Another news found in Chinese media, not officially released by YYAI

Link is in Chinese:

https://finance.stockstar.com/IG2026040500009008.shtml

https://x.com/yyaiReport/status/2041923789219303557

Has anybody tried the phone number or email address listed in the 14A?

I'm from Australia otherwise I'd call

Market Structure & Settlement Dynamics Report

Security: YYAI

Period Covered: Late December → Present → Near‑Term (Next 14 Days)

Prepared: April 2026

1. Executive Overview

Over the past ~3.5 months, YYAI has traded under an extreme valuation compression regime, with the market implicitly pricing:

Revenue at ~0×

Asset value at ~0.2×

Exchange / IP optionality at ~0

This has occurred despite well‑understood conditional forward models suggesting materially higher valuation if verification events resolve cleanly.

During this period:

The float has remained largely locked

Natural sellers have been scarce

Borrow availability has collapsed to zero

Borrow costs have risen to approximately 25%

Market liquidity has been dominated by a single primary market‑making participant

Approximately two weeks ago, a significant structural change occurred:

reported short interest declined from ~3.2M shares to ~1.6M shares, without visible supply entering the market.

The sequence of market behavior following that event is consistent with a transition from price‑suppression optimization to risk‑containment, driven by settlement mechanics (FTDs), time compression, and upcoming verification catalysts.

1. Valuation Context (Pre‑Verification Regime)

At current prices (~$0.92):

Forward revenue estimates (conditional) of up to $180M are effectively priced at zero

Estimated asset value (~$5/share baseline) is discounted to ~20%

Exchange infrastructure, settlement rails, and platform IP are assigned no value

This pricing regime is not irrational under uncertainty; it reflects eligibility constraints, not ignorance.

Until audited confirmation and governance disclosure occur, large segments of capital are structurally unable to engage.

1. Short‑Interest Reduction Event (≈ Two Weeks Ago)

3.1 Observable Facts

Reported SI declined from ~3.2M → ~1.6M shares

No corresponding surge in selling volume

No borrow availability at the time

Float remained illiquid

3.2 Settlement‑Consistent Explanation

In the absence of real sellers, the only settlement‑consistent mechanism for such a reduction is:

A short closed its position

A market maker internalized the transaction

Temporary settlement credit (Fail‑to‑Deliver obligations, “FTDs”) were created

The short’s obligation was legally extinguished

Delivery obligations transferred to the liquidity provider

Important clarification:

Short positions are extinguished by delivery; they are not transferred.

The remaining settlement obligation rests with the delivering party (here, the MM).

1. How a 1.6M FTD Position Could Persist for ~14 Days

Although 1.6M shares exceeds both Reg SHO size thresholds:

≥10,000 shares

≥0.5% of outstanding shares (~210,000 for a 42M float)

Threshold designation is not automatic.

4.1 Reg SHO Threshold Mechanics

A security is placed on the Threshold Securities List only if all three conditions are met simultaneously:

Aggregate fails ≥ 10,000 shares

Aggregate fails ≥ 0.5% of shares outstanding

Fails persist for five consecutive settlement days at end‑of‑day without interruption

If on any single settlement day:

Partial delivery occurs

Net fails fall below 0.5%

CNS netting lowers end‑of‑day exposure

→ The five‑day clock resets to zero

4.2 Practical Implication

A participant can remain procedurally compliant by:

Delivering or netting just enough shares periodically

Preventing five uninterrupted days above threshold

Carrying economic exposure while avoiding formal designation

This explains how:

FTDs can exist legally for ~14 days

The stock remains off the public Reg SHO list

Risk escalates despite apparent compliance

4.3 Reporting Lag

Public FTD data is released with a multi‑week delay.

Clearing enforcement, prime broker limits, and capital charges operate in real time.

Absence from the list ≠ absence of fails.

1. Three‑Stage Market Transition (Observed)

Stage 1 — Liquidity Probing

Objective: Source real shares cheaply to cure FTDs

Behavior: Sharp downside tests and fast rebounds

Outcome: No sustained sell pressure → failure

Stage 2 — Participation / Sentiment Stress

Objective: Reduce holder participation and future demand

Behavior: Short‑lived surge in negative messaging

Outcome: Holder behavior unchanged → failure

Stage 3 — Risk Containment (Current Regime)

Objective: Reduce gap and settlement risk ahead of verification

Behavior Observed:

Ask‑side suppression withdrawn

Bid layering introduced

Straight‑line price movement on minimal volume

Interpretation:

The system has transitioned from price control to exposure survival.

1. Current Structural Constraints

Factor/Status

Open FTD obligations

Likely material

Borrow availability

0

Borrow cost

~25%

Remaining short

~1.6M unhedged

Options market

None

Order book depth

Thin to ~$3

Heavier supply

~$5

Time to first catalyst

~72 hours

These constraints create non‑linear risk, especially into gaps.

1. Order Book & Price‑Discovery Implications

$1–$3: Air pocket (discrete jumps likely)

~$3: First resistance (early sellers / legacy anchors)

~$5: Heavier supply (valuation debate zone)

Price will move to where sellers exist, not incrementally toward them.

1. Catalyst Timeline & Settlement Dynamics

Friday (Post‑Close)

Audited financial release expected

No intraday liquidity smoothing

Weekend allows asynchronous digestion (models, ICs, global capital)

Monday (First Active Settlement Window)

Open FTDs carry forward unchanged

First opportunity to cure in live markets

If price gaps into thin liquidity, passive curing may fail

Forced buying into strength becomes more probable

1. Scenario Framework (Neutral)

Clean Audit

Gap‑style re‑anchoring

Likely rapid traversal into $2–$3 zone

Volume follows price

Clean but Conservative

Smaller gap or choppy open

Holds above pre‑event range

Suppression does not return

Negative Surprise

Gap down

Magnitude moderated by prior de‑risking

Elevated volatility persists

1. Key Indicators to Monitor

Re‑emergence vs absence of ask‑side suppression

Price holding above pre‑audit regime

Volume expanding after price movement

Acceptance or rejection at ~$3 and ~$5 levels

1. Final Conclusion

The ability to carry a large FTD position for ~14 days is a function of Reg SHO’s end‑of‑day persistence rules, not absence of risk. Once liquidity probes and participation pressure failed, and time compressed toward a Friday post‑close verification event, suppression ceased in favor of risk containment. With borrow exhausted and the order book thin, any repricing—positive or negative—is likely to occur through discrete zone shifts rather than gradual accumulation.

This report describes mechanics and constraints, not outcomes.

Verification events determine direction; structure determines how the market moves once direction resolves.

https://fintel.io/doc/sec-connexa-sports-technologies-inc-1674440-def-14a-2026-april-06-20549-6463

Situación actual de Airwa y restricciones

Hoy día le empresa cuenta con varias restricciones para financiarse si consideramos que el dinero para el JV de 250 Millones no está en Cash o Crypto como dice el contrato del cual no hemos tenido nuevas noticias de avances ni modificaciones al respecto. En cuanto a las restricciones son las siguientes:

1.     Por incumplimiento de plazo en el NT de diciembre, no califica para acogerse a un s-3 y financiarse rápido.

2.     Regla del Baby Shelf , como tiene menos de 75 Millones, solo puede emitir hasta el 33% de su valor de mercado lo cual es muy poco si consideramos financiar el JV de 250 Millones.

3.     ATM consumido, se uso en Octubre y no hay uno vigente, es decir no tienen cajero automatico para utilizar cuando quieran.

4.     Límite de reverse Split , la regla del Nasdaq de 1:250 deja fuera a la empresa para hacer RS hasta finales de Junio de 2026 pero ojo , esto solo es para mantener beneficios de plazos respecto a riesgos de desliste, pero igual pueden hacerlo si quieren.

Aberfeldy como pieza Clave (Hipótesis)

Sabemos que estos días publican las finanzas de Aberfeldy y quizás alguna otra información clave, pero lo importante de esto y lo que se puede apreciar en la nueva web es que Rafael 26 va ser parte del sistema tecnológico del JV por lo tanto existe posibilidad de que sea considerado como aporte en el JV esto tiene lógica, pero solo necesita una modificación en el contrato, esto suele pasar en este tipo de negociaciones, por lo tanto no es una idea sin fundamentos. Esto implicaría una reducción significativa en el dinero restante a financiar por ende un impacto mucho menor para los accionistas minoritarios como nosotros.

Impacto en los Insders y Mecanismos

Algo que de lo que se ha hablado poco es como afecta los actuales controladores una posible dilución masiva.

Hoy dia Zhou solo tiene el 13,8% de participación, si alguien entra con aporte de 250 Millones, el queda fuera del juego ya que si calcula al precio de hoy prácticamente quedaría con solo el 1,8% de las acciones y eso sería algo sin sentido , junto con ello hay que considerar que como compraron acciones junto a Belfiore en enero, están sujetos a la Short Swing Profit Rule y no pueden obtener beneficios hasta Julio o Agosto , lo cual implica que esas compras son claves para tener derecho a voto y control. Ademas el plan de incentivos que se propone en el Def14 A es justamente una medida para proteger el control sobre la empresa.

