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FIEE on Nasdaq

FiEE, Inc.

FiEE, Inc. is an American prepackaged software services company based in Tsuen Wan.1

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Last updated Oct 21, 2026.

Overview

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  • TickerFIEE on Nasdaq1
  • IndustryServices-Prepackaged Software1
  • HeadquartersDE1
  • Incorporated inDE2
  • Business address3-33, 2-Chome Utajima, Nishiyodogawa District, Osaka2
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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Building upon our history in networking and software, we are currently transforming our operations as a digital service provider focused on integrating artificial intelligence (“AI”) and data analytics into content creation, digital authentication, and brand management. Our current business model leverages a cloud-based SaaS platform designed to support clients in developing, managing, and optimizing their digital presence across global platforms, including customized graphic and posts, short videos, and editorial calendars aligned with brand goals. Additionally, we offer comprehensive software development and maintenance services, delivering custom software solutions from system design and development to deployment and post-launch maintenance. In July 2025, we formally launched customized software services. This transition represents a strategic pivot toward high-growth, emerging techno…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

86.4%Gross margin5
25.0%Operating margin5
17.3%Net margin5
867.9%Revenue growth, 20255
16.3%Return on equity5
$3.5MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue14¢$840.0K
  • Research and development1¢$47.4K
  • Other costs61¢$3.8M
  • Interest0¢$9.0K
  • Income tax7¢$448.2K
  • Profit17¢$1.1M

Out of $6.2M in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending5¢$186.1K
  • Kept or used elsewhere95¢$3.5M

Out of $3.6M of cash from operations.5

Financial statements

Revenue67895$6.2M in 2025−84% since 2019
0$20.0M$40.0M$60.0M2019: $37.6M$37.6M20192020: $48.0M$48.0M2020+28%2021: $55.4M$55.4M2021+15%2022: $50.6M$50.6M2022−9%2023: $26.1M$26.1M2023−48%2024: $639.9K$639.9K2024−98%2025: $6.2M$6.2M2025+868%
Gross profit67895$5.4M in 2025−51% since 2019
0$5.0M$10.0M$15.0M$20.0M2019: $10.9M$10.9M20192020: $13.6M$13.6M2020+25%2021: $18.9M$18.9M2021+39%2022: $11.9M$11.9M2022−37%2023: $470.9K$470.9K2023−96%2024: $207.3K$207.3K2024−56%2025: $5.4M$5.4M2025+2483%
Operating income67895$1.6M in 2025
-$20.0M-$15.0M-$10.0M-$5.0M0$5.0M2019: -$3.2M-$3.2M20192020: -$4.8M-$4.8M2020+50%2021: -$1.9M-$1.9M2021−60%2022: -$15.0M-$15.0M2022+680%2023: -$17.2M-$17.2M2023+14%2024: -$4.2M-$4.2M2024−75%2025: $1.6M$1.6M2025
Net income67895$1.1M in 2025
-$20.0M-$15.0M-$10.0M-$5.0M0$5.0M2019: -$3.3M-$3.3M20192020: -$3.9M-$3.9M2020+18%2021: -$2.2M-$2.2M2021−43%2022: -$15.5M-$15.5M2022+607%2023: -$17.6M-$17.6M2023+13%2024: -$4.2M-$4.2M2024−76%2025: $1.1M$1.1M2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Revenues$6.2M$639.9K
Cost of revenues$840.0K$432.6K
Gross profit$5.4M$207.3K
Selling and marketing$418.0K$66.2K
General and administrative$3.3M$2.1M
Research and development$47.4K$113.3K
Vendor liability forgiveness, net of asset transfers$2.2M
Total operating expenses$3.8M$4.4M
Operating income (loss)$1.6M-$4.2M
Interest income (expense), net-$9.0K$82
Foreign currency exchange loss-$14.3K
Other, net-$6.6K
Total other income (expense)-$29.9K$82
Income (loss) before income taxes$1.5M-$4.2M
Income tax expense (benefit)$448.2K-$11.2K
Net income (loss)$1.1M-$4.2M
Allocation to participating preferred stock-$391.1K
Net Income (loss) attributable to common stockholders$681.3K-$4.2M
Basic earnings (loss) per common share$0.12-$1.34
Diluted earnings (loss) per common share$0.10-$1.34
Basic5.6M shares3.2M shares
Diluted7.1M shares3.2M shares
Net income (loss)$1.1M-$4.2M
Foreign currency translation adjustment-$9.4K
Total comprehensive income (loss)$1.1M-$4.2M

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Corporate structure

FiEE, Inc. sits at the top of its group. 4 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of FiEE, Inc.

