Overview
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- TickerNMAD on Nasdaq2
- IndustryPharmaceutical Preparations2
- HeadquartersPasadena, United States2
- Incorporated inDE3
- Business address433 Plaza Real, Suite 275, Boca Raton, Fl 334323
- Filer categoryNon-accelerated filer, Smaller reporting company3
- Legal formCorporation2
- LEI5493004HPIB1PBNQ3L692
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressc/o BUSINESS FILINGS INCORPORATED, 108 WEST 13TH ST, 19801 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 39749592
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3 patients had stable disease for 2 cycles, 3 patients had stable disease for 4 cycles, and 3 patients had stable disease for 6 cycles.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.10
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| General and administrative costs (includes $1,388,322 and $418,422 of stock-based compensation, respectively) | $4.9M | $2.8M |
| Research and development costs | $254.9K | $726.2K |
| Total costs and expenses | $5.1M | $3.6M |
| Loss from operations | -$5.1M | -$3.6M |
| Interest Income | $7.4K | $7.0K |
| Interest Expense | -$9.2K | -$16.8K |
| Realized loss on digital assets | -$904.4K | |
| Foreign currency gain (loss) | $525 | -$3.4K |
| Other income | $3.7K | |
| Net loss | -$6.0M | -$3.6M |
| Series B Convertible Preferred Stock 8% cumulative dividend | -$69.1K | |
| Net loss attributable to common stockholders | -$6.1M | -$3.6M |
| Earnings Per Share, Diluted | -$1.26 | -$1.59 |
| Weighted Average Number of Shares Outstanding, Diluted | 4.8M shares | 2.2M shares |
| Share based compensation | $1.4M | $418.4K |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.10
| Period ending | 2025-12-31 | 2025-11-30 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash | $5.1M | $1.0M | ||
| Prepaid insurance | $26.7K | $20.9K | ||
| Other prepaid expenses | $44.8K | $85.7K | ||
| Total current assets | $5.2M | $1.1M | ||
| LiGHT proton therapy system equipment | $6.6M | |||
| Right-of-use lease assets | $972.7K | $1.0M | ||
| Total assets | $12.7M | $1.1M | ||
| Research and development contract liabilities | $232.1K | $235.1K | ||
| Operating lease obligations, current | $595.4K | |||
| Series B Convertible Preferred Stock 8% cumulative dividend payable | $69.1K | |||
| Total current liabilities | $1.3M | $318.3K | ||
| Operating lease obligations, long-term | $439.0K | |||
| Total liabilities | $1.8M | $318.3K | ||
| Common stock, $0.0001 par value authorized 100,000,000 shares; issued and outstanding 8,790,102 and 2,249,290 shares at December 31, 2025 and 2024, respectively | $879 | $225 | ||
| Additional paid-in capital | $66.0M | $49.4M | ||
| Accumulated deficit | -$58.1M | -$52.1M | ||
| Total Lixte Biotechnology stockholders equity | $9.7M | $827.2K | ||
| Non-controlling interest | $1.3M | |||
| Total stockholders equity | $11.0M | $827.2K | $4.0M | |
| Total liabilities and stockholders equity | $12.7M | $1.1M | ||
| Related parties accounts payable and accrued expenses | $436.5K | $83.2K | ||
| Preferred stock, par value | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 10.0M shares | 10.0M shares | ||
| Common stock, par value | $0.00 | $0.00 | ||
| Common stock, shares authorized | 100.0M shares | 100.0M shares | ||
| Common stock, shares issued | 8.8M shares | 2.2M shares | ||
| Common stock, shares outstanding | 8.8M shares | 2.2M shares |
| Period ending | 2025-12-31 | 2025-11-30 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash | $5.1M | $1.0M | ||
| Prepaid insurance | $26.7K | $20.9K | ||
| Other prepaid expenses | $44.8K | $85.7K | ||
| Total current assets | $5.2M | $1.1M | ||
