AIxCrypto funneled $12M to Faraday as cash fell 97%

AIxCrypto Holdings recorded a $12 million financing outflow tied to a purchase of Faraday Future securities as operating losses and digital-asset writedowns reduced its cash balance from $19.33 million at Dec. 31 to $577,328 at June 30. The company reported a $10.27 million net loss in the first half and used $7.94 million of cash for operating activities. The cash-flow statement also shows $2.11 million in proceeds from digital-asset sales.

The Faraday allocation was executed through Gold King Arthur Holding Limited and consisted of $500,000 of Class A common stock and $11.5 million of Series C preferred stock. AIxCrypto identifies Faraday Future as its controlling majority stockholder and describes the securities allocation as an internal arrangement rather than an external portfolio investment.

AIxCrypto’s digital-asset portfolio fell to a fair value of $5.21 million at June 30 from $10.25 million at year-end, and the company recorded a $2.93 million net loss on those assets during the half. Bitcoin accounted for roughly $2.70 million, about 52% of the digital-asset holdings. The company reported no outstanding borrowed debt, and current liabilities were $1.72 million at quarter-end.

The company has an announced common-stock purchase agreement that could provide up to $50 million, described as a maximum commitment rather than cash on hand. The facility would price purchases at 93% of a three-day volume-weighted average price, charge a 3% draw fee and cap issuance at 4,044,975 shares until shareholder approval. Draws cannot begin before the registration statement is effective and other conditions are met.

AIxCrypto launched its RoboShare robot-rental marketplace and website in June and, as of early August, was preparing a Los Angeles pilot. The company targeted initial marketplace activity in August and revenue in the third quarter, subject to operational readiness, execution and applicable revenue-recognition requirements. The company identified completed rentals, repeat marketplace use and reported revenue as forthcoming milestones.