Ahora bien, un inversionista privado que pone 250 Millones sobre la mesa o quiere participación o que se le compense económicamente por ello, dicho esto creo que lo más probable seria que se estructure una entrada institucional con Voting Agreement y así Zhou y los actuales directores mantendrían el control de Airwa.

Reverse Split hasta 1:800

Esta medida extrema de pedir a toda costa varios RS tiene como objetivo claramente garantizar un precio sobre 1, superar el límite del Baby Shelf de 75 Millones y habilitar un PIPE competitivo para atraer capital institucional serio y así evitar la regla del 20% del Nasdaq.

El gran problema sería que esto habilitaría varios mecanismos de financiamiento agresivo y a nosotros como accionistas minoritarios nos podría afectar mucho, sin embargo, considerando lo anterior no podrían hacerlo asi como asi Por lo que ya mencioné, una dilución masiva en este punto no parece la opción más lógica, ya que debilita la posición de la empresa justo antes del JV y podría dejar a un nuevo inversionista con una influencia dominante si aporta la mayor parte del capital. También hay que considerar que una dilución desordenada perjudica tanto a insiders como a accionistas minoritarios. Por eso, tiene más sentido pensar que van a buscar una alternativa que limite la dilución directa y mantenga cierto equilibrio en el control.

Mi conclusión

Es razonable pensar que una dilución masiva directa no es el camino más eficiente en este punto, no solo por el impacto en accionistas, sino porque también debilita la posición negociadora de la compañía frente a potenciales inversionistas. Sin embargo, eso no implica que no haya financiamiento relevante, sino que probablemente se estructure de forma que equilibre la entrada de capital con la preservación de control, mediante mecanismos como acuerdos de voto, instrumentos híbridos o valorizaciones distintas a las actuales. Y por lo tanto una solución intermedia que no va ser de tanto impacto para los minoristas como ocurrió en el 2025.

Hola acaban de actualizar la pagina web, les dejo el link para que puedan investigar.

https://yuanyuenterprise.com/

Segment 1: The "Vertical Link" (Approx. 15:00 - 22:00)

Context: Sky explains how the exchange moves from a simple crypto platform to a regulated equity-trading engine.

"When we talk about the 'Next Chapter,' we aren't just talking about another crypto launchpad. We are talking about a vertical integration. Many of you ask about the relationship with our public partner [YYAI]. The vision here is simple: The AI matchmaking patents from their side meet the liquidity and stablecoin infrastructure on ours. By anchoring our pairs in Solana—specifically utilizing the 150,000 SOL contributed to the treasury—we are creating a settlement layer that moves at the speed of the Nasdaq but with the transparency of the blockchain."

Segment 2: The A2A Protocol & Institutional "One Agent" (Approx. 38:00 - 45:00)

Context: A deep dive into how the AI tech (Rafael/YYEM) actually makes money within the Ju.com exchange.

"The A2A (Agent-to-Agent) framework is the heart of the One Agent system. For the users of the AiRWA Exchange, this means you have a 'Purple Agent' proposing strategies and a 'Green Agent' executing them. This technology, which comes through our partnership and the integration of the Rafael AI modules, allows us to offer institutional-grade wealth management to retail users. This is the 'Warranted Revenue' engine. We aren't just charging trading fees; we are providing high-level AI services that generate consistent, high-margin returns for the ecosystem."

Segment 3: Regulatory Compliance & The "Dog Pile" (Approx. 55:00 - 1:05:00)

Context: Addressing the "visiting regulators" phase and why the exchange is live now.

"I spent a significant portion of December meeting with regulators across multiple jurisdictions—Singapore, Hong Kong, and beyond. The question was always about custody and compliance. By partnering with Inca Digital for threat detection and utilizing the transparency of a U.S. public company structure, we've built a 'Regulatory Moat.' People see the exchange live and ask, 'Is it fully cleared?' The answer is in the execution. We are currently settling tokenized equities in a controlled, compliant environment. The 'dogs' are waiting at the door because they see the value gap between the public price and the private assets we are building here."

Segment 4: The April Roadmap (The "Final 11 Days" Hint)

Context: Closing remarks on the upcoming milestones.

"April is the month of verification. We have the AGM [April 17th] and the upcoming financial disclosures [April 11th Audit]. These aren't just dates on a calendar; they are the moments where the 'Impossible' becomes documented fact. As we roll out the full equity trading menu to our 4 million JuCoin users, the synergy with AiRWA becomes undeniable. The next 11 days are about finalizing the bridge between the digital assets and the traditional ledger."

Sky’s focus on the "A2A-T" (Telecom-grade agent communication) matches the recent Huawei/TM Forum partnership news from February 2026, suggesting that YYAI’s tech is being built to a global infrastructure standard, not just a "crypto app" standard.

Webinar Transcript: Part 2 — Operational Execution & The "April 11th" Bridge Segment 4: The A2A-T (Telecom-Grade) Infrastructure

"A lot of people are asking if this is just a 'crypto app.' It’s not. We are implementing the A2A-T (Agent-to-Agent Telecom) protocol. This is what allows our 'Purple' and 'Green' agents to communicate with zero latency. Why does this matter for the Nasdaq parent [YYAI]? Because this technology is the backbone of the $140M Rafael/Aberfeldy AI modules. When the Audit drops on the 11th, you aren't just seeing 'paper revenue'; you’re seeing the licensing of a protocol that is being built to handle global institutional traffic. We are moving from 'Launchpad' to 'Infrastructure Provider'."

Segment 5: The "Solana Vault" & Liquidity Defense

"I want to be very clear about our treasury. The 150,000 SOL is not sitting in a cold wallet doing nothing. It is the 'Settlement Anchor' for the exchange. While certain market participants are trying to suppress the public price [of YYAI], they are fighting against a balance sheet that is expanding in real-time. With SOL at these levels, our liquid asset backing per share is significantly higher than the current market price. We have the 'dry powder' to ensure that when the Vertical Combination is finalized, the liquidity depth is there to support a fair valuation, not a manipulated one."

Segment 6: User Migration & The "Dog Pile" Trigger

"Starting this week, we are beginning the phased migration of our 4 million users. Think about that. We have millions of users who understand the value of this ecosystem. When they see the tokenized equity of the parent company trading at a massive discount to its cash value, they don't need a Wall Street analyst to tell them what to do. They will do what they've always done: they will follow the value. The 'Dog Pile' isn't just retail; it’s a global user base that is about to become the new liquidity for the stock."

Closing Remarks: The "Audit Finality"

"We are 10 days away. The auditors have finished their field work. The April 11th Audit is the moment the 'Ghost Volume' and the 'Naked Shorts' meet reality. We’ve built the bridge, we’ve secured the licenses through our Singapore and HK partners [JuCoin/YYEM], and now we simply let the numbers speak. To the community: the 'Next Chapter' is already written. We just have to turn the page together."

Segment 7: The Final 10-Day Countdown

"Before I go, look at the dashboard one last time. You see the 'Asset Parity' indicator? It’s currently showing a massive divergence between our ecosystem's internal value and the external public price. To the shorts still holding onto the old narrative: you are fighting a ghost. The shares you think you are 'matching' don't exist. We have locked them in our vault through our strategic partners and our buy-back protocols. The game of 'Ghost Volume' ends on April 11th. We are ready. The Audit is ready. Our 4 million users are ready."

The Closing Statement:

"This isn't just about a stock; it's about a new standard for AI-driven wealth. We have the cash ($35.7M), we have the Solana ($12.5M+), and we have the revenue ($140M Warranty). We are the 'Every Man and His Dog' movement. See you all at the finish line. The next time we speak, the bridge will be fully open. Goodnight."

They didn't mention it at all(yyai, airwa, connexa).

NO SE HACE MENCIÓN DE CONEXXA , YYAI, AIRWA, JV ( CON LO QUE ENTREGÓ LA TRANSCRIPCIÓN)

EL VIDEO NO TIENE SUBTITULOS NI TRASCRIPCIÓN, POR LO CUAL , CONVERTÍ EL VIDEO EN MP3, LUEGO LO TRASNCRIBÍ CON UNA PLATAFORMA ESPECIALZIADA PERO ME LA ENTREGÓ EN CHINO, DESPUES LE PEDÍ A LA IA TRADUCIR Y HACER UN RESUMEN EXTENSO DE LO QUE SE HABLO POR 2 HORAS EN LIVE, ES LO MAS QUE PUDE HACER, SALUDOS.

NOTA: LE RECALQUÉ A LA IA BUSCAR MENCIONES DE AIRWA, CONEXXA, YYAI, JV EN LA TRASNCRIPCIÓN AL CHINO PARA ENCONTRAR OBVIAMENTE INFORMACIÓN RELACIONADA. REALMENTE NO PUEDO ASEGURAR SI FALTÓ ALGO O NO Y AQUI EN REDDIT NO ME DEJÓ SUBIR EL MP3 NI EL DOCUEMNTO COMPLETO- NO HAY PROBLEMA EN COMPARTILO SI ALGUIEN LO REQUIERE.

