Adapti, Inc.
1.6100+0.06 (+3.87%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCPK · ADTI · USD
Key Stats
Market Cap
12.94MP/E (TTM)
-Basic EPS (TTM)
-0.21Dividend Yield
0%Recent Filings
8-K
8-K
Adapti issues convertible note
Adapti, Inc. issued a $181,818 principal 17.5% OID senior convertible promissory note on September 15, 2025, for $150,000 cash from its executive chairman and an accredited investor. The note matures December 14, 2025, with prepayment allowed anytime, but accrues 20% interest quarterly post-maturity if unpaid. Holders can convert to common stock at the lesser of $3.08 or 70% of the closing price, capped at 4.99% ownership. This insider funding bolsters liquidity, yet subordination to senior debt heightens repayment risks.
10-Q
Q1 FY2026 results
Adapti swung and missed on revenue in Q1 FY2026 ended June 30, 2025, posting $664, down 30% y/y from $948 amid a pivot from health products to sports tech. Operating expenses climbed 3% y/y to $279K, driven by higher professional fees, yielding an operating loss of $278K—matching the net loss, as interest expense added just $17K. Cash drained to $90K after $111K operating outflow, offset by $200K in note proceeds, while liabilities swelled to $1.4M from convertibles and payables. Post-quarter, Adapti closed the July 2025 Ballengee Group buyout for 6.5M shares, $7.5M note, and up to $20M contingent earnout, eyeing athlete representation synergies with its adapt.io AI platform. Yet integration hiccups could stall the rebound.
8-K
Adapti acquires Ballengee sports agency
Adapti, Inc. closed its acquisition of Ballengee Group, LLC, a Texas-based sports agency, on July 14, 2025, issuing 6,500,000 common shares valued at $20 million, a $7.5 million promissory note maturing in 2030 at 5% interest, and up to $20 million in earnout shares over four years tied to Ballengee's EBITDA milestones starting at $2 million annually. The deal hands control to James Ballengee, who now holds about 68.6% of Adapti's shares, while Jeff Campbell steps in as executive chairman under a $20,000 monthly consulting deal. This merger aims to fuse athlete representation with AI-driven social media tools, yet integration risks loom large.
10-K
FY2025 results
Adapti, Inc. wrapped FY2025 ended March 31, 2025 with revenues of $4,894, down 64% year-over-year from $13,672, as marketing efforts tapered amid cash constraints, while Q4 saw negligible sales from the Dermacia line with no cost of revenues after prior inventory write-offs. Operating expenses narrowed to $908,520 from $1,513,060, driven by 44% lower professional fees, yielding a net loss of $960,145 versus $1,709,015 last year; yet, the company burned $250,130 in operating cash, offset by $250,000 in new notes. No dividends or buybacks occurred, and liquidity remains precarious with $572 in cash against $1.03 million in liabilities, including related-party debt. The pending Ballengee Group acquisition could inject over $10 million in annual revenue, but closing risks loom. Uncertainty over securing additional financing threatens quarterly momentum.
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