Alpine 4 Holdings, Inc. (ALPP): Business Model Canvas [Dec-2025 Updated]

You're digging into the current strategy of Alpine 4 Holdings, Inc. (ALPP), and let me tell you, the Business Model Canvas as of late 2025 paints a clear picture: this isn't a growth story right now, it's a complex, necessary restructuring. After years of acquisitions, the focus has sharply shifted to asset disposition-think executing the sale of subsidiaries and managing the in-court reorganization for Quality Circuit Assembly (QCA)-all aimed at reducing that heavy debt load. We see key activities centered on selling off non-core assets and addressing delinquent financial filings, using cash proceeds like the $14,990,000 from a recent sale to fund this pivot. Look below to see precisely how the remaining value propositions are structured to serve buyers, creditors, and the remaining QCA customers during this critical transition phase.

Alpine 4 Holdings, Inc. (ALPP) - Canvas Business Model: Key Partnerships

You're looking at the relationships Alpine 4 Holdings, Inc. (ALPP) had in place to manage its restructuring efforts as of late 2025. These partnerships were critical for asset disposition and subsidiary stabilization.

The divestiture of several assets involved specific financial arrangements with acquiring entities. BrooQLy Inc., operating as Dynamic Aerospace Systems, finalized the acquisition of assets from Vayu (US) Inc., Impossible Aerospace Corporation, and Global Autonomous Corporation.

The sale of Alternative Laboratories to an unnamed international firm was a key step in debt reduction efforts.

• Sale of Alternative Laboratories helped reduce Alpine 4 Holdings' overall debt load.
• This divestiture saved approximately 45 additional jobs.

For the Quality Circuit Assembly (QCA) subsidiary, Alpine 4 Holdings engaged with its banking partners regarding its future.

• Banking partners at QCA were engaged to explore financing arrangements.
• The goal was an in-court reorganization or a potential sale to one of Alpine 4 Holdings' largest customers.
• This QCA restructuring effort had the potential to save up to 75 jobs.

The need for specialized external expertise arose from past financial reporting issues. Alpine 4 Holdings noted that restating its 2022 financials became necessary in November 2024, which added strain.

While the company was in talks for the divestiture of Alternative Laboratories in January 2024, the sale to the international firm was confirmed in a February 2025 CEO letter as a completed action that reduced debt.

Finance: draft 13-week cash view by Friday.

Alpine 4 Holdings, Inc. (ALPP) - Canvas Business Model: Key Activities

You're navigating a complex restructuring, so the Key Activities section of the Business Model Canvas for Alpine 4 Holdings, Inc. (ALPP) as of late 2025 is heavily focused on triage and disposition of the legacy structure.

Executing the sale or shutdown of remaining subsidiary businesses

The activity involves systematically exiting non-core or non-performing assets to streamline operations. This included the difficult decision to shut down entities like Excel Construction Services in late 2023. Furthermore, the company executed the sale of Alternative Laboratories to an international firm.

Managing the in-court reorganization process for Quality Circuit Assembly (QCA)

Alpine 4 Holdings, Inc. is actively engaged in exploring financing arrangements with banking partners specifically for Quality Circuit Assembly (QCA). This exploration is aimed at either an in-court reorganization of QCA or a direct sale to one of its largest customers. The success of this effort is tied directly to job preservation efforts.

Reducing the overall corporate debt burden through asset disposition

Asset sales are a primary mechanism for deleveraging the corporate balance sheet. The sale of Alternative Laboratories specifically contributed to reducing the overall debt load carried by Alpine 4 Holdings, Inc. Separately, there was a stated intention to retire $12.8 million of debt in a first round of payoffs.

Working to complete delinquent financial filings and restate 2022 financials

The company continues to work through significant accounting remediation. As of the February 11, 2025 filing, Alpine 4 Holdings, Inc. was still more than a year behind in its audit process. This necessitates the restatement of the 2022 financial statements, alongside the filing of the now-due 2024 financial statements. The estimated cost to complete both the restatement and the 2024 filing is over a million dollars in new audit fees and specialist retention costs.

Preserving jobs for employees at viable subsidiaries during the transition

A core activity is mitigating workforce impact during divestitures and reorganizations. The company is focused on retaining employees where possible, such as through the potential success of the QCA restructuring. For context, prior to these transitions, Alpine 4 Holdings, Inc. had approximately 380 employees across corporate and all subsidiaries as of early 2024.

