DNA X, Inc.
For the period ended Dec 31, 2025. Filed Apr 15, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Apr 15, 2026
SONM$2.35+5.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 15. Exhibit and Financial Statement Schedules
The following documents are filed as part of this report:
| 1. | Financial Statements. The following - consolidated financial statements and related documents are filed as part of this report: |
| Financial Statements | Page |
|---|---|
| Report of Independent Registered Public Accounting Firm | F-1 |
| Consolidated Balance Sheets – At December 31, 2025 and 2024 | F-2 |
| Consolidated Statements of Operations – Years Ended December 31, 2025 and 2024 | F-3 |
| Consolidated Statements of Stockholders’ Equity – Years Ended December 31, 2025 and 2024 | F-4 |
| Consolidated Statements of Cash Flows – Years Ended December 31, 2025 and 2024 | F-5 |
| Notes to the Consolidated Financial Statements | F-6 to F-33 |
| 2. | Financial Statement Schedules. Schedules are omitted because they are not required or applicable, or the required information is included in the Financial Statements or related notes. |
| 3. | Exhibits. The Exhibits listed in the accompanying Exhibit Index are filed or incorporated by reference as part of, or furnished with, this report. |
Exhibit Index
| Exhibit · Incorporation by Reference | |||||
|---|---|---|---|---|---|
| Number | Exhibit Description | Form | File No. | Exhibit | Filing Date |
| 2.1+# | Asset Purchase Agreement, dated as of July 17, 2025, by and among the Company, Pace Car Acquisition LLC and Clay Crolius | 8-K | 001-38907 | 2.1 | July 22, 2025 |
| 2.2 | First Amendment to Asset Purchase Agreement, dated as of November 24, 2025, by and among the Company, Pace Car Acquisition LLC and Clay Crolius | 8-K | 001-38907 | 2.1 | November 26, 2025 |
| 3.1 | Amended and Restated Certificate of Incorporation of the Registrant | 8-K | 001-38907 | 3.1 | May 17, 2019 |
| 3.2 | Certificate of Amendment to the Amended and Restated Certificate of Incorporation, effective September 15, 2021 | 8-K | 001-38907 | 3.1 | September 15, 2021 |
| 3.3 | Certificate of Amendment to the Amended and Restated Certificate of Incorporation, effective July 17, 2024 | 8-K | 001-38907 | 3.1 | July 18, 2024 |
| 3.4 | Amended and Restated Bylaws of DNA X, Inc., as amended and restated as of June 14, 2024 | 8-K | 001-38907 | 3.1 | June 14, 2024 |
| 3.5 | Certificate of Amendment to the Amended and Restated Certificate of Incorporation of Sonim Technologies, Inc., effective October 16, 2025 (Increase in authorized shares from 100,000,000 to 1,000,000,000) | 8-K | 001-38907 | 3.1 | October 20, 2025 |
| 3.6 | Certificate of Amendment to the Amended and Restated Certificate of Incorporation, effective October 27, 2025 (Reverse Stock Split) | 8-K | 001-38907 | 3.1 | October 24, 2025 |
| 3.7 | Certificate of Designation of Rights, Preferences and Privileges of Series A Junior Participating Preferred Stock filed with the Secretary of State of the State of Delaware on April 21, 2025 | 8-K | 001-38907 | 3.1 | April 21, 2025 |
| 4.1 | Form of Common Stock Certificate of the Registrant | S-1/A | 333-230887 | 4.1 | April 29, 2019 |
| 4.2 | Form of Common Stock Purchase Warrant | 8-K | 001-38907 | 4.1 | April 29, 2024 |
| 4.3* | Description of the Registrant’s Securities | ||||
| 4.4 | Rights Agreement, dated as of April 21, 2025, by and between Sonim Technologies Inc. and Equiniti Trust Company, LLC, which includes the form Certificate of Designation as Exhibit A, the form of Right Certificate as Exhibit B, and the Summary of Rights to Purchase Preferred Shares as Exhibit C | 8-K | 001-38907 | 4.1 | April 21, 2025 |
