Announcement on December 12, 2025, $Ondas(ONDS.US) will recognize a significant one-time non-cash expense in the fourth quarter of 2025, which will be recorded in the fourth-quarter financial report as of December 31.

This accounting expense arises from the company's decision to reclaim equity in its subsidiary, resulting in an accounting change.

The background is as follows:

In the past, Ondas issued notes and warrants to external investors to support the operations of its subsidiary, Ondas Autonomous Systems (OAS). Now, the company has chosen to exchange these notes and warrants by issuing shares of the parent company, allowing Ondas to once again hold 100% of OAS's equity.

This move is clearly positive for corporate governance and future financial consolidation—not only does it simplify the structure, but it also provides flexibility for future strategic options (such as selling the subsidiary or increasing overall valuation).

It is important to note:

This transaction does not involve cash outflow but will dilute existing shareholders' equity.

The company estimates it will issue approximately 6.88 million to 7.32 million new shares.

In the short term, dilution is indeed a factor; but from a long-term perspective, using equity to regain 100% control of the subsidiary is a strategic rather than consumptive transaction.

It can be expected that when the Q4 financial report is officially released, media headlines will likely focus on:

"Ondas' Q4 Losses Expand Significantly, Reaching $60 Million."

The market's typical knee-jerk reaction is often:

See the numbers → Ignore the nature → Sell emotionally → Stock price under pressure.

But if the stock price is unfairly hit due to a one-time, non-cash, structural adjustment, it may instead be a time to reassess value and enter the market in batches.