Recent Updates — DVLT
Datavault AI's Audit Committee concluded that previously issued financial statements for the years ended December 31, 2025, and quarters ended March 31, June 30, and September 30, 2026, should no longer be relied upon. The restatement stems from a $150 million equity purchase with Scilex paid in Bitcoin that failed to meet digital asset recognition criteria under ASC 842. Consequently, the transaction is reclassified as a subscription receivable, reducing total assets by $8.1 million, $92.2 million, $57.1 million, and $49.0 million for the respective periods. The company also reassesses its going concern evaluation due to the loss of Bitcoin liquidity and potential internal control deficiencies. Datavault AI operates in the artificial intelligence sector.
Datavault AI appointed Jeffrey Tirman to its Board of Directors effective October 12, 2026, following his designation by NYIAX under terms of the completed acquisition agreement. The appointment coincides with the resignation of director Wendy Wilson, who stepped down to facilitate the board seat transition and is eligible for advisory compensation. Mr. Tirman, a shareholder holding 26 million shares and CEO of Elan d.o.o., received an initial annual cash fee of $60,000 and a restricted stock award of 125,000 shares subject to vesting schedules. Datavault AI is an artificial intelligence platform company providing data monetization, credentialing, and real-world asset tokenization services.
Datavault AI Inc. entered into Amendment No. 1 to its Convertible Promissory Note issued to Streeterville Capital, LLC. The amendment establishes a Nasdaq Floor Price of $0.0632 for the note's conversion calculation, which equals 20% of the Nasdaq Minimum Price determined immediately preceding the original issuance on August 18, 2026. This floor prevents any future adjustments to the fixed price from reducing it below this threshold. The principal amount of the note remains $25,030,000. Datavault AI Inc. operates in the artificial intelligence and data management industry.
Datavault AI appointed Christopher Hardt to its board of directors on October 2, 2026, effective immediately. Hardt was designated by NYIAX pursuant to the merger agreement governing Datavault's August 2026 acquisition of NYIAX. He will serve on the Audit Committee and Nominating and Corporate Governance Committee as an independent director and audit committee financial expert. Concurrently, former director Robert Tobias resigned in connection with the transaction and will serve as an advisor under a one-year contract paying $72,000 plus 120,000 restricted shares. Datavault AI operates an artificial intelligence platform for data monetization, credentialing, digital engagement, real-world asset tokenization, and spatial audio technologies.
Datavault AI Inc. received an extension from Nasdaq to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The company failed to meet the $1.00 per share threshold by its initial deadline of August 24, 2026. Nasdaq granted a 180-day extension, setting a new compliance deadline of February 22, 2027. The company may effect a reverse stock split if necessary to restore compliance. Failure to regain compliance by the second deadline could result in delisting. Datavault AI Inc. operates in the artificial intelligence and data management industry.
Datavault AI Inc. completed its acquisition of NYIAX, Inc., a contract management exchange and blockchain settlement infrastructure provider, on August 18, 2026. The transaction involved issuing approximately 74,800,629 shares of common stock to accredited investors at an exchange ratio of 1.41 shares per NYIAX share, alongside paying $494,859.29 in cash to unaccredited investors. Datavault AI will add two NYIAX-designated directors to its board and file a resale registration statement within 30 days. The acquisition integrates institutional-grade exchange technology and four issued U.S. patents into Datavault's platform for data monetization, credentialing, digital engagement, real-world asset tokenization, and spatial audio technologies.