Here's the quick math on the direct job impact from recent disposition activities:

What this estimate hides is the status of jobs at the entities that were shut down, like Excel Construction Services, which ceased operations in late 2023.

The financial strain is evident when looking at the required resources to clear the compliance backlog:

• Estimated new audit fees and specialist retention for 2022 restatement and 2024 filing: Over $1,000,000.

Finance: draft 13-week cash view by Friday.

Alpine 4 Holdings, Inc. (ALPP) - Canvas Business Model: Key Resources

You're looking at the core assets Alpine 4 Holdings, Inc. (ALPP) holds as it navigates the post-divestiture phase, which is definitely a pivot point for the organization.

The most concrete financial resource secured from the recent strategic realignment is the cash infusion from asset sales.

Remaining subsidiary assets are anchored in manufacturing and technology portfolios, which include the operational segments of QCA, APF, Morris, Deluxe, and Excel.

The technology assets represent the intellectual property base, which includes proprietary systems and specialized automotive technologies.

• Intellectual Property (IP) Assets: Blockchain enabled Enterprise Business Operating System, named SPECTRUMebos.
• Technology Assets: 6th Sense Auto connected car technology.
• Technology Assets: BrakeActive safety device.

The manufacturing facilities and equipment are primarily concentrated within the Quality Circuit Assembly (QCA) subsidiary, which provides electronic contract manufacturing solutions.

The core management team, responsible for overseeing the wind-down and reorganization efforts, includes key personnel identified in recent filings.

• CEO: Mr. Kent B. Wilson
• Interim Chief Financial Officer: Ginger Smith

The focus for this team, as of February 2025, was to work diligently to find viable solutions for the remaining subsidiaries after the divestitures. The company's reported Total Revenue for the year ended December 31, 2022, was $104.56m, though the 2024 forecast was estimated at $66MM.

Alpine 4 Holdings, Inc. (ALPP) - Canvas Business Model: Value Propositions

You're looking at the core value Alpine 4 Holdings, Inc. (ALPP) is trying to deliver to its different stakeholder groups right now, especially given the ongoing restructuring efforts. It's about survival and maximizing recovery across the board, not just growth.

For the Buyers of assets, the value proposition is the acquisition of established, specialized manufacturing and technology assets that fit within the company's DSF (Drivers, Stabilizers, and Facilitators) business model, spanning segments like Aerospace, Battery Tech, Defense Services, Technology, and Manufacturing. This is a strategy of divestiture to streamline operations. For instance, on April 1, 2025, Alpine 4 Holdings, Inc. executed asset purchase agreements with BrooQLy Inc., selling assets from Vayu US, Impossible Aerospace, and Global Autonomous Corporation, valued at approximately $14.6 million in convertible notes. This transaction provided Alpine 4 Holdings, Inc. with convertible securities that may appreciate over time, which is a direct value to the equity holders who are the ultimate buyers of the remaining entity or its securities.

The value proposition for Customers centers on maintaining operational continuity, particularly for the Quality Circuit Assembly (QCA) segment, which provides electronic contract manufacturing solutions. The company has been actively exploring financing arrangements with banking partners to facilitate an in-court reorganization or a potential sale of QCA to one of its largest customers.

For Creditors, the value is clearly focused on debt reduction and asset monetization to maximize recovery on outstanding obligations. The company has taken steps like selling Alternative Laboratories and shutting down non-performing entities such as Excel Construction Services to achieve this. As of September 30, 2023, Alpine 4 Holdings, Inc. carried a total debt of $52.67 million, making debt reduction a critical focus.

The commitment to Employees is demonstrated through efforts to preserve jobs during these transitions. Specifically, the reorganization efforts being explored at QCA have the potential to save up to 75 jobs. Furthermore, the sale of Alternative Laboratories saved approximately 45 additional jobs. The total employee count across the company was reported at 495 at one point.

Here's a quick look at the key figures tied to these value propositions:

The strategic actions taken reflect a clear prioritization of financial stability and stakeholder mitigation over the near term. You can see the immediate impact of asset sales on the balance sheet, which had a Debt / Equity ratio of 2.56 as of the last reported financials.

