Highest-materiality recent filing
Functional Brands' acquisition of BullionFX's Alchemy platform terminated by seller
Seller BullionFX terminated Asset Purchase Agreement on June 29, 2026.
Functional Brands receives Nasdaq delisting notice; stock to suspend June 16
Closing bid price fell to $0.10 or less for ten consecutive days through June 8, 2026.
Shareholders approve reverse stock split up to 1:250; 2026 equity plan also OK'd
Special meeting held June 1, 2026; quorum 35.93% (7,874,310 of 21,912,868 shares).
Tariq Rahim resigned as board member and CFO effective May 17-18, 2026; transitioned to VP, Finance with no disagreement.
Functional Brands to acquire BullionFX's Alchemy gold-backed DeFi platform for $142.9M in stock
Transaction valued at $142.9M paid in 100,000 shares of new Series D Preferred Stock; conversion to common (98.28% of outstanding) requires stockholder approval.
Tariq Rahim resigned from Board effective May 17, 2026; transitioned from CFO to VP Finance on May 18, 2026.
All-stock transaction valued at approximately $142.9 million for BullionFX's Alchemy platform and IP.
Functional Brands Q1 revenue up 3.5% to $1.65M; net loss $7.0M on $6.3M equity exchange charge
Revenue $1.65M (+3.5% YoY); gross margin improved 390bps to 58.4%.
Functional Brands signs binding LOI to acquire BullionFX assets for $142.9M in stock
Will acquire Alchemy blockchain infrastructure and related assets from BullionFX Ltd.
Functional Brands reduces Series C conversion price to $0.1636; waives below-price prohibition
Conversion price for Series C Preferred reduced to $0.1636/share, replacing tiered structure.
Functional Brands exchanges Series A/B pref for $6M Series C, notes, cash, stock
Exchange of Series A (80% of stated value) and Series B (100%) for aggregate $8.378M assigned value.
Functional Brands receives Nasdaq deficiency notice for bid price below $1.00
Received Nasdaq letter on Dec 30, 2025; closing bid price below $1 for 30 consecutive business days.
Functional Brands closes $8M preferred stock private placement and Nasdaq direct listing
Closed private placement of 100,000 Series A and 80,000 Series B convertible preferred shares for gross proceeds of $8M.
effective May 18, 2026, David R. Wells was appointed as a member of the Company’s Board and as the Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer of the Company
On May 17, 2026, Tariq Rahim submitted his letter of resignation as a member of the Board of Directors (“Board”) of Functional Brands Inc. (the “Company”), effective immediately.
effective May 18, 2026, David R. Wells was appointed as a member of the Company’s Board and as the Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer of the Company
Effective May 18, 2026, Mr. Rahim also ceased serving as the Company’s Chief Financial Officer and transitioned to the role of Vice President, Finance, a non-executive officer position.
In connection with Mr. Rahim’s resignation from the Board and transition from his Chief Financial Officer role, effective May 18, 2026, David R. Wells was appointed as a member of the Company’s Board and as the Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer of the Company pursuant to a unanimous written consent approved by the Board on May 19, 2026.
In connection with Mr. Rahim’s resignation from the Board and transition from his Chief Financial Officer role, effective May 18, 2026, David R. Wells was appointed as a member of the Company’s Board and as the Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer of the Company pursuant to a unanimous written consent approved by the Board on May 19, 2026.
On May 17, 2026, Tariq Rahim submitted his letter of resignation as a member of the Board of Directors (“Board”) of Functional Brands Inc. (the “Company”), effective immediately.
Effective May 18, 2026, Mr. Rahim also ceased serving as the Company’s Chief Financial Officer and transitioned to the role of Vice President, Finance, a non-executive officer position.
Max materiality 0.85 · Median 0.62 · Most common event other_material