Leadership and Strategy Shift at DNA X Following Core Business Divestment

Sonim Technologies US83548F2002

DNA X, Inc., the company formerly known as Sonim Technologies, has cemented its strategic pivot from a hardware manufacturer to a digital asset services provider. This transformation follows the recent completion of the sale of its legacy mobile communications business and is being steered by a reconfigured leadership team.

In a move to stabilize and incentivize its leadership for the new chapter, DNA X has implemented key changes to its executive agreements. Mike Mulica, previously the Executive Chairman, has now assumed the role of interim Chief Executive Officer. His appointment was formally effective two days ago, with a base salary adjustment retroactive to January 30.

As part of his compensation package, Mulica was granted 50,000 Restricted Stock Units (RSUs). These equity awards will vest monthly over a twelve-month period, contingent upon his continued service with the company. This structure is designed to align his interests with the long-term execution of the firm's revised strategy.

Concurrently, the employment terms for CFO Clay Crolius were modified. The closing of the asset sale in late January triggered a pivotal event in his contract, resulting in an award of 35,000 RSUs. Similar to the CEO's grant, these shares are subject to a one-year vesting schedule with monthly increments.

Finalizing the Exit from Hardware

The leadership adjustments come directly on the heels of a fundamental restructuring of the company's balance sheet. Shareholders had already given their approval on December 30, 2025, for the divestment of substantially all assets related to the rugged mobile phone and hotspot division. The buyer, NEXA, completed the acquisition in January.

Company management has stated that proceeds from the sale are being allocated primarily toward debt reduction. Remaining capital will serve as working funds to build the new operational focus. The official corporate rebranding to DNA X, Inc., which occurred on January 27, provided a definitive public marker for the end of its era as a hardware producer.

Unified Focus on Digital Asset Platform

With the legacy business now sold, DNA X is channeling all operational resources into its namesake digital asset trading platform. The recent executive contract revisions also incorporate provisions for severance protections following a change-in-control, aimed at ensuring management continuity during this critical repositioning phase.

The company's immediate priority for the coming months is the operational scaling of its DNA X platform. Having shed the remnants of its previous hardware operations, achieving profitability in this new segment stands as the paramount objective. The central question for investors is whether this digital asset venture can successfully replace the revenue stream from the divested mobile business.

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