Zrcn INC

ZRCN Inc. has amended its Certificate of Incorporation to reduce authorized common stock from 200 million to 25 million shares.

ZRCN Inc. has entered into a new $12.5 million senior secured revolving credit facility to refinance existing debt and provide working capital.

ZRCN Inc. received a Notice of Default from FGI Worldwide LLC for failing to meet an EBITDA covenant, risking debt acceleration and asset foreclosure.

ZRCN Inc. has entered into a forbearance agreement with its lender, FGI Worldwide LLC, to address existing defaults under its Revolving Credit Agreement, accepting revised terms including increased interest rates and new financial obligations.

ZRCN Inc. has received a Notice of Default from its lender, FGI Worldwide LLC, due to non-compliance with financial and non-financial covenants, primarily stemming from reduced revenues and duties on Chinese imports.

ZRCN Inc. has appointed Kreston, PC as its new independent registered public accounting firm, effective May 12, 2025.

ZRCN Inc. filed its Form 10-Q for the quarter ended December 31, 2025, detailing a decrease in cash, an increase in liabilities, and ongoing concerns about its ability to continue as a going concern, despite securing new financing.

ZRCN Inc. reports a net loss of $2.5 million for the six months ended September 30, 2025, amid significant tariff-related margin pressure and ongoing liquidity challenges.

ZRCN Inc. reports a slight decrease in revenue for the third quarter of fiscal year 2025 and acknowledges material weaknesses in internal control over financial reporting.

ZRCN Inc. reported a significant net loss of $2.9 million for fiscal year 2025 on decreased revenue, entering a forbearance agreement due to covenant non-compliance, raising substantial doubt about its going concern ability.