The U.S. stock market saw a sharp increase in Know Labs, Inc. (NYSE: KNW) on Monday, finishing 94.87% higher at $3.04 a share. This increase came after Goldeneye 1995 LLC, a company connected to fintech entrepreneur and former Ripple Chief Risk Officer Greg Kidd, announced a sizable stock deal.
Greg Kidd to Lead Know Labs
The agreement will provide Goldeneye 1995 LLC a majority stake in Know Labs. Upon completion, Greg Kidd will assume the roles of Chief Executive Officer and Chairman of the Board.
The purchasing plan calls for using 1,000 Bitcoins and extra funds to finance the purchase of shares at a price of $0.335 apiece. The money will be used to pay down outstanding preferred equity, repay current debt, and supply working capital.
Introducing the Bitcoin Treasury Strategy
Know Labs’ treasury management will be built upon the 1,000 Bitcoin infusion, indicating a significant shift in company strategy. This move positions the company as a pioneer in leveraging digital assets within public markets. The Bitcoin holdings, expected to comprise the majority of KNW’s balance sheet, will be monitored using a multiple of net asset value (mNAV) metric to reflect investor sentiment.
Based on current calculations and assuming Bitcoin is valued at $105,000 per unit, the company’s market capitalization of $128 million implies an mNAV multiple of 1.22x, with Bitcoin accounting for approximately 82% of total market value.
Research Division Continues Under Founder
The founder of Know Labs, Ron Erickson, will serve as president of a newly established department devoted to the company’s research into diagnostic technologies. He will also serve as Vice Chairman of the Board. The division will maintain its scientific team to advance KNW’s proprietary non-invasive medical technologies.
The transaction, which has received unanimous approval from Know Labs’ Board of Directors, is expected to close in the third quarter of 2025, subject to shareholder approval and standard closing conditions.
