AI Financial Corp., (NASDAQ:AIFC), previously known as Alt5 Sigma, has reported an improved outlook despite suffering significant losses from a billion-dollar investment in a Trump-endorsed cryptocurrency.
On Wednesday, the company disclosed in a Securities and Exchange Commission filing that the issues that led to its previous warnings to investors "have been substantially mitigated." The company said it has enough liquidity and financial resources to support operations and meet its obligations for at least the next 12 months.
In August, the company, then known as Alt5 Sigma, entered into a $1.5 billion deal with the Trump family-backed World Liberty Financial (WLFI).
Since then, AI Financial Corp's stock has plunged over 92% from $8.97 on the deal date to $0.65, as of Wednesday's close, as per data from Benzinga Pro.
To remain listed on Nasdaq, AI Financial must sustain a share price above $1.
