# EDGAR Filing Document

**Accession Number:** 0001419275
**File Stem:** 0001185185-25-001133
**Filing Date:** 2025-9
**Character Count:** 17107
**Document Hash:** 5fa5922af1ea710999a0674670c8d55e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001185185-25-001133.hdr.sgml**: 20250905

**ACCESSION NUMBER**: 0001185185-25-001133

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250831

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250905

**DATE AS OF CHANGE**: 20250905

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RYVYL Inc.
- **CENTRAL INDEX KEY:** 0001419275
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34294
- **FILM NUMBER:** 251297118

**BUSINESS ADDRESS:**
- **STREET 1:** 3131 CAMINO DEL RIO NORTH, SUITE 1400
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92108
- **BUSINESS PHONE:** 619-631-8261

**MAIL ADDRESS:**
- **STREET 1:** 3131 CAMINO DEL RIO NORTH, SUITE 1400
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92108

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GreenBox POS
- **DATE OF NAME CHANGE:** 20190222

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GreenBox POS, LLC
- **DATE OF NAME CHANGE:** 20180613

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ASAP Expo, Inc.
- **DATE OF NAME CHANGE:** 20071123

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): September 5, 2025 (August 31, 2025)**

**<u>RYVYL Inc.</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-34294** | **22-3962936** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (IRS Employer<br> Identification No.) |

---

**3131 Camino Del Rio North, Suite 1400 <u>San Diego, CA 92108</u>**

(Address of principal executive offices, including zip code)

**Registrant**'**s telephone number, including area code: (619) 631-8261**

**<u>Not Applicable</u>**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading symbol(s)** | **Name of each exchange on which registered** |
| **Common Stock, par value $0.001 per share** | **RVYL** | **The Nasdaq Stock Market LLC <br> (Nasdaq Capital Market)** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers**

*Resignation of Genevieve Baer and Ezra Laniado as Directors*

On August 31, 2025 (the "Termination Date"), independent directors Genevieve Baer and Ezra Laniado resigned from the Board of Directors of RYVYL Inc., a Nevada corporation (the "Company"). On September 1, 2025 the Company entered into Advisory Services Agreements (the "Consulting Agreements") with each of Mr Laniado and Ms. Baer, and continuing through August 30, 2026. Pursuant to the terms and conditions of the Consulting Agreements, each of Mr Laniado and Ms. Baer will provide services relating to advising the Company on strategic investor partnerships, investment relationships, exploration of M&A opportunities, corporate development, and such other revenue-generating advice and consulting as the Company may reasonably request from time to time. In consideration for their consulting services and in recognition of the services, the Company has agreed to pay each of Mr Laniado and Ms. Baer a cash consulting fee equal to $99,000 per annum. With prior written consent from the Company, the Company shall reimburse each of Mr Laniado and Ms. Baer for preapproved out-of-pocket travel expenses incurred by Mr Laniado and Ms. Baer on behalf of Company. Either party may terminate the Consulting Agreement upon ninety (90) days prior written notice, provided however such notice shall not be issued within the first thirty days following September 1, 2025.

Mr Laniado's and Ms. Baer's departures are for personal reasons and are not the result of any disagreements with management or the Company's Board of Directors on any matter relating to the Company's operations, policies or practices.

*Appointment of George Oliva and Gene Jones as Directors*

A brief description of the qualifications and experiences of each of Mr. Oliva and Mr. Jones are set forth below:

Mr. Oliva has served as RYVYL's CFO since October 2023. He has over 30 years of experience as a senior finance professional, with a background in corporate finance, treasury, financial planning and analysis, international tax, and strategic planning. Prior to joining RYVYL, he was Chief Financial Officer and Corporate Secretary for WiSA Technologies, Inc. since 2019. He was also a partner with Hardesty LLC, a national executive services firm, through which he provided financial consulting services to public and private companies nationwide. As Interim Chief Financial Officer of SpineEx, Inc., a California-based medical equipment manufacturer, Mr. Oliva was responsible for managing the company's financial, human resources and information technology departments. Prior to that, he served as Vice President of Finance of GameWorks, a family entertainment chain, where he developed a plan to restructure the company's business in connection with an acquisition by a lender. He also served as controller for Eva Automation, an audio company, where he implemented purchase accounting in connection with a $180 million acquisition. Mr. Oliva began his career in auditing with Arthur Andersen & Co. He earned a degree in Business Administration from the University of California, Berkeley with a dual emphasis in Accounting and Finance

Mr. Oliva has no family relationships with any of the Company's directors or executive officers, and he is not a party to, and does not have any direct or indirect material interest in, any transaction requiring disclosure under Item 404(a) of Regulation S-K. There are no arrangements or understandings between Mr. Oliva and any other persons pursuant to which he was selected as a director.

