AIOS Tech Inc., the British Virgin Islands holding company that traded for a decade as Nisun International and, before that, Hebron Technology, reported its fiscal 2025 results in late April under a new name, a new ticker, and an almost entirely new business. The report is not really a continuity story. It is a before-and-after picture: a legacy Chinese supply-chain-and-SME-finance operation, which once booked $386 million of annual revenue, was sold in December 2025 to an unrelated third party for a nominal consideration, booking a $225 million loss on disposal that drove a $220.9 million net loss for the year. What remains - AIOS, the reborn entity - generated $5.07 million of continuing revenue in fiscal 2025 and ended the year with roughly $1.4 million of cash.
The central tension is blunt: the market now prices this micro-cap at about $111 million, or roughly twenty-two times the revenue the new business actually recorded in its first year. That multiple is a bet on the new AI-and-IT-services story, not on earnings that exist. Between fiscal 2025 year-end and today the company consolidated its shares 20-for-1, briefly fell below the Nasdaq $1 minimum bid, regained compliance, registered a $300 million shelf, and issued five million super-voting Class B shares at par to a vehicle owned by its own co-chief executive - handing him roughly 99% of voting power for $500. The thesis is now entirely in front of the company: whether the Hong Kong IT-services arm (YD Network) and the relaunched SME-financing advisory business can turn a five-million-dollar revenue base into something the price implies. The write-off is spent; the ballgame is the new business.