Trump-Linked AI Financial Sells Canadian Unit to Prime Delta
Synopsis
The fintech firm will receive a US$12 million promissory note and 11.6 million Prime Delta shares for ALT5 Sigma Canada, weeks after a previous sale collapsed.
AI Financial has agreed to sell its Canadian subsidiary, ALT5 Sigma Canada, to New York-based Prime Delta for a US$12 million secured promissory note and about 11.6 million Prime Delta shares.
That deal was announced in a regulatory document on Aug. 7. The note is scheduled to be paid to AI Financial next week, with the balance to be repaid as part of the deal.
Deal Follows Failed Acquisition
The sale follows Perpetuals.com's proposed acquisition of ALT5 Sigma Canada, which it had announced several weeks ago. In July, the previous deal was ended without a specific reason being provided.
In May 2024, AI Financial, a payments company, acquired payment firm ALT5 Sigma, and subsequently in May 2025, it acquired payments firm Mswipe. In April 2026, the group restructured its name from ALT5 Sigma Corporation to AI Financial Corporation and its NYS stock symbol from ALTS to AIFC.
The Canadian entity is part of AI Financial's fintech business based on digital-asset payments and financial services.
Latest Results Show Heavy Loss
For the 13 weeks ending March 28, 2026, AI Financial had revenue of US$4.71 million, which was a decrease of 16.8 percent from the corresponding period of the prior year when it had revenue of US$4.85 million.
The company reported a net loss of US$271.49 million for the quarter compared with a net loss of US$2.39 million for the same period a year ago. The most recent loss comprised a US$348.3 million unrealised loss on cryptocurrency assets.
As at March 28, AI Financial had current assets of US$32.2 million and current liabilities of US$39.1 million. It also funded its operating activities in the quarter by using about US$12.3 million in cash.
The numbers are from AI Financial's quarterly report to the US Securities and Exchange Commission. In the filing, the company reported a high degree of uncertainty about its ability to operate as a going concern within one year of the date of the filing.
Source: Reuters
Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
