FiEE, Inc.FIEE

FiEE, Inc. began life in 1977 as a WiFi and software-as-a-service shop, then pivoted in 2023 to a software-first model before rebranding in 2025 around IoT, connectivity and AI. In May 2026 the company filed an S-3 that quietly disclosed all current revenue is generated through its wholly owned subsidiary, FiEE (HK) Limited, incorporated in Hong Kong in March 2025. The filing is polite corporate prose; the accounting is unambiguous. (source: FiEE, Inc. S-3, https://www.sec.gov/Archives/edgar/data/1467761/000182912626005816/fieeinc_s3.htm)

The same S-3 revealed 808,942 shares of common stock available for future issuance, a suspiciously round number that reads more like a management desks placeholder than a disciplined capital plan. Within weeks, FiEE signed a placement agreement with Alliance Global Partners that hands the broker a 3.25% fee on any shares sold, a modest liquidity plug for a company whose latest quarterly revenue was $2.1 million and whose net cash from operations was $66,588. The optics stay glossy; the cash flow stays thin. (source: FiEE, Inc. Sales Agreement dated 2026-06-23, https://www.sec.gov/Archives/edgar/data/1467761/000182912626006781/fiee_ex10-1.htm)

FiEE’s 10-Q for the quarter ending 31 March 2026 reports $2.1 million in revenue, $351,516 in net income, diluted EPS of $0.02 on 10.4 million shares, operating income of $426,445, cash from operations of $66,588 and $518,047 of capex. The gap between the polished platform story and the actual cash register is now wide enough to park a drone. (source: FiEE, Inc. 10-Q for the period ending 2026-03-31, https://www.sec.gov/Archives/edgar/data/1467761/000000000026000123/0000000000-26-000123-index.htm)

The company’s balance sheet at 31 March 2026 shows $11.8 million in assets, $2.9 million in liabilities, $8.9 million in shareholders’ equity and $4.6 million in cash and equivalents. Research and development expense was $36,587, a figure so small it looks like a rounding error rather than a strategic investment. (source: FiEE, Inc. 10-Q for the period ending 2026-03-31, https://www.sec.gov/Archives/edgar/data/1467761/000000000026000123/000000000-26-000123-index.htm)

FiEE’s official site describes a multilingual digital brand operations platform powered by IoT, AI, KOL ecosystems and community-to-commerce lifecycles, but the only concrete evidence of customer traction is the $2.1 million revenue line and the 8-K/EFFECT filings that disclose director and officer transactions; no customer names, no contract sizes, no pipeline metrics are supplied. The product story is aspirational; the filings are factual. (source: FiEE official site, https://www.fiee.com; SEC EDGAR index, https://www.sec.gov/edgar/browse/?CIK=1467761)

For context, the SEC’s company facts API shows FiEE’s XBRL tags but no additional narrative detail; the submissions JSON lists routine filings but no surprises. The absence of segment, geographic or customer breakdowns in the 10-Q means the source requires readers to take management’s global platform narrative on trust until the next disclosure cycle. (source: SEC company facts JSON, https://data.sec.gov/api/xbrl/companyfacts/CIK0001467761.json; SEC submissions JSON, https://data.sec.gov/submissions/CIK0001467761.json)