8-K
filed July 17, 2026, 3:57 PM ET
CIK 0000842722
other material
confidence high
sentiment negative
materiality 0.95
Court appoints receiver for Fuse Science; company insolvent with $0 assets, $0 cash
Fuse Science, Inc.
- Court order June 17, 2026 appoints Peter D. Downey as Receiver; company has $0 assets and $0 cash per financial statements.
- Prior CEO Lei Zhang, President Meihua Xu, Secretary Minming Yang resigned/removed; Downey appointed Chairman, President, Treasurer; Irina Veselinovic Secretary and later CFO.
- Company faces $643,471 judgment from creditors; receiver authorized to take control of assets, investigate transfers, and wind down operations.
- Company intends to seek OTC Markets access restoration but no assurance of maintaining OTCID status.
- Receiver compensation at reasonable hourly rates subject to court approval; no employment agreements for new officers.
Featured in Daily 8-K Digest
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Minming Yang resigned as Company Secretary at Fuse Science, Inc..
- Action
- resigned
- Role
- Company Secretary
Exact text from the filing
the Company accepted the resignations or removals by court order of Lei Zhang as Chief Executive Officer and Executive Director, Meihua Xu as President and Treasurer, and Minming Yang as Company Secretary.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Irina Veselinovic was appointed as Secretary at Fuse Science, Inc..
- Action
- appointed
- Role
- Secretary
Exact text from the filing
and Irina Veselinovic was appointed Secretary of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Peter D. Downey was appointed as Chairman of the Board, President, Treasurer at Fuse Science, Inc..
- Action
- appointed
- Role
- Chairman of the Board, President, Treasurer
Exact text from the filing
Effective as of June 24, 2026, Peter D. Downey was appointed Chairman of the Board, President, and Treasurer of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Lei Zhang resigned as Chief Executive Officer and Executive Director at Fuse Science, Inc..
- Action
- resigned
- Role
- Chief Executive Officer and Executive Director
Exact text from the filing
the Company accepted the resignations or removals by court order of Lei Zhang as Chief Executive Officer and Executive Director
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Irina Veselinovic was appointed as Chief Financial Officer at Fuse Science, Inc..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
On June 29, 2026, Irina Veselinovic was further appointed Chief Financial Officer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Meihua Xu resigned as President and Treasurer at Fuse Science, Inc..
- Action
- resigned
- Role
- President and Treasurer
Exact text from the filing
the Company accepted the resignations or removals by court order of Lei Zhang as Chief Executive Officer and Executive Director, Meihua Xu as President and Treasurer, and Minming Yang as Company Secretary.
View on SEC.gov
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