{
  "schema_version": "1.0",
  "data_version": "2026.10.22.1",
  "generated_at": "2026-10-22T21:14:39Z",
  "taxonomy_version": "1.1",
  "records": [
    {
      "id": "MSTR-001",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 1,
      "date": "2024-09-17",
      "date_raw": "2024-09-17/18 (ann.); completed 2024-09-19",
      "speaker": "Company",
      "venue": "Press release (8-K Ex. 99.1)",
      "venue_class": "sec_filing",
      "claim": "Offer $700M convertible senior notes due 2028 (144A) to acquire bitcoin; upsized at pricing",
      "claim_class": "transactional",
      "claim_subtype": "financing, BTC purchase",
      "target": "$700M → $1.01B principal, 0.625% coupon, due 2028",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Completed 2024-09-19; $997.4M net proceeds (8-K 2024-09-20)",
      "resolution_authority": "SEC filing (8-K 2024-09-20)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "hit",
      "result_detail": "HIT",
      "result_v10": "hit",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-002",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 2,
      "date": "2024-10-30",
      "date_raw": "2024-10-30",
      "speaker": "Phong Le (CEO) + company",
      "venue": "Press release (Q3 2024 earnings, 8-K Ex. 99.1)",
      "venue_class": "sec_filing",
      "claim": "\"21/21 Plan\": raise $21B equity (ATM) + $21B fixed income over 3 years; \"plan to use the additional capital to buy more bitcoin\"",
      "claim_class": "strategic",
      "claim_subtype": "financing, BTC purchase",
      "target": "$42B total · 3 yrs (2025–2027)",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Equity leg fully sold by May 2025 (VanEck; May 1 2025 PR); fixed-income leg ≈ $5B converts + ~$1.7B preferreds, then plan superseded by 42/42 (May 1 2025)",
      "resolution_authority": "Formal PR (May 1 2025) + secondary research (VanEck) — flagged: pacing detail rests on secondary source",
      "resolution_authority_level": 1,
      "resolution_state": null,
      "result": "partial",
      "result_detail": "PARTIAL (~60%)",
      "result_v10": "partial",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-003",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 3,
      "date": "2024-10-30",
      "date_raw": "2024-10-30",
      "speaker": "Company",
      "venue": "SEC filing (8-K + 424B5)",
      "venue_class": "sec_filing",
      "claim": "Establish $21B at-the-market common-stock program",
      "claim_class": "transactional",
      "claim_subtype": "financing, dilution",
      "target": "Up to $21B MSTR sales, from time to time",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Fully utilized by May 1 2025 → replaced by new $21B ATM (May 1 2025 PR; VanEck)",
      "resolution_authority": "Formal PR (May 1 2025) + secondary research (VanEck)",
      "resolution_authority_level": 1,
      "resolution_state": null,
      "result": "hit",
      "result_detail": "HIT",
      "result_v10": "hit",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-004",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 4,
      "date": "2024-10-30",
      "date_raw": "2024-10-30",
      "speaker": "Company",
      "venue": "Press release (Q3 2024 earnings)",
      "venue_class": "sec_filing",
      "claim": "Long-term target: annual BTC Yield of 6–10% between 2025 and 2027",
      "claim_class": "strategic",
      "claim_subtype": "KPI",
      "target": "6–10%/yr · 2025–2027",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "2025 actual BTC Yield 22.8% — exceeded range (Q4 2025 PR, Feb 5 2026); target itself superseded Feb 5 2025",
      "resolution_authority": "Formal PR (Q4 2025)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "hit",
      "result_detail": "HIT (exceeded; target superseded Feb 5 2025)",
      "result_v10": "hit",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-005",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 5,
      "date": "2025-01-27",
      "date_raw": "2025-01-27 (ann.); priced 2025-01-30",
      "speaker": "Company",
      "venue": "Press release + 8-K",
      "venue_class": "sec_filing",
      "claim": "STRK IPO: 7.3M shares of 8% Series A Perpetual Strike Preferred @ $80 ($584M gross, $563.4M net); proceeds for BTC + working capital",
