{"url_path":"/sec/aloy/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-20","source_url":"https://www.sec.gov/Archives/edgar/data/1567900/0001628280-26-036966-index.html","accession_number":"0001628280-26-036966","cik":"0001567900","ticker":"ALOY","issuer_name":"REALLOYS INC.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1567900/0001628280-26-036966-index.html","primary_entity_key":"0001567900","primary_entity_name":"REALLOYS INC."},"word_count":755,"has_tables":true,"body_markdown":"aloy-20260331\n000156790012-31falseQ120260.41290.41290.41290.4129P2Dxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:purealoy:claimutr:haaloy:pathwayaloy:votealoy:agreementiso4217:CADaloy:contingentValueRightaloy:segment00015679002026-01-012026-03-3100015679002026-05-1500015679002026-03-3100015679002025-12-310001567900us-gaap:NonrelatedPartyMember2026-03-310001567900us-gaap:NonrelatedPartyMember2025-12-310001567900us-gaap:RelatedPartyMember2026-03-310001567900us-gaap:RelatedPartyMember2025-12-3100015679002026-02-2400015679002025-01-012025-03-310001567900srt:ScenarioPreviouslyReportedMember2025-12-310001567900srt:ScenarioPreviouslyReportedMemberus-gaap:PreferredStockMember2025-12-310001567900srt:ScenarioPreviouslyReportedMemberus-gaap:CommonStockMember2025-12-310001567900srt:ScenarioPreviouslyReportedMemberus-gaap:AdditionalPaidInCapitalMember2025-12-310001567900srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2025-12-310001567900srt:RestatementAdjustmentMember2025-12-310001567900srt:RestatementAdjustmentMemberus-gaap:PreferredStockMember2025-12-310001567900srt:RestatementAdjustmentMemberus-gaap:CommonStockMember2025-12-310001567900srt:RestatementAdjustmentMemberus-gaap:AdditionalPaidInCapitalMember2025-12-310001567900srt:RestatementAdjustmentMemberus-gaap:RetainedEarningsMember2025-12-310001567900us-gaap:PreferredStockMember2025-12-310001567900us-gaap:CommonStockMember2025-12-310001567900us-gaap:AdditionalPaidInCapitalMember2025-12-310001567900us-gaap:RetainedEarningsMember2025-12-310001567900us-gaap:PreferredStockMember2026-01-012026-03-310001567900us-gaap:CommonStockMember2026-01-012026-03-310001567900us-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310001567900aloy:SpecialWarrantsMemberus-gaap:CommonStockMember2026-01-012026-03-310001567900aloy:SpecialWarrantsMemberus-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310001567900aloy:SpecialWarrantsMember2026-01-012026-03-310001567900us-gaap:SeriesCPreferredStockMemberus-gaap:CommonStockMember2026-01-012026-03-310001567900us-gaap:SeriesCPreferredStockMemberus-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310001567900us-gaap:SeriesCPreferredStockMember2026-01-012026-03-310001567900us-gaap:RetainedEarningsMember2026-01-012026-03-310001567900us-gaap:PreferredStockMember2026-03-310001567900us-gaap:CommonStockMember2026-03-310001567900us-gaap:AdditionalPaidInCapitalMember2026-03-310001567900us-gaap:RetainedEarningsMember2026-03-310001567900srt:ScenarioPreviouslyReportedMember2024-12-310001567900srt:ScenarioPreviouslyReportedMemberus-gaap:PreferredStockMember2024-12-310001567900srt:ScenarioPreviouslyReportedMemberus-gaap:CommonStockMember2024-12-310001567900srt:ScenarioPreviouslyReportedMemberus-gaap:AdditionalPaidInCapitalMember2024-12-310001567900srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