SkyAI pivots to Solana treasury, posts $86M loss on crypto holdings; exits manufacturing

Filed May 14, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2025 · ~2 min read

Key Changes

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  Company adopted Solana treasury strategy in August 2025, recording $82M in combined realized and unrealized losses on SOL holdings in Q1 2026 ($71M unrealized, $11M realized from selling 100k SOL at $93 vs $201 cost basis). Staking revenue of $3M partially offset losses.

  MD&A: Digital Commodity Strategy verify on EDGAR →
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  Discontinued in-house syringe R&D and manufacturing in October 2025, shifting to asset-light distribution model with third-party sourcing. First product revenue of $193k in Q1 2026 remains immaterial against $86M net loss.

  MD&A: Business Operations verify on EDGAR →
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  Three previously disclosed lawsuits totaling $2.7M in claims (Berler federal suit for $456k, Berler arbitration seeking $500k plus IP reversion, Plastomold suit for $1.8M) no longer reported with no resolution details provided.

  Legal Proceedings verify on EDGAR →