AppYea announced a rapid acceleration of its internal review toward a potential uplisting to a U.S. national securities exchange such as Nasdaq or NYSE American, a planned name change to Mellatrix Inc., and the completion of its acquisition of the blockchain‑based results‑verification platform Techlott. The company has not yet filed an application but is moving forward with the necessary steps, including updates to its ticker symbol and CUSIP once regulatory approvals are obtained.
The company’s Q2 2025 financial results underscore the urgency of the pivot. Total sales fell to $1,000,000, a 50% decline from the $2,000,000 reported in Q2 2024, while the company posted a net loss of $6,000,000 compared with a $181,000 net income in the same quarter last year. A separate quarter‑end report for September 30, 2024, showed a $512,000 loss, and the Form 10‑K for 2024 highlighted negative working capital and a “going concern” qualification. These figures illustrate the financial precariousness that underpins the urgency of the uplisting and rebranding effort.
Techlott was acquired on August 21, 2025, and the platform is described as an institutional‑grade blockchain lottery and gaming system. While the transaction value has not been disclosed, the acquisition is central to AppYea’s strategy to shift from its legacy digital‑health focus to a new business model that leverages blockchain for gaming and prediction markets. The company aims to close the transaction before year‑end 2025 and to use Techlott as the foundation for its new revenue streams.
Uplisting to Nasdaq or NYSE American requires meeting stringent financial and governance standards, including minimum market capitalization, shareholder equity, and audited financial statements. AppYea is currently listed on the OTCQB under the symbol APYP and faces significant hurdles given its negative working capital and recent losses. The company’s management has indicated that it will pursue the necessary capital raising and operational improvements to satisfy these requirements, but the path remains challenging.
Rebranding to Mellatrix Inc. signals a deliberate shift away from the company’s original digital‑health identity. By adopting a new name and ticker, AppYea seeks to align its public image with its new focus on blockchain technology and gaming, thereby distancing itself from the legacy product line and potentially improving investor perception of its future prospects.
CEO Yakir Abadi, who joined the company in August 2025, emphasized that the company’s strategy hinges on disciplined cost management and rapid commercialization of the Techlott platform. Abadi stated that the company is “focused on achieving operational leverage and securing the capital needed to meet listing requirements while delivering on the promise of a new, high‑growth business model.”
The announcement carries significant implications for liquidity and investor access. An uplisting would broaden the company’s shareholder base and improve market visibility, potentially unlocking new capital‑raising opportunities. However, the company’s current financial condition and the need to complete the Techlott integration before year‑end 2025 introduce substantial risks. Investors will likely weigh the potential upside of a new blockchain‑driven business against the challenges of meeting exchange listing standards and the company’s ongoing financial uncertainty.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.