| LiGHT proton therapy system equipment | $6.6M | |||
| Right-of-use lease assets | $972.7K | $1.0M | ||
| Total assets | $12.7M | $1.1M | ||
| Research and development contract liabilities | $232.1K | $235.1K | ||
| Operating lease obligations, current | $595.4K | |||
| Series B Convertible Preferred Stock 8% cumulative dividend payable | $69.1K | |||
| Total current liabilities | $1.3M | $318.3K | ||
| Operating lease obligations, long-term | $439.0K | |||
| Total liabilities | $1.8M | $318.3K | ||
| Common stock, $0.0001 par value authorized 100,000,000 shares; issued and outstanding 8,790,102 and 2,249,290 shares at December 31, 2025 and 2024, respectively | $879 | $225 | ||
| Additional paid-in capital | $66.0M | $49.4M | ||
| Accumulated deficit | -$58.1M | -$52.1M | ||
| Total Lixte Biotechnology stockholders equity | $9.7M | $827.2K | ||
| Non-controlling interest | $1.3M | |||
| Total stockholders equity | $11.0M | $827.2K | $4.0M | |
| Total liabilities and stockholders equity | $12.7M | $1.1M | ||
| Related parties accounts payable and accrued expenses | $436.5K | $83.2K | ||
| Preferred stock, par value | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 10.0M shares | 10.0M shares | ||
| Common stock, par value | $0.00 | $0.00 | ||
| Common stock, shares authorized | 100.0M shares | 100.0M shares | ||
| Common stock, shares issued | 8.8M shares | 2.2M shares | ||
| Common stock, shares outstanding | 8.8M shares | 2.2M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.10
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$6.0M | -$3.6M |
| Non-cash lease expense for right-of-use asset | $61.7K | |
| Stock-based compensation expense | $1.4M | $418.4K |
| Common stock issued for services | $171.6K | |
| Realized loss on digital assets | $904.4K | |
| Advances on research and development contract services | $78.0K | |
| Prepaid insurance | -$5.8K | -$3.8K |
| Other prepaid expenses | $40.8K | -$75.7K |
| Accounts payable and accrued expenses | $380.8K | -$73.6K |
| Research and development contract liabilities | -$2.9K | $78.0K |
| Net cash used in operating activities | -$3.1M | -$3.2M |
| Purchase of digital assets | -$2.6M | |
| Cash paid for Liora investment | -$440.0K | |
| Capitalized transaction costs | -$95.1K | |
| Net cash used in investing activities | -$3.2M | |
| Proceeds from sale of securities in registered direct offerings, net of offering costs | $6.1M | |
| Proceeds from sale of securities in registered private placement, net of offering costs | $4.2M | |
| Exercise of common stock warrants | $45.8K | |
| Net cash provided by financing activities | $10.3M | |
| NET CHANGE IN CASH | $4.1M | -$3.2M |
| Cash paid for interest | $9.2K | $16.8K |
| Options issued to settle accrued Board fees | $27.5K | |
| Exercise of placement agent warrants on a cashless basis | $22 | |
| Exercise of pre-funded warrants | $306 | |
| Conversion of Series A Convertible Preferred Stock into common stock | $3.5M | |
| Conversion of Series B Convertible Preferred Stock into common stock | $821.8K | |
| Accrual of Series B Convertible Preferred Stock 8% cumulative dividend | $69.1K | |
| Dividend payable settled in shares | $20.1K | |
| Digital assets transferred as consideration for acquisition of Liora (non-cash investing) FV at transfer | $1.7M | |
| Common stock issued for acquisition of Liora | $3.0M | |
| Right-of use asset and lease liability - operating lease (UKRI Daresbury) | $1.0M | |
| Non-controlling interest | $1.3M | |
| Accrual of deferred offering costs | $6.9K |
No quarter-by-quarter statement was filed.
Corporate structure
NOMAD POWER SOLUTIONS, INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of NOMAD POWER SOLUTIONS, INC.
