Question 1

What is AlphaTON Capital's core business?

Accepted Answer

We are a publicly traded infrastructure investor and builder focused exclusively on the Telegram and TON ecosystem, generating sustained shareholder value by scaling foundational digital businesses.

Question 2

What is AlphaTON Capital's stock ticker?

Accepted Answer

ATON (Nasdaq Capital Market).

Question 3

What is AlphaTON Capital's core business model?

Accepted Answer

Our model is to build and acquire essential infrastructure and applications within the Telegram ecosystem. We generate revenue through our AI infrastructure (compute sales), our financial products (yield), and the consolidated revenue from the companies we acquire and integrate.

Question 4

Why focus exclusively on the Telegram and TON ecosystem?

Accepted Answer

The Telegram ecosystem represents a greenfield territory with a built-in active user base of more than one billion people, offering a rare opportunity to build the economic and network utility infrastructure for a massive, ready-made community.

Question 5

What is Telegram?

Accepted Answer

Telegram is a cloud-based instant messaging app known for its speed, security, and focus on user privacy. With over 1 billion users, it has evolved into a "super app" or digital ecosystem, supporting mini-apps, bots, channels, and now, a full decentralized economy through its integration with TON.

Question 6

What is TON?

Accepted Answer

The Open Network (TON/ TON Coin) is the native cryptocurrency of The Open Network, a high-performance Layer 1 blockchain originally developed by Telegram and now operated by an independent open-source community, designed for fast, low-cost transactions and scalable applications. It is used for network fees, staking, governance, and powering payments and services integrated with Telegram's ecosystem.

Question 7

What is AlphaTON Capital's relationship with Telegram?

Accepted Answer

We are a key, independent infrastructure partner and a publicly traded NASDAQ-listed company. We are not owned by Telegram, but we are building the core components that make it The Only App you'll ever need.

Our role is to provide the foundational infrastructure for the ecosystem—from the privacy-first AI network and gaming platforms to the DeFi and payment tools that will power its economy. We are the primary builders turning Telegram into a true super-app for its billion+ users.

Question 8

What is AlphaTON Capital's M & A strategy?

Accepted Answer

We actively seek to acquire majority stakes in revenue-generating companies within the TON ecosystem. Our focus is on businesses in gaming, DeFi, and mini-app infrastructure that show strong synergy with our existing portfolio and can accelerate our growth and market dominance.

Question 9

What are the company's key assets?

Accepted Answer

Our key assets include our fleet of Nvidia B200 GPUs, our treasury of TON tokens, our planned majority stake in the mobile gaming platform GAMEE, and our portfolio of synergistic companies within the ecosystem, including equity in our portfolio companies, and the intellectual property of our proprietary platforms like HITChain and Blockchain Wire.

Question 10

What is DePIN and how does it fit into AlphaTON business strategy?

Accepted Answer

DePIN (Decentralized Physical Infrastructure Networks) allows a community to collectively own and operate physical hardware like GPUs or servers. We are a leader in this space, both by deploying our own institutional-grade hardware and by enabling a future where users can contribute their own resources to the network and earn.

Question 11

What is the #OwnYourNode initiative?

Accepted Answer

It is our decentralized AI infrastructure business, building privacy-first computing power on the TON blockchain through our Telegram Cocoon AI platform to support the next generation of AI applications.

Question 12

What is DeFi, why is AlphaTON the "bridge" to it, and why is this central to company strategy?

Accepted Answer

DeFi is financial services without traditional banks, operating on a blockchain. AlphaTON is the "bridge" because we integrate these complex tools into the simple Telegram interface and connect them to the real world (e.g., via the TON Mastercard). We support DeFi because it represents a massive financial market opportunity that protects user data sovereignty and creates high-margin revenue streams, making it fundamental to our long-term strategy.

Question 13

Is AlphaTON involved in healthcare?

Accepted Answer

Yes. Our HealthTech division includes Cyncado Therapeutics, an oncology subsidiary, and the HIT Chain project for blockchain-based insurance infrastructure.

Question 14

What is the origin of AlphaTON Capital? And why the legacy medtech business?

Accepted Answer

AlphaTON Capital was officially launched on September 4, 2025, through a strategic corporate transformation. The company, formerly known as Portage Biotech Inc. (Nasdaq: PRTG), underwent a complete pivot to focus exclusively on the digital asset opportunity within the Telegram ecosystem. This included a change of name to AlphaTON Capital Corp and a new ticker symbol on the Nasdaq exchange, "ATON."

