Home / Going-concern warnings / Elauwit Connection, Inc.
Filed 2025-12-10 路 Form 10-Q 路 Accession 0001104659-25-119949 nano
Price before filing: $6.71 (2025-12-09 close, split/dividend-adjusted)
Market cap at flag: $32.6M (2025-12-10) 路 Latest: $36.7M (2026-10-16)
| Window | ELWT | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -29.8% | +1.9% | -31.7% | 2026-01-09 |
| 90 days | +0.4% | -0.6% | +1.0% | 2026-03-10 |
| 180 days | -0.9% | +8.8% | -9.7% | 2026-06-08 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: no open-market insider sales or purchases reported.
30 days after: 3 insiders bought $55K (3 purchases)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-12-10: red flag filed | |||||||
| 2025-12-11 | Berk Frederick R. Director | Purchase | 1,000 | $6.50 | $6K | no | Form 4 |
| 2025-12-11 | McDonough Daniel JR Executive Chairman, Director, 10% owner | Purchase | 5,000 | $6.50 | $32K | no | Form 4 |
| 2025-12-11 | RUBENS BARRY R Chief Executive Officer, Director, 10% owner | Purchase | 2,500 | $6.59 | $16K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-09-11 to 2026-01-09. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As of September 30, 2025, these conditions raised substantial doubt about the Company's ability to continue as a going concern for a period of one year from the date these financial statements were issued. 8 Table of Contents On November 6, 2025, the Company closed its initial public offering, raising gross proceeds of approximately $ 15.0 million."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-09-30)
Why this score: quarterly (unaudited) disclosure; also within 90 days: Non-reliance / restatement
Read the original filing on SEC.gov →
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Not investment advice. Automated summary; verify against the filing.
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