First Breach Inc. filed a Form 8-K on October 28, 2026, disclosing the mutual termination of its Joint Venture Agreement with ideaForge Technology Inc., effective October 26, 2026, and announcing a successful initial test flight of its Long Range Strike drone platform.

Key Highlights

  • JV terminated: First Breach Inc. and ideaForge Technology Inc. mutually terminated their Joint Venture Agreement effective October 26, 2026, via a Termination Agreement dated October 23, 2026.
  • Capital obligation eliminated: As a result, the company has no further obligation to make any capital contribution to the joint venture, including a $10.0 million first tranche previously scheduled for December 31, 2026.
  • Total committed capital relieved: The original JV Agreement had called for an initial capital contribution of up to $25.0 million.
  • No termination penalties: According to the filing, "the Company did not incur any early termination penalties in connection with the termination."
  • Mutual releases: Each party released the other from all claims arising out of or relating to the JV Agreement.
  • Drone test flight: On October 27, 2026, the company issued a press release announcing the successful initial test flight of its Long Range Strike platform, described as the second of two proprietary drone platforms under development with Hellbender, Inc.

First Breach Ends ideaForge Partnership, Shifts UAV Focus to Hellbender

First Breach Inc. (NASDAQ:FBDT) disclosed in its Form 8-K, filed October 28, 2026, that it and ideaForge Technology Inc., a Texas corporation, agreed to mutually terminate their Joint Venture Agreement as of October 26, 2026. The JV Agreement, originally entered into on September 23, 2025 and amended on March 11, 2026, had established a framework for the two companies to jointly license, source, design, engineer, manufacture, and distribute unmanned aerial vehicles in the United States.

Under the terminated agreement, First Breach had committed to an initial capital contribution of up to $25.0 million, with a first tranche of $10.0 million due on December 31, 2026. The filing states that as a result of the termination, the company is relieved of all such obligations. Certain provisions of the JV Agreement survive termination, including those relating to confidentiality, governing law, and dispute resolution, according to the filing.

The company disclosed it "intends to continue the manufacture of unmanned aerial systems in its own factory and advancing its unmanned aerial systems program with Hellbender, Inc." separately from the now-terminated joint venture. The same filing also furnished, under Regulation FD, a press release dated October 27, 2026, announcing the successful initial test flight of the company's Long Range Strike platform, described as the second of two proprietary drone platforms under development with Hellbender, Inc. The Regulation FD item is furnished, not filed, and is not subject to Section 18 liabilities of the Exchange Act.

What Was Disclosed

First Breach Inc. reported the mutual termination of its UAV joint venture with ideaForge Technology Inc., eliminating up to $25.0 million in capital commitments and providing mutual releases of claims, with no early termination penalties incurred. The company also announced a successful drone test flight with Hellbender, Inc.