ADTX net loss triples to $16.2M on below-the-line costs; Nasdaq issues delisting notice

Filed May 20, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2025 · ~2 min read

Key Changes

• high

  Net loss widened 172% to $16.2M while operating loss improved 22%, driven by undisclosed below-the-line costs (interest, taxes, or non-operating expenses). Cash fell 44% to $269K, covering less than 3 weeks of the $99K weekly debt payment.

  Risk Factors: Cash position & quarterly loss verify on EDGAR →
• high

  Nasdaq issued formal delisting determination May 6, 2026 for bid-price non-compliance. Company ineligible for extension due to cumulative 250-for-1+ reverse splits over two years; appealing to Hearings Panel.

  Risk Factors: Delisting status verify on EDGAR →
• high

  Past-due payables (over 90 days) rose from $4.8M to $5.8M despite flat total payables at $6.6M, indicating worsening vendor payment delays as cash position deteriorated.

  Risk Factors: Accounts payable aging verify on EDGAR →