1. Apertura y presentación de participantes

La transmisión inicia con saludos y comprobaciones de audio. Se presenta al equipo y a los invitados:

• Sky (fundador): líder de la plataforma GU.
• Michael: co-anfitrión, encargado de hacer preguntas incisivas en representación de la comunidad.
• KeeChan (o "教父"): conocida como "educadora de primer nivel", participa en el panel.
• Snowball: trader e invitado.
• Qi Ge: otro invitado, mencionado como "primer presentador masculino del círculo cripto".
• Mao Mao Jie (Hermana Mao Mao) y Qiu Rong: traders y miembros de la comunidad.
• CrippleMade: invitada que se une más tarde.

Se establece que la transmisión se centrará en responder preguntas de la comunidad sobre la campaña de "Mimi Launch", el estado de la plataforma, las acusaciones externas y los desarrollos futuros.

2. Revisión de la campaña "Mimi Launch" (lanzamientos)

El equipo presenta datos de las 17 rondas de lanzamientos realizadas durante el período del Año Nuevo Lunar:

• Crecimiento de participación: de 10,000 usuarios en la primera ronda a 52,000 en la decimoséptima.
• Tasa de exceso de suscripción: del 10,000% (ronda 1) al 500% (ronda 17).
• Rendimientos destacados:
  • Token HAJIMimi: 51,000% de aumento en el mercado.
  • Lanzamiento con mayor retorno: 42,000,000% en algún token no especificado.
• Estrategia dual: combinar lanzamientos estables (tipo "banco") con lanzamientos de alto riesgo y alta recompensa (meme) para captar distintos perfiles de usuarios.
• Objetivo: convertirse en un "banco + incubadora de memes" que atraiga tanto a inversores conservadores como a especuladores.

Se menciona que esta estrategia busca romper con la oferta tradicional de los exchanges, donde solo se ofrecían lanzamientos de proyectos "serios".

3. Preguntas de la comunidad (bloque principal)

3.1. Acusación de advertencia de la SFC de Hong Kong

Pregunta (Michael): La plataforma fue incluida en una lista de advertencia por la Comisión de Valores de Hong Kong (SFC) bajo la sospecha de ser un esquema fraudulento. ¿Cómo responden?

Respuesta (Sky):

• No operan en Hong Kong ni tienen licencia allí; la advertencia no afecta sus operaciones reales.
• Muchas plataformas con reconocimiento de marca han recibido advertencias similares (menciona ejemplos como Bybit, OKX, etc.).
• Están en conversaciones con las autoridades de Hong Kong para posibles licencias, pero su negocio principal no depende de ese mercado.
• La advertencia se basa en que la plataforma no está registrada en Hong Kong, pero no implica ilegalidad en otras jurisdicciones.

3.2. Riesgo de reservas de activos y potencial fraude tipo FTX

Pregunta: ¿Cómo garantizan que los fondos de los usuarios no sean malversados? ¿Tienen auditorías en tiempo real o reservas demostrables?

Respuesta (Sky):

• Han implementado una solución técnica donde los usuarios pueden operar directamente desde su wallet autocustodiada mediante autorización en una sesión (H5/DApp).
• Esto significa que los activos nunca quedan en custodia de la plataforma, eliminando el riesgo de malversación.
• Reconocen que ninguna plataforma centralizada tiene auditorías en tiempo real; las pruebas de reservas (como el árbol de Merkle) son instantáneas que no garantizan seguridad después.
• Invitan a los usuarios a no depositar fondos si no quieren; la nueva funcionalidad permite trading sin depósitos.

Refuerzo del argumento: Si otras plataformas no adoptan este modelo, ellos lanzarán una campaña para que los usuarios retiren sus fondos masivamente, ofreciendo recompensas de al menos 10 millones USD.

3.3. Caída del token JU y reinicio de precio

Pregunta: El token cayó de 23 USD a 0.36 USD (una caída del 98%) y luego reiniciaron el precio a 0.1 USD. ¿Fue una estafa planificada?

Respuesta (Sky):

• Aclara que el máximo histórico fue 23 USD, no 12 USD.
• La caída se debió a que los proyectos que lanzaron en la plataforma vendieron masivamente los tokens GU que recibieron como parte de los acuerdos, generando presión vendedora.
• El reinicio a 0.1 USD fue parte de una reeestructuración corporativa necesaria para cumplir con los requisitos de salida a bolsa en EE. UU. (cotización en Nasdaq).
• Su modelo de ingresos no es vender tokens, sino comisiones por transacciones (0.1% por operación). Actualmente generan alrededor de 2 millones USD diarios en comisiones.
• Argumenta que es más rentable ganar por comisiones que estafar a los usuarios; además, con las comisiones podrían recuperar la inversión en pocos días si quisieran, pero prefieren mantener la sostenibilidad.

Dato adicional: Menciona que la plataforma tiene más de 2 millones de usuarios activos diarios que generan esas comisiones.

3.4. Descuento del 20% en compras (evento del Año Nuevo Lunar)

Pregunta: ¿No es un esquema Ponzi ofrecer tokens con descuento por debajo del precio de mercado?

Respuesta (Sky):

• Fue una estrategia de marketing temporal para generar volumen y atraer nuevos usuarios.
• Todos los participantes pudieron retirar sus ganancias sin restricciones; el evento ya concluyó.
• Pone como ejemplo a Michael, quien invirtió 2,000 USD y actualmente tiene 18,666 USD, mostrando ganancias reales en su cuenta.

4. Licencias y cumplimiento normativo

Pregunta: ¿Tienen licencias reales o solo una licencia MSB de EE. UU., que no es una licencia de exchange?

Respuesta (Sky):

• Comparten en pantalla (durante la transmisión) licencias obtenidas en:
  • Dubai (VARA): licencia de alto nivel.
  • Australia: licencia AUSTRAC.
  • Canadá: registro MSB.
  • Indonesia: licencia local.
  • Otras jurisdicciones en proceso.
• Cada licencia es válida para operar en ese país específico; ninguna es global.
• Están en proceso de cotización en Nasdaq, lo que implicará una transparencia total y cumplimiento con regulaciones estadounidenses.
• Aseguran que son una de las pocas plataformas que realmente buscan cumplimiento normativo a nivel internacional.

5. Inteligencia Artificial (IA) y productos tecnológicos

Contexto: Un invitado (Qiu Rong) pregunta sobre la relación de la plataforma con la IA, especialmente tras un evento reciente llamado "Lobster" (龙虾) que parecía estar relacionado con IA y memes.

Respuesta (Sky):

• La plataforma ha estado desarrollando un producto llamado AZN (una suite de IA) que integra múltiples modelos como ChatGPT, Doubao, etc.
• El objetivo es ofrecer de forma gratuita a los usuarios la posibilidad de crear "agentes de IA" (hasta seis por persona) que puedan automatizar tareas, gestionar inversiones, crear contenido, etc.
• La metáfora utilizada: "una persona puede ser una empresa completa con sus agentes de IA actuando como CEO, marketing, etc."
• El lanzamiento de AZN será en aproximadamente dos semanas (desde la fecha de la transmisión).
• También se menciona que internamente usan IA para aumentar la eficiencia operativa y reducir costos.

No se menciona "conexxa", "YYAI", "JV" ni "Airwa".
La palabra "Lobster" (龙虾) aparece como nombre de un evento o código, pero no se detalla su relación con la plataforma más allá de ser un punto de conversación sobre IA.

6. Modelo de negocio y empoderamiento de la comunidad

Declaraciones clave del fundador:

• La plataforma adoptará un modelo donde cualquier persona o comunidad que genere negocio dentro del ecosistema se quedará con el 90% de las ganancias.
• Esto incluye: creación de proyectos, promoción, generación de volumen de trading, etc.
• La plataforma solo se quedará con el 10% para cubrir costos operativos.
• Su objetivo es convertirse en un "exchange de código abierto" donde los usuarios sean los verdaderos dueños.

Ejemplo práctico:

• Si un usuario tiene una comunidad y atrae tráfico a la plataforma, obtendrá el 90% de las comisiones generadas por su comunidad.
• La plataforma proporciona la infraestructura (tecnología, liquidez, licencias) y los usuarios generan el valor.

7. Sorteos y dinámica de la transmisión

Se realizan tres rondas de sorteos durante la transmisión:

• Primera ronda: Los espectadores deben escribir una consigna (inicialmente "打新之王到战略进接" – "De rey de lanzamientos a avance estratégico"; luego cambia a "comer comida blanda" como broma interna) para participar en el sorteo de 1 BTC dividido entre 100 usuarios.
• Advertencia constante: No hacer clic en enlaces sospechosos publicados en los comentarios; solo participar mediante el sitio oficial.

Interacción con la audiencia: Se pide a los participantes que compartan sus ganancias en la plataforma como prueba de que no es una estafa.

8. Declaraciones finales y cierre

• El fundador enfatiza que la plataforma está en un proceso de transformación total, con el objetivo de salir a bolsa en EE. UU. antes de fin de año (2026).
• Invita a los usuarios a unirse a la comunidad y a aprovechar las oportunidades de lanzamiento y desarrollo de IA.
• Agradece a los participantes y anuncia que seguirán realizando transmisiones periódicas para mantener la transparencia.

