M&A - MINIM, INC.

Form Type: 10-Q

Filing Date: 2025-05-15

Corporate Action: Acquisition

Type: New

Accession Number: 000182912625003706

Filing Summary: FiEE, Inc. has reported a net loss of $373,910 for the quarter ended March 31, 2025, demonstrating a significant decrease in revenues from $639,893 in the same quarter the previous year to only $125 this year. The major operating expenses greatly overshadowed revenues, leading to an operating loss of $371,121. Furthermore, the company is pursuing a potential acquisition involving the complete purchase of Suzhou Yixuntong Network Technology Co., Ltd., for a total of $2 million, with an initial prepayment of $300,000 pending completion of due diligence. The Company has also undergone a name change from Minim, Inc. to FiEE, Inc., effective February 27, 2025. Financial indicators show a cash position of $9,104 as of March 31, 2025, down from $30,162 in the prior quarter. Liabilities have increased significantly, resulting in a total of $861,796, indicating substantial financial restructuring needs. The management's plan continues to focus on expanding operations alongside cost adjustments to match sales levels while navigating a markedly challenging financial environment.

Form Type: 8-K/A

Filing Date: 2025-05-12

Corporate Action: Acquisition

Type: Update

Accession Number: 000182912625003580

Filing Summary: On May 9, 2025, FiEE, Inc. entered into two Securities Purchase Agreements with Cao Yu and Hu Bin, through which it sold a total of 2,439,025 shares of common stock for a combined total of $4,000,000. Additionally, the company entered into the Helena Purchase Agreement, allowing it to issue and sell up to $15,000,000 worth of common stock to Helena Global Investment Opportunities I Ltd. Shares issued to Helena under this agreement will be subject to ownership limits that prevent total beneficial ownership from exceeding 9.99% of outstanding shares. Furthermore, FiEE entered a second amended and restated Securities Purchase Agreement to clarify terms with David Lazar and offered a Convertible Note for $300,000, convertible into common stock upon stockholder approval. FiEE expects that the capital raised will ensure compliance with Nasdaq listing requirements. This document also amends the original Form 8-K filed on May 12, 2025, regarding the Helena Purchase Agreement and provides additional disclosure under Item 8.01.

Form Type: 10-K

Filing Date: 2025-04-10

Corporate Action: Acquisition

Type: New

Accession Number: 000182912625002538

Filing Summary: FiEE, Inc., formerly known as Minim, Inc., filed its 10-K for the fiscal year ended December 31, 2024. The company has transitioned from traditional consumer networking and intelligent software services to becoming a digital service provider focused on integrating artificial intelligence and data analytics into content creation and brand management. On February 18, 2025, the company closed a purchase agreement for securities with purchasers who obtained Series A Convertible Preferred Stock and warrants to purchase common stock. Additionally, a non-binding letter of intent was signed on March 25, 2025, for acquiring equity interests in Suzhou Yixuntong Network Technology Co., Ltd. The company also reported a suspension of its trading status on the Nasdaq due to not meeting stockholders' equity requirements and is in the process of addressing additional deficiencies noted by Nasdaq regarding shareholder approval and governance requirements.

Form Type: SCHEDULE 13D/A

Filing Date: 2025-03-10

Corporate Action: Acquisition

Type: Update

Accession Number: 000092189525000727

Filing Summary: This document is Amendment No. 5 to the Schedule 13D filed by David E. Lazar regarding his ownership of shares in FiEE, Inc. It details several transactions, including the acquisition of 1,200,000 shares of Common Stock on February 18, 2025, as part of a total beneficial ownership of 2,802,254 shares, representing approximately 35.1% of the company. Lazar also sold 2,219,447 shares of Series A Preferred Stock as part of a transaction worth $500,000. The document outlines the conditions of a securities purchase agreement and the Reporting Person's rights to additional payments and shares contingent upon meeting specific milestones related to regulatory approvals. It specifies the implications of a Conversion Increase on the Series A Preferred Stock and details about the Reporting Person's voting rights and conditions for consideration.

Form Type: SCHEDULE 13D

Filing Date: 2025-02-25

Corporate Action: Acquisition

Type: New

Accession Number: 000182912625001210

Filing Summary: On February 18, 2025, MINIM, INC. entered into the Amended and Restated Securities Purchase Agreement, wherein significant purchases of stock and warrants were made by Cao Yu, Hu Bin, and Youxin Consulting Limited from David Lazar. The Purchasers acquired 2,219,447 shares of Series A Convertible Preferred Stock, a warrant for up to 2,800,000 additional shares of Common Stock with an exercise price of $1.00, and additional shares and preferred stock. The total purchase price for the securities was $500,000. As further consideration, the Seller may receive an additional payment of up to $3,400,000 if MINIM, INC.'s Common Stock lists on a recognized Trading Market by December 31, 2025, among other terms. The transaction also includes a provision to amend the certificate of incorporation regarding the Series A Convertible Preferred Stock.