FFAI — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-13

• With headquarters in the greater Los Angeles, California area, we design and engineer next-generation intelligent, connected electric vehicles and develop and commercialize multi-form Embodied Artificial Intelligence (“EAI”) robotics products and related platform and ecosystem initiatives. We manufa…

• We have advanced our EAI robotics strategy from initial commercialization into a broader multi-form Physical AI platform. Our robotics strategy also focuses on four areas: the EAI Brain; EAI Devices; Industry Productivity Solutions and the Developer Platform; and the EAI Data Factory, During the six…

• AIXC’s common stock is listed on Nasdaq under the ticker symbol “AIXC.” Through AIXC which we consolidate as a variable interest entity under ASC 810, we are pursuing real-world asset (“RWA”) tokenization, digital asset, and EAI infrastructure initiatives, including blockchain-enabled infrastructure…

• •Third Pole Strategy: We have begun implementing a "third pole" strategy with an operational facility in the U.A.E., complementing our U.S. and China market approach. During the three months ended June 30, 2026, FX Super One sales activity and related assembly and delivery preparation in the U.A.E. …

• 2.AIXC Platform Strategy – Focused on developing programmable systems at the intersection of RWA tokenization and EAI, including infrastructure for the on-chain administration of traditional and real-world assets and the economic coordination of AI-enabled physical systems. AIXC is evaluating the pa…

Text removed 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…

• 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.

• •Third Pole Strategy: We have begun implementing a "third pole" strategy with an operational facility in the U.A.E., complementing our U.S. and China market approach.

• 2.AIXC Platform Strategy – Focused on evaluating emerging technology initiatives through AIXC, including AI, blockchain-based platform development, and related crypto service initiatives that may complement our broader EAI ecosystem. These initiatives remain in the early stages and are intended to s…

Text added vs the prior filing · source: 10-Q · 2026-08-13

• A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim consolidated financial statements would not be prevented or detected on a time…

• •Non-routine, unusual, or complex transactions: The Company did not design and maintain effective controls to identify, evaluate, and appropriately account for certain non-routine, unusual, or complex transactions, including the proper application of generally accepted accounting principles (“GAAP”)…

• •Accounting policies, procedures, and financial reporting: The Company did not design and maintain formal accounting policies, procedures, and controls necessary to ensure the completeness, accuracy, and timeliness of its financial accounting, reporting, and disclosures.

• •Related-party transactions: The Company did not design and maintain effective controls to identify, evaluate, and appropriately account for and disclose certain arrangements and transactions with related parties.

• The Company remains committed to addressing the material weaknesses in its internal control over financial reporting and strengthening its overall control environment. Management has initiated and continues to implement remediation efforts, including the following:

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

• As of December 31, 2024 (“FY24”), the Company identified nine material weaknesses in its internal control over financial reporting. A material weakness is a deficiency, or combination of deficiencies, such that there is a reasonable possibility that a material misstatement of the Company’s annual or…

• 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 added vs the prior filing · source: 10-Q · 2026-08-13

• Our robotics business is subject to significant risks relating to market development, customer demand, supply planning and servicing, and the market for our robotics products and services may not develop as anticipated.

• The robotics industry is at an early stage of development, and the commercial adoption of robotics technologies for workplace, consumer and household applications is still evolving. There is limited historical market data available to assess long-term demand, customer acceptance, pricing trends, tec…

• Our success depends on attracting and retaining customers and maintaining demand for our robotics products and the related software, AI systems and services that we provide or may provide in the future. We offer consumers the ability to pre-order certain robotics products in the United States. We ha…

• Our growth also depends on the development of practical, cost-effective and compelling robotics applications that provide measurable value to businesses and consumers. Many existing and potential robotics use cases remain unproven, are still being tested or may not achieve widespread commercializati…

• Our limited operating history in robotics also makes it difficult to forecast demand and determine the appropriate level of product and component inventory. If we overestimate demand, we or our suppliers may hold excess inventory and incur additional costs. If we underestimate demand, we or our supp…