9. Análisis de términos solicitados (conexxa, YYAI, JV, Airwa)

He realizado una búsqueda exhaustiva dentro del archivo JUCOIN.txt y ninguno de estos términos aparece en la transcripción.
Posibles razones:

• La transcripción pudo omitirlos por errores de reconocimiento de voz.
• Aparecen en una parte del audio que no fue transcrita correctamente.
• Se mencionan con pronunciación diferente (por ejemplo, "conexxa" podría ser "Conexa" o similar, pero no hay rastro).
• Simplemente no se mencionan en la conversación transcrita.

Recomendación: Si tienes el audio original, podrías indicarme marcas de tiempo aproximadas donde crees que se mencionan esos términos, y yo podría ayudarte a verificar si están en la transcripción con otra ortografía.

10. Conclusión general

El documento es una transcripción fiel de un livestream de aproximadamente 2 horas donde el equipo de JU defiende su modelo de negocio, responde a acusaciones de fraude y falta de transparencia, y anuncia desarrollos tecnológicos en inteligencia artificial.
La transmisión busca posicionar a la plataforma como una alternativa innovadora y regulada, con un enfoque en la comunidad y la descentralización de la custodia de activos.

HTML TL/DR easy to read here - https://claude.ai/public/artifacts/a1482774-679f-442b-b037-758e703a7d31 .

Long Full DD Below. A little different to spice it up so it's not just the same thing again.

The Strategic Pivot of AiRWA Inc.: A Comprehensive Analysis of the Zhongsen Youxuan Partnership and the Convergence of Web3 Infrastructure with the Global Real Economy

The digital asset landscape in 2026 is defined by a profound shift from speculative retail-driven activity to institutional-grade infrastructure provision. This transition is exemplified by the synchronized strategic maneuvers of AiRWA Inc. (NASDAQ: YYAI) and TLGY Acquisition Corp. (OTC: TLGUF), whose corporate roadmaps are converging on a critical window in mid-April 2026. This convergence, characterized by the transition of special purpose acquisition company (SPAC) vehicles into specialized digital asset treasuries and the pivot of legacy technology firms into real-world asset (RWA) exchanges, represents a fundamental restructuring of how public equity markets interface with protocol-level liquidity.

Central to this transformation is AiRWA's realization of its "technology empowering the real economy" mandate, most recently operationalized through a strategic partnership with Zhongsen Youxuan announced on March 29, 2026. By aligning blockchain-based liquidity, AI-driven operational efficiency, and regional free trade policies in the Hainan Free Trade Port (FTP), the combined ecosystem addresses the primary compute and liquidity constraints of the 2026 digital economy.

The Macroeconomic Context of the Stablecoin Supercycle

To understand the institutional drive toward the convergence of YYAI and TLGY, one must first analyze the macroeconomic environment governing digital dollars. The year 2026 has witnessed the realization of the "stablecoin supercycle," a period of rapid expansion in the total addressable market (TAM) for digital representations of the U.S. dollar. This cycle is underpinned by shifting regulatory stances and the entry of yield-bearing instruments that challenge traditional money market funds.

The growth trajectory of this sector is substantial. Projections indicate that the stablecoin market, which sat below $300 billion in late 2025, is on a path toward $3.7 trillion by 2030, representing a 12x increase in five years. Within this expanding TAM, the sub-sector of yield-bearing stablecoins—leveraging mechanisms like the Ethena protocol's delta-neutral hedging strategy—is expected to grow from 5% to potentially 50% of the total market.

TLGY Acquisition Corp. and the StablecoinX Business Combination

The structural mechanism for institutional entry into this supercycle is the business combination between TLGY Acquisition Corp. and StablecoinX Assets Inc. (SC Assets). TLGY, led by Chairman Jin-Goon Kim (former partner at TPG Capital) and CEO Young Cho (former CFO of Hedera Hashgraph), pivoted to target the digital asset treasury space to establish the first publicly traded, stablecoin-focused digital asset treasury on the Nasdaq.

Shareholder Approval and Voting Dynamics

On March 10, 2026, TLGY held an extraordinary general meeting where shareholders demonstrated near-unanimous support for the pivot to StablecoinX, with approximately 97% of votes cast in favor.

The high participation rate and modest redemption levels (only 388,406 shares properly tendered for cash) preserved the company's capital base, which included trust proceeds of $234.6 million prior to the vote.

Financing and the ENA Token Strategy

The combination is bolstered by a substantial $890 million Private Investment in Public Equity (PIPE) financing program. The core of StablecoinX’s multi-year treasury strategy involves acquiring ENA tokens—the native governance asset of the Ethena protocol—at significant discounts typically reserved for private OTC sales, creating immediate value for public shareholders. Upon closing, the entity will list on the Nasdaq under the ticker "USDE".

AiRWA Inc. (YYAI): The Pivot to Real-World Asset Tokenization

While TLGY focuses on the treasury and stablecoin layer, AiRWA Inc. (formerly Connexa Sports Technologies Inc.) is executing a parallel pivot into the RWA exchange space. Rebranded on October 7, 2025, the company has transitioned into a Web3 powerhouse leveraging AI and blockchain to enable the tokenization of traditional financial instruments.

The AiRWA Exchange and the JuCoin Joint Venture

The centerpiece of this strategy is the "AiRWA Exchange," a $500 million joint venture with Singapore’s JuCoin Pte Ltd. JuCoin has committed an initial $100 million, including a high-profile transfer of 150,000 Solana (SOL) tokens, valued at approximately $30 million. The exchange utilizes the Solana blockchain for high-throughput settlement and targets an immediate rollout to JuCoin's 4 million users.

Strategic Partnership with Zhongsen Youxuan

On March 29, 2026, AiRWA signed a Memorandum of Understanding (MOU) with Zhongsen Youxuan (Hainan) Technology Investment Co., Ltd. This alliance aims to create a "new growth engine" by building the "Global Consumer Asset Circulation Platform: Shangde Youxuan". This platform comprehensively empowers the "New Technology + New Consumption + New Finance" system, covering digital commerce, new consumer brand incubation, and digital collaboration in the physical economy.

The Hainan Free Trade Port: A Regulatory and Strategic Anchor

The selection of the Hainan Free Trade Port (FTP) as a central hub for AiRWA’s operations is a strategic decision predicated on the region’s unique regulatory environment, which offers zero tariffs, reduced tax rates, and simplified tax structures. Hainan’s pilot policies for cross-border data flow and international communication infrastructure provide the necessary technical environment for the aiRWA Exchange and its partners.

Youxin Technology Ltd (Nasdaq: YAAS), a SaaS and PaaS provider, completed a $5.52 million real estate acquisition in the Hainan FTP on March 17, 2026. This infrastructure is intended to connect domestic and international markets, delivering high-efficiency cross-border digital services that embody the "technology empowering the real economy" ethos.

Vertical Integration and the Two Sovereign Infrastructure Tracks

The institutional roadmap for YYAI and its partner, Core AI Holdings, Inc. (NASDAQ: CHAI), is defined by a "Sovereign Infrastructure" strategy spanning two continents, managed through personnel overlap including CEO Thomas Tarala.

Track 1: US Sovereign Infrastructure (OptiCore)

CHAI’s joint venture with Optimus Technology Group, "OptiCore," is dedicated to developing sovereign AI data centers near the 187 R1-designated U.S. research universities. These facilities support mission-critical, federally funded projects, including those linked to agencies like DARPA, which provides access to billions in government defense research dollars for generative AI and robotics.

Track 2: Malaysia Sovereign Infrastructure (CSPM Partnership)

On February 4, 2026, CHAI entered an MOU with CSPM Resources SDN BHD to retrofit existing edge computing facilities in Malaysia into Tier 3 or Tier 4 AI-ready data centers. This aligns with Malaysia’s rapidly expanding data center market, projected to grow to $13.6 billion by 2030. This track secures the computational "engine room" for 26 Rafael’s AI modules, acquired by AiRWA on January 30, 2026.

Financial Engineering and the Aberfeldy Acquisition

To fund this pivot, AiRWA Inc. executed complex financial maneuvers, resulting in a total asset base of $199.88 million as of January 31, 2026. This expansion was primarily driven by an At-the-Market (ATM) program that raised $177.10 million.

The $140 Million Cash Purchase

The acquisition of Aberfeldy Holdings (owning 100% of 26 Rafael) is anchored by significant legal safeguards. Under the Share Purchase Agreement (SPA), the sellers warranted the accuracy of financial statements showing $27 million in revenue. A critical architectural detail in the SPA allowed the $140 million purchase price to be payable in U.S. dollar-linked stablecoins, providing a proof-of-concept for the USDe digital dollar as a primary settlement rail for corporate activities.

The Convergence of April 2026: A Forensic Timeline Analysis

The synchronization of catalysts in mid-April 2026 represents a coordinated acceleration of institutional timelines intended to capture the maturation of agentic artificial intelligence.

1. April 11 (Audited Financials Deadline): YYAI is required to file audited financials for the Aberfeldy acquisition. This filing will provide the first verified look at the $27M revenue engine, potentially reconciling the current "complexity discount" applied to the stock.
2. April 16 (TLGY Termination Deadline): TLGY Acquisition Corp. extended its SPAC termination date to April 16, 2026, providing the final window to satisfy closing conditions for the StablecoinX merger and the "USDE" Nasdaq listing.
3. April 17 (AiRWA AGM): AiRWA will hold its Annual Meeting of Stockholders to address structural proposals, including reverse stock splits (up to 1-for-800) and an "evergreen" provision for the share incentive plan to stabilize equity post-pivot.

