NASDAQ: FIEE
FiEE, Inc.CIK 0001467761 · SIC 3661 · Telephone & Telegraph Apparatus
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Latest financial statements
From 10-Q filed Aug 14, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues | 4,825,340 | 44,993 | 6,947,329 | 45,118 |
| Cost of revenues | 951,806 | 43,930 | 1,579,551 | 44,680 |
| Gross profit | 3,873,534 | 1,063 | 5,367,778 | 438 |
| Operating expenses: | ||||
| Selling and marketing | 252,314 | 16,811 | 286,653 | 16,811 |
| General and administrative | 938,162 | 603,744 | 1,935,035 | 944,240 |
| Research and development | 39,226 | 17,419 | 75,813 | 47,419 |
| Total operating expenses | 1,229,702 | 637,974 | 2,297,501 | 1,008,470 |
| Operating income (loss) | 2,643,832 | (636,911) | 3,070,277 | (1,008,032) |
| Other income (expense): | ||||
| Interest income (expense), net | 97 | (2,638) | 97 | (5,427) |
| Foreign currency exchange income (loss) | (6,443) | (131) | 28,552 | (131) |
| Other, net | 125 | - | 27,030 | - |
| Total other income (expense) | (6,221) | (2,769) | 55,679 | (5,558) |
| Income (loss) before income taxes | 2,637,611 | (639,680) | 3,125,956 | (1,013,590) |
| Income tax expense | 526,897 | - | 663,726 | - |
| Net income (loss) | 2,110,714 | (639,680) | 2,462,230 | (1,013,590) |
| Attributable to noncontrolling interests | (482) | - | (482) | - |
| Net income (loss) attributable to owners of parent | 2,111,196 | (639,680) | 2,462,712 | (1,013,590) |
| Allocation to participating preferred stock | (583,312) | - | (695,696) | - |
| Net income (loss) attributable to common stockholders | 1,527,884 | (639,680) | 1,767,016 | (1,013,590) |
| Basic earnings (loss) per common share | 0.18 | (0.13) | 0.22 | (0.20) |
| Diluted earnings (loss) per common share | 0.14 | (0.13) | 0.17 | (0.20) |
| Weighted-average number of common shares outstanding: | ||||
| Basic | 8,453,873 | 5,090,949 | 8,197,613 | 5,090,949 |
| Diluted | 10,786,717 | 5,090,949 | 10,518,841 | 5,090,949 |
| Net income (loss) | 2,110,714 | (639,680) | 2,462,230 | (1,013,590) |
| Other comprehensive income (loss), net of tax: | ||||
| Foreign currency translation adjustment | 4,316 | 1,962 | (31,986) | 1,962 |
| Total comprehensive income (loss) | 2,115,030 | (637,718) | 2,430,244 | (1,011,628) |
Condensed Consolidated Balance Sheets (Unaudited)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash | 5,435,709 | 3,084,461 |
| Accounts receivable | 5,134,459 | 2,110,715 |
| Other receivables, net | - | 1,217,692 |
| Prepaid expenses and other current assets | 373,949 | 199,309 |
| Total current assets | 10,944,117 | 6,612,177 |
| Property, equipment and software, net | 860,482 | 366,439 |
| Intangible assets | 2,888,743 | 3,529,835 |
| Operating lease right-of-use assets, net | - | 31,004 |
| Goodwill | 24,990 | - |
| Deferred tax assets | 26,371 | - |
| Other assets | 341,814 | 231,680 |
| Total assets | 15,086,517 | 10,771,135 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities | ||
| Accounts payable | 821,899 | 511,206 |
| Contract liabilities | 343,015 | 1,497,721 |
| Accrued expenses and other current liabilities | 1,307,982 | 1,169,737 |
| Income tax payable | 1,382,613 | 972,743 |
| Current maturities of operating lease liabilities | - | 30,350 |
| Total current liabilities | 3,855,509 | 4,181,757 |
| Total liabilities | 3,855,509 | 4,181,757 |
| Commitments and Contingencies (Note 7) | ||
| Stockholders’ equity | ||
| Preferred Stock, authorized: 10,000,000 shares at $0.001 par value, including 3,000,000 shares designated as Series A Convertible Preferred Stock at $0.001 par value; 2,305,357 Series A shares issued and outstanding at June 30, 2026 and December 31, 2025, aggregate liquidation preference of $3,227,500 at June 30, 2026 and December 31, 2025, respectively | 1,639,779 | 1,639,779 |
| Common Stock, authorized: 60,000,000 shares at $0.01 par value; issued and outstanding: 8,528,598 shares at June 30, 2026 and 7,934,122 shares at December 31, 2025, respectively | 85,286 | 79,341 |
| Additional paid-in capital | 102,750,237 | 100,500,280 |
| Accumulated deficit | (93,158,867) | (95,621,579) |
| Accumulated other comprehensive loss | (40,429) | (8,443) |
| Total stockholders’ equity attributable to parent | 11,276,006 | 6,589,378 |
| Noncontrolling interests | (44,998) | - |
| Total stockholders’ equity | 11,231,008 | 6,589,378 |
| Total liabilities and stockholders’ equity | 15,086,517 | 10,771,135 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income (loss) | 2,462,230 | (1,013,590) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 695,598 | 71,797 |
| Amortization of right-of-use assets | 31,004 | 19,746 |
| Non-cash interest expense | - | 5,425 |
| Stock-based compensation | 309,732 | - |
| Deferred taxes | (26,371) | - |
| Allowance for credit losses other receivables | 71,702 | - |
| Amortization of deferred financing costs | 150,000 | - |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (5,031,796) | - |
| Other receivables | 1,145,991 | (519,822) |
| Prepaid expenses and other current assets | 39,807 | (44,985) |
| Other assets | 8,004 | (77,419) |
| Accounts payable | 669,708 | (143,414) |
| Contract liabilities | (1,165,942) | 1,468,346 |
| Income tax payable | 409,870 | - |
| Accrued expenses and other current liabilities | 351,191 | 426,052 |
| Operating lease liabilities | (30,350) | (20,181) |
| Net cash provided by operating activities | 90,378 | 171,955 |
| Cash flows from investing activities: | ||
| Cash acquired in acquisition of Yinlian Culture and its consolidated VIE | 876,595 | - |
| Purchase of property, equipment and software | (510,164) | - |
| Net cash provided by investing activities | 366,431 | - |
| Cash flows from financing activities: | ||
| Proceeds from the issuance of common stock | 1,999,993 | 4,000,000 |
| Proceeds from the issuance of convertible note | - | 300,000 |
| Payment of deferred financing costs | (82,600) | - |
| Net cash provided by financing activities | 1,917,393 | 4,300,000 |
| Effect of foreign exchange rate changes on cash | (22,954) | 1,962 |
| Net increase in cash | 2,351,248 | 4,473,917 |
| Cash beginning | 3,084,461 | 30,162 |
| Cash ending | 5,435,709 | 4,504,079 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid during the period for: | ||
| Interest | - | - |
| Income taxes | 271,717 | - |
| Supplemental disclosures of non-cash activities: | ||
| Non-cash common stock issued and to be issued that was recognized in deferred offering costs | - | 150,000 |
| Obtaining right-of-use assets in exchange for operating lease liability | - | 79,580 |
| Purchase of property, equipment, and intangible assets through increase in other payables | - | 1,490,000 |
| Addition to property, equipment and software through reclassification of prior year prepayment | 44,613 | - |
| Non-cash settlement of accounts receivable through customers’ payments made directly to prepaid expenses, accounts payable, and other payables. | 898,146 | - |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