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on NOMAD POWER SOLUTIONS, INC., latest Jul 31, 2026
- Strategic EP, LLC Filed SCHEDULE 13G on NOMAD POWER SOLUTIONS, INC., latest Jun 9, 2026
- INTRACOASTAL CAPITAL, LLC Filed SCHEDULE 13G on NOMAD POWER SOLUTIONS, INC., latest Feb 18, 2025
- Orca Capital AG Filed SCHEDULE 13G/A on NOMAD POWER SOLUTIONS, INC., latest Feb 18, 2025 (2 filings since Feb 13, 2025)
- Eric Forman Filed SC 13G/A on NOMAD POWER SOLUTIONS, INC., latest Apr 7, 2022
- Glenn Krinsky Filed SC 13G on NOMAD POWER SOLUTIONS, INC., latest Apr 7, 2022
- SABBY MANAGEMENT, LLC Filed SC 13G/A on NOMAD POWER SOLUTIONS, INC., latest Jan 4, 2022
- NOMAD POWER SOLUTIONS, INC. Pasadena, California, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What NOMAD POWER SOLUTIONS, 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
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, net | $6.6M10 Dec 31, 2025 | ||
| Operating-lease assets (leased space) | $972.7K10 Dec 31, 2025 |
Properties, in its own words
We do not own any real property.
As a part of the asset acquisition that we completed on November 21,2025 with Liora Technologies Europe Ltd, we assumed a lease with United Kingdom Research and Innovation (“UKRI”) for Part of the Tower at Daresbury Laboratory, Daresbury Cheshire within ground and first floor as part of the Department for Science, Innovation and Technology whose principal office is at Polaris House, North Star Avenue, Swindon SN2 1FL.
The rest of Item 2
We believe that our facilities are generally in good condition and suitable to operate our business.
Item 2 of the 10-K filed Mar 31, 2026.4
Leadership
Who has led NOMAD POWER SOLUTIONS, INC., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerGeordan Garrett Pursglove Jun 18, 2025 to now13
- Chief executive officerDer Baan Bastiaan Jeroen Van Sep 27, 2023 to Oct 16, 202314
- Chief executive officerJohn S. Kovach Dec 2, 2020 to Nov 9, 202215
- ChairGeordan Garrett Pursglove Jun 18, 2025 to now13
- PresidentDer Baan Bastiaan Jeroen Van Sep 27, 2023 to Oct 16, 202314
- PresidentJohn S. Kovach Mar 19, 2015 to Nov 9, 202216
- Chief financial officerPeter Stazzone Sep 4, 2025 to now17
- Chief financial officerRobert N. Weingarten Aug 20, 2020 to Nov 9, 202218
- Chief financial officerJohn S. Kovach Jul 21, 2006 to Jul 21, 200619
- Chief operating officerEric Forman Nov 9, 2022 to Dec 13, 202220
Board members and other officers (18)
- Chief Medical OfficerJohannes Henricus Matthias Schellens Aug 1, 2024 to Aug 1, 202421
- Vice chairDer Baan Bastiaan Jeroen Van Oct 16, 2023 to Oct 16, 202322
- Chief Medical OfficerJames Miser Nov 21, 2022 to Nov 21, 202223
- SecretaryEric Forman Jan 4, 2021 to Apr 6, 202224
- Board memberStuart D. Porter Jun 1, 2026 to now25
- Board memberJohn Francis Travaglini Jul 2, 2026 to now26
- Board memberJason David Sawyer Jul 21, 2025 to now27
- Board memberMichael Andrew Holloway Jul 21, 2025 to now28
- Board memberLourdes Felix Sep 4, 2025 to now29
- Board memberGuy Warren Primus Sep 10, 2025 to now30
- Board memberDer Baan Bastiaan Jeroen Van Jul 18, 2022 to Oct 16, 202331
- Board memberRene Bernards Jul 28, 2022 to now32
- Board memberSze Chun Winson Ho Aug 14, 2018 to Jan 14, 202133
- Board memberYun Yen Aug 14, 2018 to now34
- Board memberStephen J. Forman Jun 7, 2016 to now35
- Board memberRobert B. Royds May 10, 2011 to May 10, 201136
- Board memberMel Sorensen Oct 8, 2008 to Oct 8, 200837
- Board memberJohn S. Kovach Jul 21, 2006 to Nov 9, 202219
Named in SEC Form D filings
People the company listed in its private-offering notices.