      "claim_class": "transactional",
      "claim_subtype": "financing, BTC purchase",
      "target": "$563.4M net · close 2025-02-05",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Closed 2025-02-05 per terms (8-K 2025-02-03)",
      "resolution_authority": "SEC filing (8-K 2025-02-03)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "hit",
      "result_detail": "HIT",
      "result_v10": "hit",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-006",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 6,
      "date": "2025-02-03",
      "date_raw": "2025-02-03",
      "speaker": "Company",
      "venue": "SEC filing (424B5)",
      "venue_class": "sec_filing",
      "claim": "Establish $21B STRK at-the-market program",
      "claim_class": "transactional",
      "claim_subtype": "financing",
      "target": "Up to $21B STRK sales",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "~$875M drawn by Mar 2025 (VanEck); only $3.4M STRK sold in Q1 2026 — program live but marginal after STRC launch (Q1 2026 PR)",
      "resolution_authority": "—",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "open",
      "result_detail": "OPEN",
      "result_v10": "open",
      "scored_in_trust": false,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-007",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 7,
      "date": "2025-02-05",
      "date_raw": "2025-02-05",
      "speaker": "Company",
      "venue": "Press release (Q4 2024 earnings, 8-K Ex. 99.1)",
      "venue_class": "sec_filing",
      "claim": "2025 targets: BTC Yield ≥15%; new BTC $ Gain target $10B",
      "claim_class": "strategic",
      "claim_subtype": "KPI",
      "target": "15% · $10B · FY2025",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Actuals 22.8% / $8.9B (Q4 2025 PR): yield leg exceeded, $ gain leg missed as stated; both targets raised May 1 2025",
      "resolution_authority": "Formal PR (Q4 2025)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "partial",
      "result_detail": "PARTIAL (1 of 2 legs)",
      "result_v10": "partial",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-008",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 8,
      "date": "2025-02-18",
      "date_raw": "2025-02-18/20 (ann.); settled 2025-02-24",
      "speaker": "Company",
      "venue": "Press release (8-K Ex. 99.1)",
      "venue_class": "sec_filing",
      "claim": "Offer $2B 0% convertible senior notes due 2030 (144A, +$300M greenshoe) for BTC",
      "claim_class": "transactional",
      "claim_subtype": "financing, BTC purchase",
      "target": "$2B principal, 0% coupon, due 2030",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Settled 2025-02-24 (8-K 2025-02-24)",
      "resolution_authority": "SEC filing (8-K 2025-02-24)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "hit",
      "result_detail": "HIT",
      "result_v10": "hit",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-009",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 9,
      "date": "2025-03-18",
      "date_raw": "2025-03-18 (ann.); priced 2025-03-20",
      "speaker": "Company",
      "venue": "Press release (8-K Ex. 99.1; strategy.com)",
      "venue_class": "sec_filing",
      "claim": "STRF IPO: upsized $500M → 8.5M shares of 10.00% Series A Perpetual Strife Preferred @ $85 ($722.5M gross, $711.2M net, 10% cumulative); proceeds for BTC",
      "claim_class": "transactional",
      "claim_subtype": "financing, BTC purchase",
      "target": "$711.2M net · settled 2025-03-25",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Settled 2025-03-25 per terms (strategy.com PR Mar 21 2025)",
      "resolution_authority": "Formal PR (strategy.com, Mar 21 2025)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "hit",
      "result_detail": "HIT",
      "result_v10": "hit",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-010",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 10,
      "date": "2025-05-01",
      "date_raw": "2025-05-01",
      "speaker": "Phong Le / Saylor / company",
      "venue": "Earnings call (Q1 2025) + press release",
      "venue_class": "earnings_call",
