Capstone Companies Inc (OTC: CAPC) is a consumer products company that, as of its 10-K filed April 1, 2026, had no active product sales and was pursuing a business combination or new business line. The company historically generated revenue by selling LED lighting products and smart home devices to 'Big Box' retailers via direct import from contract manufacturers in Thailand and China. Revenue in FY2024 consisted solely of liquidating Smart Mirror inventory and selling remaining LED lighting products from existing stock; the company recorded no sales in FY2025. The Connected Chef, a kitchen appliance tablet built on Google's GMS operating system, was the company's most recent product development effort, but the associated licensing arrangement failed in November 2025 and development was suspended in Q1 2026. As of the filing date, Capstone had insufficient cash to fund operations for the next 12 months and was relying on working capital loans from Coppermine Ventures ($530,000 received as of the filing date) and a $250,000 unsecured promissory note from eBliss Global issued March 2026. No dividends have been declared or paid in at least seven years.

Revenue model

Historically transactional: direct import sales of consumer electronics and LED lighting to bulk 'Big Box' retail buyers, with title transferring at the overseas shipping point. A licensing model for the Connected Chef product was pursued but produced no revenue. No revenue was recorded in FY2025.

Products and services

LED lighting products; Smart Mirror (inventory written off as of the FY2025 filing); Connected Chef (purpose-built kitchen appliance tablet with Google GMS operating system and integrated cooking accessory platform, development suspended Q1 2026). The company also explored a health, fitness and social activities (HFS) business line beginning in 2024, with no binding agreements reached as of the filing date.

Customers and end markets

Historical customers were 'Big Box' retail chains purchasing in bulk. The Connected Chef licensing model targeted third-party licensees capable of production and marketing. No active customers as of the 10-K filed April 1, 2026.

Value-chain role

Brand owner and product designer that outsources manufacturing and assembly to OEM contract manufacturers in Thailand and China. Research and development operations were based in Florida and Thailand. The company does not manufacture products internally.

Geographic exposure

Products historically shipped from contract manufacturers in Thailand and China to U.S. retail buyers. Corporate operations based in Florida. No international sales mix disclosed in the filing.

Source: SEC 10-K, filed 2026-04-01

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