ADDED
As of March 30, 2026, the registrant had 1,455,975 shares of common stock, par value $ 0.0001 per share, outstanding.
Such forward-looking statements include, but are not limited to, future financial and operating results, the company s plans, objectives, expectations and intentions, statements concerning its transition to a Stable-coin focused cryptocurrency treasury model, the strategic review of our product development strategy, the re-engineering and development of the Vanish (the Vanish ) and other statements that are not historical facts.
tax treatment of digital assets is unclear and could result in adverse tax consequences; failure in our information technology and storage systems could significantly disrupt the operation of our business; We may be named in legal proceedings or become subject to regulatory inquiries, which could be costly and result in unfavorable outcomes; and Anti-takeover provisions in our certificate of incorporation, bylaws, and Delaware law could discourage or prevent a change of control that stockholders may consider favorable.
Overview We have historically designed and manufactured compact, sustainable electric vehicles.
In July 2025, we commenced a strategic transition toward a new business model focused on digital asset initiatives, with a focus on targeting the acquisition of crypto tokens that are directly capitalizing on the rapid growth of the stablecoin industry.
We view the stablecoin ecosystem as a rapidly growing segment of the global financial infrastructure and believe that the entry into this market can provide a complementary revenue stream and enhance stockholder value.
Our approach is intended to focus on acquiring and holding crypto assets within the stablecoin space and deploying them in a manner designed to generate yield while managing associated risks.
In connection with this strategic shift, we announced a target goal of acquiring up to $100 million in crypto assets, subject to available capital, market conditions and regulatory considerations.
Our investment strategy centers on acquiring digital assets (tokens) that provide essential infrastructure and enabling technologies for the stablecoin sector, often referred to as the picks and shovels approach.
Rather than directly investing in stablecoins themselves (which function as the primary commodity in this analogy), we target tokens associated with protocols, networks, and platforms that facilitate the issuance, transfer, custody, compliance, trading, lending, and scalability of stablecoins.
REMOVED
As of March 28, 2025, the registrant had 8,541,466 shares of common stock, par value $ 0.0001 per share, outstanding.
relating to the 2025 annual meeting of stockholders to be filed within 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K, are incorporated into Part III of this Annual Report on Form 10-K by reference.
Such forward-looking statements include, but are not limited to, future financial and operating results, the company s plans, objectives, expectations and intentions, statements concerning the strategic review of our product development strategy, the development and launch of the AYRO Vanish (the Vanish ) and other statements that are not historical facts.
These features may increase the number of shares of common stock issuable upon conversion of the Series H-7 Preferred Stock or upon the exercise of the Series H-7 Warrants; under the Purchase Agreement (as defined herein) we are subject to certain restrictive covenants that may make it difficult to procure additional financing; a significant portion of our revenues has historically been derived from Club Car LLC ( Club Car ) pursuant to the MPA (as defined herein).
Overview We design and manufacture compact, sustainable electric vehicles for closed campus mobility, low speed urban and community transport, local on-demand and last mile delivery and government use.
Our four-wheeled purpose-built electric vehicles are geared toward commercial customers, including universities, business and medical campuses, last mile delivery services and food service providers.
Strategic Review For the past several years, AYRO s primary supplier for the AYRO 411x has been Cenntro Automotive Group, Ltd.
( Cenntro ), which operates a large electric vehicle factory in the automotive district in Hangzhou, China.
As a result of rising shipping costs, quality issues with certain components and persistent delays, the Company ceased production of the AYRO 411x from Cenntro in September 2022 in order to focus its resources on the development and launch of the new 411 fleet vehicle model year 2023 refresh, the Vanish (the Vanish ).
The Company began the design and development of the Vanish in December 2021, including updates to its supply chain, the offshoring/onshoring mix, and its manufacturing strategy.