Brightline Interactive, Inc./NV common stock ownership reported by Allen Kronstadt totaled 213,750 shares, or 7.9% of the class. He reported sole voting power and sole dispositive power over 213,750 shares, with shared voting and shared dispositive power of zero.
Brightline Interactive, Inc. (BTLN) closed its previously announced private investment in public equity on October 1, 2026, receiving $1.25 million in gross proceeds. The investment involved units of common stock and warrants to purchase common stock.
Drone industry executive Dr. Allan Evans led the investment in his personal capacity; Brightline stated that his participation was not a corporate transaction with Unusual Machines. Net proceeds are intended to support continued development of SpatialCore and expansion into new markets and use cases. Brightline describes SpatialCore as an interoperability and operational context platform designed to give sensors, autonomous systems, digital twins and other real-world data sources a shared, AI-ready understanding of the physical world.
Brightline Interactive, Inc. (BTLN) refocused on SpatialCore, its platform for Physical AI, after divesting or winding down non-core businesses. Revenue from continuing operations was $322,979 for FY2026. Net loss was $16.63 million, compared with approximately $2.6 million in FY2025, and included a $10,557,600 goodwill impairment. Cash and cash equivalents were $3,147,333 at June 30, 2026; one customer accounted for 78% of FY2026 revenue. Management concluded substantial doubt exists about the company’s ability to continue as a going concern for at least 12 months from the financial statements’ issuance.
A Department of Defense SpatialCore contract was valued at $2+ million for delivery over 12 months, and the company’s Navy consortium agreement was extended through September 2027. Nasdaq staff determined to delist the common stock after it failed to meet the $1.00 minimum bid price requirement. A hearing request stayed suspension, and the shares remained listed pending the hearing outcome. A 1-for-8 reverse split took effect September 28, 2026.
Brightline Interactive, Inc. (BTLN) entered into securities purchase agreements to sell 1,785,711 units at $0.70 per unit, with stated gross proceeds of $1.25 million. Each unit includes one common share and one warrant exercisable for one share at $2.00. Closing is anticipated on September 25, 2026, subject to customary closing conditions. The company intends to use net proceeds for current and future growth initiatives and general working capital.
The warrants are exercisable from issuance and expire five years from closing. Their exercise price will adjust for the previously announced 8-for-1 stock split effective September 28, 2026, to $16.00 per post-split share; the adjusted call price will be $24.00. The company may redeem outstanding warrants if the common stock’s volume-weighted average price exceeds the call price for five consecutive trading days, subject to warrant conditions. A holder cannot exercise any portion if it and its affiliates would beneficially own more than 4.99% immediately after exercise, or 9.99% if the holder elects that limit.
Brightline Interactive, Inc. (BTLN) will effect a 1-for-8 reverse stock split of its authorized and outstanding common stock at 12:01 a.m. Eastern Time on September 28, 2026; shares are expected to begin post-split trading at market open that day under BTLN. The board approved the split on September 13, 2026, without stockholder approval. Every eight shares will combine into one; fractional shares will be rounded up at the Depository Trust Company participant level. The company says percentage ownership will remain unchanged apart from the nominal effect of fractional-share treatment. Authorized shares, warrant exercise prices and shares, equity-plan reserves and outstanding awards will be adjusted proportionately, while par value remains $0.001 per share.
Brightline says the split is intended to regain compliance with Nasdaq's $1.00 minimum bid-price requirement. Nasdaq issued a Staff Determination to delist on September 11, 2026, after the company did not regain compliance within the 180-day grace period following 30 consecutive business days below the minimum bid price. Brightline's hearing request stayed the determination. Regaining compliance depends on market trading, and the company says there is no assurance it will do so before its hearing or at all.
Glimpse Group, Inc. (BTLN), through its subsidiary Brightline Interactive, Inc., reports that on September 11, 2026 it received a Nasdaq staff determination to delist its common stock for failure to meet Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of at least $1.00 per share. The bid price had been below $1.00 for 30 consecutive business days, and the company did not regain compliance by the 180‑day grace period ending September 9, 2026. The company plans to timely request a hearing before a Nasdaq Hearings Panel, which would stay suspension and filing of a Form 25‑NSE and keep the stock listed pending a written decision, but there is no assurance that continued listing will be granted.