Robo.ai

Capital allocation has centered on issuing large amounts of equity and share‑based compensation to acquire early‑stage assets (Neurovia at a stated US$100 million in shares and QC Capital around US$60 million in shares), settle obligations, and pay consultants, all in the wake of a 1‑for‑20 reverse split to restore listing compliance.

Dilution has been significant, with Class A and B shares outstanding jumping sharply by June 30, 2026, and additional convertibles and an equity purchase facility in place. This profile is contrary to our preference for reinvestment funded by internal cash flows and opportunistic buybacks.