Kubient, Inc. (KBNT): Business Model Canvas [Dec-2025 Updated]

You're looking for the standard operating blueprint for Kubient, Inc., but after digging into the late 2025 situation, the reality is we're looking at a wind-down canvas, not a growth strategy. Honestly, this isn't about market share anymore; it's about the orderly disposition of assets under the Chapter 7 Trustee's watch, aiming to maximize recovery for creditors from the remaining $3.34 million in cash against liabilities around $2.88 million. This framework details exactly how the key activities shift from selling ad tech to legal compliance and asset sales, so dive below to see the precise structure governing this final corporate act.

Kubient, Inc. (KBNT) - Canvas Business Model: Key Partnerships

You're looking at the key entities that define the operational and legal structure for Kubient, Inc. (KBNT) following its Chapter 7 filing. In this phase, the partnerships are less about business growth and more about asset liquidation and claims management under court supervision.

Alfred T. Giuliano, the appointed Chapter 7 Trustee

Alfred T. Giuliano acts as the fiduciary responsible for marshaling and liquidating the assets of Kubient, Inc. for the benefit of creditors. His primary role is to oversee the Chapter 7 estate administration. The initial financial context for his administration, as of the July 25, 2024, filing, showed total assets listed at $3.34 million against total liabilities of $2.88 million.

U.S. Bankruptcy Court for the District of Delaware

The U.S. Bankruptcy Court for the District of Delaware is the governing judicial body overseeing the entire liquidation process. This court sets the procedural framework, approves asset sales, and ultimately confirms the distribution plan. The court handles all official filings and disputes related to the estate.

Secured and unsecured creditors for claims resolution

The resolution of claims is central to the trustee's function. Creditors file proofs of claim with the court, which the trustee reviews. The initial balance sheet indicated liabilities of $2.88 million, which are categorized into secured and unsecured classes, dictating the priority of payment from the liquidated assets. The recovery for these parties depends entirely on the net proceeds from asset sales.

Here's a quick look at the initial financial position that frames the creditor recovery efforts:

Legal counsel for bankruptcy and litigation management

The debtor retained specific legal counsel to navigate the Chapter 7 process. Mark L. Desgrosseilliers of Chipman Brown Cicero & Cole, LLP represented Kubient, Inc. at the time of filing. This firm's role transitions to advising the debtor entity during the wind-down, while the trustee retains separate counsel for estate matters. Litigation management, including potential avoidance actions, falls under the trustee's authority and their appointed counsel.

Potential buyers for intellectual property (IP) and technology assets

The technology and IP are often the most valuable assets in a Chapter 7 for a software company like Kubient, Inc. The trustee's partnership involves identifying and negotiating with potential buyers to maximize the return on these intangible assets. While specific late-2025 buyer names aren't public record here, the trustee's mandate is to secure the highest bids for assets such as:

• Proprietary advertising technology stack
• Software patents and copyrights
• Customer/partner data contracts (if assignable)
• Domain names and trade secrets

The success of the liquidation hinges on finding strategic buyers for these specific technology components. Finance: draft the 13-week cash view for asset sale proceeds by Friday.

Kubient, Inc. (KBNT) - Canvas Business Model: Key Activities

You're looking at the Key Activities for Kubient, Inc. (KBNT) as of late 2025, which, given the July 25, 2024, Chapter 7 filing, means the primary activities revolve entirely around winding down the estate. This isn't about selling ad tech anymore; it's about legal and financial closure. The focus shifts from product development to fiduciary duty.

The core activities are dictated by the US Bankruptcy Court for the District of Delaware, overseen by the appointed trustee, Alfred T. Giuliano. These tasks are non-negotiable for any Chapter 7 proceeding.

• Orderly disposition and sale of remaining corporate assets.
• Administration and processing of creditor claims.
• Legal compliance with Chapter 7 bankruptcy code requirements.
• Managing the remaining cash balance of approximately $3.34 million.
• Filing mandatory periodic reports with the Bankruptcy Court.

The financial context for these activities stems directly from the initial Chapter 7 petition. Honestly, the numbers tell the whole story of the current operational scope. Here's the quick math on the starting point for asset management:

The orderly disposition and sale of remaining corporate assets is paramount. This involves identifying, valuing, and liquidating any remaining property, intellectual property, or other holdings that weren't already accounted for or sold prior to the filing. The initial asset listing suggested a total value of $3.34 million, which is the pool the trustee is working with to satisfy obligations.

