---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-011654"
form_type: "8-K"
ticker: "FABC"
cik: "0001086745"
company_name: "Fabric.AI, Inc."
filed_at: "2023-04-10T23:59:59+00:00"
generated_at: "2026-06-17T03:59:37.547078+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# AYRO terminates Club Car procurement agreement; receives Nasdaq bid price extension

## Summary
- Terminated exclusive MPA with Club Car after it failed to meet 500-vehicle annual minimum for 2020-2022.
- No termination penalties incurred by AYRO or its subsidiary AYRO Operating.
- Nasdaq granted additional 180-day compliance period for minimum bid price until October 2, 2023.
- Company intends to cure bid price deficiency via reverse stock split if necessary.
- Previous compliance period ended April 3, 2023; stock remains below $1.

## SEC filing metadata
- accession: 0001493152-23-011654
- form_type: 8-K
- ticker: FABC
- cik: 0001086745
- company_name: Fabric.AI, Inc.
- filed_at: 2023-04-10T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1086745/000149315223011654/0001493152-23-011654-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1086745/000149315223011654/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-011654
- JSON: https://secwatch.observer/filing/0001493152-23-011654.json
- Plain text: https://secwatch.observer/filing/0001493152-23-011654.txt

## Key facts
- Material Agreements
  Fabric.AI, Inc. terminated Master Procurement Agreement with Club Car LLC valued at Termination of exclusive right to sell AYRO 411 Fleet vehicles in North America; no termination pena (effective 2023-04-04).
  - Action: termination
  - Agreement: supply
  - Counterparty: Club Car LLC
  - Value: Termination of exclusive right to sell AYRO 411 Fleet vehicles in North America; no termination pena
  - Effective: 2023-04-04
  source text: Company”), entered into a master procurement agreement (the “MPA”) with Club Car LLC (“Club Car”). The MPA grants Club Car the exclusive right to sell the Company’s 411 and 411x vehicles (the “AYRO 411 Fleet”) in North
  evidence_url: https://www.sec.gov/Archives/edgar/data/1086745/000149315223011654/0001493152-23-011654-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.