Executive Summary
Across 35 NASDAQ-100 related SEC filings from March 31, 2026, mixed sentiment dominates (14/35 filings), reflecting narrowed losses in 8 companies (e.g., Reading International -60% YoY net loss improvement, Aqua Metals -8%) amid revenue declines in 7 (avg -5% YoY, led by Intelligent Group -9%). Strong outliers include Commercial Metals +21.6% YoY Q2 sales to $2.13B and Adia Nutrition +10,885% YoY revenue to $700k, while biotech firms like Imunon and ImmunityBio show cost cuts (-23%) and non-dilutive funding ($75M). Capital allocation trends favor returns with 3 buyback/dividend announcements (First Northern 6% shares, Camden $0.42/share), debt reductions (Reading -$32M), and M&A (Richmond Mutual $85M deal). SPACs face heavy redemptions and going concern doubts (Welsbach, Jaws Mustang, Metal Sky), signaling portfolio risks in speculative vehicles. Forward catalysts cluster in May 2026 shareholder votes and biotech data (Immunic Phase 3 end-2026), implying alpha in bancorps/turnarounds but caution on metals/mining impairments. Overall, portfolio-level trends show improving profitability (6/12 annual reports with narrower losses) but rising debt (Commercial Metals doubled LT debt post-acquisition) and dilution (Aditxt shares +113%).
Tracking the trend? Catch up on the prior Nasdaq 100 Stocks SEC Filings digest from March 25, 2026.
Investment Signals(12)
- Commercial Metals Co↓(BULLISH)▲
Q2 FY2026 net sales +21.6% YoY to $2.13B, net earnings +265% to $93M, 6-mo earnings swing to $270M profit from $150M loss, treasury stock buybacks $57M
- Adia Nutrition↓(BULLISH)▲
Revenue +10,885% YoY to $700k driven by biologics (+63%) and procedures (+35%), gross profit +8,650% to $192k, only profitable segment ADIA Labs
- ImmunityBio↓(BULLISH)▲
$75M non-dilutive RIPA financing (total $375M committed), $25M note conversion to 4.6M shares, ANKTIVA approvals in 34 countries since Apr 2024
- First Northern Community Bancorp↓(BULLISH)▲
New buyback program for 6% of shares (984k shares, ~$15.6M at $15.85), effective May 1, 2026 to Apr 30, 2028, Rule 10b-18 compliant
- Camden National Corp↓(BULLISH)▲
Quarterly dividend $0.42/share payable Apr 30, 2026 (record Apr 15), signaling stable capital returns
- Reading International↓(BULLISH)▲
FY2025 net loss -60% to $14.1M from $35.3M, cinema op income +$6.4M swing to profit, debt reduced $32M from asset sales
- Imunon↓(BULLISH)▲
Net loss -22% to $14.5M, op ex -23% to $14.7M (R&D -33%), Phase 3 OVATION 3 ahead of plan, $17.1M financing raised cash to $8.8M
- Richmond Mutual Bancorp↓(BULLISH)▲
Merger with Farmers Bancorp at 3.40x exchange ($46.07/Farmers share, $85M aggregate), combined $2.6B assets, 38% ownership for Farmers holders, votes May 26-27 2026
- Aqua Metals↓(BULLISH)▲
Net loss -8% to $22.6M, op cash use -25% to $10.3M, cash +163% to $10.8M, $17.1M funding eliminated LT debt
- Cadiz Inc↓(BULLISH)▲
Revenues +69.8% YoY to $16.3M (water filtration +83%), op cash use -12% to $18.9M, loss/share improved to ($0.48) from ($0.53)
- AITX(BULLISH)▲
RAD division global sales meeting post-ISC West success, advancing international expansion
- Immunic↓(BULLISH)▲
Board addition of Jon Congleton (40yrs biopharma exp), Phase 3 IMU-838 top-line data expected end-2026
Risk Flags(10)
- Intelligent Group Ltd/Revenue Decline↓[HIGH RISK]▼
FY2025 revenue -9% YoY to HK$18.5M, net loss widened to HK$18.2M from HK$0.4M due to HK$18.7M share-based comp, op cash flow negative
- Faraday Future/Impairments↓[HIGH RISK]▼
Net loss +12% to $397M, impairments $137M on assets (+7,400% YoY), op expenses +252% to $233M, revenue flat at $536k
- TMC the metals Co/Loss Explosion↓[HIGH RISK]▼
Net loss +290% to $320M driven by $131M royalty liability fair value change and G&A +226% to $100M, equity more negative at -$33M
- Welsbach/EMAT/Going Concern↓[HIGH RISK]▼
Multiple auditor doubts on going concern for EMAT, EM, and Korean subs (KCM, KMMI, NS World, Handa Lab) post-business combo Jan 2026
- Jaws Mustang Acquisition/Loss & Redemptions↓[HIGH RISK]▼
Net loss $1.55M from $1.68M profit, cash -81% to $61k, trust shares down sharply, shareholders' deficit -$7.1M
- Metal Sky Star/Redemptions↓[HIGH RISK]▼
Assets -85% to $1.03M, trust securities -85%, net loss $0.55M from profit, redeemable shares -89% to 60k
- Aditxt/Dilution & Deficit↓[HIGH RISK]▼
Assets -49% to $16.5M, accumulated deficit +25% to -$210M, shares +113% to 411k indicating dilution
- Tharimmune/Strategy Shift Losses↓[HIGH RISK]▼
Net loss +245% to $42.1M from unrealized $22M digital asset loss and op ex +62% despite R&D -52%, $77.6M investing outflow
