AZIO — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-18

• For the six months ended June 30, 2026 and 2025, we generated sales revenue of $4,911,508 and $1,637,595 respectively, and our net loss for the six months ended June 30, 2026 and 2025 was $10,624,339 and $19,183,118, respectively. Included in our net loss for the six months ended June 30, 2026 is a …

• As disclosed in Note 1 - Organization and Operations to the consolidated financial statements included in this Quarterly Report, on July 2, 2026, the Company acquired Legacy Azio pursuant to the Amended and Restated Agreement and Plan of Merger, dated July 2, 2026 (the “Merger Agreement” and the tra…

• At the closing of the Azio Acquisition, the Company issued to former Legacy Azio stockholders (i) 2,460,351 shares of the Company's common stock, representing no more than 19.9% of the Company's outstanding common stock immediately prior to the closing, net of 194,807 shares issuable upon conversion…

• The Azio Acquisition will allow the Company to enhance its AI infrastructure business segment to offer the following services:

• On April 29, 2026, we received a notice (the “Notice”) from the Listing Qualifications Department of Nasdaq (the “Department”) notifying us that, because our stockholders’ equity was below $2,500,000 as reported on the 2025 Annual Report, we no longer meet the minimum shareholders’ equity requiremen…

Text removed vs the prior filing · source: 10-Q · 2026-05-19

• On April 29, 2026, we received a notice (the “Notice”) from the Listing Qualifications Department of Nasdaq notifying us that, because our stockholders’ equity was below $2,500,000 as reported on the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, we no longer meet the min…

• Our unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. We sustained significant losses and negative cash flows from operati…

• As more fully described above under "Debenture Financing," we closed the initial tranche of Debentures in the First Closing on March 6, 2026, resulting in net proceeds of approximately $3.8 million. We also closed the second tranche of Debentures in the second closing on May 7, 2026, resulting in ne…

• We believe that the growth and future success of our business depend on various opportunities, challenges and other factors, including the following:

• Availability of government subsidies, rebates and economic incentives. We believe that the availability of government subsidies, rebates, and economic incentives is currently a critical factor considered by our customers when purchasing our zero-emission systems or converting their existing vehicles…

Text added vs the prior filing · source: 10-Q · 2026-08-18

• We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information otherwise required under this Item.

Text removed vs the prior filing · source: 10-Q · 2026-05-19

• We are exposed to market risks in the ordinary course of our business. We do not currently face material market risks such as interest rate fluctuation risk. Our cash and cash equivalents include cash in readily available checking and money market accounts. These investments are not dependent on int…

• We may face risks associated with the costs of raw materials, primarily batteries, as we go into production. To the extent these and other risks materialize, they could have a material effect on our operating results or financial condition. We currently anticipate that our international selling, mar…

Text added vs the prior filing · source: 10-Q · 2026-08-18

• We have a limited operating history in our AI data center, GPU compute, and digital power business, and our strategy in this area is unproven at scale.

• Following the Azio Acquisition, our business now encompasses the development, ownership, and operation of artificial intelligence data centers, enterprise GPU compute infrastructure, digital power solutions, and digital asset mining operations, serving enterprise, institutional, government, and tech…

• Our business strategy is evolving, and changes to that strategy, or our failure to execute it successfully, could adversely affect our results of operations and the market price of our common stock.

• Our business strategy for our AI infrastructure, GPU compute, digital power, and digital asset mining operations continues to evolve as market conditions, customer demand, technology, and capital availability change. We may adjust our strategy, including the mix of AI hosting, GPU resale and distrib…

• Our business depends on our ability to develop and operate large-scale, power-intensive AI data center campuses, and any delay, cost overrun, or failure in that development could materially harm our business.