DNA X, Inc.

DNA X, Inc. announced the termination of its ChEF Purchase Agreement and Registration Rights Agreement with Chardan Capital Markets LLC. The ChEF Agreement, originally entered into on September 29, 2025, committed Chardan to purchase up to $500 million of the company's common stock. Both agreements were terminated effective May 28, 2026, by mutual agreement.

DNA X, Inc. entered into a Securities Purchase Agreement with DNA Holdings Venture, Inc. on May 20, 2026, issuing a convertible promissory note with a principal amount of $3,052,787.68. The consideration included $1.8 million in cash and the surrender of a previous note. Concurrently, the company received a delisting determination letter from Nasdaq on May 22, 2026, due to its failure to comply with the $2.5 million stockholders' equity requirement, having reported a deficit of $983,000 as of March 31, 2026.

DNA X, Inc. reported a net income of $6.34 million for the three months ended March 31, 2026, a significant increase from $0.46 million in the prior year, primarily driven by income from discontinued operations. The company completed its strategic shift on January 23, 2026, selling its cell phone manufacturing business and rebranding to focus on an AI and crypto trading platform. Despite recent financing of $1.8 million, substantial doubt exists regarding the company's ability to continue as a going concern beyond December 31, 2026, due to uncertainty around note conversion or securing additional capital.

DNA X, Inc. reported a net income of $6.34 million for the first quarter ended March 31, 2026. This was primarily driven by $10.268 million in income from discontinued operations, following the successful sale of its mobile device assets to NEXA Mobility for $15 million in January 2026. The company also completed its rebranding from Sonim Technologies Inc. to DNA X, Inc. and is now focused on enhancing its AI and crypto trading platform business.

DNA X, Inc. (SONM) dismissed Baker Tilly US, LLP as its independent registered public accounting firm on April 27, 2026. The Audit Committee simultaneously engaged TAAD LLP for the fiscal year ending December 31, 2026. Baker Tilly's FY2025 audit report included a going concern statement, and a material weakness in internal controls was noted, though no disagreements were reported.

DNA X, Inc. announced the resignations of CEO Peter Liu and CCO Charles Becher, effective January 2026. Mr. Liu received a cash severance of $855,000, while Mr. Becher received $250,000, both including accelerated vesting of stock options. Mike Mulica was appointed Acting CEO in January 2026. The company also filed an amendment to its Form 10-K to include inadvertently excluded exhibits and new officer certifications, and disclosed details on director and executive compensation, and share ownership. Two instances of delinquent Section 16 reports were noted.

DNA X, Inc. announced its financial results for the full year ended December 31, 2025. The company completed the acquisition of the DNA X cryptocurrency trading platform in December 2025 and launched its DNA X.us website in November 2025. Additionally, DNA X closed the sale of its mobile device assets to NEXA in January 2026, signaling a strategic focus on enhancing its cryptocurrency trading platform for future growth.

DNA X, Inc. (SONM) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2025. The company confirmed its status as a non-accelerated filer and a smaller reporting company, having met all required filing obligations over the past year. As of June 30, 2025, the aggregate market value of its common stock held by non-affiliates was approximately $12.