FiEE Inc 2025年度报告

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller Accelerated filer☐Smaller reporting company☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the If securities are registered pursuant to Section12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant, based on theclosing price of the shares of the registrant’s common stock, $0.01 par value (“common stock”) on the Nasdaq Capital Market on The number of shares outstanding of the registrant’s common stock as of March16, 2026 was 7,934,122 shares. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement for the 2026 Annual Meeting of Stockholders, which is to be filed nolater than 120 days after December 31, 2025, are incorporated by reference into Part III of this Form 10-K. TABLE OF CONTENTS PART I PART II PART III PART IV SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this “Annual Report” or “Form 10-K”), including the information contained in“Management’s Discussion and Analysis of Financial Condition and Results of Operations,” as well as information contained in“Risk Factors” in Item 1A and elsewhere in this Annual Report, contains “forward-looking statements” within the meaning ofSection27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section21E of the Securities Exchange Act of 1934,as amended (the “Exchange Act”). We intend that these forward-looking statements be subject to the safe harbor created by thoseprovisions. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “could,” “would,”“expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “predicts,” “potential” and similar expressions intended toidentify forward-looking statements. These statements are only predictions and involve known and unknown risks, to continue as agoing concern uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be ●our ability to meet listing requirements for The Nasdaq Stock Market LLC (“Nasdaq”), including the ability to satisfy thecontinued listing criteria of the Nasdaq; ●our ability to predict revenue and reduce costs related to our products or service offerings; ●general economic, financial market, and industry conditions; ●changes in laws, regulations, or regulatory enforcement priorities; ●competitive pressures and changes in market demand; ●our ability to execute our strategic initiatives and achieve anticipated benefits; ●operational risks, including technology and cybersecurity risks; ●risks related to acquisitions, dispositions, or other strategic transactions; ●supply chain, labor, and cost inflation risks; ●our ability to raise substantial additional capital to finance our planned operations and to continue as a going concern; ●the sufficiency of our capital resources and the availability of debt and equity financing; ●our reliance on the continued service of key employees; ●litigation, regulatory investigations, or other claims; and ●the other factors described under “Risk Factors” and elsewhere in this Annual Report. Although we believe that the assumptions underlying the forward-looking statements contained in this Annual Report arereasonable, any of the assumptions could be inaccurate, and therefore there can be no assurance that such statements will be accurate.The risks, uncertainties and assumptions referred to above that could cause our results to differ materially from the results expressedor implied by such forward-looking statements include, but are not limited to, those discussed under the heading