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- Going Concern (unchanged) — Substantial doubt persists; cash runway remains under 12 months ($0.8M vs $14.3M prior year), though FCL provides potential $11.8M backstop.
- Delisting (new) — Company received May 2026 Nasdaq deficiency letters for stockholders' equity and board composition; compliance plans submitted, determinations pending.
TPST narrows Q2 loss 34% to $5.2M; faces Nasdaq delisting risk, $0.8M cash vs $11.8M FCL
Filed August 13, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 11, 2025 · ~1 min read
Key Changes
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high
Company received two Nasdaq deficiency notices in May 2026: stockholders' equity below $2.5M and board composition failures after director resignations. Compliance plans submitted; determinations pending.
Risk Factors: Nasdaq deficiency verify on EDGAR → -
high
Cash fell from $14.3M to $0.8M year-over-year. A $20M Funding Commitment Letter with Factor provides $11.8M available, but access is uncertain and timing unclear.
Risk Factors: going concern verify on EDGAR → -
high
Multiple director resignations and CFO departure create continuity risks. Two new independent directors appointed, but audit committee composition deficiency remains.
Risk Factors: board and management turnover verify on EDGAR →
1 more material change 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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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 13, 2026 · How we verify