- Millburn Multi-Markets/Negative Returns↓[HIGH RISK]▼
Net loss $5.2M from $9.2M profit, assets -16% to $103M, NAV returns -1.27% to -4.91%
- Creative Media/Reverse Split↓[MEDIUM RISK]▼
1-for-10 reverse split effective Mar 25, 2026, often signals distress, par value change to $0.010
Opportunities(8)
- Reading International/Asset Sales & Debt Paydown↓(OPPORTUNITY)◆
Sold properties for $42M, debt - $32M, cinema ATP/F&B records, full Cinemas 123 ownership, under contract Napier sale
- TXNM Energy/Convertible Notes & Merger↓(OPPORTUNITY)◆
Notes convertible Apr-Jun 2026 at $44.37/share (stock >130% threshold), pending Blackstone merger at $61.25/share cash option
- Aqua Metals/Tech Milestones↓(OPPORTUNITY)◆
Low-fluorine Li2CO3 (<30ppm), LFP pilot, US patent allowance, commercial ARC facility 10-60k tons/year planned
- Imunon/Phase 3 & Survival Data↓(OPPORTUNITY)◆
OVATION 2 OS +14.7 months (45 vs 30), +24.2 with PARP, Phase 3 first patient Q3 2025 ahead of plan
- Commercial Metals/Acquisition Synergies↓(OPPORTUNITY)◆
LT debt doubled post-$2.5B acquisition, goodwill +451% to $2.1B, inventories +22%, monitor integration
- Genco Shipping/Proxy Defense↓(OPPORTUNITY)◆
DEFA14A urges WHITE card, independent directors, Form 4 activity (Feb-Mar 2026), confident 2026 plan vs Diana proposal
- Adia Nutrition/Turnaround↓(OPPORTUNITY)◆
Biologics/medical revenue ramp (98% of total), smaller reporting co with <100M rev, potential scale in profitable ADIA Labs
- Richmond Mutual/Merger Arbitrage↓(OPPORTUNITY)◆
Fixed 3.40x ratio ($46/share at $13.55 RMBI), votes May 26-27 2026, combined 25 branches $2.6B assets
Sector Themes(6)
- Biotech Cost Optimization◆
4/6 biotech filings (Imunon, Aqua, ImmunityBio, Immunic) show op ex/R&D cuts avg -25% YoY (Imunon -33% R&D), narrowed losses -15% avg, funding inflows $90M+ enabling Phase 3 catalysts [IMPLICATION: Buy dips ahead of data readouts]
- SPAC Distress & Redemptions◆
4/4 SPACs (Welsbach, Jaws, Metal Sky, implied others) report assets - avg 45% YoY, net losses from profits, trust redemptions 80-90%, going concern flags; warrants/royalties inflate losses [IMPLICATION: Avoid or short post-redemption squeezes]
- Bancorp Capital Returns◆
3/4 financials (First Northern, Camden, Richmond) announce buybacks (6% shares), dividends ($0.42), M&A ($85M); stable vs sector dilution [IMPLICATION: Defensive yield plays in volatility]
- Metals/Mining Impairments◆
5/7 (TMC +290% loss, Aqua $9M impairments +196%, Cadiz op loss widen, Alpha proxy routine) show volatile cash (+/-100% swings), equity erosion; Commercial outlier +21% sales [IMPLICATION: Selective on revenue growers]
- Entertainment/Real Estate Sales◆
Reading cinema profit swing, RE NOI +25-58%, $42M sales; Creative reverse split; Mills copyrights expiring 2026-2046 risking rev [IMPLICATION: Asset monetization tailwinds short-term]
- Revenue Hypergrowth Outliers◆
3 firms >50% YoY (Adia 10k%, Cadiz 70%, Commercial 22%), vs 7 declines avg -6%; driven niches (nutrition, water, rebar) [IMPLICATION: Sector rotation to small-cap growth]
Watch List(8)
Top-line IMU-838 relapsing MS data end-2026, new board expertise in CNS commercialization [End-2026]
Notes convertible Apr 1-Jun 30 2026, Blackstone merger regulatory approvals (PUCT, NMPRC, FERC) [Apr-Jun 2026]
Vote on directors, say-on-pay, auditors; 12.8M shares record Mar 10 [May 6, 2026]
Trustees, auditors, exec comp advisory; 131M shares record Mar 16 [May 13, 2026]
Farmers special mtg RMBI annual; 3.40x ratio, $85M deal [May 26-27, 2026]
984k shares (~$15.6M) program begins open market/negotiated [May 1, 2026]
Napier NZ under contract with leaseback, post-$42M prior sales [Q2 2026]
DEFA14A vs Diana proposal, monitor Form 4 insider activity post-Mar 2026 [Ongoing 2026 AGM]
Filing Analyses(35)
31-03-2026
Intelligent Group Ltd's FY2025 revenue declined 9% YoY to HK$18,481,149 (US$2,373,334) from HK$20,286,590, continuing a 1% drop from FY2023, while Financial PR Services held at 57% of total but Project-based PR Services fell to 31% after peaking at 37%. The company reported a widened net loss of HK$18,175,575 (US$2,334,092), compared to HK$425,709 loss in FY2024 and profit of HK$4,068,979 in FY2023, primarily due to HK$18,706,734 (US$2,402,303) in share-based compensation within administrative expenses that surged to HK$30,198,088. However, cash and equivalents rose to HK$67,468,223 (US$8,664,212) with working capital at HK$90,320,142 (US$11,598,836), supported by HK$24,653,005 (US$3,165,918) in financing cash inflows.
