Elements Corporate Services Ltd 4

What Happened

• Elements Corporate Services Ltd, a reported 10% owner of FiEE, converted a derivative security into 981,649 common shares of FiEE on 2025-10-27. The conversion price was $0.25 per share, for an aggregate value of approximately $245,412 (filing notes this figure includes interest). The derivative instrument was extinguished as part of the conversion.

Key Details

• Transaction date: 2025-10-27.
• Conversion: 981,649 shares acquired at $0.25 per share; total ~$245,412 (F2: includes interest).
• Derivative disposal line: filing shows the derivative was converted (no separate cash sale).
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 notes Elements is a Hong Kong entity; Wong Man Ching is sole director/shareholder and may be deemed to beneficially own the shares. F2 confirms the total includes interest.
• Timeliness: Filing date 2026-01-29 for an Oct 27, 2025 transaction — this appears to be a late Form 4 (Form 4s are typically due within two business days).

Context

• This was a conversion of a derivative (e.g., convertible note/warrant) into common stock rather than an open-market purchase or sale; the filing does not show any immediate sale of the newly issued shares. As a 10% institutional holder (via a corporate vehicle), this transaction reflects an ownership change by an entity rather than a routine executive buy/sell. The late filing may be a reporting issue but does not itself indicate trading intent.