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Azio AI signs $50M standby equity deal with Yorkville; $3.5M advance, 1.74M warrants at $0.01
Standby Equity Purchase Agreement dated Sept 25, 2026 lets Azio sell up to $50M of common stock to YA II PN, Ltd. (Yorkville) at 96-97% of market price until Sept 25, 2029.
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Azio AI acquisition target posts $54,445 loss since inception; auditors flag going-concern doubt
Net loss of $54,445 from Oct 7, 2025 inception through Dec 31, 2025; cash only $1,000 at year-end.
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Azio AI dismisses auditor Barton, appoints TAAD; going concern and material weakness noted
Dismissed Barton CPA, PLLC as independent auditor on Sept 3, 2026; appointed TAAD LLP on Sept 8, 2026.
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Azio AI (fka EVTV) completes name change, ticker to AZIO; signs $27.9M AI hosting deal
Name change to Azio AI Holdings, Inc. effective July 10, 2026; ticker changes to AZIO on July 13, 2026.
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EVTV completes merger with Azio AI; appoints new CEO and President, targets $487B AI infrastructure market
Merger with Azio AI closed July 2, 2026; consideration: 2,655,157 common shares and 973,450 convertible preferred shares for 100% of Azio AI.
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Envirotech Vehicles closes acquisition of Azio AI; issues 2.46M shares, 973K preferred; new CEO appointed
Acquired Azio AI in a stock-for-stock merger; issued 2,460,351 shares of common and 973,450 shares of Series A non-voting convertible preferred as consideration.
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EVTV enters definitive merger with Azio AI; existing stockholders to hold ~11%
EVTV will issue 100M shares to Azio AI stockholders; existing EVTV holders expected ~11% post-close.
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Envirotech Vehicles gets Nasdaq delisting notice for equity below $2.5M
Stockholders' equity fell below $2.5M as of Dec 31, 2025; fails Nasdaq Listing Rule 5550(b)(1).
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Envirotech Vehicles enters $11M debenture financing with YA II PN; $4M funded, warrants issued
First closing of $4M principal debentures at 96% of par; gross proceeds ~$10.5M after $25k fee.
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EVTV loses Nasdaq independence compliance, gets cure; regains annual meeting rule compliance
Director Melissa Barcellos resigned effective Feb 3, 2026, causing non-compliance with Nasdaq board independence and audit committee composition rules.
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Envirotech Vehicles gets Nasdaq delisting notice for missing annual meeting; meeting adjourned again
Received Nasdaq notice on Jan 15, 2026 for non-compliance with Listing Rule 5620(a) due to missing annual meeting within 12 months of fiscal year end.
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January 13, 2026, 6:59 PM ET
regulatory
materiality 0.65
positive
Envirotech Vehicles regains Nasdaq minimum equity compliance after share issuances and note repayment
Stockholders' equity now exceeds $2.5M minimum for continued listing on Nasdaq (was $1.862M at Sep 30, 2025).
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Envirotech Vehicles announces 1-for-10 reverse stock split effective Aug 6, 2025
Reverse stock split ratio set at 1-for-10; effective 5:00 p.m. ET on August 6, 2025.
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Envirotech Vehicles stockholders approve reverse stock split and share issuance to YA II PN
Reverse stock split authorized at ratio 1:5 to 1:10, board to set final ratio.
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Envirotech Vehicles receives Nasdaq delisting notice for bid price below $1
Nasdaq notified EVTV on March 6, 2025 that its stock bid price was below $1 for 30 consecutive business days.
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Envirotech Vehicles enters $5M convertible note financing; Note EVTV-1 maturity extended to 2026
Entered supplemental agreement for $5M additional prepaid advance under SEPA; first tranche $3M advanced (net ~$2.7M) on Feb 25, 2025.
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CFO Miller resigns effective immediately; President Maddox appointed Interim CFO
CFO William C. Miller resigned effective immediately on January 20, 2025.
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Envirotech Vehicles completes acquisition of Maddox Industries for 3.1M shares
Acquisition closed December 18, 2024; all membership interests in Maddox Industries purchased.
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Envirotech Vehicles enters A&R SEPA with YA II PN for $3M pre-paid advance and up to $25M equity commitment
$2M of $3M pre-paid advance disbursed Oct 31, 2024; remaining $1M after registration effective.
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Envirotech Vehicles acquires Maddox Industries for 3.1M shares plus up to $1M earnout
Acquisition of all membership interests of Maddox Industries, a Puerto Rico-based government contracting firm.
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Envirotech Vehicles signs $25M standby equity purchase agreement with YA II PN
Company may sell up to $25M in common stock (EVTV) at 96% or 97% of market price over 36 months.
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Envirotech Vehicles Q1 2024: Revenue up 55% to $810K; net loss widens to $4.5M ($0.29/share)
Revenue $810,490, up ~55% YoY from $523,199.
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Envirotech Vehicles auditor MaloneBailey resigns; Barton CPA appointed
MaloneBailey resigned Aug 8, 2023; did not complete FY2022 audit due to company's late 10-K filing.
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Envirotech Vehicles receives Nasdaq delisting notice for late 10-K; appoints new CFO
Nasdaq notified Envirotech on Apr 20, 2023, of non-compliance with Listing Rule 5250(c)(1) for failing to timely file Form 10-K for year ended Dec 31, 2022.
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Envirotech Vehicles to restate 2022 Q1-Q3 statements due to revenue recognition errors
Revenue was incorrectly recognized upon government incentive approval instead of vehicle delivery, overstating sales and gross profit.
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Envirotech Vehicles reports first-ever quarterly profit; revenue up 448% YoY to $3.88M
Net income of $126,749 ($0.01/share) vs. net loss of $850,475 ($0.06) in Q3 2021.
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Envirotech Vehicles Q2 2022 revenue surges 1,009% to $2.1M; net loss widens slightly
Sales of $2,087,700 in Q2 2022 vs $188,266 a year ago; delivered 21 vehicles vs 2 in prior year.