  • Elements Corporate Services Ltd Filed SCHEDULE 13D/A on FiEE, Inc., latest Sep 10, 2026 (3 filings since Feb 12, 2026)
  • Cao Yu Filed SCHEDULE 13D/A on FiEE, Inc., latest May 22, 2026 (8 filings since Feb 25, 2025)
  • David E. Lazar Filed SCHEDULE 13D/A on FiEE, Inc., latest Mar 10, 2025 (6 filings since Jan 30, 2024)
  • Jeremy P. Hitchcock Filed SCHEDULE 13D/A on FiEE, Inc., latest Jan 15, 2025 (11 filings since Nov 22, 2022)
  • FiEE, Inc. DE
    • FiEE, Inc., is a limited liability company incorporated under the laws of Subsidiary · Hong Kong
    • Inc., is a limited liability company organized in Subsidiary · Delaware, United States
    • of FiEE, Inc., is a limited liability company incorporated under the laws of Subsidiary · Japan

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What FiEE, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$413.1K5 Dec 31, 2025$2.6M5 Dec 31, 2024−84.2%
Accumulated depreciation$46.6K5 Dec 31, 2025$2.5M5 Dec 31, 2024−98.1%
Property and equipment, net$366.4K5 Dec 31, 2025$119.9K5 Dec 31, 2024+205.7%
Operating-lease assets (leased space)$31.0K5 Dec 31, 2025$22.5K9 Dec 31, 2023+37.7%

Real estate and locations

ItemLatestA year beforeChange
Area of land2,656 sq ft13 Dec 31, 20242,656 sq ft12 Dec 31, 20230%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$3.1M5 Dec 31, 2025$30.2K5 Dec 31, 2024+10126.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$3.8M5 Dec 31, 2025$86.7K13 Dec 31, 2023+4294.7%
Accumulated amortization-$281.8K5 Dec 31, 2025-$53.5K13 Dec 31, 2023−426.8%
Finite-lived intangibles, net$3.5M5 Dec 31, 2025$33.2K13 Dec 31, 2023+10517.0%

Properties, in its own words

The Company’s principal executive offices are located at Flat A1, 29/F, Block A, TML Tower, 3 Hoi Shing Road, Tsuen Wan, Hong Kong, and are leased from a third party pursuant to a lease agreement. We believe that these facilities are adequate for our current operations and that we will be able to obtain additional or alternative facilities on commercially reasonable terms if and when necessary.

Item 2 of the 10-K filed Mar 20, 2026.4

Leadership

Who has led FiEE, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Frank Blase Manning2009–2020
  2. Graham James Chynoweth2020–2022
  3. Mehul A. Patel2022
  4. Li Wai Chung2025–now

President

  1. Frank Blase Manning2009–2019
  2. Joseph Wytanis2018–2020
  3. Nicole Elisabeth Zheng2021–2022

Chief financial officer

  1. Robert A. Crist2009–2010
  2. Philip Frank2015–2016
  3. Frank Blase Manning2020
  4. Hamilton Jacquelyn Barry2020
  5. Sean Patrick Doherty2020–2021
  6. Mehul A. Patel2022
  7. Dustin Tacker2022–2023
  8. Cao Yu2025–now

Chief operating officer

  1. Joseph Wytanis2020
  2. John Lauten2021–2022
2010201520202025
Board members and other officers (32)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerWai Chung Li named Apr 14, 202657
  • Executive Officer, DirectorYu Cao named Apr 14, 202657
  • DirectorBin Hu named Apr 14, 202657

