Watch for the company to begin drawing on the ELOC, which will trigger immediate selling pressure as C/M Capital resells shares at a discount. Monitor for any further deterioration in the stock price below the $0.01 minimum price threshold, which would halt the company's ability to access the facility. The Series X Preferred Stock issued to the CEO (51% voting power on capitalization amendments) suggests a reverse stock split or authorized share increase may be imminent.
Executive Summary
Amaze Holdings filed an S-1 registration statement to register up to 50,000,000 shares for resale by C/M Capital Master Fund, LP, the selling stockholder under a new $100 million equity line of credit (ELOC) purchase agreement dated October 15, 2026. The company, which operates a creator-powered commerce platform, was recently delisted from NYSE American (effective October 12, 2026) and now trades on the OTC Pink. The ELOC provides potential funding at a 5% discount to market, but the massive potential dilution (up to 58% of current shares outstanding) and the company's distressed financial condition (material weaknesses, ~$5.3M debt, going-concern audit opinion) make this filing bearish for existing shareholders.
Key Facts
- Registers up to 50,000,000 shares for resale by C/M Capital Master Fund, LP under a new $100M ELOC purchase agreement dated October 15, 2026.
- Company was delisted from NYSE American effective October 12, 2026; now quoted on OTC Pink under symbol AMZE.
- As of October 15, 2026, there were 36,137,566 shares outstanding; the 50M registered shares represent ~58% dilution.
- The ELOC allows the company to sell shares at 95% of the lower of the 5-day VWAP or prior day's lowest price, with daily caps of $500K per Fixed Purchase and $2M aggregate VWAP purchases.
- A commitment fee of $2M was paid in Series F Preferred Stock (1M shares, convertible at $0.025/share into up to 80M common shares).
- As of September 30, 2026, the company had ~$5.3M in notes payable and other indebtedness.
- Auditor's report contains a going-concern explanatory paragraph; material weaknesses in internal controls have persisted since at least 2021.
- CEO Aaron Day departed July 31, 2026; Joel Krutz serves as Interim CEO and CFO.
Financial Impact
Up to $100M in gross proceeds possible under the ELOC, but actual proceeds depend on market price and company discretion. At the assumed $0.0175 per share (filing fee calculation), the 50M registered shares would yield only $875,000. The 5% discount pricing structure and massive potential dilution (58% of current shares) will pressure the stock price.
Risk Factors
- Massive dilution from the ELOC and conversion of Series F Preferred Stock (up to 80M additional shares) will severely dilute existing holders.
- The 5% discount pricing structure incentivizes the selling stockholder to sell quickly, creating persistent downward price pressure.
- Delisting from NYSE American and penny stock status severely limit liquidity and institutional investor access.
- Material weaknesses in internal controls and going-concern risk suggest potential for further financial distress or bankruptcy.
- High debt load (~$5.3M) with restrictive covenants limits financial flexibility.
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-1 Filing (Primary) | 0001493152-26-047417 |
| Exhibit: ex107.htm | 0001493152-26-047417 |
| Exhibit: ex5-1.htm | 0001493152-26-047417 |
| Exhibit: ex23-1.htm | 0001493152-26-047417 |
| Document: 0001493152-26-047417-index-headers.html | 0001493152-26-047417 |
| Document: 0001493152-26-047417-index.html | 0001493152-26-047417 |
| Document: 0001493152-26-047417.txt | 0001493152-26-047417 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | S-1 | $0.0746 $0.0746 | · 0.00% | ▼ −0.14% | $0.0105 (+85.92%) |
Oct 16, 2026 10d ago | 8-K | $0.0140 $0.0102 | ▲ +27.14% | ▲ +27.00% | $0.0105 (+25.00%) |
Oct 1, 2026 25d ago | 25-NSE | $0.0270 $0.0180 | ▲ +33.33% | ▲ +34.63% | $0.0105 (+61.11%) |
Aug 20, 2026 9w ago | 8-K | $0.1910 $0.1690 | ▼ −11.52% | ▼ −12.63% | $0.0105 (−94.50%) |
Aug 17, 2026 10w ago | Press Release | $0.2114 $0.1792 | ▼ −15.23% | ▼ −14.04% | $0.0105 (−95.03%) |
Jun 9, 2026 19w ago | DEFA14A | $0.1320 $0.1434 | ▲ +8.64% | ▲ +6.50% | $0.0105 (−92.05%) |
Jun 3, 2026 20w ago | Press Release | $1.15 $1.06 | ▼ −8.33% | ▼ −4.51% | $0.0105 (−99.09%) |
Apr 1, 2026 29w ago | Press Release | $0.1400 $0.1740 | ▲ +24.29% | ▲ +20.52% | $0.0105 (−92.50%) |
Mar 25, 2026 30w ago | Press Release | $0.2200 $0.1400 | ▼ −36.36% | ▼ −36.12% | $0.0105 (−95.23%) |
Feb 27, 2026 34w ago | EFFECT | $0.3410 $0.3320 | ▼ −2.64% | ▼ −0.66% | $0.0105 (−96.92%) |
US Market Status
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