American Fusion (OTC: AMFN), developer of the proprietary Texatron(TM) Fusion Engine(TM), has entered into agreements to restructure existing stock-based compensation rights with an aggregate maximum contractual amount of $2.88 million into Series C Convertible Preferred Stock. The agreements involve 12 officers, directors, consultants, and advisors and provide for the issuance of up to 288,000 Series C preferred shares, subject to applicable earning and exchange provisions. The company said the restructuring is part of a broader capital restructuring effort supporting its planned national securities exchange listing and institutional financing initiatives.
Simultaneously, American Fusion disclosed that JV CPA Inc. resigned as its independent registered public accounting firm effective Oct. 1, citing health reasons. The company reported no disagreements or reportable events in connection with the resignation. American Fusion is in the process of engaging PCAOB-registered MBP Global LLP as its successor auditor, subject to completion of the firm’s client acceptance and onboarding procedures.
The restructuring and auditor transition come as American Fusion advances its Texatron(TM) Fusion Engine(TM), a neutronic fusion platform designed for modular, infrastructure-grade deployment across industrial, commercial, and grid-constrained applications. The company emphasizes system-level engineering, disciplined intellectual property protection, and scalable architectures intended to support long-term commercial operation. For investors, the moves signal a focus on capital discipline and transparent corporate governance, which could enhance the company’s appeal to institutional investors and potentially facilitate a listing on a national securities exchange.
The conversion of stock-based compensation into preferred shares may simplify the company’s capital structure and reduce potential dilution from future stock awards, aligning the interests of insiders with long-term shareholders. Additionally, the engagement of a PCAOB-registered auditor is often a prerequisite for uplisting to a national exchange, as it ensures compliance with rigorous auditing standards. These steps are critical for American Fusion as it seeks to commercialize its fusion technology, a capital-intensive endeavor that requires significant investment.
To view the full press release, visit https://nnw.fm/EPthW. The latest news and updates relating to AMFN are available in the company’s newsroom at https://nnw.fm/AMFN.
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