mNAV MoamNAV1.11×
EV mNAV†1.21×
Coins/share growth—
Inputs and sources
| Item | Value | As of | Source |
|---|---|---|---|
| ETH price | $2,245.89 | 2026-11-07 16:18 KST | Binance |
| Stock price | 1,780.00 KRW | 2026-11-06 15:30 KST | Yahoo Finance |
| Coins held | 11,730 | 2026-10-13 | IR |
| Shares outstanding | 22,362,730 | 2026-06-30 | 10-Q |
| Cash & USD assets | $1,679,503 | 2026-06-30 | 10-Q |
| Debt (face) | $4,470,939 | 2026-06-30 | 10-Q |
| Preferred (liquidation pref.) | none | — | — |
Calculation
- Coin value
- 11,730 × $2,245.89 = $26.3M
- Market cap
- 22,362,730 sh × $1.31 = $29.2M
- mNAV
- $29.2M ÷ $26.3M = 1.11×
- EV mNAV
- ($29.2M + debt $4.5M + preferred 0 − cash $1.7M) ÷ $26.3M = 1.21×
- Coins / 1,000 shares
- 0.5245 ETH
- 1.0× price
- ₩1,606 ($1.18)
- Implied ETH price
- $2,488.62
- Debt/NAV
- 17%
Calculator
Stock at current mNAV (1.11×)—
Stock at 1.0×—
mNAV—
Implied ETH price—
mNAV history
Holdings history as reported
| As of | Holdings | Change | Shares | Source |
|---|---|---|---|---|
| 2026-10-13 | 11,730 | IR |