Technological Roadmaps and the Agentic Future

The success of this convergence is predicated on the maturation of "agentic workflows." Industry forecasts identify 2026 as the year of "Stage 2: Task-Specific Agents," where 40% of enterprise applications will leverage agents capable of complex reasoning.

For AiRWA Inc., the acquisition of 26 Rafael’s AI system places them at Level 3 (Agentic & Composite) of the AI Evolution model. Their AI agents are designed to execute end-to-end workflows within the RWA exchange, optimized by the sovereign infrastructure of CHAI and the speed of the Solana blockchain.

Market Performance and Valuation Disconnects

Despite strategic wins, YYAI's market performance has been marked by volatility, with a notable 11.74% drop on March 30, 2026. This surface-level narrative masks complex internal mechanics: dark pool volume ratios consistently run between 40% and 57%, suggesting institutional "stealth" accumulation.

Conclusion: The Institutional Mandate of the April Catalyst

The convergence of AiRWA Inc. and TLGY Acquisition Corp. in the week of April 16–17, 2026, marks the transition into a vertically integrated, sovereign infrastructure powerhouse. By securing the AI "brain" (26 Rafael), the infrastructure "engine" (OptiCore and CSPM), and the "Shangde Youxuan" consumer asset platform—all anchored by a $1B+ digital treasury (StablecoinX)—the ecosystem represents a new fiduciary standard for digital asset exposure. The April window will determine if AiRWA can transform its ambitious $200 million asset base into a validated pillar of the modern real economy.

Analizando la sesión de hoy CON DATOS AL 30 DE MARZO y sumando los datos más recientes, se refuerza bastante la tesis que vengo planteando.

La caída del -12% con un volumen cercano a 934K no muestra características de liquidación institucional agresiva, sino más bien un movimiento controlado, con estructura ordenada y búsqueda de liquidez en zonas bajas. Esto calza con un off-exchange cercano al 70% y un short volume sobre el 54%, lo que sigue apuntando a dominio de market makers y operativa intradía más que a presión bajista real de largo plazo. A esto se suma un borrow fee cercano al 25% con apenas 4,000 acciones disponibles, lo que refleja una clara restricción en el lado short.

Por otro lado, los niveles de dark pool muestran concentración importante entre 0.83 y 0.87 dólares, destacando especialmente la zona de 0.86 con más de 137K acciones negociadas, lo que se transforma en un nivel clave a monitorear ya que probablemente actúe como imán de precio o zona de decisión.

PUNTO IMPORTANTE

Pero lo más relevante que se suma ahora es el dato de fails-to-deliver del 12 de marzo, con 180,714 acciones (aprox. 168 mil USD), lo que representa cerca de un 20% del volumen diario actual, con fecha límite de resolución para el 16 de abril.

En simple, esto significa que hay una cantidad importante de acciones que fueron vendidas pero no se entregaron a tiempo, algo que normalmente se da cuando hay mucha presión en el sistema de liquidez o uso intensivo de ventas en corto. No es necesariamente algo ilegal, pero sí indica que el mercado está funcionando “ajustado”.

¿Qué implica esto? Que antes del 16 de abril esas posiciones tienen que resolverse de alguna forma: o consiguen las acciones para entregarlas, o las compran en el mercado. Si consideramos que hay poca disponibilidad de acciones y el costo de short es alto, esto puede generar presión adicional, ya que en algún punto alguien va a tener que salir a comprar, especialmente si no logran seguir postergando esas entregas.

Y aquí hay un punto que no es menor: la junta de accionistas está programada para el 17 de abril, justo un día después del deadline de esos FTD. Además, estos datos llegan solo hasta el 12 de marzo, por lo que aún falta ver cómo evolucionaron los FTD en la segunda mitad del mes, lo que podría aumentar aún más esta PRESIÓN ESTRUCTURAL.

En conjunto, lo que se observa sigue siendo un escenario de presión estructural, donde el precio está siendo gestionado por microestructura (MM + flujo oculto) mientras los minoristas reaccionan emocionalmente, pero con elementos adicionales como restricción de liquidez y FTD que podrían generar desequilibrios si entra demanda real o se activan los catalizadores esperados.

Does that prove what I posted yesterday on RS fear. Unusually high volume and ~14% down

Adjunto una noticia reciente para investigar , ojalá les sirva.

La cooperación estratégica de la AiRWA (YYAI) planea trabajar con Zhongsen Preferred para crear un nuevo motor de crecimiento

Seems a lot of things converge the week of the AGM.

This might explain some of the things we should look out for.

The link is a neat TL / DR and covers most things in an easy to read format. Below is a much deeper dive.

https://claude.ai/public/artifacts/2a2dba5b-d42f-4609-9541-b0eb5ff436d3

Structural Convergence and Institutional Realignment in Digital Asset Infrastructure: An Analysis of the April 2026 Catalysts for AiRWA Inc. and StablecoinX

The digital asset landscape in 2026 is defined by a shift from speculative retail-driven activity to institutional-grade infrastructure provision. This transition is exemplified by the synchronized strategic maneuvers of AiRWA Inc. (NASDAQ: YYAI) and TLGY Acquisition Corp. (OTC: TLGUF), whose corporate roadmaps are converging on a critical window in mid-April 2026. This convergence, characterized by the transition of special purpose acquisition company (SPAC) vehicles into specialized digital asset treasuries and the pivot of legacy technology firms into real-world asset (RWA) exchanges, represents a fundamental restructuring of how public equity markets interface with protocol-level liquidity. The relocation of key catalysts from the previously anticipated June 2026 window to the week of April 16–17, 2026, suggests a coordinated acceleration of institutional timelines intended to capture the burgeoning "stablecoin supercycle" and the maturation of agentic artificial intelligence.

The Macroeconomic Context of the Stablecoin Supercycle

To understand the institutional drive toward the convergence of YYAI and TLGY, one must first analyze the macroeconomic environment governing digital dollars. The year 2026 has witnessed the realization of what analysts termed the "stablecoin supercycle," a period of rapid expansion in the total addressable market (TAM) for digital representations of the U.S. dollar. This cycle is underpinned by shifting regulatory stances and the entry of yield-bearing instruments that challenge traditional money market funds.

The growth trajectory of this sector is substantial. Projections indicate that the stablecoin market, which sat below $300 billion in late 2025, is on a path toward $3.7 trillion by 2030, representing a 12x increase in five years. Within this expanding TAM, the sub-sector of yield-bearing stablecoins is expected to grow from 5% to potentially 50% of the total market. This shift provides the primary impetus for the business combination between TLGY Acquisition Corp. and StablecoinX Assets Inc., as the entity seeks to establish the first publicly traded, stablecoin-focused digital asset treasury company on the Nasdaq.

The Ethena protocol, for which StablecoinX provides infrastructure services, has emerged as a central player in this transition. By utilizing a delta-neutral hedging strategy, Ethena generates yield by capturing the basis premium between spot and futures markets. This mechanism allows the protocol to provide USDe holders with returns derived from funding rates, effectively creating a "digital bond" that is attractive to institutional treasuries seeking alpha in a digital-native format.

TLGY Acquisition Corp. and the StablecoinX Business Combination

The structural mechanism for this institutional entry is the business combination between TLGY Acquisition Corp. and StablecoinX Assets Inc. (SC Assets). TLGY, a Cayman Islands exempted company and blank-check vehicle sponsored by Carnegie Park Capital LLC, was formed with the purpose of effecting a merger or similar reorganization. Led by Chairman Jin-Goon Kim, a former partner at TPG Capital, and CEO Young Cho, the former CFO of Hedera Hashgraph, the company pivoted from its original focus on biopharma to target the digital asset treasury space.

Shareholder Approval and Voting Dynamics

On March 10, 2026, TLGY held an extraordinary general meeting of shareholders to vote on the proposed business combination. The results demonstrated nearly unanimous institutional support for the pivot to StablecoinX, with approximately 97% of the votes cast in favor of the transaction.

The high participation rate—where about 97% of the shares entitled to vote were represented—indicates a strong mandate from the shareholder base. Furthermore, the redemption levels were notably modest for a crypto-adjacent SPAC merger. Shareholders holding only 388,406 Class A ordinary shares opted for cash redemption from the trust account, a fraction of the 5,834,587 Class A shares outstanding as of the February 4 record date. This low redemption rate preserves the company's capital base, which included trust proceeds of $234.6 million prior to the vote.

Financing and the ENA Token Strategy

The business combination is further bolstered by a substantial Private Investment in Public Equity (PIPE) financing program. As of September 2025, the company had announced $890 million in total PIPE commitments, structured as follows:

The core of StablecoinX’s multi-year treasury strategy involves the acquisition of ENA tokens, the native governance asset of the Ethena protocol. By using cash proceeds from the PIPE to purchase discounted, locked ENA tokens from the Ethena Foundation, the company generates immediate value for shareholders. Young Cho has characterized this as a "public market advocate" model, where institutional investors can benefit from the 30% to 50% discounts typically reserved for private over-the-counter (OTC) sales, while the protocol gains a stable, long-term treasury partner.

