Intelithrive, Inc. (ITHR) reports its semiannual results for the six months ended June 30, 2026, after pivoting in 2025 from lithium-ion battery packs to a next-generation incubator focused on artificial intelligence, software-as-a-service and digital innovation. The company generated $5,000 in consulting revenue and reduced general and administrative expenses to $13,585 from $44,729 a year earlier, narrowing the net loss from continuing operations to $13,585 from $44,729.
Liquidity remains constrained: current assets were $9,717 (including $5,967 in cash) against total liabilities of $32,949, driven by $30,000 of new, unsecured, non-interest-bearing notes payable due December 31, 2028 and a working capital deficit of $23,232. Management discloses substantial doubt about Intelithrive’s ability to continue as a going concern and is seeking to raise up to $1,000,000 through a private placement of common stock.
Intelithrive, Inc. reported the resignations of Chief Executive Officer Paul Ogorek and officer Sam Becherer, each effective June 15, 2026. Mr. Ogorek's resignation cites an ongoing dispute with the company's majority shareholder over transfers of 5,880,000 shares (approximately 57.42%) and 10,000,000 Series A preferred shares.
The filings state the contested transfers were made to Newton Companies under contractual arrangements Mr. Ogorek believes were not performed as agreed; the resignation letters are attached as exhibits. The report frames these events as governance and control disputes affecting the company's leadership.