{"url_path":"/sec/suig/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1425355/0001654954-26-004627-index.html","accession_number":"0001654954-26-004627","cik":"0001425355","ticker":"SUIG","issuer_name":"SUI Group Holdings Ltd.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1425355/0001654954-26-004627-index.html","primary_entity_key":"0001425355","primary_entity_name":"SUI Group Holdings 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STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**WASHINGTON, D.C. 20549**\n\n__________________________\n\n \n\n**FORM 10-Q**\n\n__________________________\n\n \n\n(Mark One)\n\n☒\n\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor the quarterly period ended March 31, 2026\n\n \n\n**or**\n\n \n\n☐\n\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor the transition period from _______________________ to ___________________\n\n \n\nCommission File Number 001-41472\n\n__________________________\n\n \n\n**SUI GROUP HOLDINGS LIMITED**\n\n(Exact name of registrant as specified in its charter)\n\n__________________________\n\n \n\n**Minnesota**\n\n \n\n**90-0316651**\n\n(State or other jurisdiction of incorporation or organization)\n\n \n\n(I.R.S. Employer Identification No.)\n\n \n\n \n\n \n\n**1907 Wayzata Blvd, #205, Wayzata, Minnesota**\n\n \n\n**55391**\n\n(Address of principal executive offices)\n\n \n\n(Zip Code)\n\n \n\n**(952) 479-1923**\n\n(Registrant’s telephone number, including area code)\n\n__________________________\n\n \n\n**Mill City Ventures III, LTD**\n\n(Former name, former address and former fiscal year, if changed since last report)\n\n__________________________\n\n \n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\n**Title of each class**\n\n \n\n**Trading Symbol(s)**\n\n \n\n**Name of each exchange on which registered**\n\nCommon Stock, $0.001 par value\n\n \n\nSUIG\n\n \n\nThe Nasdaq Stock Market LLC\n\n(Nasdaq Capital Market)\n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes     ☐ No\n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). ☒ Yes     ☐ No\n\n \n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer\n\n☐\n\nAccelerated filer\n\n☐\n\nNon-accelerated filer\n\n☒\n\nSmaller reporting company\n\n☒\n\n \n\n \n\nEmerging growth company\n\n☐\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes     ☒ No\n\n \n\nAs of May 8, 2026, Sui Group Holdings Limited had 76,802,872 shares of common stock, and no other classes of capital stock, outstanding.\n\n \n\n \n\n \n\n \n\nSUI GROUP HOLDINGS LIMITED\n\n \n\nIndex to Form 10-Q\n\nfor the Quarter Ended March 31, 2026\n\n \n\n[PART I.](#P1)\n\n[FINANCIAL INFORMATION](#P1)\n\n \n\nPage No.\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 1.](#I1)\n\n[Financial Statements (unaudited)](#I1)\n\n \n\n4\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n[Condensed Balance Sheets – March 31, 2026 and December 31, 2025](#BS)\n\n \n\n4\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n[Condensed Statements of Operations – Three months ended March 31, 2026 and March 31, 2025](#OP)\n\n \n\n5\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n[Condensed Statements of Shareholders’ Equity – Three months ended March 31, 2026 and March 31, 2025](#EQ)\n\n \n\n6\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n[Condensed Statements of Cash Flows – Three months ended March 31, 2026 and March 31, 2025](#CF)\n\n \n\n7\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n[Notes to Financial Statements](#NOTE)\n\n \n\n8\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 2.](#I2)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#I2)\n\n \n\n17\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 3.](#I3)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#I3)\n\n \n\n23\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 4.](#I4)\n\n[Controls and Procedures](#I4)\n\n \n\n23\n\n \n\n \n\n \n\n \n\n \n\n \n\n[PART II.](#P2)\n\n[OTHER INFORMATION](#P2)\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 1.](#IT1)\n\n[Legal Proceedings](#IT1)\n\n \n\n24\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 1A.](#i1a)\n\n[Risk Factors](#i1a)\n\n \n\n24\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 2.](#IT2)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#IT2)\n\n \n\n26\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 3.](#IT3)\n\n[Defaults Upon Senior Securities](#IT3)\n\n \n\n26\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 4.](#IT4)\n\n[Mine Safety Disclosures](#IT4)\n\n \n\n26\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 5.](#IT5)\n\n[Other Information](#IT5)\n\n \n\n26\n\n \n\n \n\n \n\n \n\n \n\n \n\n[Item 6.](#IT6)\n\n[Exhibits](#IT6)\n\n \n\n27\n\n \n\n \n\n \n\n \n\n \n\n \n\n[SIGNATURES](#SIG)\n\n \n\n28\n\n \n\n \n\n \n\n2\n\n*Table of Contents*\n\n \n\n**FORWARD-LOOKING STATEMENTS**\n\n \n\nThis quarterly report on Form 10-Q (the “Report”) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements relate to future events or future financial performance of Sui Group Holdings Limited (the “Company,” “SUI Group,” or “we”), and can ordinarily be identified by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar words.  Some of the forward-looking statements contained in this Report relate to, and are based the Company’s current assumptions regarding, the following:\n\n  \n\n \n\n·\nthe expected benefits of the Company’s rebranding;\n\n \n\n \n\n \n\n \n\n·\nthe ability of the Company to execute its plans;\n\n \n\n \n\n \n\n \n\n·\nthe Company’s digital asset treasury strategy;\n\n \n\n \n\n \n\n \n\n·\nthe digital assets to be held by us and future performance;\n\n \n\n \n\n \n\n \n\n·\nthe success of the Company’s investments;\n\n \n\n \n\n \n\n \n\n·\nthe Company’s relationships with third parties;\n\n \n\n \n\n \n\n \n\n·\nthe dependence of the Company’s success on the general economy and its impact on the industries in which the Company operates;\n\n \n\n \n\n \n\n \n\n·\nthe Company’s regulatory structure and tax treatment;\n\n \n\n \n\n \n\n \n\n·\nthe adequacy of the Company’s cash resources and working capital; and\n\n \n\n \n\n \n\n \n\n·\nthe timing of cash flows.\n\n \n\nForward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Applicable risks and uncertainties include, among others, the Company’s ability to achieve profitable operations; fluctuations in the market price of SUI and other digital asset tokens that will impact the Company’s accounting and financial reporting; government regulation of cryptocurrencies; changes in securities laws or regulations; changes in business, market, financial, political and regulatory conditions; risks relating to the Company’s operations and business, including the highly volatile nature of the price of cryptocurrencies; the risk that the Company’s stock price may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries in which the Company does and will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purpose; expectations with respect to future performance, growth and anticipated acquisitions; potential litigation involving the Company or the validity or enforceability of the intellectual property of the Company; global economic conditions; geopolitical events and regulatory changes; access to additional financing, and the potential lack of such financing; and the Company’s ability to raise funding in the future and the terms of such funding, including dilution caused thereby, as well as other risks and uncertainties discussed under “Item 1A. Risk Factors” in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2026 (the “Annual Report”), and in other filings made by the Company from time to time with the SEC. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this filing. The forward-looking statements made in this Report relate only to events as of the date on which the statements are made.\n\n \n\n \n\n3\n\n*Table of Contents*\n\n \n\n**PART I.  FINANCIAL INFORMATION**"}