Commercial Credit Report for Ryvyl Inc

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	Ryvyl Inc
3131 CAMINO DEL RIO NORTH, SUITE 1400
Phone: (619) 631-8261p:619 631-8261	SAN DIEGO, CA 92108 United States	Ticker: RVYLRVYL

On 5/3/2024, the Securities and Exchange Commission (SEC) charged BF Borgers CPA PC and its owner, Benjamin F. Borgers, with significant violations of Public Company Accounting Oversight Board (PCAOB) standards across more than 1,500 SEC filings from January 2021 to June 2023. The charges included falsely representing compliance with PCAOB standards to clients, fabricating audit documentation, and inaccurately stating compliance in audit reports. According to the SEC's order, of 369 BF Borgers' clients whose public filings from January 2021 through June 2023 incorporated the firm's audits and reviews, at least 75 percent of the filings incorporated audits and reviews that did not comply with PCAOB standards. The financials in this report may include past audits and reviews conducted by BF Borgers CPA PC that are deemed not compliant with PCAOB standards.

Business Summary

RYVYL Inc. is a financial technology company that develops, markets, and sells blockchain-based payment solutions. Its core focus is to develop and monetize disruptive blockchain- based applications, integrated within an end-to-end suite of financial products, capable of supporting a multitude of industries. Its blockchain-based systems are designed to facilitate, record and store a virtually limitless volume of tokenized assets, representing cash or data, on a secured, immutable blockchain-based ledger. Its products include QuickCard Payment System, Coyni Platform, and ChargeSavvy. QuickCard Payment System is a physical and virtual payment card processing management system, including software that facilitates on and off ramp e-wallet management. The Coyni Platform offers custodial assurance by utilizing its stablecoin and blockchain technology in a closed-loop ecosystem. ChargeSavvy is its POS solution, comprising both software and hardware for the restaurant and hospitality industry.

Scores and Ratings

FRISK^® Score	Z'' Score	PAYCE^® Score	DBT Index	Moody's Rating	Fitch Rating	DBRS Rating
Yes	Yes	-	-	-	-	-

Financials, News and Filings

Latest Statement	Last Audit	News	SEC Filings	Bankruptcy Filings	Suit & Judgment Filings	Tax Lien Filings
6/30/2024	12/31/2023	Yes	Yes	-	-	Yes

Industries

SIC Code	Description
7372	Prepackaged software

Officers and Directors

Title	Name	Age	Title Date	Start Date
Chairman of the Board, Executive Vice President	BenErrez	62	1/1/2020	7/1/2017
Chief Executive Officer	FrediNisan
Chief Executive Officer (Principal Executive Officer), Director	FrediNisan	41	7/1/2017	7/1/2017
7 additional Officers and Directors records available in full report.

Business Names

Business Name
ASAE
ASAP Expo, Inc.
ASAP International Holdings
14 additional Business Names available in full report.

General Information

Number of Employees:	99	(As of 12/31/2023)
Outstanding Shares:	6,755,199	(As of 8/12/2024)
Shareholders:	220
Stock Exchange:	NASD
Federal Tax Id:	223962936

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