Vemanti is a small holding company with two businesses: a legacy VoIP telecom operation in the U.S. and a pre-revenue fintech initiative targeting Vietnam. The VoIP business operates through VoiceStep, a wholly owned subsidiary that resells cloud-based business phone systems and VoIP services to small U.S. businesses, including dental offices, salons, and real estate firms. Customers subscribe on monthly or annual plans for features like call routing, conferencing, SMS, and voicemail. VoiceStep resells wholesale VoIP capacity from third-party providers and does not operate its own network. The customer base is small and concentrated, with five customers accounting for over 64% of revenue, and management acknowledges VoiceStep has no growth plans given capital constraints and a saturated market. Vemanti's stated strategic focus is a digital banking platform for Vietnamese SMEs, built in partnership with PVcomBank, a licensed Vietnamese bank. Under the planned arrangement, Vemanti builds and operates the front-end platform and handles customer acquisition, while PVcomBank provides the banking license, credit underwriting, and core banking infrastructure. The platform is intended to offer SMEs short-term working capital loans starting with accounts receivable financing, targeting a market where only around 30% of Vietnamese SMEs have access to formal bank lending. As of the filing, the platform remains in design and testing with no customers and no revenue, and the revenue-sharing terms between Vemanti and PVcomBank have not yet been finalized.