Administration and processing of creditor claims requires meticulous tracking. Every creditor must file a proof of claim, and the trustee must review and object to any claims that are improper or duplicative. The initial liabilities were listed at $2.88 million, setting the ceiling for expected distributions, assuming all claims are valid.

Compliance is rigid. Legal compliance with Chapter 7 bankruptcy code means adhering to strict timelines and procedures set by the court and the US Trustee's office. This includes specific actions like:

• Ensuring all required notices are sent to parties in interest.
• Conducting the Section 341 meeting of creditors, if necessary.
• Obtaining court approval for asset sales or major expenditures.

Managing the cash is a key fiduciary duty. The cash balance, noted as approximately $3.34 million initially, must be held in an interest-bearing account approved by the Bankruptcy Court. The trustee must account for every dollar earned or spent from this balance until final distribution. This cash management activity is critical to preserving the estate's value for creditors.

Finally, the administrative overhead includes filing mandatory periodic reports with the Bankruptcy Court. These reports detail the cash receipts, disbursements, and the status of asset sales. These filings provide transparency to the court and the creditors, ensuring the liquidation process moves forward according to the Bankruptcy Code. Finance: draft the next quarterly status report for the trustee by the end of the month.

Kubient, Inc. (KBNT) - Canvas Business Model: Key Resources

You're looking at the core assets Kubient, Inc. has left to manage its Chapter 7 liquidation, which is a tough spot for any company. Honestly, the key resources now are less about driving growth and more about winding down operations under the court's oversight. Here's the quick math on what remains on the books as of late 2025, based on the latest filings and trading data.

The most concrete financial figure we have tied to the immediate post-filing status is the asset base reported when Kubient, Inc. filed for Chapter 7 liquidation in the U.S. Bankruptcy Court for the District of Delaware on July 25, 2024. At that time, the debtor listed total assets of approximately $3.34 million.

The company's intellectual property remains a resource, though its value in a liquidation scenario is always debatable. The core IP centers around the Kubient Artificial Intelligence (KAI) fraud detection tool. This technology was described as a patent-pending proprietary system designed to analyze live advertising bid stream data to spot potential ad fraud in real-time. Specifically, the company had filed for protection on this technology:

• Two provisional patents filed.
• One patent application related to the KAI real-time digital advertising fraud prevention solution.
• One patent application related to the inventory and decision management system for DOOH media buying agencies.

With the company in Chapter 7 proceedings, the control over all corporate records and financial documentation has shifted. Alfred T. Giuliano was appointed as the case trustee following the July 25, 2024, filing, meaning all documentation is now held and managed by the Trustee to administer the estate.

The public trading vehicle, the nominal shell, still exists on the OTC Markets, though its value reflects the bankruptcy status. As of early December 2025, the stock price has been hovering at a very low level, indicating minimal market confidence in a going-concern value. This is what the market is showing us right now:

What this estimate hides is the actual cash on hand in late 2025, which will be determined by the liquidation process itself, not the pre-filing balance sheet figures. For instance, older TTM data from March 31, 2023, showed Cash & Cash Equivalents at $11.83 million, but that figure is certainly not reflective of the cash available to the Trustee now.

Kubient, Inc. (KBNT) - Canvas Business Model: Value Propositions

You're looking at the value proposition for Kubient, Inc. (KBNT) as of late 2025, which is not about selling ad tech anymore; it's about the value delivered by the Chapter 7 liquidation process itself to its stakeholders.

The primary value proposition now centers on maximizing recovery for creditors through asset liquidation. This is the core function being executed by the appointed trustee, Alfred T. Giuliano, following the voluntary petition for liquidation filed on July 25, 2024, in the U.S. Bankruptcy Court for the District of Delaware.

Another key value delivered is providing legal finality and closure to the corporate entity. The Chapter 7 filing supersedes any prior strategic direction, meaning the value is in the orderly wind-down of the legal structure.

The process also serves to fulfill statutory duties under the U.S. Bankruptcy Code. This ensures that the disposition of assets is handled according to federal law, which is a critical value for all parties with a claim against the estate. Honestly, this is the only value proposition that matters now.

