CitroTech (CITR) Registration filing summary

Company overview and business model

• Operates as an environmentally sustainable flame retardant and suppression company, focusing on the residential home industry in the U.S. and Canada.

• Main product, CitroTech, is a non-toxic, EPA Safer Choice and UL GreenGuard Gold certified fire retardant, used for wildfire defense and lumber treatment.

• Holds 31 granted patents and 56 pending applications, with 21 trademarks, covering fire suppression, mapping, and fire inhibition technologies.

• Distributes products directly from its Oceanside, CA facility and through regional retailers; targets homeowners, developers, and fire departments in wildfire-prone states.

• Expanding into insurance partnerships to address wildfire insurance shortages in Western states.

Financial performance and metrics

• Revenue for the three months ended March 31, 2025: $969,382, up 124% from $433,018 in the prior year period.

• Net loss for the three months ended March 31, 2025: $(10,903,404), compared to $(3,519,710) in the prior year period.

• Revenue for the year ended December 31, 2024: $808,372, up 55% from $520,645 in 2023.

• Net loss for the year ended December 31, 2024: $(6,881,722), improved from $(10,102,266) in 2023.

• As of March 31, 2025, cash was $3.7 million, with a working capital of $49,000 and accumulated deficit of $87.3 million.

Use of proceeds and capital allocation

• Net proceeds from the offering expected to be approximately $10 million, assuming an $8.00 per share price.

• Planned allocation: 40% for working capital, HR, and general corporate purposes; 50% for production and inventory; 10% for marketing.

• Management retains broad discretion over use of proceeds.