Former names
Timeline
- Oct 6, 20268-K Regulation FD disclosure39
- Sep 30, 20268-K Entered a material agreement; Unregistered sale of shares40
- Sep 17, 20268-K Financial statements and exhibits41
- Jul 31, 20268-K Regulation FD disclosure42
- Jul 10, 20268-K Regulation FD disclosure43
- Jul 2, 20268-K Entered a material agreement; Completed an acquisition or sale; Unregistered sale of shares44
- Jun 18, 20268-K Entered a material agreement; Regulation FD disclosure45
- Jun 16, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure46
- Jun 4, 20268-K Entered a material agreement; Other events47
- Jun 1, 20268-K Executive or director change; Regulation FD disclosure48
- Apr 17, 20268-K Executive or director change49
- Mar 20, 20268-K Executive or director change50
- Jun 18, 2025New chief executive Geordan Garrett Pursglove becomes CEO13
- Sep 27, 2023New chief executive Der Baan Bastiaan Jeroen Van becomes CEO14
- Dec 2, 2020New chief executive John S. Kovach becomes CEO15
- May 24, 2005Founded NOMAD POWER SOLUTIONS, INC. is founded2
Calendar
Coming up
- Nov 11, 2026Reports results for the quarter ending Sep/202651
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
260 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 90 major events, 81 insider forms, 8 large holders, 1 private raises, 60 other. The latest 20:
- Oct 6, 20268-K EDGAR
- Sep 30, 20268-K EDGAR
- Sep 17, 20268-K/A EDGAR
- Aug 14, 202610-Q EDGAR
- Jul 31, 2026SCHEDULE 13G EDGAR
- Jul 31, 20268-K EDGAR
- Jul 27, 2026DEF 14A EDGAR
- Jul 17, 2026PRE 14A EDGAR
- Jul 10, 20268-K EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20268-K EDGAR
- Jul 2, 20263 EDGAR
- Jun 18, 20268-K EDGAR
- Jun 16, 20268-K EDGAR
- Jun 9, 2026SCHEDULE 13G EDGAR
The 260 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
16 open-market trades by officers, directors and large owners since October 2021: 16 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 3, 2023 | Bernards ReneDirector | Buy | 5,527 | $2.51 | $13.9K | Form 4 |
| Oct 3, 2023 | van der Baan Bastiaan JeroenPresident, CEO & Vice Chairman | Buy | 10,000 | $2.80 | $28.0K | Form 4 |
| Oct 3, 2023 | Bernards ReneDirector | Buy | 5,527 | $2.51 | $13.9K | Form 4 |
| Oct 2, 2023 | Bernards ReneDirector | Buy | 4,473 | $2.29 | $10.2K | Form 4 |
| Oct 2, 2023 | Bernards ReneDirector | Buy | 4,473 | $2.29 | $10.2K | Form 4 |
| Dec 30, 2022 | van der Baan Bastiaan JeroenPresident, CEO & Vice Chairman | Buy | 10,000 | $0.49 | $4.9K | Form 4 |
| Dec 30, 2022 | van der Baan Bastiaan JeroenPresident, CEO & Vice Chairman | Buy | 10,000 | $4.90 | $49.0K | Form 4 |
| Dec 15, 2022 | Bernards ReneDirector | Buy | 15,000 | $0.51 | $7.7K | Form 4 |
| Dec 12, 2022 | Bernards ReneDirector | Buy | 10,000 | $0.61 | $6.1K | Form 4 |
| Dec 9, 2022 | FORMAN ERICVice President and COO | Buy | 16,112 | $0.61 | $9.9K | Form 4 |
| Nov 22, 2022 | FORMAN ERICVice President and COO | Buy | 2,484 | $0.56 | $1.4K | Form 4 |
| Nov 21, 2022 | FORMAN ERICVice President and COO | Buy | 1,457 | $0.56 | $816 | Form 4 |
| Nov 21, 2022 | Brown ReginaDirector | Buy | 5,000 | $0.58 | $2.9K | Form 4 |
| Nov 18, 2022 | FORMAN ERICVice President and COO | Buy | 16,207 | $0.56 | $9.2K | Form 4 |
| Nov 17, 2022 | FORMAN ERICVice President and COO | Buy | 4,852 | $0.54 | $2.6K | Form 4 |
| Nov 14, 2022 | Bernards ReneDirector | Buy | 52,500 | $0.53 | $27.8K | Form 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.
