AMASS CFO Resigns; Series C Conversion Floor Cut to $1.00 as 3.5M-Share Warrant Is Cancelled
AMSS is trading near its 52-week low of $0.321 (3.2% above the low) on light trading volume (0.1× avg).
Summary
AMASS Brands' CFO resigned effective November 16 with an interim replacement named, while the Series C preferred conversion floor was cut from $4.00 to $1.00 and Streeterville's 3.5-million-share warrant was cancelled for no payment.
Key Events · Executive and Board Changes · AMSS
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CFO Resigns, Interim Named
Zachary Ament resigned as CFO effective November 16, 2026, citing no disagreement over operations, policies or accounting. Geoffrey McFarlane — a consultant to the company since August 2025 and interim CFO from July 2024 to August 2025 — takes over effective November 17 while a permanent search runs.
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Series C Conversion Floor Cut to $1.00
The Second Amended and Restated Certificate of Designation lowers the Floor Price below which the Series C conversion price cannot fall from $4.00 to $1.00 per share and eliminates the prior $0.75 minimum on Market Price, now defined as 90% of the lowest daily VWAP over the prior ten trading days.
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Streeterville Warrant Cancelled
A warrant initially exercisable for up to 3,500,000 common shares, issued April 7, 2026 under the March 17, 2026 purchase agreement, was terminated and cancelled effective October 22, 2026 with no payment due from the company; the rest of the purchase agreement and the Series C terms remain in force.
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Preferred Holders Hold Veto Rights
The Series C certificate bars new preferred issuance, changes to authorized share counts, asset disposals over $500,000, reverse splits (outside a Nasdaq deficiency cure) and fundamental transactions without majority consent of the Series C holders.
Analysis · AMSS · Manufacturing
Three developments land at once on a company already fighting two Nasdaq delisting notices and a going-concern warning. The CFO leaves November 16, and a consultant who held the same interim job from July 2024 to August 2025 steps back in — a gap in permanent financial leadership at the worst possible moment. More consequential for shareholders: the Series C conversion floor drops from $4.00 to $1.00 and the $0.75 minimum on the Market Price is gone, so preferred holders can convert at 90% of the lowest 10-day VWAP with a floor far below today's $0.33 trading level. That is a standing mechanism to convert into common stock at a discount to market, and the preferred carries covenants giving those holders veto rights over new issuance, asset sales, reverse splits and fundamental transactions. The one offsetting item is Streeterville cancelling its warrant for up to 3.5 million common shares for no payment, removing a large slice of potential future dilution — though Streeterville keeps its Series C preferred and the rest of the purchase agreement intact.
How filings like this one have moved
In the 30 days to Oct 25, 2026, 37% of the 948 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.78%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, AMSS was trading at $0.33 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $3.8M. The 52-week trading range was $0.32 to $17.00. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.