The value delivered to employees is concrete, as shown by the following breakdown of job preservation efforts:

• Efforts to save up to 75 jobs at Quality Circuit Assembly (QCA).
• Approximately 45 additional jobs saved through the sale of Alternative Laboratories.

The company's trailing twelve-month revenue as of September 30, 2023, was $104M, providing a baseline for the scale of operations being managed through this restructuring. The next earnings release is scheduled for December 3, 2025.

Finance: draft 13-week cash view by Friday.

Alpine 4 Holdings, Inc. (ALPP) - Canvas Business Model: Customer Relationships

You're looking at Alpine 4 Holdings, Inc. (ALPP) customer relationships as of late 2025, which are heavily shaped by portfolio restructuring and compliance remediation efforts. The nature of the relationship shifts dramatically depending on whether the customer is an acquirer of a divested asset or a continuing B2B partner for a core unit like Quality Circuit Assembly (QCA).

Transactional relationships with buyers of subsidiary assets, such as the April 1, 2025, asset sale to BrooQLy Inc., are defined by one-time or structured exit agreements rather than ongoing service contracts. These deals involved assets from Vayu US, Impossible Aerospace, and Global Autonomous Corporation.

For the remaining manufacturing units, direct business-to-business (B2B) sales characterize the relationship. Quality Circuit Assembly (QCA), which management was exploring financing or a sale to one of its largest customers for in February 2025, relies on these ongoing industrial contracts. While QCA projected revenues between $2.8 million to $3 million for Q3 2020, the focus in 2025 shifted to securing its operational future, potentially under new ownership, to maintain service continuity for its technology customers.

Intensive communication is a necessity when dealing with financial partners, especially given past compliance issues. The February 11, 2025, Form 8-K detailed how late filings impacted relationships with institutions like Chase Bank, Pinnacle Bank, and First Horizon, resulting in covenant restrictions and reduced capital availability.

• Communication focused on securing waivers for technical covenant non-compliance.
• Discussions involved exploring financing arrangements for QCA, potentially leading to a sale.
• Asset sales, such as Alternative Laboratories for an undisclosed amount, were executed to reduce the overall debt load carried by Alpine 4 Holdings.

Formal legal and financial reporting to the SEC and Nasdaq defines the most stringent set of external relationships. As of early 2025, Alpine 4 Holdings was navigating significant reporting delays, which directly impacted its standing with the Nasdaq exchange.

• The company was delinquent on its Q1 2024 Form 10-Q filing.
• Management stated they were still more than a year behind in the audit process as of February 2025.
• Restatement of 2022 financial statements and filing of 2024 statements were required, estimated to cost over a million dollars in new audit fees.
• Trading status was noted on OTC Markets as of the February 11, 2025, filing.

Finance: draft 13-week cash view by Friday.

Alpine 4 Holdings, Inc. (ALPP) - Canvas Business Model: Channels

Direct negotiation and legal channels are used for corporate restructuring activities, including asset sales and divestitures. As detailed in the February 11, 2025, Form 8-K, this process involved the difficult decision in late 2023 to shut down non-performing entities, such as Excel Construction Services, and selling several subsidiaries to new owners with greater financial resources to manage the capital strain.

For the remaining manufacturing and fabrication services, the channel relies on subsidiary-level sales teams. Alpine 4 Holdings, Inc. operates across Aerospace, Battery Tech, Defense Services, Technology, and Manufacturing segments. While specific 2025 sales team structures aren't detailed, prior performance indicates sales activity, such as the $1.9M Nutraceutical Order secured by Alternative Laboratories, LLC in October 2021, and a reported Q3 start with $2.5M in new orders for RCA Commercial.

The trading channel for Alpine 4 Holdings, Inc. stock shifted following regulatory actions. The company's shares were removed from listing on The Nasdaq Stock Market effective May 16, 2025. The stock is now traded on the OTC Markets under the symbol ALPP. The OTC Markets listing notes that quotations are restricted from public viewing and that the stock is Unsolicited-Only, meaning investors may have difficulty selling it.

Official communication with the market is channeled through SEC filings and press releases. The company received a delisting notification letter from Nasdaq on October 16, 2024, and an 8-K filing was made on February 11, 2025. These filings communicate critical financial status updates, such as the need for over a million dollars in new audit fees to complete restatements and 2024 financials.

