result, there may be a lack of consensus or clarity on the governance of any particular blockchain network or protocol, a lack of incentives for developers to maintain or develop the network or protocol, and other unforeseen issues, any of which could result in unexpected or undesirable errors, bugs, or changes, or stymie such network or protocol’s utility and ability to respond to challenges and grow; ● many blockchain networks and protocols are in the initial stages of developing partnerships and collaborations, any one or more of which may not succeed and adversely affect the usability and adoption of their respective digital assets; ● digital assets have only recently become selectively accepted as a means of payment by retail and commercial outlets, and the use of digital assets by consumers to pay such retail and commercial outlets remains limited.
• Banks and other established financial institutions may refuse to (i) process funds for digital asset transactions; (ii) process wire transfers to or from digital asset exchanges, digital asset-related companies, and service providers; or (iii) maintain accounts for persons or entities transacting in crypto assets.
• As a result, the prices of various digital assets are determined by speculators, miners, and validators, thus contributing to price volatility, which makes retailers less likely to accept digital assets as a form of payment in the future; ● banks may not provide or may cut off banking services to businesses that provide digital asset-related services or that accept digital assets as payment, which could harm our banking infrastructure, limit us from operating in certain jurisdictions or limit product or service offerings, dampen liquidity in the market, and damage public perception of digital assets generally or any one digital asset in particular (such as bitcoin) and their or our utility as a payment system.
• These actions could decrease the price of crypto assets generally or individually; ● there is a lack of liquid markets in certain digital assets, and these markets are subject to risk of manipulation; ● certain digital assets have concentrated ownerships, and large sales or distributions by holders of such digital assets, or “whales,” could have an adverse effect on the market price of such digital assets; and ● the characteristics of digital assets have been, and may in the future continue to be, exploited to facilitate illegal activity such as fraud, money laundering, tax evasion, and ransomware scams.
• Acceptance and/or widespread use of digital assets are uncertain, and the prices of digital assets can be extremely volatile.
• For example, since 2023, the trading price of bitcoin has fluctuated from a low of approximately $16,000 to highs above $100,000.
• Our revenue is dependent on the prices of digital assets and the volume of digital asset transactions conducted on our platform.
• If such price or volume declines, this will materially adversely affect our business, operating results, and financial condition.
• Our operating results have and will significantly fluctuate, due to inherent volatility associated with the digital asset industry, including, but not limited to, the price of digital assets, regulatory scrutiny of certain digital assets or related products and services, or changes in applicable laws.
• Our operating results are dependent on digital assets and the broader digital asset industry.
• Due to the highly volatile nature of the digital asset industry and the prices of digital assets, which have experienced and continue to experience significant volatility, our operating results have, and will continue to, fluctuate significantly from quarter to quarter in accordance with market sentiments and movements in the broader digital asset industry.
• Our operating results will continue to fluctuate significantly because of a variety of factors, many of which are unpredictable and in certain instances are outside of our control, including: ● our dependence on offerings that are, in turn, dependent on digital asset trading activity, including trading volume and the prevailing trading prices for digital assets, whose trading prices and volume can be highly volatile; ● our ability to attract, maintain, and grow our user base and engage our users; ● changes in the legislative or regulatory environment, or actions by U.S. or foreign governments or regulators, including fines, orders, or consent decrees; ● regulatory changes or scrutiny that impact on our ability to offer certain products or services; ● increased regulatory certainty, which could lead to greater competition from traditional financial services firms and other competitors with broader access to financial resources; ● our ability to continue to diversify and grow our revenue; ● pricing for or temporary suspensions of our products and services; ● investments we make in the development of products and services, as well as international expansion and sales and marketing; ● adding digital assets to, or removing them from, our platform; ● our ability to establish and maintain partnerships, collaborations, joint ventures, or strategic alliances with third parties; ● market conditions of, and overall sentiment towards, the digital asset industry; ● macroeconomic conditions, including interest rates, inflation, and instability in the global banking system; ● adverse legal proceedings or regulatory enforcement actions, judgments, settlements, or other legal proceedings and enforcement-related costs; ● the development and introduction of existing and new products and services by us or our competitors or the emergence of new competitors; ● our ability to control costs, including operating expenses incurred to grow and expand our operations and remain competitive; ● system failure, outages, or interruptions, including with respect to our digital asset platform and third-party digital asset networks, which have occurred in the past and will likely occur in the future; ● our lack of control over decentralized or third-party blockchains and networks that may experience downtime, cyberattacks, critical failures, errors, bugs, corrupted files, data losses, or other similar software failures, outages, breaches, and losses; ● breaches of security or privacy; ● real or perceived improper or unauthorized use of, disclosure of, or access to confidential, proprietary, personal, or sensitive data; and ● our ability to attract and retain talent.

and 61 more.