| 4.5 | Form of Common Stock Purchase Warrant, dated as of May 12, 2025, issued by Sonim Technologies, Inc. to the purchasers named therein. | 8-K | 001-38907 | 4.1 | May 16, 2025 |
| 4.6 | Form of Placement Agent Warrant to Purchase Common Stock, issued on July 2, 2025 | 8-K | 001-38907 | 4.1 | July 2, 2025 |
| 4.7 | Convertible Promissory Note dated as of December 15, 2025 | 8-K | 001-38907 | 4.1 | December 18, 2025 |
| 10.5+# | Asset Purchase & Employee Transfer Agreement dated as of December 22, 2020, by and among DNA X, Inc. (India) Private Limited and Coforge Ltd. | 8-K | 001-38907 | 10.1 | December 29, 2020 |
| 10.6+# | ODM Services Agreement dated as of February 26, 2021, by and among DNA X, Inc. and FIH (Hong Kong) Limited | 8-K | 001-38907 | 10.1 | March 4, 2021 |
| 10.7† | Non-Employee Director Compensation Policy dated as of January 1, 2024 | 10-K | 001-38907 | 10.8 | March 27, 2024 |
| 10.8# | Subscription Agreement, dated as of April 13, 2022, by and between DNA X, Inc. and AJP Holding Company, LLC | 8-K | 001-38907 | 10.1 | April 14, 2022 |
| 10.9†# | Amended and restated letter agreement, dated as of December 8, 2023, by and between DNA X, Inc. and Clay Crolius | 8-K | 001-38907 | 10.2 | December 11, 2023 |
| 10.10 | Registration Rights Agreement, dated as of July 13, 2022, by and between DNA X, Inc. and AJP Holding Company, LLC | 8-K | 001-38907 | 10.5 | July 13, 2022 |
| 10.11† | First Amendment to Employment Agreement, dated as of April 15, 2025, by and between DNA X, Inc and Clay Crolius. | 8-K | 001-38907 | 10.1 | April 16, 2025 |
| 10.12† | Second Amendment to Employment Agreement, dated as of February 9, 2026, by and between DNA X, Inc and Clay Crolius. | 8-K | 001-38907 | 10.1 | February 10, 2026 |
| 10.13†# | Employment Agreement, dated as of October 16, 2025, by and between DNA X, Inc and Michael Mulica. | 8-K | 001-38907 | 10.1 | October 20, 2025 |
| 10.14† | First Amendment to Employment Agreement, dated as of February 9, 2026, by and between DNA X, Inc. and Michael Mulica. | 8-K | 001-38907 | 10.2 | February 10, 2026 |
| 10.15# | Subscription Agreement, dated as of April 29, 2024, by and between DNA X, Inc. and the purchaser named therein | 8-K | 001-38907 | 10.1 | April 29, 2024 |
| 10.16 | Registration Rights Agreement, dated as of April 29, 2024, by and between DNA X, Inc. and the purchaser named therein | 8-K | 001-38907 | 10.2 | April 29, 2024 |
| 10.17 | First Amendment to Registration Rights Agreement, dated as of June 2, 2024, by and between DNA X, Inc. and the investor named therein | 8-K | 001-38907 | 10.1 | June 4, 2024 |
| 10.18 | Lock-Up Agreement, dated as of April 29, 2024, by and between DNA X, Inc. and the purchaser named therein | 8-K | 001-38907 | 10.3 | April 29, 2024 |
| 10.19+ | Invoice Purchase Agreement, dated as of September 23, 2024, by and between DNA X, Inc. and LS DE LLC | 8-K | 001-38907 | 10.1 | September 27, 2024 |
| 10.20 | Note Purchase Agreement, dated as of February 21, 2025, by and between DNA X, Inc. and Streeterville Capital, LLC | 8-K | 001-38907 | 10.1 | February 21, 2025 |
| 10.21 | Form of Subscription Agreement, dated as of May 12, 2025, by and between Sonim Technologies, Inc. and the purchasers named therein | 8-K | 001-38907 | 10.1 | May 16, 2025 |
| 10.22 | Registration Rights Agreement, dated as of May 12, 2025, by and between Sonim Technologies, Inc. and the purchasers named therein | 8-K | 001-38907 | 10.2 | May 16, 2025 |
| 10.23 | Form of Securities Purchase Agreement dated as of July 1, 2025 | 8-K | 001-38907 | 10.1 | July 2, 2025 |
| 10.24# | Note Purchase Agreement, dated as of July 11, 2025, by and between Sonim Technologies, Inc. and Streeterville Capital, LLC | 8-K | 001-38907 | 10.1 | July 17, 2025 |