2024-12-310001567900srt:RestatementAdjustmentMember2024-12-310001567900srt:RestatementAdjustmentMemberus-gaap:PreferredStockMember2024-12-310001567900srt:RestatementAdjustmentMemberus-gaap:CommonStockMember2024-12-310001567900srt:RestatementAdjustmentMemberus-gaap:AdditionalPaidInCapitalMember2024-12-310001567900srt:RestatementAdjustmentMemberus-gaap:RetainedEarningsMember2024-12-3100015679002024-12-310001567900us-gaap:PreferredStockMember2024-12-310001567900us-gaap:CommonStockMember2024-12-310001567900us-gaap:AdditionalPaidInCapitalMember2024-12-310001567900us-gaap:RetainedEarningsMember2024-12-310001567900us-gaap:CommonStockMember2025-01-012025-03-310001567900us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-310001567900us-gaap:RetainedEarningsMember2025-01-012025-03-3100015679002025-03-310001567900us-gaap:PreferredStockMember2025-03-310001567900us-gaap:CommonStockMember2025-03-310001567900us-gaap:AdditionalPaidInCapitalMember2025-03-310001567900us-gaap:RetainedEarningsMember2025-03-310001567900us-gaap:NonrelatedPartyMember2026-01-012026-03-310001567900us-gaap:NonrelatedPartyMember2025-01-012025-03-310001567900us-gaap:RelatedPartyMember2026-01-012026-03-310001567900us-gaap:RelatedPartyMember2025-01-012025-03-310001567900aloy:StrategicMetalsDevelopmentInc.Member2024-05-290001567900aloy:StrategicMetalsDevelopmentInc.Member2024-05-290001567900aloy:REalloysInc.Member2026-02-240001567900us-gaap:SubsequentEventMember2026-04-300001567900aloy:PublicOfferingMember2026-03-092026-03-090001567900aloy:EVTECHoldingsGroupLimitedMember2026-02-230001567900aloy:EVTECHoldingsGroupLimitedMember2026-02-240001567900aloy:EVTECHoldingsGroupLimitedMember2026-02-242026-02-240001567900aloy:PilotHREEMetallizationMember2026-03-310001567900aloy:CommercialHREEMetallizationMember2026-03-310001567900us-gaap:MachineryAndEquipmentMember2026-03-310001567900us-gaap:MachineryAndEquipmentMember2025-12-310001567900aloy:LeaseholdImprovementsAndOtherMember2026-03-310001567900aloy:LeaseholdImprovementsAndOtherMember2025-12-310001567900aloy:BlackboxstocksMember2026-02-240001567900aloy:BlackboxstocksMember2026-02-242026-03-310001567900aloy:BlackboxstocksMember2026-02-242026-02-240001567900aloy:ReverseRecapitalizationWarrantsMember2026-02-240001567900aloy:March2025WarrantsMember2026-02-230001567900aloy:March2025WarrantsMember2026-02-240001567900us-gaap:SeriesAPreferredStockMember2026-02-240001567900us-gaap:SeriesBPreferredStockMember2026-02-240001567900aloy:GustKeplerLeonardSternheimMember2026-03-310001567900aloy:PublicOfferingMember2026-03-090001567900aloy:BlackboxstocksMemberaloy:ATMOfferingProgramMember2026-02-192026-02-190001567900aloy:SpecialWarrantsMember2026-02-230001567900aloy:SpecialWarrantsMemberus-gaap:CommonStockMember2026-02-242026-02-240001567900aloy:SpecialWarrantsMember2026-02-242026-02-240001567900aloy:SpecialWarrantsMember2026-02-240001567900aloy:SpecialWarrantsMemberus-gaap:AdditionalPaidInCapitalMember2026-02-242026-02-2400015679002026-02-242026-02-240001567900aloy:SeriesXPreferredStockMember2026-02-232026-02-230001567900aloy:SeriesXPreferredStockMember2026-02-240001567900aloy:A2025LongTermIncentivePlanMember2026-03-310001567900aloy:A2021BlackboxstocksInc.IncentiveStockPlanMember2026-03-310001567900us-gaap:RestrictedStockUnitsRSUMember2026-02-