# EDGAR Filing Document

**Accession Number:** 0001419275
**File Stem:** 0001185185-25-002199
**Filing Date:** 2025-12
**Character Count:** 13834
**Document Hash:** 87b3c93e9237b74324159cfb78f65a6d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001185185-25-002199.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0001185185-25-002199

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 20

**CONFORMED PERIOD OF REPORT**: 20251219

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251230

**DATE AS OF CHANGE**: 20251230

**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:** 251614191

**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): **December 19, 2025**

**RYVYL INC.** (Exact name of registrant as specified in its charter)

---

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

---

**3131 Camino Del Rio North, Suite 1400 San Diego, CA 92108** 

(Address of principal executive offices and zip code)

Registrant's telephone number, including area code: **(855) 201-1613**

Check the appropriate box below if the Form 8-K 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 Exchange Act:

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| | | |
|:---|:---|:---|
| **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 3.03 Material Modification to Rights of Security Holders.**

The information contained in Item 5.03 below is incorporated by reference into this Item 3.03.

**Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**

As previously disclosed, on December 15, 2025, RYVYL Inc. (the "Company") held its 2025 annual meeting of stockholders (the "Annual Meeting"). At the Annual Meeting, the Company's stockholders approved, among other proposals, an amendment to the Company's amended and restated articles of incorporation, as amended (the "Articles of Incorporation"), to increase the number of authorized shares of the Company's common stock, par value $0.001 per share (the "Common Stock"), from 100,000,000 shares to 500,000,000 shares (the "Authorized Share Increase"). Following such stockholder approval, on December 19, 2025, the Company filed a certificate of amendment to the Articles of Incorporation (the "Certificate of Amendment") with the Secretary of State of the State of Nevada to effect the Authorized Share Increase, which became effective upon filing.

At the Annual Meeting, the Company's stockholders also approved a reverse stock split of the outstanding shares of Common Stock at a ratio between one-for-twenty (1-for-20) and one-for-fifty (1-for-50) no later than June 30, 2026, with such ratio to be determined by the Company's board of directors (the "Reverse Stock Split"). On December 30, 2025, the Company, acting pursuant to the authority received from the Company's board of directors, filed a certificate of change to its Articles of Incorporation (the "Certificate of Change") with the Secretary of State of the State of Nevada to effect the Reverse Stock Split at a ratio of one-for-thirty-five (1-for-35), such that every thirty-five (35) shares of Common Stock issued and outstanding would be converted and exchanged into one (1) share of Common Stock. The Reverse Stock Split will become effective at 5:00 p.m. Eastern Time on January 1, 2026 and will begin trading on the Nasdaq Capital Market on a split-adjusted basis at the start of trading on January 2, 2026.

The Reverse Stock Split did not affect the total number of shares of Common Stock that the Company is authorized to issue, which remains as set forth pursuant to the Articles of Incorporation, as amended by the Certificate of Amendment. No fractional shares will be issued in connection with the Reverse Stock Split, and any fractional shares resulting from the Reverse Stock Split will be rounded up to the nearest whole share. The Reverse Stock Split will also have a proportionate effect on all other preferred stock, options, restricted stock units and warrants of the Company outstanding as of the effective date of the Reverse Stock Split. The new CUSIP number for the Common Stock is 39366L406.

The Company's transfer agent, VStock Transfer, LLC, is acting as exchange agent for the Reverse Stock Split.

The foregoing descriptions of the Certificate of Amendment and the Certificate of Change do not purport to be complete and are subject to, and are qualified in their entirety by reference to, the full text of each of the Certificate of Amendment and Certificate of Change, copies of which are attached to this Current Report on Form 8-K (this "Form 8-K") as Exhibits 3.1(i)(a) and 3.1(i)(b), respectively, and each of which are incorporated by reference herein.

**Item 8.01 Other Events.**

On December 30, 2025, the Company issued a press release announcing the Reverse Stock Split (the "Press Release"). A copy of the Press Release is filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.

*Forward-Looking Statements*

Exhibit 99.1 attached to this Form 8-K contains, and may implicate, forward-looking statements regarding the Company, and includes cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated.