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • FiEE, Inc., is a limited liability company incorporated under the laws of Hong Kong.3
  • Inc., is a limited liability company organized in Delaware.3
  • of FiEE, Inc., is a limited liability company incorporated under the laws of Japan.3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • MINIM, INC.Jun 10, 2021 to Feb 25, 20252
  • Zoom Telephonics, Inc.Jul 10, 2009 to Jun 4, 20212

Timeline

  1. Oct 2, 20268-K Executive or director change58
  2. Sep 11, 20268-K Executive or director change59
  3. Aug 14, 20268-K Results of operations; Executive or director change; Bylaws or fiscal year changed60
  4. Jun 23, 20268-K Entered a material agreement61
  5. May 13, 20268-K Executive or director change62
  6. Apr 30, 20268-K Results of operations63
  7. Mar 27, 20268-K Entered a material agreement; Regulation FD disclosure64
  8. Mar 20, 20268-K Results of operations65
  9. Feb 2, 20268-K Entered a material agreement; Results of operations; Unregistered sale of shares66
  10. Jan 28, 20268-K Financial statements and exhibits67
  11. Jan 15, 20268-K Executive or director change68
  12. Dec 2, 20258-K Entered a material agreement; Completed an acquisition or sale; Regulation FD disclosure69
  13. Feb 28, 2025New chief executive Li Wai Chung becomes CEO14
  14. Aug 17, 2022New chief executive Mehul A. Patel becomes CEO15
  15. Dec 14, 2020New chief executive Graham James Chynoweth becomes CEO16
  16. Dec 14, 2009New chief executive Frank Blase Manning becomes CEO17

Calendar

Coming up

  1. Around Nov 28, 2026Next results, estimated About a quarter after its last report. The company hasn't announced the date.

When it reported results

  1. Aug 14, 2026Reported quarterly or annual results60
  2. Apr 30, 2026Reported quarterly or annual results63
  3. Mar 20, 2026Reported quarterly or annual results65
  4. Feb 2, 2026Reported quarterly or annual results66
  5. Nov 12, 2025Reported quarterly or annual results70
  6. Aug 13, 2025Reported quarterly or annual results71
  7. Mar 29, 2023Reported quarterly or annual results72
  8. Nov 10, 2022Reported quarterly or annual results73

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

314 filings to the SEC since October 2021: 11 annual reports, 22 quarterly reports, 105 major events, 89 insider forms, 28 large holders, 1 private raises, 58 other. The latest 20:

  1. Oct 14, 2026ARS EDGAR
  2. Oct 13, 2026DEF 14A EDGAR
  3. Oct 5, 20263 EDGAR
  4. Oct 2, 20268-K EDGAR
  5. Oct 2, 2026PRE 14A EDGAR
  6. Sep 11, 20268-K EDGAR
  7. Sep 10, 2026SCHEDULE 13D/A EDGAR
  8. Aug 14, 202610-Q EDGAR
  9. Aug 14, 20268-K EDGAR
  10. Jun 23, 20268-K EDGAR
  11. Jun 23, 2026424B5 EDGAR
  12. Jun 11, 2026EFFECT EDGAR
  13. Jun 10, 2026EFFECT EDGAR
  14. Jun 9, 2026CORRESP EDGAR
  15. Jun 8, 2026CORRESP EDGAR
  16. Jun 3, 2026UPLOAD EDGAR
  17. May 29, 2026S-3 EDGAR
  18. May 22, 2026CORRESP EDGAR
  19. May 22, 2026S-3/A EDGAR
  20. May 22, 2026SCHEDULE 13D/A EDGAR

