Zone Frontier Inc. (ZONE) Form 8-K — Oct 14, 2026
$ZONEForm 8-KItems 1.01, 1.02, 2.01, 7.01, 9.01Filed Oct 14, 2026, 5:27 PM ET0001213900-26-109483Original filing
Zone Frontier Inc. (NYSE American: ZONE) completed the sale of its legacy aqueous ozone cleaning products business, including Irish subsidiary CleanCore Global Limited, to Sanzonate Holdings LLC for a $3.35 million secured promissory note at 6% interest, up to $2.25 million in earnouts, and a 5% equity stake in the buyer. The sale closed on October 7, 2026 and was signed and closed simultaneously. The buyer is controlled by Clayton Adams, a current Zone Frontier board member and former CEO, making this a related-party transaction.
Key figures
- Earnout Up To
- 2250000
- Total Assets
- 52507592
- Cash Position
- 15435213
- Pro Forma Cash
- 14597791
- Gross Proceeds
- $3.35M secured promissory note (non-cash)
- Purchase Price
- 3350000
- Gain on sale
- 885579
- Legacy fy26 loss
- $18 million
- Additional equity
- 2% more if buyer finances at $25M pre-money valuation
- Note installments
- ["$300,000 at 6 months","$850,000 at 12 months","$2,200,000 at 18 months"]
- Texas jv interest
- 99% capital interest
- Buyer equity received
- 5% membership interest in Sanzonate Holdings LLC
- Minnesota jv interest
- 79% membership interest
- Texas campus capacity
- initial 200 MW, potential >500 MW
- Cash transferred to buyer
- ~$844,000
- Treasury segment fy26 loss
- $156 million
- Annual cash burn eliminated
- ~$3M
- Fairness valuation of business
- $1.72M (Newbridge Securities)
- Digital assets held june 30 2026
- 33480376
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