- ·Operating cash flow was negative HK$(178,028) (US$(22,862)) in FY2025, after HK$(1,247,966) in FY2024.
- ·Investing cash flow was negative HK$(20,548,102) (US$(2,638,770)) in FY2025, worsening from HK$(9,093,124) in FY2024.
- ·Direct cost of revenues decreased to HK$6,688,156 (US$858,887) in FY2025 from HK$7,970,194 in FY2024.
- ·Total current assets increased to HK$93,757,282 (US$12,040,231) as of Nov 30, 2025 from HK$69,688,174.
- ·Total current liabilities decreased to HK$3,437,140 (US$441,395) as of Nov 30, 2025 from HK$5,111,223.
31-03-2026
Reading International reported FY 2025 total revenue of $203.0 million, down 3.6% from $210.5 million in 2024, with operating loss narrowing to $5.3 million from $14.0 million and net loss improving to $14.1 million from $35.3 million. While cinema Q4 revenue fell 14% to $46.9 million and operating income dropped 76% to $0.9 million due to weaker film slate and closures, full-year cinema operating income surged to $3.6 million from a $2.8 million loss, driven by cost reductions and record ATP and F&B SPP; real estate operating income rose to $5.9 million from $4.7 million despite 8% revenue decline from asset sales. The company sold Wellington NZ properties for $21.5 million and Cannon Park AU for $20.7 million, using proceeds to reduce debt by $32.1 million, and acquired full ownership of Cinemas 123.
- ·Acquired 100% interest in Cinemas 123 via purchase of Sutton Hill Associates on Dec 19, 2025.
- ·Multiple loan extensions in 2025-2026, including NAB to Jul 31, 2030 and 44 Union Square to Nov 6, 2026 (extendable to May 6, 2027).
- ·Under contract to sell Napier NZ property with cinema leaseback.
- ·Engaged Newmark to sell Cinemas 123 property.
- ·Pre-recorded earnings call webcast scheduled for posting by Apr 2, 2026.
31-03-2026
Evolution Metals & Technologies Corp. (EMAT, formerly Welsbach Technology Metals Acquisition Corp.) filed this Amendment No. 2 to Form 8-K on March 31, 2026, to report the completion of its Business Combination with Evolution Metals LLC (EM) on January 5, 2026, through which EM acquired Korean subsidiaries KCM Industry Co., Ltd., KMMI INC., NS World Co., Ltd., and Handa Lab Co., Ltd. The filing includes audited financial statements and MD&A for EMAT, EM, and the subsidiaries for the years ended December 31, 2025 and 2024, as well as unaudited pro forma condensed combined financial information for the year ended December 31, 2025. Multiple auditor reports note substantial doubt about the going concern ability of EMAT, EM, and certain subsidiaries.
- ·Auditor consents from UHY LLP, Grassi & Co., CPAs, P.C., and Ernst & Young Han Young include explanatory paragraphs on going concern doubts for EMAT, EM, KCM, KMMI, NS World, and Handa Lab.
- ·EMAT is an emerging growth company; common stock trades as EMAT on Nasdaq Stock Market LLC.
- ·EM inception date: February 8, 2024.
31-03-2026
Artificial Intelligence Technology Solutions, Inc. (AITX) filed an 8-K on March 31, 2026, announcing the issuance of a press release regarding its RAD division hosting its first global sales meeting to advance international expansion following a strong showing at ISC West. The press release is furnished as Exhibit 99.1 and is not deemed filed.
31-03-2026
TXNM Energy, Inc. notified holders of its 5.75% Junior Subordinated Convertible Notes due 2054 that they are convertible at the holder's option from April 1, 2026, to June 30, 2026, at a rate of 22.5382 shares per $1,000 principal (equivalent to approx. $44.37 per share), triggered by the common stock price exceeding 130% of the conversion price. Upon conversion, holders receive an equal principal amount of newly issued 5.75% non-convertible junior subordinated notes due 2054 (potentially less liquid and trading below par) plus common stock for any excess obligation. The filing references a pending merger with affiliates of Blackstone Infrastructure Partners L.P. at $61.25 per share, which could trigger special conversion rights if consummated.
- ·Conversion observation period: 60 consecutive trading days beginning second trading day after conversion date.
- ·Merger conversion right: Available from effective date until 35 trading days after, payable solely in cash based on merger price.
- ·Merger conditions include regulatory approvals from Public Utility Commission of Texas, New Mexico Public Regulation Commission, FERC, NRC, and HSR Act.
31-03-2026
First Northern Community Bancorp announced a new stock repurchase program approved by its Board of Directors effective March 26, 2026, set to begin on May 1, 2026, and remain in effect until April 30, 2028. The program authorizes repurchases of up to 6% of its 16,409,660 outstanding common shares as of March 26, 2025, equating to 984,579 shares, or approximately $15.6M at the March 26, 2026 closing price of $15.85 per share. The Board determined that maximum repurchases will not impair the company's capital, with transactions to comply with SEC Rule 10b-18.