Central to this is the commitment to transparent accounting of liabilities. At the time of filing, the debtor listed its liabilities at approximately $2.88 million. This transparency is essential for creditors to understand their potential recovery pool.

Here's a quick look at the key financial figures related to the liquidation event:

The value proposition for the court and creditors is built upon these procedural and financial facts. The former operational value propositions, like connecting advertisers and publishers via the Audience Cloud platform, are no longer relevant.

The specific benefits realized by stakeholders in this liquidation phase include:

• Orderly disposition of remaining assets.
• Adherence to Delaware Bankruptcy Court rules.
• Clear accounting of the $2.88 million in liabilities.
• Final legal resolution for the corporate shell.

To be fair, the historical value proposition, which involved proprietary artificial intelligence-powered pre-bid ad fraud prevention, is now just part of the history leading to this point. The current value is purely administrative and financial.

The trustee's key activities, which support this value proposition, involve managing the assets to maximize the return against the stated liabilities. The TTM revenue as of November 2025 was reported near zero at $0.01 million, confirming the operational cessation. The focus is on the asset side of the balance sheet now.

For you, the key takeaway is that the value proposition is now defined by the legal framework:

• Value is the recovery percentage against the $2.88 million.
• Value is the legal certainty provided by Chapter 7.
• Value is the trustee's fiduciary duty execution.

Finance: confirm the latest estimated recovery rate from the trustee's filings by next Tuesday.

Kubient, Inc. (KBNT) - Canvas Business Model: Customer Relationships

Formal, statutory communication with the Bankruptcy Court

The relationship with the Bankruptcy Court for the Southern District of New York is entirely statutory, managed by the appointed trustee, Alfred T. Giuliano, who serves as the Liquidation Officer. This communication is governed by the Chapter 7 filing date of July 25, 2024. The court oversees the disposition of assets, which were listed at approximately $3.34 million against liabilities of about $2.88 million at the time of filing. The primary function of this relationship is compliance with court orders regarding asset marshaling and distribution.

Legal and administrative correspondence with all known creditors

Correspondence with creditors is strictly legal and administrative, focused on the claims process. The company's historical financial statements show a Debt / Equity ratio of 0.76%, though this ratio is now largely historical given the liquidation status. The process involves verifying claims against the company's remaining estate. The TTM Revenue as of November 2025 was $1.17 million, which contrasts sharply with the net loss reflected in the TTM Net Profit Margin of -566.69%, illustrating the financial state that led to creditor claims. The latest reported quarterly revenue was only $0.01 million.

• Trustee: Alfred T. Giuliano
• Court Jurisdiction: Southern District of New York
• Asset Value at Filing: Approximately $3.34 million
• Liability Value at Filing: Approximately $2.88 million

Minimal, passive relationship with former shareholders via OTC trading

The relationship with former shareholders is passive, occurring through the public trading of the stock on the OTC Markets. As of November 13, 2025, the stock price was approximately $0.0003 per share, with Shares Outstanding reported at 14.73M, resulting in a market capitalization of roughly $14.73K. This reflects the near-total loss of equity value following the Chapter 7 filing. The former CEO, Paul Roberts, was sentenced in March 2025 in connection with improperly recognizing over $1.3 million in fraudulent revenue, which directly impacted shareholder trust.

Professional engagement with asset purchasers during the sale process

Engagement with asset purchasers is a key, active relationship managed by the trustee, focused on maximizing recovery for the estate. This involves the professional disposition of remaining tangible and intangible assets. The former core technology, Kubient Artificial Intelligence (KAI), was central to a fraudulent transaction involving $1.3 million in revenue recognition, which may affect the perceived value of any residual intellectual property being sold. The company's TTM Earnings Per Share (EPS) stands at -$0.87, reinforcing the need for asset liquidation over operational continuation.

• Primary Contact: Court-Appointed Trustee
• Focus: Asset Disposition and Sale Proceeds
• Historical Fraudulent Revenue Recognized: $1.3 million
• Latest Quarterly Net Income: -$2.47 million

Kubient, Inc. (KBNT) - Canvas Business Model: Channels

You're looking at the channels for Kubient, Inc. (KBNT) as of late 2025, and honestly, the primary channels now are legal and financial conduits for winding down the entity, not for selling the Audience Cloud platform. The operational channels for digital advertising distribution ceased when the company filed for Chapter 7 liquidation on July 25, 2024.

