AMAZE HOLDINGS, INC. Annual Report Summary

I’ve put together this guide to help you understand Amaze Holdings’ performance. My goal is to cut through the corporate jargon so you can decide if this company fits your portfolio.

1. What does this company do?

Amaze Holdings runs a platform for digital creators. They offer software that helps creators build online stores, manage inventory, and process payments. Following a merger in March 2025, the company divested its wine business to focus entirely on this software platform. They generate revenue through monthly subscription fees and commissions on creator sales. For the year ending December 31, 2025, the company reported $1.2 million in revenue, reflecting its early-stage status in the tech sector.

2. Financial Health: The "Going Concern" Warning

The company is in a fragile financial position. They reported a loss of $8.4 million in 2025. Management has explicitly warned that these ongoing losses and negative cash flow raise serious doubts about their ability to continue as a going concern.

The "Safety Net": With less than $800,000 in cash reserves at the end of 2025 and a monthly burn rate of $500,000 to $600,000, the company has less than six months of runway unless they secure additional funding. To date, they have relied heavily on issuing new stock and taking on debt to maintain operations.

3. Major Wins and Challenges

• The Big Pivot: The transition from wine to software eliminates physical inventory management but introduces high customer acquisition costs, which is typical for early-stage tech firms.
• Dilution Risk: To fund operations and pay off debts, the company has issued a significant amount of new stock. As of March 2026, there are 42.5 million shares outstanding. This increase in share count reduces the ownership percentage of existing shareholders.
• Operational Risks: The business model relies on the creator economy. Changes to the rules or algorithms of social media platforms, such as Instagram or TikTok, could restrict the traffic driven to creator stores, directly impacting the company’s primary revenue stream.

4. Key Risks

• Survival: The "going concern" warning indicates a high risk of bankruptcy within the next year without a rapid path to profitability or a substantial capital injection.
• Debt Load: The company carries approximately $3.5 million in convertible debt. These loans feature high interest rates and allow lenders to convert debt into equity at a discount, which creates downward pressure on the stock price and further dilutes current investors.
• Economic Sensitivity: Creators depend on third-party shipping and manufacturing services. If inflation increases these costs, creators may see lower margins or reduced sales, which in turn lowers the commissions Amaze collects.

5. Future Outlook

Amaze is currently in survival mode. Their stated goal for 2026 is to reach 5,000 active, high-volume creators to achieve break-even status. This is a high-risk, speculative investment. Prospective investors should monitor the company's monthly cash burn and their ability to retain creators. Until the company demonstrates consistent profitability, they will likely continue to issue new shares to fund operations, which will continue to impact the value of existing holdings.

Investor Note: Before investing, ask yourself if you are comfortable with the high probability of further share dilution and the company's current liquidity crisis. This is a "wait-and-see" situation where the primary goal for the company is simply to stay in business.