The 314 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

12 open-market trades by officers, directors and large owners since October 2021: 10 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Feb 10, 2026Wong Man Ching10% ownerBuy2,138,181$1.29$2.8MForm 4
May 9, 2025Yu CaoChief Financial OfficerBuy1,585,366$1.64$2.6MForm 4
May 9, 2025Bin HuDirectorBuy853,659$1.64$1.4MForm 4
Dec 26, 2024HITCHCOCK JEREMY P.Sale1,447,259$0.03$43.4KForm 4
Dec 26, 2024HITCHCOCK ELIZABETH CASH10% ownerSale1,447,259$0.03$43.4KForm 4
Dec 26, 2024Lazar David E.DirectorBuy1,456,980$0.03$43.7KForm 4
Dec 6, 2023HITCHCOCK ELIZABETH CASH10% ownerBuy743,343$1.51$1.1MForm 4
Dec 6, 2023HITCHCOCK JEREMY P.Buy743,343$1.51$1.1MForm 4
Dec 3, 2021Chynoweth Graham JamesChief Executive OfficerBuy10,000$1.38$13.8KForm 4
Dec 1, 2021Horowitz JoshuaDirectorBuy1,531$1.30$2.0KForm 4
Nov 30, 2021Horowitz JoshuaDirectorBuy17,818$1.27$22.6KForm 4
Nov 29, 2021Horowitz JoshuaDirectorBuy500$1.38$690Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • Elements Corporate Services LtdSCHEDULE 13D/A, 3 filings Feb 12, 2026 to Sep 10, 202674
  • Cao YuSCHEDULE 13D/A, 8 filings Feb 25, 2025 to May 22, 202675
  • David E. LazarSCHEDULE 13D/A, 6 filings Jan 30, 2024 to Mar 10, 202576
  • Jeremy P. HitchcockSCHEDULE 13D/A, 11 filings Nov 22, 2022 to Jan 15, 202577

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Li Wai ChungChief Executive Officer and President48$206.5K78
2025Cao YuChief Financial Officer35$82.2K78
2024David LazarFormer Chief Executive Officer and Chief Financial Officer$402.2K78

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$2.0M 2026–2026
Money received by yearMoney received by year, 2026–2026: $2.0M in all. Private raises (Form D) $2.0M.$0$500K$1M$1.5M$2M2026 · Private raises (Form D): $2.0M2026
Figures by year
YearPrivate raises (Form D)Total
2026$2.0M$2.0M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Mar 31, 2026Raised $2 million in a private offering of equity57 Form D: 2 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
UBS Group AG633$2.7K0.0%+404
Barrett & Company, Inc.24$1030.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How FiEE, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFiEE, Inc.1
  • CIK0001467761
  • Employer ID (EIN)04-26215064
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)7372 Services-Prepackaged Software1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address3-33, 2-Chome Utajima, Nishiyodogawa District, Osaka, Japan1
  • Phone81 6 7509 37001
  • Shares outstanding8,528,598 as of Aug 12, 202611
  • Public float$6.0M as of Jun 30, 20254
  • AuditorUHY LLP, Irvine, California PCAOB ID 1195; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJul 10, 20091
  • Filings957 in all: 4 (291), 8-K (217), 10-Q (51), 3 (50), SC 13D/A (31), CORRESP (21), SC 13G/A (21), 4/A (20)1
    All 53 form types

    DEF 14A (19), UPLOAD (18), 10-K (17), SC 13G (16), EFFECT (15), 8-K/A (14), DEFA14A (14), SCHEDULE 13D/A (12), 10-Q/A (10), S-1 (10), S-1/A (10), SD (10), 10-K/A (9), PRE 14A (8), NT 10-Q (7), D (6), S-8 (6), SC 13D (5), 424B3 (4), NT 10-K (4), 3/A (3), 425 (3), 5 (3), ARS (3), CT ORDER (3), POS AM (3), 10-12G/A (2), 8-A12B (2), S-3 (2), SCHEDULE 13D (2), 10-12G (1), 25-NSE (1), 25-NSE/A (1), 424B4 (1), 424B5 (1), 8-A12G (1), CERT (1), DEF 14C (1), DEFR14A (1), DRS (1), PRE 14C (1), RW (1), S-3/A (1), S-8 POS (1), SC 14F1 (1)

  • Latest filingsAnnual report (10-K) Mar 20, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Oct 13, 2026
    Latest 8-K (8-K) Oct 2, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.01 par valueFIEENasdaq

From the cover page of the 10-K filed Mar 20, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks FiEE, Inc. names in Item 1A of its 10-K filed Mar 20, 2026: 30 risks under these headings, as written.4

