June 12, 2025 | Fellow Shareholders –

Today, TRNR Founder and CEO Trent Ward participated in an hour-long Spaces webcast on X with Fetch.AI Founder and CEO Humayun Sheikh. You can listen to the replay of the conversation and QA here. NOTE – the audio begins 1:37 into the replay – so either be patient, or fast forward. We’ll have a more comprehensive recap of the conversation later, but in the meantime, here’s a summary of what Trent and Humayun covered:

• The recently-announced agreement is an exciting, and unprecedented, collaboration between an AI-focused crypto platform with a real track record of creating tech utility, not just tradeable value, and a high-growth fitness company that has significant Web3 ambitions.

• The investment has a complicated structure, which even seasoned crypto and equity investors might have trouble understanding – and so TRNR will continue to expand its explanations of the value of this tie up and investment for both types of stakeholders.

• The $FET token has genuine tech utility, and significant applicability to a wide range of sectors and companies – including connected fitness. TRNR is already underway pushing into AI and tokenized applications for personal training.

• The investment by ATW and DWF offers exposure to 100% upside for TRNR shareholders both in terms of stock and an asset, $FET, with independent value – and limited downside, given Fetch.AI’s backstopping provisions. It also provides working capital at a premium to TRNR’s current stock price – with zero dilution until the agreement is registered in a few months, and longer-term dilution only if the stock appreciates. 

There’s a lot more detail and color commentary that was enjoyed by the 150+ listeners – we’d encourage every shareholder to hear directly from the CEOs.

Team TRNR