      "claim": "\"42/42 Plan\": raise $84B — $42B equity + $42B fixed income (debt, converts, preferreds) medium-to-long term incl. original plan; incl. new $21B MSTR ATM",
      "claim_class": "strategic",
      "claim_subtype": "financing, BTC purchase",
      "target": "$84B · through 2027 / medium-long term",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "$25.3B raised in FY2025; $17.1B YTD through Jul 26 2026 via ATMs (Q4 2025 + Q2 2026 PRs) — on pace, horizon not reached",
      "resolution_authority": "Formal PR (Q4 2025, Q2 2026)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "open",
      "result_detail": "OPEN",
      "result_v10": "open",
      "scored_in_trust": false,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-011",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 11,
      "date": "2025-05-01",
      "date_raw": "2025-05-01",
      "speaker": "Company",
      "venue": "Press release (Q1 2025 earnings)",
      "venue_class": "sec_filing",
      "claim": "Raise 2025 targets: BTC Yield 15%→25%; BTC $ Gain $10B→$15B (citing 13.7% / $5.8B YTD momentum)",
      "claim_class": "strategic",
      "claim_subtype": "KPI",
      "target": "25% · $15B · FY2025",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Actuals 22.8% / $8.9B — both missed as stated; targets raised again Jul 31 2025",
      "resolution_authority": "Formal PR (Q4 2025)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "miss",
      "result_detail": "MISS",
      "result_v10": "miss",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-012",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 12,
      "date": "2025-05-22",
      "date_raw": "2025-05-22",
      "speaker": "Company",
      "venue": "SEC filing (8-K)",
      "venue_class": "sec_filing",
      "claim": "Establish $2.1B STRF at-the-market program",
      "claim_class": "transactional",
      "claim_subtype": "financing",
      "target": "Up to $2.1B STRF sales",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "~$0 STRF sold in Q1 2026; program consolidated into omnibus ATM Nov 4 2025 (8-Ks)",
      "resolution_authority": "—",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "open",
      "result_detail": "OPEN",
      "result_v10": "open",
      "scored_in_trust": false,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-013",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 13,
      "date": "2025-06-05",
      "date_raw": "2025-06-05 (priced); ann. 2025-06-06",
      "speaker": "Company",
      "venue": "Press release (8-K Ex. 99.1)",
      "venue_class": "sec_filing",
      "claim": "STRD IPO: 11,764,700 shares of 10.00% Series A Perpetual Stride Preferred @ $85 ($1B gross, $979.7M net); dividends not mandatory; proceeds for BTC",
      "claim_class": "transactional",
      "claim_subtype": "financing, BTC purchase",
      "target": "$979.7M net · settled 2025-06-10",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Settled 2025-06-10 per terms (8-K 2025-06-06)",
      "resolution_authority": "SEC filing (8-K 2025-06-06)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "hit",
      "result_detail": "HIT",
      "result_v10": "hit",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-014",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 14,
      "date": "2025-07-07",
      "date_raw": "2025-07-07",
      "speaker": "Company",
      "venue": "SEC filing (8-K)",
      "venue_class": "sec_filing",
      "claim": "Establish $4.2B STRD at-the-market program",
      "claim_class": "transactional",
      "claim_subtype": "financing",
      "target": "Up to $4.2B STRD sales",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "$0 STRD sold in Q1 2026; consolidated into omnibus ATM Nov 4 2025 (8-Ks)",
      "resolution_authority": "—",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "open",
      "result_detail": "OPEN",
      "result_v10": "open",
      "scored_in_trust": false,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-015",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 15,
      "date": "2025-07-24",
      "date_raw": "2025-07-24 (priced); ann. 2025-07-25",
      "speaker": "Company",
      "venue": "Press release (8-K Ex. 99.1)",
      "venue_class": "sec_filing",