230001567900us-gaap:PerformanceSharesMember2026-02-230001567900us-gaap:RestrictedStockUnitsRSUMember2026-02-240001567900us-gaap:PerformanceSharesMember2026-02-240001567900us-gaap:RestrictedStockUnitsRSUMember2026-01-012026-03-310001567900us-gaap:RestrictedStockUnitsRSUMember2025-01-012025-03-310001567900aloy:StockAwardsMember2026-01-012026-03-310001567900aloy:StockAwardsMember2025-01-012025-03-310001567900us-gaap:PerformanceSharesMember2026-01-012026-03-310001567900us-gaap:PerformanceSharesMember2025-01-012025-03-310001567900srt:ChiefExecutiveOfficerMemberaloy:MarketBasedRestrictedStockUnitsRSUsMember2025-12-152025-12-150001567900srt:ChiefExecutiveOfficerMemberaloy:MarketBasedRestrictedStockUnitsRSUsMember2025-12-150001567900srt:ChiefExecutiveOfficerMemberus-gaap:PerformanceSharesMember2026-03-310001567900srt:ChiefExecutiveOfficerMemberus-gaap:PerformanceSharesMember2026-01-012026-03-310001567900srt:ChiefExecutiveOfficerMemberus-gaap:RestrictedStockUnitsRSUMember2026-01-012026-03-310001567900us-gaap:RestrictedStockUnitsRSUMember2025-12-310001567900us-gaap:RestrictedStockUnitsRSUMember2026-03-310001567900aloy:MarketBasedRestrictedStockUnitsRSUsMember2025-12-310001567900aloy:MarketBasedRestrictedStockUnitsRSUsMember2026-01-012026-03-310001567900aloy:MarketBasedRestrictedStockUnitsRSUsMember2026-03-310001567900us-gaap:PerformanceSharesMember2025-12-310001567900us-gaap:PerformanceSharesMember2026-03-310001567900aloy:SpecialWarrantsMember2024-05-290001567900aloy:ReverseRecapitalizationContingentConsiderationMembersrt:MinimumMemberus-gaap:MeasurementInputDiscountRateMember2026-03-310001567900aloy:ReverseRecapitalizationContingentConsiderationMembersrt:MaximumMemberus-gaap:MeasurementInputDiscountRateMember2026-03-310001567900aloy:ReverseRecapitalizationContingentConsiderationMembersrt:MinimumMemberaloy:MeasurementInputTimingOfLiquidityEventMember2026-03-310001567900aloy:ReverseRecapitalizationContingentConsiderationMembersrt:MaximumMemberaloy:MeasurementInputTimingOfLiquidityEventMember2026-03-310001567900aloy:ReverseRecapitalizationContingentConsiderationMembersrt:MinimumMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMember2026-03-310001567900aloy:ReverseRecapitalizationContingentConsiderationMembersrt:MaximumMemberus-gaap:MeasurementInputDiscountForLackOfMarketabilityMember2026-03-310001567900aloy:SpecialWarrantsMember2026-03-310001567900aloy:SpecialWarrantsMember2025-12-310001567900aloy:SAFEAgreementMember2025-12-310001567900aloy:SAFEAgreementMember2026-01-012026-03-310001567900aloy:SAFEAgreementMember2026-03-310001567900aloy:SAFEAgreementMember2024-12-310001567900aloy:SAFEAgreementMember2025-01-012025-03-310001567900aloy:SAFEAgreementMember2025-03-310001567900aloy:GeneralAndAdministrativeCommitmentsMember2026-03-3100015679002025-11-200001567900aloy:SRCREPFUpgradeMember2026-03-310001567900aloy:REalloysInc.Memberus-gaap:RelatedPartyMember2024-06-030001567900us-gaap:NotesPayableOtherPayablesMemberus-gaap:RelatedPartyMember2024-06-030001567900us-gaap:NotesPayableOtherPayablesMemberus-gaap:RelatedPartyMember2024-06-032024-06-030001567900us-gaap:NotesPayableOtherPayablesMemberus-gaap:RelatedPartyMember2026-01-012026-03-310001567900us-gaap:NotesPayableOtherPayablesMemberus-gaap:RelatedPartyMember2026-03-310001567900us-gaap:NotesPayableOtherPayablesMemberus-gaap:RelatedPartyMember2025-01-012025-12-310001567900us-gaap:NotesPayableOtherPayablesMemberus-gaap:RelatedPartyMember2025-12-310001567900us-gaap:NotesPayableOtherPayablesMemberus-gaap:RelatedPartyMember2026-02-032026-02-030001567900us-gaap:WarrantMember2026-01-012026-03-310001567900us-gaap:EmployeeStockOptionMember2026-01-012026-03-310001567900us-gaap:RestrictedStockUnitsRSUMember2026-01-012026-03-310001567900us-gaap:PerformanceSharesMember2026-01-012026-03-310001567900us-gaap:SeriesAPreferredStockMember2026-01-012026-03-310001567900us-gaap:SeriesAPreferredStockMemberaloy:HolderOfMoreThan10CommonStockMemberus-gaap:SubsequentEventMember2026-04-142026-04-140001567900aloy:HolderOfMoreThan10CommonStockMemberus-gaap:SubsequentEventMember2026-04-142026-04-140001567900us-gaap:SeriesAPreferredStockMemberaloy:HolderOfMoreThan10CommonStockMemberus-gaap:SubsequentEventMember2026-04-140001567900us-gaap:SeriesAPreferredStockMemberaloy:GustKeplerMemberus-gaap:SubsequentEventMember2026-05-05\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\n_________________________\n\nFORM 10-Q\n\n_________________________\n\n(Mark One)\n\nxQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nOR\n\noTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from\n\nCommission file number 001-41051\n\n_________________________\n\nREALLOYS INC.\n\n(Exact name of registrant as specified in its charter)\n\n_________________________\n\nNevada45-3598066\n\n(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)\n\n7280 W. Palmetto Park Rd., Suite 302N Boca Raton, FL\n33433\n\n(Address of Principal Executive Offices)(Zip Code)\n\n972-726-9203\n\nRegistrant’s telephone number, including area code\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading Symbol(s)Name of each exchange on which registered\n\nCommon Stock, par value $0.001 per shareALOYThe Nasdaq Stock Market\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\n\nYes x No o\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\n\nYes x No o\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated fileroAccelerated filero\n\nNon-accelerated filerxSmaller reporting companyx\n\nEmerging growth companyx\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.\n\no\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).\n\nYes o No x\n\nThe registrant had outstanding 61,213,498 shares of common stock as of May 15, 2026.\n\nEXPLANATORY NOTE\n\nOn March 10, 2025, REalloys Inc .(formerly known as Blackboxstocks Inc., “Blackboxstocks”; “REalloys” or the “Company”) and its wholly owned subsidiary, RABLBX Merger Sub, Inc., (“RABLBX”), entered into an Agreement and Plan of Merger, as amended by that certain Amendment No. 1 (“Amendment No. 1”), dated as of July 1, 2025, Amendment No. 2 (“Amendment No. 2”), dated as of August 22, 2025, and Amendment No. 3 (“Amendment No. 3”) dated as of December 10, 2025 (collectively, the “Merger Agreement”), with REalloys Solutions Inc. (formerly known as REalloys Inc.; “Private REalloys”). In accordance with the Merger Agreement, RABLBX merged with and into Private REalloys, with Private REalloys surviving as a wholly owned subsidiary of the Company. On February 24, 2026, (i) pursuant to an amendment to its Articles of Incorporation, the Company changed its name from “Blackboxstocks Inc.” to “REalloys Inc.”, (ii) pursuant to an amendment to its Articles of Incorporation, Private REalloys changed its name to “REalloys Solutions Inc.”, and (iii) REalloys and RABLBX filed the Certificate of Merger with the State of Nevada (the “Merger”). On February 24, 2026, the Merger closed (the “Closing” and such date, the “Closing Date”).