Enlightify Inc SEC Filings

Enlightify Inc. (ENFY) reports a mixed first quarter amid severe listing risk. For the three months ended September 30, 2025, net sales were $14.5 million, down 16.7% year over year, as fertilizer volumes fell 28.4%. Despite lower revenue, cost cuts reduced selling and administrative expenses by over 60%, lifting the company to net income of $1.1 million, or $0.07 per share, versus a $1.8 million loss a year earlier. Gross margin edged up to 23.9%.

Cash and cash equivalents were $53.3 million and total assets $157.0 million, against total liabilities of $68.8 million and equity of $88.2 million. Operating activities used $1.3 million of cash, while capital spending was modest. After quarter-end, the NYSE moved to delist Enlightify for failing market-capitalization standards, and the company will trade on OTC Markets. The delisting, together with negative operating cash flow, raised substantial doubt about its ability to continue as a going concern.

Enlightify Inc. (ENFY) reported that the NYSE will commence proceedings to delist its common stock after determining the company no longer meets Section 802.01B, which requires an average global market capitalization of at least $15,000,000 over a consecutive 30 trading day period. Enlightify will not appeal the determination, and the NYSE is expected to file Form 25 with the SEC; the delisting becomes effective 10 days after that filing.

Following the delisting, the company expects its shares to be quoted on the OTC Markets under the ENFY ticker. Enlightify stated it intends to continue filing periodic reports under the Exchange Act and noted it remains committed to executing its business strategy and exploring strategic alternatives.

Enlightify Inc. announced a removal from listing and registration on the New York Stock Exchange via a Form 25 filing under Section 12(b) of the Exchange Act. The filing covers the company’s common stock and states that the Exchange has complied with its rules to strike the class from listing.

The notification was signed by the NYSE on 2025-10-27, indicating the Exchange’s certification that it meets the requirements to submit the Form 25.

Enlightify Inc. (ENFY) filed its annual report for the year ended June 30, 2025. The company reported revenue of $75,284,871 and a net loss of $(15,602,160). Fertilizer manufacturing remained the core business, generating $65,352,572, or 86.8% of total revenue. Total annual production capacity was 555,000 metric tons, and products were sold through 639 regional distributors across China; sales to the top five distributors accounted for approximately 21.4% of fertilizer revenue.

Enlightify develops 111 fertilizer products across humic acid and compound formulations, with R&D conducted through its VIE, Yuxing. The company also operates an agricultural products segment with $9,750,553 in revenue. In March 2023, it formed Antaeus Tech Inc. in Delaware to mine Bitcoin in Texas, adding a new business line. A planned acquisition of Lonestar Dream, Inc. was terminated via mutual rescission on June 13, 2025. The structure includes PRC subsidiaries and a VIE, which the company consolidates under U.S. GAAP and highlights as a distinct risk.

Enlightify Inc. preliminary proxy presents several material corporate actions for stockholder approval. The company seeks election of seven directors and approval to amend its 2023 Equity Incentive Plan. It asks shareholders to authorize the issuance of 20% or more of outstanding common stock pursuant to a Form S-1 offering (including warrants with 200% coverage). The company also proposes an amendment to effect a reverse stock split between 1-for-5 and 1-for-20 to be implemented at the Board's discretion within 24 months of approval. Director ownership schedules are disclosed, totaling 2,261,402 shares (14.23%)