T3 Defense pivots to aerospace/defense, posts first revenue but faces Nasdaq delisting risk

Filed May 20, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 23, 2025 · ~2 min read

Key Changes

• high

  Company received Nasdaq deficiency notice for failing to maintain $1.00 minimum bid price; has until November 2026 to regain compliance or face delisting, with reverse stock split under consideration.

  MD&A: Nasdaq Compliance verify on EDGAR →
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  Generated $3.7 million in first-quarter revenue following transformation from fintech to defense/aerospace acquirer, but swung to $26 million net loss from $103 million prior-year income due to warrant liability accounting reversal.

  MD&A: Financial Results verify on EDGAR →
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  CEO converted $2.1 million in debt plus interest into 4.2 million shares at $0.51 per share, eliminating debt obligation but diluting existing shareholders at depressed stock price.

  MD&A: Debt Conversion verify on EDGAR →