flooidCX Corp. SEC 10-K Report

Quantum Energy Corporation, formerly known as flooidCX Corp., has released its 2024 10-K report, showcasing significant financial growth and strategic pivots. The company, which has transitioned from customer-business communications to the development and sale of private electricity generating equipment, is now focused on revolutionizing distributed direct electrical energy systems with its advanced technologies.

Financial Highlights

• Revenue: $8.0 million, an increase from $6.5 million in 2023, primarily from the sale of Licensed Distributorships.
• Operating Income (loss): $1.392 million, a decrease from $6.016 million in 2023, due to increased operating expenses.
• Net Income (loss): $1.780 million, up from $0.794 million in 2023, driven by higher revenue and other income.
• Net Income (loss) Per Share: Basic $0.04, Diluted $0.03, reflecting the company's improved profitability.

Business Highlights

• Corporate History and Name Changes: The company, originally incorporated as Baixo Relocation Services, Inc. in 2014, has undergone several name changes, becoming Gripevine Inc. in 2016, flooidCX Corp. in 2019, and most recently, Quantum Energy Corporation in 2024, reflecting its strategic pivot towards energy solutions.
• Change in Control and Strategic Pivot: In July 2022, flooidCX Corp. experienced a change in control when MP Special Purpose Corp. acquired a significant ownership stake, leading to a strategic shift towards the development and sale of private electricity generating equipment.
• Business Operations and Technology: Quantum Energy Corporation focuses on distributed direct electrical energy systems with its exclusively licensed and patent-pending technologies, including Harvested and Thermal Electrical Energy Collection and Transmission (EET), Photon Lighting Systems, and other advanced energy solutions.
• Product Offerings: The company's product line includes EET technology, Photon Lighting Systems, Photovoltaic Systems, Thermal Energy Harvesting, Photon Engines, and energy storage systems, designed to enhance energy efficiency and sustainability.
• Market Opportunity: The demand for sustainable and efficient energy solutions is increasing due to global efforts to reduce carbon emissions and enhance energy security, positioning Quantum at the forefront of this market shift.
• Rare Earth and Magnet Involvement: Quantum is involved in the recycling and processing of rare earth materials, including magnets, essential for high-quality electrical devices.
• Marketing Strategies: The company employs a comprehensive marketing strategy focusing on technological innovations, sustainability credentials, and strategic partnerships.
• Future Outlook: Quantum plans to increase its installation fees and recurring revenue contracts significantly in 2025, with a focus on expanding its manufacturing capacity and market reach through customer and investor capital.
• Geographical Expansion: The company has begun installations in Arizona, Texas, Nevada, and Wyoming, and is negotiating additional distributorships in various U.S. states and international markets, including Canada and Mexico.
• New Product Launches: Quantum has introduced several new products, including the SAFEwatt ethernet power adapter and Photon Lighting Systems that transform lighting fixtures into energy generators.
• New Production Launches: The company has initiated Direct Energy System installations in multiple states, with plans to expand its production capabilities to meet growing demand.

Strategic Initiatives

• The company has focused on expanding its market presence through the sale of Licensed Distributorships, both exclusive and non-exclusive, generating significant revenue.
• Engaged in strategic partnerships and licensing agreements, such as the cross-license acquisition valued at $8.5 million, to enhance its technological capabilities.
• Actively pursuing new markets, evidenced by negotiations for additional distributorships in various U.S. states and international territories like Canada and Mexico.
• Managed its capital through the sale of distributor licenses, providing a steady revenue stream to cover operating expenses, and strategically managed its debt, with notes payable totaling approximately $6 million as of December 31, 2024.
• Plans to increase its installation fees and recurring revenue contracts significantly in 2025, with projections exceeding $150 million and $100 million, respectively.
• Anticipates improved liquidity as customer and investor capital becomes available, supporting its growth initiatives.
• Exploring new licensing opportunities in international markets, which could further enhance its revenue and market position.

Challenges and Risks

• The strategic pivot to the development and sale of private electricity generating equipment introduces operational risks associated with entering a new market segment.
• The focus on sustainable energy solutions and rare earth material recycling presents both opportunities and challenges in terms of market acceptance and technological execution.
• Significant increase in operating expenses due to ramp-up in operations, including increased advertising, wages, and research and development costs, which could impact profitability if revenue growth does not keep pace.
• Reliance on the sale of distributor licenses as the sole revenue stream presents a risk if market demand for these licenses declines.
• Limited liquidity and the ability to meet capital demands are contingent on securing customer or investor financing for installations.
• Limited plans to offer equity or take on additional debt, which could constrain the ability to respond to unforeseen financial challenges.
• Exposure to market risks related to fluctuating energy prices, regulatory changes, and technological advancements, with strategies to mitigate these risks including securing long-term contracts and focusing on proprietary technologies.

SEC Filing: flooidCX Corp. [ FLCX ] - 10-K - Oct. 30, 2025