Fugazi Research

$MTC: From Delisting Risk to a Half-Billion-Dollar Fantasy

A Chinese Microcap Waiting for the Rug Pull

May 18

7

$CUE: Reverse Splits, PIPE Dilution, and the Illusion of Recovery

One-time revenue. Permanent dilution.

May 11

8

1

3

$AKAN: A Half-Baked Cannabis Company Where Shareholders Get Smoked

6.7 million resale shares sit behind a 500,000-share count.

May 4

9

1

2

April 2026

$CAR (Avis Budget Group): A Prisoners' Dilemma of Two Hedge Funds

Extreme debt, a quiet concentration of control, and downside skewed toward public shareholders.

Apr 23

12

1

$SIDU: The Final Orbit before Disaster

Houston, we have a problem; control is NOT effective

Apr 6

6

$WATT: "Influencers" Running Away with Your Money

Dilution, Distribution, and Participation (Views Included)

Apr 2

9

4

4

March 2026

$WATT: A Decade of Promises, A Business Funded by Dilution

Wireless power for devices, drained batteries for investors

Mar 24

10

2

1

$CDIO: A Heartbreaking Diagnosis for Investors

Near-zero revenue, heavy dilution, and a SPAC origin story that raises serious questions.

Mar 13

6

1

February 2026

$OPTX: Zooming in on a Capone Style De-SPAC Where the Boss Cashes in and Takes All

One Insider & Total Economic Control

Feb 11

11

1

January 2026

The Black Hole at $SIDU: Where Massive Amounts of Capital Get Sucked Into the Void

The zero-profit satellite company in which the CEO is the landlord, lender, supplier, main shareholder, and main customer.

Jan 26

8

December 2025

$SMX: Going Full Israeli Commando - A 10,000% Nasdaq Pump & Dump

Zero revenue at inception. Zero shareholder value post dilution.

Dec 8, 2025

10

1

1

November 2025

Davis Commodities $DTCK: When the Sweet Trade Turns Rotten

A Family Run Illusion in the Global Commodities Game

Nov 7, 2025

10