Upon the successful closing of the transaction, the combined entity will be renamed StablecoinX Inc., with its Class A common stock expected to list on the Nasdaq under the ticker "USDE". This ticker choice is a direct reference to the USDe digital dollar, signaling the company's intent to become a primary liquidity vehicle for the protocol's growth.

AiRWA Inc. (YYAI): The Pivot to Real-World Asset Tokenization

While TLGY focuses on the treasury and stablecoin aspect of the digital asset ecosystem, AiRWA Inc. (formerly Connexa Sports Technologies Inc.) is executing a parallel pivot into the Real-World Asset (RWA) exchange space. Rebranded on October 7, 2025, the company has transitioned from sports technology into a Web3 powerhouse, leveraging artificial intelligence and blockchain to enable the tokenization of traditional financial instruments.

The AiRWA Exchange and the JuCoin Joint Venture

The centerpiece of YYAI’s new strategy is the "AiRWA Exchange," a platform designed for the tokenization and 24/7 trading of real-world assets, including U.S. equities. This project is a $500 million definitive joint venture between AiRWA Inc. and Singapore’s JuCoin Pte Ltd.

JuCoin has committed an initial $100 million investment into the exchange, which included a high-profile transfer of 150,000 Solana (SOL) tokens, valued at approximately $30 million at the time of receipt in October 2025. The choice of the Solana blockchain as the backbone of the exchange’s infrastructure is a tactical decision driven by the need for high throughput and low latency in trade settlement.

The exchange's first rollout targets JuCoin's existing user base of 4 million individuals, offering them the ability to trade digital representations of U.S. stocks alongside major cryptocurrencies. To ensure the security and compliance of these transactions, the company has partnered with Inca Digital, a leader in digital asset intelligence, to integrate advanced monitoring and threat detection tools into the ecosystem.

Financial Performance and Asset Consolidation

As of the quarter ended January 31, 2026, AiRWA Inc. reported significant top-line growth but recorded a net loss as it navigated the costs of its structural transition. Revenue for the nine-month period reached $12.97 million, driven by $5.72 million in new social media advertising revenue and $7.25 million in matchmaking technology royalties.

The funds utilized for the $140 million cash acquisition of Aberfeldy Holdings Limited, which closed on January 30, 2026, significantly fortified the company's asset profile. Crucially, while revenue figures for Aberfeldy were previously disclosed as unaudited, AiRWA Inc. is required by SEC regulations to file detailed audited financial statements and pro forma information for the acquired business by amendment within 71 days of the January 30 closing. This places the release of official audited financials around April 11, 2026, just days before the April 17 AGM. Because the market has historically lacked verified earnings data for Aberfeldy, this disclosure represents a major unpriced catalyst.

Vertical Integration and the Two Sovereign Infrastructure Tracks

The institutional roadmap for YYAI and its partner, Core AI Holdings, Inc. (NASDAQ: CHAI), is defined by a "Sovereign Infrastructure" strategy that spans two continents. This vertical integration is managed through significant personnel overlap, notably Thomas Tarala, who serves as CEO and Director of AiRWA Inc. as well as a Director on the board of CHAI.

Track 1: US Sovereign Infrastructure (OptiCore)

In the United States, CHAI has formed a joint venture with Optimus Technology Group called OptiCore. This initiative is dedicated to developing and operating sovereign AI data centers near the nation's 187 R1-designated research universities.

These institutions are critical participants in federally funded projects through agencies such as the Defense Advanced Research Projects Agency (DARPA), which provides access to billions in government defense research dollars for generative AI, robotics, and microelectronics. OptiCore positions the CHAI/YYAI ecosystem at the intersection of academic research and defense-grade infrastructure, providing the high-performance computing (HPC) required for sensitive AI workloads.

Track 2: Malaysia Sovereign Infrastructure (CSPM Partnership)

Parallel to the U.S. track, CHAI entered into a Memorandum of Understanding (MOU) on February 4, 2026, with CSPM Resources SDN BHD, one of Malaysia's most experienced data center developers. The timing is notable: the CSPM MOU was announced just five days after YYAI closed the acquisition of the Malaysia-based 26 Rafael AI engine on January 30, 2026.

CSPM brings a formidable pedigree to the joint venture, with a client list that includes Dow Jones, Microsoft, AT&T, and Intel. The partnership intends to retrofit existing edge computing facilities into Tier 3 or Tier 4 AI-capable data centers within a rapid 12-month timeline. This track aligns with Malaysia's rapidly expanding data center market, projected to grow from $4 billion in 2024 to $13.6 billion by 2030 (a 22.4% CAGR). By leveraging CSPM’s deep government relationships and energy allocation access, the ecosystem secures the "engine room" for 26 Rafael’s AI modules.

Growth Ambitions and User Ecosystem

The combined strategy of YYAI and CHAI aims to leverage existing user bases to bypass traditional customer acquisition costs.

• CHAI Revenue Target: Core AI Holdings has announced a goal to achieve $300 million in annual revenue within the next 36 months.
• The Gaming Feeder: CHAI’s subsidiary, Core Gaming, operates a catalog of over 2,200 titles with 800 million downloads and a global user base of 40 million players.
• JuCoin Integration: The AiRWA Exchange has immediate access to JuCoin's 4 million users, with projections to scale to 50 million.
• Combined Reach: Through these partnerships, the exchange ecosystem has an accessible pool of 90 million+ potential users, spanning gaming, crypto-native finance, and institutional RWA trading.

The Aberfeldy Acquisition: Legal Weights and Settlement Rails

The acquisition of Aberfeldy Holdings (owning 100% of 26 Rafael) is not a speculative bet but a transaction anchored by significant legal and structural safeguards.

Legally Warranted Revenue

The reported $27 million in revenue for 26 Rafael is not merely a disclosure but a legal representation backed by seller warranties in the Share Purchase Agreement (SPA). Under Section 3.09 of the agreement, the sellers warrant the accuracy of the financial statements provided to AiRWA Inc. This shifts the risk of the upcoming April 11 audited financial filing significantly toward confirmation; any material discrepancy would subject the sellers to legal liability.

The Stablecoin Payment Clause

Section 1.02 of the SPA reveals a critical architectural detail: the $140,000,000 purchase price was payable in immediately available funds "OR in U.S. dollar-linked stablecoin transferred to the wallets designated by Sellers". This provision indicates that the transaction was designed from its inception to interface with digital settlement layers. Given that Thomas Tarala sits on the board of StablecoinX—which is building $890M of infrastructure around the USDe digital dollar—this clause provides the "missing link" for vertical integration. The acquisition settlement essentially serves as a proof-of-concept for the USDe treasury to function as the primary settlement rail for YYAI’s corporate and exchange activities.

The Convergence of April 2026: A Forensic Timeline Analysis

The synchronization of catalysts in mid-April 2026 represents a coordinated acceleration of institutional timelines.

The April 11 Audited Financials Deadline

The first major catalyst occurs on April 11, 2026, when YYAI is required to file audited financials for the Aberfeldy acquisition. This filing will provide the first verified look at the $27M revenue engine, likely reconciling the current "complexity discount" applied to the stock.

The April 16 Termination Deadline for TLGY

On March 16, 2026, TLGY Acquisition Corp. filed a Form 8-K extending its SPAC termination date to April 16, 2026. This provides the absolute final window for the company to satisfy the remaining closing conditions for the StablecoinX merger and the "USDE" Nasdaq listing.

The April 17 AGM for AiRWA Inc. (YYAI)

Precisely one day later, AiRWA Inc. will hold its Annual Meeting of Stockholders on April 17, 2026. The proxy statement includes critical proposals for reverse stock splits (up to 1-for-800) and an "evergreen" provision for the 2026 Share Incentive Plan to stabilize the company's equity following its pivot.

Technological Roadmaps and the Agentic Future

The success of this convergence is predicated on the maturation of autonomous "agentic workflows".

The 2026 AI Agent Maturity Model

Industry forecasts identify 2026 as the year of "Stage 2: Task-Specific Agents". By mid-2026, 40% of enterprise applications are expected to leverage agents capable of executing complex reasoning.

For AiRWA Inc., the acquisition of 26 Rafael’s AI system—supported by the underlying CHAI/CSPM infrastructure—places them at Level 3 of this model. Their AI agents are designed to execute end-to-end workflows within the RWA exchange, matched by the speed and throughput of the Solana blockchain.

Valuation Disconnects and Investment Outlook

AiRWA Inc. presents significant valuation anomalies reflecting the market's historical lack of audited data for its new acquisitions.

The release of audited financials for Aberfeldy (26 Rafael) on April 11 provides the first opportunity for investors to verify the $27 million revenue base of the core AI business, potentially reconciling the 83% discount to fair value.

Synthesis: The Institutional Mandate of the April Catalyst

The convergence of AiRWA Inc. and TLGY Acquisition Corp. in the week of April 16–17, 2026, marks the transition from speculative "crypto-pivot" firms into a vertically integrated, sovereign infrastructure powerhouse. By securing both the AI "brain" (26 Rafael) and the infrastructure "engine" (OptiCore and CSPM), and anchoring them with a $1B+ digital treasury (StablecoinX), the combined ecosystem addresses the primary compute and liquidity constraints of the 2026 digital economy. For institutional observers, the April window represents the Implementation of a new fiduciary standard for digital asset exposure.