  • Risks Related to Our Company
  • Since completing our business transformation in 2025, our new business has generated revenue and achieved profitability, but still faces risks of sustained growth and market competition.
  • Our limited operating history in our new lines of business makes it difficult to evaluate our prospects and increases the risk of investment.
  • We may fail to execute our business plan successfully.
  • The Company may suffer from a lack of availability of additional funds.
  • Our acquisition strategy creates risks for our business.
  • Our reliance on AI and data analytics exposes us to unique operational and ethical risks.
  • Cybersecurity incidents or data breaches could disrupt our operations and harm our reputation.
  • We may be unable to scale our operations successfully.
  • Our success depends on the continued efforts of our senior management and key technical personnel
  • We are subject to stringent and evolving laws and regulations regarding data privacy and cybersecurity.
  • We may suffer from a lack of liquidity.
The other 19 risks
  • The requirements of remaining a public company may strain our resources and distract our management, which could make it difficult to manage our business.
  • We are required to comply with certain provisions of Section 404 of the Sarbanes-Oxley Act of 2002, as amended (the “Sarbanes-Oxley Act”) and if we fail to continue to comply, our business could be harmed, and the price of our securities could decline.
  • We have identified a material weakness in our internal control over financial reporting, which resulted in our disclosure controls and procedures being ineffective as of December 31, 2025. If we fail to fully remediate this material weakness, our financial reporting could be adversely affected and investor confidence could decline.
  • Our disclosure controls and procedures were not effective as of December 31, 2025, and if we are unable to maintain effective disclosure controls and procedures in the future, investors may lose confidence in our reported financial information.
  • Changes in U.S. laws and regulations related to companies with connections to Hong Kong or the PRC could limit our ability to maintain our Nasdaq listing or access U.S. capital markets.
  • Economic instability, inflation, global conflicts, or public health crises could adversely affect our business.
  • Our financial condition, results of operations and cash flow may be adversely affected by changing economic conditions, including interest rates and inflation, and other factors beyond our control.
  • Our operations could be adversely impacted by civil unrest, acts of war or terrorism, other criminal activities, infectious disease outbreaks or other unexpected events, including natural disasters, outside our control.
  • Risks Related to Our Common Stock
  • We have previously failed to comply with Nasdaq’s continued listing requirements, and as a result, our Common Stock was suspended from trading on Nasdaq. Although we have resolved these issues and resumed trading, we may face delisting risks in the future, which has had and will continue to have a material effect on us and our stockholders.
  • A large portion of our Common Stock is controlled by a small number of stockholders.
  • The sale of the additional shares of Common Stock could cause dilution as well as the value of our Common Stock to decline.
  • Our Common Stock price may decrease due to factors beyond our control.
  • Our Common Stock is subject to the application of the “penny stock” rules which could adversely affect the market price of our Common Stock and increase transaction costs to sell those shares.
  • The market price for our Common Stock is particularly volatile which could lead to wide fluctuations in our share price. You may be unable to sell your Common Stock at or above your purchase price, or at all, which may result in substantial losses to you.
  • Because we will likely issue additional shares of our Common Stock, investment in the Company could be subject to substantial dilution.
  • The Financial Industry Regulatory Authority (“FINRA”) sales practice requirements may also limit a stockholder’s ability to buy and sell our stock.
  • We do not intend to pay dividends for the foreseeable future.
  • If we are unable to comply with the financial reporting requirements mandated by the SEC’s regulations, investors may lose confidence in our financial reporting and the price of our Common Stock, if a market ever does develop for it, could decline.
  • We are a “smaller reporting company” and the reduced reporting requirements applicable to smaller reporting companies may make our Common Stock less attractive to investors.

Legal proceedings

In the course of our business, we are involved in litigation and legal matters from time to time. Such matters are subject to many uncertainties and outcomes are not predictable with assurance. We accrue liabilities for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. We do not believe that any such matters, individually or in the aggregate, will have a material adverse effect on our business, financial condition, results of operations, or cash flows.

The opening of Item 3, Legal Proceedings.4

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