General Enterprise Ventures (Uplisting – NYSE-AmEx)

General Information
Business:

Note: This is NOT an IPO. This is an uplisting to the NYSE – American Exchange, also known as the NYSE – AmEx, from the OTCID Basic Market (formerly known as the Pink Market), according to the prospectus.

(Incorporated in Wyoming)

We are an environmentally sustainable flame retardant and flame suppression company for the residential home industry throughout the United States and Canada markets.

Steve Conboy, who founded MFB, has been in the lumber business for over 30 years. Approximately 10 years ago, he realized that residential and commercial fires, as well as wildfires, would not cease for the foreseeable future. Mr. Conboy understood that, even if lumber was treated, it was toxic by nature and this toxicity Is harmful to humans and the environment. He realized that there was a market, and most importantly a need, for a product that was capable of fire suppression and being a fire retardant while also being the safest for the environment and for human beings.

Mr. Conboy set out to develop a formula for a product that would meet these requirements. During the course of research and development, Mr. Conboy formed MFB and contributed numerous patents toward development of the green product line that was envisioned many years ago. That product is CitroTech. Since MFB Ohio acquired the MFB portfolio of intellectual property on April 13, 2022, company management has continued to develop many formulations to achieve the vision. In addition, the company has been recognized for its achievement. These recognitions and achievements include twice receiving the EPA Safer Choice award and being the first and only EPA recognized fire retardant (safe for the environment), being awarded UL GreenGuard Gold status (demonstrates minimal impact on the indoor environment in the long period), other accreditations, and adoption by fire departments throughout the State of California.

After the company’s acquisition of the technology, the patent portfolio and technology will be expanded into areas that benefit from an environmentally safe product disrupting a market previously thought of as toxic and carcinogenic. MFB has developed and is in the initial phases of marketing wood coatings using its safe, environmentally friendly technology. MFB is also currently deploying Proactive Wildfire Defense Systems on residential and commercial properties. MFB installs self-contained sprinkler systems utilizing its patented CitroTech product that are proactively deployed in advance of wildfires thereby reducing the risk to the structures protected by the systems. Wildfire insurance is a significant problem in eleven western states. MFB is working with insurance companies to reduce the risk and allow properties to be insured in the Wilderness Urban Interface, a zone of transition between wilderness and developed land where built environment meets natural environment at greater risk of catastrophic wildfire. There is a wildfire base insurance shortage in 11 western states. In those states, policies are not being written on new construction or renewal of existing policies (resulting in cancelation of current polices).  MFB is working with a large insurance broker to offer insurance to our customers when installing an MFB proactive wildfire defense system. The insurance policies are being underwritten by large name insurance companies. MFB is now in the proof of concept phase and developing revenues in the various markets.

 

Note: Net loss and revenue are for the 12 months that ended March 31, 2025.

(Note: General Enterprise Ventures cut the size of its public offering to 1.25 million shares – down from 3.5 million shares initially – at a price range of $11.00 to $13.00 – to raise $15 million, if the offering is priced at the $12.00 mid-point of its range. The price range assumes a reverse stock split of the company’s outstanding common stock at a 1-for-6 ratio (such reverse stock split, together with the proposed reverse stock split of our outstanding Series A Preferred Stock at the same ratio, the “Reverse Stock Split”), according to the prospectus. ***Note: This deal is NOT an IPO. This public offering is being conducted in conjunction with the company’s plan to uplist its stock to the NYSE – American Exchange (NYSE – AmEx) from the OTCID Basic Market (formerly known as the OTC Pink Market.)

Industry: Fire Suppression Products & Systems
Employees:
Founded: 1990
Contact Information
Address 1740H Del Range Blvd, Suite 166 Cheyenne, WY 82009
Phone Number (800) 401-4535
Web Address http://www.generalenterpriseventures.com/
View Prospectus: General Enterprise Ventures (Uplisting – NYSE-AmEx)
Financial Information
Market Cap $147.17mil
Revenues $3.36 mil (last 12 months)
Net Income $-14.26 mil (last 12 months)
IPO Profile
Symbol MFB
Exchange NYSE - American
Shares (millions): 1.3
Price range $11.00 - $13.00
Est. $ Volume $15.0 mil
Manager / Joint Managers Univest Securities
CO-Managers
Expected To Trade: 7/25/2025
Day: Friday
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change