M&A
confidence high
sentiment negative
materiality 0.80
Nomad Power closes reverse merger with NOMAD; target flags going-concern doubt, $8.4M 2025 loss
LIXTE BIOTECHNOLOGY HOLDINGS, INC.
- Merger closed July 1, 2026; NOMAD survives as wholly-owned subsidiary; Lixte renamed Nomad Power Solutions (NMAD).
- NOMAD 2025 revenue $9.35M (product sales $9.15M), up ~299% from $2.35M in 2024; net loss $8.4M.
- Auditors cite substantial doubt about going concern: $156K cash, $11.7M stockholders' deficit at 12/31/2025.
- June 16, 2026: $6.5M 15% secured note repaid bank loan; note applied to working capital; $9.0M remaining commitment funded at close.