---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-022707"
form_type: "8-K/A"
ticker: "AIFC"
cik: "0000862861"
company_name: "AI Financial Corp"
filed_at: "2024-06-05T23:59:59+00:00"
generated_at: "2026-06-01T06:24:40.249006+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# JanOne acquisition target Alt 5 Sigma reports 2023 net profit but auditor flags going concern

## Summary
- Alt 5 Sigma 2023 net profit $3.36M, revenue $11.97M (up 31% YoY); diluted EPS $0.13.
- Auditor's report raises substantial doubt about going concern due to working capital deficit of $4.4M and negative equity.
- Operating cash flow improved to $6.86M in 2023 from -$1.68M in 2022; stock-based comp fell to $0.
- Fair value loss on digital assets was $445k in 2023 vs $4.5M gain in 2022, impacting net income.
- Acquisition closed May 2024; financial statements and pro forma adjustments now filed via 8-K/A.

## SEC filing metadata
- accession: 0001493152-24-022707
- form_type: 8-K/A
- ticker: AIFC
- cik: 0000862861
- company_name: AI Financial Corp
- filed_at: 2024-06-05T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/862861/000149315224022707/0001493152-24-022707-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/862861/000149315224022707/form8-ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-022707
- JSON: https://secwatch.observer/filing/0001493152-24-022707.json
- Plain text: https://secwatch.observer/filing/0001493152-24-022707.txt

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