This relaunch was initiated to unlock public market access to the TON blockchain and Telegram's billion-user ecosystem. The company immediately secured financing to acquire an initial ~$100 million in TON tokens, establishing itself as a specialized digital asset treasury company from day one.

The legacy medtech business: a strategic launchpad

The legacy medtech business, Portage Biotech, served as the critical strategic launchpad for this new vision. It provided three essential advantages:

A Public Market Vehicle: It provided an existing Nasdaq-listed corporate structure. This eliminated the need for a traditional Initial Public Offering (IPO), allowing AlphaTON to immediately access public capital markets and provide shareholders with transparent, regulated exposure to digital assets.

Immediate Access to Capital: Leveraging its public status, AlphaTON secured approximately $38.2 million in a private placement financing and a $35 million loan facility. These funds were used to establish the initial TON treasury, giving the company a significant head start.

Established Corporate Infrastructure: The legacy company provided the foundational governance, legal, and operational frameworks required to operate as a publicly traded entity. This allowed the new leadership to focus entirely on executing its digital asset strategy rather than building a company from scratch.

In essence, the legacy medtech business was the vehicle that allowed AlphaTON Capital to launch at scale, speed, and with the credibility of a Nasdaq-listed company, positioning it as a premier public market gateway to the TON ecosystem. The company is now solely focused on its new mission, with its operational strategy centered on acquiring TON tokens, generating yield through staking and validation, and developing the Telegram ecosystem.

Question 15

How is AlphaTON Capital different from a typical digital assets treasury?

Accepted Answer

While we operate within the digital asset space, AlphaTON Capital is fundamentally different from a typical crypto company. Our structure, strategy, and mission are designed to solve the problems that have kept crypto from reaching a global audience.

Unlike passive digital asset treasury companies that primarily accumulate and hold tokens, AlphaTON Capital operates as an active infrastructure builder within the TON ecosystem, deploying physical GPU infrastructure for Telegram's Cocoon AI Network and acquiring revenue-generating businesses like GAMEE that serve Telegram's billion-user base. As a NASDAQ-listed public company, AlphaTON generates diversified cash flows through AI infrastructure services, DeFi transaction fees, and consolidated operating revenues from strategic acquisitions—creating a de-risked business model that bridges traditional finance and decentralized applications rather than relying solely on token price appreciation. This approach positions ATON for valuation on operating fundamentals (EV/EBITDA multiples) rather than compressed market-to-NAV ratios typical of passive treasury strategies.

Question 16

Where can I find the company's financial reports and official filings?

Accepted Answer

All SEC filings, including quarterly (10-Q) and annual (10-K) reports, are available on the SEC's EDGAR database and can be found on our Financials & Filings page.

Question 17

How can I contact Investor Relations?

Accepted Answer

For all investor-related inquiries, please contact us through our contact page.

Question 18

Where is AlphaTON Capital's corporate headquarters?

Accepted Answer

8 The Green, Suite B, Dover, DE 19901, USA

Question 19

Where is AlphaTON Capital incorporated?

Accepted Answer

British Virgin Islands

Question 20

Fiscal Year End?

Accepted Answer

December 31.

Frequently Asked Questions

Shareowners:

BROWSE OUR COMMONLY ASKED INVESTOR-RELATED QUESTIONS

Frequently Asked Questions

Shareowners:

BROWSE OUR COMMONLY ASKED INVESTOR-RELATED QUESTIONS

1What is AlphaTON Capital's core business?

2What is AlphaTON Capital's stock ticker?

3What is AlphaTON Capital's core business model?

4Why focus exclusively on the Telegram and TON ecosystem?

5What is Telegram?

6What is TON?

7What is AlphaTON Capital's relationship with Telegram?

8What is AlphaTON Capital's M & A strategy?

9What are the company's key assets?

10What is DePIN and how does it fit into AlphaTON business strategy?

11What is the #OwnYourNode initiative?

12What is DeFi, why is AlphaTON the "bridge" to it, and why is this central to company strategy?

13Is AlphaTON involved in healthcare?

14What is the origin of AlphaTON Capital? And why the legacy medtech business?

15How is AlphaTON Capital different from a typical digital assets treasury?

16Where can I find the company's financial reports and official filings?

17How can I contact Investor Relations?

18Where is AlphaTON Capital's corporate headquarters?

19Where is AlphaTON Capital incorporated?

20Fiscal Year End?