      "claim": "STRC IPO: upsized $500M → 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred @ $90 ($2.52B gross, ~$2.474B net); 9.00% initial monthly dividend; proceeds for BTC",
      "claim_class": "transactional",
      "claim_subtype": "financing, BTC purchase",
      "target": "$2.474B net · settled 2025-07-29",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Settled 2025-07-29 per terms (8-K 2025-07-25)",
      "resolution_authority": "SEC filing (8-K 2025-07-25)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "hit",
      "result_detail": "HIT",
      "result_v10": "hit",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-016",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 16,
      "date": "2025-07-31",
      "date_raw": "2025-07-31",
      "speaker": "Company (Phong Le, Andrew Kang)",
      "venue": "Press release (Q2 2025 earnings, 8-K Ex. 99.1)",
      "venue_class": "sec_filing",
      "claim": "Raise 2025 targets again: BTC Yield 25%→30%; BTC $ Gain $15B→$20B (citing 25% / $13.2B YTD)",
      "claim_class": "strategic",
      "claim_subtype": "KPI",
      "target": "30% · $20B · FY2025",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Actuals 22.8% / $8.9B — both missed as stated; targets cut Dec 1 2025",
      "resolution_authority": "Formal PR (Q4 2025)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "miss",
      "result_detail": "MISS",
      "result_v10": "miss",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-017",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 17,
      "date": "2025-07-31",
      "date_raw": "2025-07-31",
      "speaker": "Andrew Kang (CFO)",
      "venue": "Press release (Q2 2025 earnings)",
      "venue_class": "sec_filing",
      "claim": "FY2025 guidance: operating income ~$34B, net income ~$24B, diluted EPS ~$80, explicitly conditioned on BTC at $150,000 at year-end",
      "claim_class": "strategic",
      "claim_subtype": "operational",
      "target": "FY2025 · conditional on $150k BTC",
      "materiality": "medium",
      "actionability": "cautious",
      "resolution_evidence": "BTC closed 2025 at $87,515; company replaced guidance Dec 1 2025 with op. income $(7.0)B–$9.5B at $85–110k BTC (Dec 2025 company update)",
      "resolution_authority": "Formal PR + company update (Dec 2025)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "unscored",
      "result_detail": "CAUTIOUS — unscored (verdict changed: v1.0 scored MISS)",
      "result_v10": "miss",
      "scored_in_trust": false,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-018",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 18,
      "date": "2025-07-31",
      "date_raw": "2025-07-31",
      "speaker": "Company",
      "venue": "Press release (Q2 2025 earnings)",
      "venue_class": "sec_filing",
      "claim": "mNAV-based Common ATM discipline: <2.5x mNAV → no common issuance except to pay debt interest / preferred dividends; 2.5–4.0x → opportunistic; >4.0x → active (thresholds \"may update in sole discretion\")",
      "claim_class": "strategic",
      "claim_subtype": "capital allocation, dilution",
      "target": "Standing framework",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Reaffirmed Oct 30 2025; issuance mix pivoted to preferreds in H2 2025 (STRD $4.2B ATM; Nov 4 omnibus ATM w/ $4.2B STRC capacity); $4.4B common ATM sold Q4 2025 (Q4 2025 PR) — directionally honored, self-modifiable",
      "resolution_authority": "Formal PR (Q4 2025; reaffirmed Oct 30 2025) + SEC filing (ATM 8-Ks)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "partial",
      "result_detail": "PARTIAL",
      "result_v10": "partial",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-019",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 19,
      "date": "2025-07-31",
      "date_raw": "2025-07-31",
      "speaker": "Company",
      "venue": "Press release (Q2 2025 earnings)",
      "venue_class": "sec_filing",
      "claim": "STRC rules-based monthly dividend framework (\"current intention, subject to change\"): 5-day VWAP <$95 → +50bps; $95–98.99 → +25bps; $99–100.99 → no change; intended to keep STRC near $100 par",
      "claim_class": "strategic",
      "claim_subtype": "capital allocation",
