iPower (IPW) Registration filing summary

Company overview and business model

• Technology- and data-driven infrastructure platform built on supply-chain services, software, commerce operations, and partner-based procurement, logistics, warehousing, and fulfillment.

• Current strategic focus shifted toward AI infrastructure acquisitions, financing, equipment leasing, and related operating opportunities; digital-asset exposure is being reduced.

• Divested Global Product Marketing in February 2026 for a $2.3M promissory note while retaining a supply relationship; June 2026 amendments removed mutual exclusive sourcing and distribution obligations.

Financial performance and metrics

• As of Oct. 8, 2026, controlled accounts held $4.82M cash and 15.11524045 BTC with an indicated value of $1.24M; total controlled-account assets were $6.05M.

• Convertible-note facility has $30M aggregate original principal; $15.18M of Series A notes sold, with $15M in additional Series A notes remaining available.

• As of Oct. 9, 2026, $10.90M of Series A notes had converted into 2,360,275 shares at an average conversion price of $11.02 per share, post-reverse splits.

• FY ended June 30, 2026 and 2025 consolidated financial statements were audited by HTL International LLC.

Use of proceeds and capital allocation

• Shelf-offering proceeds are intended for general corporate purposes, including working capital, capital expenditures, R&D, and technology or business acquisitions; timing depends on funding needs and other capital availability and cost.

• Proceeds from future additional convertible-note closings may fund any management-determined corporate purpose, including working capital, debt repayment, and AI infrastructure.

• Capital-allocation priority has shifted from passive digital-asset accumulation to direct AI infrastructure and operating opportunities; no automatic or recurring digital-asset purchase program is in place.

• Digital assets and other property in controlled accounts, plus related proceeds, are pledged as collateral; sale or redemption within the account does not release the collateral.