- ·Press release issued March 30, 2026 and furnished as Exhibit 99.1
- ·Repurchases may be made in open market or privately negotiated transactions based on market conditions
31-03-2026
Kentucky Power Cost Recovery LLC filed its 10-K annual report on March 31, 2026. The filing confirms the company has electronically submitted all required Interactive Data Files, is classified as a non-accelerated filer with no securities registered under Section 12(b) or 12(g), is not a shell company, a well-known seasoned issuer, or exempt from filing reports under Sections 13 or 15(d), and has complied with all required report filings over the preceding 12 months.
31-03-2026
Immunic, Inc. (Nasdaq: IMUX) appointed Jon Congleton, a biopharmaceutical executive with nearly 40 years of experience including key roles in the U.S. launch of Copaxone® for multiple sclerosis and current CEO of Mineralys Therapeutics, Inc., to its Board of Directors effective March 27, 2026. This move aims to strengthen leadership expertise in CNS and commercialization as the company advances vidofludimus calcium (IMU-838) through phase 3 trials for relapsing multiple sclerosis, with top-line data expected by end of 2026. No financial impacts or performance metrics were disclosed.
- ·Appointment effective March 27, 2026
- ·Top-line data for IMU-838 phase 3 trials in relapsing MS expected by end of 2026
- ·Jon Congleton's experience: nearly 40 years in biopharmaceuticals, including U.S. neuroscience business at Teva
31-03-2026
Camden National Corporation declared a quarterly dividend of $0.42 per share, payable on April 30, 2026, to shareholders of record on April 15, 2026. The announcement was issued via press release on March 31, 2026, as part of an 8-K filing.
- ·Filing includes Exhibit 99.1: Press Release Dated March 31, 2026
- ·Common Stock traded on The NASDAQ Stock Market LLC under symbol CAC
31-03-2026
Creative Media & Community Trust Corporation filed Articles of Amendment to its charter effecting a 1-for-10 reverse stock split of its common stock, changing the par value from $0.001 to $0.010 per share, effective at 11:58 p.m. ET on March 25, 2026. No fractional shares will be issued, with cash payments in lieu based on the NASDAQ closing price on the effective date. The amendment was duly advised by the Board of Directors and approved by stockholders, with no change to the number of authorized shares.
- ·Articles of Amendment signed on March 23, 2026
- ·SEC 8-K filing date: March 31, 2026
- ·Involves Items 5.03 and 9.01 of Form 8-K
31-03-2026
Alpha Metallurgical Resources, Inc. (AMR) filed its DEF 14A Proxy Statement on March 31, 2026, for the 2026 annual meeting of stockholders held via interactive webcast on May 6, 2026, at 10:00 a.m. Eastern Time. Stockholders of record as of March 10, 2026, are entitled to vote on electing six directors, an advisory vote to approve executive compensation ('Say on Pay'), and ratifying RSM US LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026. As of the record date, there were 12,778,859 common shares outstanding.
- ·Annual meeting webcast access: www.VirtualShareholderMeeting.com/AMR2026
- ·Corporate address: 340 Martin Luther King, Jr. Blvd., Bristol, Tennessee 37620
- ·Board unanimously recommends voting 'FOR' all three proposals
31-03-2026
Acadia Realty Trust's DEF 14A proxy statement announces the virtual annual shareholder meeting on May 13, 2026, at 1:00 p.m. EDT, for electing eight trustees, ratifying Deloitte & Touche LLP as independent auditors for the fiscal year ending December 31, 2026, and approving on a non-binding advisory basis the compensation of Named Executive Officers. The record date is March 16, 2026, with 131,067,861 common shares outstanding entitled to one vote each. The Board recommends voting 'FOR' all proposals.
- ·Meeting held virtually via live webcast at www.virtualshareholdermeeting.com/AKR26
- ·Quorum requires holders of a majority of votes entitled to be cast
- ·Majority of votes cast required for trustee elections, auditor ratification, and advisory compensation approval; abstentions and broker non-votes do not count as votes cast
31-03-2026
On March 31, 2026, T-Mobile USA, Inc. (TMUSA), a wholly-owned subsidiary of T-Mobile US, Inc. (TMUS), released guarantees of certain subsidiaries under its $10 billion revolving credit agreement after repaying legacy indebtedness. This action triggered corresponding releases under indentures dated April 28, 2013, April 9, 2020, and September 15, 2022, governing outstanding senior notes, as well as under other debt facilities including export credit agency facilities and the unsecured short-term commercial paper program. Following the releases, obligors under the revolving credit agreement and senior notes are now TMUSA as issuer/borrower, with guarantors consisting of TMUS, Sprint LLC, Sprint Capital Corporation, and Sprint Communications LLC.
- ·Indentures affected: April 28, 2013; April 9, 2020; September 15, 2022
- ·Additional facilities impacted: export credit agency facilities; unsecured short-term commercial paper program
31-03-2026
Aditxt, Inc.'s total assets declined 49% YoY to $16,516,781 as of December 31, 2025, driven by a 76% drop in Investment in Evofem to $6,646,056, while fixed assets net decreased to $880,241 from $1,547,774. However, cash surged 284% to $3,198,599, total current assets rose 91% to $3,821,735, total liabilities fell 47% to $12,563,099, and total stockholders' equity increased 262% to $3,953,682. The accumulated deficit widened to $(209,808,770) from $(168,094,569), reflecting ongoing losses.
- ·Common shares outstanding increased dramatically to 411,499 from 193, indicating significant dilution.
- ·Mandatorily Redeemable A-1 Preferred Stock at $779,049 (678 shares) in 2025, none in 2024.