\n\nThe information in this Quarterly Report on Form 10-Q (the “Quarterly Report”) reflects the consummation of the Merger.\n\nREalloys, Inc. and Subsidiaries\n\nTABLE OF CONTENTS\n\n[PART I – FINANCIAL INFORMATION](#i0b5fd282b50b457586aa55be6955b133_10)\n\nPage\n\n[Item 1.](#i0b5fd282b50b457586aa55be6955b133_13)\n\n[Financial Statements](#i0b5fd282b50b457586aa55be6955b133_13)\n\n[4](#i0b5fd282b50b457586aa55be6955b133_13)\n\nCondensed Consolidated Balance Sheets\n[4](#i0b5fd282b50b457586aa55be6955b133_16)\n\nCondensed Consolidated Statements of Operations\n[5](#i0b5fd282b50b457586aa55be6955b133_19)\n\nCondensed Consolidated Statements of Changes in Mezzanine Equity and Stockholders’ Equity\n[6](#i0b5fd282b50b457586aa55be6955b133_22)\n\nCondensed Consolidated Statements of Cash Flows\n[8](#i0b5fd282b50b457586aa55be6955b133_25)\n\n[Notes to Condensed](#i0b5fd282b50b457586aa55be6955b133_28)[Consolidated](#i0b5fd282b50b457586aa55be6955b133_28)[Financial Statements](#i0b5fd282b50b457586aa55be6955b133_28)\n\n[9](#i0b5fd282b50b457586aa55be6955b133_28)\n\n[Item 2.](#i0b5fd282b50b457586aa55be6955b133_73)\n\n[Management's Discussion and Analysis of Financial Condition and Results of Operations](#i0b5fd282b50b457586aa55be6955b133_73)\n\n[24](#i0b5fd282b50b457586aa55be6955b133_73)\n\n[Item 3.](#i0b5fd282b50b457586aa55be6955b133_100)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#i0b5fd282b50b457586aa55be6955b133_100)\n\n[34](#i0b5fd282b50b457586aa55be6955b133_100)\n\n[Item 4.](#i0b5fd282b50b457586aa55be6955b133_103)\n\n[Controls and Procedures](#i0b5fd282b50b457586aa55be6955b133_103)\n\n[34](#i0b5fd282b50b457586aa55be6955b133_103)\n\n[PART II – OTHER INFORMATION](#i0b5fd282b50b457586aa55be6955b133_106)\n\n[Item 1.](#i0b5fd282b50b457586aa55be6955b133_109)\n\n[Legal Proceedings](#i0b5fd282b50b457586aa55be6955b133_109)\n\n[35](#i0b5fd282b50b457586aa55be6955b133_109)\n\n[Item 1A.](#i0b5fd282b50b457586aa55be6955b133_112)\n\n[Risk Factors](#i0b5fd282b50b457586aa55be6955b133_112)\n\n[35](#i0b5fd282b50b457586aa55be6955b133_112)\n\n[Item 2.](#i0b5fd282b50b457586aa55be6955b133_115)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#i0b5fd282b50b457586aa55be6955b133_115)\n\n[67](#i0b5fd282b50b457586aa55be6955b133_115)\n\n[Item 3. ](#i0b5fd282b50b457586aa55be6955b133_118)\n\n[Defaults Upon Senior Securities ](#i0b5fd282b50b457586aa55be6955b133_118)\n\n[67](#i0b5fd282b50b457586aa55be6955b133_118)\n\n[Item 4.](#i0b5fd282b50b457586aa55be6955b133_121)\n\n[Mine Safety Disclosures ](#i0b5fd282b50b457586aa55be6955b133_121)\n\n[67](#i0b5fd282b50b457586aa55be6955b133_121)\n\n[Item 5. ](#i0b5fd282b50b457586aa55be6955b133_124)\n\n[Other Information ](#i0b5fd282b50b457586aa55be6955b133_124)\n\n[67](#i0b5fd282b50b457586aa55be6955b133_124)\n\n[Item 6.](#i0b5fd282b50b457586aa55be6955b133_127)\n\n[Exhibits](#i0b5fd282b50b457586aa55be6955b133_127)\n\n[68](#i0b5fd282b50b457586aa55be6955b133_127)\n\nSignatures\n\nPart I - Financial Information"}