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FollowingPerpetuals.com Ltd (NASDAQ: PDC) has signed a list of non-binding terms to explore the acquisition of Alt5 Sigma Canada, Inc., a financial technology company linked to the Trump family. The financial technology company was operating under the name ALT5 Sigma Corporation until April this year. If a deal is concluded, the acquisition amount could reach up to US$15 million and could become a lifeline for a company that has been warned that it may not survive during the year.
Why sell core business?
Perpetuals.com Ltd (NASDAQ: PDC) has signed a non-binding terms sheet to acquire Alt5 Sigma Canada Inc., a profitable subsidiary of AI Financial Corporation (NASDAQ: AIFC). The terms list was disclosed in a statement on July 7 by Perpetuals chief strategy officer Matthew Nicoletti. Nicoletti said Perpetuals was still conducting due diligence and emphasized that nothing had been finalized and that the company was still assessing how the acquisition would fit into its product roadmap.
What is the connection with Trump?
AI Financial, formerly known as ALT5 Sigma Corporation (NASDAQ: ALTS), announced its name change and stock code change in April this year. The Las Vegas company recorded approximately $24.8 million in fintech revenue in 2025, processed approximately $3.5 billion in transactions, and has accumulated transaction volume of more than $8 billion since its inception. However, its loss per share for the past twelve months reached $5.86.
Alt5 has established a connection with the Trump family\'s crypto project World Liberty Financial through a $1.5 billion digital currency reserve arrangement. With this arrangement, World Liberty obtained shares in the company and a seat on the board. Eric Trump also appeared on the company\'s leadership page in March this year as a consultant and board observer, but disappeared by late April.
In its most recently filed annual report, AI Financial reported a loss of more than US$341 million and told investors it had significant doubts about whether it could continue to operate into the next year.
What steps need to be implemented before a transaction is completed?
Before the transaction is completed, Perpetuals listed the following requirements: First, due diligence must be completed, the parties agree on the price, the final document is signed, approved by the board of directors, and reviewed by regulators. The company said it will present investors at the Global Technology Virtual Investor Conference on July 9 and the Emerging Growth Conference on July 15, when questions may be raised about the proposed transaction.