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Jul 31, 202652
- Strategic EP, LLCSCHEDULE 13G, 1 filing Jun 9, 202653
- INTRACOASTAL CAPITAL, LLCSCHEDULE 13G, 1 filing Feb 18, 202554
- Orca Capital AGSCHEDULE 13G/A, 2 filings Feb 13, 2025 to Feb 18, 202555
- Eric FormanSC 13G/A, 1 filing Apr 7, 202256
- Glenn KrinskySC 13G, 1 filing Apr 7, 202257
- SABBY MANAGEMENT, LLCSC 13G/A, 1 filing Jan 4, 202258
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.
- Private raises (Form D) $3.5M
Figures by year
| Year | Private raises (Form D) | Total |
|---|---|---|
| 2023 | $3.5M | $3.5M |
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.
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.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Legacy Wealth Managment, LLC/ID | 600,669 | $4.5M | 1.8% | New |
| Vanguard Capital Management LLC | 555,476 | $4.1M | 0.0% | +505,997 |
| Scotia Capital Inc. | 283,162 | $2.1M | 0.0% | No change |
| Geode Capital Management, LLC | 143,036 | $1.1M | 0.0% | +84,184 |
| BlackRock, Inc. | 75,958 | $563.6K | 0.0% | New |
| State Street Corp | 75,096 | $557.2K | 0.0% | +57,700 |
| Vanguard Fiduciary Trust Co | 67,280 | $499.2K | 0.0% | +32,246 |
| Federation des caisses Desjardins du Quebec | 38,130 | $282.9K | 0.0% | −26,357 |
| Northern Trust Corp | 27,655 | $205.2K | 0.0% | New |
| Axxcess Wealth Management, LLC | 13,771 | $102.2K | 0.0% | New |
| Atlas Legacy Advisors, LLC | 13,771 | $102.2K | 0.0% | No change |
| Ethos Financial Group, LLC | 24,808 | $99.7K | 0.0% | No change |
| Equitable Holdings, Inc. | 10,000 | $74.2K | 0.0% | New |
| UBS Group AG | 6,400 | $47.5K | 0.0% | New |
| Integrated Wealth Concepts LLC | 246 | $1.8K | 0.0% | New |
| SBI Securities Co., Ltd. | 190 | $1.4K | 0.0% | No change |
| Caitong International Asset Management Co., Ltd | 7 | $52 | 0.0% | New |
| Wells Fargo & Company/mn | 5 | $37 | 0.0% | New |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How NOMAD POWER SOLUTIONS, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARNOMAD POWER SOLUTIONS, INC.1
- CIK0001335105
- Employer ID (EIN)20-29035264
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company4
- Incorporated inDelaware4
- Fiscal year endsDecember 311
- Industry code (SIC)2834 Pharmaceutical Preparations1
- SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
- Business address433 Plaza Real, Suite 275, Boca Raton, FL 334321
- Phone310 203 29021
- Shares outstanding16,101,068 as of Aug 10, 202612
- Public float$2.0M as of Jun 30, 20254
- AuditorWeinberg & Company, P.A, Los Angeles, California PCAOB ID 572; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceAug 3, 20051
- Filings527 in all: 8-K (143), 4 (101), 10-Q (56), 3 (33), 10-K (18), CORRESP (18), UPLOAD (18), SC 13G/A (13)1
All 49 form types
424B5 (12), S-1/A (8), SC 13G (8), 10QSB (7), DEF 14A (7), EFFECT (7), PRE 14A (7), DEFA14A (5), SB-2/A (5), SC 13D (5), S-1 (4), SCHEDULE 13G (4), 10KSB (3), 10KSB/A (3), D (3), REGDEX/A (3), S-3 (3), 4/A (2), 424B4 (2), 8-K/A (2), CT ORDER (2), DEF 14C (2), NT 10-Q (2), PRE 14C (2), REGDEX (2), S-8 (2), 10SB12G (1), 10SB12G/A (1), 25-NSE/A (1), 424B3 (1), 5 (1), 8-A12B (1), CERT (1), D/A (1), DRS (1), RW (1), S-3/A (1), SB-2 (1), SC 13D/A (1), SC 14F1 (1), SCHEDULE 13G/A (1)
- Latest filingsAnnual report (10-K) Mar 31, 2026
Quarterly report (10-Q) Aug 14, 2026
Proxy statement (DEF 14A) Jul 27, 2026
Latest 8-K (8-K) Oct 6, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.0001 per share | LIXT | NASDAQ |
From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks NOMAD POWER SOLUTIONS, INC. names in Item 1A of its 10-K filed Mar 31, 2026: 9 risks under these headings, as written.4
- There is substantial doubt about our ability to continue as a going concern.