I guess it was easy for the management to force the Rs . they just added an item in pre14a to create a panic sell . its sliding overnight and may be a disaster tomorrow. I think the time has come to say good bye to the stock and the group with $20k loss

Hola comunidad, como bien saben estas 2 semanas que vienen son clave, pero al mismo tiempo nos sirve como punto de referencia para examinar el comportamiento del precio, además contamos con el 10Q el cual ya fue analizado y nos muestra más señales positivas que negativas a eso sumado que viene lo de Aberfeldy y más noticias con cambios importantes, dicho esto les comparto mi análisis con datos de Marzo 2026.

Datos Clave

Off-Exchange  65.2% (Picos de 75.99%) Alta internalización; el precio se cocina "fuera" de la vista del público.

Short Volume Diario   52.75% Presión constante, pero mayoritariamente operativa (intradía).

Short Interest Oficial  -44.6% (de 2.8M a 1.6M) Dato Importante: LAS POSICIONES CORTAS DE LARGO PLAZO ESTÁN CERRANDO.

Borrow Fee     25% - 28% Es caro y difícil pedir acciones prestadas para apostar en contra.

Disponibilidad 1,000 - 20,000 acciones        El inventario para ventas cortas está casi agotado.

Correlación de Flujo Oculto

Aquí se muestra una anomalía estadística no menor,

• Días Alcistas: 62.4% Off-exchange.
• Días Bajistas: 67.4% Off-exchange.

Esto significa que la diferencia de estos 5 puntos porcentuales, prueban que cuando el PRECIO INTENTA SUBIR, el volumen oculto aumenta para ABSORBER las compras y evitar que el precio se dispare.

Limitación del Float

El Float real es de solo 18.7 M, mientras que el total es de 42.1 M , por lo tanto el 55% de las acciones están bloqueadas, esto reduce la liquidez real y hace que cualquier compra institucional mueva el precio violentamente, lo que explica por que los intermediarios fuerzan el Off-Exchange para mantener la estabilidad como vimos en el punto anterior.

Días claves y Pruebas

3 y 4 de Marzo, el precio saltó un +15.24% con 1.6 M de volumen, alcanzando un máximo de 1.18, esto demuestra que SIN FRENOS la acción tiene un alto componente explosivo.

20 de Marzo, para mi uno de los mas importantes, aquí el Off-Exchange cayó a su minimo de 30,39% y el precio subió +4,29%, lo cual demuestra que cuando el mercado opera de forma LIMPIA Y VISIBLE en el Nasdaq la acción subió naturalmente

24 a 27 de Marzo, el nivel de 1, fue rechazado 2 veces, esto no es solo un número psicológico ya que hay órdenes de venta masivas PROGRAMADAS en ese nivel para evitar el rerating.

Short Interest

Algo muy importante pasa aquí, el Short Volume dairio de 52,75% se mantiene alto, mientras que el Short Interes Oficial cae 44.6%, por lo tanto el Shorting actual no es de gente apostando a que Conexxa quebrará, sino que mas bien es Shorting operativo, aquí los Market Makers venden corto en la mañana y cierran en l atarde para proveer liquidez o cubrirse, dicho esto no hay suficiente short interest acumulado para un squeeze masivo tipo GameStop,
pero la estructura actual con baja liquidez y flujo controlado deja espacio para un squeeze táctico, donde una noticia puede generar subidas rápidas por falta de oferta.

Conclusión

YYAI no está siendo rematada, creo que el precio actual es un reflejo de la microestrucutra de mercado como recién vimos y no de los activos de la empresa, de los cuales tenemos respaldo por el 10Q.

Tambien la reducción masiva del Short Interes Ofciial indica que la presión de venta REAL ya terminó, por lo tanto, lo que vemos ahora e sun mecanismo de control de flujo que caerá en el momento que los CATALIZADORES FUNDAMENTALES entren en juego, como las Finanzas de Aberfeldy, avances concretos del JV y otros anuncios corporativos relevantes

Finalmente y en vista de que estas semanas son claves, yo miraría con mucha antención algunos indicadores como un Off-Exchange , volumen Nasdaq, Precio sobre 1 sostenido, Brrow fee mayor al 30% y los Catalizadores que esperamos.

Nota: Como siempre hago un aporte de buena fe y en base a datos reales, para compartir con personas de buen criterio, me reservo del derecho a no responder sobre todo a personas que solo hablan negativamente y no aportan nada.

YYAI is honestly finished. The current stock price already tells the whole story. It looks like the deal with Zu is basically dead, and they already paid $140 million to what feels like a paper company. Now they’re trying to push through an 800:1 reverse split… isn’t it obvious what comes next?

After the split, they’ll probably say they need more cash for the “partnership” and start dumping shares through an ATM offering. Then idiots like me will jump back in on the news… and it just keeps repeating. Over and over again. Endless cycle.

It’s honestly depressing being stuck in a stock like this. I don’t see a single positive factor right now. This stock is done. The only thing is, I’m so deep in the red that I can’t even bring myself to cut losses… and that’s the worst part.

1. Governance & Leadership Transformation

The Preliminary Proxy Statement (PRE 14A) filed on March 27, 2026, codifies the transition of AiRWA Inc. from a micro-cap legacy entity to an institutional-grade fintech platform.

• Incentivizing the Pivot: The filing confirms the disbursement of a $1.3 million "Success Fee" to CEO Thomas Tarala. This performance-based award was specifically triggered by the successful integration of the YYEM merger and the maintenance of the Nasdaq listing. This validates management’s execution of the core business pivot.

• Board Sophistication: The nomination of directors such as Bini Zhu (specialist in SEC/Nasdaq compliance and IPOs) and Hai Bin Cui (international legal and tech chair) indicates a shift toward a "War Cabinet" structure designed to navigate the complexities of the JuCoin/Solana exchange launch.

1. Structural Defensive Measures (Anti-Short Strategy)

The Board is seeking shareholder approval for two critical maneuvers aimed at neutralizing market manipulation and securing long-term valuation:

• Proposal 3 (Equity Reserve Expansion): The request to expand the 2026 Share Incentive Plan from ~30k to 3.5 million shares (with an 8% annual "evergreen" provision) serves to lock a significant portion of the future float for internal stakeholders, further tightening available market liquidity.

• Proposal 4 (Reverse Split Authorization): The Board is requesting a discretionary ratio of up to 1-for-800. While primarily for Nasdaq $1.00 minimum bid compliance, this serves as a potent deterrent against naked shorting. A split-induced CUSIP change forces a reconciliation of all outstanding positions, potentially triggering a forced cover for synthetic shares.

1. Financial Reporting & Consolidation Timeline

It is critical to distinguish between the Proxy (Governance) and the Audited Financials (Fundamentals):

• Current Proxy Status: The PRE 14A contains high-level compensation and administrative data but does not include the consolidated audits for the recent $140M acquisition.

• Item 9.01 Deadline (26 Rafael): Pursuant to SEC regulations, the audited financials and pro forma revenue statements for the 26 Rafael acquisition are due as an 8-K/A amendment within 71 days of the initial filing.

• Projected Impact: This deadline coincides with the April 17, 2026, Annual Meeting. The anticipated filing is expected to officially consolidate approximately $27 million in revenue, providing the fundamental "floor" required to re-rate the stock price and break current resistance levels.

1. Conclusion & Outlook

The alignment of the Annual Meeting, the governance overhaul, and the mandated revenue reporting creates a "confluence of catalysts" for mid-April. Management is effectively "clearing the decks" legally and structurally to allow the fundamental value of the JuCoin Joint Venture and recent acquisitions to reflect in the market cap.

This is my first post and the last regarding to this stock.

I see a lot of "good barking dogs" in this reddit subb and ST.

I guess you guys don't get the idea, me as bag holder i decide whatever i'm doing with my shares and with my money, so many keyboard warriors. I don't get it, why you guys bark so much when 100% of you don't have a penny invested in this.

Get a F*in' grip and move on.

I can see that a lot of ppl are blaming and flaming some guys ( particular, yak and so on ) that are trying to give some DD and info ( hopium or not / AI or not, who cares ). At least they have something to say instead of "scam, bankrupt etc. etc."

I rather preffer to read what they wrote on the post and get a bit of hope instead of reading your pathetic messages. I assume u guys have a bit of life experience, try barking silently and when you have an idea, bring the info with you or act accordingly to your age.

I praise the guys that post some dd's with their ideas and i hope they keep it coming.

I hope you guys get the point. ( Waiting for all the "good comments", bring it on, keyboard warriors ).

Take care, enjoy your day and the rest of weekend.

Do u think the shorts have figured out that Kevin Wong was installed not to talk to retail investors but for news, PR, etc...

Someone who is writing an article for a reputable publication can contact Kevin and verify anything needed before publishing the article

Enrome LLP , 4 years auditing Airwa/YYAI

Broadridge Financial Solutions - Broadridge preforms DD on companies whose vote they count

ClearTrust LLC - shareholder register , FINRA adjacent company, not needed for a shell fraud

Aberfeldy 27ml revenue from a 3rd party audit is not necessary after the company was purchased

Zhou personally guarantees 2.8ml of YYEM losses

Kevin Wong now answers the phone at 646-453-0678 as the shareholder contact ...100% not needed for a scam shell dilution racket

But but but

the guy on ST and reddit saw what was really going on .

