Fabric.AI, Inc.

Listed Company

FABCCIK 0001086745NasdaqNon-AcceleratedSmaller ReportingCommunications Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-21.09M

Total Assets

$11.41M

Equity

$3.71M

Shares Out

1.46M

Op. Cash Flow

$-7.70M

Business

StableX Technologies, Inc. designs and manufactures compact, sustainable, four-wheeled electric vehicles for closed-campus mobility, low-speed urban/community transport, last-mile delivery and government use. Its main products and services include purpose-built LSEVs such as the Vanish fleet vehicle, modular reconfigurable payload systems, batteries and accompanying web-based fleet applications, and a newly announced robotics division for automated EV manufacturing. The company operates as a single reportable segment focused on manufacturing and sales of environmentally conscious minimal-footprint EVs. It primarily serves the North American market through direct and channel partnerships, OEM supply relationships, and fleet and campus customers.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	—	63,777	498,917	3	3
Cost of goods sold	956,160	7	5	6	5
Gross loss	−956,160	−7	−5	−3	−2
Research and development	1	1	7	7	11
Sales and marketing	—	990,471	2	2	2
General and administrative	8	9	14	12	17
Loss on impairment of long-lived assets	—	2	—	—	—
Total operating expenses	9	13	24	20	31
Loss from operations	−10	−19	−28	−23	−33
Interest income	126,620	484,325	441,443	182,276	—
Change in fair value - warrant liability	−12	11	−3	—	—
Change in fair value - derivative liability	3	7	−4	—	—
Unrealized loss on digital assets	−2	—	—	—	—
Unrealized gain (loss) on marketable securities	−91,936	−98,315	215,900	−1,713	—
Realized gain on marketable securities	409,818	1	941,950	160,990	—
Legal settlement	—	−1	—	—	—
Vendor settlement	—	−647,833	—	—	—
Consent and waiver fee - Series H-7	−350,000	—	—	—	—
Other income (expense), net	196,353	−39,294	—	—	—
Total other income (expense), net	−11	18	−6	341,553	49,456
Net income (loss) prior to provision for income taxes	−21	−2	−34	−23	−33
Provision for income taxes	—	—	—	—	—
Net income (loss)	−21	−2	−34	−23	−33
Dividends earned on Series H-7 convertible preferred stock	−2	−2	−697,991	—	—
Accretion of discounts to redemption value of Series H-7 convertible preferred stock	−5	−8	—	—	—
Net loss attributable to common stockholders	−28	−12	−39	−23	−33
Net loss per share basic	−32.24	−32.25	−8.19	−4.95	−0.94
Net loss per share diluted	−32.24	−32.25	−8.19	−4.95	—
Basic weighted average Common Stock outstanding	875,190	385,652	5	5	—
Diluted weighted average Common Stock outstanding	875,190	385,652	5	5	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	5	16	33	39	69
Restricted cash	110,264	164,682	10	—	—
Marketable securities	3	4	—	10	—
Prepaid expenses and other current assets	951,175	972,245	2	1	2
Total current assets	9	21	49	52	76
Operating lease right-of-use asset	227,171	429,819	671,451	819,401	1
Digital assets	2	—	—	—	—
Deposits and other assets	20,883	46,665	95,532	73,683	129,610
Total assets	11	22	53	55	78
Accounts payable	916,685	2	2	1	647,050
Accrued expenses and other current liabilities	476,592	793,819	2	964,937	3
Accrued preferred stock redemption payable (H-7)	—	1	—	—	—
Current portion lease obligation operating lease	250,517	219,085	196,682	165,767	206,426
Total current liabilities	2	4	4	2	4
Derivative liability	19,000	3	9	—	—
Warrant liability	—	2	13	—	—
Lease obligation - operating lease, net of current portion	33,225	283,742	502,831	693,776	859,543
Total liabilities	2	9	28	3	5
Preferred Stock, value	—	—	—	—	—
Common Stock, ($0.0001 par value; authorized 1,200,000,000 and 200,000,000 shares as of December 31, 2025, and December 31, 2024, respectively; issued and outstanding 1,455,975 and 533,842 shares as of December 31, 2025, and December 31, 2024, respectively)	146	53	492	466	3,687
Additional paid-in capital	142	122	129	133	132
Accumulated deficit	−138	−117	−115	−81	−58
Total stockholders equity	4	5	14	52	73
Total liabilities, mezzanine equity and stockholders equity	11	22	53	55	78

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	25,282	2	1	762,206	527,584
Loss on disposal of fixed asset	—	359,965	—	—	—
Stock-based compensation	2	713,749	918,058	1	8
Shares issued for services	—	126,000	—	—	—
Series H-7 preferred stock waiver	350,000	—	—	—	—
Series I financing costs	754,815	—	—	—	—
Amortization of right-of-use asset	202,648	197,457	147,950	193,483	206,375
Bad debt expense	—	189,092	344,492	4,485	99,309
Impairment of inventory	—	5	3	—	—
Impairment of prepaid inventory	—	731,129	—	—	—
Vendor settlements	—	547,847	—	—	—
Accounts receivable	—	29,908	−53,421	454,873	−302,887
Inventory	—	−2	−6	830,845	−3
Prepaid expenses and other current assets	1	−76,484	−408,937	−581,846	−667,416
Deposits and other assets	500	22,491	500	18,797	−18,797
Accounts payable	−946,359	−618,362	1	445,165	−120,155
Accrued expenses and other current liabilities	−317,227	−1	724,246	−1	2
Lease obligations - operating leases	−219,085	−196,686	−160,030	−206,426	−180,404
Net cash used in operating activities	−8	−13	−26	−19	−27
Purchase of property and equipment	—	−199,323	−2	−2	−538,012
Proceeds from sale of marketable securities, net	33	66	11	—	—
Purchase of digital assets	−4	—	—	—	—
Purchase of marketable securities	−32	−69	—	−10	—
Net cash used in investing activities	−3	−3	9	−11	−600,363
Proceeds from sale of preferred stock (I), net of transaction costs	6	—	—	—	—
Proceeds from exercise of Series H-7 Preferred warrants	1	—	—	—	—
Payment of preferred stock redemption (Series H-7)	−8	−10	—	—	—
Payment of shares buyback	—	−376,630	—	—	—
Repurchase of cash-settled restricted stock	—	−285,250	—	—	—
Net cash used in financing activities	−551,875	−11	22	—	60
Net change in cash, cash equivalents and restricted cash	−11	−27	4	−30	33
Fixed asset additions included in accounts payable and accrued expenses	—	57,791	32,642	—	—
Accrual of Series H-7 convertible preferred stock dividends	2	2	—	—	—
Deemed dividend Series H-7 warrants	662,551	564,886	—	—	—
Accretion of discounts to redemption value of H-7 convertible preferred stock	9	8	—	—	—
Accretion of discounts to redemption value of I convertible preferred stock	2	—	—	—	—
Accrued Series H-7 preferred stock redemption payable	11	1	—	—	—
Accrual of Series I Convertible Preferred Stock Dividends	140,972	—	—	—	—
Non-cash redemption of Series H-7 preferred stock	5	3	—	—	—
Reclassification of warrant liability to equity (H-7)	14	—	—	—	—
Reclassification of warrant liability to equity (I)	4	—	—	—	—
Accrued waiver fee related to Series H-7 preferred stock	350,000	—	—	—	—
Prepaid insurance financed through accrued expenses	110,208	286,955	—	—	—

Filings

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