To close the books on 2025 and prepare for a PLI panel tomorrow, I went back and updated my charts for 2025. If you want to see the latest for 2026, we’ve started a more comprehensive list aiming to track all activity, not just moves to Nevada or Texas.

Rough Totals

Overall, my count has 28 announced attempts for Nevada of some kind or another and 8 for Texas. These numbers are a bit imprecise as Eightco shows up on both lists and Liberty Live was a split off to Nevada.

Success v. Failure

Companies looking to shift jurisdictions mostly succeeded. My count has six or seven failed votes for Nevada, one withdrawal for Texas, and whatever we want to classify Solidion as.

I say six or seven failed votes for Nevada because I’m not sure exactly how to count Twin Vee PowerCats now. On December 8, 2025, Twin Vee said that “stockholders . . . approved the reincorporation of Twin Vee from the State of Delaware to the State of Nevada by conversion (the ‘Nevada Reincorporation Proposal’).” But as of January 2026, it’s still a Delaware corporation. The vote totals on the reincorporation proposal were 437,309 in favor with 661,214 broker non-votes, 88,498 votes against, and 2,496 abstentions. By my count, most of the votes cast were in favor, but a majority of the outstanding votes did not vote in favor as required by Delaware law. This contrasts with Taoweave, which explained that “The Company’s redomestication to Nevada by conversion was not approved, as the proposal did not satisfy the statutory approval requirement under Delaware law requiring the affirmative vote of a majority of the Company’s outstanding shares entitled to vote, notwithstanding that a majority of the votes cast were in favor of the proposal.”

My final lists and notes for 2025 are below.