Official filings and dockets with the Bankruptcy Court

The main channel for Kubient, Inc. activity is the U.S. Bankruptcy Court for the District of Delaware. This is where the remaining assets and liabilities are being marshaled. At the time of the Chapter 7 filing, the debtor listed assets of approximately $3.34 million and liabilities of approximately $2.88 million. This filing supersedes any prior business strategy, meaning the channel for value realization is now solely through the court-supervised liquidation process.

Trustee's reports and notices to creditors

Alfred T. Giuliano was appointed as the case trustee to manage the liquidation. Any communication regarding the distribution of remaining funds or the status of asset sales flows through the trustee's reports to creditors. The last reported revenue figures before the August 2025 filing give context to the pool of assets being managed; the most recent quarterly revenue reported was a negligible $0.01 million (or $10,000). The focus here is on creditor claims, not customer acquisition.

OTC Markets for trading of the nominal KBNT stock

While the business operations are gone, the nominal stock trades on the OTC Markets, which serves as a channel for the last remaining equity holders to transact. This trading reflects sentiment on the liquidation process, not operational performance. Here's the quick math on the stock as of early December 2025:

What this estimate hides is that the market cap of 4,418 is extremely small, suggesting negligible market valuation for the remaining shell entity.

Legal and financial notices in designated publications

Legal channels have been significant, especially following the accounting fraud conviction. The former CEO, Paul Roberts, was sentenced on March 20, 2025, for securities fraud related to improperly recognizing over $1.3 million in fraudulent revenue, which was over 94% of the reported revenue for 2020. These notices, published by the Department of Justice, are critical for understanding the final liabilities and reputational damage that affect any residual asset value.

Key financial and legal events communicated through these channels include:

• Former CEO Paul Roberts sentenced on March 20, 2025.
• Fraudulent revenue recognized was over $1.3 million.
• The fraudulent revenue represented over 94% of 2020 reported revenue.
• The company delisted from Nasdaq in November 2023.

Finance: draft a memo summarizing the trustee's expected final distribution percentage based on the $3.34 million asset base by next Tuesday.

Kubient, Inc. (KBNT) - Canvas Business Model: Customer Segments

You're looking at the Kubient, Inc. (KBNT) Business Model Canvas as of late 2025, which, given the Chapter 7 liquidation filed on July 25, 2024, means the 'customer' base is entirely composed of stakeholders involved in the winding-down process. The traditional advertising platform customers are no longer the focus; the focus is on asset realization and claim satisfaction.

The financial reality is stark: the debtor listed total liabilities of $2.88 million against assets of $3.34 million at the time of filing. This suggests a potential for some recovery, but the priority of claims dictates who the actual segments are.

Unsecured creditors (the largest segment)

This group represents the primary financial focus now. While the search results don't break down the $2.88 million in total liabilities into secured versus unsecured amounts, in a Chapter 7 liquidation, unsecured creditors typically form the largest class by number and often by claim amount, after any secured claims are satisfied from specific collateral.

The historical context involves significant capital raised under potentially misleading circumstances, which informs the nature of these claims:

• Capital raised via IPO in August 2020: more than $12.5 million.
• Capital raised via secondary offering in December 2020: more than $20 million.
• Fraudulent revenue recognized around the IPO: over $1.3 million.

Here's a look at the market valuation context for these stakeholders, though it reflects pre-liquidation equity value:

Secured creditors (if any remain)

If any secured debt existed, those creditors have the first claim on specific assets pledged as collateral. The total listed assets were $3.34 million as of July 2024. Any secured claim amount would be subtracted from this asset base before any funds are available for the unsecured pool.

The U.S. Bankruptcy Court and the Department of Justice

These entities are critical segments because they oversee the process and pursue criminal/civil remedies. The Department of Justice's involvement is tied to the accounting fraud case against the former CEO, Paul Roberts, who was sentenced in March 2025.

The financial impact related to the DOJ's action includes:

• Amount of fraudulent revenue recognized: more than $1.3 million.
• The fraudulent revenue represented over 94% of reported revenue for 2020 at the time of the August 2020 IPO.

