Datavault AI shares fell 49.55% to $0.067 on Oct. 27 after the company disclosed in a filing with the SEC that it has been unable to withdraw Bitcoin held at Biconomy since June. Datavault AI nevertheless recovered 491.431 BTC from Scilex, while an agreement covering 837 BTC remains subject to a definitive contract. The company must restate four sets of financial statements, reducing reported assets by $8.1 million as of Sept. 30, 2025, $92.2 million at the end of 2025, $57.1 million as of March 31 and $49 million as of June 30. It will reclassify the Bitcoin received under the $150 million agreement with Scilex as a subscription receivable and reverse the crypto gains and losses it recorded. Management is now reassessing the company’s ability to continue operating because it can no longer treat the Bitcoin as a source of liquidity and considers the collection of the amount owed by Scilex uncertain.
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