Alternative Ballistics Corp. (ALBC) reported revenue of $300 for the six months ended June 30, 2026, versus $4,600 in the prior-year period. Net loss was $3,433,591, compared with $39,268,975. General and administrative expense fell to $1,180,474 from $38,658,630, primarily because of lower stock-based compensation. Results also included a noncash derivative loss of $1,676,135. Operating activities used $653,406, versus $754,939. Cash was $37,710 and accumulated deficit was $103,064,429 at June 30, 2026.
Management said substantial doubt exists about the company’s ability to continue as a going concern. It identified short-term material cash requirements of approximately $6.5 million and long-term requirements of approximately $12.0 million, with equity investments as the anticipated funding source.
On August 19, 2026, the company issued a secured convertible note with $165,000 principal for $150,000 gross proceeds, bearing 12% interest per annum and maturing August 19, 2027; it agreed to issue warrants for up to 166,667 shares at $5.00 per share. A charter amendment effective September 15, 2026 increased authorized common stock from 50,000,000 to 200,000,000 shares.