American Fusion Posts a Third-Quarter Net Loss of 1,436,076 Dollars: Year-to-Date Financing of 1,551,000 Dollars and a Stockholders' Deficit Narrowed by 34 Percent to 1,101,020 Dollars, Released November 13
American Fusion Inc. (OTCQB: AMFN), developer of the proprietary Texatron Fusion Engine, announced in Southlake, Texas on November 13, 2026 the filing of its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, and highlighted financial, operational and corporate progress during the quarter and in recent weeks.
The company generated no revenue in the third quarter and posted a net loss of 1,436,076 dollars. For the first nine months, revenue was 58,000 dollars and the net loss was 2,800,078 dollars. Third-quarter operating expenses were 1,399,778 dollars, of which 764,752 dollars, approximately 55 percent, was non-cash stock-based compensation. Research and development expense was 112,195 dollars for the quarter and 243,538 dollars for the nine months.
Net cash provided by financing activities was 1,551,000 dollars for the nine months, consisting of 1,071,000 dollars from the company's fixed-price prepaid warrant facility and 480,000 dollars from the sale of equity units to third-party investors. Prepaid warrant funding in the third quarter alone totaled 446,000 dollars.
Total assets increased to 372,313 dollars, from 196,683 dollars at June 30, 2026. Total liabilities declined approximately 21 percent to 1,473,333 dollars, from 1,856,662 dollars, and the total stockholders' deficit improved 34 percent, to negative 1,101,020 dollars from negative 1,659,980 dollars. Effective September 30, 2026, twelve officers, directors, consultants and advisors exchanged 986,958 dollars of accrued compensation obligations for newly designated Series C Convertible Preferred Stock.
On leadership, Brent Nelson, Executive Chairman since March 1, 2026, was appointed Chief Executive Officer on October 26, 2026 and continues as Chairman, while former chief executive Richard C. Hawkins was appointed Chief Administrative Officer. The company's filings disclose substantial doubt about its ability to continue as a going concern, and state that the Texatron platform has not demonstrated fusion ignition, net energy gain or commercial electrical generation.
Source: American Fusion Inc
Published by GSM · USA (original Chinese edition)
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