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TickerDPLS
SectorHardware, Equipment & Parts
Mkt cap$2M
EV / EBITDAN/A
PostureRestatement Risk
Composite96/100
LensTarget-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 866439

DarkPulse, Inc.

DPLSRESTATEMENT RISKFILING INTENSITY

DarkPulse, Inc. reads as Restatement Risk (composite 96/100); pressure / disclosure signals dominate the posture this cycle · primary market Semis & Hardware.

Lens

Disclosed M&A capital (2023–2025)

$100K

−99%

vs $583M in 2020–2022

Disclosed transactions

1

new

1/3 active fiscal years in window

Buyer archetype

Selective Buyer

Acquisition use is visible but targeted.

Composite score

96

/100

Restatement Risk dominates · Filing Intensity

Financial snapshot
Revenue$308K
EBITDAN/A
Enterprise value$4M
EV / Revenue13.6×
EV / EBITDAN/A
P/EN/A
Cash$63K
Total debt$615K
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

26/100

Companies actively deploying disclosed capital into M&A

  • $583M disclosed buyer spend

Buyer Cadence

13/100

Buyer-side companies with recent filing activity

  • Filed within 33d
  • 234 8-Ks

Target Probability

20/100

Issuers showing target-side patterns from filings

  • 10 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 10 activism filings

Pressure Watch

34/100

Issuers facing activism, governance, or control pressure

  • 10 activism filings
  • Latest activism 3.6y ago; discounted

Distress Watch

44/100

Issuers showing financial-distress filing patterns

  • 10-Q 208d stale
  • 10 activism filings

Restatement Risk

Dominant
96/100

Issuers with accounting-integrity flags from filings

  • 1 non-reliance 8-K
  • 12 auditor changes
  • 44 NT late filings
  • Latest event 2mo ago

Capital Velocity

70/100

Issuers with the highest filing-activity intensity

  • 234 8-Ks
  • 5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $4M
  • 10-Q 208d ago
  • 2 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $583M · Peak count: 1

FYDisclosed buysDisclosed spendAvg ticketAudited tier
20251$100K$100KN/A
2024N/AN/AN/AN/A
2023N/AN/AN/AN/A
2022N/A$583MN/AN/A
2021N/AN/AN/AN/A
2020N/AN/AN/AN/A
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

The Company has approximately $19.4 million intercompany payables due from Optilan (UK), which will increase the Company liabilities for any obligations not repaid.

10-KFY2025

The Company is an Unsecured creditor of Optilan (UK) Limited and is at risk of losing any repayment of obligations due from Optilan (UK) Limited because there are several intercompany relationships between the Company and Optilan (UK) Limited, the financial impact of any future claims and liabilities may not be known for several months.

10-KFY2025
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Semis & Hardware

Market spend (2023–2025)
$118.8B
Market spend (2020–2022)
$89.3B
Recent vs prior
+33%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

N/AEV / EBITDA

DPLS trades at a -21.1-turn discount to the Semis & Hardware peer median of 19.5×.

EV / Revenue
13.6×
Net debt / EBITDA
N/A
Peer median EV / EBITDA
19.5×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
30.8×8.0×3.8×$3.2B$6B
21.7×6.6×-0.1×$25.9B$6.9B
19.5×4.5×2.8×$4.7B$1.8B
18.1×5.4×-0.4×$44.5B$997M
14.5×3.5×-0.2×$18.5B$3.1B

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Semis & Hardware. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Buyer landscape.

Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.

Likely buyers

No public buyers surface as a strong target-side fit on current signal.

Likely sellers / divestiture partners

No reciprocal divestiture / strategic-alternatives matches identified.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)232026-05-05
  • 10-Q (quarterly)632025-11-13
  • 8-K (event)2342026-05-07
  • Proxy / DEF 14A32001-08-24
  • Activism (13D / DFAN / PREC)102022-10-24

Signals on file

  • critical

    Non-reliance disclosure

    2012-08-10

    1 Item 4.02 filing on file; financial-statement non-reliance.

  • elevated

    Auditor change

    2024-07-03

    12 Item 4.01 filings on file; certifying accountant change.

  • watch

    Late-filing notice

    2026-03-31

    44 NT 10-K/10-Q filings on file.

  • elevated

    Activism on file

    2022-10-24

    10 activist filings on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    Restatement risk

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.