Former shareholders holding a residual, speculative interest

Former shareholders, whose stock traded as low as $0.000300 USD on November 25, 2025, hold the lowest priority claim in a Chapter 7. Their interest is purely residual, meaning they only receive a distribution after all administrative expenses, priority claims, and general unsecured claims are paid in full.

The total number of shares outstanding was 14.73M. Any recovery for this segment is highly speculative, given the existing liabilities of $2.88 million.

Kubient, Inc. (KBNT) - Canvas Business Model: Cost Structure

You're looking at the cost structure for Kubient, Inc. (KBNT) as of late 2025, which is dominated by the Chapter 7 liquidation process initiated on July 25, 2024. This fundamentally changes the cost drivers from operational expenses to winding-down expenses, managed by the appointed trustee, Alfred T. Giuliano.

The primary costs now revolve around satisfying creditor claims from the remaining asset base. At the time of the Chapter 7 filing, the company listed approximately $3.34 million in assets against about $2.88 million in liabilities.

Here are the key cost categories relevant to the liquidation, using the most recent concrete figures available to frame the scale of the remaining financial obligations and historical context:

• Trustee fees and compensation for the liquidation process
• Professional fees for legal and accounting services
• Administrative costs of maintaining the corporate shell and filings
• Costs associated with asset valuation and sale (e.g., auctions)

The legal and accounting costs are significantly influenced by the prior accounting fraud scheme, where the former CEO caused the improper recognition of over $1.3 million in fraudulent revenue, which necessitates extensive legal oversight during the wind-down.

Here's a table mapping the current financial reality and historical cost context:

The administrative costs of maintaining the corporate shell and filings, while likely lower post-delisting in November 2023, are now folded into the trustee's administrative overhead, which is a percentage fee against the assets recovered. To be fair, the final trustee fee structure isn't public yet, but it will be calculated based on the $3.34 million asset pool.

The costs associated with asset valuation and sale will directly impact the net recovery for creditors. Any auction or sale process will incur direct transactional fees. The company's stock, trading under KBNT on the OTC Markets, reflects a market capitalization of roughly $14.73K as of November 2025, indicating minimal value remaining in equity claims.

Finance: draft 13-week cash view by Friday.

Kubient, Inc. (KBNT) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Kubient, Inc. (KBNT) as of late 2025, and honestly, the picture is starkly different from its operational days. Since the Chapter 7 liquidation filing on July 25, 2024, the traditional revenue model-based on platform transaction fees-is gone. What remains are asset realization proceeds managed by the appointed trustee, Alfred T. Giuliano. This is about winding down, not growing.

The focus shifts entirely to converting the balance sheet into cash to satisfy creditor claims. The latest reported financial snapshot before the full liquidation impact shows a base from which these final proceeds will be derived. For instance, as of the last reported quarter, the company listed total assets of approximately $12.25 million against total liabilities of $1.72 million.

Here's how the components that feed into these final realization streams look based on the most recent available figures:

• Proceeds from the sale of any remaining intellectual property (e.g., KAI technology rights).
• Interest income on the remaining cash balance.
• Recovery of any outstanding accounts receivable.
• Residual value from the disposition of former platform assets.

The table below maps the latest reported asset base that underpins these non-operational 'revenue' streams. Remember, these are asset values, not earned income in the traditional sense.

The Interest Income on the remaining cash balance is derived from the cash on hand. As of the last reported period, Cash & Equivalents stood at $11.83 million. Any interest earned on this balance during the Chapter 7 administration accrues to the estate.

For the Recovery of any outstanding accounts receivable, the latest reported figure for Receivables was $0.1 million. The actual recovery rate will depend on collection efforts by the trustee.

The Residual value from the disposition of former platform assets and Proceeds from the sale of any remaining intellectual property are intertwined with the total asset value. The company's core IP, Kubient Artificial Intelligence (KAI), is a key asset whose disposition value is unknown but critical to the final distribution. The difference between the $12.25 million in total assets and the $1.72 million in total liabilities represents the maximum theoretical equity cushion, though secured creditors take priority.

You should track the trustee's filings for specific updates on the KAI patent (US Patent No 11,521,231, issued December 6, 2022) sale, as this would fall under intellectual property proceeds.