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Damon Inc. (DMNIF) is an early-stage electric motorcycle and personal mobility company that reports continued operating losses and material financing and integration activity. The company recorded revenue of $115,342 and reported a net loss of $5,350,662 for the year, compared with a net loss of $33,968,248 in the prior year. Management disclosed a $14,045,955 goodwill balance with related impairments of intangible assets and other impairment charges recorded in the period. Damon completed a reverse stock split and recapitalization, leaving 19,603,815 common shares outstanding as of June 30, 2025, and its common shares trade on the OTCID Basic Market under DMNIF.
Product development programs are ongoing: the HyperDrive platform (expected engineering completion by Q4 FY2026) has $1.6 million budgeted for the next 12 months; HyperSport has an estimated $24 million budget for the next 24 months and pre-production targeted between Q4 FY2026 and Q3 FY2027; smaller programs (HyperFighter, HyperLite) have specified timelines and smaller near-term budgets. The company discloses significant financing arrangements, including a Streeterville secured note with outstanding principal and related discounts and a WSGR promissory note in default but planned repayment by May 31, 2026.
Damon Inc. is conducting a best-efforts securities offering that contributes to an aggregate Rule 251(a) offering value of approximately $73,200,000, composed of about $28,749,500 in expected cash proceeds to the company, an estimated $1,850,500 maximum in broker compensation, and the notional value of Bonus Shares, Warrants and Bonus Warrants. The offering assumes a unit price of $0.10 and contemplates bonus-unit incentives for larger investments.
Shares outstanding increase from 19,603,815 pre-offering to 319,603,815 post-offering (or 349,603,815 if maximum Bonus Shares issued). Stated uses of net proceeds include repayment of the Streeterville June 2024 Note, research & development, marketing and sales, and working capital. The filing lists extensive risk factors including a history of losses, Nasdaq delisting and OTC trading, potential going-concern risk, substantial dilution from warrants and other convertible instruments, and significant dependence on manufacturing, suppliers and capital raises.
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