Here's a quick look at the financial context surrounding these channels as of late 2025:

The communication channels include specific regulatory and public disclosures:

• SEC Filings: Form 8-K filed February 11, 2025, detailing corporate status changes.
• Nasdaq Delisting Notice: Received October 16, 2024, leading to the October 18, 2024, delisting.
• Delinquent Filings: Included Form 10-K for year ended December 31, 2023, and 10-Qs for periods ended March 31 and June 30, 2024.
• Press Releases: Used for official announcements regarding operational and listing status changes.

The divestiture channel involved specific corporate actions:

• Selling several subsidiaries to new owners with greater financial resources.
• Shutting down non-performing entities, including Excel Construction Services.
• Direct negotiation for asset transfers, necessitated by banking covenant restrictions and reduced capital availability.

Alpine 4 Holdings, Inc. (ALPP) - Canvas Business Model: Customer Segments

You're looking at the customer base for Alpine 4 Holdings, Inc. (ALPP) as of late 2025, which is a mix of industrial buyers, B2B service clients, and the capital markets participants who hold the company's equity and debt. The company's structure, built on the Driver, Stabilizer, Facilitator (DSF) model, means customer relationships span aerospace, defense, and electronics manufacturing.

The buyers of industrial assets and technology IP are primarily served through the acquired subsidiaries. For instance, the A4 Defense-TDI segment contracts directly with the United States Government, specifically for the United States Defense Department and United States Department of State. One unit previously secured contracts worth $9M with the US Department of State. The APF segment targets Original Equipment Manufacturers (OEMs) for American-made fabricated metal parts.

The electronics manufacturing segment, Quality Circuit Assembly (QCA), serves existing B2B customers requiring electronic contract manufacturing solutions. The overall business faced market headwinds in fiscal 2025, with sales declining by a modest 2% organically, according to the August 15, 2025 Annual Report. The company's broad customer base spans North America, Australia, New Zealand, and Singapore, with no single customer concentration deemed significant as of that report.

Here is a breakdown of the key operational customer groups:

• Buyers of industrial assets and technology IP across aerospace and defense sectors.
• Existing B2B clients of Quality Circuit Assembly (QCA) for electronic manufacturing.
• Original Equipment Manufacturers (OEMs) purchasing fabricated metal parts from APF.
• Customers requiring dust collectors, commercial ductwork, and industrial ventilation from Morris and Deluxe segments.

The financial stakeholders form a distinct set of non-transactional customers. Creditors and banking institutions holding the company's debt are keenly focused on the balance sheet structure. Total Liabilities reported at the end of fiscal year 2024 were 76 Million USD (in Millions). Management noted in a February 11, 2025 filing that efforts were made to reduce the debt burden carried by Alpine 4.

Shareholders deal with the company's status as a publicly traded entity, which, as of August 24, 2025, involved a transition to over-the-counter trading. As of December 31, 2024, Total Shareholder's Equity stood at 70 Million USD (in Millions), against 27.00 Million Shares Outstanding. The stock price as of November 17, 2025, was reported at $0.0013, having traded as low as $0.001 per share in late November 2025.

The operational customer segments and their associated data points are summarized below:

The capital providers include institutions and individual investors. Institutional owners and shareholders filing with the SEC held a total of 2,813 shares at the time of the last reported filing, with Game Plan Financial Advisors, LLC noted as a largest shareholder. Furthermore, in 2023, the Board of Directors, management, friends, and family lent the company over $1.5 million to cover audit transition costs.

• Total Liabilities (12/31/2024): $76 Million.
• Total Shareholder's Equity (12/31/2024): $70 Million.
• Shares Outstanding (12/31/2024): 27.00 Million.
• Stock Price (November 2025): $0.001.
• Capital Deployed in Fiscal 2025 (M&A/Repurchases): Over $560 million.

Alpine 4 Holdings, Inc. (ALPP) - Canvas Business Model: Cost Structure

You're looking at the cost base of Alpine 4 Holdings, Inc. (ALPP) as it navigated a massive reorganization leading up to late 2025. The cost structure is heavily influenced by clean-up activities from prior years, debt servicing, and the necessary overhead for the remaining core operations.