**Item 9.01 Financial Statements and Exhibits.**

**(d) Exhibits**

---

| | |
|:---|:---|
| Exhibit No. | Name of Exhibit |
| 3.1(i)(a) | [Certificate of Amendment, effective December 19, 2025](rvylex3-1ia.htm) |
| 3.1(i)(b) | [Certificate of Change, effective January 1, 2026](rvylex3-1ib.htm) |
| 99.1 | [Press Release, issued on December 30, 2025](rvylex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL document). |

---

**SIGNATURES**

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

---

| | | |
|:---|:---|:---|
| RYVYL Inc. | RYVYL Inc. | RYVYL Inc. |
| By: | /s/ George Oliva | /s/ George Oliva |
|  | Name: | George Oliva |
|  | Title: | Interim Chief Executive Officer and Chief Financial Officer |

---

Dated: December 30, 2025

## Exhibit 3.1

**Exhibit 3.1(i)(a)**

![](ex3-1ia_001.jpg)

![](ex3-1ia_002.jpg)

![](ex3-1ia_003.jpg)

## Exhibit 3.1

**Exhibit 3.1(i)(b)**

![](ex3-1ib_001.jpg)

## Exhibit 99.1

**Exhibit 99.1**

**RYVYL Announces 1-for-35 Reverse Stock Split of Common Stock**

**Common Stock to Begin Trading on Reverse-Split Adjusted Basis on January 2, 2026**

**SAN DIEGO, CA – December 30, 2025** – RYVYL Inc. (NASDAQ: RVYL) ("RYVYL" or the "Company") today announced that its board of directors has approved a 1-for-35 reverse stock split (the "Reverse Stock Split") of the Company's common stock (the "Common Stock").

The Company believes the Reverse Stock Split is necessary to increase the market price per share of the Common Stock to better assure that it maintains compliance with the $1.00 minimum bid price required for continued listing on the Nasdaq Capital Market ("Nasdaq") under Nasdaq Listing Rule 5550(a)(2) and to make investments in the Company more attractive to investors by increasing the trading price of the Common Stock on such market. The Company obtained shareholder approval for the Reverse Stock Split on December 15, 2025 after obtaining approval from the Company's board of directors.

The Reverse Stock Split is expected to become legally effective on January 1, 2026 (the "Effective Date") upon the filing of the applicable certificate with the Secretary of State of the State of Nevada, and the Company expects the Common Stock to open for trading on Nasdaq on a split-adjusted basis on January 2, 2026 under the existing trading symbol "RVYL." The new CUSIP number for the Common Stock following the Reverse Stock Split will be 39366L 406. On the Effective Date, every 35 shares of Common Stock either issued and outstanding or held as treasury stock will be automatically reclassified into one new share of Common Stock. The par value per share of the Common Stock will remain unchanged at $0.001 per share.

No fractional shares will be issued in connection with the Reverse Stock Split. Fractional shares resulting from the Reverse Stock Split will be rounded up to the nearest whole share. The rights and privileges of the holders of shares of Common Stock will be substantially unaffected by the Reverse Stock Split.

Stockholders who hold their shares in brokerage accounts or in "street name" will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to each broker's particular processes, and will not be required to take any action in connection with the Reverse Stock Split. Registered stockholders holding pre-split shares of the Company's Common Stock electronically in book-entry form are not required to take any action to receive post-split shares.

**About RYVYL**

RYVYL Inc. (NASDAQ: RVYL) operates a digital payment processing business enabling transactions around the globe and provides payment solutions for underserved markets. 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. 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. Such forward-looking statements include statements regarding the timing and effects of the Reverse Stock Split. 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, including the risk that the Reverse Stock Split will not guarantee that the Company regains compliance with Nasdaq's listing requirements or will remain in compliance with all other requirements for continued listing on Nasdaq. Other risk factors affecting the Company are discussed in detail in the Company's filings with the U.S. Securities and Exchange Commission. 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.

**RYVYL IR Contact:**

Richard Land, Alliance Advisors Investor Relations

973-873-7686 ryvylinvestor@allianceadvisors.com