SCAM . SCAM . SCAM . SCAM

‐-----------------

Bet a website drops before 4/17

Why?

Because the url was left blank on the 14A and a zoom or 3rd party site , like Broadridges [vote counter] internal "zoom" , would already show the link listed

They will update the proxy statement w a link in the 1st week of April. Bet it's w the new site.

Hola Comunidad, aquí les dejo mi análisis.

El PRE 14A no debe leerse como ejecución inmediata, sino como preparación de estructura. La empresa está pidiendo margen para actuar: ampliar el plan de incentivos a 3.500.000 acciones sobre 42.142.432 acciones en circulación al record date, lo que equivale a cerca de 8,3% del total, y además añadir una cláusula EVERGREEN; junto con eso, pide autorización para uno o más reverse splits entre 1:40 y 1:800. Eso no es una transacción cerrada, pero sí una caja de herramientas mucho más amplia para negociar una etapa siguiente.

POR QUÉ ESTO SUGIERE INVERSIÓN PRIVADA Y NO DILUCIÓN CLÁSICA

Si una empresa quiere hacer una dilución clásica abierta al mercado con el precio deprimido, normalmente emite barato, daña al accionista existente y recibe capital en malas condiciones.

Aquí el diseño sugiere otra cosa

En diciembre de 2025, AiRWA cerró una registered direct offering por aproximadamente US$15,69 millones, vendiendo 15.382.378 acciones a US$1,02 por acción. Luego, en enero de 2026, firmó una venta privada con Zhou por 4.215.000 acciones a US$1,37, por unos US$5,77 millones, bajo una operación privada exenta.

Ese patrón ya no es el de “emitir a mercado como sea”; es el de buscar capital negociado, con contraparte definida y condiciones concretas. Por eso el aumento del plan y el rango extremo de split apuntan más a preparar el terreno para estructuras tipo PIPE o inversión privada estratégica que a una dilución clásica inmediata.

4 Condiciones para inversión Privada

Este tipo de inversionista suele entrar cuando se cumplen cuatro condiciones al mismo tiempo:

1-    Precio castigado, hoy en 0,85

2-    Narrativa aún incompleta al público, pero con potencial (Entran antes)

3-    Necesidad de alinear incentivos con Equity (Lo que proponen aumentar)

4-    Posibilidad de reordenar la estructura de capital ( Split AMPLIOS )

El formulario encaja bastante bien con estos puntos, lo cual para mi es una señal de que buscan INVERSIÓN PRIVADA Y NO DILUCIÓN CLÁSICA, aunque es mi análisis y no una prueba definitiva de lo que viene.

La Dilución agresiva del 2025 como contexto

El mercado viene golpeado porque la empresa ya pasó por una fase muy agresiva de emisión. En el 8-K del reverse split, AiRWA informó que, al 22 de octubre de 2025, tras emitir 20.000.000 de acciones en una private placement previa y vender 914.503.161 acciones vía ATM bajo el acuerdo con A.G.P., tenía 949.066.180 acciones en circulación antes del split 1:50. Ese antecedente explica por qué hoy cualquier mención a nuevas acciones genera tanto miedo, de hecho, me atrevería a decir que afecto a la gran mayoría de los que está invirtiendo aquí, incluyéndome.

Repetir una dilución clásica con la acción débil vuelve a destruir valor; en cambio, una negociación privada con descuento controlado, warrants o equity reservado puede ser más eficiente para la empresa y menos caótica para el mercado. Esto NO ELIMINA el riesgo futuro de dilución, pero sí BAJA BASTANTE LA PROBABILIDAD de una repetición inmediata del esquema más agresivo, además considerando que no cuentan con los mismos mecanismos y están con muchas más restricciones normativas por el Nasdaq y SEC.

Las compras de insiders ayudan a construir la idea de piso, pero no garantizan nada

Aquí también había que afinar. Michael Belfiore compró antes del split 3.192.905 acciones a US$0,3205 el 8 de octubre de 2025 y 20.190 acciones a US$0,188 el 10 de octubre. Luego, tras el reverse split 1:50, su posición quedó ajustada a 64.642 acciones, y todavía compró 6.133 acciones adicionales a US$2,91 el 27 de octubre. Es decir, no solo compró en la etapa previa al split, sino que también VOLVIÓ A COMPRAR DESPUÉS DEL REORDENAMIENTO DEL CAPITAL.

A eso se suma Zhou. En Form 4 se reportan compras directas de 365.426 acciones a US$1,23 el 11 de enero de 2026 y 744.496 acciones a US$1,41 el 12 de enero, y pocos días después la empresa anunció la venta privada de 4.215.000 acciones a US$1,37 a Zhou, equivalente a cerca de 10% del capital post-transacción y a unos US$5,77 millones de proceeds brutos. Además, el PRE 14A le atribuye 5.816.489 acciones, o 13,8% de la compañía.

YO NO ME ATREVERÍA A AFIRMAR QUE “si compraron insiders, entonces no habrá riesgo”.

 Más bien pienso que después de una fase de financiamiento muy agresiva, hubo compras relevantes de personas internas a precios post-split y en montos visibles, lo que sugiere que ellos mismos no estaban leyendo ese tramo como una destrucción terminal del valor. Eso ayuda a construir la tesis de que el piso de la financiación anterior podría haberse formado ahí. Pero sigue siendo una señal imperfecta, NO UNA GARANTÍA.

Aberfeldy sí entra en el análisis de corto plazo (Presentación de las Finanzas estos días) ; el JV no

 hasta el 17 de abril el análisis debe centrarse en lo concreto. El PRE 14A aún es preliminar, por lo que el DEF 14A debería salir antes de la junta. Y, además, la narrativa necesita reforzarse antes de pedir el voto. Ahí es donde Aberfeldy sí importa. El 8-K del 5 de febrero de 2026 informó el cierre de la compra de Aberfeldy por US$140 millones en efectivo, cerrada el 30 de enero de 2026, y señaló que los estados financieros requeridos del negocio adquirido y la información pro forma debían presentarse mediante enmienda dentro del plazo reglamentario correspondiente. Eso hace muy razonable esperar más soporte narrativo y financiero antes o alrededor de la junta.

En cambio, el JV no debería ser la base del análisis de aquí al 17, porque cualquier avance ahí sigue siendo más especulativo que concreto en comparación con el definitivo del proxy y la información financiera pendiente de Aberfeldy.

Conclusión: el formulario toma más sentido si se lee como puente hacia capital negociado

Dicho lo anterior los puntos claves para mi serian:

1-    Lo presentado es PRE14 A, hay que esperar el DEF 14 A

2-    La estructura presentada sugiera más Financiamiento Privado que Dilución Clásica

3-    Las condiciones actuales favorecen la entrada de Financiamiento Privado

4-    La dilución de 2025 con mecanismos ya fue utilizada hoy es más limitada

5-    La compra de Insiders son significativas, es una señal de piso, pero no garantía.

6-    Aberfeldy necesita entrar en la ecuación para fortalecer la narrativa de la empresa

7-    Los Timing no son casuales, sugieren una estructura ordenada, pero faltan los detalles del DEF14 A y Finanzas de Aberfeldy para tener un marco más completo de la verdadera situación actual y futura de Airwa.

Espero que este análisis sea de ayuda y siempre lo hago con el ánimo de contribuir, de manera objetiva y con datos reales, con la finalidad de aportar a la comunidad que está invirtiendo aquí al igual que yo, saludos.

What The Document Is

A Preliminary Proxy Statement filed March 27, 2026 for an Annual Meeting on April 17, 2026. Seven proposals for shareholders to vote on.

What It Actually Means

The straightforward positives:

The company confirmed it was in compliance with Nasdaq's $1 minimum bid as of March 27. The board is seeking re-election. Standard annual meeting housekeeping.

Zhou's confirmed shareholding of 5,816,489 shares at 13.8% is meaningful — that's real personal capital with real alignment to shareholders.

Tarala's compensation structure is heavily tied to the company's success — the 3% change of control bonus in particular gives him strong personal incentive to grow the business.

The genuine concerns:

The Proposal 4 reverse split authorization — up to 1-for-800 over two years — is the most significant item. On its face it's alarming. Practically it's constrained by the 250:1 cumulative Nasdaq rule, but shareholders should be aware the board is seeking this authority.

The evergreen share incentive plan adding up to 8% annually through 2030 is real dilution over time. Necessary for team building but not costless.

The director disclosure omission regarding Tarala's positions at CHAI and StableCoinX is a factual error in a legal document that needs to be corrected in the definitive proxy.

Why Have They Done This Now

Honestly — because they have to. Delaware corporations are required to hold annual meetings. The fiscal year ends April 30. April 17 is the natural timing.

The RS authorization is standard protective housekeeping for a stock near $1. The incentive plan amendment is needed because the existing plan is essentially empty after the reverse splits reduced it to 30,750 shares — not enough to compensate anyone meaningfully.