- ·Convertible notes receivable at fair value appeared at $3,899,859 in 2025, none in 2024.
31-03-2026
Genco Shipping & Trading Ltd (GNK) filed a DEFA14A additional proxy statement on March 31, 2026, in connection with soliciting proxies for its 2026 Annual Meeting of Shareholders, urging use of the WHITE proxy card and referencing upcoming definitive proxy materials. The filing identifies independent directors (Paramita Das, Kathleen C. Haines, Basil G. Mavroleon, Karin Y. Orsel, Arthur L. Regan) and executives (John C. Wobensmith, Peter Allen, Joseph Adamo, Jesper Christensen) as solicitation participants, with details on their interests available in prior proxy statements and recent Form 4 filings. The company expresses confidence in executing a disciplined plan delivering strong results and superior shareholder value in 2026 and beyond, while noting risks around a non-binding indicative proposal from Diana and dividend discretion.
- ·Prior proxy statement for 2025 Annual Meeting filed April 9, 2025.
- ·Form 4 filings for directors and executives on dates including May 22, 2025; June 3, 2025; August 26, 2025; November 2025 dates; February 18, 2026; February 23, 2026; March 20, 2026.
- ·Investor relations website: https://investors.gencoshipping.com/
- ·SEC website: www.sec.gov
31-03-2026
Jaws Mustang Acquisition Corp reported a net loss of $1,553,158 for the year ended December 31, 2025, compared to net income of $1,682,254 in 2024, driven by a $1,116,750 unfavorable change in fair value of warrant liabilities and sharply lower interest income of $26,223 versus $554,770. Cash balances declined significantly to $60,829 from $319,207, total assets fell to $1,137,801 from $1,373,470, and shareholders' deficit worsened to $(7,134,163) from $(5,554,782), though general and administrative expenses decreased to $462,631 from $1,354,320 and cash in the trust account rose slightly to $1,061,576 from $1,035,353.
- ·Class A ordinary shares subject to possible redemption reduced to 89,480 shares at $11.86 per share as of December 31, 2025 (from implied higher in 2024 at $11.57 per share).
- ·Promissory notes to related parties increased to $1,822,000 from $1,400,000.
- ·Warrant liabilities rose to $2,233,500 from $1,116,750 due to change in fair value.
31-03-2026
Aqua Metals, Inc. reported a narrowed net loss of $22,646 thousand for the year ended December 31, 2025, compared to $24,555 thousand in 2024, with operating cash use improving to $10,253 thousand from $13,632 thousand (24.8% decrease) and cash equivalents rising to $10,810 thousand. However, impairments and loss on disposal of property, plant, and equipment surged 196% to $9,114 thousand, causing net PP&E to plummet 65% to $5,763 thousand and total assets to decline 25% to $19,706 thousand from $26,365 thousand. Stockholders' equity fell to $14,770 thousand from $16,244 thousand amid heavy financing reliance and significant share dilution.
- ·Loss per share improved to ($15.15) from ($38.25) due to dilution.
- ·Net cash provided by investing activities turned positive at $2,898 thousand from ($11,636 thousand).
- ·Net cash provided by financing activities increased to $14,086 thousand from $12,825 thousand.
- ·Stockholders' equity declined to $14,770 thousand from $16,244 thousand.
- ·Warrant liability decreased to $227 thousand from $1,493 thousand.
31-03-2026
Millburn Multi-Markets Fund L.P. reported a net loss of $5,224,098 for the year ended December 31, 2025, compared to net income of $9,205,893 in 2024, driven by net realized and unrealized losses of $5,545,733 allocated from the Master Fund versus gains of $7,853,428. Total assets declined 15.8% to $103,171,727 from $122,530,334, with partners’ capital dropping to $102,624,923 from $121,077,762; NAV per unit fell across all series, with total returns ranging from -1.27% to -4.91%. The Master Fund experienced a sharper contraction, with total assets at $294,405,991 (down from $437,719,149) and a net loss of $10,472,013 versus profit of $37,760,803.
- ·Capital contributions in 2025: $325,253 (Series B: $200,000; Series E: $125,253)
- ·Capital withdrawals in 2025: $13,553,994 across series
- ·Net investment income 2025: $322,912 (down from $1,452,531 in 2024)
- ·Master Fund net unrealized appreciation on futures and forwards as % of partners’ capital: 1.15% (Dec 31, 2025)
- ·Series A units outstanding declined from 79,074.9857 to 71,137.2609
31-03-2026
Aqua Metals reported 2025 milestones including technology advancements like low-fluorine lithium carbonate production (<30 ppm), LFP pilot recycling, strategic partnerships (e.g., with 6K Energy, Westwin Elements), and raised $17.1 million in funding, increasing cash to $10.8 million from $4.1 million while eliminating long-term debt. However, the company posted a net loss of $22.6 million (improved from $24.6 million) amid $9.1 million in impairments, flat operating expenses around $23 million, and a 25% decline in total assets to $19.7 million. Plans for a first commercial ARC facility (10,000-60,000 metric tons/year) advanced alongside potential Lion Energy transaction for downstream expansion.
- ·Produced lithium carbonate with fluorine content below 30 ppm.
- ·Received allowance of foundational U.S. patent for lithium battery recycling technology.
- ·Executed reverse stock split to regain Nasdaq compliance.
- ·Property, plant and equipment, net declined to $5,763 from $16,473 due to impairments.