| 10.25# | Security Agreement, dated as of July 11, 2025, by and between Sonim Technologies, Inc. and Streeterville Capital, LLC | 8-K | 001-38907 | 10.2 | July 17, 2025 |
| 10.26# | Intellectual Property Security Agreement, dated as of July 11, 2025, by and between Sonim Technologies, Inc. and Streeterville Capital, LLC | 8-K | 001-38907 | 10.3 | July 17, 2025 |
| 10.27 | Factoring Agreement, dated as of August 7, 2025, by and between Sonim Technologies, Inc. and Tradewind GmbH | 8-K | 001-38907 | 10.1 | August 12, 2025 |
| 10.28 | Form of First Amendment to Subscription Agreement Amendment, dated as of August 7, 2025, by and between Sonim Technologies, Inc. and the Investors named therein | 8-K | 001-38907 | 10.2 | August 12, 2025 |
| 10.29 | Subscription Agreement Amendment, dated as of August 7, 2025, by and between Sonim Technologies, Inc. and the Investor named therein | 8-K | 001-38907 | 10.3 | August 12, 2025 |
| 10.30 | ChEF Purchase Agreement, dated as of September 29, 2025, by and between Sonim Technologies, Inc. and Chardan Capital Markets LLC | 8-K | 001-38907 | 10.1 | September 29, 2025 |
| 10.31 | Registration Rights Agreement dated as of September 29, 2025, by and between Sonim Technologies, Inc. and Chardan Capital Markets LLC | 8-K | 001-38907 | 10.2 | September 29, 2025 |
| 10.32# | Securities Purchase Agreement, dated as of December 15, 2025, by and between Sonim Technologies, Inc. and DNA Holdings Venture, Inc. | 8-K | 001-38907 | 10.1 | December 18, 2025 |
| 10.33# | Membership Interest Purchase Agreement, dated as of December 15, 2025, by and between Sonim Technologies, Inc. and DNA Holdings Venture, Inc. | 8-K | 001-38907 | 10.2 | December 18, 2025 |
| 10.34 | Exchange Agreement, dated as of December 16, 2025, by and between Sonim Technologies, Inc. and Streeterville Capital, LLC | 8-K | 001-38907 | 10.3 | December 18, 2025 |
| 19.1* | Insider Trading Policy | ||||
| 21.1* | Subsidiaries of the Registrant | ||||
| 23.1* | Consent of Independent Registered Public Accounting Firm | ||||
| 31.1* | Certification of Principal Executive Officer pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | ||||
| 31.2* | Certification of Principal Financial Officer pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | ||||
| 32.1** | Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as Adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | ||||
| 32.2** | Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as Adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | ||||
| 97.1 | DNA X, Inc. Clawback Policy for Incentive-based Compensation effective as of October 2, 2023 | 10-K | 001-38907 | 97.1 | March 27, 2024 |
| 101.INS* | Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document) | ||||
| 101.SCH* | Inline XBRL Taxonomy Extension Schema Document | ||||
| 101.CAL* | Inline XBRL Taxonomy Extension Calculation Linkbase Document | ||||
| 101.DEF* | Inline XBRL Taxonomy Extension Definition Linkbase Document | ||||
| 101.LAB* | Inline XBRL Taxonomy Extension Label Linkbase Document | ||||
| 101.PRE* | Inline XBRL Taxonomy Extension Presentation Linkbase Document | ||||
| 104* | Cover Page Interactive Data File (formatted as inline XBRL and Contained in Exhibit 101) | ||||
| * | Filed herewith |
|---|---|
| ** | Furnished herewith |
| † | Indicates a management contract or compensatory plan or arrangement |
| + | Portions of this exhibit have been redacted in compliance with Item 601(b)(10)(iv) of Regulation S-K. The Company agrees to furnish supplementally an unredacted copy of the exhibit to the SEC upon its request |
| # | Certain schedules and attachments have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish a copy of such schedules and attachments to the SEC upon its request |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.