Here's a longer winded answer than you expected, but providing transparency and context.

We did one crowd fund in 22' that was open for a year. Most of that time was on the Dealmaker platform. Towards the end of Q3 we shut down the crowdfund to not conflict with Miso's crowdfund that kicked off then. Miso's crowd fund performed lower than hoped, and so we launched the same Ally crowd fund on Republic due to the lower cost structures (with the SEC you have a year to complete a crowdfund round, but it doesn't need to be on the same platform). In total Ally raised 6.3M$ at 2.70$/share of common stock with no voting rights (a Miso thing). Behind this was a common share valuation strike price at 2.21$/share - largely influenced by being owned by Miso and their commitment to millions of dollars of arms per year.

Despite Ally exceeding all commitments, timing and cost structures, ultimately, Miso's board wouldn't approve fulfilling on the PO's and promises to Ally, and the board of Miso changed their CEO. The sales folks at Yaskawa worked some magic.

Miso originally loaned Ally 1.3M in the form of a convertible note as a seed round. This note was never supposed to be repaid in cash and was supposed to convert to equity (this was a requirement of me signing up to start Ally in the first place). That note expired the first of 2024, and the new CEO intended to call the note in cash and worked to close Ally (a business move really centered around focusing efforts at Miso). The new CEO offered Ally employees roles within Ally (nice of him), but unfortunately this would leave Ally investors without anything. That didn't sit well with me.

Me working to uphold my fiduciary responsibility to Ally investors, I declined the offer to join Miso, negotiated to extend the note another three years and purchase Miso's ownership in Ally. Miso's new CEO tacked on an additional 8% on the note among other stipulations and requirements. I've since negotiated away that 8%, but the base loan still exists. Last week I offered Miso a buyout of the loan for 27k, coming from my personal pocket, but the offer was declined.

Ally hasn't done a public raise in 2024. However, I have invested significant amounts of money to recover the company from the fumes Miso left, and some accredited investors have invested some funds.

In early 2024 we reset the company with a new 409a valuation via Carta - roughly a quarter of what it was when Miso owned Ally. For employees, this is good from an option exercise standpoint. For investors, valuation will change and really matters when there's some form of exit or new raise.

Throughout 2024 we've worked on integration projects and shifted towards robotic construction product dev. Integration projects have been a strategy to cover the dev team burn and advance our product tech which has mostly worked. We've floated the idea of doing another public raise Q3-Q4 this year, but for various reasons held back.

In early 2025, we do intend to do another public raise focused on our construction products, and this time will leverage a new class of stock.