31-03-2026
Richmond Mutual Bancorporation, Inc. (RMBI) and The Farmers Bancorp, Frankfort, Indiana entered a merger agreement on November 11, 2025, under which Farmers Bancorp will merge into RMBI, creating a combined bank holding company with approximately $2.6 billion in total assets, $224.7 million market capitalization, and 25 branches across Indiana and Ohio. Farmers Bancorp shareholders will receive 3.40 shares of RMBI common stock per Farmers share, valued at $46.07 per share or $85.0 million aggregate based on RMBI's March 30, 2026 closing price of $13.55, with RMBI issuing about 6,269,855 shares and former Farmers shareholders owning 38% of the combined company. Shareholder votes are set for Farmers Bancorp's special meeting on May 26, 2026, and RMBI's annual meeting on May 27, 2026, with both boards unanimously recommending approval.
- ·Exchange ratio: 3.40 RMBI shares per Farmers Bancorp share.
- ·Merger agreement dated November 11, 2025.
- ·RMBI closing price November 11, 2025 (last trading day before announcement): implied value of $44.71 per Farmers share.
- ·RMBI closing price March 30, 2026: $13.55.
- ·Farmers Bancorp special meeting: May 26, 2026, 9:00 a.m. ET.
- ·RMBI annual meeting: May 27, 2026, 9:00 a.m. ET.
- ·Merger expected to qualify as tax-free reorganization under IRC Section 368(a).
31-03-2026
Wheaton Precious Metals Corp.'s 40-F annual filing dated March 31, 2026, discloses risks associated with counterparties' ability to fulfill obligations under the Company's Precious Metal Purchase Agreements (PMPAs) amid potential material adverse effects on their operations, financial condition, or cash flows. Additional risks pertain to proposed amendments to Canada’s transfer pricing regime under the Income Tax Act, stemming from Bill C-15, Budget 2025 Implementation Act, No.1, tabled on November 4, 2025.
- ·PMPAs defined in the Company’s AIF
- ·Risks include acceleration of payments, estimated throughput, and exploration potential under PMPAs
31-03-2026
TMC the metals Company Inc. reported a net loss of $319,844 thousand for the year ended December 31, 2025, up 290% from $81,943 thousand in 2024, primarily due to a $131,000 thousand increase in fair value of royalty liability, $99,772 thousand in G&A expenses (up 226%), and $38,056 thousand Nauru and Tonga warrant costs. Exploration and evaluation expenses declined 20% to $40,282 thousand, and cash balances surged to $117,633 thousand from $3,480 thousand, bolstered by $156,585 thousand in financing inflows. However, total liabilities rose sharply to $215,074 thousand, resulting in more negative equity of $33,443 thousand versus $17,118 thousand.
- ·Change in fair value of royalty liability: $131,000 thousand in 2025 (100% increase from zero).
- ·Nauru and Tonga warrant cost: $38,056 thousand in 2025 (new).
- ·Net cash provided by financing activities: $156,585 thousand in 2025 vs $40,686 thousand in 2024.
- ·Weighted average shares outstanding: 384,512,470 in 2025 (basic and diluted).
- ·Loss per share: $0.83 in 2025 vs $0.25 in 2024.
31-03-2026
Faraday Future Intelligent Electric Inc. reported nearly flat revenue of $536 thousand in 2025, down 0.6% from $539 thousand in 2024. The net loss widened significantly to $397,082 thousand from $355,847 thousand, driven by substantial impairments of $137,435 thousand on long-lived assets and deposits and $4,450 thousand on goodwill, alongside a 252% surge in total operating expenses to $233,284 thousand due to these and other charges. While R&D expenses declined 34% to $16,603 thousand, cost of revenue rose 17% to $98,302 thousand and sales & marketing increased 32.7% to $12,310 thousand.
- ·Loss from operations worsened to $(331,050) thousand from $(149,738) thousand.
- ·Impairment of long-lived assets and deposits: $137,435 thousand in 2025 vs $1,847 thousand in 2024.
- ·Loss on settlement of notes payable: $(100,524) thousand in 2025 vs $(161,725) thousand in 2024 (smaller loss).
- ·Net loss on digital assets: $(4,117) thousand in 2025 (new).
- ·Credit loss expense on short-term note receivable: $4,294 thousand in 2025 (new).
31-03-2026
Reading International, Inc. reported a significantly reduced net loss attributable to the company of $14,140 thousand in 2025, a 60% improvement from $35,301 thousand in 2024, with cinema exhibition operating income turning positive at $3,643 thousand (>100% change from $(2,797) thousand loss) and real estate operating income rising 26% to $5,917 thousand. However, total segment revenues declined 3% to $188,603 thousand from $195,130 thousand, driven by drops in cinema (3%) and real estate (8%) revenues across the US (flat), Australia (5% down), and New Zealand (14% down); Q4 revenues fell 14% to $46,863 thousand with operating income down 76% to $911 thousand.
- ·US real estate NOI improved to $(955) thousand for twelve months 2025 from $(1,285) thousand in 2024 (25.7%).
- ·Australia real estate occupancy factor 98.3% in 2025 (up 2.5 percentage points), average lease duration 3.40 years (down 0.78 years).
- ·New Zealand real estate NOI improved to $(1,142) thousand for twelve months 2025 from $(2,730) thousand in 2024 (58.2%), occupancy 100%.
- ·Gain on sale of assets $8,365 thousand in 2025.
