CID HoldCo (DAIC) Registration Filing summary

Company overview and business model

• Provides a SaaS platform for real-time tracking and visibility of high-value assets using IoT, AI, and machine learning, targeting industries with complex logistics and physical operations.

• Solutions include asset, inventory, personnel, and vehicle tracking, with applications in manufacturing, logistics, healthcare, aviation, and military sectors.

• Business model is subscription-based, with multi-year contracts and integration with enterprise systems (ERP, MES, WMS).

• Recent business combination and PIPE financing have expanded capital resources and market reach.

Financial performance and metrics

• Revenue for the nine months ended September 30, 2025 was $1.26 million, up 585% year-over-year; gross margin decreased to 54.5% due to higher product sales.

• For the year ended December 31, 2024, revenue was $172,661, down 60.7% from 2023, with a negative gross margin due to increased costs.

• Net loss for the nine months ended September 30, 2025 was $34.4 million; accumulated deficit as of September 30, 2025 was $59.1 million.

• Cash as of September 30, 2025 was $1.4 million, with a working capital deficit of $5.4 million.

• Company has a history of operating losses and expects to continue incurring losses for the foreseeable future.

Use of proceeds and capital allocation

• Estimated net proceeds of $9.2 million from the offering, after fees and expenses, with no minimum raise required.

• Proceeds will be used to repay outstanding debt under a senior secured convertible loan, with any surplus for working capital and general corporate purposes.

• Management has broad discretion over use of funds; additional capital raises may be needed within 6–9 months.