American Fusion Inc (AMFN)

[BigBadWolf]

For this post I'll focus on one (mention). Nelson mentions the Texas Stock Exchange (TXSE) as a target. As per TXSE the below schedule outlines the operational and technology roadmap which targets trading to commence between July 2, 2026 - July 17, 2026.
https://www.txse.com/trading-membership/member-readiness-and-launch-guide#:~:text=The%20Texas%20Stock%20Exchange%20(TXSE)%20is%20preparing,stability%20*%20Orderly%20trading%20*%20Participant%20readiness

Brent Nelson cited the TXSE as a target, even though the exchange's standards are designed for established mid-to-large-cap companies rather than developmental OTC plays. For an existing public company to list on the TXSE, it must meet a minimum market capitalization of $200 million. Even with the 1.683 billion share cancellation, the market cap I've seen being tossed around of ($65M) is $135 million short of the TXSE’s minimum entry point.
The TXSE requires a minimum bid price of $4.00 per share maintained for at least 90 consecutive trading days
Currently w/ $AMFN Trading at $0.04, 0397 currently as of this post) the stock would need a 1-for-100 reverse split or a 10,000% organic increase in price to meet this single technical requirement.
Now let's discuss that TXSE has two primary paths for listing, and the struggles AMFN currently has w/ both,

Requires $10 million in aggregate pre-tax earnings over the last three fiscal years. (AMFN has zero commercial revenue).

TXSE requires at least $40 million in unrestricted public float aka publicly held shares. (AMFN is currently plagued by as has been noted here Unsolicited Quotes Only status, which typically excludes shares from being considered unrestricted public float for listing purposes.

The TXSE has published its official roadmap for members and issuers

Member Certification begins May 1, 2026 (just 13 days before AMFN's Form 10 deadline).
Trading is targeted to commence between July 2 and July 17, 2026.
Because the TXSE is only accepting elite initial listings to establish its reputation, a company such as AMFN without a demonstrated Net Energy Gain or [color=red]a multi-year audited revenue history (like AMFN) is highly unlikely to be in the Inaugural Class.

The TXSE also requires four registered market makers for every listing which btw is one more than Nasdaq requires.
As has been discussed, AMFN currently has zero market makers willing to sponsor a Form 211. Moving from Unsolicited Quotes Only to Four Active Market Makers would be a regulatory leap that requires more than just a successful Form 10; it requires institutional trust that the JV CPA Inc. audit is bulletproof.

The TXSE target mentioned by $Brent $Nelson appears to be a Narrative Stretch (to be kind) . Again as per TXSE itself & based on the $200M market cap and $4.00 price floor, AMFN is technically ineligible for the Texas Stock Exchange in its current form.
How would management NOT know that currently they are $135M below the market cap requirement and 9,900% below the price requirement for the TXSE. So considering the aforementioned is the public mention of an uplist to the Texas Stock Exchange actually a material misstatement designed to pump the share price before the May 14th effective date?