CitroTech Inc. (NYSE American: CITR) files for IPO — a Wyoming maker of sustainable fire inhibitor products moving into wildfire defense systems. This is a resale registration of ~8.07–8.15M shares by

The numbers tell a story: $30.7M net loss on just $1.95M revenue for the nine months ended Sept 30, 2025. Accumulated deficit sits at $107.1M, with ~$2.49M of debt as of Dec 31, 2025. Auditors carry a going concern warning. Use of proceeds: the company gets nothing from selling stockholders' shares. It may receive cash only if outstanding warrants are exercised — roughly $10.7M gross if all are exercised in cash. Risks stack up: losses since inception with no profitability in sight, Chairman Theodore Ralston controlling ~81% of voting power, and growth hinging entirely on expanding the customer base. Two preferred holders control ~99% of votes. Bottom line: a controlled, going-concern-stage company with minimal revenue and a resale filing — not fresh capital for growth. Watch warrant exercises and the Matrix Wildfire partnership for any real signal.

The numbers tell a story: $30.7M net loss on just $1.95M revenue for the nine months ended Sept 30, 2025. Accumulated deficit sits at $107.1M, with ~$2.49M of debt as of Dec 31, 2025. Auditors carry a