FFAI — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-14

• With headquarters in the greater Los Angeles, California area, we design and engineer next-generation intelligent, connected electric vehicles and are developing embodied AI robotics products and related commercialization initiatives. We manufacture vehicles at the FF aiFactory California production…

• Since our founding, we have developed technologies and products focused on intelligent electric vehicles and connected mobility systems. We believe these capabilities support our strategy to develop intelligent electric vehicles and related mobility technologies. Our long-term strategy is centered o…

• Our product roadmap builds on the FF 91 platform through the planned FF 92 upgrade program and the FX Super One and reflects an increased focus on reallocating resources, manufacturing capacity, and engineering efforts toward these programs and our robotics commercialization initiatives. We expect o…

• We have begun implementing an embodied AI robotics strategy intended to complement our intelligent mobility ecosystem. This initiative is focused on the development and commercialization of robotics products that may leverage our AI, sensor, software, and platform capabilities developed for intellig…

• AIXC’s common stock is listed on Nasdaq under the ticker symbol “AIXC.” Through AIXC, we are evaluating emerging technology initiatives, including AI, blockchain-based platform development, and related crypto service initiatives that may complement our broader ecosystem strategy.

Text removed vs the prior filing · source: 10-Q · 2025-11-21

• With headquarters in the greater Gardena, California area, we design and engineer next-generation intelligent, connected electric vehicles. We manufacture vehicles at the FF ieFactory California production facility in Hanford, California. We also have additional engineering, sales, and operational c…

• there through a joint venture or other arrangements. Additionally, we have established operations in the United Arab Emirates, including an entity to manage assembly and sales support for FF 91 series vehicles and a facility in Ras Al Khaimah intended to support future FX Super One production, furth…

• Since our founding, we have created major innovations in technology and products and followed a user-centered business model. We believe these innovations will enable us to set new standards in luxury and performance that will redefine the future of intelligent mobility.

• Our near-term product roadmap builds on the FF 91 platform through the planned FF 92 upgrade program and the FX Super One and reflects an increased focus on reallocating resources, manufacturing capacity, and engineering efforts toward these programs. The shift in strategy from relying primarily on …

• In September 2025, we consolidated AIXC, a newly acquired entity with operations in the life sciences sector. AIXC’s common stock is listed on Nasdaq under the ticker symbol “AIXC.” While AIXC is currently immaterial to our operating results, we intend to use it as a platform for future strategic in…

Text added vs the prior filing · source: 10-Q · 2026-05-14

• The Company’s management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined under Rule 13a-15(f) under the Exchange Act.

• The Company has made substantial progress in remediating the previously identified material weaknesses in internal control over financial reporting. During 2025 (“FY25”), management designed and implemented internal controls remediating eight of the nine material weaknesses listed below:

• •Ineffective control environment commensurate with the Company’s financial reporting requirements;

• •Ineffective controls addressing risks of material misstatement;

• •Ineffective communication and information-sharing controls among the legal, capital markets, accounting, and finance functions;

Text removed vs the prior filing · source: 10-Q · 2025-11-21

• The Company’s management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined under Rule 13a-15(f) under the Exchange Act. Under the supervision and with the participation of the Company’s management, including the Company’s Glob…

• •The Company did not design and maintain an effective control environment commensurate with its financial reporting requirements. Specifically, the Company lacked a sufficient number of professionals with an appropriate level of accounting knowledge, training and experience to appropriately analyze,…

• •The Company did not design and maintain effective controls in response to the risks of material misstatement. Specifically, changes to existing controls or the implementation of new controls were not sufficient to respond to changes to the risks of material misstatement to financial reporting, due …

• •The Company did not design and maintain effective controls for communicating and sharing information between the legal, capital markets, and accounting and finance departments. Specifically, the accounting and finance departments were not consistently provided the complete and adequate support, doc…

• •The Company did not design and maintain effective controls to address the identification of and accounting for certain non-routine, unusual or complex transactions, including the proper application of generally accepted accounting principles to such transactions. Specifically, the Company did not d…

Text added vs the prior filing · source: 10-Q · 2026-05-14

• During the three months ended March 31, 2026, no director or officer of the Company adopted or terminated any “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K. None.

Text removed vs the prior filing · source: 10-Q · 2025-11-21

• During 2025, the following executive officer adopted a Rule 10b5-1 trading arrangement (as defined in Exchange Act Rule 10b5-1(c)), and all planned purchases under the arrangement were completed during the three months ended September 30, 2025:

• •Mr. Yueting Jia, Global Co‑CEO, adopted a Rule 10b5‑1 trading plan on May 27, 2025, providing for the purchase of up to $560,000 of the Company’s Class A common stock. The planned purchase represents the after‑tax portion of a $1.2 million signing bonus awarded in April 2025 in connection with his …

• During 2025, the following executive officers adopted Rule 10b5-1 trading arrangements (as defined in Exchange Act Rule 10b5-1(c)). Each plan was terminated during the three months ended September 30, 2025 and is no longer in effect:

• •Mr. Jerry Wang, President, adopted a Rule 10b5‑1 trading plan on May 27, 2025, providing for the purchase of up to $50,000 of the Company’s Class A common stock. This trading plan expires on August 22, 2026. Before this plan was cancelled on September 15, 2025 by the broker, Mr. Wang purchased 10,6…

• •Mr. Koti Meka, Chief Financial Officer, adopted a Rule 10b5‑1 trading plan on June 12, 2025, providing for the purchase of up to $20,000 of the Company’s Class A common stock. This trading plan expires on September 15, 2026. Before this plan was cancelled on September 15, 2025 by the broker, Mr. Me…