- Our efforts to integrate acquired businesses may not be successful, and this may adversely affect our financial results.
- Acquiring or implementing new business lines or offering new products and services may subject us to additional risks.
- We compete in highly competitive markets, and we may lose market share to companies with greater resources or more effective technologies or be forced to reduce our prices.
- Our business may suffer if we are not able to hire and retain qualified personnel.
- The financial results of our Liora LiGHT system business may be unpredictable and if our proton therapy customers are unsuccessful, our financial results will be adversely affected.
- Our Liora LiGHT system business may subject us to increased liability.
- Our performance depends on successful improvements to our existing products and services, commercialization of new products and services and increasingly on our ability to anticipate emerging trends in oncology diagnosis, treatment and management.
- Mr. Pursglove’s simultaneous service as our Chief Executive Officer and member of our Board of Directors, and as Chief Executive Officer and member of the Board of Directors of Powell Max Ltd., may create conflicts of interest and may adversely affect management attention, financial reporting and decision-making.
Legal proceedings
On November 19, 2025, the Company received a written demand from FX Group Inc. and certain related parties (“FX”), asserting that FX was entitled to consulting fees in connection with capital offerings completed by the Company during June and July 2025. The Company denied the allegations, and negotiations continued after year-end. On January 22, 2026, the Company entered into a settlement agreement, under which the Company agreed to pay a one-time settlement amount of $100,000 to FX in exchange for mutual releases of all claims. As of December 31, 2025, management recorded an accrual of $100,000 for the settlement expense.
The Company may be subject to legal claims and actions from time to time as part of its business activities. As of December 31, 2025 and 2024, the Company was not subject to any other threatened or pending lawsuits, legal claims or legal proceedings.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARJohn S. Kovach, President
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- 18
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- 20SEC EDGAREric Forman, Chief operating officer
- 21
- 22
- 23SEC EDGARJames Miser, Chief Medical Officer
- 24SEC EDGAREric Forman, Secretary
- 25SEC EDGARStuart D. Porter, Board member
- 26
- 27SEC EDGARJason David Sawyer, Board member
- 28
- 29SEC EDGARLourdes Felix, Board member
- 30SEC EDGARGuy Warren Primus, Board member
- 31
- 32SEC EDGARRene Bernards, Board member
- 33SEC EDGARSze Chun Winson Ho, Board member
- 34SEC EDGARYun Yen, Board member
- 35SEC EDGARStephen J. Forman, Board member
- 36SEC EDGARRobert B. Royds, Board member
- 37SEC EDGARMel Sorensen, Board member
- 38
- 39SEC EDGARRegulation FD disclosure
- 40
- 41SEC EDGARFinancial statements and exhibits
- 42SEC EDGARRegulation FD disclosure
- 43SEC EDGARRegulation FD disclosure
- 44
- 45
- 46
- 47
- 48
- 49SEC EDGARExecutive or director change
- 50SEC EDGARExecutive or director change
- 51NasdaqNasdaq calendar
- 52
- 53
- 54
- 55
- 56
- 57
- 58