Cycurion, Inc. — Form 8-K/A
Filed October 28, 2026 · analyzed by the 8-K Agent
8-K/A
— Neutral
significance 72/100
What the filing says
On June 3, 2026, Cycurion (market cap ~$10.1M) acquired 100% of Secuvant LLC for $2.875M in upfront consideration ($875K cash + 888,888 shares of Series I preferred stock valued at $2M), plus contingent earn-out of up to $3.12M over three years if revenue/margin targets met. Secuvant: $2.3M revenue (2025), $0.8M net income (2025); but declining billings (down 15% in 2025, 31% in H1 2026), concentrated customer base (60% from one customer), working capital deficit, and both companies flagged substantial going-concern doubt. Consideration represents ~59% of Cycurion's public market value; material relative to acquirer size.
Why this rating
Major M&A for micro-cap ($10.1M) Cycurion—nearly 60% of market value in upfront/equity. Adds revenue but target has severe headwinds: collapsing billings, customer concentration, going-concern risk, and parent also at risk. Neutral tone reflects offsetting factors: scale of deal is material; business quality is poor.
Price action (we called it neutral)
before filing · preread $0.02 | at our read pending | +10 min pending | +30 min pending | +1 hr pending | +4 hrs pending |
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