ABQQ: 10-Q · periodic report
AI Era Corp. reported a 103% year-over-year increase in revenue to $7.17 million for the nine months ended May 31, 2026, driven primarily by new AI-related licensing streams. However, the company swung to a net loss of $1.73 million compared to a small profit in the prior year, and management raised substantial doubt about the company’s ability to continue as a going concern due to limited cash and a working capital deficit of $6.9 million. The filing reveals significant instability at the executive level, with Chief Executive Officer Dr. Ahmad Moradi resigning on May 7, 2026, and Chief Financial Officer Dzmitry Kastahorau resigning shortly after on June 3, 2026. These departures coincide with a completed 1-for-2,000 reverse stock split implemented in December 2025 and a non-cash repurchase of 46.2% of the company’s outstanding common stock from a related party. To address liquidity issues, the company entered a $30 million equity purchase agreement with Monroe Street Capital Partners and completed a $1.2 million acquisition of an advanced multi-agent content engine to enhance its Ufilm platform. Despite these moves, the financial statements highlight an accumulated deficit of $12.1 million and continued reliance on external financing and stockholder support to fund operations.
ABQQ: 8-K · leadership change
AI Era Corp. has appointed Chiyuan Deng, also known as Fred Deng, to the roles of Interim Chief Executive Officer and Interim Chief Financial Officer, effective July 17, 2026. Mr. Deng was already serving as the Company's President and sole director. He will continue in these capacities under the terms of his existing Employment Agreement dated March 1, 2026, with no new material arrangements or amendments entered into in connection with this appointment.
ABQQ: NT 10-Q · late filing
AI Era Corp. filed a Form NT 10-Q notifying the SEC that it could not file its quarterly report for the period ended May 31, 2026, on the prescribed due date. The company stated that it was unable, without unreasonable effort or expense, to timely compile all information for the financial statements and related disclosures required for the report. AI Era Corp. expects to file the Form 10-Q on or before July 20, 2026.
AI Era Corp. announced the appointment of Mark Iwanowski as Vice Chairman in a non-executive, advisory capacity, effective June 12, 2026. The agreement explicitly states that Iwanowski is not a member of the Board of Directors nor an officer of the company for SEC purposes, serving instead as an independent contractor and strategic advisor to the Chairman. Iwanowski, a Partner at Pegasus Tech Ventures and former Oracle executive, will receive no cash compensation. His compensation consists of non-qualified stock options with an aggregate grant date fair value of $150,000 annually, vesting over 12 months, plus potential performance-based options tied to new client revenue. The appointment leverages Iwanowski’s extensive background in technology and IT strategy, including his tenure at Oracle where he helped transition the company to SaaS and integrated $20 billion in acquisitions. The role focuses on strategic planning, brand positioning, and identifying potential partners and investors for AI Era’s media initiatives.
AI Era Corp. announced the immediate resignation of Dzmitry Kastahorau as Chief Financial Officer, effective June 3, 2026. The company stated that the departure was not the result of any disagreement regarding operations, policies, or practices. No successor was named in this filing, leaving the CFO position vacant and raising questions about near-term financial reporting stability.
ABQQ: 8-K · material agreement
AI Era Corp. entered into a Securities Purchase Agreement with Lambda Ventures, LLC, issuing a convertible promissory note with a principal amount of $51,500, which includes a $1,500 original issue discount, for a purchase price of $50,000. The buyer withheld $5,000 from the purchase price to cover its legal fees, resulting in net proceeds of $45,000. The Note bears interest at a rate of 10% per annum and matures twelve months from the April 28, 2026 issue date. Proceeds are designated for expenses related to the company's SaaS Artificial Intelligence build-out, and the Note is convertible into common stock at a conversion price equal to 80% of the lowest traded price during the twenty trading days prior to conversion.
