FABC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-14

• Cost of goods sold was $0 for the three months ended June 30, 2026, as compared to $239,040 for the same period in 2025, a decrease of $239,040, or 100%. The decrease was primarily due to impairment charges related to inventory used in the manufacturing of the Vanish.

• The increase was primarily due to stock-based compensation expense of $673,666 related to stock options and RSUs granted and vested during the three months ended June 30, 2026, to members of the board and employees, and $655,268 in warrant expense related to consulting services, compared to the same…

• For the three months ended June 30, 2026, the Company recorded a $3,201,749 decrease of other expense, net. The decrease for the three months ended June 30, 2026 and 2025, is primarily due to: (i) the Company recognizing a loss of $0 and $13,254,700, respectively, for the change in fair value – warr…

• Six months ended June 30, 2026, compared to six months ended June 30, 2025

• The following table sets forth our results of operations for each of the periods set forth below:

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• Unrealized loss from remeasurement on digital assets (613,663) — (613,663)

• The decrease was primarily due to salaries and related consulting expenses decreasing by $520,720 for the three months ended March 31, 2026, compared to the same period in 2025, due to the decreased headcount and shift in business direction from manufacturing. This decrease was mitigated by an incre…

• For the three months ended March 31, 2026, the Company recorded a $3,531,983 decrease of net other income. For the three months ended March 31, 2026 and 2025, the Company recognized a gain of $0 and $1,080,600, respectively, for the change in fair value – warrant liability, a decrease of $1,080,600,…

• Subsequent to March 31, 2026, the Company completed several financing transactions that provided additional liquidity to fund the Company’s operations and semiconductor development activities. On April 29, 2026, the Company closed a private placement of Series K Convertible Preferred Stock and warra…

• The Company has incurred recurring losses from operations and has insufficient liquidity to fund its future operations. As of March 31, 2026, we had $3,263,540 in cash and cash equivalents, $110,562 in restricted cash, $3,416,475 in marketable securities, and working capital of $6,475,365. As of Dec…

Text added vs the prior filing · source: 10-Q · 2026-08-14

• On August 14, 2026, the Company entered into a consulting agreement with Michael Murray (the “Murray Consulting Agreement”), pursuant to which Mr. Murray will serve as Chairman of the Joint Steering Committee (the “JSC”) established by the JDA. Mr. Murray is the Chief Executive Officer of Kopin Corp…

• Pursuant to the Murray Consulting Agreement and to incentivize Mr. Murray for his service as Chairman of the JSC, Mr. Murray will be granted stock options to purchase up to 1,716,564 shares of the Company’s Common Stock (the “Murray Options”), subject to the terms and conditions of the Company’s sta…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• The pro forma adjustments reflected herein are limited to transaction accounting adjustments directly attributable to the cash proceeds received from the Series K Private Placement financing, after deducting related offering expenses (the “Transaction Accounting Adjustments”), as well as the issuanc…

• After giving effect to the Series K Private Placement financing and related Transaction Accounting Adjustments, the Company’s pro forma cash and cash equivalents would have increased by approximately $19.5 million, and stockholders’ equity would have increased by approximately $15.8 million as of Ma…

• The unaudited pro forma condensed consolidated financial information should be read in conjunction with the Company’s unaudited condensed consolidated financial statements and related notes included elsewhere in this Quarterly Report on Form 10-Q, including Note 14. Subsequent Events.

• The following pro forma financial information gives effect to the Series K Private Placement as if it had occurred on March 31, 2026.

• Accrued expenses and other current liabilities 535,559 — 535,559