AWM Investment Company, Inc., a Delaware corporation, reports beneficial ownership of 570,901 shares of Liberty Defense Holdings, Ltd. common stock, representing 9.9% of the class. The position combines common shares and pre-funded warrants held across several Special Situations funds advised by AWM.
AWM holds sole voting and dispositive power over all 570,901 shares, with no shared voting or dispositive authority. The pre-funded warrants are subject to a 9.99% Beneficial Ownership Blocker, limiting exercises so that total beneficial ownership does not exceed 9.99% of Liberty Defense’s outstanding common shares.
Liberty Defense Holdings Ltd. reported a leadership change, stating that Bryan Cunningham, President, left the company effective July 22, 2026 to return to his privacy and advocacy work. CEO Bill Frain thanked Cunningham for his contributions and wished him success in future endeavors.
The company does not plan to immediately fill the President position. Management emphasizes that Liberty Defense remains focused on its strategic priorities in AI-based concealed weapons detection and believes it is well-positioned, with a talented leadership team and a clear strategic direction in the security and detection market.
Liberty Defense Holdings Ltd. issued 23,306 common shares at a deemed price of $4.55 per share to a service provider, settling CAD$117,000 of indebtedness linked to its U.S. IPO and Nasdaq listing; this debt is now extinguished.
The new shares are subject to a statutory hold period of four months plus a day under applicable securities laws. The securities have not been registered under the U.S. Securities Act of 1933 and may only be offered or sold in the United States pursuant to an effective registration or a valid exemption.
Liberty Defense Holdings reported that its HEXWAVE™ screening system has been selected for deployment at a major U.S. international airport for aviation worker screening. The airport serves over 30 million passengers annually and ranks among the top 20 busiest in the United States.
HEXWAVE uses millimeter wave technology, advanced 3D imaging, and AI to detect concealed metallic and non-metallic threats, including liquid, plastic, and powder explosives and 3D‑printed weapons. The systems will be installed at worker screening checkpoints to support evolving TSA requirements, aiming to improve security, throughput, and the screening experience for aviation personnel.
The company also noted that CEO Bill Frain will join a webcast fireside chat at Maxim Group’s Defense Tech Virtual Conference on June 25, 2026, to discuss next‑generation defense technology solutions with investors.
Liberty Defense Holdings reported unaudited results for the three months ended March 31, 2026. Revenue was $919,421, down from $1,055,358 a year earlier, with HEXWAVE sales of $644,421 and TSA contract revenue of $275,000. Total cost of revenue was $898,331, leaving a small gross profit of $21,090 versus a prior gross loss. Operating expenses were $2,591,411, producing an operating loss of $2,570,321 and a net loss of $2,718,647 (loss per share $1.38, improved from $3.49). Cash was very limited at $22,409 against current liabilities of $9,483,506 and shareholders’ deficiency of $(4,501,298). The company discloses a material uncertainty that casts significant doubt on its ability to continue as a going concern and is relying on additional equity and debt financing, including financings of more than approximately $20 million around its U.S. IPO, to fund HEXWAVE commercialization and TSA HD-AIT development.
Liberty Defense Holdings filed a Form 6-K highlighting a new deployment of its HEXWAVE concealed weapons detection systems at LaGuardia Airport’s Terminal B, a high-traffic U.S. aviation hub. This installation supports workforce screening with frictionless, AI-driven security in a demanding airport environment.
The company also entered a Shares-for-Debt Transaction with a legal service provider, settling CAD$117,000 of past-services debt by issuing 23,306 common shares at a deemed price of CAD$5.02 per share, plus a cash payment of CAD$350,000. Closing depends on TSX Venture Exchange approval, and the shares will be subject to a four month and one day hold period under Canadian securities law.
Global Value Investment Corp. (GVIC) filed an initial Form 3 for Liberty Defense Holdings, Ltd.5,080 common shares1,183,585 common shares
Liberty Defense Holdings filed a Form 6-K to report the appointment of Will Hamilton to its Board of Directors. Hamilton is a seasoned capital markets professional with more than 20 years of experience in equity research and portfolio management focused on small-cap public companies.
He is a Partner and Portfolio Manager at Kestrel Merchant Partners and previously spent 10 years at Manatuck Hill Partners, with earlier roles at Granite Point Capital and on the sell-side at Sanders Morris Harris and Pershing. Liberty Defense develops AI-based, next-generation detection solutions for concealed weapons, including its HEXWAVE system licensed from MIT and additional millimeter wave-based body and shoe scanner technologies for high-traffic, security-sensitive locations.
Liberty Defense Holdings, Ltd. reports audited IFRS financial statements for 2025 showing a net loss of $14,132,177 and revenue of $1,498,328, mainly from HEXWAVE and contract work. Cash fell to $319,294, and the company ended the year with shareholders’ deficiency of $2,532,086.
Management highlights going concern uncertainty but notes that, as of April 29, 2026, Liberty completed an initial public offering totaling $19,999,925, which it believes will fund operations for the next twelve months.
Global Value Investment Corporation and affiliated individuals have disclosed a significant stake in Liberty Defense Holdings Ltd. They collectively report beneficial ownership of 1,188,665 common shares, or 21.01% of the company’s outstanding common stock, based on 5,657,941 shares following Liberty Defense’s initial public offering.
The group acquired these shares for an aggregate purchase price of approximately $5,343.693.85 using their investment capital, including possible margin borrowing. They state the investment is for general investment purposes but may buy more shares, sell shares, or seek changes in Liberty Defense’s operations, governance, or capital structure, and may engage directly with the board, management, and other shareholders.