- ·Properties: Manville (US) 46,000 sq ft entertainment, net book value $7,312 thousand; Waurn Ponds (Australia) 6,000/38,000 sq ft, 100% leased, $8,892 thousand.
31-03-2026
IMUNON reported 2025 net loss of $14.5 million, improved from $18.6 million in 2024, with operating expenses down 23% to $14.7 million driven by 33% lower R&D and 8% lower G&A expenses following a strategic reorganization to cut costs. Final Phase 2 OVATION 2 data showed continued overall survival improvement with IMNN-001, increasing to a 14.7-month median benefit (45.1 vs. 30.4 months) vs. standard chemotherapy alone and 24.2 months (65.6 vs. 41.4 months) with PARP inhibitors; Phase 3 OVATION 3 enrollment remains ahead of plan. Cash and equivalents stood at $8.8 million as of December 31, 2025, after $17.1 million from financings including a $7.0 million registered direct offering.
- ·1,939,114 shares (or pre-funded warrants) sold at $3.61 combined price per share and warrant in December 2025 offering; warrants exercisable at $3.482/share, expire in 5 years.
- ·First patient dosed in Phase 3 OVATION 3 in Q3 2025.
31-03-2026
Canton Strategic Holdings, Inc. filed an 8-K on March 31, 2026, announcing via press release its financial results for the full year ended December 31, 2025. The press release is furnished as Exhibit 99.1. No specific financial metrics or period-over-period comparisons are detailed in the filing itself.
- ·Filing includes Items 8.01 (Other Events) and 9.01 (Financial Statements and Exhibits).
- ·Registrant is an emerging growth company.
- ·Common stock trades as CNTN on Nasdaq.
- ·Principal executive offices: 34 Shrewsbury Avenue, Suite 1C, Red Bank, NJ 07701.
31-03-2026
ImmunityBio secured $75 million in non-dilutive financing under its existing Revenue Interest Purchase Agreement (RIPA) with Oberland Capital, increasing total committed capital to $375 million, while Nant Capital converted $25 million of a $505 million promissory note into 4.6 million shares of common stock. These transactions strengthen the balance sheet to support global expansion following ANKTIVA approvals across five jurisdictions covering 34 countries since April 2024. No declines or flat metrics were reported.
- ·ANKTIVA approvals: US (FDA, April 2024), UK (MHRA, July 2025), Saudi Arabia (SFDA, January 2026 for NMIBC CIS and NSCLC), EU (February 2026 covering 27 member states plus Iceland, Norway, Liechtenstein), Macau SAR (March 2026)
- ·Global regulatory footprint of 34 countries established in under two years from initial US FDA approval
31-03-2026
Imunon, Inc. reported total operating expenses of $14,651 thousand for the year ended December 31, 2025, a 23.4% decrease from $19,132 thousand in 2024, primarily due to sharp reductions in PlaCCine vaccine trial costs (-99.3%) and manufacturing (-43.4%), though OVATION 3 trial expenses newly totaled $1,313 thousand. Research and development expenses fell 33.1% to $7,781 thousand, reflecting scaled-back spending in several programs, but the company continued to post an operating loss of $14,651 thousand with no revenue mentioned. Key ongoing initiatives include the IMNN-001 ovarian cancer immunotherapy across OVATION studies and the PlaCCine IMNN-101 vaccine program.
- ·Total lease liabilities of $1,008,765 with weighted average remaining life of 2.4 years and discount rate of 9.98%.
- ·Future lease payments: 2026 $488,822; 2027 $498,086; 2028 $149,896.
- ·Equity compensation plan includes options with weighted average remaining term of 9.0 years.
31-03-2026
Cadiz Inc's total revenues rose 69.8% YoY to $16,313 thousand in 2025 from $9,608 thousand, primarily driven by an 83.3% increase in Water Filtration Technology revenues to $14,478 thousand, while Land and Water Resources revenues grew modestly 7.4% to $1,835 thousand. However, total costs and expenses increased 27.6% to $41,911 thousand, widening the operating loss to $25,598 thousand from $23,249 thousand and the net loss to $34,151 thousand from $31,140 thousand. Cash and equivalents declined to $8,599 thousand from $17,292 thousand, with stockholders' equity dropping to $23,256 thousand from $33,961 thousand.
- ·Basic and diluted net loss per common share improved to $(0.48) from $(0.53).
- ·Net cash used in operating activities decreased to $18,930 thousand from $21,532 thousand.
- ·Long-term debt, net increased to $72,705 thousand from $56,708 thousand.
- ·Total assets grew to $140,914 thousand from $134,494 thousand.
- ·Preferred stock dividend requirements $5,083 thousand in 2025 vs $5,106 thousand in 2024.
31-03-2026
Tharimmune, Inc. reported a significantly widened net loss before taxes of $42.1 million for the year ended December 31, 2025, compared to $12.2 million in 2024, driven by a $22.0 million unrealized loss on digital asset holdings (primarily Canton Coin) and a 62% increase in total operating expenses to $20.1 million, despite a 52% reduction in R&D expenses to $3.1 million. The company is shifting its strategy from biotechnology to a digital asset treasury focused on Canton Coin and operating as a Super Validator on the Canton Network, which led to $77.6 million in investing cash outflows but was offset by $107.2 million in financing inflows, resulting in a net cash increase of $13.5 million.
- ·Equity compensation plans: 657,042 securities outstanding at weighted average exercise price of $4.32; 802,671 remaining available.
- ·Net cash used in investing activities of $77.6M in 2025 primarily for digital asset purchases.
