FCUV

WEST COVINA, CA - April 14, 2026 (NEWMEDIAWIRE) - Focus Universal Inc. (NASDAQ: FCUV) (the "Company"), a provider of patented hardware and software design technologies for the Internet of Things (IoT), 5G, and AI-driven SEC financial reporting automation software, today announced today that none of its 8,236 previously outstanding Convertible Redeemable Preferred Shares, Series B (Series B Shares) remain outstanding as of today. The remainder of the converted shares were converted as of midday, 12:00PM EST on April 6, 2026. 7,006 Series B shares, or 85.1% of the total shares, were converted in aggregate. On April 13th, 2026, the remainder of the 1,230 shares were redeemed at a discounted value of $782 per share. The complete amount, or 100% of 750,000 of the Series A (Series A Shares) were converted earlier in 2025. As a result, as of April 14, 2026, the Company will have zero Series A Shares and zero Series B shares issued and outstanding. "Our latest actions demonstrate a commitment to transforming our balance sheet, safeguarding the financial health of the Company, and focusing on long-term growth, where we are still bullish on our ability to grow the long-term financial stability of our businesses as a whole. We believe our strong, pre-redemption cash position today of roughly $9.73M stands very strong as compared to our current market capitalization. Obviously, along with the conversion of the preferred shares to common stock, the associated preferential rights of these shares also no longer remain outstanding," remarked Irving Kau, Chief Financial Officer of Focus Universal. "Furthermore, our forthcoming asset building purchase, which in part will serve as corporate headquarters, holds a very high capitalization rate for Los Angeles County of over 10% with a Los Angeles County Assessor assessed aggregate value of $28,329,330 in 2026 and generating roughly $3.1 million in annual rents. Moreover, we hope these conversion results along with our recapitalization coupled with our forthcoming asset purchase moves will significantly reduce corporate expense burden, bolster our equity value, and reduce any potential overhang on our shares. Prior to this asset purchase, the Company currently also carried no long-term debt," continued Irving Kau. "We sincerely thank our shareholders for their unwavering support and belief in the equity value and future upside of...