Starfleet Innotech (OTC Pink: SFIO) has nearly doubled its share price in recent weeks, climbing from around 0.002 at the start of March to 0.0038 at the close last week following a steady stream of updates out of the Philippines. With new partnerships forming and a new CEO for the EV division in place, the company has been offering a clearer picture of how it plans to participate in one of the region’s most urgent infrastructure upgrades: the nationwide overhaul of public transportation.
At the center of this push is SFIO’s focus on electric jeepneys. These colorful minibuses, originally adapted from military vehicles, have long dominated Philippine roads. Now, with more than 150,000 older units expected to be phased out under the government’s modernization program, SFIO is moving to meet the moment. It has partnered with a Philippine vehicle assembly group and a Chinese manufacturer specializing in EV jeepneys. Its newly appointed EV division CEO recently traveled to China to finalize supply arrangements, where the company reports further collaboration with two major Chinese EV brands and an EV charger company. This tells us SFIO’s ambitions extend beyond vehicles and into EV infrastructure as well.
The Philippine government's initiatives provide a strong backdrop. The Public Utility Vehicle Modernization Program (PUVMP), initiated in 2017, continues to drive demand for low-emission public transport, while the Electric Vehicle Industry Development Act (EVIDA), passed in 2022, supports long-term EV growth through tax breaks, infrastructure development, and manufacturing incentives. SFIO is aligning with both programs by securing supply chains and forming local production partnerships, placing itself near the front of the country’s shift toward cleaner transport.
Outside of EV, SFIO continues to build across its other divisions. Its real estate project in New Zealand is back on track, and development under the Moraya Real Estate brand in the Philippines is progressing. The Heroes Lane subdivision is currently moving forward with bridge funding while larger capital infusions are being arranged. Meanwhile, the Epiphany Café business is expanding in Malaysia through a profit-sharing model, and discussions are underway to bring the café concept into an existing Philippine franchise network.
In its 2024 annual report, released yesterday on March 30, 2025, SFIO reported $20.90 million in revenue, $12.83 million in gross profit, and $3.01 million in net income. Assets totaled $31.85 million, with liabilities at $4.62 million, and there were no convertible notes. Of the 1.285 billion outstanding shares, about 749 million are unrestricted, though that number may change depending on pending share restructuring. These figures reflect a balance sheet that avoids heavy leverage or toxic financing, giving the company more room to pursue expansion across multiple sectors.
The move from 0.002 to 0.0038 reflects renewed interest in SFIO, and the flow of operational updates suggests the company is intent on keeping momentum alive. Multiple revenue channels, a lean capital structure, and a hands-on leadership team all point to a group looking to scale, not stall. The coming months will show whether the team delivers, but right now, Starfleet Innotech is laying down the kind of groundwork that tends to get noticed.
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