Mr. Jones previously served as RYVYL's Interim CFO and SEC Project Advisor from March 2023 to October 2023, and collaborated with the RYVYL team to complete the 2021 and 2022 financial restatements and subsequent compliance filings. He is a partner at SeatonHill Partners, LP, a firm specializing in CFO services and project-based financial leadership. With over 35 years of experience in various executive roles, including Chief Financial Officer, Chief Operating Officer, Corporate Treasurer, and Controller, Mr. Jones has contributed to both public and private equity companies, as well as venture-funded startups. He possesses a substantial history of assisting organizations of varying sizes in areas such as financial management, information technology, human resources, risk management, and technology services. His expertise extends across several key sectors, including technology services, manufacturing and distribution, retail, restaurants, legal and engineering firms, litigation support services, and physician practice management. His primary areas of focus involve organizations undergoing transitions, particularly those facing leadership changes or requiring process remediation, as well as entities in need of emergency funding or engaged in fraud detection and investigation. Mr. Jones's extensive background includes a decade with KPMG, where he oversaw several hundred engagements, executed over 40 mergers and acquisitions, and led the sales process for six different private equity firms. He earned an MBA from Indiana University and a Bachelor of Science in Accounting from St. Joseph's College. He is a licensed Certified Public Accountant in Texas.

There is no arrangement or understanding between Mr. Jones and any other person pursuant to which he was selected to serve as a director. Mr. Jones does not have any family relationships with any of the Company's executive officers or directors, and does not have any direct or indirect material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K.

**Item 8.01. Other Events.**

On September 5, 2025, the Company issued a press release announcing Mr. Laniado's and Ms. Baer's resignations, and Mr. Oliva's and Mr. Jones' appointments to the Board of the Company. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits.

99.1 [Press Release, dated September 5, 2025.](rvylex99-1.htm) <br> 104 Cover Page Interactive Data File

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| Dated: September 5, 2025 | **RYVYL Inc.** | **RYVYL Inc.** | **RYVYL Inc.** |
|  | By: | /s/ Fredi Nisan | /s/ Fredi Nisan |
|  |  | Name: | Fredi Nisan |
|  |  | Title: | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**RYVYL Appoints George Oliva and Gene Jones to Its Board of Directors**

- *Genevieve Baer and Ezra Laniado resign from the Board of Directors -*

**SAN DIEGO, CA – September 5, 2025** – RYVYL Inc. (NASDAQ: RVYL) ("RYVYL" or the "Company") has appointed current CFO George Oliva and Gene Jones to its Board of Directors. Independent directors Genevieve Baer and Ezra Laniado have resigned from the Board of Directors, effective August 31, 2025.

George Oliva has served as RYVYL's CFO since October 2023. He has over 30 years of experience as a senior finance professional, with a background in corporate finance, treasury, financial planning and analysis, international tax, and strategic planning. Prior to joining RYVYL, he was Chief Financial Officer and Corporate Secretary for WiSA Technologies, Inc. since 2019. He was also a partner with Hardesty LLC, a national executive services firm, through which he provided financial consulting services to public and private companies nationwide. As Interim Chief Financial Officer of SpineEx, Inc., a California-based medical equipment manufacturer, Mr. Oliva was responsible for managing the company's financial, human resources and information technology departments. Prior to that, he served as Vice President of Finance of GameWorks, a family entertainment chain, where he developed a plan to restructure the company's business in connection with an acquisition by a lender. He also served as controller for Eva Automation, an audio company, where he implemented purchase accounting in connection with a $180 million acquisition. Mr. Oliva began his career in auditing with Arthur Andersen & Co. He earned a degree in Business Administration from the University of California, Berkeley with a dual emphasis in Accounting and Finance.

Gene Jones served as RYVYL's Interim CFO and SEC Project Advisor from March 2023 to October 2023. Previously, he collaborated with the RYVYL team to complete the 2021 and 2022 financial restatements and subsequent compliance filings. He is a partner at SeatonHill Partners, LP, a firm specializing in CFO services and project-based financial leadership. With over 35 years of experience in various executive roles, including Chief Financial Officer, Chief Operating Officer, Corporate Treasurer, and Controller, Mr. Jones has contributed to both public and private equity companies, as well as venture-funded startups. He possesses a substantial history of assisting organizations of varying sizes in areas such as financial management, information technology, human resources, risk management, and technology services. His expertise extends across several key sectors, including technology services, manufacturing and distribution, retail, restaurants, legal and engineering firms, litigation support services, and physician practice management. His primary areas of focus involve organizations undergoing transitions, particularly those facing leadership changes or requiring process remediation, as well as entities in need of emergency funding or engaged in fraud detection and investigation. Mr. Jones's extensive background includes a decade with KPMG, where he oversaw several hundred engagements, executed over 40 mergers and acquisitions, and led the sales process for six different private equity firms. He earned an MBA from Indiana University and a Bachelor of Science in Accounting from St. Joseph's College. He is a licensed Certified Public Accountant in Texas.

Gene Jones commented: "I'm excited to return to RYVYL with the opportunity to support the company during this critical phase in its evolution. I've worked with many companies during transitions, and as an independent RYVYL board member, I look forward to providing strategic insight and governance oversight as the company pivots toward executing its crypto treasury business model."

**About RYVYL** 

RYVYL Inc. (NASDAQ: RVYL) was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business, and peer-to-peer payment transactions around the globe. By leveraging electronic payment technology for diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection, and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants, and consumers around the globe. www.ryvyl.com

**Cautionary Note Regarding Forward-Looking Statements** 

This press release includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company's current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include statements that are characterized by future or conditional words such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate" and "continue" or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information.

By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements. Risk factors affecting the Company are discussed in detail in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

**IR Contact:**

David Barnard, Alliance Advisors Investor Relations, 415-433-3777, ryvylinvestor@allianceadvisors.com