SCHEDULE: FiEE, Inc. Shareholder Filing Amendment

Elements Corporate Services Ltd. and Wong Man Ching have amended their Schedule 13D filing for FiEE, Inc. due to an increase in the issuer's outstanding shares.

Summary

• This filing is an amendment (Amendment No. 1) to a previously filed Schedule 13D by Elements Corporate Services Ltd. and Wong Man Ching (collectively, the "Reporting Persons").
• The amendment is solely due to an increase in FiEE, Inc.'s total number of outstanding shares of Common Stock, not due to any new transactions by the Reporting Persons.
• The Reporting Persons collectively beneficially own 3,196,343 shares of FiEE, Inc. Common Stock, representing 38% of the class.
• This beneficial ownership includes 3,119,830 shares of Common Stock and 76,513 shares of Common Stock issuable upon conversion of 54,652 shares of Series A Convertible Preferred Stock.
• The Series A Convertible Preferred Stock is convertible at a ratio of 1.4 shares of Common Stock per share of preferred stock and votes on an as-converted basis.
• The total outstanding shares of Common Stock used for percentage calculation is 8,405,111, based on 8,328,598 outstanding shares as of April 27, 2026, plus the convertible shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it primarily serves as an administrative update due to an increase in outstanding shares rather than reporting new strategic actions or significant changes in beneficial ownership by the reporting persons.

Positives

• The Reporting Persons maintain a significant stake (38%) in FiEE, Inc., indicating continued investor confidence or strategic interest.
• The increase in outstanding shares, while triggering an amendment, suggests potential growth or financing activities by the issuer, which could be positive if used for expansion.
• The convertible preferred stock provides a mechanism for increased common stock ownership upon conversion, potentially reflecting a future increase in the company's value.

Negatives

• The filing does not report any new transactions by the Reporting Persons, which could imply a lack of recent strategic activity or changes in their investment approach.
• The significant percentage of ownership by a single entity or closely related individuals could raise concerns about concentrated control and potential influence over corporate decisions.

Risks

• The increase in the issuer's total outstanding shares could dilute existing shareholders' ownership percentage if not accompanied by a proportional increase in company value or earnings.
• Concentration of ownership (38%) by Elements Corporate Services Ltd. and Wong Man Ching could lead to potential conflicts of interest or influence over corporate governance decisions that may not align with other shareholders' interests.

Future Outlook

The filing does not contain specific forward-looking statements or guidance from management regarding future performance. The primary focus is on reporting current beneficial ownership and the reason for the amendment.

Management Comments

• This Amendment No. 1 is being filed solely due to an increase in the Issuer's total number of outstanding shares of Common Stock and not as a result of any transactions by the Reporting Persons.
• Except as specifically provided herein, this Amendment No. 1 does not modify any of the information previously reported in the Schedule 13D.

Industry Context

StockSavvy.ai notes that Schedule 13D filings are crucial for tracking significant ownership changes and potential shifts in control within publicly traded companies. Amendments like this, triggered by changes in outstanding shares, often precede or coincide with corporate actions such as stock splits, new equity offerings, or significant corporate events.

Stakeholder Impact

• Shareholders: The increase in outstanding shares could lead to dilution if not accompanied by value creation. The significant ownership by the reporting persons may influence corporate decisions, impacting minority shareholder interests.
• Management: The reporting persons' substantial stake may exert influence on management decisions and strategic direction.
• Creditors: Changes in share structure or potential capital raises could impact the company's financial leverage and debt covenants.

Next Steps

• Monitor FiEE, Inc. for further announcements regarding the increase in outstanding shares, which may indicate a capital raise, stock split, or other corporate actions.
• Observe any future transactions or filings by Elements Corporate Services Ltd. and Wong Man Ching concerning their stake in FiEE, Inc.

Key Dates

Keywords

Schedule 13D, FiEE, Inc., Elements Corporate Services Ltd, Wong Man Ching, Beneficial Ownership, Common Stock, Series A Convertible Preferred Stock, SEC Filing, Amendment, Shareholder