Significant audit and legal fees represent a major, non-recurring drain. As of the February 11, 2025, filing, the company projected that completing the restatement of its 2022 financials, alongside filing the delinquent 2023 and 2024 reports, would require over a million dollars in new audit fees, plus the cost of retaining necessary specialists. This reflects the high cost of remediation following accounting issues identified in late 2022 and the subsequent delays.

Restructuring and severance costs are tied to the strategic decision to shed non-performing assets. The shutdown of Thermal Dynamics International, Inc. (TDI) in March 2024 alone anticipated non-cash expenses between $10 million to $12 million, primarily from asset impairment, plus approximately $500,000 in transition costs for advisor fees. This followed the difficult decision in late 2023 to shut down entities like Excel Construction Services. The original acquisition cost for Excel Fabrication, LLC back in February 2020 was $5.5 million.

The burden of debt manifests clearly in the interest expense, which contributes significantly to losses. For the third quarter ending September 30, 2023, Alpine 4 Holdings reported a Net Income of -$40.87 million. To put the debt cost in context, the Interest Expense for the full fiscal year 2022 was $3.124 million (in millions USD). The company's total debt-to-equity ratio was reported at 255.83% as of the latest quarter mentioned in the search results, indicating substantial leverage costs.

The remaining Operating Expenses (SG&A) reflect the overhead for the corporate structure and the continuing subsidiaries. You can see the scale of this cost center in the historical figures:

• FY 2022 Selling, General & Admin (SG&A): $37.53 million.
• FY 2021 SG&A: $27.99 million.
• TTM (September 2023) SG&A was $39.99 million.

The Cost of Revenue (CoR) for the manufacturing and fabrication segments, even as the company streamlined, remained substantial relative to revenue. Here's a comparison of the historical CoR versus Revenue:

The TTM data ending September 2023 shows a CoR of $82.19 million against Revenue of $104.20 million, resulting in a Gross Profit of $22.01 million for that period. This ratio highlights that the core operational costs are the largest component of the expense structure, even after divestitures.

To summarize the scale of the operational and financial drag, consider this snapshot of the TTM period ending September 2023, noting that these figures are in millions USD:

• Revenue: $104.20
• Cost of Revenue: $82.19
• Selling, General & Admin: $39.99
• Operating Income: -$21.29
• Interest Expense: $3.79 (Note: This is the absolute value of the expense, which was negative in the reported line item)
• Pretax Income: -$57.96

Finance: draft 13-week cash view by Friday.

Alpine 4 Holdings, Inc. (ALPP) - Canvas Business Model: Revenue Streams

You're looking at how Alpine 4 Holdings, Inc. (ALPP) brings in cash, which is a mix of selling off parts of the business and the ongoing sales from the companies they keep. The structure here shows a shift, moving away from certain holdings while relying on the core manufacturing and tech units.

One significant, one-time revenue event involved the divestiture of non-core and 'Driver' assets. Specifically, Alpine 4 Holdings, Inc. and its subsidiaries entered into asset purchase agreements in April 2025 involving the sale of assets from Vayu US, Impossible Aerospace, and Global Autonomous Corporation. This transaction, which included the sale of assets from Vayu, was valued at $14,990,000 in convertible notes. This cash event, or the conversion of those notes, is a distinct revenue stream separate from the day-to-day operations.

The bread and butter of the current model comes from the remaining operating subsidiaries. These entities generate sales revenue across their respective industrial and technology niches. You can see how the revenue mix looked historically, which helps map out the current focus areas:

To give you a baseline for the scale of the business before any late-2025 adjustments, the trailing 12-month revenue as of September 30, 2023, was approximately $104.2 million. This number reflects the combined top-line performance of the portfolio at that time.

The revenue generated by the remaining operating subsidiaries is derived from specific services and product sales, which are central to the ongoing business model. These streams are tied directly to the capabilities of the retained segments, such as QCA and APF, which operate under the DSF (Drivers, Stabilizers, Facilitators) framework.

The core service and product revenue streams include:

• Revenue from electronic contract manufacturing solutions offered by the QCA segment.
• Sales revenue from American made fabricated metal parts, assemblies, and sub-assemblies from the APF segment.
• Revenue from industrial fabrication services, including dust collectors and commercial ductwork, primarily from the Morris and Deluxe segments.
• Income generated from repair, service, and maintenance work provided by the Excel segment.

Honestly, the shift from asset sales to recurring operational revenue is the key story here.