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Red Flags Detected

  • Going Concern (new) — Company discloses substantial doubt about ability to continue operations without additional capital or improved performance.
  • Material Weakness (new) — Company identified material weaknesses in internal controls over financial reporting, creating risk of misstated financials.
  • Asset Impairment (new) — Company recorded $1.4M in goodwill and intangible asset impairment charges in 2023.
NASDAQ: DBGI Digital Brands Group, Inc. 10-K

DBGI delisted from Nasdaq, raises $12.7M in preferred stock amid $16.1M working capital deficit

Filed April 15, 2026 · Period ending December 31, 2025 · Compared to 10-K Apr 9, 2025 · ~1 min read

Key Changes

  • high

    Company delisted from Nasdaq on December 18, 2024 for violations of bid price, equity, and shareholder approval rules; stock now trades on OTC Pink Market. Completed 1-for-50 reverse split in December 2024.

    Business verify on EDGAR →
  • high

    Working capital deficit of $16.1M as of December 31, 2024; company explicitly states it is currently unable to repay or refinance $3.5M in Bailey acquisition notes and that lender action could force bankruptcy or liquidation.

    Risk Factors verify on EDGAR →
  • high

    Raised $12.7M through Series D Convertible Preferred Stock in August-September 2025; also raised $7.5M in February 2025 equity offering with warrants. Issued 1.7M shares as payment for new collegiate NIL apparel agreements.

    MD&A verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Source-verified from EDGAR · Narrative written by AI · Jun 3, 2026 · How we verify