      "target": "Monthly, standing",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Framework followed mechanically: 9.00% → 10.00% (Sep) → 10.25% (Oct) → 10.50% (Nov) → 10.75% (Dec) → 11.25% (Q4 2025 PR). But STRC fell to ~$90 in Nov 2025 panic and traded below par into 2026; company bought back $28.9M notional at 13% discount (Q2 2026 PR)",
      "resolution_authority": "Formal PR (Q4 2025, Q2 2026)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "partial",
      "result_detail": "PARTIAL",
      "result_v10": "partial",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-020",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 20,
      "date": "2025-12-01",
      "date_raw": "2025-12-01",
      "speaker": "Company",
      "venue": "8-K + investor presentation (company update)",
      "venue_class": "sec_filing",
      "claim": "Revised 2025 targets: BTC Yield 22–26%; BTC $ Gain $8.4–12.8B (on $85–110k YE BTC); established $1.44B USD Reserve",
      "claim_class": "strategic",
      "claim_subtype": "reserve leg executed",
      "target": "FY2025 · reserve = 12-mo dividend coverage",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Actuals: 22.8% BTC Yield, $8.9B BTC $ Gain — both inside revised ranges (Q4 2025 PR); USD Reserve grew to $2.25B (Feb 2026) → $3.75B (Jul 2026)",
      "resolution_authority": "Formal PR (Q4 2025; reserve path via Feb/Jul 2026 PRs)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "hit",
      "result_detail": "HIT",
      "result_v10": "hit",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-021",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 21,
      "date": "2025-12-01",
      "date_raw": "2025-12-01 (same update)",
      "speaker": "Company",
      "venue": "8-K + investor presentation",
      "venue_class": "sec_filing",
      "claim": "Perpetual preferred dividends declared and paid on time and in full (STRK 8% cumulative, STRF 10% cumulative, STRD 10% non-mandatory, STRC variable monthly)",
      "claim_class": "transactional",
      "claim_subtype": "dividend payments",
      "target": "Standing obligation",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "23 consecutive distributions, $693M paid by May 2026 (Q1 2026 PR); $1.06B cumulative by Jul 2026; $413M cumulative at 9.6% blended rate (Q4 2025 PR) — zero missed payments",
      "resolution_authority": "Formal PR (Q4 2025, Q1/Q2 2026)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "hit",
      "result_detail": "HIT",
      "result_v10": "hit",
      "scored_in_trust": true,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-022",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 22,
      "date": "2026-02-10",
      "date_raw": "2026-02-10",
      "speaker": "Michael Saylor",
      "venue": "Executive media interview (CNBC Squawk Box)",
      "venue_class": "executive_social",
      "claim": "\"We're not going to be selling. We're going to be buying bitcoin — I expect — every quarter, forever\"; would refinance debt before selling; can withstand BTC at $8k",
      "claim_class": "strategic",
      "claim_subtype": "BTC purchase",
      "target": "Open-ended (\"forever\")",
      "materiality": "high",
      "actionability": "promotional",
      "resolution_evidence": "Within 3 months: May 5 2026 call floated BTC sales; May 26–31 2026 sold 32 BTC (~$2.5M); Jun 29 2026 BTC monetization program authorized (press reports; Jun 29 PR)",
      "resolution_authority": "N/A — promotional; never resolved as HIT/MISS per v1.1",
      "resolution_authority_level": 1,
      "resolution_state": null,
      "result": "unscored",
      "result_detail": "PROMOTIONAL — unscored (verdict changed: v1.0 scored MISS); routed to contradiction flag",
      "result_v10": "miss",
      "scored_in_trust": false,
      "source_class": "secondary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-023",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 23,
      "date": null,
      "date_raw": "2025-02-??",
      "speaker": "Michael Saylor (@saylor)",
      "venue": "Executive social (X)",
      "venue_class": "executive_social",
      "claim": "\"Sell a kidney if you must, but keep the Bitcoin.\" (never-sell doctrine, social form)",
      "claim_class": "strategic",