Gone since FY2024

• Risks Related to the COVID-19 Pandemic and Other Natural Disasters We may be adversely affected by natural disasters, pandemics, and other catastrophic events, and by human-caused problems such as terrorism, which could disrupt our business operations, and our business continuity and disaster recovery plans may not adequately protect us from a serious disaster.
• As of and for the year ended December 31, 2024, we recorded a net loss of $725,827, an accumulated deficit of $37,264,379 and a negative cash flow of $1,360,454 in operating activities.
• Our failure to achieve or maintain profitability could negatively impact the value of our business.
• For the year ended December 31, 2024, the Company recorded a net loss of $725,827 and used cash in operating activities of $1,360,454, and as of December 31, 2024, we incurred an accumulated deficit of $37,264,379.
• In addition, the Company’s independent registered public accounting firm, in their report on the Company’s December 31, 2024 audited financial statements, raised substantial doubt about the Company’s ability to continue as a going concern.
• No assurance that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company.
• Our operating results will continue to fluctuate significantly because of a variety of factors, many of which are unpredictable and in certain instances are outside of our control, including: ● crypto asset trading activity, including trading volume and the prevailing trading prices for crypto assets, which can be highly volatile; ● our ability to attract, maintain, grow, and engage our customer and developer base; ● changes in the legislative or regulatory environment, or actions by U.S. or foreign governments or regulators, including fines, orders, or consent decrees; ● regulatory changes or scrutiny that impact our ability to offer certain products or services; ● our ability to continue to diversify and grow our subscription and platform service revenue; ● our mix of revenue between transactions and subscriptions and services; ● pricing for the temporary suspensions of our products and services; ● adding crypto assets to or removing them from our platform; ● our ability to establish and maintain partnerships, collaborations, joint ventures, or strategic alliances with third parties; ● market conditions of, and overall sentiment towards, the crypto economy; ● macroeconomic conditions, including interest rates, inflation, and instability in the global banking system; ● adverse legal proceedings or regulatory enforcement actions, judgments, settlements, or other legal proceedings, and enforcement-related costs; ● the development and introduction of existing new products and services by us or our competitors; ● the amount and timing of our operating expenses related to the maintenance and expansion of our business and operations, including investments we make in the development of products and services, as well as technology offered to our developers, international expansion, and sales and marketing; ● system failures, outages or interruptions, including with respect to our platform and third-party crypto networks; ● our lack of control over decentralized or third-party blockchains and networks that may experience downtime, cyberattacks, critical failures, errors, bugs, corrupted files, data losses, or other similar software failures, outages, breaches and losses; ● breaches of security or privacy; ● inaccessibility of our platform due to our third-party actions; ● our ability to attract and retain talent; and ● our ability to compete with our competitors.
• We intend to incorporate open-source software into our platform.
• If we decide in the future to incorporate into our products any other software program licensed from a third party, and the use of such software program is necessary for the proper operation of our appliances, then our loss of any such license would similarly adversely affect our ability to release our products in a timely fashion.
• A huge portion of our business operations is conducted through the use of our computer network.
• Any of the foregoing things could result in damage to our reputation and customer confidence in the security of our products and services and could require us to incur significant costs to eliminate or alleviate the problem.
• Additionally, our ability to transact businesses may be adversely affected.
• Such damage, expenditures and business interruption could seriously impact our business, financial condition, and results of operations.
• Our auditor, JP Centurion & Partners PLT (“Centurion”), is headquartered in Kuala Lumpur, Malaysia. and is the independent registered public accounting firm that issued the audit reports included in this annual report, and as auditors of companies that are traded publicly in the United States and firms registered with the PCAOB, are subject to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess their compliance with the applicable professional standards.
• We are not aware of any reasons to believe or conclude that Centurion would not permit an inspection by PCAOB or may not be subject to such an inspection.
• Centurion is outside the jurisdiction of Hong Kong and China and has assured us that if requested, they shall cooperate and deliver the work papers of our Chinese subsidiaries to the PCAOB for inspection.
• Violations of the FCPA or Chinese anti-corruption rel evant laws may result in severe criminal or civil sanctions, and we may be subject to other liabilities, which could negatively affect their business, operating results, and financial condition.
• The PRC Cyber Security Law, which was promulgated on November 7, 2016 and became effective on June 1, 2017, provides that personal information and important data collected and generated by operators of critical information infrastructure in the course of their operations within the territory of the PRC should be stored within the territory of the PRC, and the law imposes heightened regulation and additional security obligations on operators of critical information infrastructure.
• On August 20, 2021, the Standing Committee of the National People’s Congress adopted the Personal Information Security Law, which came into force on of November 1, 2021.
• Although the direct impact of the current international trade tension and any escalation of such tension on the industries in which we operate is uncertain, the negative impact on general, economic, political and social conditions may adversely impact our business, financial condition and results of operations.
• As to the date of this report, we and our subsidiaries have not been involved in any investigations into cybersecurity review initiated by any PRC regulatory authority, nor has any of them received any inquiry, notice or sanction.
• The Regulations on the Administration of Network Data Security issued on September 24, 2024 and took effect on January 1, 2025, which does not involve that data handlers that process the personal information of more than one million users listed in a foreign country should apply for a cybersecurity review, and w e do not believe we are among the “operator of critical information infrastructure”, “data processor”, “online platform operators” or “data handlers” as mentioned above; however, considering our Chinese subsidiary’s business may involve important data such as personal information, the relevant activities of our Chinese subsidiary will be regulated by Measures for Cyber Security Review and other relevant data regulations.
• Any failure by us to comply with such filing procedures could impact our operations materially and adversely and significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value of our securities to significantly decline or be worthless.
• The Trial Measures and Regulations on Overseas Listing Archives subject us to additional compliance requirements in the future, and we cannot assure you that we will be able to get the clearance of filing procedures under the Trial Measures on a timely basis, or at all.
• In the event that our shares trade under $5.00 per share, they will be considered penny stock.
• Lee, Chong Kuang, our CEO. and his spouse own approximately 25% of our outstanding shares of Common Stock, and Mr.
• Loke, Che Chan Gilbert, our CFO, and his sons in aggregate own approximately 19% of our outstanding shares of Common Stock, collectively 44%.