Above Food Ingredients has cleared all corporate debt and is forecasting more than $30m in profit for the fiscal year ending 31 January 2026, as it continues to work towards a planned merger with Palm Global.
The Canadian agricultural and food technology company entered a definitive merger agreement with Palm Global in July 2025.
The deal was unanimously approved by the boards of both businesses.
Above Food said its audit is under way, led by a newly appointed auditor described as having expertise in “digital asset tokenisation and stablecoin infrastructure.”
The company looks to submit its Form 20-F by 12 December 2025 and stated that it has not sought the additional 180-day extension available under Nasdaq regulations.
The management said its restructuring programme initiated in alliance with Palm Global has helped eliminate all corporate debt, setting up a foundation for sustainable profitability and longterm growth.
However, the group said that the financial year ended 31 January 2025 will reflect a loss connected to those restructuring activities.
The company reported that integration with Palm Global is accelerating, with senior leaders from both organisations collaborating on technical integration plans, operational frameworks, as well as overall strategic alignment.
Above Food CEO and executive chairman Lionel Kambeitz said: ”Our recent meetings with Palm Global in the UAE reaffirm the vast scale of their opportunities. The momentum generated through Palm Global is truly unprecedented, and we are extremely excited about the path forward as we look forward to sharing further updates in the near future.”
