Fuse Science, Inc. 8-K

What Happened
Fuse Science, Inc. filed an 8-K disclosing that on June 17, 2026 the District Court, Clark County, Nevada, entered an Order appointing Peter D. Downey as Receiver for the company. The Order gives the Receiver court-supervised control over the company’s assets, operations, books and records, transfer agent and OTC Markets accounts, and authority to operate, manage, wind down, retain professionals, and pursue or defend legal actions on behalf of the company. Pursuant to the receivership and related resolutions, prior officers Lei Zhang (CEO & Executive Director), Meihua Xu (President & Treasurer) and Minming Yang (Company Secretary) were removed or resigned; Mr. Downey was appointed Chairman, President and Treasurer (effective June 24, 2026) and Irina Veselinovic was appointed Secretary (June 24) and later Chief Financial Officer (June 29, 2026).

Key Details

• Court Order dated June 17, 2026 appointed Peter D. Downey as Receiver for Fuse Science, Inc. (Case No. A-25-912525-C).
• Management changes effective June 24–29, 2026: Lei Zhang, Meihua Xu and Minming Yang removed/resigned; Downey (Chair/President/Treasurer) and Irina Veselinovic (Secretary, then CFO) appointed.
• Receiver has authority over the company’s OTC Markets account, transfer agent account, bank accounts, and may operate, wind down, or litigate on behalf of the company; receiver/professional fees are payable from the receivership estate as a first-priority administrative expense.
• Nevada filing (Amended List & State Business License) submitted June 25, 2026 (Filing No. 20265850993) reflecting officer changes; corporate resolutions limit unilateral presidential authority to issue shares or transfer funds without written approval by Secretary and Treasurer.

Why It Matters
This is a material corporate governance and control event: a court-appointed receiver now controls Fuse Science’s assets, accounts and business decisions, and company officers have been replaced. For investors, that likely affects who can authorize transfers, issue shares, or submit filings to OTC Markets and the transfer agent. The company stated it will try to regain OTC IQ/OTC Markets access and update disclosures, but there is no assurance on timing, market tier eligibility, or outcomes. Investors should monitor court filings, receiver reports, and subsequent issuer disclosures for developments.