$AMFN I read the whole thing so you don't have to. Here's what stood out to ME 🧵
1️⃣ One person holds the keys. Buried in the merger notes: a single special preferred share — the "control share" — was sold to an entity controlled by Brent Nelson for $1,000. That one share = voting control of the whole company. When you see him signing as Executive Chairman now, that's why.
2️⃣ Cash is TIGHT. $79,341 in the bank at June 30. They spend about $174K a month. That's roughly 2 weeks of runway. They survive by selling warrant tranches to their funding partner — basically paycheck to paycheck.
3️⃣ But the funding structure is CLEAN. Fixed price around $0.05. No death-spiral resets. No floating conversions. This is the good kind of financing structure — dilution you can measure, not a shredder.
4️⃣ First revenue ever: $58,000. Tiny, but real. This company is no longer "pre-revenue."
5️⃣ There's a skeleton in the closet: a $697K court judgment from the old shell company days, growing at 8.5% interest. That's about 9x their cash. They're fighting to cancel it. No press release ever mentioned this.
6️⃣ One contract in the filing prices future stock payments off a "restructuring event." Read between the lines: they may be planning a reverse split on the way to a bigger exchange.
The lesson: press releases tell you the story the company wants told. Filings tell you the story that's true. Always read both.
Not paid to post, never have been. Do your own DD.