XML 39 R28.htm IDEA: XBRL DOCUMENT v3.25.2
Subsequent Events
 6 Months Ended
Jun. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events

Note 19 – Subsequent Events

 

Subsequent events have been evaluated through the date of this filing and there are no subsequent events which require disclosure, except as follows:

 

On July 1, 2025, Lind converted $1,650,000 of the February 2025 Note into 265,273 shares of the Company’s common stock at a conversion price of $6.22 per share.

 

On July 17, 2025, Lind exercised 200,000 February 2025 Warrants at a price of $7.62 per share, resulting in proceeds of $1,524,000.

 

On August 1, 2025, Lind converted $1,650,000 of the February 2025 Note into 262,321 shares of the Company’s common stock at a conversion price of $6.29 per share.

 

In July 2025, the Company obtained the TD3 LRP contract with the U.S. Army to deliver up to 690 SRR Black Widow systems.

 

In July 2025, Firestorm raised approximately $47 million through a Series A preferred stock financing. The Company is currently assessing the value of the Firestorm SAFE investment and will record a gain during the three month period ending September 30, 2025.