      "claim_subtype": "BTC purchase",
      "target": "Open-ended",
      "materiality": "medium",
      "actionability": "promotional",
      "resolution_evidence": "Company sold BTC May–Jun 2026; BTC Monetization Program established (Q2 2026 PR: $218.4M sales YTD)",
      "resolution_authority": "N/A — promotional",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "unscored",
      "result_detail": "PROMOTIONAL — unscored (verdict changed: v1.0 scored MISS); routed to contradiction flag",
      "result_v10": "miss",
      "scored_in_trust": false,
      "source_class": "secondary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": [],
      "null_reason": {
        "date": "not_stated"
      }
    },
    {
      "id": "MSTR-024",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 24,
      "date": "2026-05-05",
      "date_raw": "2026-05-05",
      "speaker": "Michael Saylor + Phong Le (CEO)",
      "venue": "Earnings call (Q1 2026)",
      "venue_class": "earnings_call",
      "claim": "\"We'll probably sell some Bitcoin to fund a dividend just to inoculate the market\" (Saylor); \"We will sell Bitcoin when it's advantageous to the company\" (Le)",
      "claim_class": "strategic",
      "claim_subtype": "capital allocation, BTC sale",
      "target": "Conditional / opportunistic",
      "materiality": "high",
      "actionability": "cautious",
      "resolution_evidence": "Jun 29 2026: BTC monetization program authorized ($1.25B Board capacity); $218.4M BTC sales YTD by Jul 26 2026 (Jun 29 PR; Q2 2026 PR)",
      "resolution_authority": "Formal PR (Jun 29 2026; Q2 2026)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "unscored",
      "result_detail": "CAUTIOUS — unscored (verdict changed: v1.0 scored HIT)",
      "result_v10": "hit",
      "scored_in_trust": false,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-025",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 25,
      "date": "2026-06-29",
      "date_raw": "2026-06-29",
      "speaker": "Michael Saylor + company",
      "venue": "Press release (Digital Credit Capital Framework)",
      "venue_class": "formal_press_release",
      "claim": "Board-approved USD Reserve Policy: minimum 12 months of preferred dividends + interest coverage (breach needs Board sign-off); $1.25B Board-authorized BTC monetization capacity; STRC dividend policy; MSTR repurchase authorization",
      "claim_class": "strategic",
      "claim_subtype": "capital allocation",
      "target": "Standing policy",
      "materiality": "high",
      "actionability": "actionable",
      "resolution_evidence": "Reserve $3.75B / 2.1 yrs coverage as of Jul 30 2026 — compliant so far (Q2 2026 PR)",
      "resolution_authority": "Formal PR (Q2 2026)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "open",
      "result_detail": "OPEN",
      "result_v10": "open",
      "scored_in_trust": false,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    },
    {
      "id": "MSTR-026",
      "company": "Strategy Inc.",
      "ticker": "MSTR",
      "row": 26,
      "date": "2026-07-30",
      "date_raw": "2026-07-30",
      "speaker": "Company",
      "venue": "Press release (Q2 2026 earnings, 8-K Ex. 99.1)",
      "venue_class": "sec_filing",
      "claim": "STRC objective $99–100 over time; \"if STRC trades below $100, we intend to repurchase STRC shares in a regular and disciplined manner\"; $1.0B MSTR repurchase program (no repurchases to date; only below intrinsic value)",
      "claim_class": "transactional",
      "claim_subtype": "buyback",
      "target": "Standing",
      "materiality": "high",
      "actionability": "cautious",
      "resolution_evidence": "Repurchased $28.9M STRC notional for $25M (13% discount) — consistent so far; MSTR program unused (Q2 2026 PR)",
      "resolution_authority": "Formal PR (Q2 2026)",
      "resolution_authority_level": null,
      "resolution_state": null,
      "result": "open",
      "result_detail": "OPEN (CAUTIOUS, kept)",
      "result_v10": "open",
      "scored_in_trust": false,
      "source_class": "primary",
      "source_url": "https://www.sec.gov/edgar/browse/?CIK=1050446",
      "taxonomy_version": "1.1",
      "history": []
    }
  ]
}