A pre-revenue AI crypto startup funneled $12 million into EV as bad crypto trades erased 97% of cash in six months
AIxCrypto Holdings is still pre-revenue and entered Q3 with just $577,328 in cash after cash fell 97% in six months from $19.33 million at year-end. It reported a $10.27 million first-half net loss and used $7.94 million in operating cash. Cash also declined from a $12 million financing outflow tied to Faraday Future securities and $2.11 million from digital-asset sales. The company’s digital assets fell to $5.21 million from $10.25 million, including a $2.93 million net loss on those holdings; Bitcoin made up about 52% of the portfolio. Current liabilities were $1.72 million, nearly triple cash, and there was no debt for borrowed money. AIxCrypto plans to launch RoboShare in Los Angeles and targets revenue in Q3, but the marketplace has not yet proven it can generate meaningful recognized revenue. A stock purchase facility could provide up to $50 million, though funding is conditional and potentially highly dilutive.
