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- Material Weakness (worsened) — Software remediation deadline slipped from 2025 to later in 2026, extending the period of control deficiency.
TRNR adds two acquisitions, doubles debt to $20M, and extends control-weakness deadline
Filed May 20, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 19, 2025 · ~1 min read
Key Changes
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Near-term debt maturities doubled to $18.2M from $9.0M, due within twelve months; company lacks cash to repay if settlement required and maintains going-concern warning despite revenue growth to $5.1M.
MD&A: Liquidity & Going Concern verify on EDGAR → -
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Acquired Ergatta (game-based rowers) for $13.4M in March 2026 and Wattbike (high-performance bikes) for $3.7M in July 2025, funded via new Series D/E preferred stock classified as liabilities due to stockholder-approval contingencies.
Legal Proceedings: Acquisitions verify on EDGAR → -
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Sportstech acquisition collapsed after $6.6M bridge loan; company settled for $6.4M cash in March 2026, recognizing $0.2M credit loss and removing all prior transaction disclosures.
Legal Proceedings: Sportstech Settlement 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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Source-verified from EDGAR · Narrative written by AI · May 25, 2026 · How we verify