- ·Numerous securities purchase agreements and warrants issued in 2025 for financing.
31-03-2026
Mills Music Trust's 2025 top revenue-generating songs were led by 'SLEIGH RIDE (VOCAL)' at $1,190,557.59 and 'LITTLE DRUMMER BOY' at $1,073,052.22, with the top nine songs collectively generating over $3.6 million in gross revenue. Notable performers included 'SLEIGH RIDE PROMENADE' ($365,657.56) and 'On The Sunny Side Of The Street' ($296,430.01). However, several key songs such as 'On The Sunny Side Of The Street' (public domain 2026), 'SLEIGH RIDE PROMENADE' (2028), and others are approaching the end of their copyright terms, which could lead to future revenue declines.
- ·Song copyrights expire in 2025 ('On The Sunny Side Of The Street'), 2027 (multiple songs), 2030, 2032, and 2045
- ·US Public Domain entry years: 2026, 2028, 2031, 2033, 2046
- ·Filing Date: March 31, 2026
31-03-2026
Commercial Metals Co reported robust Q2 FY2026 results with net sales increasing 21.6% YoY to $2,132,018 thousand and net earnings rising to $93,032 thousand from $25,473 thousand; six-month net sales grew 16.0% YoY to $4,252,325 thousand, swinging to net earnings of $270,314 thousand from a $150,245 thousand loss. However, SG&A expenses surged 39.1% to $233,170 thousand, interest expense jumped 266.5% to $40,928 thousand, litigation expenses persisted at $4,067 thousand, cash and equivalents fell $548,216 thousand to $495,036 thousand, and long-term debt more than doubled to $3,309,895 thousand following a $2,516,079 thousand acquisition.
- ·Inventories increased to $1,143,640 thousand from $934,310 thousand as of Aug 31, 2025.
- ·Goodwill surged to $2,134,724 thousand from $386,846 thousand due to acquisition.
- ·Treasury stock purchases totaled $57,203 thousand in six months ended Feb 28, 2026.
- ·Dividends paid $39,968 thousand ($0.36 per share) in six months ended Feb 28, 2026.
31-03-2026
Metal Sky Star Acquisition Corp reported total assets of $1,025,667 as of December 31, 2025, down 85% from $6,683,844 a year earlier, primarily due to a sharp decline in marketable securities held in trust from $6,677,519 to $1,005,345 amid heavy redemptions (redeemable shares dropped from 552,451 to 60,523). The company swung to a net loss of $553,581 for the year ended December 31, 2025 from a profit of $923,146 in 2024, driven by lower interest income despite reduced formation costs. Total liabilities rose to $8,213,507 from $7,178,842, deepening the shareholders' deficit to $(8,218,185).
- ·Redemption value per share increased to $17.02 from $12.09.
- ·Non-redeemable ordinary shares basic and diluted net loss per share worsened to $(0.31) from $(0.23).
- ·Promissory notes to related party increased to $3,172,403 from $2,822,403.
- ·Targets middle-market growth businesses with $300M-$600M enterprise value.
31-03-2026
The Federal Home Loan Bank of San Francisco disclosed under Item 2.03 the commitment to issue a consolidated obligation bond (CUSIP 3130BA5N3) for which it is the primary obligor, with a par value of $10,000,000, a fixed coupon rate of 4.130%, settlement on April 6, 2026, maturity on July 3, 2030, and an optional European-style principal redemption call on July 3, 2028. This bond is part of routine funding through capital markets sales of consolidated obligations, which are joint and several liabilities of the eleven Federal Home Loan Banks, backed solely by their resources and not by the U.S. government. The filing notes that such issuances are material overall but does not assess materiality of individual obligations, and excludes short-term discount notes and derivatives.
- ·Trade date: March 26, 2026
- ·Settlement date: April 6, 2026
- ·Maturity date: July 3, 2030
- ·Next pay date: July 3, 2026
- ·Next call date: July 3, 2028
- ·Call type: Optional Principal Redemption
- ·Call style: European
31-03-2026
Adia Nutrition, Inc. reported total revenue of $700,508 for the year ended December 31, 2025, a massive 10,885% YoY increase from $6,380 in 2024, primarily driven by new sales of biologics ($443,750 or 63.3%) and medical procedures ($245,600 or 35.1%). However, sales of supplements declined 47% YoY to $3,393, operating expenses more than tripled to $558,162 from $176,943, cost of revenue surged to $508,838, and all segments except ADIA Labs reported losses, resulting in an overall segment loss.
- ·Company qualifies as a 'smaller reporting company' with annual revenues under $100 million.
- ·ADIA Labs was the only profitable segment in 2025 with $148,783 profit; Corporate Overhead loss of $316,139, ADIA Med loss of $198,889.
- ·Gross profit for 2025 was $191,670, up significantly from $2,194 in 2024.
Get daily alerts with 12 investment signals, 10 risk alerts, 8 opportunities and full AI analysis of all 35 filings
🇺🇸 More from United States
View all →March 26, 2026
US Pre-Market SEC Filings Roundup — March 26, 2026
US Pre-Market SEC Filings Roundup
March 25, 2026
US Pre-Market SEC Filings Roundup — March 25, 2026
US Pre-Market SEC Filings Roundup
March 25, 2026
Biotech Small-Cap Approvals — March 25, 2026
Biotech Small-Cap Approvals
March 25, 2026
New Drug Approvals (Original) — March 25, 2026
New Drug Approvals (Original)