DFCO: 8-K · material agreement
Dalrada Technology Group (OTC: DHTI) entered a Settlement Agreement with IBS Equity Fund III and IBS Private Credit Fund IV on October 2, 2026, resolving disputed default notices that had demanded approximately $1,162,246. Under the settlement, Dalrada paid a single lump sum of $20,000 — the sole consideration owed — in exchange for full termination of all Project RX financing documents, cancellation of the secured promissory note and pre-funded warrant, release of all liens and pledges, and withdrawal of all asserted defaults, accelerations, and the audit demand. Notably, the settlement releases CEO Brian Bonar's personal guaranty and the company's corporate guaranty, and IBS confirmed it holds no equity, warrants, or options in Dalrada or its Genefic subsidiaries. A UCC termination statement was filed in Wyoming on October 5, 2026, and the parties exchanged mutual releases without admission of liability.
DFCO: 8-K · debt financing
IBS Equity Fund III and IBS Private Credit Fund IV declared events of default against Dalrada's subsidiary Genefic and terminated the never-funded financing agreements, with notices delivered September 15-16, 2026. IBS demands $1,162,246 in fees, ledger losses, early termination charges and a Note acceleration, plus an additional $875,000 in collateral, and reserved remedies including control of deposit accounts and foreclosure on pledged equity. Dalrada disputes the defaults, noting IBS never provided any funding, issued no letters of credit, and the Company received no cash proceeds for the Note or Warrant; it intends to vigorously defend. However, the Company concedes an adverse outcome could materially harm liquidity and could cross-default other indebtedness, and CEO Brian Bonar faces exposure under a personal guaranty.
DFCO: 10-Q · periodic report
Dalrada Technology Group reported a net loss of $14.8 million for the nine months ended March 31, 2026, with revenues declining 27.6% year-over-year to $9.9 million. The company disclosed a working capital deficit of $19.9 million and cash reserves of only $411,932, raising substantial doubt about its ability to continue as a going concern. Management identified a material weakness in internal controls over financial reporting, citing deficiencies in preparing adequate schedules and revenue recognition across consolidated entities. The company is currently engaged in multiple litigation matters, including a breach of contract suit by Asset Group Inc. for $3.2 million and fraud allegations against former seller Stuart Cox. In a subsequent event, Dalrada entered into a $450,000 revenue purchase agreement with Spring Funding HC LLC, which includes a 19.6% purchase rate. The company continues to rely on related-party funding and equity issuances to sustain operations amid ongoing losses and liquidity constraints.
DFCO: NT 10-Q · late filing
Dalrada Technology Group, Inc. filed a Form 12b-25 notification stating it cannot file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, by the prescribed deadline. The company cites the need for additional time to compile and analyze information, prepare financial statements, and finalize disclosures, as well as to allow for review by its independent registered public accounting firm. Dalrada expects to file the report no later than the fifth calendar day following the original due date, in accordance with Rule 12b-25. The filing was signed by CEO Brian Bonar on May 18, 2026.
